Development of a Real-Time Business Credibility Scoring System for Transport Industry Stakeholders

The client faces significant difficulties due to unreliable contractors, which impact transaction credibility and risk management within the transport industry. Existing systems lack comprehensive, real-time insights into contractor financial credibility, leading to suboptimal decision-making and increased operational risks.

A mid-sized logistics platform aiming to improve partner risk assessment and transaction reliability by leveraging comprehensive data analytics.

• Implement a unified data collection system aggregating information from multiple sources such as invoices, transaction logs, and order statuses.
• Develop a live updating scoring algorithm that assesses the financial credibility of contractors in real time.
• Increase the number of positive, trustworthy transactions on the platform by improving contractor vetting processes.
• Deliver an accessible dashboard displaying the credibility indicator to all relevant users, facilitating faster and more informed decision-making.

• Data integration modules connecting to internal databases and external APIs for invoices, transaction history, offer counts, and order statuses.
• Automated data aggregation and normalization processes to compile relevant information into a unified repository.
• A dynamic scoring engine employing a weighted algorithm to calculate a single credibility indicator, updated daily.
• An internal dashboard or web interface providing real-time access to contractor scores for platform users.
• Continuous data refresh mechanism ensuring the credibility scores reflect the latest transactional events.

• Invoice management systems for financial data.
• Transaction and offer logs maintained by the platform.
• Order status tracking systems.

• System scalability to handle over 170,000 transaction events daily.
• Real-time or near-real-time data updates with minimal latency.
• Data security and compliance, particularly around financial information.
• High system availability and fault tolerance to ensure continuous scoring updates.

The implementation of this system is expected to significantly increase transaction trustworthiness, resulting in a higher volume of positive platform transactions. The scoring algorithm, updated daily, will facilitate better risk assessment and decision-making, ultimately enhancing overall platform reliability and partner satisfaction.