Why 1Centre Won: Our Journey to the iAwards24

At 1Centre, we are incredibly proud to have been honoured as the NSW Winner and National Finalist in the Technology Platform category at the prestigious iAwards24. This recognition highlights our innovative approach to trade credit management and our commitment to transforming customer relationships through advanced technology.

The Problem We Address

Trade credit management has long been a cumbersome and outdated process for many enterprise companies. These businesses often struggle with inefficient onboarding procedures, high administrative burdens, significant online risks, and insufficient business data. Our platform, 1Centre, was developed to tackle these challenges head-on, providing a streamlined and secure solution tailored specifically for enterprise trade credit management.

Our Innovative Solution

1Centre is pioneering new approaches to Customer Credit Management. Our platform excels in sales channel optimisation, curated customer workflow management, multi-decisioning functionality, engagement, and monetisation, having secured over $7 billion of annual approved revenue for our clients.

Here’s how it works.

Imagine a tradesperson named Dan. Dan goes to the local building supplies store, looking to purchase a sizable amount of supplies for a job. As a sole trader, he would love to use trade credit for his purchase. Before 1Centre, Dan would be presented with paperwork and a protracted approval process that could take weeks or even months, often missing his purchasing window.

Enter 1Centre: Dan’s onboarding transforms dramatically. At the store, he scans a QR code, uploads a photo of his driver’s licence, and takes a selfie. Within minutes, our platform’s integration with government and credit databases, coupled with facial recognition, anti-fraud checks and auto-decisioning processes approved his application. This swift and seamless experience not only makes Dan a satisfied customer but also translates into a substantial sale for the store.

1Centre is designed to serve enterprises like Mitre10, Frucor Suntory, CSR Group, Hanson Group, Allied Petroleum, and Bidfood, which benefit immensely from our solution. By leveraging our platform, these companies have reduced administrative burdens, boosted customer satisfaction and expanded sales opportunities. 

To date, over 100,000 customers have been successfully onboarded, showcasing our platform’s capability to revolutionise the traditional trade credit process and turn it into a formidable competitive advantage for our clients.

What Sets Us Apart

1Centre’s differentiation lies in its comprehensive approach to digitising the trade credit process, which traditionally has been manual, paper-based, time-consuming and Finance/Credit Team focused. Our platform transforms this by solving problems across key stakeholders within an organisation, dramatically reducing the time from application to approval, to onboarding and ordering, from weeks to mere minutes.  We are on a mission to empower all businesses to exchange the right amount of data and the right time, seamlessly.

Key features of our platform include:

• Four unique Sales Channels: The only onboarding tool that offers this functionality.
• Customisable workflow tools: For risk assessment and approval processes.
• Automated identity verification and credit checks: Through integrated services.
• Advanced fraud detection capabilities: To safeguard against risks.
• Flexible features: For enhancing staff and customer onboarding experiences.

Introducing Watchtower

Our groundbreaking release of Watchtower in 2024 is an entirely novel and innovative operating system. Its genesis stemmed from an acute market need for a comprehensive online surveillance system capable of providing company wide visibility, process automation, credit risk reduction all while protecting existing business and combating fraud in real time.

Watchtower offers 24/7 Surveillance of an organisation’s entire credit-book, both for new and existing customers. With features like repeat application detection, unusual pattern identification, account performance monitoring and leadership change alerts, it safeguards companies against financial pitfalls in a way that no other product currently does. This isn’t just a fraud detection system; it’s a comprehensive risk management ecosystem that empowers users to take preemptive action. Watchtower’s USP lies in its holistic surveillance approach.

The Technology Behind 1Centre

1Centre leverages a cutting-edge cloud technology stack to deliver seamless experiences. The platform’s backend is engineered using Ruby on Rails, ensuring robust server-side interactions, while the frontend is developed with React.js for dynamic and responsive user interfaces. The entire infrastructure is hosted on Amazon Web Services (AWS), utilising Elastic Kubernetes Service (EKS) for scalable and efficient application management.

Core technologies include:

• Credit Services Integration: Full API integration with four major credit bureaus, enabling live management of credit verifications.
• Identity Verification and Anti-Fraud Measures: Advanced identity verification services that include government checks and AWS biometrics technology.
• Address Verification Systems: Integrations with NZ Post and AU Address Finder ensure all user details are accurate and up to date.
• Sales and Decisioning Tools: Real-time accessibility and visibility into the sales pipeline from initial application requests to final approval.
• Flexible and Customisable Systems: The application system is fully customisable to accommodate both business and personal customers when onboarding.

Conclusion

Winning the NSW Winner and National Finalist titles at the iAwards24 is a testament to the hard work, dedication, and innovation of our incredible team at 1Centre. We are committed to continuing our journey of transforming trade credit management and safeguarding customer relationships with cutting-edge solutions.

Join us as we push the boundaries of what’s possible in technology and credit management. With 1Centre, you will trade with trust.

For more information, visit 1Centre’s website.