The CfCStanbic Electronic Bulletin Board (EBB) is the software platform that automates the settlement of purchases from the Mombasa Tea Auction. The platform coordinates pre-auction and post-auction activities, and facilitates the disbursement of funds between producers, buyers, brokers, and warehouses within a secure, controlled and systematic environment. From a bi-weekly auction prospective, the system digitizes tea catalogues, and publishes them online for all authorized stakeholders to view. Brokers then submit lot appraisals and, at the end of each auction, invoice buyers within the EBB. The system identifies the sold lots, prices, commissions and other charges, and the total amounts due.
The EBB automatically reconciles buyer payments made and submits automated notifications to all interested parties prior to generating Tea Release Documents (TRD). The buyer presents the TRDs to the warehouse as a proof of purchase and transfer of title. The EBB’s warehouses interface allows for the TRD authenticity to be verified in real-time. The system facilitates the disbursement of amounts due, commissions, and, charges the designated stakeholders. The system is online and can be accessed from anywhere with internet access, at any time. The system produces reports specific to the stakeholder as they log on with their roles and rights.
Rafica developed and implemented the CfC Stanbic Electronic Bulletin Board. We determined the feasibility of the project taking into considerations the environment and available resources. The Analysis phase included gathering information from existing procedures and end-users, defining technical and functional requirements, building prototypes, prioritizing requirements, evaluating alternatives, and reviewing recommendations with management.The design phase included designing and integrating the network, application architecture, specific stakeholder and user interfaces, system integration interfaces, database engine, and system controls.
During the development and implementation phase, we constructed the software components, performed verification and testing, developed prototypes for tuning, converted data, installed the system, produced user and system documentation and trained staff.
At implementation the solution was settling an average of $15 Million Dollars per week.