Viewpost

Dynamic Discounting

Viewpost is a B2B invoicing and payment platform that has processed over 25 million invoices, including $45 bilion in invoices and $3 billion in payments.

Dynamic discounting is traditonally used by small vendors to improve their cash flow by offering a discount to large customers with excess cash for paying invoices early. In exchange, Viewpost receives 30% of customer savings.

With over $45 billion in invoices on the Viewpost platform, the potential revenue opportunity by increasing user adoption is tremendous.


Objective

Increase vendor and customer participation in dynamic discounting.

Role

Strategy, UX Research & Design

Date

Aug 2016 - Jan 2017

Research & Understanding

I conducted interviews with internal stakeholders, SMEs, and users to understand how the discounting system works, collect pain points, and identify areas for improvement.

Research Insights

Businesses traditionally pay invoices as late as possible to best utilize cash, so this feature would need to encourage a major behavior change.

Customers are willing to pay early for a discount, but are intimidated by complicated rules, manual setup, and a lack of financial acumen.

The Initial Design & Pain Points

I synthesized the discounting process into three main steps, with major pain points outlined below.

Customer Enables & Configures Discounting Vendor Sends Invoice & Requests Early Payment Customer Reviews & Pays Early

Customer Enables & Configures Discounting

Feature was buried in a tertiary settings menu, despite being a flagship revenue-driving feature of Viewpost.

Without context and guidance, customers weren’t incentivized to enable the feature.

Confusing rules and unfamiliar concepts.

Vendor Sends Invoice & Requests Early Payment

Sending an invoice and requesting early payment were disassociated steps.

Customer preferences resulted in an inconsistant experience for Vendors.

Requests were made one at a time, requiring input of several fields with no default values.

Customer Reviews & Pays Early

Customers receive an email and navigate to a separate page to view early pay requests.

Requests had to be accepted within 72 hours, which drastically limited the usefulness of the feature.

Using the results of my research and analysis, I created four design goals that would guide my exploration and final design.

Design Goals

Simplify the underlying business process.

Better communicate the value of dynamic discounting to users.

Decrease friction for offering, reviewing, and accepting discounts.

Improve discoverability of the feature.

Ideation

Customer Settings

I explored multiple directions and questioned every aspect of the feature, seeking feedback from users and internal business stakeholders as I iterated and developed higher fidelity flows.

Vendor Request

I explored many different ways to express the concept of dynamic discounting to vendors. Early in the process, we decided to allow vendors to offer a discount when creating an invoice, which required a redesign of the invoice creation process.



The Final Design

We reduced the number of steps and removed the need for customer opt-in to improve feature visibility and adoption. Customers can optionally set up discount strategies to further maximize their savings.

Vendor Sends Invoice with
Early Payment Offer
Customers Receives Offer on
Invoice & Pays Early

Vendor Sends Invoice with Early Payment Offer

Sending an invoice and requesting early payment were separate steps.

Customer settings resulted in an inconsistent experience for Vendors.

Requests were made one at a time, requiring input of several fields with no default values.

Customer Receives Offer on Invoice & Pays Early

Offer is clearly presented on the new invoice detail screen.

Early payment is incentivized by highlighting the discount against the original amount.

Optional: Customer Optimizes Savings

Customers can now optionally create and manage more advanced discount strategies.

Strategy information is clearly laid out and includes important metrics such as the return and amount of savings.

Customers are guided through the creation of new strategies.

Results & Further Considerations

Due to the scale of the project, we broke the design into multiple phases for development and release. The initial improvements to the vendor offer process and removal of customer opt-in alone have already shown results.


6x increase in user participation

2x increase in revenue

We also came up with several feature enhancements that could be implemented in a future release.


Further Considerations

Provide more feedback into how likely a customer is to pay early based on all the payment data we will collect.

Create a vendor settings page to manage discount settings per customer.

Continue to make discounting more automated, smart, and insightful for the customer.