Secure Loan Covenant Compliance
#rails #finance #b2b


Singlebrook helped design and build a sophisticated, interactive web questionnaire and reporting application that is an integral part of our SaaS product offering. Singlebrook has also acted as our CIO, helping us deal with the myriad issues involved with establishing and managing an SaaS product. With the application’s scalability, we expect that our sales will continue to increase. We highly recommend Singlebrook for your web technology needs.

Jeff Wallace, Cofounder, Debt Compliance Services, LLC

Summary

For Debt Compliance Services LLC, we created a user-friendly, web-based tool for corporate customers to assess their compliance with covenants in loan agreements. By bringing this formerly painful, spreadsheet-based process onto the web, we have been able to provide a collaborative workspace for organizations to not only better manage their compliance processes, but also to gain access to best practices developed by founders Jeff Wallace and Jim Simpson.

Details

Singlebrook has crafted a comprehensive web application that handles all aspects of the debt compliance process. Due to the sensitive nature of the financial data, we have focused on the security needs of this application foremost. Atop this solid foundation, we provide the means for organizations to distribute questionnaires to their “subject matter experts” for covenants that relate to legal, treasury, accounting, intellectual property, insurance, taxes, material contracts, liens, sales of assets, and other matters.

As Debt Compliance Services grew, they discovered more pain points that their customers were experiencing. For example, some customers were struggling with verifying that their scheduled payments and other recurring tasks were happening at the right times. Jeff and Jim conceived a new product, the DCS Calendar Manager℠, to solve this pain point. We worked closely with them to create the new product in such a way that it was beautifully integrated into the existing application. This new product helped Debt Compliance Services to acquire new customers.

The Relationship

Singlebrook was involved in some very early conversations with the founders of Debt Compliance Services, and helped to shape the technology that would eventually enable that company’s success. Ever since then, we have continued to be a committed technology partner of Debt Compliance Services, working closely together to continually improve the application, allowing the company to serve more, larger customers. Our collaborative working style and focus on craftsmanship have helped to ensure the reliability of the application, even as add new features and upgrade software.

Technology

The Debt Compliance Services survey application consists of a Ruby on Rails stack, served by the Apache web server on a Rackspace virtual cloud server. The MySQL-compatible MariaDB is the primary datastore, although the application also interfaces with Microsoft Access databases, allowing for mass imports and exports of data. A separate MediaWiki site that contains the debt agreements cross links to the web questionnaire and the compliance reporting. Perhaps the most essential feature the application offers is robust reporting, enabling managers in charge of ensuring compliance to delegate questionnaire and covenant deliverable responsibilities to other members of their organization and monitor individual progress, review collated responses, and many other possibilities.