AI-Enabled-FinTech-B2B-Invoice-Management-Application

DEMO VIDEO

Demo.Video.mp4

Business Overview

The B2B Invoice Management Application is designed to streamline and automate the invoicing process for businesses operating in a business-to-business (B2B) environment. Unlike the business-to-consumer (B2C) or consumer-to-consumer (C2C) sectors, B2B transactions involve businesses working with other businesses on credit terms. This application aims to assist businesses in efficiently managing their accounts receivable and improving cash flow.

B2B Operations

In B2B operations, when a buyer business places an order with a seller business, the seller generates an invoice for the goods or services purchased. The invoice contains essential information such as item details, payment terms, and the amount owed. This process is commonly referred to as "Accounts Receivable" in accounting terminology.

Credit Check Department

To ensure smooth operations and minimize risks, the B2B Invoice Management Application includes a credit check department. This department performs the following tasks:

• Validates the customer when an order is received.
• Verifies the available credit limit of the customer.
• Checks the purchase order received from the customer for inventory check.
• Calculates the exposure for a particular customer.
• Manages the entire process of order inflow.
• Facilitates the provision of services and product supply without disrupting cash inflow.

Problem Statement for Web Application Development

The objective of the Web Application Development internship project is to build a full-stack Invoice Management Application using React JS, JDBC, and Java Servlets. The application should provide the following features:

1. Build a responsive Receivables Dashboard.
2. Visualize data in the form of grids for easy analysis.
3. Perform searching operations on invoices for quick access.
4. Enable adding and editing data in the editable fields of the grid.
5. Allow deleting data of selected rows using predefined templates.
6. Implement a "Predict" button that populates the Order Amount column.

Solution Approach

To accomplish the above objectives, the following steps were taken:

1. Machine Learning Model: A machine learning model was developed using XGBoost. The model was trained on the available data after performing necessary data cleaning and feature extraction.

2. Backend Development: The backend of the application was implemented using JDBC (Java Database Connectivity) and servlets. The JDBC library facilitates database interactions and connectivity.

3. Frontend Development: The frontend of the application was created using React JS and Material-UI (MUI). React JS provides a robust framework for building user interfaces, while MUI offers pre-designed components for a visually appealing UI. The data from the backend was fetched using Axios, a popular JavaScript library for making HTTP requests.

Contact

For any inquiries or further information, please contact me at mishrahimanshu070@gmail.com.

Enjoy using the AI-Enabled FinTech B2B Invoice Management Application!