Our client was based in the United States, Ohio, where they are on a mission to help small business owners know, grow, and show the value of their small business so they can retire on their terms.
The client used to sell consulting services to businesses for valuation and also sold his own proprietary algorithm to derive the value of the small business. This tool is developed by the client himself in a large excel having numerous tabs to capture data about a business's past performance. based on which excel tool will forecast the next 5 year’s performance and compare the business’s performance with average industry performance. Additionally, the excel tool will also calculate and provide clear insight on buying a business with a financing model from banks and owners.
The key problem with the current approach of the excel tool was:
Satva's team understood the problem and proposed to develop a SaaS-based web application, where his proprietary logic will be coded in programming language and can not be decoded or resold illegally by anyone
The Satva team executed the Valuation SaaS Application in a waterfall manner for the first two phases Requirement Gathering and UX Design. Because it was necessary to give the total cost of ownership to run SaaS Product.