Revenue protection software
Dairy Revenue Protection /product
A software solution created to protect revenue and commodities prices.
Cross-functional development team consisted of
- Architect
- Project manager
- Backend developers
- Frontend developers
- Quality assurance engineer
Dairy Revenue Protection is a simple crop insurance program that allows producers to put a floor on a milk income and manage dairy price risks. This allows them to cover their losses if the milk or commodity market price goes down.
coverage of
CONCEPT
This software is designed as a simple insurance solution that sets the minimum (lower limit) of milk income for a farmer. A farmer pays insurance to make sure that the milk price will be at least one that he paid for. Dairy Revenue Protection is implemented as a calculator that calculates the premiums (insurance cost), expected income, and guaranteed income based on the milk quantity, quality, location, insurance period, and current milk price.
TECHSTACK
Backend
Java Spring Boot with Hibernate and JPA
Liquibase
Frontend
Angular
Database
In-memory solution
Build and deployment
AWS
VALUE
Dairy Revenue Protection serves as a tool for U.S. dairy producers that protects them from market volatility.
It insures against unpredictable milk sales revenue drops, caused by yield or price drops, by covering the difference between quarter-based final revenue guarantee and actual milk revenue.
PROCESS
Initial rough documentation accompanied by an excel spreadsheet (containing detailed calculations) has been prepared. That was a basis for ERA modeling. Rough wireframes have been created and communicated with the key stakeholders. Eventually, the final design has been created and confirmed. Each functionality from the documentation has been developed within a series of two-week SCRUM sprints. The quality of the solution has been ensured through continuous code reviews, integration testing, and QA manual testing practices.
Discovery
Meetings with clients
Business analysis
Architecture
Creating diagrams
Writing documentation
UI/UX Design
Wireframes Design
Fine detailed designs
Development
Frontend
Backend
Quality assurance
Infrastructure & Support
Infrastructure as a Code
Bug-fixing
Implementing improvements
CONCLUSION
A financial risk management software solution serves the producers of inputs to help them ensure their revenue and prices in a market with constant changes. Providing a calculator for premiums and consulting, this digital product brings business stability and transparency to once turbulent industries.
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