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Let the cash flow: New target group and product for abcfinance

Financial Services

In collaboration with etventure, the digital unit of abcfinance GmbH developed a new digital tool for modern factoring within just a few weeks, generating true new business: Cashfox. At the same time, the employees involved acquired new methodological expertise and an agile mindset, which they implemented and continued as part of their work in their own digital unit. Today, Cashfox is firmly established in the market. Thus, abcfinance gained a new target group and was able to strengthen the loyalty of its sales partners as well as expand the product portfolio.

Impact

Access to new target group and stronger binding of sales partners

User-centered product portfolio expansion

Double-digit factoring volume processed (in € million) via Cashfox in a short period of time

abcfinance
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Markus Wernicke

CEO abcfinlab GmbH

Through etventure, we have not only learned about methodological skills and the corresponding tools, but above all have been given a new digital mindset that we can apply anew every day.

Michael Mohr

Spokesman of the Management Board abcfinance GmbH

With the support of etventure, we have built up a corporate startup in a very short time that generates, validates, and independently implements exciting innovations and new business models without being tied to existing structures.

abcfinance GmbHabcfinance is a specialized financial services provider of Wilh. Werhahn KG that focuses on the financing needs of medium-sized companies. The company had total assets of €3.2 billion in 2019 and employs around 670 people.

Success factors

abcfinance - Cashfox Tool

Fast, user-centric approach and execution

  • Client’s existing idea was validated with click dummies and brought to MVP realization in just a few weeks
  • Minimal Viable Product (MVP) was implemented and launched in less than 2 months
  • Target group oriented branding concept for the MVP was developed in co-creation with abcfinlab
  • After project completion by etventure MVP was further developed into the factoring platform “Cashfox”, which today offers immediate liquidity for SMEs, self-employed persons and freelancers

Enablement of employees

  • Five employees from the core organization were trained on the job in agile methods and became innovation managers. They were also taught a new digital mindset by etventure
  • Partner company Unternehmer-Schmiede provided support in selecting new employees for the Digital Unit and in setting it up
  • Digital Unit abcfinlab GmbH has more than 20 employees now and is driving digital transformation
  • Continuous and successful exchange of ideas with the core organization to promote joint collaboration and transfer knowledge and expertise

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