Digital Product Development
SRS Acquiom, leading experts in the management of private mergers and acquisitions, saw major inefficiencies within the M&A industry. They came to Spire Digital with an idea for a digital product that would revolutionize the way post-closing payments are handled. In the spring of 2014, Spire led the digital product development effort, defining a minimally viable product and roadmap for what would become the industry’s first online service for M&A payment administration: SRS Acquiom’s Clearinghouse.
SRS Acquiom realized that many M&A transactions were done in an unnecessarily tedious and expensive way, and that the solution to this was custom software. They wanted to develop a responsive user-friendly interface that would allow shareholders in private M&A transactions to get paid within hours as opposed to weeks or even months. The workflows had to allow for simple, paperless submission of documents, license on transfer and timely payments, in addition to establishing trust and credibility, all the while guiding users through a secure and errorless experience.
Software Product Roadmap
Spire met with SRS Acquiom stakeholders to define the MVP and seed a prioritized product roadmap and backlog. The Spire UX team then designed the workflows, UI kit and screens that would become the public-facing Clearinghouse. Meanwhile, SRS Acquiom and Spire engineering teams imagined, designed and built a service-oriented architecture that powers the Clearinghouse engine in the elegant, scalable and speedy delivery of data, including multiple API integrations and Ajax calls. Once all the necessary security and compliance requirements were in place, Spire and SRS Acquiom were able to bring the product to life within an eight-month timeframe.
$120 Billion in Transactions
Clearinghouse launched successfully in May of 2014 and has since processed over 700 M&A deals and managed $120 billion in M&A transactions. Through Spire’s custom software development and fully responsive user interface, SRS Acquiom was able to bring to life the industry’s first online payments administration service.
In building our products, Spire brought a level of thought leadership that was very necessary. They define innovation and bring new, unexpected ideas to the forefront. No other firm is quite like Spire Digital, and that is a very good thing.
CEO, SRS Acquiom