Transforming a Low-cost TIN Validation Tool to a Million-Dollar Revenue Generator
Every adult person or business has a Tax ID (TIN). Depending on the type and status of the TIN, a tax could be charged on the transaction between counterparties (buyer/seller). For businesses, not knowing if the counterparty is a business or not to calculate tax accordingly could mean paying out of your pocket and/or increase penalty risks.
Lookup is a Know Your Client (KYC) suite that verifies counterparties' tax status by validating Tax ID Numbers (TINs). I lead a user-centric design approach with a modular architecture to simplify manual workflows and prepare the product for hyper-growth.
Today, Lookup validates over 1,500,000 TINs/mo. for our clients that prevents upwards to €100,000,000 loss of margin.
Manual Workflows and Human Errors are the key challenges to compliance.
Manual Processes
Without automation, the validation process was slow and prone to errors. Tax Managers spent significant time on repetitive, low-value tasks.
Frequent Validation Errors
Errors due to minor formatting issues led to frustration and inefficiencies, slowing down onboarding and increasing compliance risk.
Lack of Strategic Insights
Tax managers expressed a need for high-level insights to support compliance monitoring and position tax as a strategic business function.
Aid manual processes
Streamlining TINs upload, TIN format verification, etc. to showcase an intuitive tool, simplifying the technical aspect of an API-first product in sales demos.
Provide guidance and feedback
To minimise errors, enhance Tax Managers' self-serve capability and operational efficiency.
Streamlined CSV Instructions
Simplifying data, preventing errors, and enhancing DemosIntroduced to reduce high error rates caused by incorrect data formatting. Early usability testing revealed users struggled with data formatting for TIN validation. Offers a clear guide with a downloadable CSV template, enabling users to input data accurately and minimise formatting errors.
- Enable Tax Managers to understand data requirements and upload TINs manually with minimal efforts and errors.
- Clarifies data requirements, reduced client's effort to understand data required, improving client satisfaction.
- Increased product's MAU by 25% one month after launch.
- Boost product appeal in demos, opening up commercial opportunities.
Compliance Analytics Dashboard
Provides insights and elevates Tax to a strategic assetAs Lookup matured, a need emerged for high-level insights to support strategic decision-making, especially for enterprise clients. Leveraging data visualisation to present insights clearly, minimising the effort required to interpret data.
- The added strategic layer and actionable data empower Tax Managers to allocate resources efficiently, resolve recurring issues, and take a proactive compliance approach.
- With enterprise-grade analytics, Lookup evolved into a comprehensive compliance management solution, attracting large clients and boosting retention.
- Positioned the product as a premium offering, significantly contributing to its growth into a million-dollar revenue generator.
Error Management System
Makes troubleshooting a less dreaded taskCraft clear, helpful error messages and present error analytics in an insightful format, transforming error management from a guessing game into a structured, preventable process.
- Tax Managers can address compliance errors swiftly and independently, minimizing delays and support dependency.
- Standardised and improved error messages across +20 Tax authorities and languages.
- Error rates decreased by 8.5% one month after launch.
- Reduced CX tickets by 12%.
Restructuring product architecture to improve workflow efficiency
Initially, the Validation page presented Single and Batch validators separately to align with existing workflows. However, user insights revealed that users' primary goal was to understand the TIN status and gather insights from the validation, rather than the act of validation itself. I iterated by regrouping the Single and Batch Validator with their respective results into two pages: Validate (Single & Batch) and Records (Single & Batch). Simplifying the validation flow removed an extra step between task and outcomes, enhancing the user's decision-making capability and transforming their approach from tactical to strategic.
A user-centric design strategy should always be adaptable
By uncovering and addressing users' Jobs To Be Done (JTBDs), you ensure the product meets essential user needs while leaving space for growth and innovation. An adaptable design strategy starts by envisioning the ideal state, then scales back to an MVP — balancing meeting current user needs and business goals with maintaining innovation and scalability.
Fewer features, more impacts
Adding a CSV guide with clear instructions and a downloadable template reduced errors from incorrect data formatting. Small, user-centric features can have a substantial impact on user experience and efficiency, demonstrating attention to detail that enhances both functionality and client satisfaction.