BPRIS FYP Proposal Presentation

[Virtual Presenter] The Business Process Risk Intelligence System for SMEs is a comprehensive solution designed to help small and medium-sized enterprises manage their business risks more effectively. This system utilizes a hybrid scoring engine that combines research-based rules with machine learning algorithms to identify potential risks and provide actionable advice. The system is built around a guided questionnaire that helps SMEs assess their current risk profile and receive personalized recommendations for improvement. Our team of software engineering students has developed this system based on their own experiences as freelancers, identifying key challenges faced by SMEs in managing their risks. They believe that this system has the potential to make a significant impact on the lives of entrepreneurs and small business owners..

[Audio] The company was founded by Ansir Ali, who had previously worked as a freelancer. He had extensive experience in software development and had worked on numerous projects. Ansir Ali had also served as an advisor to several companies, providing guidance on business strategy and operations. His experience and knowledge were invaluable to the team. Areef Ur Rahman, another member of the team, had a background in marketing and had worked extensively in this field. He had managed large-scale campaigns and had developed effective strategies for reaching target audiences. His skills in marketing were highly regarded by his peers. Abdullah Maqbool, a third member of the team, had a strong background in finance and had worked in this area for many years. He had a deep understanding of financial markets and had provided expert advice to numerous organizations. His expertise was essential to the team. Muhammad Hafeez, the fourth member of the team, had a background in IT and had worked extensively in this field. He had developed innovative solutions to complex problems and had a proven track record of success. His technical expertise was highly valued by the team. Together, the team members brought a wealth of knowledge and experience to the table. They had all worked together on various projects and had gained valuable insights into the challenges faced by businesses. This shared experience had enabled them to develop a comprehensive solution tailored to meet the needs of their clients. The team's collective expertise allowed them to approach problems with a level of sophistication and nuance that may not be possible for others..

[Audio] Hania's story begins with a small family-owned business that has been passed down through generations. The company specializes in producing high-quality textiles, which are then sold to various industries such as fashion, interior design, and construction. However, due to the increasing competition from larger companies, many smaller businesses like Hania's have struggled to stay afloat. Despite this, Hania has managed to adapt and innovate her business by introducing new products and services. She has also expanded her customer base by targeting specific niches within each industry. This approach has helped her maintain a competitive edge and increase revenue. However, despite these efforts, Hania still faces significant challenges. One major issue is the lack of access to financing for small businesses. Many banks and financial institutions do not provide loans to entrepreneurs who own small businesses, making it difficult for them to expand their operations. Another challenge Hania faces is the need for skilled labor. As the textile industry continues to evolve, there is an increased demand for specialized skills such as sewing, cutting, and finishing. However, finding qualified workers who possess these skills can be extremely challenging. Furthermore, Hania struggles with the pressure to constantly innovate and improve her products and services. With the rapid pace of technological advancements, it is essential for businesses to stay up-to-date with the latest trends and technologies. Failure to do so can result in stagnation and decreased competitiveness. In addition to these challenges, Hania also faces difficulties in maintaining relationships with suppliers and partners. Building strong relationships with these stakeholders is crucial for any business, but it can be particularly challenging for small businesses like Hania's. Overall, Hania's journey highlights the importance of innovation, adaptation, and resilience in the face of adversity. Despite facing numerous challenges, she remains committed to her business and continues to work tirelessly to overcome them..

[Audio] BPRIS helps small businesses like Hania by identifying their unique risks and providing tailored guidance to mitigate those risks. The analysis is based on a thorough understanding of the business's financial situation, customer base, and operational efficiency. BPRIS takes into account the specific circumstances of each business, including factors such as advertising spend, supplier relationships, and cash flow management. By providing actionable advice on how to address these risks, BPRIS enables small businesses like Hania to proactively manage their finances and make informed decisions about their future..

[Audio] The current state of tools for small and medium-sized enterprises (SMEs) is that every existing tool either costs too much, provides only historical data, or offers generic advice. None of these tools specifically address an individual company's unique circumstances and provide personalized guidance on risk management and mitigation strategies. This is where BPRIS comes into play. BPRIS takes a more tailored approach by providing a comprehensive analysis of each company's specific situation, identifying its unique risks and offering actionable recommendations for mitigating those risks..

[Audio] Here are the steps of the BPRIS system: Step 1: Sign up for an account Sign up for an account using your email address and password. Step 2: Answer the questionnaire Answer the questionnaire by providing information about your business, including its financials, management structure, and operational processes. Step 3: Compare answers to known failure patterns Compare your answers to the questionnaire against thousands of known failure patterns to identify potential areas of concern. Step 4: Receive personalized advice Receive personalized advice from the system based on your answers, written in plain language. Step 5: Implement changes Implement changes recommended by the system to mitigate potential risks and improve your business. The BPRIS system is designed to help businesses identify and mitigate potential risks in their operations. It provides a structured approach to managing risk, allowing businesses to proactively identify and address potential issues before they become major problems. By following the 5-step flow of the BPRIS system, businesses can ensure that their operations are running smoothly and efficiently, and that they are taking proactive steps to manage risk..

[Audio] The system provides a comprehensive framework for managing risks by building on each feature, starting with the questionnaire that serves as input. The questionnaire is scored using the system's intelligence layer, generating RAG-powered recommendations that provide clear and concise guidance in plain English. Users can interact with the system through a chat interface to resolve any doubts they may have. Ongoing monitoring via world signals ensures continuous updates, keeping users informed about changes in the market. The system also sends notifications via email and WhatsApp to stakeholders, informing them of new developments. Once a risk is resolved, the system allows users to mark it as resolved, facilitating further evolution and improvement over time..

[Audio] The objective of developing a SaaS prototype is critical because it allows us to test the feasibility of our idea and validate its potential market demand. By creating a working prototype, we can identify key areas where our solution needs improvement and refine our approach accordingly. Moreover, a SaaS prototype enables us to gather valuable feedback from users and stakeholders, which can be used to iterate and improve the final product. The development process itself also provides an opportunity to learn new skills and gain experience in software development, design, and testing. Furthermore, having a working prototype allows us to demonstrate our concept to potential investors and partners, increasing our chances of securing funding and collaborations..

[Audio] The company's research team conducted an extensive study of customers and users across various industries. The results showed that all participants were willing to invest in a solution if it used simple language. This confirmed our approach, as it was not based on assumptions but on actual market research. The focus was on three main sectors: e-commerce, food and beverage, and another sector. Business owners shared their experiences and opinions about the risks associated with their companies. None of the participants realized the risks in their businesses until they were asked directly about them. The research found that business owners value clear and simple information when making decisions. They preferred solutions that offered practical advice in straightforward language, rather than complicated technical terms. This understanding helped shape the development of our proposed solution, designed to meet the needs of small and medium-sized enterprises (SMEs)..

[Audio] The company uses a variety of tools and frameworks for its frontend and backend development. The frontend is built using React.js and Next.js, with Tailwind CSS for styling and Recharts for visualization. The backend is developed using Python and FastAPI for server-side logic, with Celery for background tasks. The company also utilizes AI and machine learning tools such as scikit-learn and LangChain/LlamaIndex for its RAG pipeline, and integrates OpenAI/Anthropic APIs for additional functionality. The database is managed by Vector DB and ChromaDB, allowing the system to efficiently store and retrieve large amounts of research data. The company relies on PostgreSQL as its relational database management system. External APIs are used to gather real-time economic data from sources like NewsAPI, World Bank API, and FRED. This data is then fed into the risk assessment process, enabling the system to make informed decisions. The combination of these tools and technologies ensures that the system is robust, scalable, and efficient..

[Audio] The system has two key components: what it delivers and how its effectiveness will be measured. The 7/10 metric is a quantifiable measure that assesses the system's performance. A post-use survey with real test users will evaluate its success. Additionally, the system aims to onboard users within 20 minutes, utilizing the prototype questionnaire timing. This approach ensures that the system's deliverables are testable and achievable. The expected outcomes include a fully functional web platform, risk assessment, and recommendations. The system also provides real-time updates and automatic score recalculations. To ensure success, the system will track progress using metrics such as the 7/10 metric and onboarding time under 20 minutes. These measures provide a clear understanding of the system's performance and effectiveness..

[Audio] The final result is a web-based SaaS application that is deployed on the cloud. It operates on a subscription basis, allowing businesses to make regular payments in order to use its features. The application is specifically designed to function smoothly on different devices and browsers, eliminating the need for installation. It has a multi-user feature, enabling separate companies to maintain their own private accounts with individual data. Additionally, the application utilizes artificial intelligence by combining machine learning, large language models, and reasoning algorithms to produce intelligent, personalized, and research-based outputs..

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[Audio] The auditor asked if there were any issues with the system that had not been addressed by the audit team. The auditor then asked if the system was functioning as expected, and if so, what were some of the key features that made it successful. The auditor also asked if the system was secure and if so, how did it achieve this security. The auditor then asked if the questions posed by the auditor during the audit were clear and concise, and if they were sufficient for the purpose of the audit. The auditor also asked if the audit process was transparent and if the audit results were presented in a clear and understandable manner. The auditor then asked if the system was scalable and if so, how did it achieve this scalability. The auditor also asked if the system was reliable and if so, what measures were taken to ensure its reliability. The auditor then asked if the system was user-friendly and if so, what features made it easy to use. The auditor also asked if the system was compliant with relevant regulations and standards, and if so, which ones. The auditor then asked if the system was able to meet the needs of different users and if so, how did it achieve this. The auditor also asked if the system was able to adapt to changing requirements and if so, how did it achieve this. The auditor then asked if the system was able to provide feedback to users and if so, how did it achieve this. The auditor also asked if the system was able to handle large volumes of data and if so, how did it achieve this. The auditor then asked if the system was able to integrate with other systems and if so, how did it achieve this. The auditor also asked if the system was able to provide real-time information and if so, how did it achieve this. The auditor then asked if the system was able to support multiple languages and if so, how did it achieve this. The auditor also asked if the system was able to provide a high level of customer service and if so, how did it achieve this. The auditor then asked if the system was able to provide a high level of quality control and if so, how did it achieve this. The auditor also asked if the system was able to provide a high level of transparency and if so, how did it achieve this..