A comprehensive guide to web application development in 2021
- What is a Web Application?
- What is Web Application Development?
- Web Apps vs Mobile Apps
- Types of Web Applications
- Technology Stacks for Web Application Development
- Benefits of Web Application Development
- Web Application Development Process
- Web Application Development Validation & Deployment
- Web Application Development Trends
- The Cost of Developing a Web Application
- FAQs About Web Application Development
- Develop Your Web Application with Fingent
A decade ago, web pages were mostly static, with a few images and videos thrown in here and there. In 2005, however, thanks to Ajax, it made it possible to create better, faster, and more interactive web applications.
In 2021, though web application development has reached its peak of fame, web apps have become so common that they often go unnoticed. With a reputed web application development partner like Fingent, you can develop intuitive and custom web applications that simplify your day-to-day operations.
Web apps help integrate the tailored experience of native apps with easy access on a website browser from any device. LinkedIn, Basecamp, MailChimp, or even Facebook, all have web apps that provide immersive and tailored experiences like the native apps directly from the browser. That is why web application development is gaining a lot of popularity in almost all industries, including banking, eCommerce, education, healthcare, and more.
What is a Web Application?
Also known as a web app, a web application is nothing but a computer program that uses a web browser to perform a specific function. Contact forms, for example, are web apps present on many websites.
As a web application is a client-server program, it has a client-side and a server-side. Here, the client refers to the program the individual uses to run the application. It is a part of the client-server environment where many computers share data. A typical example of a web application is the database. Here, the user enters data through the client-side (front-end), while the server-side (back-end) of the application stores and processes the information.
Both enterprises and individuals develop web applications to fulfill different purposes.
Case Study: How we built Ambit AI, a light-touch AI-powered web application for processing workers’ compensation claims. Download Now!
What is Web Application Development?
Web application development refers to the process of using client-side and server-side programming to develop an application that is made accessible over the web browser.
In the initial phase of the web application development process, the developer tries to find a solution to a specific problem and then designs the web app by choosing the appropriate development framework. Later, the developer tests and deploys the web app.
Read more: The 101 Guide to Web Application Development
Web Apps vs. Mobile Apps
While web apps and mobile apps are similar in many ways, both are different in many ways.
Mobile apps are made exclusively for mobile gadgets and are suitable for Android, iOS, and Cross-platform operating systems. Usually, mobile apps are mobile-first, meaning they work effectively on smartphones, tablets, or other handheld mobile devices. Most mobile apps work offline too. Examples include Google Maps, Amazon Kindle, Uber, etc. On the other hand, web apps function only when you have internet connectivity. A web app functions in real-time in a web browser with CPU resources. As long as you have adequate internal storage, you can download a mobile app from an app store or play store.
Read more: How are Mobile Apps Different from Websites
Types of Web Applications
Typically, web applications are classified into three categories based on the tools and technologies it uses.
1. Client-side web application
You can consider client-side web app building when you don’t need to preserve the user information for more than one session. It is perfect for easy games or image editors. Google Earth is a leading example of a client-side web application.
2. Server-side web application
These are web apps that can be coded in several programming languages such as Python, C+, Ruby, PHP, etc. If you develop an app with just the server-side, then the outcome of any changes in the form submission, sections, and data updates will create a new HTML file and cause the web page to reload.
Server-side programming is beneficial if you want your web application to deliver information tailored for individual users. For instance, e-commerce applications like Amazon use server-side programming to create product search results, offer product suggestions based on past buying habits, enhance user experience, and simplify the purchasing process.
3. Single-page web application
Single-page applications are designed to work in a browser and do not require reloading while in use. Most of our daily apps, such as Facebook, Twitter, Google Drive, Gmail, etc., are single-page apps. Single-page web applications offer an unmatched user experience as the user doesn’t have to wait for page reloads. Single-page applications are highly responsive to user queries as they do not depend heavily on client-server communication.
Technology Stacks for Web Application Development
The following web development technologies enable you to create a high-performing, fast, and advanced web application.
1. Database technologies
Due to its simplicity and multifunctionality, MySQL is one of the most preferred databases utilized for web application development. Other popular database technologies include Oracle Database, PostgreSQL, Microsoft SQL Server, Microsoft Access, MongoDB, and RavenDB.
2. Front-end technologies
- React JS: This is a robust and most widely used JS framework for developing large-scale and complex dynamic web apps.
- Angular JS: A popular front-end framework by Google, Angular JS is suitable for building dynamic web apps, using HTML for static web pages.
- Vue JS: Fairly new, this JS framework does wonders for applications. Vue JS provides an ecosystem of assisting libraries and an accessible primary library for applying huge complex page apps.
- Backbone JS: This lightweight JS library has a RESTful JSON interface that follows the MVC (Model-View-Controller) application design standard. Backbone JS helps develop and structure the client-side applications that run in a web browser.
- Node JS: It is a cross-platform, open-source JS runtime that runs on the V8 engine and is designed to build scalable network applications.
- Ember JS: It is an open-source JS framework ideal for developing single-page applications.
3. Backend Technology
Frameworks such as Go, Ruby, Java, Django & Python are some of the most powerful back-end development technologies.
- Ruby: Ruby is an open-source, general-purpose, object-oriented programming language used to build highly secure and fast web applications.
- Java: A multi-purpose programming language, Java is leveraged for Android app development, desktop apps, and web app development. Java offers excellent security and stability.
- Django & Python – Python is flexible, advanced, and has a low learning curve. This programming language covers back-end web development. Python, along with its framework Django, can meet back-end development tasks efficiently.
- Go: Designed by Google’s developers, Go is an open-source programming language that is fast and statistically compiled. It helps build simple, reliable, and concurrent web applications.
Benefits of Web Application Development
- Speed and cost: Web application development is faster and more economical than building native apps. If your primary goal is to accelerate time-to-market, then web application development is the best choice.
- Cross-platform capabilities: Web applications can be programmed to run on any operating system. Due to their cross-platform capabilities, web applications can adapt well to Android, iOS, Mac OS, and Windows phones. Device responsiveness of web applications helps you get rid of OS dependencies.
- Browser compatibility: A web application runs on the device’s browser using an accessible URL. Modern web applications are compatible with all browsers, such as Google Chrome, Internet Explorer, Firefox, and Bing. So, you don’t have to face software compatibility challenges.
- No downloads needed: Web apps don’t need to be downloaded from app stores such as Apple’s App Store or Google Play. This helps save money since having a direct link through a web app is free.
- Easy to update: Updating web applications is easy, as only the server(s) would require upgrades.
- Cut operating costs: Web application development is a great way to cut operating costs. You can eliminate unnecessary expenses such as hardware purchases, frequent device updates, and maintenance of numerous systems.
- Custom web applications: Custom web application development offers several benefits as you can tailor the features for the users. These applications are easily accessible via browsers with a stable internet connection. Custom web apps help cut unnecessary expenses and save time as you only need to develop the required features.
A custom web app can significantly improve your business traction, brand awareness, communicate your brand ideology and help you gain a competitive edge in the chosen target market.
Web Application Development Process
Here is an overview of the steps we follow at Fingent for developing web applications.
The first step is to define the problem you want to solve with a web application and collect all the relevant information needed for app development. A well-defined problem will give an excellent head-start to the project and help you identify the best solution. Next, clarify the purpose as well as the end goals of the application.
Ask these questions during the planning phase:
- What app do you want to build?
- What features and functions should it include?
- What is the audience of your product?
2. Design and build
The designing phase involves creating a wireframe for communicating the solution to target users. Then, the developers can consider designing elements that will provide an enjoyable user experience to the target audience.
Post-design, the next step is to build (develop) the application. The following steps will happen in this phase.
- To create a database for storage, the developers need to determine what data and data types are required for the application to perform well.
- Based on the elements approved by the users during the wireframing process, developers will create the front-end application. For this, the developers need to identify the best frameworks for front-end development.
- Developers will create interaction between the user and the server.
- Developers can either code from scratch or use front-end and back-end frameworks to develop the web app.
- Based on the application type, that is, client-side/ server-side/ single-page, programming is done.
3. Test and implement
Whether it is an automated or manual web application, testing for the web application is an ongoing process throughout the software development lifecycle.
- The Testing (QA) team will have to test the app for usability, compatibility, functionality, security, and performance to eliminate bugs and ensure that the application works without any glitches.
- Testing also helps identify any possible improvements and upgrades to make in the future.
- Once the testing is completed, you can finally implement the application in your company or customers.
- When using it for your company, you will have to train your employees to use the app productively (if the app requires training).
- For customers, you will have to create a communication strategy and decide on the appropriate timing to launch the application in the market.
At Fingent, we help you perform all the mandatory software and usability testing to ensure that your web app functions seamlessly. We also provide training and support to use the apps effectively.
4. Hosting and Maintenance
You must buy a domain and choose a hosting provider to create a server location for the app. We help you choose shared hosting, dedicated hosting, or cloud hosting based on your requirements.
We also help you maintain the web application. Some of our application maintenance services include:
- Ongoing QA testing
- Bug fixes and improvements
- Addressing changes and adding features based on user feedback
- Providing regular updates and technical support
Web Application Development Validation & Deployment
Once your web app is developed and ready to be launched, remember it must be tested to ensure that the app functions correctly before its deployment. Bug fixing alone is not sufficient. Testing is vital to web application development.
We perform standard web application testing, such as:
- Usability Testing
- Performance Testing
- Application Security Testing
- Quality Assurance Testing and Bug Fixing
- Browser Compatibility Testing
- Responsiveness Testing (Responsive Web Design)
After completing the quality assurance process, your web app is ready for launch. You can use GitHub, Beanstalk App, and Bitbucket App to deploy the web app to your servers. Any new features, changes, and improvements to the deployed application are implemented according to the user’s feedback.
With over a decade of experience in web application development, Fingent helps you cover all these processes.
Web Application Development Trends
Here are a few trends you should know before starting your web application development project:
Of late, chatbots are gaining popularity, as many companies are incorporating these virtual assistants on their web application tools. A prime example, Google Assistant, is a popular chatbot that we all know. Chatbots are enabling companies to deliver more personalized content to the users and engage them better. Virtual assistants like chatbots help businesses convert a regular user to a potential customer.
Multi Utility Assistant or MUSA is an AI-powered virtual assistant (a chatbot) integrated with Fingent Hub – Fingent’s internal employee management system. MUSA enables employees to get answers to common queries related to HR and IT DevOps processes at Fingent.
Internet of Things (IoT) is another exciting web app trend you can’t afford to ignore. Digital transformation has increased the number of connected devices all over the world. The need to connect between business applications and sensor technologies will affect the web application development process. Hence IoT is a must-watch development trend today.
Alexa, Uber, and Google Home are a few examples of IoT-based connected applications. Experts estimate that by 2025, over 75 billion devices will be connected to the internet. So, if you want to be on the popularity wave, make sure to use this digital trend in your web app development.
Read more: IoT: Why and Where Should You Invest
3. Mobile and web app development optimization
To get a high SERP ranking and get to the top of your industry inquiries, you will have to optimize your web application for mobile and web platforms. Search engine optimization is crucial to bring potential leads to your application and boost your brand awareness. So, optimize your web application’s content, layout, and design for both web and mobile. Google prioritizes the responsiveness of websites when it comes to search. So, the adaptive web layout plays a vital role in the Google search process. Use techniques such as AMP (Accelerated Mobile Pages) to enable your web app pages to be served more quickly.
The Cost of Web Application Development
Numerous factors influence the cost of web application development. As no two apps are the same, the price will vary, based on:
- Features and functionality of the web application
- Complexity of the application
- Phase-wise development plan
- Various modules included
- Platforms selected to develop the app
- technology stacks selected
- Estimated project timelines
The cost of a complicated and custom web application development process would again differ from pre-defined, packaged, and general-purpose applications. For example, if the app requires developing APIs and plugins or if it uses complex technical stacks, separate UX/UI elements, brand identity development, etc., the pricing will go up as the advantages are humongous.
FAQs About Web Application Development
1. What is better: Multi-page Website or Single-page Website?
While both are good at their place, most people prefer the single-page website. This is because a single-page website offers ease of interaction and access compared to a Multi-page website.
2. Is it necessary to include chatbots on the website?
If your business has a lot to do with queries and solutions or customer interactions, it is recommended you get a chat window.
3. Should a website be built using frameworks or pure codes?
For quality web application development, you should include both as it will help you avail more benefits.
A combination of frameworks and pure codes will work as it will take lesser time and also ensure quality development.
4. What are the common technologies used in web app development?
Some of the renowned web app development technologies are:
- Models: HTML, XSL, XML
- Databases: MS SQL, MySQL, Microsoft Access, SQLite, Oracle, PostgreSQL
- CMS: WordPress, Drupal, Joomla, Kentico, Sitecore, Sitefinity, Sanity
- Programming: C#, PHP, ASP, ASP.NET, ASP.NET+MVC, Python, Ruby, Django, Go
- Payment Systems: PayPal, Assist, MoneyBookers, SMS, OSMP
Develop Your Web Application with Fingent
Web application development is mandatory for your organization to lead the digital space and reach more customers in the future. Through web applications, you can do brand building, increase brand awareness among customers, promote your products and services effectively, and gain a competitive advantage. For more than a decade, we have been helping businesses -small and large- develop custom web applications that were crucial in improving their profits, performance, productivity, and overall operations. Interested to learn more? Contact us right away.
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Custom patient engagement platforms improve caregiver-patient interactions today. Here’s how.
With the COVID-19 pandemic restricting face-to-face engagement, patients have started using telehealth (telemedicine) technology and other digital channels to receive healthcare services. The growth of digital healthcare will increase the demand for healthcare technologies in the future. 81% of people (patients) want healthcare providers to know them individually and deliver more personalized and meaningful experiences.
While support programs like teleconsulting do not replace the physical presence of healthcare providers, they offer valued information, which is the need of the hour. With stay-at-home mandates, social distancing, and lockdowns, telemedicine is the vital care model that boosts patient engagement today. Personalized patient engagement fosters trust among patients and ensures continuity of care. So, in times of pandemic and beyond, patient engagement platforms will play a crucial role.
Patient engagement and its growing significance
In simple terms, patient engagement is a concept where patients are actively involved and considered important decision-makers in their care.
Engaged patients are:
- Informed- as they understand their health status and the treatment.
- Empowered- as they believe they can change their health outcomes.
- Heard- as they can communicate with their providers better and participate in shared decision-making.
What is a patient engagement platform (PEP)?
A patient engagement platform is an application that enables patients to interact with healthcare providers via their mobile device, tablet, or computer. The patient engagement platform keeps the patients involved beyond the four walls of the hospital.
When implemented effectively, patient engagement platforms can help streamline access to medical records, provide appointment reminders, enable self-scheduling for patients, and deliver patient education or awareness.
How do patient engagement platforms help?
Patient engagement platforms (PEPs) can help automate the following processes.
- Send reminders to patients regarding their postoperative treatment protocols
- Allow patients to update mobility reports and pain score
- Deliver educational content
- Manage images of wounds
- Record and monitor health vitals like BP, FBS, BMI, etc.
Read more: 7 major impacts of technology in healthcare
What are the benefits of a patient engagement platform?
1. Ease the patient engagement process
A customized patient engagement platform helps improve your patient experience by assisting them in scheduling medical appointments. It can also help notify patients about their next visit to the clinic, or when they need to check their health vitals, or when their current medication course will be over. In addition, caregivers can use the patient engagement platform to track a patient’s medical history and use the data to channelize treatment plans when the patient pays a second visit.
2. Enable caregivers to focus on core competencies
With a patient engagement platform in place, patients can fill in medical forms, electronically scan their insurance cards, and consent from their mobiles, laptops, or computers. It will allow healthcare providers to focus on their core competencies and saves patients from standing in queues or long wait times. In addition, it can expedite the care delivery process during an emergency.
Case Study: Fingent partnered with Casenet’s Advanced Solutions Group to develop TruCare Insights as a reliable population health management platform. Download Now!
3. Empower care providers to make informed decisions
Healthcare organizations can use information like satisfaction scores, online appointments, wait times, and ROI to make informed decisions related to staffing and identify opportunities for improvement. Custom patient engagement platforms allow clinicians to track all this information effectively. It goes a long way in supporting clinical decision-making.
4. Optimize healthcare throughput
Patient engagement platforms allow online registration that ensures patients have less waiting time in the clinic. It enables healthcare providers to attend to more patients in a given time and improve data accuracy and demographics. In addition, patient engagement platforms spare medical professionals from time-consuming and manual data management processes so that they get time to receive advanced medical training. Nurses, physicians, administrators, and other hospital staff members can streamline their communication, increase staff satisfaction, and utilize data analytics to make strategic decisions.
Benefits to the patients:
- Patients are aware of the next steps, such as diet plans, exercises, medication plans, or next clinical visit
- Consistent and transparent care will be available 24/7
- Augmented patient engagement and experience
- Improved communication lowers preoperative stress and anxiety
Case Study: How did a data analytics solution help NHS gain financial, clinical, and geographical insights to improve visibility over their KPIs? Read Now!
What to look for in a custom patient engagement platform?
Given the changes in patient behavior, expectations, and changing healthcare landscape, healthcare providers will have to ramp up patient engagement strategies and implement the latest engagement technologies. Patient engagement platforms must enable providers to determine the best ways to deploy their expertise and services to their patients.
So, make sure the patient engagement platform has the following capabilities.
1. EMR integration
The patient engagement platform should integrate with Electronic Medical Records (EMR). For example, the platform should receive data from the EMR, such as a referral or recall, and revert to the EMR.
2. Sentiment analysis
The main aim of patient engagement is to understand patients on a deeper, emotional level. So, it is crucial to leverage sentiment analysis technology. This will enable providers to recognize when a patient is happy or frustrated and respond accordingly.
3. Real-time and interactive patient communication
The platform must encourage bidirectional communication, specifically text-based messaging. In short, patients must be able to communicate with their health system easily.
4. Chatbot functionality and keyword actions
The use of chatbots and keywords in patient engagement platforms is trending. It helps reduce human intervention. So, the patient engagement platform should allow for automated responses to common questions such as “where are you located?” The platform must also enable keywords to trigger automation, such as scheduling a ride for patients who need a lift.
5. Patient on-boarding
The platform should drive patients to the patient portal and help them register quickly and conveniently to get medical support on time.
6. Integration with other vendors
A single app can’t solve it all. It is just not feasible and is also not in your patient’s best interests. Make sure that your patient engagement platform integrates seamlessly with your other vendors. For example, the platform can offer billing features or even integrate with medical billing software, medical invoice management software, etc.
7. Boost employee adoption
Your staff must like and accept the patient engagement platform. If they don’t appreciate the new technology, it won’t fulfill its potential. In addition, you must ensure that the patient engagement platform enjoys enterprise-wide adoption and has a user-friendly UX and UI.
8. Offer multilingual support
As not all patients speak English, you will have to ensure that the platform supports different languages used or spoken widely by your patients.
Why should you adopt a custom patient engagement platform?
A custom patient engagement platform is specifically developed for your organization to cover your unique healthcare requirements and cater to your internal processes.
As such a platform is built from scratch, it gives you the freedom of choice for technology. Additionally, you can easily integrate this platform with third-party systems because you get to control the code entirely. Also, you will have full ownership of the final product and customize the software according to any relevant changes in your organization.
Benefits of a custom patient engagement platform
- High scalability
- Seamless integration to your existing infrastructure
- Enables integration with any new services you are willing to include in your medical practice
- Freedom to choose the technology
- Gain full ownership of the resulting solution
Custom patient engagement platform is best suited for medical practices that:
- Offer a wide range of services
- Plan to expand in size and services
- Have rigid workflows that are difficult to adapt
- Want to integrate the new solution with the existing system
Develop your custom patient engagement platform with Fingent
At Fingent, we have the expertise and work closely with you to build a custom patient engagement platform to suit your business needs. Our experts help you select the best web development frameworks, database and backend technologies, data visualization formats, and leading front-end technologies to develop your patient engagement platform or any medical software that you would require.
Fingent helps you develop healthcare application platforms tailored to your needs, with top features like appointment scheduling, medical billing, patient feedback management, payment processing, chatbot, and fundamental to in-depth analytics. To know more, please get in touch with us.
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How does legacy cloud migration ensure business continuity in FinTech? Explore in this article.
Did everyone have Business Continuity Plans in place and protocols to follow during the pandemic? Yes, definitely. Did anyone expect a disaster of magnitude like this? Not in their wildest dreams or gloomiest forecasts! The pandemic forced hundreds of millions of employees to shelter in place, essentially moving all operations online. Not all organizations were equipped with the needed technological tools, and most businesses were caught off-guard. FinTech companies were not immune to the aftermath.
For example, pre-COVID-19, it is true that a few FinTech organizations began migrating to Cloud. But, conversely, there were many who hesitated to embrace the cloud migration strategy because of legitimate concerns over critical factors such as rising costs, managing complex business data and workloads, re-training existing IT staff, and more.
The pandemic was a wake-up call that helped businesses identify legacy cloud migration as a relevant and vital choice. Though most companies have realized that modernizing old, outdated business applications can boost productivity and increase efficiency; some are still hesitant about their cloud migration strategy.
This blog explains why FinTech organizations must consider legacy cloud migration seriously and what are some specific benefits of cloud migration strategy.
What is legacy cloud migration?
Legacy cloud migration involves moving on-premise applications, outdated software, or programs that a company has relied upon for years. These applications may include everything from sales or CRM applications to industry-specific applications. Some FinTech organizations may be reluctant to migrate to cloud just because legacy cloud migration is a daunting project. However, maintaining a status quo can be detrimental to your business growth.
Legacy cloud migration is the only light at the end of the tunnel
The pandemic has triggered a significant reexamination of FinTech businesses and their IT priorities. Gartner predicts that “by 2022 cloud shift across key enterprises IT markets will increase to 28%.” This era of economic uncertainty caused by the pandemic affected all businesses, especially, FinTech organizations. A report from Yellowbrick showed that 84.3% say cloud computing is more important than workplace disruption.
Thankfully, cloud migration strategy was available when it was most needed – a phase when maintaining business continuity has become a priority. Consider the most important reasons for legacy cloud migration.
Why FinTech Companies Should Embrace Legacy Cloud Migration
1. People matter more than premises
As the pandemic hit the world with one wave after another with no time to catch a breath, there was a dire need for remote self-service technology. The massive role played by people working from home is a clear indication that people matter more than premises. A year ago, cloud migration strategy was considered discretionary. Today, work from home has made cloud migration mandatory.
Hence, now is the time for FinTech organizations to plan for their business continuity to remain adept for future upheavals, disruptions, or even disasters. When your organization migrates to cloud, you ensure your teams’ effectiveness while working remotely.
2. Prepare for the next
Though the pandemic is wreaking havoc, it will recede in due time. However, what remains is a possibility of a similar recurrence of disruption in the future. Hence, FinTech organizations must prepare for future disruption by recognizing that the calamity to come may not be another pandemic but its functional equivalent. Legacy cloud migration will equip you to face any future disruptions and remain resilient.
3. Facilitate real-time payments
Banks are well aware of the advantages of real-time payments. The race is on for upgrades and integrations that allow organizations to leverage real-time payments. A survey of over 500 executives indicated that 71.9% are ‘extremely interested’ in such payment capabilities. Above all, cloud brings in scalability and agility to real-time payments. Cloud migration strategy can improve the speed and consistency of transactions. Besides, it can enable fast and frictionless transactions.
Legacy cloud migration allows banks to adopt digital payments. Banks can address many of their traditional payment pain points, such as spikes in demand.
Collaborating between payment players and cloud service providers can help your organization provide a more secure digital experience for your customers. This is of paramount importance in a world where contactless interaction is the key. According to a McKinsey survey, banks that adopt digital transformation were able to increase customer satisfaction by 15-20%, reduce cost by 20-40%, and boost conversion rates and growth by 20%.
While consumer expectations and payment preferences continue to evolve rapidly, cloud migration strategy will help FinTech industries to stay relevant and continue to grow.
4. Scalability and flexibility for an uncertain future
FinTech firms need an infrastructure that can grow with them and protect their business from future disruptions. Migrating to a cloud platform equips FinTech firms to adapt to branch closures while extending banking services to as many people as possible. Legacy cloud migration provides the agility to scale with speed while saving on on-premise infrastructure that is comparatively expensive to maintain and upgrade. Moreover, it can provide your organization the needed accessibility, flexibility, and scalability during economic downturns.
5. Manage risks and compliance
Efficiency, automation, and cloud-based delivery will be critical for compliance operations. It is vital to use next-generation technology and emerging digital approaches to optimize risk modeling. Since legacy cloud migration is agile, flexible, and low cost, it can solve many challenges in operational risk and financial crime compliance activities. Additionally, solutions deployed in the cloud can assist with operational challenges.
6. Data management
Acquiring large quantities of accurate data is a top priority for all FinTech firms. Their success depends on all the information they must collect, from onboarding to analyzing their spending habits. Cloud migration strategy enables your firm to gather and store data securely while allowing your designated employees to access it from anywhere when required.
The FinTech industry is at a crossroads now. How it responds to the current crisis will determine its future. The key to the survival of FinTech companies will be the rapid digitization of their business and the adoption of cloud migration strategy. Migrating to the cloud is as important as the historic move from typewriter to computer. Cloud migration has become a global force for business growth. It can reduce overhead costs and help your team focus on increasing productivity and performance.
Cloud migration strategy will become inevitable as the FinTech industry builds a more accessible financial world. By partnering with a cloud migration services provider like Fingent, you will be able to quickly and seamlessly migrate to the cloud without disrupting your business. We also help you build FinTech applications and platforms leveraging the latest technology in the market. So, give us a call, and let’s get talking.
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The Role of Chatbots in Boosting Brand Loyalty and Experience
As social messaging apps are gaining popularity, AI-powered chatbots are one of the best ways to reach out to a broader audience. Soon, several businesses across various verticals will implement AI chatbots that will help them carry out multiple tasks, including customer service and marketing activities.
According to Gartner, by 2021, over 50% of companies will spend more on developing chatbots (intelligent conversational assistants) against traditional mobile app development.
A chatbot is an AI-based program that communicates with humans through text messages or chats. It is a virtual assistant integrated into mobile applications, websites, or instant messengers and enables better engagement with your customers.
Two common types of chatbot
There are two types of chatbots a business can use: Transactional Chatbot and Conversational chatbot.
- Transactional Chatbot is pre-designed to provide a customer with a fixed set of choices. The customer can select an appropriate option, and the chatbot will then assist them through the whole process by providing more choices till their problem is solved. A transactional chatbot is an excellent choice for banks, online food delivery, restaurants, or businesses that are able to understand and pre-define the solutions/ products that their customers generally seek.
- Conversational Chatbot is designed to understand and respond to a conversation in a more human-like manner. It is equipped with artificial intelligence and has access to knowledge databases and other contextual information.
A conversational chatbot is more suited for businesses with advanced SaaS tools and B2B companies providing enterprise solutions and online social platforms.
Five leading chatbot use cases in vogue today
1. Healthcare chatbots
Hospitals, clinics, and patient treatment centers leverage chatbots for booking appointments, sending medical information to refill prescriptions, answering common questions raised by patients or their attenders, checking physicians’ availability, and so on. According to Crunchbase, VCs have invested over 800 million dollars in at least 14 known start-ups like Safedrugbot, Sensely, Cancer Chatbot, and others to own a version of a chatbot with health features. The most significant advantage is that chatbots function silently 24/7 without disrupting anyone and answering questions at any time of the day.
Browsing through the website of a multispecialty hospital and sifting through the different specialties and doctors can be daunting. Chatbots reduce this strain and help patients book an appointment quickly based on their ailment or health condition. When a patient interacts with the chatbot, it will ask a series of questions to determine which doctor and department the patient should visit.
Example of a healthcare chatbot
Healthily is an AI-driven chatbot that allows you to input your symptoms and get an appropriate diagnosis. Its machine learning model allows the app to give near accurate or even accurate diagnoses.
Chatbots like Healthily prevent patients from waiting in long queues or relying on phone calls to consult doctors. With the ongoing pandemic, chatbots are making patients feel less anxious about seeking medical care. Chatbots help them get assistance in real-time.
2. HR chatbots
As the traditional office spaces give way to modern workspaces that are mobile, digital, or home, HR (PeopleOps) professionals face the increasing pressure to streamline communications and send instant responses to employees. Chatbots powered by AI free people from low value, tedious, repetitive, and transactional tasks to more high-value, strategic, engaging, and creative work. The inherent value extends to providing consistency and coherence to employee communication and reducing confusion for the end-user while delivering an instant response. HRs get more time to rethink the way they engage with employees and manage their entire cycle of work, including recruitment, onboarding, managing payroll and benefits, training and skills development, performance management, and so on.
Example of an HR chatbot
AskHR is an AI-powered HR chatbot that enables employees to get answers to the most frequently asked questions. AskHR bot natively supports 50+ languages and is hence a globally popular virtual assistant. It offers voice, email, and text support to employees and helps reduce costs, enhances employee engagement, and offers analytics to derive valuable insights.
MUSA, Fingent’s AI virtual assistant
Multi Utility Assistant or MUSA is an AI-powered virtual assistant (a chatbot) integrated with Fingent Hub – Fingent’s internal employee management system. MUSA enables employees to get answers to common queries related to HR and IT DevOps processes at Fingent.
The virtual assistant helps our employees with questions related to their leaves, company policy, hardware or software issues, IT requests, and many more.
3. E-commerce chatbots
E-commerce chatbots guide customers in their purchase decisions.
Often, customers can get confused while browsing several products online. An E-commerce chatbot helps customers obtain detailed information about the product they are looking for or even helps them land on the right product page. Chatbots also help reduce cart abandonment as they can remind customers about the items left in their cart and prompt them to update their cart or purchase the items. Timely reminders and notifications will nudge the customers to revisit their carts and make a purchase decision, thereby helping businesses generate revenue quickly.
Example of an E-commerce chatbot
While launching its AirMax Day shoes, Nike increased its average CTR by 12.5 times and the conversions four times with the help of StyleBot- Nike’s chatbot.
Chatbots play an essential role in providing more reliable and quicker customer support and keeping the customers up-to-date about the delivery status of their purchases.
4. Chatbots in banking and finance
Chatbots are a great addition to any bank or finance institute that prioritizes customer service inclined towards digital interactions.
Chatbots can help users check their account balance, transfer money to other accounts, view the history of transactions, or even locate the closest ATM. In addition, banks are currently using chatbots for marketing activities such as sending customized information about a customer’s savings, investments, etc., and notifying customers about their new products and services.
Example of a BFSI chatbot
In 2018, Bank of America introduced Erica, their AI Chatbot. It helps customers conduct simple actions such as paying bills, receiving credit report updates, view e-statements, and seek financial advice. Recently, Erica’s capabilities have been updated to enable clients to make smarter financial decisions by providing them with personalized insights. Thanks to its budgeting capabilities, Erica users grew to 12.2 million in Q1 2020 compared to 10.3 million in Q4 2019.
5. Hospitality chatbots
The hospitality industry is hugely dependent on customer service, goodwill, reviews, and references. As travelers use multiple channels (website, social media, mobile travel apps, travel aggregator portals, etc.) to look for information, travel and hospitality service providers face stiff competition in disseminating updated content across all media. They need to be available round-the-clock in answering customers or helping with bookings. Chatbots help customers make bookings, gain more information about hotel services, travel packages, and inquire about offers and deals. From check-in to several concierge services such as booking restaurants to activity reservations, chatbots can seamlessly assist customers.
Example of a hospitality chatbot
Quicktext is a popular AI-powered chatbot for hotels that automatically handles 85% of guests in 24 languages and delivers instant response to customer requests across six different channels. In addition, it serves as a messaging hub where hospitality businesses can centrally manage Live Chat, WhatsApp, Facebook Messenger, WeChat, SMS, and Booking.com communications.
How can chatbots help your business?
With the rise of emerging technologies such as artificial intelligence and wearable technology, chatbots provide industries with new avenues for businesses to engage with their customers.
1. Leverage messaging platforms
While social media engages audiences, messaging platforms enable businesses to have a one-on-one conversation with their customers. So, by integrating chatbots with your messaging platform, you could eliminate the need to build a new app and save time and money.
2. Customer service
Chatbots are a great way to augment customer service. The bots are available 24x7x365, which allows them to initiate the conversation proactively and prevent customers from waiting for long.
3. Customer engagement
Intelligent chatbots allow you to have more in-depth conversations at an individual level with your audiences, freeing them of any irrelevant information. So, a well-designed chatbot can extend the conversation and make the visitor come back for a discussion or a purchase. This can go a long way in establishing your brand loyalty.
4. Cost optimization
Getting a chatbot for your business is far cheaper and faster than developing a cross-function app or hiring additional employees. Chatbots do not need breaks, get tired, or make errors. Also, they can perform repetitive tasks without complaining.
Develop a custom chatbot for your business application
Chatbots are being widely used across different business functions and are augmenting customer experience. With advances in technology, bots will only get more competent and open new avenues to streamline customer communications.
We build bespoke and personalized chatbots leveraging AI and machine learning that enable your business to generate leads, increase revenue, and enhance user experience. If you are planning to develop a customized chatbot that can compete with the predefined bots in the market, contact us.
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A Comparison of Top 5 NLP Platforms: Select Your Chatbot Development Platform Wisely
The surge of artificial intelligence-based applications and conversational AI have heightened the use of NLP (Natural Language Processing). Each day, businesses collect an enormous amount of structured and unstructured data from their customers and users. Such information is collected through chatbots, intelligent assistants, and so on. Analyzing these data offers businesses insights into crucial operations and enhances their decision-making. However, manually inferring insights from tons of data is a challenging endeavor. This is where NLP platforms plays a vital role. This article will help you evaluate five different NLP platforms you can consider while developing a chatbot for your business support functions.
How Does NLP Platforms Help Businesses
Gartner and IDC report that more than 80% of the enterprise data generated today is unstructured. Natural Language Processing (NLP) technology helps us derive meaning from the vast labyrinth of online data. NLP refers to applying several computational techniques that enable us to do analysis and synthesis of natural language and speech. According to a report by Intrado GlobeNewswire, the NLP market is expected to be work USD 42.04 billion by 2026.
Chatbots are software applications that help us conduct conversations online via text or text-to-speech instead of directly communicating with a human agent.
Chatbots provide a better service experience to customers by responding to customer queries promptly, accurately, and most importantly, like humans. AI-powered chatbots can be trained to learn from data to respond in different and diverse scenarios.
However, picking the right chatbot platform can be a gigantic task. Here’s an analysis of five NLP platforms. Choose your chatbot development platform wisely.
1. IBM Watson Assistant
A pioneer in the chatbot market, IBM’s Watson Assistant has evolved into a holistic customer care product. As the pandemic weighed heavily on businesses, customers and employee services were challenged in unimaginable ways. IBM Watson Assistant is designed to solve customer and employee challenges, so its relevance became even more significant during this time. Using IBM Watson Assistant to create your chatbot helps in the following ways:
First contact resolution
Resolving questions quickly and successfully is one of the biggest priorities of Watson Assistant. One of the critical challenges of first contact is user engagement. If that is your concern, here is how Watson contact can help:
- Allows integration with the phone, SMS, and WhatsApp: As it can integrate with phone and SMS, you can deploy speech services with natural sounding voices created with the help of advanced AI.
- Best intent recognition accuracy: Watson Assistant helps you understand your customers’ questions without always requesting them to rephrase the question.
Watson Assistant is designed as an open ecosystem. It, therefore, allows you to connect with your existing tools, systems, and applications. Besides, it gives you the ability to orchestrate the end-to-end experience.
Scale your assistant to increase complex use cases
Watson Assistant allows you to scale your virtual assistant beyond simplistic FAQ bots. It can be customized easily to fit the specific needs of your business.
Use cases: Companies such as Botanalytics, Ebix, and SnapEngage use Watson Assistant.
2. Amazon Lex
Amazon Lex allows you to create and embed engaging chatbots into your applications, shielding you from the complexities of NLU (Natural Language Understanding) and speech recognition. Here are some of the top features of Amazon Lex.
The capabilities of Amazon Lex are simple and easy to use, allowing you to scale up from ground zero to a fully operational chatbot within a matter of minutes. Using a combination of aliases and versioning, you can roll out your conversational interfaces into multiple environments.
Amazon Lex has no upfront costs. You can pay-as-you-go.
Fully managed service
It provides all the necessary features to build, deploy, scale, and monitor your chatbot.
Business use cases
- Commerce chatbot: Allows you to order food
- Support chatbot: Provides automated customer support
- Enterprise chatbot: This allows you to connect to enterprise data resources
- Use cases of Companies: Lumeneo.com, Paralect, and CommonBond use Amazon Lex.
Rasa platform is an open-source framework. It is leading in ML toolkits that help developers create better chatbots with minimal training data. The two major components of the Rasa stack are Rasa NLU and Rasa Core. Rasa core helps create intelligent, conversational chatbots.
It is best for businesses that are looking to increase subscriber engagement and for those who are interested in marketing automation and personalization.
The benefits of Rasa are:
- You can deploy into your own server by keeping the components in-house
- Highly customizable
- Allows for multiple environments necessary for development, staging, and production
- It helps you send individualized newsletters to each of your subscribers
- It continues to self-learn when it interacts with people
- It allows you to understand your customers better
- It can be integrated with Facebook Messenger, Twilio, Telegram, and more
Spacy is an open-source NLP library that is designed for production usage. It helps you build real-world projects and handle large amounts of text data. It is a one-stop operation for most heavy-hitting functions for NLP.
It is best for companies that are bootstrapping a vast production or for vendors in charge of enterprise solutions. It has proven highly useful for companies that require industry-level solutions and need enhanced language support.
Some of the benefits of SpaCy are:
- It easily allows deep data mining
- It does not weigh down the user with obscure formulas
- It can analyze text quicker than its competitors
- Enables businesses to implement strategies to interact with customers and leads
- It is capable of working with over twenty languages
- Allows you to handle NLP solutions across an international suite of languages.
- It is a powerhouse for every deep learning algorithm with the tools you need to teach your programs human language.
5. Microsoft Azure
Microsoft Azure bot service helps you develop, deploy and host a chatbot in an uncomplicated manner. It is a managed bot-building platform with an integrated environment. It is purpose-built for bot development.
Microsoft Azure bot services are best for enterprises and IT companies.
- It helps run FQAs speedily and consistently reducing customer management issues
- Easy to integrate with various Azure services
- You can build, connect, test, deploy and manage intelligent bots from one place
- Easy to integrate with other chatbot software such as Jabber or Skype
Why choose Fingent as your chatbot development partner?
Acquire estimates that nearly 1.4 billion people are willing to talk to chatbots. Did you know that chatbots can handle 80% of routine customer questions? These figures prove that the chatbot platform is the present and future of your business.
However, it is important to choose a chatbot development partner carefully. We at Fingent ensure your chatbot platform is easy-to-use even for non-tech employees. A customized and fine-tuned chatbot frees people up from low value, boring, repetitive, and transactional tasks. It enables your employees to focus on high-value, strategic, engaging, and creative work. The business value also lies in that the chatbot provides consistency and coherence to your communication, reduces/ eliminates confusion for the end-user while giving an instant response. It helps your employees get things done fast as they need not worry about the low value, boring, repetitive, and transactional tasks. Thanks to chatbot development!
We will work with you through all the stages, from requirements identification, technology selection to planning and implementation. We will continue to support you in managing the chatbot after deployment. While you zero down on the chatbot platform, choosing the right partner to help you develop the chatbot according to your specific requirements is essential. Give us a call, and let us get talking.
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How Cloud ERP and ERP Systems Support The Manufacturing Industry?
The manufacturing industry has always been highly dynamic and competitive. However, the COVID-19 pandemic and the extension of lockdown restrictions weigh down on manufacturing companies across the globe, causing many to lose momentum. At the same time, customers who are always on-marketplace are expecting high-quality, individualized products delivered within shorter timeframes. To meet these requirements, manufacturers must synchronize their demand chain with the supply chain. The appeal of ERP systems (enterprise resource planning systems) for manufacturing in this scenario is evident. Here’s everything you need to know about ERP systems for manufacturing.
What is the importance of ERP systems for manufacturing?
ERP systems for manufacturing enable manufacturers to compile and maintain their business in an easy-to-scale model. According to G2 (a leading tech marketplace), 47% of ERP users belong to the manufacturing sector, and nearly 50% of companies are keen on acquiring or upgrading their ERP systems.
Fortune Business Insights reports that the global ERP software market size is estimated to reach USD 71.63 billion by 2026, at a CAGR of 8.5% during the forecast period (2019-2026). ERP systems for manufacturing encompass every function and streamline every business operation.
Though automation is not a new concept, the convergence of the digital world with the physical world has transformed the supply chain. In manufacturing, AI can be used to increase uptime and ensure consistent quality. AI and analytics aid in better forecasting, which in turn means better business and better returns.
Here are six reasons that emphasize the importance of ERP systems for manufacturing.
1. Reduces forecast anxiety
Most businesses worry about the next quarter. ERP systems for manufacturing help generate forecasts and sales reports based on historical transactions. This increases the accuracy and dependability of production and keeps stock levels in line with the increase and decrease in demand.
ERP systems can combine data, statistical algorithms, and predictive analytics to help businesses identify future outcomes based on the past. Predictive analytics can help you determine customer responses, forecast inventory, and even detect fraud. Improved supply chain visibility will help you set the level of preparedness required on the supply side to match demand. It can help you anticipate customer demand and stock goods to fulfill the orders.
2. Increased mobility and employee efficiency
With the lockdown measures tightening, working from home can be challenging for businesses. When the pandemic threw a curveball at companies, ERP systems for manufacturing have handed them a new strategy by enabling employees to work remotely and access all the relevant information they need from a single portal. They can access data through their laptops and computers and even from their phones and tablets, no matter where they are.
As each wave of the pandemic takes the world by surprise, manufacturing industries must ensure they are flexible to respond quickly to changing market trends. Such flexibility enables a business to be collaborative in meeting demands and promoting increased revenue and efficiency.
4. Increased profitability
Are you focusing on increased revenue in the next few months? As you are already aware, getting more work done at a lower cost automatically improves profits and encourages growth. ERP enables manufacturers to be alert to changes and react quickly to variations in raw material costs and delivery timeframes.
Cloud-based databases enable business leaders to process information quickly and equip them to make high-quality decisions rapidly. ERP systems for manufacturing increase organizational efficiency, eliminate unprofitable areas and cut down on waste. Moreover, ERP software dramatically reduces control and inventory management expenses.
5. Enhanced security
Advancement in technology has made data available at our fingertips. Unfortunately, it has also made it readily available for hackers and criminals. The significance of data privacy and confidentiality has prompted most countries to have data protection laws in place, and compliance with those laws is non-negotiable. ERP systems for manufacturing have various features that enable your business to protect personal information. ERP system allows you to code your data and secure it by restricting the data through identity and access management.
6. Customer service
Every business must be concerned about customer acquisition and retention. ERP systems for manufacturing allow you to centralize and streamline your client information. This will help your sales team focus on building and maintaining customer relationships. End-to-end tracking and insights offered by ERP will help you provide better customer interaction. Since ERP supports e-commerce integration, businesses can handle web-based order processing and client interactions.
Cloud ERP for manufacturing
Fear of misstep may prevent businesses from moving to the cloud, but outcomes prove that cloud-driven ERP is far more beneficial when compared to manual methods. Here are some benefits of cloud ERP:
- As each department has its own requirement, a customized ERP solution caters to operational and departmental needs.
- Cloud ERP allows your employees to access their data on the go. This aspect has been very crucial given the unprecedented circumstances brought in by the pandemic.
- Real-time data and reporting help in determining the future of your business and accelerates your decision-making process.
Tried and tested ERP systems for manufacturing in 2021
Functionalities of ERP systems for manufacturing help organizations minimize production lead times and increase automation. Here are three tried and tested top ERP systems for 2021:
1. Odoo ERP system
Odoo manufacturing ERP software allows you to handle complex production workflows, product planning, order and inventory management, schedule management, warehouse management, bills of materials, purchase, PLM, maintenance, and quality.
Odoo ERP for manufacturing allows you to:
- Create a manufacturing order
- Configure work center
- Configure routing
- Configure bill of material
- Create scrap
- Product life cycle management
- Preventive and corrective maintenance management
As an Official Partner of Odoo, Fingent is primed to provide the best Odoo ERP consulting, implementation, and maintenance services for your business.
Read more: Why Choose Fingent as Your Odoo ERP Partner
2. SAP ERP system
SAP manufacturing software and Industrial Internet of Things (IIoT) solutions enable manufacturing companies to accelerate time to market, gain new production efficiencies and lower costs.
SAP offers a wide range of software solutions for manufacturing companies, such as SAP S/4HANA Manufacturing solutions, SAP Manufacturing Execution, SAP Manufacturing Integration and Intelligence, SAP Digital Manufacturing Cloud, SAP Environment, Health and Safety Management, and so on.
SAP ERP system helps in two specific categories:
Manage inventory and bills of material:
- Handle bills of material and multi-level bills of materials
- Record, track and produce serial numbers for incoming and outgoing products
- Manage multiple units of measure
Manage the production process:
- Generate both assembly and disassembly work order
- Maintain records
- Generate finished goods.
Read more: https://testingweb.fingent.net/sap-erp-central-component-sap-ecc/
SAP ERP software offers digital manufacturing solutions to meet the demands in a challenging market. SAP’s solutions for the manufacturing industry include Digital Manufacturing Cloud solutions, Manufacturing Execution System (MES), Production planning & scheduling, and IIoT. Being an SAP Silver Partner, we help businesses leverage the full potential of their SAP ERP software.
3. MS Dynamics ERP system
Microsoft Dynamics 365 ERP system offers a holistic package of solutions for manufacturing companies that include ERP, CRM, BI, Analytics, and a horde of top-notch applications. You can easily manage your assets, supply chain operations, production and purchase orders, supply chain planning, bills of materials, and a wide variety of applications that enhance your business performance from the shop floor to the last-mile delivery.
Tools of MS dynamics can help you:
- Control financial management
- Deliver better customer service
- Collaborate across your virtual organization
Over to you
Manufacturing is the economy’s backbone. ERP is an excellent tool that gathers all information from every corner of the business and translates it into financial data and other valuable insights that help companies make strategic decisions in 2021. The potential of totally streamlined business functions makes the benefits of implementing ERP systems for manufacturing a worthwhile investment.
Over the past 17 years, we have been helping businesses solve challenges through technology. Unlock your business value with custom ERP solutions or ERP implementation, migration, upgrade and support. Give us a call!
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How is AI Facilitating Healthcare Innovation Over Years
Today Artificial Intelligence (AI) is being used to enhance and improve all spheres of our lives. Artificial Intelligence in medicine is truly life-altering. The technology is used to solve complex healthcare challenges today. AI in medicine helps interpret the data obtained by diagnosing several chronic diseases such as diabetes, cardiovascular diseases, Alzheimer’s, and cancer. Automated systems, tools, and algorithms allow healthcare professionals to minimize errors and control disease progression.
Artificial Intelligence in medicine has considerably advanced two fields: diagnosis and clinical decision-making. The implementation of AI in medicine enables physicians to minimize intra-observer variability and inter-observer variability. It facilitates the interpretation of diagnostic results with high accuracy and speed.
A real-life example: Chest X-rays are among the most common imaging modalities read and interpreted by radiologists in hospitals today. Despite their widespread use, the modalities are difficult to interpret due to their low resolution. The AI models developed by IBM Research Center in California can read X-rays, and their performance is at par with the resident radiologists.
This blog explains how Artificial Intelligence in medicine has been transforming healthcare in the past and present and how it can benefit us in the future.
How AI has transformed healthcare in the past
In the past, Artificial Intelligence focused primarily on the development of computerized machines that were capable of making inferences or decisions that only humans can make. In 1966, Shakey- “the first electronic person” was developed. It was a mobile robot capable of interpreting instructions. Unfortunately, reduced funding and lack of interest pushed Artificial Intelligence in the medical industry into a phase popularly referred to as “AI winter.” Thankfully, that was not the end.
How is AI transforming the present
Artificial Intelligence in medicine has crossed numerous milestones after the bleak “AI winter.” The present generation has witnessed a paradigm shift across patient treatment, clinical diagnosis, and decision-making. Armed with large amounts of data, doctors are now more capable of providing effective treatment to their patients. AI has revamped analytic methods and changed clinical decision-making techniques.
Read more: 7 Major Impacts of Technology in Healthcare
Increased data volumes enable decision-makers to gain unparalleled insights in all stages of treatment, such as diagnosis, treatment variability, care process, and patient outcomes. According to an analysis by Accenture, Artificial Intelligence in medicine can save 150 billion dollars for the US economy by 2026!
Here’s how AI is transforming medicine and improving patient outcomes.
1. Electronic health records
A CDC survey revealed that nearly 75% of healthcare providers trusted their EHR to improve patient care. AI can make the existing EHR system more intelligent and flexible. AI can improve data discovery and personalize treatment recommendations.
When used with virtual medical assistants, a practitioner can retrieve information from EHRs without becoming a victim of clinical burnout. Thus, AI in EHR can improve both clinical outcomes and clinicians’ quality of life.
2. Medical imaging diagnostics
Medical imaging developers have discovered numerous ways to use Artificial Intelligence in medicine to detect and diagnose a wide range of diseases. These developments range from automating workflows to improving processing speed.
While AI imaging may seem expensive, it saves a vast amount of capital spent on invasive disease treatment and prolonged hospital stays by detecting the disease at an early stage. Ai also improves the accuracy of screenings for conditions by helping doctors in early diagnosis. The advent of molecular imaging allows doctors to diagnose an ailment at the cellular level leading to accurate treatment, better patient outcomes, and decreased mortality and morbidity.
3. Virtual health assistance
Virtual health assistance enhances outcomes by cutting short hospital stays, reducing readmission rates, and improving the patient experience, especially among chronically ill patients. Combining AI with healthcare wearables helps streamline telemedicine and improve patient outcomes.
A Virtual Health Assistant is developed to manage chronic diseases. It collects information about a patient every time he/she visits a doctor. It can be programmed to perform health screenings and send the results to the doctor. Each healthcare facility may choose to have a tailored virtual health strategy. This will help integrate appropriate healthcare platforms and technologies into the delivery model.
4. Proactive medical care
Conventional medical treatment involved treating the patient after detecting the disease. This was called ‘reactive medical care.’ Thankfully, AI brought in a significant shift turning reactive medical care into ‘proactive medical care.’ AI-enabled proactive medical care includes studying patients’ medical history to locate high-risk markets for various diseases. Then they are monitored for any changes. Once an alarming change is detected, the application suggests medical intervention.
These apps encourage the patient to be an active participant in their personal healthcare. These can be extremely helpful or even life-saving in conditions such as palliative care, congenital heart disease, and diabetes management. Such proactive medical care enables the patient to take care of oneself’s daily routine, including emergencies.
Future of AI in medical industry
The journey of Artificial Intelligence in the medical industry has just begun. It has significantly changed patient experience, clinicians’ practice, and pharmaceuticals. AI has found its way from our smartwatches to the supply chain. The future of AI in medicine includes everything from answering the phone to therapeutic drug and device design, making clinical diagnoses and treatment plans, and even conversing with patients. Here are two examples:
1. Drug discovery
AI solutions for the medical industry can identify new potential therapies from vast information available on existing medicines. These will help healthcare providers in redesigning treatments that target new threats such as the Coronavirus. AI can improve the efficiency and success rate of drug development. It can also accelerate the process in response to deadly disease threats.
A report by PwC states that the healthcare and pharma sectors are experiencing 67% improvement in clinical trials and drug discovery with the help of AI.
Listed below are a few examples of how AI handholds frontline workers in the battle against Coronavirus pandemic:
- AI-enabled contactless and wireless thermal scanning devices designed to collect and store precise temperature data of individuals. Care providers can integrate this data into healthcare platforms for further analysis.
- AI-based computer vision programs that can be integrated into drones and CCTV cameras installed in public places to monitor the adherence of the public to COVID safety protocols. It can send real-time alerts to police and public health departments in case of safety violations.
- AI-based robots that help physicians and healthcare workers with patient screening to avoid the risk of virus exposure. It can also enable video conversations with medical experts to procure prescriptions.
- Customized AI applications that help predict COVID-19 symptoms through sample screening. AI also helps in predicting COVID risk scores.
2. Primary care
Multiple organizations are working on ‘direct to patient solutions’ offering advice through voice or chat-based interaction. This can enable patients to receive quick, scalable access for their medical issues minimizing unnecessary trips to the healthcare facility. Healthcare providers should use AI-based direct-to-patient solutions to provide essential guidance for patients in remote geographies of the world.
Artificial Intelligence is revolutionizing the medical industry
Artificial intelligence in medicine is changing the role of doctors and medical professionals. It is also helping patients improve personal health management. AI is here to grow and transform numerous aspects like diagnosis, decision-making, treatment plan, drug development, etc. AI can play a leading role in how the future medical industry operates, ensuring optimal patient outcomes.
Fingent keeps a close eye on the happenings in the medical industry and has developed the necessary capabilities to enable a connected healthcare ecosystem for our clients by developing advanced, end-to-end digital solutions.
Give us a call, and let’s discuss your digital needs.
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How Logistics Management Software and Technology Will Transform Businesses in 2021
Without logistics software management, Pfizer cannot become one of the world’s largest sterile injectables suppliers in 2021. Neither can they store, transport, and distribute the COVID-19 vaccine to multiple countries, maintaining ultra-low temperatures. Monitoring temperatures, optimizing delivery routes, managing cold storage, tracking vaccines in transit, overseeing distribution – all these prove that the logistics and supply chain sector has been at the forefront of tech disruption in 2021. Various governments are taking measures to expedite vaccine distribution to the masses; shoppers have increasingly moved to online shopping – 2021 is set to witness the increasing adoption of logistics management software.
The Impact of Technology in Logistics
Technology continues to disrupt logistics and supply chain processes by changing it altogether from its core. Research and Markets reports that the increasing use of IoT and emerging technologies across industries will accelerate Connected Logistics’s adoption. The Global Connected Logistics market is projected to grow at a CAGR of 17.5% during 2021 – 2026.
Consequently, logistics will become more refined and fast, changing the way materials, goods, freight, sales orders, inventory, and production are managed.
As efficiency and speed become the determining factors, logistics need to adopt a new approach to deal with the rising demand and complexity of processes. The industry needs a viable solution that manages the flow of things so that the right product reaches the customer within the specified time.
Logistics software adoption streamlines operations and removes process hassles. Organizations that invested in logistics management software have produced good outcomes with noticeable improvements in process, operations, and delivery.
This article attempts to explain all that you need to know about logistics management software, including:
- What is Logistics Management Software?
- Challenges in logistics management
- Pros of a having a logistics software
- 2021 trends that reshape logistics management
- Choosing the right Logistics Management Software
- Checklist of essentials in a Logistics Management Software
- How logistics software improves efficiency
- The future of supply chain
What is Logistics Management?
Logistics involves the flow of things from their point of origin to the point of consumption, usually general customers or businesses. The selection of vendors, transportation means, routes, and delivery methods constitute an essential part of logistical operations.
Logistics management is a part of the supply chain that uses planning and implementation to store and deliver goods and services to the customer. It coordinates several critical activities of the supply chain that range from product development to commercialization.
Typically a logistics management system includes the following:
- Inbound and outbound transportation management
- Warehouse management
- Fleet management
- Processing orders
- Inventory control
- Managing third-party logistics service providers
- Planning supply and demand
Watch Video: Top Challenges Faced by Logistic Management
Logistics management constitutes several functions such as production planning, sourcing, procurement, packaging, and dispatching. It also involves finding the suitable means to deliver goods and services to the end-user. Inbound and outbound traffic is vital in logistics management.
- Inbound logistics is a linear flow of raw materials from suppliers into a warehouse and then a production unit.
- Shifting the products from the warehouse inventory into the hands of the customers falls under outbound logistics.
An example of inbound and outbound logistics at play is that of a manufacturer of electronic goods, which requires several raw materials in the form of components, nuts, bolts, cables, casting, packaging cartons, etc., to build products.
Challenges in Logistics Management
Logistics is prone to several issues that occur primarily due to simple human errors or other factors. Weak decisions usually result in delays in the transport or delivery of goods, leading to customer dissatisfaction. Besides, another challenge that logistics face generally is in the safe transportation of goods. The goods can become damaged or faulty if not handled accordingly while in transit.
Customer demand has also become higher as they want more transparency in the delivery process. Moreover, logistics and supply chains are facing the still unsolved issue of cost control. The rise of fuel charges combined with a steep increase in energy, freight, and labor rates put further pressure on logistics providers.
Effective risk management and managing the relationship between the suppliers and partners are also vital. A reliable solution that covers all these individual challenges in logistics is thus becoming a necessity. The use of logistics management software (LMS) can streamline logistical operations and guide a logistics provider or business to deal with them appropriately.
What is Logistics Management Software?
Logistics Management Software (LMS) simplifies logistics operations by refining the production cycle and making it easier to access important information quickly. A logistics management software helps businesses manage the various processes that go into the production cycle from the delivery of raw materials to shipping the finished products to the consumers.
Logistics software has become broader in its scope and functionality to deal with a vast array of operations and processes. It shares similarities with supply chain management software (SCMS), which contains tools that help deal with transactions, processes, and suppliers. The functionality of a logistics management software extends to areas such as:
- Processing customer requests
- Processing purchase orders
- Inventory Management
- Suppliers Management
- Sales and Distribution
A logistics management software gets rid of all the conventional approaches like paperwork and spreadsheets to simplify management. It comes in three variations: warehouse management systems, enterprise resource planning systems, and integrated supply chain management suites.
Companies with an in-house logistics or supply chain division and third-party logistics providers utilize any of these different versions according to their requirements to efficiently manage their logistical and supply chain operations.
The Pros of having a Logistics Software
In logistics, handing over the process to a logistics management software has several advantages. With logistics management software, a company or 3PL (third-party logistics) provider could avail of the following benefits.
- Refine Transportation: Transportation is a crucial area of logistics. It incurs the most charges in the form of fuel, energy, labor, motorway tolls, and shipping fees. Relying on logistics software can help manage the various transportation means and leverage the operational data for process automation. Logistics management software makes it easy to analyze data and make relevant decisions for reducing costs maximizing efficiency.
- Faster Delivery: The logistics and supply chain industry faces several issues that affect delivery and lead to delays. By incorporating logistics software, businesses can rapidly deliver their products to customers. A logistics management software can improve delivery speed by making meaningful interventions in the production cycle and choosing the suitable carrier. It ultimately reduces shipping delays to a great extent.
- Minimize Human Errors: Another notable advantage of having logistics management software is in reducing human error. Manual analysis of vast quantities of transportation data is difficult, time-consuming, and prone to errors. A logistics software can process these data without any mistakes in less time, seamlessly pushing forward the operations with minimal/nil delays.
- Automates Functions: Process Automation is a tremendous boon of logistics software integration. Certain functions like creating shipment routes, load planning, and tendering of load to carriers are easily automated and managed by using logistics software. Moreover, it eliminates paperwork, which helps deal with the processes efficiently and timely.
- Reduce Costs: Logistics software can automatically compare different shipping services, delivery agents, and transportation methods to find the least pricing ones. The other way logistics software reduces costs is by lowering the expedited shipments through improved shipment planning.
2021 Trends that Reshape Logistics Management
The demand for logistics software management has peaked with the widespread popularity of e-commerce in 2021. The onset of COVID-19 is also a reason behind the peak in demand for logistics technology. As a result, logistics is constantly evolving to accommodate each industry’s rising requests that depend on it. One area where logistics has transformed is the digitization of its processes and resources. In 2021, the industry is expected to embrace the cloud, mobile, and emerging tech to transform logistics operations. Here are some of the top tech trends that will influence logistics and supply chain in 2021.
1. Artificial Intelligence
Logistics companies will use AI to identify patterns in data and churn insights. It will help advance operations such as intelligent transportation, route optimization, demand forecasting, budget planning, etc. McKinsey reports that AI-driven logistics optimization can reduce costs through real-time forecasts and behavioral coaching. The potential incremental value of AI in the logistics and transportation industry (89%) will be more than other analytics techniques.
2. Warehouse Robotics
Over the last few decades, innovative logistic robotic companies have worked hard to mesh AI and machine learning, better sensors and response capabilities, warehouse management software, or logistics management software. Recently, warehouse robotics in the supply chain has picked up pace exponentially. There has been colossal funding and investment in the industry. For example, Alibaba invested $15 billion into robotic logistics infrastructure, and Google invested $500 million into automated logistics for JD. It is also estimated that the global market for warehouse robotics in the supply chain will reach a market value of $22.4 billion by the end of 2021.
3. Cloud Computing
Cloud integrated logistics management software allows having real-time price updates, inventory, and tracking. Cloud-based logistics software enables real-time accuracy and 360-degree management of processes and systems. You can track a product through its lifecycle, right from ordering to distribution. It allows to significantly cut down the costs of lost products, missing deliveries, locate a shipment at any stage of transport, and reroute a misdirected shipment. Cloud-based logistics software allows everyone in a trade network to communicate and share data in real-time, make decisions quickly, and scale on-demand.
4. Contactless last-mile delivery
In a pandemic-troubled world, contactless delivery is more critical than ever. eCommerce companies and carriers face increasing pressure due to the surge in online shopping. It’s crucial to stay agile by ensuring business continuity. At the same time, it is also vital to remain safe and meet delivery needs. Electronic parcel lockers, contactless parcel delivery and collection, and self-service pick-up automate delivery processes to reduce physical interactions between customers and delivery agents.
Watch video: Custom Web Application Developed to Enable Smarter Locker Management
Custom logistics software applications can help fulfill the increasing demand for last-mile delivery. Fingent helps build healthy tech partnership ecosystems to ensure uninterrupted supply and distribution of your products and services.
Blockchain, also known as the distributed ledger technology, offers the ability to record transactions between parties securely and permanently. The shared and secured databases enabled by blockchain helps in avoiding intermediaries and third parties that verify, record, and coordinate transactions in a supply chain. Blockchain helps increase the traceability of the material supply chain, improve the credibility and trust of shared data, digitize physical assets like contracts and critical documents, streamline administrative processes, reduce costs, and enable effective auditing of supply chain data.
Example of blockchain application in logistics: The international logistics giant DHL uses blockchain-based serialization of pharmaceutical drugs and products to ensure that:
- the products come only from legitimate manufacturers,
- are not counterfeit, and
- are adequately tracked and traced through their journey from origin to consumption.
6. Predictive Analytics
The emergence of sensor technologies and AI has contributed heavily to the rapid growth of predictive maintenance in the logistics industry. Supply chain leaders want to utilize data effectively to optimize predictive maintenance, forecast demands, adjust inventory levels, improve cold chain transportation, and protect the integrity of the supply chain. Smart and optimized data management through predictive analytics and AI allow logistics providers to refine and transform the supply chain in 2021.
Opting for the right Logistics Management Software
With the trends shifting logistics management in a progressive direction, the need for software solutions in the field has become indispensable. Businesses, whether focussing on e-commerce or delivering services, can benefit from having logistics management software. However, the real question is finding the right kind of logistics software since the requirements vary for each business.
A checklist of essentials in a Logistics Management Software
Before settling on software for logistics management, it is vital to understand the requirements and challenges a business faces daily. Carrying out a detailed analysis can help identify deficiencies in the existing logistical operations of a business. Besides that, it can suggest measures to redeem any discovered shortcomings in the cycle.
When deciding on logistics management software, there are several essential factors to consider. Firstly, it should contain a basic set of functions that can aid in simple logistical management operations.
Besides that, numerous other things should also be present in the software to tackle the wide base of a business’s logistical operations and processes.
Some of the key features to look for in a potential LMS are:
- Compatible Multi-Client Architecture: A logistics software that comes with multi-client architecture support is necessary if a business handles multiple customers. Software with inventory and purchase orders has more emphasis since it deals with several customers simultaneously or in different phases.
- Forecasting: The ability to forecast is a needed trait in logistics and supply chain management software since it can bridge gaps in supply and demand by enhancing the business processes. Demand, supply, and price forecasting can help supply chain management with proper production scheduling, better customer satisfaction, and minimized out-of-stock scenarios.
- Finance Integration: Having tools that integrate the supply chain’s financial side is another critical software requirement. Vital financial aspects like general ledger, account payables, and receivables can help manage the bookkeeping and records of transactions conveniently when included in logistics software.
- Inventory Tracking: Having an inbuilt inventory tracking feature can make logistics management software more dependable. Logistics involves transactions of various kinds. An inventory control feature enables easier processing while ensuring that the customer gets the invoice on time.
- Customizable and Streamlined Interface: A good logistics management software should contain a streamlined interface that allows for effortless navigation across its chief functions. A customizable logistics software can easily accommodate the unique infrastructure and methods implemented by a business.
- CRM: Logistics software should also cover the customer side. A CRM embedded logistics software allows the customers to know the status of their deliveries. For both inbound and outbound logistics, CRM can answer the customers’ queries and supply them with relevant information and adjustments to the delivery.
- Bill of Lading Creation: As a critical document in the shipping and freight chain, looking for a logistics system that can generate the bill of lading is recommended. This can make it easier to create the bill of lading receipts. It facilitates the seamless exchange of goods under the consignee of the shipper and the logistics company.
Refer the chart below to get a grip on the overall profile of any software logistics management:
With logistics pushed to the forefront of business operations, leveraging the right technology can make your business compatible with the changing environment.
Outsourcing to a software development vendor will help deploy scalable software for logistics management into your entire supply chain operations. A global software solutions provider like Fingent can give you the advantage of custom logistics solutions built solely based on your requirements.
How logistics software improves efficiency
Logistics management software guarantees more efficiency and control over the logistical and supply chain operations of a business. It means simply substituting the existing manual methods with a software-centric solution. The array of features in a logistics system can refine the entire logistics cycle right from its center. For owners, vendors, and the end customers, using an LSM (Logistics Software management) model opens up improved collaboration, which is the essence of effective logistics management.
Opt for logistics software requires considering all the criteria mentioned above. For a business, it involves addressing their needs and then choosing one that wraps around their existing processes. By integrating an LMS into their operations, companies could reduce their turnaround times and streamline the overall cycle of planning and delivery while keeping up with the customers’ requirements.
Transitioning into Cloud-Based SaaS: The Future of Supply Chain
With cloud computing gaining momentum in 2021, a whole new way of processing data is unveiled. The tech innovations in 2021 have influenced the supply chain and logistics operations. Increased adoption of supply chain and logistics solutions in 2021 will lead to a shift from the on-premise model to the SaaS model.
Predictions estimate that a subscription-based SaaS model will dominate supply chain management in 2021 and beyond. Adopting a cloud-based supply chain solution offers benefits in the form of flexibility, robustness, and affordability. Free and open-source software adoption has made the Cloud the primary choice for logistics providers and organizations worldwide.
Cloud-based SaaS supply chain solutions offer numerous benefits. It gives a comprehensive outlook on the overall operations in logistics by making processes more transparent and collaborative. Implementing a cloud system reduces the upfront and operating costs. It also offers the ability to scale up with the business needs and enhances supply chain efficiency.
To sum up,
Opting for a logistics solution is one step to simplifying the entire cycle of logistical and supply chain operations. Effective management of each process from procurement to delivery requires a custom logistics management solution that can accommodate each provider’s demands. For instance, an organization lacking an in-house logistics department needs a software management tool that can wrap around their existing methodology and improve it.
By partnering with a vendor specializing in software development, businesses can deploy logistics management software tailored to their requirements. Pioneers in custom software development like Fingent can assist companies from wholesalers to distributors to e-commerce with the advantage of custom logistic solutions. Get in touch with us to spearhead your operations swiftly and efficiently.
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Custom Accounting Software Development: Understand the Steps, Cost, and Benefits!
Small business accounting software is a system that helps maintain a count of business revenues, cash reserves, loan allocation, cash flow, and payment data. There are several pre-packaged commercial accounting software available to meet business requirements. However, custom development of accounting software helps address a business’s specific needs.
Custom accounting software is developed keeping in mind the specific needs and goals of your company. Typically, a custom accounting software system helps businesses streamline business operations such as cash flow tracking, tax calculating, internal auditing, financial transactions, business analysis, and reporting.
Small business accounting software solutions help reduce human resource costs and increase overall productivity. Most start-ups adopt accounting programs to boost competitive advantages to develop into mid-size and large companies.
Benefits of custom accounting software
1. Improves efficiency
There’s no denying that technology works faster than humans. All you need to do is input the data correctly and command it to perform the function. The software will perform all the tasks within the stipulated time frame. Simply put, custom accounting software does all the finance-related work while the business owner can concentrate on your business.
2. Reduces human errors
Regardless of your business’s size, you need an accounting system. Otherwise, managing all the accounts can be a daunting task. In the process, there will be some chances of human errors. A custom accounting software will perform all the functions with technical efficiency and helps in reducing human errors.
3. Saves time
Custom accounting software allows you to perform more tasks in less time and enables business growth. With small business accounting software, your resource hiring and maintenance costs will come down as the software allows you to handle more accounting jobs in less time.
4. Better financial monitoring and reporting
When financial operations are handled manually, the financial reports are usually prepared at the end of the year. Organizations can reduce this mundane task with the help of custom accounting software. It can generate the report at any time and help you identify any problems beforehand.
5. Faster data processing
When it comes to accounting, you must have experienced and efficient people to register and process all the data before using it. Custom accounting software makes this process easier and faster.
Significance of small business accounting software
Business accounting includes a wide range of operations to capture the entire financial situation of an organization. Done manually, it is time-consuming and a daunting task. However, custom accounting software has helped automate all the processes, allowing business owners more time to concentrate on other vital business aspects.
Without accounting, it’s impossible to do business. The accounting team makes it possible to evaluate the progress of the organization. It gathers information, creates arrangements, and evaluates the financial data of the organization. Small business accounting software simplifies financial reporting and management of operations.
Steps involved in custom accounting software development
Step 1. Define an idea
So, you got an excellent idea for your small business accounting software? That’s great! The idea itself is enough to kickstart the project. Next, you need to solidify it into an actionable strategy. Your team should take the initiative, perform analysis, identify the additional functions and features that will be feasible for the system.
Step 2. Design the UX/UI of your system
After assessing the project, the next step is to start on the prototypes and designs. The cost of software development tools is often based on the number of features the solution requires. As a business owner, you can ask the developer to design the app according to your business needs.
You will be able to decide what to add and delete during the initial phase. Once the software’s framework and future design are accepted, you can switch to determining the accounting software’s functionality.
Step 3. Decide the features and functionality
Some of the critical features you need to include in the software are:
- Account management
- Inventory management
- Invoice processing
- Multi-user support
- VAT calculations
- Third-party app integration
- Sales order
- Payroll management
- Credit tracking
- Payment management
- Advanced analytics
- Billing management & record keeping
- Generate reports
Step 4. Develop the software
Designing accounting software is a complex and time-consuming process. However, using a questionnaire development approach can help develop appropriate accounting software.
Designers and QA engineers need to compose test cases before the actual development work. This will prevent any bugs in the future. At Fingent, our developers know the trending designs and develop applications using configuration management techniques to ensure proper software development methodology. Before that, we guarantee to address all the steps and innovations.
Step 5. Deploy and maintain
After the development of the software, the project is implemented and ready to use. The application may need tracking and improvements to stay relevant. Therefore, a support and maintenance team is a must for small business accounting software. The team must resolve issues and cope with problems in case of any crashes.
Cost of custom accounting software development
The development cost depends on several factors, such as the software’s features and techniques. The more features and tools you require, the more money you may need to spend from your pocket.
Additionally, you will have to consider the production period- the longer it will take, the more expensive it will be. The cost would also rely on the developers you employ to create your software.
Choosing the right partner for custom software development
Custom accounting software development may seem challenging, but it proves worthy in the long run as it allows your business to stay out of chaos. When businesses go for custom software development, they can build new capabilities on top of existing enterprise applications. Custom software solutions appeal to tech leaders and companies of all sectors globally. In today’s dipping economy, software development companies like Fingent help businesses restart or rebuild what they lagged with custom software solutions.
Being the top custom software development company, Fingent helps you identify the right tech stack and skills required to develop your software. Are you wondering how to boost your company’s growth and operating efficiency? Talk to our expert right away and get your questions answered.
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How can companies ensure cloud security amid cyber threats and malicious online activities?
The explosion of the cloud has changed the face of the business process as we know it. Nearly 90% of companies rely on the cloud. And yet, there has been some skepticism around cloud security. With recent breaches and technological attacks, maintaining cloud security has become the foremost concern for businesses worldwide.
Security experts at Fingent understand your concern, and so we have put together this blog about the importance of cloud security and the best practices which will ensure that you are secure on the cloud.
Why is cloud security important?
According to a report by Cisco, cloud data centers process 94% of all workloads. Despite the popularity attained by cloud technology, most of these companies are skeptical about cloud security. There is a reason for this. Statista reports the number of data breaches in the U.S alone increased to 156 million in 2020. It has also been reported that hackers attack every 39 seconds. This can be fatal to businesses in the following ways:
1. Managing remote work
Remote work lets you hire talent from across the globe. However, this arrangement entails inherent security risks. Using personal devices may expose your data to malware and phishing attacks. If a malicious virus enters through them into your cloud system, the damage done could cut your company off at its knees.
Read more: Why It’s Time to Embrace Cloud and Mobility Trends To Recession-Proof Your Business?
2. Security breaches
If your company chooses to run your application on a public or hybrid cloud, you are entrusting a third-party to take care of your data. This means you no longer have any control over data security. So it is critical to stay on top of things and ensure that your cloud computing provider is serious about this responsibility. Even when you know your provider will ensure top-tier security, it is your responsibility to verify that your data is secure as a client.
3. Comply with regulations
Data protection standards were put together to ensure the integrity and security of customer data. When you store your customer data on the cloud, it is your responsibility to keep it secure, especially if your organization belongs to a highly regulated industry like finance, insurance, banking, or legal. A data breach will destroy your reputation and brand because external parties will hold you accountable.
4. Build access levels
Unintentional leaks of data will compromise your business integrity and give your competition a leg up. Limiting data access only to those employees who need it can prevent errors that lead to data leaks.
5. Disaster recovery
Disasters such as flooding or fire can strike without warning. Unless your data is secured and protected, you could lose all your data. This may undermine customers’ confidence in your organization, delivering a death blow to your otherwise successful business.
Best practices to ensure cloud security
- Carefully choose a trusted provider
- Review your cloud security contracts and SLAs
- Understand your partnership of shared responsibility
- Control employee access
- Secure user endpoints
- Maintain visibility of your cloud services
- Implement a strong password security policy
- Highest levels of encryption
“Cloud computing is a challenge to security, but one that can be overcome” – Whitfield Diffie, an American cryptographer.
True to Whitfield Diffie’s words, cloud security measures can be taken to encrypt the system that will help achieve adequate cloud security.
1. Carefully choose a trusted provider
Partnering with a trusted provider is the foundation for cloud security. Choose a partner who delivers the best in-built security protocols and follows industry best practices’ highest levels. You need to ensure that you confirm their security compliance and certifications.
Learn more: Take a look at how InfinCE, an infinite cloud platform, ensures secured work-collaboration within an organization and helps enhance company efficiency & growth!
2. Review your cloud security contracts and SLAs
In an event, SLAs and contracts are the only guarantees of service and course of assistance. 62.7% of cloud providers do not specify that customer data is owned by the customer, creating a legal grey area. Read through the terms and conditions, annexes, and appendices to ensure who owns the data and what happens if you terminate the services. Also, seek clarity on visibility into any security events and responses.
3. Understand your partnership of shared responsibility
When you tie-up with a cloud service provider, you enter into a partnership of shared responsibility for security implementation. Understanding the shared responsibility involves discovering which security tasks you will handle and which your provider will handle. It is important to ensure transparency and clarity in your partnership of shared responsibility.
4. Control employee access
Implementing strict control of user access through policies will help you manage employees who attempt to access your Cloud services. Cloud security best practice starts from a place of zero trust. Afford user access to data and systems only to those who require it. To avoid confusion and complexity, create well-defined groups with assigned roles. This will allow you to add users directly to the group rather than customizing access for each employee.
5. Secure user endpoints
Since most of your users access your cloud services through web browsers, it is crucial to introduce advanced client-side security to keep it protected from exploits. Implementing endpoint security solutions that include firewalls, antivirus, intrusion detection tools, and more will help to protect your end-user devices.
6. Maintain visibility of your cloud services
Remember, you cannot secure something that you cannot see. Using multiple cloud services across various providers and geographies can create blind spots in your cloud environment. Make sure you implement a cloud security solution that provides visibility of your entire ecosystem. You can then implement granular security policies to mitigate a wide range of security risks.
7. Implement a strong password security policy
Strong password security may sound basic, but it is an important element in preventing unauthorized access. Have a strong and strict password policy. To defend against most brute force attacks, enforce a rule that users update their password every three months. You may also implement multi-factor authentication. This would require a user to add two or more pieces of evidence to authenticate his/her identity allowing you to trust your users while ensuring that they are authorized users.
8. Highest levels of encryption
Your data may get exposed to increased risk while sending it back and forth between your network and the cloud service. You must consider using your own encryption solutions for data, both in transit and at rest. Encryption keys will help you maintain complete control over your data.
Don’t wait till it’s too late!
You never know when a stealthy hacker could attack your business and make you go under. All organizations, independent of their size, can benefit from these best practices and improve their cloud usage security.
At Fingent, our experts go above and beyond to ensure that your business is hacker-proof and secure. If you need to discuss cloud security options, do not put it on the back burner! It could creep up on you and set your whole business afire, ruining your competitive edge and spelling doom for the future. Call our experts and discuss your options today.