Here are 8 ways how a good transportation management system could make a difference to your business if you are a 3PL or NVOCC operator.

With the expansion of world trade and multinational business activity, more and more organizations are keen on operating globally and making their presence felt in the global market. Transportation and logistics play a huge role in helping such organizations expand their business and establish new business relationships. Large businesses prefer building their own teams to handle their supply chain & logistics requirements.

However, research reveals that more than 80 percent of all Fortune 500 and Fortune 100 companies use some form of 3PL (Third Party Logistics) services to handle their logistics and supply chain processes. This is because third-party logistics providers usually have a huge network, which offers a competitive advantage over in-house supply chains. Outsourcing logistics also help the organization by saving time, effort and money involved in maintaining the in-house logistics process.

3PL is, therefore, a highly competitive market and providers must compete to win and retain their clients. Providers typically specialize in transportation, warehousing, order management and other integrated services, which can be scaled or customized to meet the customer’s specific need.

Challenges faced by 3rd Party Logistics Service Providers

Time Constraints

Effective utilization of time is one among the most critical factors that determine the success of any logistics service provider. 3PL providers should be able to support customers by minimizing the inbound lead time, i.e., the amount of time taken from the point of placing an order to the point the shipment is received by the customer. To achieve this, providers should be able to effectively communicate and coordinate with the shipping agents, transport carriers, customs agents, etc. on a prompt and timely basis.

Lack of Infrastructure

Lead logistics providers are 3PL providers without their own assets, who have specialized industry expertise along with low overhead costs. However, they have lower negotiating power since they have with them fewer resources to offer compared to other service providers in the market. In such a situation, the success of the 3PL provider depends on their ability to partner with independent transport carriers and offer competitive rates to customers.

Documentation

It is a difficult task for small and mid-sized 3PL providers to keep track of information related to all their shipments. There are different types of documents involved in international trade transactions. These include purchase orders, bills of lading, air waybill, cargo insurance certificates, commercial invoices, packing lists, delivery note, certificates of origin, dock receipts, export licenses, etc.

Management of transport documents is a challenging task due to the administrative process involved, large volumes of documentation, transfer of the document and ownership of goods from one party to another. Logistics service providers must ensure that the right set of documents are transferred between the shipper, consignee, notify party, transport carriers and other parties involved in the transaction.

Lack of Reporting Systems

In most cases, the upper-level managers working with 3PL service providers and Non-vessel operating common carriers (NVOCCs) tend to focus on their core activity of transportation and logistics management. This leads to situations where they do not have enough visibility or insight into the other functional areas of their business. Depending on the size of the business, poor management of the business processes and resources could result in the loss of up to hundreds of thousands of dollars each year.

Benefits of a Transportation Management System (TMS)

3PL providers could utilize transportation management systems to refine their existing processes and improve overall efficiency. There are many ways of automating the logistics process, including tracking and monitoring each delivery. Some of the key features offered by Transportation Management Systems include:

Order Management

Transportation management systems help logistics service providers (LSP) to streamline their order management process by integrating their ERP and distribution modules. This adds a lot of value to LSPs, especially in situations where they have to manage large amounts of shipment or order data from multiple sources. It also offers customers the ability to track the status of their orders or shipments. 

Document Management

Supply chain transactions involve various sets of standardized documentation flowing from the buyer to the seller, documentation required for trading or banking requirements, and also by customs authorities. In case the shipper, consignee or notifying party does not have a dedicated team to handle their supply chain & logistics process, LSPs play a vital role in managing the documentation and supporting them in complying to commercial laws like the Incoterms. Transportation management helps in automating the documentation process and allows for the generation and transfer of shipping documentation using the system.

Electronic Data Interchange (EDI)

EDI has become a crucial part of modern business, allowing for the electronic exchange of business documents between trading partners. It helps service providers to communicate with their trading partners and electronically transfer documentation like purchase orders and invoices. EDI solutions help by leveraging various transaction sets like:

1. 204 – Motor Carrier Shipping Information: Used by shippers to tender an offer for a shipment to a full truckload motor carrier.
2. 210 – Motor Carrier Freight Details and Invoice:  Sent from the carrier to a shipper, consignee or third-party payment center for payment of freight charges.
3. 214 – Motor Carrier Shipment Status Message: Used by transportation carriers, such as trucking companies, to provide shippers and consignees with the status of their shipments.
4. 990 – Response to Load Tender: Used by motor carriers to indicate whether it will pick up a particular shipment previously offered by the shipper.
5. 997 – Functional Acknowledgment: Serves as a receipt, to acknowledge that an EDI transaction or a group of transactions was received by the remote party.

Rate Sheet Management

Freight rates are made up of a complex combination including the type of load, base rate, surcharges, equipment charges and other additional charges. Cargo may be transported in various loads depending on the mode of transportation, for e.g., as FCL (Full Container Load) or LCL (Less than Container Load) in case of sea freight. Each mode of transportation could, therefore, have an implication on the rate of the shipment. Transportation management systems help LSPs to create rate sheets for the specific service they offer and assign them to a customer or vendor based on the contract and rates agreed. Shippers can access the system at their convenience and manage or review the applicable rates before they place the order.

Dispatch Management

Dispatch management provides the capability to dispatch, deliver and track shipments. It allows LSPs to track the shipments, review driver activity, locations of pickup and delivery, manage load types like FTL or LTL, split trips, etc. A good dispatch management software could help LSPs to consolidate shipments from various customers and review the dispatch process handled by different vendors, which in turn saves a lot of time. It offers a business opportunity for owner-operators and independent drivers, to engage with the 3PL or NVOCC provider and track their upcoming, ongoing or previous shipments by using the service providers system.

Fleet Tracking

Smartphone-based GPS-tracking systems provide logistics service providers, especially trucking companies, with real-time information regarding their shipments. 3PL and NVOCC operators will be able to track the location of trucks managed by their vendors and assign shipments or orders to the relevant trucks based on their GPS location and route.

Warehouse Management

Warehouse management systems allow 3PL companies and NVOCC to manage customers, processes and billing schedules. The system enables access to real-time information and provides integrations with warehouse management technologies, including e-commerce shopping carts and QR or barcode scanning.  The software also helps operators to manage different stock levels in warehouses, streamline the supply chain process, and satisfy customers by keeping them updated and informed on the status of their cargo.

Data Warehouse ETL and Reporting Tools

Logistics service providers have to handle large amounts of data related to shipments, their weights, sizes and contact details or returns on a regular basis. This leads to an incredible amount of information over time that has the potential to be analyzed for identifying business trends. This, in turn, could help the service providers to take important business decisions based on real-time data. It would also help conduct detailed cost-benefit analysis to improve profitability and optimize on-time deliveries to ensure customer satisfaction.

Timely and reliable delivery can mean the difference between repetitive business and a one time sale. Hence, the ability to plan, optimize, execute, analyze, and react to every logistics requirement is a critical factor that determines the success of any 3PL provider. Transportation Management Systems help 3PL providers to streamline their business processes and resolve any operational challenges that they are facing. It provides a competitive edge and improves their ability to manage and dispatch orders, with a lesser lead time. A good transportation management system could thus help 3PLs to reduce transportation costs, lower total cost of ownership and increase customer satisfaction.

Any client needs to know how a proposed app is likely to work and impact their business. It will provide them with an insight into the functionality of the app and how it helps the end users.  This is where wireframing comes into play as an essential part of mobile app development. A professional app development company can use wireframing as an essential tool for laying out the functionality, visualization, navigation, UI and preliminary function of an app. 

Wireframes have a significant role in the design process. As yet, wireframing has been the most effective way to detect usability issues early on in the design process. Wireframes typically do not include color, graphics or stylized fonts so that the reviewer is least distracted and focused on the user flows and user experience.  In what follows, we will highlight why wireframes constitute a vital part of the app development process. 

App Designers consider Wireframing an Ideal Building Block 

Wireframes are essentially a visual conception that illustrates the screen interface of an app. Usually conceived as black and white layouts, the wireframes outlines how different elements of the app like pages, navigation, and conversion portions are laid out. As a blueprint, a wireframe ensures the level of attention in design and UI so that it remains practical for the end user.  

It lays out the skeleton of the app which portrays the page‘s interface (elements spacing, content prioritization, and functionalities) and how users interact with the site. Wireframes act as the vital link between the information architecture and the visual aspects of the design. 

Moreover, wireframes act as a visual representation of how the user manages different scenarios and achieves the business objectives. It acts as a site architecture with links provided in each of the wireframes so that a clickable model is built for getting a full demo experience of the app. 

Wireframing is the stepping stone for an app to become successful, which also have numerous other benefits. 

Wireframing Tools – Key to Navigating the Flow of the App

A wireframing tool will help you understand how to create an app or website essentially easier by visually paring the product down and focus on the functionality and user interactivity of your product. 

Clients need to be educated on how your proposed app or website will work. A written or verbal explanation would leave major functionalities down to their imagination, giving way to more errors. This situation is not helpful for you or your client. It is here that wireframing tools can play a significant role in squaring that circle.

Wireframing tools differ with varying levels of functionality some of which can be used purely for simple wireframes, while others to create a working prototype. Some wireframe tools take you through the entire process of roughly sketching your wireframes, creating sitemaps, flowcharts, and storyboards; collaborating them with others, and building functional prototypes.

The Boons of Wireframing in App Development

What wireframing does is to create a visual framework of the entire app. It steers clear from complex flowcharts by substituting with an understandable model that eases the workflow and accelerates the app development process. The following is a check-list of the benefits of using wireframing in application development:  

• A Walkthrough of the App 

The blueprint of the app laid out through wireframes will give the client a clear picture of what the app is about and its functionality. Using wireframes, the client can suggest changes or improvements so that the final app design remains in accord with their goals. A proper wireframe is essentially a walkthrough of the app that guides the clients and developers to focus on building the app solely with the end user experience in mind. 

• Improves Development Process

Wireframes aid real-time communication within the team, which helps speed up the development process. It eliminates design errors as the wireframes can provide insights into the workflows to be used by each section of the development team. The improved app workflow helps the team to focus on the responsiveness of the app using regular feedbacks. Such a method is very useful if a deadline is looming large. 

• Aids Interactive Apps

Some apps need good animation display such as in case of a gaming app. An interactive app requires a blueprint for visualizing all the ideas, designs and features. Wireframing allows just that as it gives developers the means to preconceive the visual and moving elements within the app. This will give them an estimate of how the interactive elements of the app functions and the effect that it has on the user experience. 

• Allows Easy Changes

With a wireframing tool, it is easier to make the necessary changes during the app development process. The wireframing model allows the clients to suggest the necessary changes during the actual development. Developers can then work on these suggestions easily by making the relevant changes to the app. Any changes made will instantly reflect in the app, which allows the development team to implement the client suggestions right away. 

• Minimizes Overall Project Costs

Having a good wireframe for an app can cut down the costs involved in its development significantly. The client can request the necessary changes when previewing a demo of the app through the wireframes. This prompts the development team to work on these changes in the initial stages of building the app. Changes or additions during the final stages usually prove costly. A wireframe eliminates this and quickens the process of making the app ready for the launch. 

Building a great wireframe

At Fingent, wireframes are a complete reflection of our client’s unique requirements. Our team makes it a point to understand our clients not just from a technical perspective but from an emotional perspective as well. This helps us address their requirements better so that the end results always remain fruitful. For that purpose, we employ a standard process of wireframing to build apps with rich user experience and responsiveness. Here are the major steps involved in our wireframing process:

• Understanding the client – Getting to know what the client wants from a technical perspective helps us in determining the right solution for them. But we go an extra mile to understand the client from an emotional perspective as well so that we can serve them better and do more than just provide a technology solution. We get to know what exactly is in the minds of our clients, which helps us in being proactive in our approach.
• Understanding the outcome – The first step in creating a wireframe is understanding what our client intends to do or convey through a particular app. That is, what the client wants his/her users to do. It includes finding out whether the client wants its users to do a particular action or read a particular thing or even feel a particular way after going through the page or app section.
• Creating user stories – We then create user stories which cover the list of features required in the application and also a brief description of the flow and functionality within each section. This helps us better in knowing what to use and where it is placed like whether it is best to use a checkbox or a radio button for a particular element on the page or to have a text box or drop-down menu for another element etc. While creating the wireframes, this can act as a quick reference.
• Designing the wireframes – After obtaining the required inputs from our clients, we then proceed with creating the wireframes by using a stencil kit or other simple wireframing tools depending on the complexity of the application. The wireframes that we create using this method are shared with our clients as well as our designers so that everyone can come up with better ideas and solutions.
• The user interface – While we go about the process of wireframing, we always keep in mind our client’s unique requirements. But we also make it a point to put ourselves in the shoes of the users of the app as well. This helps us understand and answer many questions that the users might have in their minds while going through the app. Together with the valuable inputs from our client, we create apps that are more user-friendly by applying the necessary changes. We preoccupy ourselves with questions during development such as ‘What does the user want?’ or ‘What will the user think?’ What we primarily ask ourselves while wireframing for apps and web pages is ‘What does the user want?’ or ‘What will the user think?’ with the aim of  leading the users to what our client wants them to do.

Summing Up 

In a nutshell, a good wireframe is a simplified visual concept of the future app. But they can also wreck a project if not done correctly. It helps build a mockup of the proposed app that contains its would-be features and functions. 

It doesn’t give any idea about the design but helps to understand the functionality of the application, which is its definitive advantage. It enables the client, developer, and designer walk through the structure of the app without being distracted by colors or graphics.

Even though wireframing could take up some time before the development of the solution, it is always better to make your wireframes perfect and then get into development. At Fingent top custom software development company, we make it a point to wireframe every section of any app, as it is much more meaningful and safe for development later. Our experts assert the importance of wireframing as it allows in creating flexible workflows for easily incorporating changes. Moreover, it simplify the process for the developers and designers to begin executing once the core features and elements are confirmed.

Throughout the process of wireframing and development, we believe it is best to keep in touch with our clients on a regular basis. In this way, we are able to keep them updated on the developments and gather feedback to make sure that it ultimately meets their requirements. This approach not only helps us in our projects but also in building solutions that truly matter to our clients.

The importance of security can never be understated in today’s age of big-time security breaches, where cyber-criminals strike at will. However, the enterprise app development team needs to make sure that the security does not impede usability, or in other words, security is not self-defeating.

Most apps and solutions tap into the corporate database and handle sensitive data, including personally identifiable information. The implications of a breach can be ruinous and even sound the death-knell of the company. However, at the same time, today’s demanding workforce and highly pampered customers seek intuitive and easy-to-use apps. Customer satisfaction is critical to the survival of the app.

The conventional approach to security is akin to adding more number of locks to the door of a house. While it makes it difficult for thieves to penetrate such a house, it also makes it difficult for the occupants themselves to enter.  In the digital world, forced to log in every time, forced to log in first into the device, then log into the software, and then enter a transaction password, being forced to change all these passwords once every two weeks, being said the password is not long enough or was used previously, and more, all strengthen security, but are major irritants and impede usability greatly.

Here are some ways to balance the security-usability conundrum, or ensure security does not end-up self-defeating the very purpose of the app.

Implement Security by Design

The best approach to security is “security by design” or co-opting security during the development process itself.

When security is embedded into the planning, design and implementation phases, developers may code with security in mind, use secure frameworks, and co-opt security testing a part of the app development process.

Adding security layers at a later stage makes the entire process awkward, and hinders usability. Often tweaks have to be affected, and well-written code redone. The analogy is to manufacturing a door with a single tamper-proof deadbolt lock built-in, as opposed to adding multiple locks after the door is installed, to get the same strength.

Collaborate with all Stakeholders

App developers need to collaborate with security experts and business managers, to assess the security risks and determine the best solutions to solve underlying security issues.

If bringing the security and development team together is a challenge, establishing common ground is an even bigger challenge. Developers seek to make things as easy as possible for their customers or users. The security team remains obsessed with the safety of data, often with the attitude if someone has to wait a few extra seconds to access the data, so be it. They remain oblivious to the implications of the harried customer moving on elsewhere rather than wait or put up with a convoluted system.  Google usability studies reveal even a tenth of a second delay in an app’s performance adversely affects the user experience.

A collaborative team effort, where every stakeholder is part of the prototype, design, and testing tasks make finding a common ground and workarounds easy. For instance, with a security team in the mix, developers will no longer have to figure how to securely connect to the enterprise every time they build an app. Inputs from the security team would help them build a secure connection, VPN or otherwise, which may even be reused for other apps. In the same way, security could design a secure way for users to log into these apps.

Opt for Hardware-Based Authentication

Developments in hardware technology offer an effective antidote to security vulnerabilities, without having to compromise on usability. A case in point is Apple’s Touch ID fingerprint scanner and compatible Android systems. By deploying such hardware-based security and authentication, users do not have to wrestle with irritating passwords, and developers are spared the cumbersome work in securing data and authenticating users through the application code. It also leads to faster development lifecycle and a much cleaner code.

Limit Availability of Sensitive Data

If data is not there to be stolen, it won’t be stolen.

Businesses would do well to reconsider their business model and limit the availability of data online only to the minimal extent required. Hypersensitive data may be stored in impregnable silos, using military grade authentication, quite contrary to the much-touted logic of eradicating silos to facilitate big data analytics. Only the data required for analytics may be released, on a need-basis.  

Developers could also make use of Security Information and Event Management (SIEM). SIEM collects security log events from numerous hosts connected to the enterprise servers, to identify normal patterns. An abnormal usage pattern triggers alerts, and even lockdowns, safeguarding the data. At the same time, normal, routine usage is allowed unobtrusively. The challenge lies in the complexity of configuring the SIEM.

Leverage the Power of Simplicity

Leverage the power of simplicity. Simple apps, with a minimalist design, and lean coding are not just easy on the users but contain lesser vulnerabilities. Such a set-up also minimize the chance of users doing anything to compromise security. A case in point is Amsterdam-based Usabilla putting in the minimal security necessary, and nothing more for its consumer feedback service. The simplifying services and features encouraged users to follow the right path rather than take actions having potential security implications.

Hire Competent Developers

Often skills gaps, poor planning and poor understanding of the business model by the developer aggravates the usability-security conundrum. Hiring competent enterprise app developers, who have considerable experience and exposure to the business, who are able to work closely with business managers, and who are able to deploy the best tools and techniques of the trade, is the key to develop highly intuitive apps, which are highly secure at the same time.

Infince to Exhibit at The Small Business Expo, New York and Boston

WHITE PLAINS –April 17, 2018– Infince will be exhibiting during The Small Business Expo ( America’s biggest event for entrepreneurs and business owners ), in New York on Thursday, May 3, 2018, and in Boston on Thursday, May 17, 2018. Infince will be located at Exhibitor Booth 521 in New York’s Javits Center and Booth 420 in Boston’s Hynes Convention Center.

Infince delivers the three IT-essentials for business:  run-your-business software, secure cloud hosting, and concierge IT services, on a single tightly integrated platform. Created by Fingent, a leading developer of cloud-based technologies, Infince gives a business instant access to a complete, reliable, fully supported, and secure IT infrastructure, even if they don’t have any in-house IT expertise. Perfect for today’s “deskless” worker and employees who BYOD.

Software: Infince offers a turnkey library of free, open source, enterprise software, including customizable CMS, ERP, CRM, and marketing automation software; and enables unified access to popular SaaS services, all of which can be activated or deactivated on demand. This integration greatly facilitates onboarding and offboarding of employees. A business’ internet domain, email server, and website can be set up with a few clicks. Out of the box, each user gets a suite of business office software, email, chat, secure file sharing, and productivity tools, including video meetings.

Cloud: Unlike other cloud providers who have complex configuration options primarily catering to software developers, provisioning cloud resources on Infince is easy-to-do and easy-to-understand. Infince lets a business owner grow and manage their IT infrastructure themselves, in economical bite-sized increments. All employee files and communications are secured and inaccessible to search engine companies.

Services: Infince offers a variety of service options including online help desk and expert application technical support, self-help support, configuration assistance, server management, and affordable custom programming services.

Cost and Pre-requisites: An introductory starter package supporting up to 10 users is offered at $50 per month, and it requires no annual commitment. As a “thin client,” virtual desktop, Infince can be run from anywhere there is available internet service and on any device with supported browsers: from Chromebooks, tablets, and smartphones, to PC’s and Macs.

“Infince is a complete and worry-free cloud offering that lets a business adopt technology quickly, with integrated support, and lets owners stay focused on achieving their core business goals.” said Stephen Cummings, SVP.

Easy to use and simple to deploy, Infince makes it economical for a small business to get big business technology. For more info, see infince.com.

About Fingent:   Fingent, the creator of Infince, develops software that equips businesses to operate more effectively, more efficiently, and with more resiliency. Since 2003, Fingent has developed sophisticated web and mobile software solutions that have been key to our clients’ business success — rapidly, on schedule, and on budget. Fingent has offices in White Plains, NY, and Cambridge, MA. For us, it is not just about delivering software, but also about partnering in business efforts to shape a brighter and smarter future.

The worldwide enterprise mobility market is growing by 24% GAGR, and its value will likely touch $140 billion by 2020. A key contributor to the growth is Android. However, enterprise seeking to leverage the gains of Android-powered mobility, however, needs to roll out intuitive Android apps, through which they can channel the ecosystem to the desired effect.

Here are the benefits enterprises stand to leverage by investing in Android apps

1. Android Cut Costs

Android is open-source. Its Software Development Kit (SDK) is available free of cost. Enterprises rolling out Android apps to power their systems and processes need to spend only on the development costs. They can minimize the software licensing costs, and get their software free of any royalties. The saving is considerable, considering CFOs in today’s highly competitive age are penny-pinchers, and reluctant to invest in anything not directly contributing to the bottom-line. 

2. Android facilitates Easy Integration

Most enterprises have multiple entities, departments, and processes. Having separate and distinct systems or processes for each entity needlessly duplicates the efforts and costs needed to maintain such systems, and also creates disjoints and data silos. Many enterprises strive to run company processes through a single integrated system. Android is the perfect platform for such an approach, as is is resilient, and able to run on any device or form factor. An enterprise can easily develop a CRM on Android and seamlessly link it with an Android developed a marketing automation suite, a Human Resource Information System, and more, creating an integrated whole. Such an approach ends the menace of data silos and facilitates the smooth and seamless flow of information across the enterprise.

A comprehensive Android-based platform is a convenient way to manage all functions of enterprises. The enterprise can roll out several functional apps, each linking to the integrated system. Such apps, which sits over the traditional enterprise systems, and which updates the systems in real-time, may be tailored to suit the workflow and process of the employee or the department. It gives an unprecedented level of flexibility to the employees and makes the enterprise adapt to respond to changes faster. For instance, if a particular situation requires a new workflow or a new level of coordination, all the enterprise needs to do is roll out a new app and disseminate it to the concerned employees or stakeholders.

3. Android Delivers Flexibility

Many-a-times, enterprises are forced to adjust their business operations to cater to the demands of an inflexible system. The ease and low costs to develop Android apps, and the flexibility of the Android platform mean enterprises need not make such sacrifices and can pursue their objectives in the most efficient way possible. Android makes it very easy and viable to develop tailor-made, and even innovative apps to suit any processes or any requirement. Custom apps may also be localized to maximize productivity.

4. Ease of Installation and Use

Developers have it easy with Android, thanks to the availability of Android tools which offer easy ways to improve, fix, and update apps thanks to the facilities that Android tools provide them.

Android applications are flexible and resilient to be published and pushed in multiple ways. It may be hosted in an app store, or even distributed through APKs. Enterprises can easily ensure their employees, customers or other targeted stakeholders can access and download the app in a very simple way, without any hassle. Unlike other stacks, which require a lot of learning curve and even set-up assistance, Android’s simple and easy nature makes it a DIY proposition.

Android brings very few complications or compatibility issues. Custom built Android apps, designed with end-user requirements in mind offer very little complication and syncs seamlessly with any business software, including legacy systems. The open source nature also means the availability of several connectors to link enterprise applications with popular packages such as Salesforce, MailChimp, and more.

Bizness Apps – “Mobile Apps For Businesses Made Easy” [Source : Flikli]

5. A Fillip for BYOD

The Bring your own Device (BYOD) concept is a rage in enterprises. A big reason for its popularity is the win-win proposition it offers to both the enterprises and the employees alike. Enterprises save on hardware and training costs, whereas employees get the convenience of working in their own familiar devices, with the associated productivity benefits. However, the success of BYOD depends on the availability of highly functional apps, through which employees can access their work. Logging in to the corporate intranet through a mobile browser every time is highly cumbersome and in any case, an inefficient way to work, frittering away much of the gains of mobility.

Android apps allow the employee to work seamlessly. It allows the enterprise to set policies to ensure BYOD does not compromise the integrity of enterprise data and processes.

With BYOD, employees, especially those on the move, can access enterprise applications securely through the API, and from their usual device. This expedites the decision-making process, makes work seamless, and saves the executives’ effort.

6. Valuing the Stakeholders

Forward-looking enterprises of today share some common traits, and being responsive is one such trait. Enterprises which are responsive to its stakeholders, promote an open culture, and encourage feedback, gain a positive image, and reap rich indirect benefits out of it. A collaborative software development approach, with end users and other stakeholders having a major say syncs with such a culture and environment.

Android is the perfect medium for such a culture and approach. The large and vibrant Android community makes it the perfect option to receive customer feedback. Users of an Android app can easily share their feedback and even rate the app in the Play Store. Several freely available tools make collaboration easy.

7. Improved Customer Engagement

While mobile apps revolutionize the internal workings of an enterprise, its potential to boost customer engagement stands underrated.

Mobility is clearly the future, with more people already accessing the Internet through their smartphones than through traditional computing devices such as PCs and tablets. Among the various mobile platforms, Android is the dominant player, with 84% of the total mobile market share. Android’s dominance is unlikely to end anytime soon either. Enterprises investing in customer-facing Android apps, and promoting customers to download it to their smartphones, stand the chance of establishing a secured and reliable engagement channel with the maximum number of customers.

The term “blockchain” is now commonly used as a synonym for cryptocurrencies, thanks to the tremendous popularity of Bitcoins. However, Blockchain is only the underlying technology behind Bitcoins. The potential of blockchain is open in many sectors, from banking to logistics, from healthcare to public administration, and more.

Blockchain transactions move data incrementally in peer-to-peer networks, with transaction records kept in transparent ledgers. The technology brings about a paradigm shift in the way enterprises approach data, and how developers write, market, and sell software.

Establishment of New Standards

Blockchain enables smart contracts, which allows any user to store, verify, and execute code on a blockchain. Several projects are now ongoing, holding the potential to replace the traditional processing, storage, and computing elements of the computing stack.

The Hyperledger Fabric, for instance, provides the foundations for identity, privacy, and processing. Developers may build robust components atop the fabric. Ethereum offers a similar blockchain, in either public or private mode. Both allow developers a choice of using enterprise-friendly programming languages to develop smart contracts. Ethereum has its own language which resembles JavaScript. Unlike what conventional languages offer, this Ethreum language allows users to define their own understanding of “consensus” and “currency.”

Blockchain standards are still fluid, with several new standards and protocols coming up by the day. A churn is imminent in the space, but the underlying reality of new standards and protocols is here to stay. The soaring popularity of the blockchain means these new blockchain standards, offering infinite greater possibilities compared to conventional programming, will soon become the norm in software development.

Understand the Blockchain in Two Minutes [Source: IFTF]

Transparent, Multi-Functional Databases

Blockchain adopts a distributed database where data records are accessible to everyone and is but protects against unauthorized access. These databases, built on peer-to-peer technology is more robust and secure and again eliminate the “middleman” provider.

A user having access to the application developed using the Blockchain development technology may view the data or add a record to the database, but cannot modify or delete any data record. Such robust databases improve the integrity of the entire process manifold. The benefits are especially huge in protecting the integrity of information in several sensitive industries, where even a minor change can have big implications.

Several major industries are already exploring the possibility of integrating blockchain databases into their core systems. For instance, GE’s Aviation Division plans to adopt these databases in aviation. The new blockchain-based software could manage GE’s aviation inventory, sales tracking, and record keeping, with a high level of transparency and integrity.

Innovations in this field even allow adding a blockchain layer to existing databases such as MongoDB and RethinkDB. Such interesting approaches allow enterprises to leverage the benefits of blockchain database without overhauling or uprooting their incumbent databases.

Usually, transparency runs counter to integrity. Greater the transparency, greater the risk of the information being tampered. Blockchain databases facilitate both and offer added advantages of cost-effectiveness and improved functionality. At the same time, there is improved accountability and better transaction support.

 Empowerment of New Small sellers

In today’s business ecosystem, any transaction between two parties is done through a third-party middleman, whose primary role is to enforce reliability and trust. For instance, most online financial transactions are done through PayPal, Moneybookers or other intermediaries, who acts as the depository for people sending and receiving money. Likewise, freelance software development largely takes place either through software development firms or through third-party portals such as Upwork. Without such a third-party firm or portal, there is no reliable way for a buyer to contact and get work done from a seller, and for the seller to ensure he gets paid for the work done. The system is loaded against individual programmers, who rarely have the means or the time to market themselves and conduct the extensive administrative requirements vital to establish trust and integrity.

Blockchain offers a level playing field, offering a tremendous advantage to small players. Small sellers can now compete effectively with biggies, and eliminate the middleman firm or portal in the process. The peer-to-peer network of blockchain enables self-executing contracts, which facilitate payments between customers and developers, eliminating the middleman. The net result is an encouragement of small teams and individual developers, radically altering the hierarchy of the software industry.

The blockchain ecosystem is also throwing up various resources, which facilitate such decentralization and de-institutionalization of online transactions. A case in point is Game Protocol, a “decentralized gaming ecosystem” offering crowdfunding and other development tools to host games in the marketplace. The tool also accepts cryptocurrency transactions, allowing enterprise software developers to sell their products directly to the market without the help of an institutional or a virtual middleman who takes a cut of the proceeds.

New File storage Protocols

The Blockchain technology also offers a host of innovative file storage approaches.

The InterPlanetary File System (IPFS) project, which straddles storage and communication systems, offers a radical improvement to the incumbent HTTP communication protocol. The HTTP protocol downloads a single file from a single machine at a time, whereas the  IPFS downloads pieces of a file from multiple decentralized machines simultaneously, similar to how torrents operate. The process also co-opts the concept of Git or shared depositories and comes with several handy considerations such as convenient file naming and solid use cases. The protocol offers client libraries for popular incumbent languages, such as C++, Swift, Phyton, and JavaScript.

Filecoin offers another innovative storage mechanism. The protocol rather than adopt the conventional blockchain method of tracking transactions between blocks of spare storage around data centers and the Internet builds on traditional storage mechanism and adds a blockchain layer to it. Users may bid for the space on offer, and track usage,

The bottom-line of all these innovations is a radical shift in the approach to programming. Many of these new innovations are sure to become the dominant norm in the near future. Top software developers would need to radically alter their approach and co-opt these new concepts.

Disclaimer: The contents of this article reflect the opinion of the author and do not represent Fingent’s view about Facebook’s or Google’s policies

The latest advertising policy from Google and Facebook on cryptocurrencies has been hailed by users, media and even those in the cryptocurrency industry. It is easy to understand why.

Advertising, in itself, is unpopular.

The constant badgering of advertisements on social media, together with the exaggeration of product benefits has led to a lack of trust between advertisers and consumers. With every other cryptocurrency promising to be the next Bitcoin, users on Facebook and Google will be happy to see fewer advertisements promising instant riches and get rich quick schemes. Indeed, cryptocurrencies and ICOs have been viewed, as a fool’s gold.

Like any nascent tech sector, the cryptocurrency area  is extremely unregulated, offering an avenue for fraudsters to take advantage of investors.

“Pump and dump” schemes, a testament to greed and naiveté, have made few people wealthy at the expense of many who bought into the utopian “get rich quick” dreams and “mathematical guarantees” offered by cryptocurrency promoters. Platforms like Facebook and Google provide scamsters with the opportunity to micro segment and target thousands of unsuspecting users, at a very low cost. Gullible investors often invest their life’s savings without understanding how currencies are programmed or how the market for these works. In this context, banning cryptocurrencies and related advertisements, to reduce the risk of consumers being scammed by such groups, appears to be a sensible measure.

But on the other hand there is also a fair argument to be made this ban is unfair.

For one, the policy impinges on doing legitimate business. Advertising is protected by the First Amendment. The Federal Trade Commission (FTC) can regulate the communication of deceptive information. The action by Facebook and the proposed action of Google to ban cryptocurrencies is violative of the freedom to advertise because no federal agency in the US has banned these, and both Google and Facebook are not federal agencies but private entities. As of the time of writing this article, the Securities and Exchange Commission (SEC) has not declared cryptocurrencies illegal. The Commodity Futures Trading Commission (CFTC) considers bitcoin as a commodity and treats it on par with other commodities. It has allowed the launch of bitcoin futures. It has also approved a platform for trading and clearing of virtual currency derivatives.The IRS treats bitcoins as property. Some states are in the process of enacting legislation. The Uniform Law Commission is considering legislation to regulate transactions in cryptocurrencies as transactions in financial assets.

However, at present, there is no law requiring social platforms or search platforms to ban cryptocurrency advertisements.

The moot point for Facebook and Google to consider is whether cryptocurrencies are legitimate or not.Since there is no authority that has banned cryptocurrencies in the US, it is quite unfair to ban ads on cryptocurrencies.

Since the federal or state agencies are ambivalent about cryptocurrencies it is also startling to see forward looking companies such as Google or Facebook to effect a ban ostensibly to safeguard their customers.

But, they forget that in trying to safeguard one set of customers they are denying important information to another set of customers.

Customers, who look up to Facebook and Google for information on certain products and services such as those related to cryptocurrencies.  By this action, both have now bunched cryptocurrencies with weapons, drugs and counterfeit products. In fact, by banning ads on cryptocurrencies, they are perhaps forcing customers to seek information on cryptocurrencies in other channels of communication, which may not have as robust a policy on deceptive advertising as Facebook. One wonders why, with all the resources at the disposal to these behemoths, both companies do not consider it worthwhile to weed out scams or to stop issues like cryptojacking and educating consumers about the risks across all categories instead of imposing blanket bans.

The policies framed by the two internet giants are not specific and very broad.

The operative part of Facebook’s policy is “financial products and services that are frequently associated with misleading or deceptive promotional practices.” One could argue that most advertisements are deceptive promotional practices. Many cryptocurrencies are simply advertising their products and services with straightforward call to action without indulging in any hyperbole. A blanket ban that affects legitimate businesses is unfair.

Then there is a matter of core values and principles.

Facebook and Google have used technology to connect people across national borders. Cryptocurrencies can help people conduct business across national borders without middlemen, providing financial inclusion.  Like the early days of Facebook and Google, Blockchain technologies like Cryptocurrencies are a product of innovation and its full effect is yet in the making. To deny full expression to this technology by the two advertising behemoths is unfair. It looks as though Google and Facebook have taken the path of least resistance by resorting to a blanket ban.

Unsurprisingly, there is the insinuation of strategic motives behind these bans.

On one hand, while technology has made both Google and Facebook iconic brands and large advertising platforms, it is hard to believe that both companies consider it not worth their while to use technology to detect deceptive ads! So does the blanket ban have to do with competition and strategy rather than to ostensibly safeguard user interests?Is it their inability to compete with financial services offered by competitors, that has resulted in the ban? Is Facebook under pressure to follow the official Chinese line on the ban. Or, perhaps the aim is to put up walls till they are able to get around deciding their own crypto strategies. We may never know. Also, both Google and Facebook, plagued by issues about privacy breaches, may not want to find themselves in the dock again for having provided their platforms to scamsters. Nonetheless, to say that all ICOs are scams, impacts people who run legitimate businesses, and is a case of throwing the baby with the bath water.

In summary, while the intention to prevent fraud, curb ponzi schemes and protect consumers is good, who should make decisions about the legitimacy of a business, and the restrictions that should be placed on an industry? Should it be a corporate like Facebook and Google who makes such decisions or should it be those representing society.

Unfortunately, lawmakers are often light years behind technology and work in a reactive mode rather than being proactive.

References:

• Facebook’s policy: https://www.facebook.com/business/news/new-ads-policy-improving-integrity-and-security-of-financial-product-and-services-ads – (last accessed March 25, 2018)
• Google’s new restricted financial products policy : https://support.google.com/adwordspolicy/answer/7648803 ( last accessed March 25, 2018)
• Marketwatch.com: https://www.marketwatch.com/story/heres-how-the-us-and-the-world-are-regulating-bitcoin-and-cryptocurrency-2017-12-18 (accessed March 25, 2018).

IT-as-a-Service (ITaaS) is now a key driver of digital transformation in enterprises. ITaaS treats information technology as a commodity and provides the enterprise with scalable and flexible hardware, software, and support. Enterprises may subscribe to the quantum of resources they require, with easy scalability up and down to suit the changing business requirements.

Such a model offers tremendous benefits for the enterprise.

Scalability and Flexibility to Suit Today’s Business needs

The subscription-based model offered by ITaaS, with a monthly fee paid by the business depending on the number of users and systems in-use of the business, perfectly syncs with today’s business requirements.

For businesses in the growth pace, and for startups, the ready scalability on offer ensures steady growth of IT capabilities to match business growth, without sapping the enterprise energy and resources on provisioning for the same.

Even entrenched enterprises with a dedicated IT department, complete with on-premises servers find the scalability offered by ITaaS handy to augment resources when needed. The ITaaS provider, could, for instance, service end-users and application faults, leaving the in-house IT team to support the core infrastructure components.

The unbridled scalability also comes with flexibility. ITaaS is platform agnostic and offers a flexible delivery model. At the same time, it retains an element of standardization and predictability. The net result is enterprise consumers getting the best of both worlds, resilient to operate in any condition, and the highest levels of service.

ITaaS is delivered from the existing on-premise server rooms, through colocation from a hosted data center environment, or through a cloud-based model. It is possible to mix and match these delivery modes as well.

Implementing ITaaS, however, requires an overhaul of the existing IT ecosystem. While this comes with the usual pangs of change, it also presents an opportunity to overhaul the setup and make it more efficient. Several wasteful practices, and ad-hoc processes, accumulated over the years, may easily be done away with, in favor of the highly efficient ITaaS. Enterprises nevertheless do face some challenges in integrating cloud solutions with legacy systems., and making sure the applications are ‘cloud-friendly’ in terms of latency, and file structure.

As high as 91% of CIOs welcome the flexibility offered by ITaaS, confirming the fact the benefits of ITaaS are for real.

Expert Support Just a Call Away

The unprecedented scalability on offer is also backed up by 24×7 support, and access to expert technical resources. IN today’s age of talent crunch, such resources may not be easy to come by in-house, and even I available, may not make financial sense.

Most ITaaS operators also provide self-service support portals, allowing users to open support tickets, check the FAQs, follow guides and read knowledge base articles, all without involving the IT department. This greatly enhances functional efficiency and accelerates troubleshooting times.  This perfectly syncs with the emerging and hugely popular work from home concepts.

Minimal Upfront IT Investment

In today’s age of heightened competition, many CFO’s prefer to keep purse-strings close to their chest, and are reluctant to invest in anything more than what is absolutely necessary. They usually strike down IT investments which do not generate direct returns on investments, regardless of the scope of indirect benefits. IT as a Service, by allowing the enterprise to invest only for the exact amount of resources required, is music to the ears of such CFOs.

With ITaaS, the enterprise is spared from investing in unneeded infrastructure for future contingencies or be straddled with excess resources no longer required in the foreseeable future. Enterprises are also spared from the costly capital expenditure. With ITaaS, excess capacity, often considered part of the cost of doing business, is totally being eliminated. ITaaS expenditure is transparent, and easily attributable to the operational domain for which it is used. The costs for each transaction can be clearly attributed, and assigned to the end users. Shifting the costs from capital expenditure to operational expenditure also brings significant tax advantages to the table.

ITaaS also contributes to financial stability for the enterprise. With ItaaS, IT expenditure becomes a regular and predictable exercise, rather than one-off capital shocks.

Easy Availability of New Technology

The world of technology is in a state of flux, with new technologies emerging by the day. ITaaS offers enterprise the opportunity to experiment with the latest technology and implement what works for them. Enterprises are spared from spending a fortune up front on an uncertain technology.

More importantly, ITaaS guarantees up to date hardware, and also regular software patches and upgrades. Enterprises are free from the hassles of having to upgrade their IT infrastructure and can focus their attention on their core business process, or serve their customers.

Maintaining up to date systems is important both from a reliability and functional standpoint.

IT-as-a-Service improves network security in a big way.

Enterprises ignore network security at their own peril. The latest Verizon data breach report reveals 70% of all cyber attacks exploiting known vulnerabilities, and some vulnerabilities date back to 1999! ITaaS delivers a coordinated patch regime, ensuring systems are less vulnerable to attacks. ITaaS providers deploy service agents on the IT infrastructure estate of the company, to highlight known vulnerabilities and out-of-date software.  The ecosystem also gets the benefits of regular system backups, pre-deployment testing, and patch updates.

ITaaS also enables continuous monitoring of service, Unified monitoring solutions track utilization, key metrics related to network health, and undertake trend analysis. These solutions cross-correlate code-level and transaction-level performance with the health of the supporting infrastructures, to flag issues as soon as it emerges. Such proactive monitoring identifies the symptoms and indications of a fault before it escalates into a major issue.

The 2017 Global Technology, Media and Telecommunications Predictions Report by Deloitte estimates global spending on IT-as-a-Service to touch $550 billion by the end of 2018. Enterprises currently spent about 25% of their IT budgets on pay-per-use services, on average. Deloitte Global expects the figure to jump to about 35% this year, and to 50% by 2022.

ITaaS is clearly the future, with enterprises no longer having to overpay for things they don’t need. However, the extent to which it serves enterprise needs depends on the extent to which CIOs can align ITaaS with business needs.

It’s always sad to see good tenants vacating your property, when they are not satisfied or happy with their experience. Whenever a tenant vacates, in addition to the vacancy loss, you also need to refund the security deposit, execute move-out maintenance work, advertise the property and bear other costs.

Let’s assume the monthly rent is $1,000.

Vacancy loss(if vacant for a year) = $12,000

Move-out maintenance work = $3,000 (approx. based on the amount of work)

Advertisement cost = $600 yearly (assuming $50 monthly fee)

On an average, your expenses would shoot up beyond $15,600 annually if your tenants vacate, hurting your yield and ROI from the property.  

Just because a tenant has signed a lease, it does not mean that he or she will stay for long. Whether you are an established property manager with a whole portfolio of clients and properties, or if you are starting out in the real estate industry, ‘tenant retention’ is a key factor in improving your returns.

Keeping your tenants for a long period is just as challenging and important as finding them. Why?

Well, first it costs you about a thousand dollars or more every time your tenants move out for advertising, renovation and the loss of rent, while the property is vacant. Every minute that your unit sits empty, it’s costing you money! In addition, you need to bear the cost and effort of moving in new tenants such as agent commission, lease signing & processing fee etc.

Here are 5 quick tips on getting your ideal tenants to stay for the long term!

1)  Provide flexible rent payment options

Once you have succeeded in getting the property leased, the next major objective is to receive monthly rent and other payments. Analyzing and considering the convenience, age, and preference of target tenants is an important factor.

• Requesting tenants to pay rent online via an autopay or auto-deduct system is the best way to collect rent. It eliminates the possibility of tenant forgetting to pay rent.  One-quarter of the U.S. residential sector is already represented by the Millennial generation and majority of them have never used a paper check in their entire life. Online renter’s portal will help them to make rent payments online with their credit or debit card or an electronic check transaction (ACH) securely.  Rent payment at stores via PayNearMe is another trending option to pay rent cash, at their nearby local 7-Eleven or ACE Cash Express stores any hour of the day or night.
• Online payments might be an effective option, but senior or technology averse tenants may not find this convenient. They will most preferably choose traditional methods to pay cash directly to the owner or pay at the bank. They may also prefer stacking the physical receipts for tracking payment history. In such case, it’s always good to send them a reminder by post well-ahead of rent payment due date. They might not check their email inbox, but they surely will check their mailbox. In case you turn up at the property and find out that they have not arranged for cash, an alternate option is to ask their debit/credit card to swipe the same on your mobile device. Swipe Card Reader like udynamo or Authorize.Net mPOS also used by many.

2) Quick turnaround time for maintenance

Maintenance happens all the time, even if the property is vacant. Fixing the wear and tear on a periodic basis is important in addition to snow clearing and pool cleaning.

But maintenance requests from leased properties are a super high priority. Swift action to multiple maintenance requests from various properties can be effectively handled via maintenance management software. In addition to getting a bird’s-eye view of everything that’s going on with every maintenance work, effective response depends on various activities such as attend a maintenance request call, figure out the exact category of work required, finding out the most suitable vendor and availability, getting prompt response from vendors, updating the tenant on progress, flexibility for vendors to capture and share work progress and raise online invoices and get paid for the work.

The tips below will help you to expedite, manage and monitor maintenance works with increased tenant satisfaction.

• Provide and make tenants aware of various options to raise maintenance request. Raising requests from anywhere, at any point in time makes it convenient for tenants. Online tenant portals and a phone call can source in most of the requests. In case the tenant does not have internet or does not want to spend time on hold, toll-free number and IVR (Interactive Voice Response) would be the best options to reach out to the maintenance support staff/property managers.
• Communication is the key. Tenants should be able to give a clear idea of the maintenance required and maintenance support staff should be able to capture the right details & communicate the same to the vendors.
• Scheduling is another key aspect where most of the time is often spent in finding out the apt vendors with matching skill, availability and if they are willing to take up the work. In most cases, vendor reassignment iterations consume time.
• A better solution would be to have an auto-vendor assignment and reassignment system that could automatically search from the list of vendors who are available on the field, with the matching skillset, closest to the property, rating and assign work to them on the fly.
• Mobile apps go a long way to make daily activity for vendor much easier. They get notified of the work assigned to them, they get the information on maintenance required, notify tenants that they are on the way to their home, take photos of work before and after completion, clock the time duration of work, raise change requests and materials required, raise invoices and get feedback or rating.

3) Appreciating consistent on-time rent payments

Just like we encourage kids each time they do something good by rewarding them, tenants appreciate it when you reward their promptness. An appreciation mailer or even a small reward like the ones listed below will positively improve your relationship with the tenant.

• Reward points or talk time balance for maybe 3 consecutive on-time payments that they could redeem as cash or as vouchers which can be used at stores nearby.
• Small discount on rent, for the month in which the tenant’s birthday falls along with a greeting card as well.
• Mail or notification or organize a small tea party for tenants who have their lease anniversary with 12 consistent on-time payments.
• Reduction in the total rent amount when paid 6 months in advance.
• Referral programs or promotional offers will prompt tenants to take up a portion of your job to find the prospective tenants for your vacant properties.

4) Keep tenants informed

Avoid last minute surprises for tenants. We often tend to forget what the tenant might be thinking all the while we are struggling to keep up with the rent collection, lease renewals, move-in/move-out, maintenance activities etc.

Keeping tenants aware of terms and policies, do’s and don’ts, right steps to proceed with lease renewal, moveout, maintenance progress, rewards etc. is equally important.

Provide status of activities via email, SMS and online portal notifications in addition to post and IVR if possible, which would enable tenants to be on top of maintenance status, payments, lease details and other important items.

• Maintenance – Keep the tenant up to date on the exact maintenance status and the next expected step or time for work completion. Most importantly, keep tenants informed of the vendor visit.
• Payments – Payment history, the status of payment made and checking the balance due are critical information that needs to be notified and reminded as well.
• Educate tenants who are unaware of the benefits of paying rent on time like increased tenancy credit score, rewards, various rent payment options etc.

Consequences of late payment should be communicated clearly well in advance when it comes to late fees and eviction.

5) Feedback from tenants who are moving out

Capturing and trying to bring into effect the feedbacks from tenants who are moving out helps a lot. Good tenants might move out due to small reasons, which could have been resolved easily like providing a child-friendly environment or mobility facilities for the disabled.

When it comes to property managers, building good relationships with tenants is the key factor that requires investment of genuine time, effort and communication techniques.

Start practicing a few of the tips above and see how it creates a positive impact on your business. Looking for more real estate technology articles? The following articles might be of interest to you

• Technology for Real Estate Companies: Quick Wins
• Choosing the right Property Management Software
• How technology helped a company manage the property life cycle effectively

Mobile phone user base around the world has been growing at an unprecedented rate. The mobile market shows a lot of growth potential and with that, the growth in the use of the app-based technology. 96% of the Gen Z  is hooked to smartphones, which implies that most of the interaction with the digital world happens via apps. Whether it be communicating, shopping, surfing news or listening to music, mobile apps made life easier for customers. This is why it makes sense for businesses to reach their customers where they are easily available, on their mobile phones.

Benefits of Apps for businesses:

• Mobile apps can help businesses manage their internal operations more efficiently

A business is only as good as the system it is created for its operation. Perhaps the pinnacle of technology innovation is how successful it is in making our everyday tasks easier and more efficient. When customer satisfaction increases, sales typically do too. In fact, according to SalesForce, 70 percent of buying experiences are influenced by how customers feel they’re being treated. The more interested and pleased people become with your product and your business, the greater will be the consumer demand. When customer satisfaction increases, sales typically do too.  Employees can also stay in continuous communication due to wireless networks and mobile platforms, improving the efficiency of the organization. There are several ways mobile communication can increase productivity. However, it is important to keep in mind the security risks that come with it. Thus, it is crucial to choose legitimate and qualified platforms and systems.

• Customizable User Interface

Apps give the sellers an opportunity to customize the user experience based on their customer’s search history and preferences over the app. Using app analytics platforms like Appsee or Firebase can immensely help businesses improve their in-app experience. These platforms provide an in-depth analysis of user behavior as well reports on crashes of your app. Fixing the crashes ensures ease to the customer and promises an increase in the number of app usage sessions for the business.

• Ease of access

Gone are the days when one liked to open the browser, type in the website URL, log into his/her account and then proceed with scanning and ultimately with the purchase. People want a user interface which is convenient, quick, and easy to access-a criterion that mobile apps fulfill. Mobile apps offer ease to customers, by being readily available to them with just one click.

• Ease of making payments

In countries like the US where credit card networks are much developed, mobile wallet adoption rate has seen an encouraging growth. With a push to digital wallets such as PayPal or Apple Pay along with brand-specific wallets such as Walmart Pay, payments over the apps have become a lot easier for users. Using these platforms, customers are good to go without the hassle of logging in and out, again and again to their bank accounts, as is the case with buying the websites.

Bizness Apps – “Mobile Apps For Businesses Made Easy” || Business Explainer Video by Flikli

•  Increased Security

As per the Global Consumer Fraud Survey by ACI Universal Payments, the rate of card frauds in the US spiked. This survey also shows that close to 40% of the card users have reduced their frequency of card use. This highlights a worrying point that the increase in the use of credit or debit cards and even online banking, increases the vulnerability of users to hacking and phishing. Apps enable the customers to surpass the need of quoting their financial details again and again by providing an easy in-app pay option by incorporating digital wallets on their platforms. Using apps combined with digital wallets helps to keep customer’s financial information safe and secured. With the increase in frauds in traditional ways of transacting, more and more customers will look to shift their preferences to app-based technology.

• Value Addition for Customers

Reward the app users with accruing reward points, for maximum app usage, which can be redeemed for further in-app purchases. Such loyalty programs ensure customer retention and help the businesses to clock higher sales. The Starbucks loyalty program is one such example.

• Ease of giving and receiving feedback

Since it is easier for the customers to provide feedback over the apps, businesses stand to gain a lot in terms of increased user visits by incorporating those feedbacks and improving customer satisfaction which is of prime importance in highly competitive markets.

Massive investments are being made in app-based technologies because everyone has realized that mobile phone users of today prefer apps over everything else, because of their sheer convenience. So it makes sense for businesses to be where they can fight off their competition and build a better market for themselves. There are still a lot of untapped potential and opportunity which can be seized only if they make while there is still time.

Staying ahead of the curve should be the mantra, which can only be done by adapting to the changing times and adopting new technologies.