A 2017 study on the big data market worldwide showed that by the end of the year, nearly 53% of all companies had adopted big data analytics in some form to optimize business performance. The talent market too witnessed an increased demand for professionals with expertise in big data. We are the crossroads of a huge transformation exercise wherein data is the new oil. From wristbands to connected cars and automated factories, today’s enterprises deal with an enormous amount of data that they need to utilize for growth and innovation. This is true for any industry, be it financial, manufacturing, life sciences, or any other field. As the volume of data flow grows, the technology needed to manage and utilize it is in need of an innovative makeover.

The businesses of today need the next generation of custom software tools to harness the power of big data. They need to set up a technology backend that can support and supply data to multiple enterprise applications at different units in their businesses. Custom application development practices need to incorporate the changing philosophy of big data streams into their core operational procedures. Many organizations find it difficult to empower their software or technology team with knowledge on incorporating big data methodologies into their development practices. This is one of the key reasons why only 37% of companies have been successful in transforming into data-driven organizations, even though over 85% are trying to achieve this feat. So how can enterprises of today explore the power of big data using custom software development capabilities?

How to use Big Data to re-define your custom software development landscape

To answer the question, we decided to provide some tips for organizations to create valuable business results by incorporating big data into their custom software development cycle. Here are 5 ways to derive tangible business value from your investments in big data within software development.

1. Prepare for a mobile-first strategy

Over 50% of the US population owns a smartphone, and by 2020 it is expected that over 10 billion smartphones will co-exist with humans worldwide. No matter which industry you operate out of, if your customer-facing points do not have a mobile focus, then you are losing out to competition. By incorporating a big data philosophy, every custom software application that your organization builds will be able to handle data inputs from billions of mobile devices. This data can be analyzed, and insights can be used to direct content to mobile devices. And there is another scenario: if your business wants to be at the forefront of mobility, then tuning your custom software development practice to include big data concepts is a perfect way to get the heads-up on the competition.

2. Respond faster to customers

Your core business systems might already be engineered to provide support to your associates at customer facing avenues. With the velocity of requests coming in from diverse customer channels today– the internet, social media, physical POC’s, etc.– it becomes difficult for your employees to provide personalized attention to each customer. However, if your custom software development team is equipped with the skills to incorporate big data management trends within their development model, the resulting customer experience would be seamless. Ready-availability of information would help associates run the gamut of customer queries across channels simultaneously and with personalized attention. A faster response will pave the way for increased customer loyalty and will ultimately reflect positively on your business revenue.

3. Bolster automation efforts

From autonomous production facilities to automated email campaigns, enterprises worldwide are investing heavily in automating business processes. Productivity improvements, elimination of errors and biased decisions, efficiency, etc., are some of the key reasons cited. However, for each process within a business, the saga of automation can do wonders only if they are equipped to explore and manage all possible data points within them. This is where your software engineering teams need to see the bigger picture while building apps for every department. The applications need to be extensible for data flows from various sub-functions and units within teams. Only when processes and teams become data-driven will there be an opportunity to automate the process. Thus, having a big data approach in your custom software development practice will ensure that the future of automation in your business is moving in the right direction.

4. Set the tone for artificial intelligence

Just as in the case of automation, enterprises need to be data-driven if they are to incorporate transformative technology transitions like artificial intelligence. For algorithms to decide the future of customer experience, the first step is for these systems to learn about your customers and your business. This learning is facilitated by data insights that are generated by your custom software applications powering each unit of your business. Hence, by driving a culture of big data thinking within your custom software development team, the foundation for AI-enabled systems is well cemented into your base. Growing this in into future recommendation engines, conversational bots, autonomous business units, etc., will be a seamless activity.

5. Remain competitive in the digital era

This is a culmination of all that we have mentioned in the previous points. In an increasingly digital age, businesses can go down the drain in a very short time if they fail to innovate on the digital front. Data is the basic unit of every digital transformation initiative, and if your business isn’t equipped to generate and harness the power of data, then your chances of survival will be slim in the long run. This concept needs to be instilled at the grassroots level of your custom software development practice. Only if your business applications can handle the volume, veracity, and velocity of big data, will your business be able to serve the next generation of digitally savvy consumers.

Now that you know the importance of having a big data methodology in your custom software development practice, what you need to do is to start building awareness about it. Let your teams know the growing needs of the digital age and how data becomes the fundamental DNA of every business process. If your core business operations are not serving the tech industry, then it is best to have a solid technology consulting partner for your custom software development needs. Fingent software development company, we work with some of the world’s best businesses to deliver meaningful customer experiences with big data incorporated custom software development services. Talk to our experts today to learn how we can tap the hidden potential of your enterprise data.

Automatic control, which has been the foundation of automation, has been here for centuries. As far back as the 17th century, systems with automatic control devised for the regulation of steam engines, temperature control, and other applications. Automation has come a long way since then. Its application in the Health care sector that has been especially noteworthy since it has made huge strides in saving costs, labor, and lives! This blog will have an in-depth into how automation is revolutionizing the health care sector.

The Healthcare Industry – An Overview

Before we get into the role automation has played in the healthcare sector, it makes sense to have an overview of how the Healthcare Industry has been doing. Innovation and R&D in the past few decades have contributed to more effective medicines, improved diagnostic aids, and technological solutions to non-invasive procedures. These are naming just a few of the accomplishments in the healthcare industry.  

Along with the accomplishments, there have been a few challenges as well. The availability of quality and affordable healthcare for its people is an important indicator of how well a nation fares on the Human Development Index (HDI). The problem is that even developed countries are struggling to meet this need effectively. There are many reasons for this and here are a few of them.

1) Rising Expenditures

There are huge investments being made in the healthcare sector in terms of funding drug discovery and providing facilities. This often translates into enormous hospital bills, which reaches down to patients.

A Research Gate study showed that supply expense per patient admission in the US was estimated to be $4,470! The disproportionate constraint of health insurance reimbursements makes the problem worse. The growing demand for procedures requiring medical devices is a further strain on the pockets of health care providers. For example, the National Center for Health Statistics (NCHS) predicts that the number of knee replacements will expand by 673% by the year 2030. Identifying R&D opportunities for drug discovery also involves large expenses and involves several data assimilation and regulatory challenges. Large volumes of data and insights are involved, and this expends time and cost.

Balancing costs and health outcomes require an intelligent assessment by formulary committees, which takes into consideration numerous data variables.

2) Appointment Scheduling

A survey of nearly 500 healthcare professionals on the Top Challenges for Medical Practices showed that lost revenue from broken appointments was the top challenge with 49.5% respondents voting for this. Other challenges included:

• Low response to recall efforts
• Not enough staff time to call patients
• Keeping updated patient contact information
• Lack of an efficient way to reach patients via text message
• Not connecting with enough patients with a reminder phone call

3) Security

Patients entrust private information to health care providers, including social security numbers and financial details. The theft of such data could be catastrophic, to say the least. Reports show that the highest data breach resolution costs in the United States are for healthcare data breaches, which typically cost an average of $408 per record. The time taken to identify and contain a breach includes significant losses. Above all, the loss of trust and reputation with customers could deal a fatal blow to health care providers.

What is Data Automation

Automation is when manual tasks are reduced by the use of information technology. Repetitive tasks that require least human intervention benefit the most from automation. Data automation is the process when programming takes care of the assimilation, storage, and analysis of data.

Data automation usually involves:

1. Extraction: Multiple open data sources are mined for relevant information.
2. Transformation: The data is converted into a format that can be used by machines.
3. Loading: The data is then fed into the system to serve as the raw material for automation.

Big Data Automation (BDA), is a broad concept that makes use of innovation and IT resources to create value. A few aspects of Big Data automation were brought out in a whitepaper by WhereScape. The WP has Barry Devlin describing Big Data automation as follows:

In addition to reducing manual labor in the collection and analysis of data, automation can help reduce administrative workloads and improve patient care on many levels.

How Automation Is Revolutionizing Health Care Sector

Robotic Process Automation (RPA) is the next level in automation. This uses machine learning and AI to effectively handle tasks that are done manually. RPA has made huge strides in Healthcare. A Deloitte article entitled “RPA in Health Care Can Improve Outcomes for All “puts it well: ‘RPA can help health care and life sciences organizations collect and translate patient and transactional data into meaningful, actionable formats; streamline compliance-related processes; and relieve employees of some tasks they now perform.’

Blog: Automation in Healthcare: Pioneering Exceptional Care and Streamlined Efficiency

Read Now!

Here are some ways in which automation is revolutionizing the healthcare industry:

1) Solving Rising Costs

As we discussed earlier, a major cause of rising healthcare costs is the growing demand for medical devices and the innovation costs involved in drug discovery. Automation can greatly aid in this. Recently, FDA Commissioner Scott Gottlieb revealed a budget action plan, which focused on modernizing drug and device production and using innovation to minimize costs and advance public health priorities. Some of the highlights were to enlist “as many as 10 million electronic medical records to speed the regulator’s ability to address emerging safety concerns for drugs, biologics and medical devices.” This would help in fast-tracking the assessment of safety and effectiveness of the drugs and devices. The collection and analysis of data would also support drug discovery and new product functions.

2) Appointment Scheduling Solutions

Consider the savings in cost and time if tasks like scheduling appointments and reminders would be automated. Apps that automate these tasks have freed up valuable staff and resources allowing them to concentrate on patient care. Some features that these apps make possible:

• Schedule, Cancel and Book Appointments
• Email or SMS appointment notifications
• Feedback mechanism.
• Extensive Reporting to minimize cancellations and refine processes.
• Patient management through email and mobile.

3) Security Solutions

A manual error is often the cause for most security breaches. By automating data processing and sharing, healthcare companies can ensure that handling of data by humans is minimized. With the help of AI and automation, healthcare providers can enable alerts, monitoring, and prioritization of abnormal behavior. Predictive analysis, diagnosis, and recommendations can also be automated ensuring that the system continuously learns to detect and eliminate security vulnerabilities.

While we considered just three challenges and the ways in which automation is helping to resolve these challenges, there are many more. Fingent works with various clients in the healthcare sector to design customized applications to help automate their critical processes. Drop us a message to learn how we can help.

As we enter 19 years into the millennium, we find that Java has been running on 10 billion devices. The world is yet to witness innovative and user-friendly Java trends that will have a profound effect on application development in the year 2024!!

From peer-to-peer, open source and embedded to wireless and Juxtapose applications, Java has been the most popular programming language in the world of application development, with the highest rating of 16.746 percent, according to the Tiobe index!

A Retrospective Of Java Trends

Java so far has given a step-up to many of the light-weight programming platforms, as for Eclipse, Java Development Kit (JDK), the Oracle JDeveloper, as well as the Eclipse and other Open Source Applications. Let us take a look at the Java trends that made a breakthrough in application development.

• Emergence Of EE4J and MicroProfile Projects

The Eclipse Foundation has emerged with pride with the introduction of projects like EE4J and MicroProfile.

MicroProfile has provided insight into how a more open Java EE community could flourish. Both Java EE and Spring technologies benefited out of this rise, by bringing accelerated innovation.

• Emergence Of Kotlin  

Kotlin, the JVM-compatible programming language has caught the strong attention of the Java/ Android community. Its concise coding syntax and interoperability with Java have already made it a hit in the world of application development. Kotlin is first-class support for Android and is expected to additionally improve its use for mobile application development in future!

• Java SE 6 Updates And The OpenJDK 10 Release 

2018 also witnessed the updates of Java SE 6. These updates, however, are not publicly available as yet! The code restores are only available through the Java SE Support program and in Solaris 10’s Recommended Patchset Cluster and were mainly a couple of security fixes. OpenJDK 10 was released on 20 March 2018, with the adoption of certain new features.

• Ensuring Seamless Configuration Of Applications With Containers And Java Runtimes 

The Collection framework has managed to leverage more benefits of the use of containers and Java runtimes. This offers a seamless configuration of Java applications and consistent memory management.

• Frequent Alteration To Features – To Ensure A Well-Planned Application Development

Yet another major development was the introduction of a ‘six-month release’ interval.

This ensured frequent iterations and faster introduction of features to Java applications. These characteristics were decided to be made available through enterprising shops.

Technology Trends in Java – What To Expect In 2024

Java is a programing language that can run on nearly any system (Thanks to the platform-agnostic JVM!), it has started to get easier to use and scalable than ever before! Below are listed the major trends that we could predict for this and coming years.

• Java Continues To Evolve – Java SE 10 Contribution 

Java is a programming language that is used by more than 9 million developers. It contains extensive libraries that shape the whole enterprise application development. With the release of Java SE 10, which was created in close collaboration with the OpenJDK Community, came several new added features. Java is also ranked as the #1 developer choice for cloud, with over 12 million developers and over 21 billion cloud-connected Java virtual machines!!

• Real-time Specification 

The Real-time Specification for Java (RTSJ) is into existence.

Java creator, James Gosling, and Sun’s real-time guru, Greg Bollella have described embedded systems as “the new frontier in which predictable execution takes precedence” over other system attributes, such as speed, bandwidth, and payload-carrying capacity. They are promoting real-time Java applications for embedded use! With the RTSJ, they have managed to solve the language and runtime issues.

• Project Juxtapose 

Sun’s JXTA open source platform has gained ample acceptance among developers.

Using Project Juxtapose, Sun hopes to influence standards that will govern future Web services development. With this, Java developers will be able to focus their capability to contribute more for Java application development.

• The Java Effect On Scripting Languages 

Scripting languages such as Jython, which is a complete implementation of the Python language, is coded in cent percent Java. Python, Perl, and PHP to name a few other programming languages are receiving widespread attention.

• Wireless Applications With Its Ease Of Use 

Wireless application development in Java has gained noticeable traffic due to its open-source platform nature. The reason being Nokia, the world’s largest mobile telephone maker, has committed to using the open source Symbian OS for all of its future handsets!!

Both kinds of Wireless Java applications, Local and Network applications, is more challenging because they are developed on one platform (such as Solaris or MS Windows) but deployed on a totally different one (such as a cell phone or PDA). It is a concern that, while emulators enable developers to do some of their testings on the development platform, they need to test and evaluate the application in a totally different environment of a live wireless network. This is however made easy!!

• Growing demand for Java developers 

Java being a statically-typed language, it is faster and easier to maintain with fewer bugs. It is also backward compatible, which means old versions of the language will still run perfectly even after new versions are released. This is a big relief for businesses who would otherwise worry about rewriting their code every time a new version comes out. Coupled with its portability, developers know that investing in Java will pay dividends for a long, long time.

• Mobile Application Development 

In less than two years, the demand for mobile enterprise applications is estimated to rise five times faster!! Android currently dominates the smartphone market with 80.7% (compared to Apple’s 17.7%) and will continue its expansion! Java will, as a result, continue to be the driving force behind mobile application development trends!

• The IoT Era And Java

The Internet Of Things is among the latest development trends in Java! As of now, Java is currently one of the few technologies that are capable of adding life to IoT. It is indeed true that Java’s future lies in the Internet of Things.

Mike Milincovich, Eclipse Foundation strongly believes that Oracle will help to develop a definite end-to-end storage data solution!! Like the Kona Project that is currently working on Java APIs for embedded systems.

The Java ME platform allows vendors to build secure mobile enterprise applications for the Internet of Things. The language is supported by the Intel IoT platform!

With all these advanced features and development, Java continues to grow and evolve. Java has undeniably achieved the top spot among the most popular programming languages in the world!

AngularJS has come a long way since Google launched it in 2009. Today, it is one of the most widely used JavaScript frameworks. Here are some of the good reasons which make the framework so popular and powerful.

1. AngularJS Modular Architecture Makes the Framework Very Powerful

AngularJS has a Model View Controller (MVC) architecture, which is best suited to create dynamic web applications with rich content. The framework divides logic, process, and UI into separate modules, making development easy, simple, and faultless, while also improving code quality in a big way.

The modular architecture improves app architecture, and enhances flexibility and functionality, without compromising stability. It facilitates developers to create powerful workflows and achieve powerful results with little effort.

Developers working on a modular framework to create fully-responsive single page apps need to perform very few manipulations on JS and HTML, to achieve different results. It requires very few changes to ensure the page renders differently on various devices and platforms  Also, making changes means rearranging the modules rather than tweaking with the code itself, delivering better stability. Developers may also segment code parts, simplifying testing, updates, and maintenance activities as well.

2. AngularJS is Resource Rich

AngularJS is built on JavaScript and comes as a complete package, removing the complexity traditionally associated with JavaScript development. It offers everything the developer requires to get the app up and running. It is also very easy to co-opt third party libraries and packages, facilitating the presentation of data in a very appealing way.

The multiple templates, modules, and UI effects on offer, improve the all-important user experience considerably. AngularJS also offers several readymade versatile solutions, such as, UI routing approaches, which make the task of customization very easy.

Developers may extend the HTML templates by adding constructs to expand the HTML functionality, facilitating an advanced approach to manage components. In fact, it is possible to extend the HTML vocabulary by implementing features even during runtime

3. AngularJS Leverages the Power of Simplicity

AngularJS makes the development of dynamic web apps simple and easy.

It is possible to add AngularJS to an HTML page easily, using a simple coding script. App developers also need not add all the libraries when writing the code. They can add libraries later, making modifications and customizations very easy. The improved and declarative user interface allows developers to create eye-catchy user-experience across the app.

A normal application consists of more than 60 components, and the project soon turns messy. AngularJS makes it easy to manage and locate the codes for the developers.

The AngularJS code is easy to understand and easy to maintain as well. The ease and simplicity not only make development quicker, but it also means the client need not be tied to a developer who happened to develop the code initially. They can pick and choose any developer as required, depending on the specific nature of the problems they encounter midway.

4. AngularJS Facilitates Accelerated Development

Today’s developers are invariably hard-pressed for time. AngularJS is a godsend in the sense it offers a powerful tool to get the job done very quickly. The modular capabilities of AngularJS facilitate parallel development, reduce dependencies on other modules, and thereby accelerate the critical time-to-market.

The modular structure of AngularJS facilitates code reuse. Each created module remains either independent or dependent on each other, as per the developer preference, facilitating code reuse. Developers may co-opt their previously build components in a new application, sparing considerable rework. A simple copy-paste of an existing component into a new one will make all assets available automagically.

AngularJS also allows changing the behavior of the HTML tags, to create customizable and reusable tags. This not only makes the code more readable and quicker to create but also helps in developing a glitch-free web app

AngularJS also comes with real-time and in-built modules to support in-depth and functional testing for every constructed module. The modular structure means the segments and modules requiring testing may be processed distinctly, while the rest remains untouched.

5. AngularJS Taps into the Power of the Crowd

Popularity brings in its own benefits. It has ensured for AngularJS an active and vibrant community of developers, always ready to solve even the most advanced of concerns. Developers may easily tap into the power of the crowd to figure out the appropriate solution to fix pressing issues.

AngularJS is today the most popular framework to develop on-demand video streaming apps, apps with loads of dynamic features such as travel apps, weather update apps which require interactive display and real-time activities, interactive apps for user reviews and other purposes, apps with a lot of user-generated data, apps processing huge data loads, and more.  Some of the most popular interactive apps on the internet, such as LinkedIn, YouTube, Upwork.com, and others, are developed using AngularJS. Yet, the framework actually draws its strength from a very large number of small-scale developers, who find it ideally suited to their requirements.

Artificial Intelligence is revolutionizing our lives. What used to conjure up images of robots taking over the world, is now a household word. Recommendation engines are reading our minds, virtual assistants are listening to our voices, and AI insights are transforming our businesses. AI is definitely here, and this blog will show you how.

Artificial Intelligence and Its Impact on Today’s World 

Artificial Intelligence in its basic sense is defined as intelligence demonstrated by machines. In application, we can say that Artificial Intelligence is the ability of a machine to assimilate information and use it to make intelligent decisions. The attributes of problem-solving, decision making and other cognitive abilities that are associated with humans becomes artificial intelligence when applied to a machine.

The lifeblood of AI is data and its pulse run by an algorithm. Algorithms assimilate data and make sense of it through analysis. The resulting insight is what drives the decision making and problem-solving capabilities of Artificial Intelligence. Learning is by far the greatest attribute of Artificial Intelligence. The ability to learn and emulate human thinking and behavior is what makes AI nearly unstoppable. Its application in business is unmatched and is predicted to offer $15.7 trillion to the global economy by 2030!

Read more: AI Implementation For Businesses

Advanced Benefits of AI 

The benefits of AI extend to much more than recommendation engines and chatbots. The ability of AI to make sense of data collected through the Internet of Things (IoT) will be a game changer in every aspect of our lives. Gartner predicts that 20.4 billion “things” will be connected by 2020. Artificial Intelligence can analyze the data collected by IoT technology and enable it in ways that we cannot even imagine.

A classic example of this is Idemandu, one of the most talked about topic in the AI world since the 2018 Consumer Electronics Show. In the words of its founder Pooya Abka, Idemandu is the first AI agent “that can understand customers’ service needs over voice, connect them to vetted service providers instantly, and learn about their personal preferences with time.”

Demonstrating what is possible with Idemandu, a Forbes article quotes this conversation:

You: “Hey Idemandu, could you ask my massage therapist to come to my place tonight preferably after 8? I’m feeling an annoying pain in my neck.”

Idemandu: “Sure, but your therapist is not available tonight. I found another very similar therapist who is available, would you like to see him at 8 pm tonight? If not, I can book your own therapist for tomorrow at 8:30 pm.”

You: “Okay, tell him to come tonight.”

Idemandu: “Okay, he’ll be there. I already briefed him about your pain.”

Imagine the possibilities with such an AI empowered assistant in every home and business. Google Duplex is another technology that is focused on helping us make hotel reservations. The Assistant will call your chosen restaurant, converse with the concierge, make a reservation for you, confirm with you if the reservation was successful or recommend another restaurant if it wasn’t!

The ability of AI and robotics to use concepts like AI-Augmented Contextual Analytics and Sentiment Analysis to better predict and direct customer experience was brought out in one of our recent blogs. You can read it here: https://www.fingent.com/blog/how-robotics-and-ai-can-improve-customer-experience-ctos-guide

How AI Is Transforming Various Business Sectors

The biggest impact of AI in business development. A survey conducted at the EmTech Digital conference revealed that respondents saw AI affecting these top three business outcomes:

1. improve and/or develop new products and services
2. achieve cost efficiencies and streamline business operations
3. accelerate decision-making

We can see this impact in nearly every sector in business. Here are three sectors where the impact of AI has been seen the most:  

Healthcare 

86% of healthcare provider organizations, life science companies, and health technology vendors are using AI technology, says a 2016 report from CB Insights. These organizations are projected to spend an average of $54 million on AI projects by 2020. Few areas where AI is being used in healthcare are:

1) Data management – Medical records and other patient data can be accurately analyzed, stored and used to provide healthcare businesses with the right information at the right time. Time-intensive report analyses can be automated, diagnosis can be fast-tracked, and treatment can be better administered.

2) Virtual Consultation and Care – Healthcare apps using AI allow doctors, patients and, caregivers to communicate and coordinate effectively.  Speech recognition, machine perception, and other AI enabled technologies, help to monitor the patient’s condition and administer effective treatment.   

3) Precision Medicine and Drug Discovery – By screening complex compounds and existing medicines for specific attributes, drug candidates for pre-clinical drug discovery and development can be rapidly identified. AI can also help detect diseases and predict hereditary health issues more accurately and help design precision medicines for specific genetic make-ups.

For more applications of AI in the healthcare industry: https://www.fingent.com/blog/5-ways-big-data-is-changing-the-healthcare-industry

Finance

The assimilation and analysis of financial data is where AI shows its true potential, but there is much more that AI can do in the financial sector. AI in the Finance industry reduces costs, saves time and improves accuracy and efficiency in all areas of Finance. Here are a few applications:

1. Security from Fraud – Security is the number one concern in the financial sector. AI helps in this by simulating fraud and cybercrime scenarios and coming up with preemptive security measures to combat security breaches. AI also helps in monitoring whether all security measures and regulations are being followed in the design of financial technology.
2. Wealth Management – AI engines help analyze data associated with wealth management and provide insights on how to provide optimal benefits to clients. Creating personalized and tax-optimized investment offerings for clients becomes much simpler and accurate with the help of AI. AI also helps mitigate the unpredictability of the stock market, by incorporating features like blockchains and distributed ledgers.
3. Digital Assistants – AI now assists with banking transactions and finance in nearly every household. AI assistants like Alexa, Siri and others are used to make financial transactions. Voice assisted banking is being made possible with banks like Barclays coming up with technology to enable money transfer through voice assistance software.

Read more about how predictive algorithms and AI will rule financial services:  https://www.fingent.com/blog/how-predictive-algorithms-and-ai-will-rule-financial-services 

Transportation 

AI is being used widely in the transportation sector and these are a few areas where it is making an impact:

1. Automation – While driverless cars are what comes to mind when we talk about AI and automation, the role of AI in automobile manufacturing is of equal import. Tesla’s automated manufacturing systems in its factories is an excellent example of the capabilities of AI in automobile manufacturing.
2. Cloud based conveniences – With the help of AI and cloud computing, automobiles are being packed with features like suggestions for gas stations when the fuel is low, favorite restaurants on the route and shopping reminders when approaching stores.
3. Intelligent Maintenance – Features like predictive maintenance, repair scheduling, and even sensors to detect medical emergencies for drivers can be enabled with AI.

Read more about how connected transportation will disrupt the world: https://www.fingent.com/blog/how-connected-transportation-will-disrupt-the-world

Keeping up with AI 

As you can see, the implications for AI in business is tremendous. It is important that businesses capitalize on AI-based technologies to keep up with the competition. Fingent has helped businesses from every sector to implement AI and drive revenue. Drop us a message if you have any questions!

The need to be “smart” is no more an option for businesses. Keeping up with the competition has never been harder nor has the pace of technology ever been faster than it is today. Hence, the question that arises is this: Is there a need to switch to smart product ordering systems? Won’t existing systems do the job just as well?

These are some reasonable questions for businesses to ask today and this blog will help you answer them.

Why Change?

Getting right to the point, let’s consider what has changed in the retail space that necessitates a change to smart product ordering systems. Rising demands from the empowered digital customer, the need for personalization, customized products and value-based experience, increased customer base and emerging markets, changing trends and consumption patterns – all these factors demand an ordering system that is technology-driven and agile.

Oracle Corporation and Capgemini recently conducted a study of 589 top supply chain executives in connection with the order fulfillment process. The study surmises that “order fulfillment processes are, in fact, becoming more intricate and that inventory management and delivery performance is slipping.” This has steep consequences as the report continues: “Customer satisfaction and retention are put at risk and businesses are forced to allocate additional spending on resources and labor to address the situation. This, coupled with the rising price of raw materials and mounting transportation costs, are seen as a growing threat to the bottom line of businesses everywhere.”

The writing is on the wall. Smart product ordering systems are vital to the survival of businesses. There is no getting around it. Though this is the verdict, it is a big decision with a significant impact on your processes, employees and your business. This calls for a deep-dive into what these smart product ordering systems are, the benefits and the impact it has on retailers and wholesalers like you. Let’s walk you through it.

What are Smart Product Ordering Systems

An order management system (OMS) is the backbone of a retail operation. It orchestrates the complete process right from processing customer orders, to fulfillment and shipping. This involves tracking the status of the order at all points and seamlessly connecting the information to the relevant systems and resources in the organization. While this is the function of a traditional OMS, a smart product ordering system does more, much more.

A smart product ordering system is intelligent and empowers your order management with the power of automated technology. Here is listing a few benefits to retailers and wholesalers:

• Organizes and streamlines the order fulfillment process 

A smart product ordering system will create a unified system for all your data and processes. Having information on inventory levels, orders, sales forecasts and analytics continuously updated in one centralized location would help you make intelligent and instant decisions in real time. This streamlines the entire process giving you the ability to strategize better and never miss a beat on the pulse of your business.

• Fulfilling an Omnichannel Demand

Retailers and wholesalers have the power of multiple shopping platforms at their disposal. While this incrementally improves visibility and sales, it also requires a much more intelligent omnichannel order management system to handle these orders. A smart product ordering system helps you find the best way to fulfill your orders by evaluating all these channels and supply sources. By synchronizing information on warehouse and store locations, shipment costs and inventory details, the system automates sourcing and allocation decisions without the need for constant manual intervention.

• Insights and analytics

Powered by Artificial Intelligence, the opportunities for a smart product ordering system is endless. With insights on customer behavior and analysis of historical data, businesses will have the ability to gauge buying and purchase decision patterns, channel preferences, inventory planning, marketing campaigns, staffing, and every aspect of their business.

• Consistent Customer Experience

Today’s consumers expect a completely unified experience. They look for consistency in their shopping experience with no room for a slip in the product, price, service, delivery and after-sales support. This becomes further complicated when catering to an omnichannel demand. Accenture’s KMI Insights To Conquer The-Omni Channel Imperative report says that “what leaders are getting right is not single-threaded. They are creating experiences that are truly centered on the customer, and they are thoughtfully connecting the dots across their organization from product to people to process to platforms in order to delight their customers and their employees.”

This is what customers expect. They want a seamless experience in all touch points. However, with “buy online, pick up in store” and other options available in an omnichannel business, it is becoming increasingly difficult to “connect the dots.” A smart product ordering system takes the complexity out of the process by fully automating order fulfillment. From ensuring that the product is personalized and available where the customer wants it, to streamlining the order shipment and delivery process, the customer experience is enhanced by the intelligent product ordering system.

Read: How product ordering system integration with CRM helps in purchasing?

The Possibilities

Think about what a smart product ordering system can practically do for the customer experience and your business.

1. Shopping enhanced – a smart product ordering system will provide insight into the buying patterns of your customers and enable a personalized shopping experience. Your inventory numbers are clearly reflected in your product catalog. This way, customers aren’t left dissatisfied with a lack of products after they purchase them online. The system will also be able to capture the point of exit, abandoned cart items and search history to enable an effective conversion. Automation of order entry inputs through Smart OCRs enables Intelligent Indexing, training the system to find the shipping address and other information automatically for the next purchase.
2. Processing made easy – By synchronizing the order information with your inventory and shipping process automatically, the smart product ordering system ensures intelligent sourcing and allocation. By simultaneously syncing these details with your sales and marketing functions, the system enables accurate sales forecasting and effective marketing insights for the future.
3. Payment in a click– Integrations with billing and accounting systems ensure that the checkout process is seamless. A smart product ordering system will be able to recall customer details and enable quick payment verification thereby reducing the time to check out and enhancing customer experience.
4. Shipping and Delivery streamlined – By optimizing sourcing and allocation, and automatically updating shipping and delivery partners with the order details, a smart product system will make sure there are no glitches in delivery.

Imagine how organized your business could be if you had the right smart product ordering system. And yet many retailers and wholesalers do not have the capabilities to make this happen. According to the Capgemini study mentioned at the outset, 38% of respondents said that the company lacked the software capabilities to handle multi-channel orders. 34% said that they lacked the software integration needed to fulfill orders across channels.

This is where we can help you. Fingent works with retailers and wholesalers to equip their business with the software solutions to ensure seamless order fulfillment and customer experience. Let us know if you have any questions and we would be happy to help.

Custom Software Development Vs Packaged Software – Tips to select the right solution for your business

Custom software and off-the-shelf solutions come with their own pros and cons. Organizations should assess their requirements closely and opt for one that suits their workflows and processes.

In this video, Dileep Jacob, Head of Operations at Fingent shares his insights on helping businesses choose between off-the-shelf and custom software offerings. He elucidates on how custom software and off-the-shelf solutions bring efficiency improvements within an organization. The benefits and limitations of the two platforms are dealt with to help pick the best choice for your business.

Conclusion

What Machine Learning is and why it is important in business

Given the increasing prevalence of data today, machine learning has evolved rapidly to advance computing a step forward. Enabling computers to automatically learn and improve performance using data, ML is viewed as a disruptive technology with the potential to transform areas like enterprise, manufacturing, healthcare, e-commerce etc. Global ML adoption rates points to huge investments and diverse use cases in the coming years making it one key technology to focus your efforts.

This infographic focuses on the essentials of machine learning together with how it helps in uncovering insights from huge data stacks. Besides, its applications, global adoption rates, and future developments are also dealt with to give you a basic understanding of machine learning so that it can be put to use for uplifting your business processes and operations.

Deploying proper machine learning systems can uplift your business and maximize the ROI. Get in touch with us today to discover and implement the right machine learning solution that will transform your business altogether.

So, You– one of the key decision makers of your company, have a cool idea, a plan or a requirement for a software application, a mobile application for your business, a website, or need to automate an ineffective business process. You might have an overview of what you need, but can’t do it yourself, or you don’t know any good connections doing the job.

What would you do?

How will you choose that perfect custom software development company which can provide the best solutions among the millions of other custom software development firms out there? I am sure that you know there is a lot of difference between finding a software firm and finding the best software development company for your requirements.
The majority of the established firms out there are masters of their art providing excellent solutions and service. They are all well-experienced in creating software or applications from scratch to enterprise levels. Most of these have spent a considerable period in the industry, know the trends and are constantly striving in a market that is highly competitive and advancing day by day. So, how do you select that one provider from these many experts out there in the market? It’s indeed a very tricky job and should be done with caution. However, you will find great use of the points given below to select your right software outsourcing partner.

 Identify your Needs

How can you choose the best when you don’t know what you want? Identify your business needs properly, talk to your employees, evaluate the problems and analyze the solution. Form an outline of the solution you want to meet the objectives. Depending on the nature of your project, the requirements and reputation choose offshore or onshore providers.

 Check the Company’s Technical Skills and Expertise

Gather information about the company – the skill , knowledge of the team members and their portfolio working in the latest technologies in similar domain as yours, company’s experience handling projects in the particular niche/ domain, company’s skill in decoding your requirements into apt solution, the communication effectiveness, adherence to deadlines, and the like. Look for teams providing direct access to developers who can communicate well with you. Software houses with teams experienced in agile or hybrid agile methodologies are always better choices. Have casual getting to know each other kind of chats, but gather solid information in the course of your interaction, that clearly showcases their efficiency in previous works.

 Check their Reputation with Others

Of course, you want to partner with the best custom software development company, but would you go for a company that is not polite and nice to work with? How scalable are their solutions? Know the company’s flexibility to get on with different atmospheres by looking at their client base and client relationship history. Check the clients’ and customers’ testimonials/reviews on platforms like Clutch, GoodFirms, etc. or connect with one of their clients through social media channels to know their opinion about the company, talk to real people via online forums, discussions and other social media to know their opinion, direct or indirect experience with this company. Doing these will sometimes leave you confused with overwhelming responses from different people, nevertheless, take an average of pros and cons and decide what cons can you overlook for better pros of the company that aligns with your requirements.

The Budget

Cost is always as important as the company’s expertise. Determine whether the cost of the project falls in your budget. Unless confident on the guaranteed ROIs, you don’t want to go bankrupt buying an over expensive software that automates parts of your business. That said, you don’t have to compromise on the quality of the software for low costs either. Certain companies price their solutions for the sheer fact of overcharging to seem like a bigger and better company. Do not forget to look for hidden or additional costs in the contract, like additional fees for documents management, annual setup/ maintenance in addition to monthly support charges, in-person training, etc.

Support your Core Business Functions with Efficient KPO Solutions.

 Size of your Software Project

Is your project small, medium, large or huge? Not all companies undertake any size of custom software development projects. Certain software development companies commit only to big fishes, providing them giant, multi-year, million dollar projects. These are usually famous brands and industry experts. Whereas many smart small to medium size companies take multi-year projects. Such companies’ growth curve over a small period of time shall showcase their competency and potential. Has the company been growing fast or diminishing in size or stagnant over this period?

 How Passionate are they to Develop the Solution

The company to which you outsource must understand your requirement in a way you understand and aspire to. Are they as passionate as you about this project? Are they completely dedicated to making a quality product or are they just doing a duty for money they take? These are evident from the way they suggest added features which can be included, future scopes for the product, or deny with an idea that is not quite useful. However, make sure they back their opinion with proper facts and reasons that convince you about their dedication and is not just to ‘make the task easy’ for them.

 What happens in the Case of Divorce?

Jon Lincoln, business development specialist at Etfile says that, “Some vendors try shady tactics by holding your data hostage (as if they own it!) or charge an exorbitant amount to sway you from leaving”. Get proper agreement on safety and security issues and how you get your data back in case you leave the vendor. Expect some charges especially if the data was encrypted, but it shouldn’t make you bankrupt in any case.

Quality of After- Sale Support and Services:

Even the most perfect solutions guarantee only 99.9999% up-time. Unfortunately, there are no 100% perfect solutions. Even though too small, there is always a fraction of the chance that things might go wrong after delivery, especially in the case of software. So make sure your vendor company provides direct access to the technical team and offer good support, maintenance, cloud-based updates and upgrades and troubleshooting services for a fair period of time after sales.

Evaluate your Software Package Now!

 Take a Test Drive

Most companies these days provide a free trial to ensure the quality of the features, benefits, and usability. Ensure that the software meets your requirements, have necessary features and functionality. During the trial, feel free to ask your vendor all the questions and doubts you may have.
Your first stepping stone to establishing your goal is choosing the right custom software development company. A fault here might lead to devastating results. So, take no chance, do thorough research and study based on the factors mentioned above. Based on our experience developing and deploying custom software for a wide range of industries and organizations of varying sizes, we believe that the Best Company is that which deliver a solution blending with your business process to the highest degree, within the stipulated cost and time and without a compromise on quality!

This month we are covering how creating and fostering mobile-driven digital ecosystem help grow your customer base and provide services effectively. We will also be discussing how zero code platforms ease the pain of mobile app development. Lastly, we cover what happens when Machine Learning meets the business world.

Zero-Code Platforms Ease the Pain of Mobile App Development | Business.com

Enterprises find themselves plagued with issues like apps not performing as expected, apps scoring low on user experience and more. But with the benefits of zero-code being obvious to more and more businesses, more platforms are on its way to becoming mainstream.

Where Do You Fit in the Mobile-Core Digital Ecosystem?| Clutch

With the global proliferation of mobile users, enterprises must now focus on mobile-centric solutions. Such a rapid increase in global mobile usage points to a paradigm shift in the future of digital communications.

Mobile devices now act as the medium for facilitating all kinds of communications and services within an ecosystem. In addition, their improved connectivity options and versatility makes them ideal for all kinds of digital ecosystems.

When Machine Learning Meets the Business World| DZone

Let’s discover what happens when Machine Learning meets the business world. Take a look at how it will transform businesses as well as how it will minimize risks.