‘There is success through many advisers.’ This ancient proverb has proved not just true but very effective and powerful in this digital age. This is precisely what Open-Source Software (OSS) accomplishes. It allows for collaborative development where the community can modify and enhance the source code.

Open-source systems can help businesses adapt quickly to changing circumstances and facilitates controlled upgrades. Integration and maintenance become less of a hurdle. With the wide range of OSS possibilities, businesses are wise to tap into this huge potential for building a robust, secure, and yet, cost-effective infrastructure.

This blog will help you gain an in-depth understanding of how open-source can power your digital transformation journey!

How Open-Source Software Powers Digital Transformation

Vendors today provide various software solutions indispensable to a business’s software strategy. But finding the right software solution that caters closely to an organization’s needs has always been challenging! Meanwhile, OSS helps businesses build and maintain their IT ecosystem and enables sourcing highly creative developers with hard-to-locate skills. Engaging with domain experts and making their contribution to the OSS bank helps developers find satisfaction and boosts creativity. Judicious use of OSS can be of great benefit to any business.

Most IT leaders believe that OSS is either “very important” or “extremely important” to the enterprise software strategy. How do we know that? In 2021, developers downloaded over 2.2 trillion open-source packages. That is a 73% increase.

Read more: How to Ensure Safe Use of Open Source Libraries

Here are more reasons to justify this statement!

1. OSS Can Serve as A Ramp to The Future

Irrespective of whether you are a small business with limited resources or an established enterprise with an established IT ecosystem, open-source software’s ability to supply code that can be easily changed and customized to your specific needs is invaluable. Many businesses are turning to AI and blockchain to better understand customer needs and work towards fulfilling them. Open-source code can not only hasten the process but also ensure efficiency.

AI, ML, and AR/VR could feel like the proverbial butterfly always out of reach, and more so if your business does not have a well-established IT team. OSS can then serve as your ramp to the future. Your vendor or coder could build on the resources available to ramp up your IT capabilities and reach your desired situation.

2. OSS Can Be a Beacon for Talent

OSS provides coders and developers with access to code written by experts or extremely creative pioneers. This would be an immersive learning exercise. At the same time, experienced engineers could interact with others in their community, freshening their skills while keeping up with the latest in the IT industry. This exposure would, in turn, influence their recruiting and training activities.

The OSS is also a repository of “glueware.” It allows software engineers to create things outside their immediate area of expertise. While it requires ingenuity and skill to glue parts together to make a whole system, OSS provides not just the individual parts and the “glue” required to fix them. It is a new method of looking at the design, resulting in greater satisfaction and a sense of accomplishment.

3. OSS Can Build Engineering Discipline

Open-source projects have very clear frameworks. There is structure and good practices such as separation of concerns, abstraction, and isolation. A business of any size would benefit from following the same discipline in setting up its systems.

Maintaining clear standards of operability ad interoperability is another advantage. Using OSS ensures that the same standards are followed. Businesses do not have to invent standards and frameworks but can build on the foundation provided by OSS.

4. OSS Can Improve Your “Ilities”

Scalability, availability, and reliability – are just a few of the many aspects that OSS can help improve. Utility to ensure efficiency and avoid duplicating work can also be added to the list. Developers or vendors would likely prefer importing sections from a tried and tested OSS repository than building from scratch.

Read more: Artificial intelligence and Machine Learning For Faster and Accurate Project Cost Estimation

Dimensions of Open-Source Software 

OSS boosts the digital transformation of businesses. It is good for businesses that lack the resources to meet the needs of IT development. OSS can yield different variations by its modularity. Consider a few pros and cons of OSS:

• Price: The price is very low to zero. However, one must consider the need for support, customization, and hosting while considering the cost of using OSS.
• Source Code: Full access to the source code helps developers evaluate the quality of the software and customize it to the needs of the business.
• Functionality: While individual systems from the OSS may be limited, they can be easily ramped up to serve all business needs.
• Modularity: OSS is modular. Hence it prompts the engagement of several experts in building a specific IT system.
• Development: OSS code is developed worldwide by motivated developers from a wide range of roles and functions.
• Distribution: OSS code is distributed over the internet, which is fast, efficient, and cost-effective.
• Licensing: A range of OSS licenses specify how the code can be used, modified, or redistributed. However, certain restrictive licenses only support the limited use of the OSS code.
• Monetization: Offering support services to help integrate the system, train users, and fix bugs is one way to monetize OSS. Offering to work out the deployment of OSS systems and taking care of backups, upgrades, and downtime is another way to monetize OSS.

Is Customization A Smarter Choice With Open Source?

Remember that OSS is another tool best suited for certain tasks and not so well suited for others. OSS might not be the best choice for your strategic activities or initiatives contrary to your cultural norms. Certain projects on OSS might have too high a level of uncertainty or too little support.

This does not mean that OSS should be put out of the picture. Do you need to adapt quickly to the fast-paced development in certain domains? Do you need greater effectiveness in attracting and retaining talent? Do you need a solution that requires utility, quality, and speed? OSS can help you in all these scenarios.

Read more: Odoo Migration: Why Is It Crucial and How to Do It Seamlessly!

How Can Fingent Help?

Fingent can leverage open-source technology to quickly develop your customized, dynamic business application. Our experts use PHP, AngularJS, jQuery, Magento, and several other open-source technologies to develop, implement and support a wide range of open-source technologies and resources. Our extensive experience working with open-source tools helps ensure that we can provide our clients with customized, innovative solutions quickly and efficiently without compromising on quality.

Intrigued to learn more about how we can help you develop and leverage the best business software solutions with open source. Connect with our experts now!

Machine learning is changing the face of everyday life, science, and business. It is revolutionizing all industries, from advancing medicine to powering various cutting-edge technologies. Though Machine learning (ML) was a part of AI’s evolution until the 1970s, it evolved independently. It has become a chief response tool for cloud computing and eCommerce.

The goal of machine learning in business is to adapt to new data independently and make decisions and recommendations based on thousands of analyses. Machine learning enables systems to learn, identify patterns and make informed decisions with minimal human intervention.

Today, ML is a necessary aspect of modern business. It uses algorithms and neural network models to improve the performance of computer systems. Machine learning in business and manufacturing is enabling organizations to achieve notable strides. These strides include increased performance and efficiencies, improved processes, and enhanced security.

This article will discuss the benefits of machine learning in business and its use cases.

Remarkable Benefits of Machine Learning for Businesses 

According to Fortune Business Insights, the global market size for machine learning in business is expected to grow to USD 209.91 billion by 2029, exhibiting a CAGR of 38.8% during the forecast period. ML has been and continues to scale operations tremendously. Across industries, ML has led to a boom in affordable data storage and faster and more reliable computational processing.

Here are six remarkable benefits of machine learning in business:

1. Automation for better decision-making 

Most businesses find themselves wasting precious time sorting through duplicate and inaccurate data. Such businesses benefit from using the predictive modeling algorithms of ML in their processes. Such a process will understand duplicate inaccurate data and distinguish the anomalies. It enables the organization to avoid inaccurate reporting that can result in poor customer retention.

Instead, this will allow businesses to use their accurate database to detect wasted costs, missed opportunities for sales, and revenue capital. In addition, organizations can overcome challenges and risks that arise due to miscommunication or poor performance metrics. Thus, businesses can streamline their operations and improve decision-making which could be translated into better ROI.

2. Increased scalability with minimum expense

Semi-supervised machine learning algorithms can help organizations leverage useful insights from customer profiles and enable them to view their brands from customers’ perspectives. Doing so will equip organizations with relevant insights to build their brand by improving their products and services.

3. Predictive maintenance

Predictive maintenance that ML aids manufacturing firms’ power to follow best practices that lead to efficient and cost-effective operations. The historical and real-time data predict problems and stipulate strategies to solve those problems. Plus, workflow visualization tools can eliminate issues and unwanted expenses incurred due to those issues.

4. Financial analysis

ML can greatly assist as it gathers and analyzes large volumes of quantitative and accurate historical data. It is used for portfolio management, loan underwriting, fraud detection, and more.

5. Personalization 

Using machine learning in business will allow organizations to know their customers better and provide them with a more personalized customer experience. Organizations no longer need to rely on guesswork because ML models can process different types of information collected from numerous sources and provide relevant data about their customers.

6. Cybersecurity

ML technologies can improve cybersecurity to solve cyberattacks once and for all. Empowered by ML, intelligent security programs can gather and process data about cyber threats and respond to them in real time. ML models can detect the slightest deviations in patterns and flag them. Or destroy an attack in its nascent stage.

Read more: Can Machine Learning Predict And Prevent Fraudsters?

Top Use Cases

Machine Language has made its mark across industries and found a place in many different applications. Here are some top use cases:

1. Enhanced social media features 

Businesses can use machine learning algorithms to create attractive and effective social media features. For example, ML algorithms in Facebook enable it to identify and record a person’s activities. These activities include records of chats and the amount of time that person spends on each post. It uses this data to determine what kind of friends and topics may interest that person and accordingly make suggestions.

Read more: Why Time Series Forecasting Is A Crucial Part Of Machine Learning

2. Product recommendation

Product recommendation is an advanced application of machine learning techniques. It has been the most popular application of almost every eCommerce website today. This technique allows websites to track a consumer’s behavior based on their previous purchases, search patterns, and cart history. It enables the website to make apt product recommendations to that consumer.

3. Recognition

Image recognition is one of the most significant and notable ML and AI techniques. It is adopted further for pattern recognition, face detection, and face recognition.

4. Sentiment analysis

Sentiment analysis is a real-time ML application. It determines the emotion or opinion of the speaker or the writer. For example, a sentiment analyzer can detect the thought and tone of a written review or an email. It can analyze the review-based website, decision-making applications, and more.

5. Access control

Most large businesses are actively implementing ML models to determine the level of access an employee should be granted. This application of machine learning can ensure the security of the organization.

6. Bank Domain

Banks are using ML to prevent fraud and protect accounts from hackers. Machine learning algorithms determine what factors to consider in creating a filter to prevent an attack.

Read more: Machine Learning – Deciphering the most Disruptive Innovation

How Fingent Can Help with Deploying the Best of ML

Leveraging the capabilities of machine learning in business can open the door to many opportunities. It is wise for any organization to take advantage of ML rather than lag behind competitors. However, we understand if you have questions. That’s why Fingent software development experts are here to help you. We can deploy the best machine-learning models efficiently and smoothly.

As a partner, Fingent can work with your team as you take on digital initiatives for sustainable business growth. We enable our clients to make data-driven decisions by efficiently deploying machine learning in business. Our cost-effective services will save you a considerable amount of time and money.

Furthermore, we do not follow a one-size-fits-all strategy. We provide custom software development services that cater to your needs. Therefore, look no further if you are looking for a reliable, efficient IT partner to deploy the best machine-learning models.

Contact our experts today!

Manufacturing has long been a driver of global prosperity and economic growth. We all see astounding growth as the manufacturing industry evolves and keeps up with changing consumer needs.

This has led industry leaders to shift their focus from traditional to smart factory technology. A smart factory offers many benefits to operators, managers, and executives of companies in this industry. And yet, a few companies hesitate to start their journey the ‘smart way.’ If you are one of those companies, this article will help you with details and show you how a smart factory can bring its business operations and customer satisfaction to a new level.

Let us begin by understanding what a smart factory is.

What Is a Smart Factory?

Take a manufacturing facility and completely digitize it – that is what a smart factory is. The smart factory is a digitized manufacturing facility that uses digitized manufacturing methods, devices, and systems to continuously collect and share data. This data is used to make informed decisions that improve processes and address manufacturing challenges. The smart factory is a new industrial revolution phase focusing on real-time data, connectivity, automation, and Machine Language.

A smart factory uses the best digital and physical worlds to monitor the entire production line, from supply chain management to manufacturing tools. It can even monitor the work of an individual operator on the factory floor.

Why Is It Smart to Embrace the Smart Factory Movement?

According to a press release by Marketsandmarket, the smart manufacturing market was projected to reach USD 228.2 billion by 2027. It is expected to grow at a CAGR of 18.5% from 2022 to 2027. Then, most businesses consider smart factories highly beneficial and crucial across industries and sectors. Here are some of those significant benefits:

• Measure key performance indicators: A smart factory provides managers with automated data that is accurate. This data gives them the ability to measure key performance indicators more efficiently.
• Think ahead better and faster: Smarter predictive maintenance allows managers to predict and resolve maintenance issues better and faster.
• Efficient demand management: It can forecast more accurately and thus reduce waste enabling efficient demand management.
• Boosted productivity:  Managers boost productivity as it can provide seamless data on machine maintenance and potential bottlenecks.

Read more: A Look Into The Future Of Manufacturing Industry: The Challenges, The Opportunities, and The Technologies That Will Help Revolutionize

Key Elements of a Smart Factory

There are a few elements that make the smart factory what it is. Understanding these elements will help you see how it fits into your business.

1. Robotics

Robotics is a crucial element of a smart factory. Robotics enables smart material handling and adaptive operations. Besides, robots come with flexible infrastructure that can scale depending on business needs.

2. Big data and IoT

The Smart factory provides augmented access to large amounts of data obtained through the cloud and connected devices. This can empower manufacturers to identify patterns and insights, thus enabling them to make more informed decisions to optimize operations and improve productivity in the long run.

3. Cloud-based management

Cloud-based management includes a suite of professional software architecture that can be developed to empower highly efficient business operations. This can offer market reactivity and scalability. It can also provide real-time visibility into a business’s inventory and manage supply chain operations from the manufacturing to the end customer.

4. Virtual reality

Manufacturers have been using virtual reality for some time now. It uses computer-generated visuals that help improve the experience of the user. It trains engineers to handle complex virtual processes, maintenance systems, and troubleshooting.

5. Cybersecurity

Smart factories tend to increase cyber security threats. Thankfully, smart factory technologies are equipped to streamline cyber threats. For example, AI-powered bots act as guards 24/7, ensuring data security.

6. Additive manufacturing

Additive manufacturing is used for rapid prototyping, on-site manufacturing, and more. It saves time and costs spent on production and tool replacements. Quick reproduction, reconfiguration, and validation can also enable reverse engineering.

Read more: ERP Systems for Manufacturing: How it Improves Business Process

A Look into The Future of Smart Factories

Manufacturers that leverage smart factory technologies will unlock game-changing flexibility and agility. Emerging imperatives for the manufacturing industry include supply chain resilience, enhanced productivity, flexibility, and sustainability. In simple terms, only those manufacturing systems that enable a demand-driven and dynamically optimized value chain will survive and thrive.

1. Increasing demands

In the coming years, factories will face more stringent regulatory and compliance requirements ever. Such demands also merge with global trends toward adopting digitization. Given their ability to drive exponential productivity and sustainability benefits, digital technologies are at the heart of these changes.

2. Automation and beyond

Across the world, manufacturers began their digital transformation with automation to minimize manual operations and maximize output. But technological advances are enabling manufacturers to empower operators to understand operational data. Furthermore, newer platforms and integration technologies are driving down the cost of digital transformation.

3. Transformational gains

By implementing an integrated automation system, manufacturers can accelerate their sustainable manufacturing vision. Driven by the unrelenting need for agility and resilience, manufacturers can empower their workforce by adopting smart factories. By building future smart factories, they can unlock value benefits for all stakeholders along the way.

Creating a Smarter Future for Manufacturing with Fingent!

A smart factory is a direct way for manufacturers to excel in a competitive and dynamic marketplace. Partnering with the right app development company could mean make or break for you. Manufacturers need the right partner to help them implement solutions correctly. Fingent has been a consulting partner to several manufacturing companies and proved its mettle. Have a look at our Case Studies:

With the right partner, upgrading a traditional factory to a smart factory is much simpler than most imagine. Fingent builds custom solutions to integrate factories with smart solutions. Through our experience, we have already helped many businesses transform their traditional factories into smart factories.

Our experts at Fingent can help retrofit most existing manufacturing equipment and set up a centralized hub that can receive data from all the sensors. A cloud service could be set up to monitor and analyze from offsite. What is more, these solutions are upgradeable.

This allows established factories to upgrade at their own pace while keeping the upgrade cost low. Do you have a traditional factory that needs to become smart? Contact Fingent today!

The ongoing digital revolution is forever reshaping how businesses interact with their customers.

Modern technologies such as artificial intelligence, chatbots, machine learning software, and other solutions have allowed businesses to break away from traditional phone-based support models in favor of an omnichannel approach.

Countless businesses now allow customers to connect with support agents across multiple mediums, such as email, messenger applications, SMS, and on-site chat apps. However, far too many are still neglecting a core component of the service experience — self-service.

Whether your organization operates within the business-to-consumer (B2C) space or the business-to-business (B2B) space, you must offer customers self-service

options. We explore the role that self-service plays in the modern support experience.

When businesses understand the benefits of offering self-service, which technologies enable them to provide this type of support, and how to leverage ambitious custom software development services, it is easy to transform the high-value customer support vision into a reality.

Read more: Why Your Business Needs a Customized Order Management System

Why Customer Self-Service Experiences are Invaluable in the Digital Age

Consumer expectations are evolving as technology becomes increasingly ingrained in our daily lives. Smartphones allow consumers to access virtually limitless information on a whim.

When most individuals encounter a problem or want to acquire new information, they typically break out their smartphones, conduct a quick internet search, and select the most relevant results.

“How does this apply to customer service?” you ask. Simply, consumers have become much more self-reliant when encountering an issue with a product or service. The majority of your customers would much rather troubleshoot a product independently without having to

connect with a service agent. It’s also true when they want to purchase products or services.

Therefore, your organization must offer self-service support options if you want to meet the expectations of current consumers. By doing so, you can mitigate consumer frustration, expedite the resolution process, and demonstrate that your company is responsive to the needs and wants of your target audience.

That said, creating a self-service experience on your website can be a challenging and tedious process. That is why many companies turn to experienced digital transformation companies when they need a custom technology solution.

What Technologies Facilitate Self-Service?

When businesses partner with a software development team to provide custom services, a broad range of technologies is available that provide clients with a competitive advantage. Some of these technologies include:

1. Artificial Intelligence

Artificial Intelligence technologies are essential for creating dynamic self-service experiences. Without these technologies, self-service tools would be rigid and provide minimal assistance to your clients. Fortunately, AI allows developers to create innovative solutions unlike any off-the-shelf option.

2. Machine Learning

When used in conjunction with AI, machine learning software offers an immersive self-service experience. Over time, machine learning technologies can provide curated assistance based on past interactions with customers.

3. Chatbots

While chatbot technology is often used for lead generation, it can also be deployed to enhance the self-service experience. For instance, a consumer could provide information about their problem to a chatbot, and the program could connect them with resources to resolve the issue.

This approach will prevent the consumer from searching through your support page or reading your entire FAQs section to find the necessary information.

Read more: Prepare for the Future of Digital Innovation with these 10 Services From Fingent!

Top Ways Self-Service Enhances Customer Experiences

Self-service is rapidly becoming one of the most popular methods of customer support, and for a good reason. Reliable self-service enhances great customer experience in several distinct ways.

1. Reduces the Workload on Staff

If service tools handled even 20% of your customer support requests, then your staff would experience a significant decrease in their daily workload. Naturally, a lighter workload would improve morale and employee retention. Ultimately, this will reduce your hiring and recruiting costs.

In addition, reducing the workload on your staff directly impacts the quality of service they can provide your customers. Your team will have more time to devote to your customers because they will not be in a rush to handle the next service call.

2. Empowers Customers

They feel empowered when you provide customers and clients with user-friendly self-service options. They are no longer at the mercy of your support staff and can freely take matters into their own hands to resolve frustrating product issues.

Self-service can also minimize any product issue’s negative impact on brand loyalty. If a consumer experience only minor inconveniences when a problem occurs, they will be more willing to continue doing business with your company.

3. Reduces Costs

Performing support tasks manually is labor-intensive and time-consuming. As a result, you must maintain a fully-staffed support center to handle incoming customer service requests. The overhead associated with this can be excessive.

While self-service solutions will not eliminate the need to employ support staff, you can reduce the size of your support department. Each team member can work more efficiently and focus on handling complex product issues. Self-service will address the majority of minor problems.

4. Expedites the Delivery of Service

Few things negatively impact a customer’s brand perception than excessive hold times. By partnering with software development experts to deploy self-service solutions, you can significantly reduce wait times and expedite support delivery to your clients.

This approach will boost customer satisfaction and optimize the average lifetime value of each client.

How a Software Development Partner Can Help

When you partner with an innovative team of cloud-native software development professionals, you can expect cutting-edge solutions that leverage the latest self-service technologies.

In addition to custom software development services, your partner should offer business technology consulting. With proper consultation, you can refine your vision with timely advice that will improve your approach, incorporate more suitable technology, or align with your budgetary constraints.

If you would like to work with a passionate software development company dedicated to helping you shatter growth barriers with dynamic tech, let’s chat today.

Technology is not a choice but a fundamental business strategy in the current world. Enterprises will need to accelerate their digital initiatives to support emerging technologies. To remain competitive in 2022 and beyond, businesses MUST invest in new technologies to ensure future innovation and growth. Business opportunities wait for those who successfully tackle their technology challenges. Efficiently dealing with these challenges can set a business apart from its competition.

This blog will assist you in facing the biggest technology challenges of 2022. It outlines how different technologies can help your business. And how you can ensure successful digital transformation.

How Technologies Help Businesses Achieve Success?

Digital transformation is one of the driving forces behind the growth and success of any business. It can enable better collaboration within and between organizations. Today’s business leaders must focus on projects that prepare their organizations for the future. Here are a few ways technologies help businesses stay ahead of the competition.

• Online collaboration: With a big upturn in remote working, it is fortunate that we no longer have to try to make do with cobbled-together services. Collaboration is key to efficiency and productivity. Remote workers need tools that can help them collaborate in real-time allowing them to go on with their projects rather than battling with those tools.

• Automated inventory system: The biggest benefit of an inventory system is automation. It can automate manual tasks and increase efficiency and productivity. It can also reduce overhead costs and increase customer satisfaction.

• Mobile apps: Mobile apps or customer-facing business apps improve how a business interacts with its customers. 

• Digital data storage: Digital data storage has reduced common data management tasks to mere seconds. It can store or retrieve data at any time from almost anywhere.

• Project management software: This software enables project managers to assign specific tasks to their employees. Also, it enables them to monitor the workflow to see if employees can accomplish their tasks on time. 

Watch more: Should your business invest in custom-built software or off-the-shelf software?

Biggest Technology Challenges Companies Face In 2022 

Businesses can benefit more from emerging technologies when they successfully tackle technology challenges. Here are some of those challenges:

1. Data security

Data security threats are causing havoc in organizations. Attackers constantly develop new techniques and vulnerabilities. Some of the most significant information security challenges include:

• Surface attack vulnerabilities
• Cloud threats
• Misuse of credentials
•  Digital supply chain risk
• Vertical specialized threats
• Conventional attacks

Preparedness is the key to stopping attacks before they stop you. Security leaders must look beyond traditional approaches to monitor, detect, and respond to manage a wider set of risks. In the case of supply chain risk, security leaders need to partner with other departments to prioritize digital supply chain risk. Businesses often choose to hire outsourced cybersecurity firms to help them strengthen their security and ward off any data security threats.

2. Automation

Automation has become a necessity in the digital world. Effective automation can boost productivity. It is an overall system quality enhancer in the long run. With proper automation, businesses can reduce maintenance costs. Manufacturers can also use automation to reduce manufacturing costs and increase the speed of time to market. 

But, finding the right automation tools and introducing them into the business workflow can create complications. Hence, a business must prepare for all the hurdles and mitigate the risk of automation failure. The success of automation largely depends on the execution of the test strategy. 

3. Remote work support or hybrid workforce

2022 is an important year for the hybrid workforce model. Integration between cloud-based solutions and mobile apps is crucial to ensure consistent hybrid or remote work engagement. The key is finding the best way to care for the needs of each user and department. Plus, an enterprise must find ways to optimize its IT support to assist remote employees with their computer problems.

4. Digital transformation

Digital transformation paves the way towards more efficiency, resiliency, and sustainability. However, implementing these technologies into business is a challenging process. These challenges are:

• Talent shortage
• Employee pushback
• Limited funds 
• Challenge of agile transformation

Enterprises with limited resources can assign projects to third-party organizations. A business can reduce pushback when implementing high-code or no-code solutions based on employees’ requirements. Taking a more mindful approach to digital transformation is crucial for ensuring a smooth transition. 

5. Focus on mobility

The usage of mobile apps worldwide has greatly increased in the past decade. Business owners use mobile apps to deliver services and goods to their customers. They also use these apps to boost their Return on Investment. These apps allow employers to give their employees tools that help them collaborate efficiently even when they work remotely.

However, providing a consistent mobile app experience can be challenging. 

6. Integrations

There are three major integration challenges enterprises face today.

• First challenge: Enterprises may have mission-critical systems and applications that they wish to transform and modernize to future-proof their business. 
• Second challenge: Connecting information from mission-critical systems to new applications. How to integrate information from point A to point B to bring everything together.
• Third challenge: Providing low code and no code tools to combat the shortage of skill and labor.

An effective IT management plan can help minimize or even cut the risk factors associated with integration.

Watch more: How Fingent helped a leading Real Estate firm in the US to streamline their operations and gain efficiency through seamless integration!

7. AI & ML

Businesses are often pursuing Artificial Intelligence and Machine Learning for their business problems. Another major focus of enterprises is learning how to complete specific tasks without human intervention.

Each company is different, so it takes a unique algorithm for a particular business process. Finding the right AI and ML algorithm can be challenging.

Connect With Future Technologies and Stay Ahead

There is no end to the ever-changing trends businesses must adapt to, to thrive in this highly competitive market. Hence, businesses must forge ahead to connect with future technologies, or they may find competing with other businesses in their sector harder. Whereas businesses that adapt to digital transformation are much more successful in the market. However, analyzing tech opportunities or deciding which technology best fits your business operations is not always easy. That is why Fingent top custom software development company helps companies realize tech capabilities and build, implement and adapt to the right digital tools.

It is the best time to move the digital transformation from your priority checklist to the “right now” list. Connect with our experts to know how we can help your company transform digitally!

Businesses are unique, like fingerprints! Their external and internal processes make them unique even in their sector. This makes it important to work on customizable solutions. After all, why would a customer come to you if you offer the same products and solutions as others? An end-to-end custom software solution will help you deliver unique customer experiences so that they are drawn to your business over other market leaders. Now is the time to take steps to start investing in end-to-end custom software that can offer you a competitive edge. 

Whether to gain greater connectivity for IoT devices or to develop your own software, there is a horde of reasons why buyers and sellers gravitate toward end-to-end custom software solutions. Here is what you must know about end-to-end software and the impact it can have on your business growth and scalability. 

What Is an End-To-End Custom Software Solution?

As the name suggests, an end-to-end custom software solution is a tool that has all the features necessary to execute the workflow from the very first step to the last one. This solution allows you to use an entire range of tools that you need to support and grow your business without using any third-party platforms. 

Read more: Custom software development weighed against pre-packaged commercial software

Why And When Must You Think of Investing in A Customized End-To-End Solution?

End-to-end custom software solution serves specific needs and day-to-day requirements of your business. More importantly, it can automate your organization’s manual tasks and business activities. Being flexible to your business needs, these custom solutions can be more productive and have a positive influence on your business. It is easy to work with it. And it can even suggest which professionals could execute a task if the operating person leaves. 

Here is when you must invest in an end-to-end custom software solution:

1. Do you need to juggle between software systems?

If so, an end-to-end custom software solution makes connecting different functionalities effortlessly. Even other software systems can operate in sync through an end-to-end custom software solution.

2. Do you need to automate daily activities?

The end-to-end custom software solution is an excellent resource for performing automation with utmost ease. 

3. Are you looking for ways to streamline your business methodologies?

For business productivity, you need streamlined and effective methods. And that is exactly what end-to-end custom software solutions can help you generate. Also, it can aid the structured collection and storage of all data.

4. Are you struggling to optimize business services and improve business efficiency?

An end-to-end custom technology can optimize business services by saving time and effort. Besides, since it supports the business processes, you will ensure to satisfy your clients and earn their loyalty.

5. Are you struggling to enable workforce productivity?

Most custom software comes with templates that allow you to customize the entire process, from start to finish. This solution enables email automation, marketing automation, and content management. These elements enable workforce productivity. 

6. Do you want to keep tabs on your business growth and maturity?

Since end-to-end technology works for multiple stakeholders, you will be able to keep tabs on income sources. This improves your brand identity.

Read more: 5 reasons why custom software development is important to your business

Top 6 Benefits of Implementing End-To-End Technology

All businesses across various industries can truly benefit from end-to-end custom software solutions. Here are the top 6 benefits for your consideration:

1. The ability to unify various processes in one concise format

Custom software provides an all-in-one cloud-based system that can correspond with your business goals, operations, and users. This system can unify hundreds of various processes into one concise format. This all-in-one tool allows you to streamline the payment process, optimize sales, and enhance logistics. It also allows you to monitor daily operations and take care of accounting. Above all, it smoothens the onboarding process.

2. Faster data migration

Transferring data from one source or tool to another is time consuming and tedious task. Implementing an end-to-end custom software solution smooths the data flow and enables easier and faster data migration from one source to another. This way, you have a complete overview of your prominent KPIs, metrics, and more within one platform. 

3. No need to overpay

One of the most important benefits of investing in an end-to-end custom software solution is its cost-effectiveness. You will have to overpay if you have multiple systems from multiple vendors. Though the initial cost of off-the-shelf may seem lower, you are expected to take care of licenses, support packages, and other expenses that increase your initial cost. 

Investing in end-to-end custom technology will cut your expenses significantly. On the flip side, you will also save money because of reduced errors, enhanced communication, improved productivity, and a simplified onboarding process. 

4. Improved efficiency 

Dealing with several vendors can lead to confusion. However, working with one vendor can help you optimize and automate your business. A custom solution can enhance overall efficiency and productivity. Minimized errors, improved security, optimized performance, and more lead to increased efficiency.

5. Grow and change along with your business needs

In business, change is inevitable. Changing an off-the-shelf software can be too expensive as you will have to buy additional licensing and add-on packages. With end-to-end custom technology, the developers can build it to scale as needed. This will allow you to keep up with the changing workflows, tasks, and integrations. 

Additionally, custom software technology allows you to easily add new technologies and solutions, thus helping you stay on top of the latest innovations. Such a solution can bring your ideas to life and meet your specific business goals and requirements. 

6. Competitive advantage

Off-the-shelf software is publicly available, and every other business uses it. How can using the same software will help you stand apart? Using the same software is like using a uniform; you cannot see the difference. To stay above the competition, you need an end-to-end custom software solution with unique features and functions configured solely for your business. 

Watch more: How your business can stay Compliant, Smart, and Reliant with Custom Software!

Not an Expense but an Investment! 

An end-to-end custom software solution will cover your basic business needs and empower your company to accomplish more. An end-to-end custom software solution is an investment rather than an expense. Fingent has worked with many leading businesses to create innovative and cost -effective custom software solutions that gained leverage and a competitive edge. We can help you too take your business to new heights! Give us a call, and let’s get started!

Custom software tackles the specific needs of users more comprehensively than traditional off-the-shelf packages. Efficiency, scalability, lower integration cost, uniquely tailored features, functions, profitability, and independence are a few of its major benefits. In simple words, custom software creates a more customer-centric approach to your business, which translates to more business.

Globalization has pressured companies to take bold steps in expanding their horizon and potential. The rapid increase in market trends, technological innovations, and increasing competitor growth has changed and raised customer expectations. Deploying custom software development solutions in your business can be a strong weapon in this vicious battle. This blog will show you why and also help you see if this might be the right time to implement it for your business.

Why Is There a Need For A Custom Software Solution?

Evolving times have made it necessary for businesses worldwide to step up to the challenge of being bold, unique, and versatile. “Be different or be forgotten” has never before been more relevant than today. Custom software gives you the tools you need to satisfy your customers.

Here are some more reasons why custom software development is the current need for businesses on a global scale:

1. High Security

Security nowadays is a prime preference provided by most companies. Getting hacked by cyberpunks is a nasty affair that not only compromises your company’s data and security but also ruins the reputation of your business. Compared to commercial off-the-shelf (COTS) Software, customized business software is better in terms of security and competence in saving data.

Mobile app formulating corporations exemplify this feature by merging features like two-way authentication and data encryption.

2. Efficiency

Custom Software is purpose-built to support unique operations and workflows promptly and productively. It refines the workflow by removing unnecessary factors and automating monotonous and tedious manual jobs. This way, it fulfills the fundamental goal of improving your company’s and its employees’ operational efficiency and productivity.

Read more: How Fingent helped Impact XM improve their marketing management capabilities and enhance their business performance with a custom software solution!

3. Scalability 

Since customized software is created based on the unique needs of a business, it can easily be modified and embellished depending on the growing needs and requirements of the company. Scalability is one of the greatest significant advantages of custom software. It allows you to construct relatable software based on your business requirements. It can also cut costs associated with purchasing extra licenses and subscriptions to commercial software.

4. Cost-Effective

COTS software generally fails to work with existing and legacy applications. Businesses must invest further to ensure the software works well with their existing infrastructure. On the contrary, custom software can be built to adapt easily to an organization’s needs and integrate with any environment. Custom cloud software development goes one step further and enables you to build cloud-native applications at a much lesser cost.

Read more: Know What’s Driving Custom Software Development Cost This 2022!

5. Independence 

Deploying custom software means freedom from the clutches of a commercial software vendor. You can avoid incessant price hikes for licensing and support. You will also remain unaffected when packaged software goes out of business, or a vendor terminates a product. With custom-developed software, you are in charge of creating and maintaining the software, which means you can update and modify it as regularly as you need.

These are just a few reasons for the increasing need for custom software solutions. It can effectively meet the demands of businesses irrespective of the company’s size. Technically progressive solutions can give you a stepping stone over opponents.

Using custom applications reports a 77% reduction in manual data entry! Learn more about why choosing custom software works over commercial off-the-shelf solutions. Scroll through our Infographic now!

Does Your Business Need Custom Software Solution Right Now? 

Now that you know the benefits of custom software, the question is: do you need to implement it right now, or can you put it off for a while? Here is a checklist of symptoms. If you tick any of these boxes, it might just be time to get that ball rolling on a custom software solution:

1. Lack Of Efficiency 

Are your employees struggling with mundane manual work? Is it resulting in delays, lower productivity, and errors?

Custom business software developed according to your requirements will empower your business to tackle these challenges by providing an all-in-one environment for employees to plan and execute the workflow, communicate effortlessly, and procure data anytime. By enabling automation and AI in the software, you will be able to eliminate the element of human error and conserve your human resources for more focused tasks.

2. Data Management Issues

Do you often struggle to access and track crucial data? Does it take ages to make sense of the data and put it to good use? Are you struggling with the threat of data leaks?

Data is probably the essential asset of any business. It is usually challenging to store, analyze and track crucial information, and keep the data secure from theft to maintain the data integrity in your industry.

A custom software solution can be built to include Business Intelligence (BI) solutions that can help you convert data into actionable insights. This will help you make intelligent data-driven decisions for your business. You can also customize security layers for your software to address the particular security risks associated with your business.

3. Low Customer Satisfaction

Have you been receiving more customer complaints lately? Are they dissatisfied with their interaction with your business?

Nobody knows your customers as you do. Integrating this knowledge into your software can be priceless in ensuring customer satisfaction. Custom software allows you to do just that. You can work with your developers to integrate insights from your customer base and market analysis and provide features that your customers will be happy with, which can lead to a seamless customer experience.

4. Business Expansion

Is your business expanding? Do you need to grow technologically?

Expansion and development are two constants in a business owner’s mind. Whether your business is expanding in terms of location, the number of employees, or customers, you unquestionably need to grow technologically.

You don’t want to add technological issues to the chaos of a quickly expanding business. Looking for new software solutions every time a component of your business grows will be a real challenge. With custom software, you can easily build on the existing software and add features as you scale.

Read more: Choosing the Right Software Development Vendor

How To Get Started?

As you can see, custom software can play an integral part in the operation and success of your business by improving productivity and increasing efficiency. It is an excellent investment in time-saving, cost-effectiveness, and risk reduction.

The first step is hiring a professional technical team to help you develop custom software. Fingent, a leading custom software development company, excels in crafting tailored software solutions for clients, perfectly aligned with their unique requirements. We can help you too.

Give us a call, and let’s discuss your requirements.

It is getting more competitive than ever before for businesses today! Every company wants to lead in the market as quickly as possible. How can you get there first?

Software development can be your answer. But can outsourcing software development make a difference?

Outsourcing has been one of the most talked-about digital transformation strategies, especially if you want to launch your products quickly into the market. Outsourcing software development nurtures your business goals by saving time and cost. You ensure effective and innovative product delivery when you allow top professionals to work on your project. The benefits are not just limited to that.

This blog will explain the pros and cons of outsourcing software development and how you can select the right company so that you are well prepared the next time you plan to outsource your software development!

Why Outsource Software Development?

Organizations outsource software development to save costs and resources, nourish business growth, remain competitive in their sector, and more. By outsourcing, businesses enable their in-house team to focus on their expertise rather than be jack-of-all-trades. This kind of freedom allows your team to improve their performance in their field instead of doing routine tasks that consume precious time. Here are some more benefits:

1. Control business expenditure

The biggest driver of outsourcing software development is cost reduction. This frees up more funds to channel into other crucial business areas.

The question is, how does it reduce cost?

When you outsource software development, you are only paying for their services. You save common expenses associated with in-house staff like hardware and software, rent, training, etc. Besides, it is much easier and cheaper to outsource as you can find software development teams within a few clicks.

2. Gain access to the world’s best outsourcing specialists

Outsourcing software development goes beyond physical boundaries, empowering you to connect with the world’s best talent. The best part is that this collaboration could be for all projects or just a one-off project with no further obligation.

3. Saves time on onboarding specialized talent

Looking for a software developer with a diverse skill set is a complicated and time-consuming process. Plus, training a developer incurs more delays and costs. Conversely, outsourcing software development is far simpler while saving time, effort, and money.

4. Flexibility and speed 

Outsourcing software development gives you the simplicity of scaling your project. An outsourcing company allows you to choose the right cooperation model that matches your business needs.  This allows you to respond to changes as they occur and take action to address them with a quick turnaround.

5. Forge ahead with the latest technology

A good software outsourcing company uses the latest languages and development tools to build effective and innovative products at minimum cost. You can benefit from this and trust that the best tools will be used for your requirements.

6. Get exceptional support

Since the outsourcing firm may already have experts with immense knowledge in their field, they become your business partners. If you face any crisis, you can count on them to solve your problem as soon as possible.

Now that you understand why you should outsource software development let us clarify the difference between offshore and nearshore outsourcing.

Read more: Why Software Development Outsourcing Is A Smart Move Now?

Offshore Vs Nearshore Outsourcing

Offshore outsourcing is sourcing company operations outside your country in a different time zone. Nearshore outsourcing is sourcing company operations within your country.

Benefits of offshore outsourcing include cost savings, access to specialized expertise, and 24/7 support. Benefits of nearshore outsourcing include shared time zones, similarities in cultural background, better control, and better security.

Software development doesn’t need an in-house team, so you can choose either near or far outsourcing companies to build your ideal dedicated team.

Pros And Cons of Outsourcing

As for any solution, there are always pros and cons. Let us look at both, so you can make an informed decision for your business.

Pros of Outsourcing

1. Timing: While every business needs to go through a procurement phase, that time will be much reduced if you don’t have to spend onboarding the right talent. Besides, if your idea is still in the formative stage, you will not be able to attract the right talent. This makes outsourcing the best option.

2. Business goal: If validating your idea is your primary business goal, the earlier you begin to do this, the better. Outsourcing frees you to concentrate on business goals and build the foundation of your business viability.

3. Access to proven workflows: Because the outsourcing firm likely worked with many organizations similar to your business, you can be confident that it will implement proven workflows and processes.

4. Speed to market: Speed to market increases as the outsourcing firm can manage and optimize workflows.

5. Access to a larger talent pool: Outsourcing companies can access industry experts who can be reached whenever you need to consult them for a solution.

Cons Of Outsourcing

1. Risk of failure: Business failure is risky if you cannot manage your outsourcing company effectively.

2. Communication challenges: Some offshore firms with different cultures may pose communication challenges.

3. Lack of motivation: An outsourcing firm may not share your motivation to see a project through to successful completion.

4. Limited control: If the outsourcing firm uses freelancers, the hiring company may have only limited control over the actual work.

Digital transformation is an investment that has to be made to stay relevant. However, whether to hire in-house or outsource will ultimately make the business more successful and profitable.

Read more: A Detailed Software Development Outsourcing Guide For CEOs!

How To Select the Right Outsourcing Company?

Once you have decided to outsource your software development, evaluating and selecting the right vendor to complete the work that meets the best standards is crucial.

Here are some tips that can help you find the right outsourcing company:

• Research and list all potential partners who can provide the required services. Also, find out from others to see if they have any recommendations.
• Good communication is of utmost importance. Request a meeting to help you understand their communication style.
• Ask for references, read their case studies, and do your research to determine whether they have the needed experience and expertise to see your project through.
• Be cautious about any outsourcing company that offers cheap rates. Instead, enquire about their success in the past.
• Verify a vendor’s security policies, certifications, and accreditation.
• Ensure the vendor has professional liability insurance.
• Find out if the vendor can support all of the programming languages you need for your software development projects.

We at Fingent would love for you to come and test us out. Meanwhile, here is a look at what our clients have to say, some of our case studies, and a look at what we excel in!

Are You Ready to Outsource Your Software Development?

The choice is entirely yours. Make sure you consider all the pros and cons and make an informed decision. First, look at your business needs. Then, find out if the vendor is compatible culturally and financially. This will ensure a higher probability of success. We would be happy to discuss your needs and help you decide. Please feel free to reach out to our experts.

The world of programming has come very far, and it continues to evolve. What this gives you is – options. Out of the many ways to fabricate these programs, the two most common ways are functional programming and microservices. This blog gives you an in-depth view of both of them.

To understand the similarities and differences between these two, we must first understand how they work individually.

What Is Functional Programming?

Functional Programming (also called FP) is a programming paradigm in which everything is bound together by using pure mathematical functions. Its programming style is declarative because it focuses on “what to solve” instead of “how to solve.”

FP is mainly based on the ancient Lambda Calculus developed in 1930. It is famously known as the smallest programming language in the world, and it defines what is computable. Functional programming languages are classified into Pure Functional Languages and Impure Functional Languages. A few examples of Programming Languages that support functional programming are – Haskell, JavaScript, and Python.

Read more: Enhance Your Small Business Growth & Success with Custom Software Solution!

What Are Microservices?

Microservice architecture, or simply Microservices, is a modern perspective on software whereby application code is conveyed distinctively in small, manageable pieces. It mainly focuses on building small, self-contained, and ready-to-run applications that can bring great pliability and added resilience to a code.

Each service functions independently in its own process, making microservices a service-oriented architecture where applications are built as a collection of divergent smaller services rather than one whole monolithic app. The programming languages that support microservices development are – Java, Golang, Python, .Net, and Node JS.

Read more: Is Microservice Architecture The Next Best Move For Businesses?

How Are Functional Programming And Microservices Similar? 

Although Functional Programming and Microservices are very different, a few similarities can be noted between them.

• They have a shared goal of deployed elasticity
• Both functional programming and microservices are formulated to scale and load-balance simultaneously with any increase in demands
• They are also designed to replace faulty instances
• They both share a concept of encapsulation and clear separation
• Both functional programmes and microservices are small, which means they both carry the minimum amount of logic
• When using microservices or functional programmes, utmost discretion is advised since the major quality of experience problems could develop.
• The most significant point of similarity between the two is that neither functional programming nor microservices should store data within a component.

With the help of transport independence and pattern matching, services can be edited from your system, letting you reposition the topology with each deployment. If you look closer, this benefit emerges from the similarities between microservices and functions from functional programming.

How Is Functional Programming Different From Microservices? 

Although often associated together, microservices and functional programming are fundamentally quite different, especially regarding software design and development. A few of these differences are listed and explained below:

• Reasons for small size – Microservices are small to facilitate better generalization, which capacitates developers to contrive applications from a collection of small functional units. Whereas functional programmes are small to perform limited tasks. Functional programs cannot be composed into applications; instead, they are linked with events.
• Functional programming concepts aggressively exercise stateless behavior. It emphasizes mostly on generating the same outputs from the same inputs. While microservices usually exhibit stateful behavior because they conserve state throughout a database, which is also called back-end state control.
• Functional programming performs on asynchronous outside triggers cited as event flows. Alternatively, microservices are called by other software when they are required to be part of a workflow.
• At a specific point during processing, you’re probably calling a microservice if you want to call an individual component. Still, if you want to respond to something external, that’s generally pursuant to functional programming.
• Organized functions have sequences in place of workflows, and every step in the processing of an event is likely set on by the step before it. On the contrary, all activations of your software associated with microservices are explicit calls, so you don’t have to worry about figuring out how to keep the steps in sequence.
• Exploring how they will sequence the steps in their scheduled functions is imperative for functional programming, but concurrency is the key with microservices.
• Since microservices are called by other software, you can control how they are called, so you can control concurrency. Alternatively, you can expect event-driven functions to be concurrent.

Under What Circumstances Are Functional Programming And Microservices Best Employed? 

Functional Programming:

Typically it is used for mathematical operations, AI, and pattern matching; generically, anything that can be broken down into a set of rules that must be utilized to get a solution.

Some of FPs advantages that make it better employed are –

• It helps solve problems effectively in an easy way.
• It increases modularity.
• It allows the implementation of lambda calculus in programmes to solve complex problems.
• Some programming languages endorse nested functions which improve the tenability of the code.
• It improves the productivity of the developer.
• It helps debug any code briskly.

Microservices:

Microservices have quintessentially changed the way server-side engines are fabricated. Making the most of microservices is a unique science and requires discipline.

A few of their advantages that make them better employed are –

• Each microservice, as needed, can evolve independently, enabling constant improvement and faster app updates.
• Resources can individually be increased to the most needed microservices rather than scaling an entire app. Therefore scaling is faster and usually more cost-efficient as well.
• If a particular microservice fails, you can prevent cascading failures that would cause the app to crash by simply isolating the failure to that single service.
• Its smaller codebase allows teams to understand the code more easily, making it simpler to maintain.
• Microservices boost agility by reducing the time to market and speeding up your CI/CD pipeline.

Read more: Breaking Down The Enterprise Software Monoliths!

Make the Best of These Programming languages for Your Business

Deciding which programming language is best for you is a critical decision.

Speak to our tech experts at Fingent top custom software development company to see which one is right for you and how you can implement it for your business.

“Innovation is critical to the future well-being of society and to driving economic growth.”

                                                    – The World Economic Forum, 

Prior to the COVID-19 outbreak, several organizations were reluctant to consider digital innovation as a cornerstone of their business strategy. A sea of overnight changes forced them to try and implement a digital-first strategy, without even knowing how they can effectively choose and adopt digital tools. Data shows that 94% of executives are unhappy with their firms’ innovation performance, despite spending heavily on incubators, accelerators, and internal venture capital. These businesses are unable to create any impact because their efforts are stifled by some of the biggest barriers to innovation, such as lack of organizational support, inability to foresee the long-term rewards offered by customized solutions, and poor process and data management, among others.

In this post, we’ll briefly examine five major innovation hurdles faced by business leaders today and how these challenges can be busted.

Read more: Top 5 Organizational Imperatives for Business Leaders to Become Winners in the New Normal

1. Organizational Resistance

True digital innovation embraces an organization’s leadership, work culture, technology, and business practices. Many business leaders struggle with digital innovation because it appears to oppose their established ways of working, which they have been practicing for decades. It’s hard to get innovation right within a rigid organizational structure where mistakes cannot be tolerated. At the same time, every organization cannot afford to engage in costly and time-consuming experiments that will intervene their daily show.

Overcome Resistance Through Outsourcing

By strategically outsourcing innovation, business leaders can reduce the experimental cycle times and lower the associated risks and costs. Consider the insurance law industry that processes massive amounts of legal documents and insurance data on a daily basis. A typical employee compensation claim would take nearly three years for final settlement, after all the paper sifting, consulting, probing, and finalization. The average case settlement time costs a carrier close to $85k. Sapra & Navarra, a leading Californian attorney wanted to put an end to this enigma. They outsourced their technology requirements and developed an AI and Machine Learning program that enhanced and accelerated the activities involved in processing workers’ compensation claims.

The result: 50% decrease in average total claim costs, claim cycle time, and associated personnel costs.

Outsourcing your digital innovation project gives you access to top-rated specialists in various technologies such as AR, VR, IoT, automation, blockchain, mobility, enterprise content management, data analytics, and business intelligence. Outsourcing saves your cost and time and makes your business scalable for future needs.

2. Disorganized Innovation Process

Several organizations fail to formulate a process to guide sustainable innovation. Companies rely on serendipity instead of formally analyzing their strengths and weaknesses around innovation, thereby failing to understand and define their expectations. This prevents business leaders from broaching innovation as an enterprise-wide responsibility. Innovation thrives in an open and supportive environment where employees are assured of recognition and professional growth.

Ways To Adopt A Systematic Innovation Process

Business leaders and managers can assist with the process of innovation by:

• Understanding the operational details of innovation projects and keeping a close eye on the project performance.
• Establishing a learning-focused environment that encourages employees to speak up and try new ideas.
• Ensuring the selected ideas are well-evaluated and are based on their organization’s protocols.
• Responding to opinions and queries and motivating employees to ask the right questions.
• Paying rapt attention to customers’ needs and specifications and utilizing technology creatively to lessen their woes.

To put it simply, a systematic innovation process should have three components: a worthy problem to solve, a technology that helps develop the solution, and a business model that generates ROI from it.

Read more: Prepare For The Future of Digital Innovation with Fingent

3. The Rift Between B2B And B2C Tech

Just like how B2C customers rely on Amazon to buy their household essentials, B2B customers are also switching to digital tools for researching and buying products. Several factors, such as decision-makers, influencers, higher price points, competing sales channels, and a growing range of product lines and specifications come in the way of B2B purchasing decisions. This has caught B2B sellers in a maze of innovation challenges. More than anything else, B2B companies need to become more customer-centric to stay ahead of the competition.

How B2B Companies Can Apply Innovation

• Have a solid omnichannel strategy, with a specific focus on improving mobility. This will put better tools in the hands of B2B sales teams.
• Evolve from legacy organizational structures. The leadership should bring more clarity to digital roles and define the ownership of digital initiatives.
• Outsource digital capability building requirements to a trusted offshore software vendor. Migrate to the latest technologies like the cloud and update your legacy enterprise software to drive your innovation efforts.

Read more: Cloud Migration – Essentials to Know Before Jumping the Bandwagon

4. Too Much Focus On Short Term Gains

Building the gap between digital innovation leaders and laggards is a time-consuming endeavor, which can pay off in the long term when done rightly. Several enterprises go for ready-made, canned technology solutions in a race to become digital. Such businesses tend to lose out big as they fail to prioritize the long-term gains such as scalability and adaptability that are more crucial in their growth journey. Custom software, that is purpose-built for your business, is the best digital innovation solution that can stabilize and scale your business growth.

Reaping Long Term Rewards With Custom Software 

With a solution tailored to your industry’s requirements, it becomes easy to integrate software into your organization’s daily routine. Off-the-shelf software meets only 60% of your operational business needs.

Our customers reveal the long-term benefits of adopting custom software:

• 93% of our clients saw a decline in inefficient tasks after implementing custom software
• 91% agree that tailored software solutions have increased their productivity
• 77% could reduce manual data entry errors after replacing their off-the-shelf software with custom applications
• 76% of our clients reported increased ROI

Read more: Ensuring small business success with custom software

5. Innovation Has To Be Managed Only By C-Level Execs

More than technology, the success of the digital transformation is determined by the attitude of people across the organization. According to Harvard Business Review, “when leaders think about investing in technology, they should first think about investing in the people who can make that technology useful.” This is where the main implication lies. Digital innovation success depends on your ability to adapt to the changes rather than the technology itself.

Driving Innovation Forward

In these times of change, it’s important to count diverse perspectives, talents, thoughts, and ideas to drive innovation forward. Business leaders should invest in raising new skills, think cloud and mobile-first, build personalized experiences using data, and tie all the digital channels to offer customers a unified experience.

Read more: Future-proof your business with 5G, Edge Computing, and Cloud

Start Your Digital Innovation Journey With Fingent!

Have you started your digital transformation journey yet? If not, there’s no better time than now. We’re helping businesses build robust custom solutions that can sustain their innovation model and boost their customer experience even in the wake of a black swan event. The way each business looks at innovation could be different, but what ultimately matters is how your innovation model integrates with your business strategy, long-term growth plans, team culture, ROI, budgeting, market value, and above all the impact on your customer. Are you ready to take a free assessment?

Drop us a line and our sales team will contact you shortly.