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31
Mar, 2023
Digital Transformation ‘MedTech’ Industry

Digital Transformation Stands Crucial to ‘MedTech’ Industry

The pervasive influence of digital technology is reshaping every industry, regardless of size and financial strength. The healthcare industry has been a pioneer in the adoption of emerging technologies to advance next-generation healthcare services. This has resulted in the growth of the MedTech industry as we know it today. According to recent reports, digital transformation (DX) is revolutionizing the delivery of healthcare services and ultimately, the fortunes of MedTech companies.

Digital transformation in the MedTech industry has two core objectives: to enhance service continuity for patient care and to improve the efficiency of MedTech companies’ internal operations. The implementation of these objectives has had a positive impact on the performance of MedTech companies in terms of operating margins and overall revenue generation.

Moreover, the digital trend is also driving innovation and creativity in MedTech companies, enabling them to introduce novel medical devices and services that better meet the needs of patients and healthcare providers. With the increasing importance of digital technology in the healthcare industry, it is imperative for MedTech companies to stay ahead of the curve and leverage the benefits of DX to remain competitive in the market.

Digital Transformation of MedTech Industry

The MedTech industry is expected to experience a significant rise in revenue, with digital transformation initiatives projected to contribute to its growth at a Compound Annual Growth Rate (CAGR) of 6.3% between 2018 and 2024, adding up to USD 241 billion in revenue, according to Frost & Sullivan, a leading market research firm. The availability of advanced digital solutions such as analytics, AI, and augmented or virtual reality is having a considerable impact on the internal operations of the MedTech industry, including manufacturing, as well as on external areas of care delivery, states Siddharth Shah, Program Manager of Transformational Health at Frost & Sullivan.

This transformation is creating novel opportunities, such as gamification, patient engagement, device data analytics, and medical device cybersecurity for the industry’s growth in the future. However, the report highlights that North America and European markets are more mature in adopting digital transformation solutions, given their technological sophistication, regulatory support, and investment. The Asia-Pacific and Latin America markets are next in line for readiness to adopt such solutions.

The report suggests that North America, Europe, and Asia-Pacific together represent 89% of the overall opportunities for MedTech digital transformation solutions globally. Although the widespread adoption of digital solutions remains a challenge, it is expected to improve significantly, driven by the demand from tech-savvy users and the pressure within the industry to improve margins and efficiency, observes Shah. Some pioneering health systems are already experiencing positive returns on investment from their digital solutions, which is creating a positive outlook for the industry’s future receptivity to MedTech solutions. The report notes that support from regulatory bodies will further help achieve this goal.

To leverage the benefits of digital transformation (DX), Frost & Sullivan recommends that MedTech companies should prioritize the following strategies. Firstly, companies should seek partnerships that provide access to patient care insights and opportunities for growth. Secondly, they should invest in cost-effective solutions that prioritize patient care. Thirdly, companies should consider shifting from a one-time device sales model to a predictable subscription-based revenue stream to reduce bulk capital expenses and make operational costs more affordable. Lastly, innovative solutions should be implemented to improve brand loyalty and differentiate from competitors.

Moreover, DX offers immense opportunities for MedTech companies to enhance their offerings through value-added services such as remote monitoring, telemedicine, and other patient-centric solutions. These services can enable MedTech companies to deliver personalized care and improve patient outcomes while generating new revenue streams. Additionally, DX can also enable MedTech companies to optimize their supply chain operations, reduce costs, and enhance their overall efficiency.

By embracing these strategies, MedTech companies can position themselves for long-term growth and success in the rapidly evolving digital landscape of the healthcare industry.

Riding the Wave of Digital Transformation in MedTech

In the digital era of the MedTech industry, data is a valuable asset that is widely available across the organization, medical devices, electronic medical records (EMRs), and social media platforms. This data provides essential context for patient responses to medical devices or therapies and fuels the healthcare information system. MedTech companies must leverage this abundant data to drive innovation and demonstrate the effectiveness of their products in improving care and reducing costs.

To achieve these goals, MedTech companies must ask themselves the following questions. Firstly, do they have a comprehensive strategy for digital transformation that includes interoperability, data governance, and analytics? Secondly, can they seamlessly connect device and clinical data from EMRs and other healthcare information systems? Thirdly, for value-based care or outcome-based contracts, are they identifying the patient cohorts and care pathways most likely to benefit from their devices and therapies, and creating real-world evidence of efficacy and cost reduction? Fourthly, are they capable of easily consuming and aggregating data in any format in real-time? Finally, do they have a unified information system that can supply data from all sources for advanced analytics, machine learning, and artificial intelligence initiatives?

If a MedTech company cannot confidently answer ‘yes’ to all of these questions, it may be time for a fresh approach to digital transformation. By implementing a robust digital transformation strategy that leverages the power of data, MedTech companies can access new customers and succeed in value-based care contracts, ultimately driving innovation and growth.

Trends and Developments in the Medical Devices Industry

The medical device industry relies heavily on technology, which is driving digital transformation in all aspects of the field. Additive manufacturing, such as 3D printing, is becoming increasingly prevalent in traditional manufacturing, with parts and prototypes being designed digitally and then printed layer by layer using metal, plastic, or resin. This method is particularly useful for one-off replacement parts and rapid prototyping, as it can increase profitability, keep production lines operational, and even reduce time to market.

Smart factories, empowered by the Internet of Things (IoT), are revolutionizing asset management by shifting from reactive to predictive maintenance. By continuously monitoring plant assets, the IoT can detect performance inconsistencies before they become problematic. Furthermore, IoT systems can adjust the environment to maximize productivity for both people and machinery, through the continuous monitoring and adjustment of lighting and temperature, among other factors. Additionally, IoT can improve quality control by monitoring output and testing predetermined factors.

In a digital world, collaboration is made easier, and medical device manufacturers are taking advantage of this by collaborating with drug manufacturers to create devices to administer novel drugs. For instance, Takeda Pharmaceuticals and Portal Instruments recently joined forces to develop a biologic drug that can be delivered in a patient’s home without the need for a needle or hospital visit. This new technology is improving the patient experience, and it represents an exciting opportunity for further innovation in the industry.

The medical technology and pharmaceutical industries are increasingly collaborating to develop innovative solutions for diabetes control and cancer treatment. Digital collaboration facilitates the secure exchange of vast amounts of data between partnering companies. With the advent of Industry 4.0, traditional manufacturing processes are being transformed into agile supply networks that leverage new technologies to integrate the physical and digital worlds. Rather than following linear processes, the ecosystem of manufacturing is connected by a digital thread that facilitates the transfer of information, goods, and services. To achieve this, digital supply networks rely on the integration of enterprise resource planning (ERP), warehouse management system (WMS), third-party logistics (3PL), and e-commerce systems. In particular, B2B e-commerce platforms are proving vital to medical device manufacturers, wholesalers, and distributors in meeting the needs of their customers. By creating a B2B digital customer experience that is similar to B2C while ensuring regulatory compliance, these platforms enable users to customize their checkout workflows, pricing rules, and product data.

Check out Slitigenz's latest project on digital transformation for the Medtech sector

29
Mar, 2023

Finance digital transformation: 5 key rules & tools for 2023

Digital finance transformation is a comprehensive approach to financial management that leverages the digital landscape and innovative technology. When implemented effectively, it can yield numerous advantages, including enhanced efficiencies, minimized errors, expedited processes, optimized workforce allocation, and tangible financial gains. The wide-ranging and significant benefits associated with this approach have prompted CFOs worldwide to adopt finance process transformations. However, given that digital finance transformation involves end-to-end enhancement of processes, methodologies, and business practices, it can be a considerably challenging undertaking. While the scope of work required to execute finance transformation effectively may seem daunting, failing to take action could result in your company losing valuable ground, a risk that is unacceptable in today’s competitive and unforgiving markets.

1. Automate digital processes to support finance team growth

As businesses experience growth, they are faced with numerous challenges, and automation has emerged as a crucial necessity. As a company expands and its departments scale, its finance team must undergo a digital transformation to keep up with the pace. Therefore, finance professionals must identify the appropriate digital processes to automate and utilize effectively.

Pavla, whose company manages over 2,200 clients, has identified two critical priorities that require attention. Firstly, billing poses a challenge due to the complex nature of their pricing and billing structure, including payments processing, subscription billing, one-off fees, and transactional fees. To address this, Mews developed an in-house tool for subscription management, which is synced with Salesforce and their financial stack using Zapier.

Secondly, the general monthly close process is a key area to automate early on, as it is a common process in most businesses. With multiple people and dependencies involved, setting everything up in advance is essential to enable closing within five to six days for the full P&L. Pavla recommends Asana and task tracking management to achieve robust results in this regard.

2. Get the right tools for modern finance operations

Quentin faces similar challenges in Double, despite the company being significantly smaller in size. The finance team comprises only one-and-a-half individuals, but the challenges are the same, particularly in terms of billing clients, owing to numerous pricing exceptions and a large volume of data from their systems, as well as monthly closing.

To tackle these challenges, Quentin has adopted a centralized approach, utilizing QuickBooks for all accounting and some reporting purposes. The company’s financial tech stack includes Stripe for invoicing, Carta for employee ownership management, an automated Google Sheets script for billing, and Zapier for connecting most systems. However, Quentin emphasizes the importance of ensuring that all information flows seamlessly and automatically between these systems.

Nevertheless, achieving finance digital transformation requires specific skills, which Quentin acknowledges. Being a technology company, Double has access to engineering resources to make the necessary investments and develop scripts to simplify the finance function, particularly when it is fundamental to the organization.

3. Centralize data from your sprawling tool stack

When Pavla was selecting digital tools for her finance team, she was managing a team of 14 individuals. However, the company grew rapidly, and within four years, the team had expanded to over 300 individuals, which was unexpected for Pavla.

Despite this, Mews still operates on its initial tools, which include Xero, Dext for expenses, and ApprovalMax for approvals. For reporting consolidation, Excel files connected to databases are used, which are refreshed regularly, and they have proven to be stable.

Pavla considers the data warehouse to be a crucial part of the company’s tech stack. Microsoft Azure ETL tools and synchronizers are used to ensure that all of the tools used in the company are connected and stored in a single data warehouse. Although many of the processes that should have been automated with ERP were instead automated through database connections and setups, they have been successful in streamlining the company’s operations.

For Quentin, having a “data lake” that serves as a centralized repository for all structured and unstructured data is critical. This allows for the analysis and manipulation of data in one place. Regardless of the source of truth, building a robust data warehouse allows finance teams to support the digital transformation of their organization as a whole.

4. Build your own digital bots

Johan faces the challenge of scaling Rainbird Technologies’ finance function without incurring additional staffing costs, in addition to the need for more efficient process management. To address this, the team developed a digital finance bot that can “identify R&D projects in the business, similar to how a human would.” Via Slack, the bot communicates with department heads on a monthly basis to flag any new projects as R&D-related or not. The finance bot is being trained to support more of the company’s digital finance transformation, and is continuously acquiring new skills to help scale the finance function, which currently only consists of two members.

5. Hire and develop digital skills

Possessing data-related skills can be advantageous in the early stages of a company. According to Quentin, “many software engineering skills are useful in finance, and there is an interconnection between the two.”

His team has a strong digital presence. “Every role requires a data-driven approach and the use of technology. With regards to my mix of finance and operations, we have everything under one roof and can identify the best person to manage each function as we expand.”

In the future, as the company grows, he plans to hire more experts. “As we expand, we will be able to employ someone who is focused on adding value that we cannot derive from those systems.”

Pavla also agrees with this strategy. Her third hire was a technical student with excellent SQL skills who could create macros and basic automations to support the finance team.

“When they don’t have to export journal ledgers from accounting and then create pivot tables, it makes things much simpler for the rest of the team. They already have a Power BI report where they can just filter out the accounts they need.”

“As soon as feasible, I would recommend recruiting someone with SQL skills, at least for reporting, and possibly annual ledgers.”

As the organization grows, data-related skills become even more essential, contrary to popular opinion. According to Johan, technical hires become more crucial as the company expands. “If I had to recruit someone in the future, it would be a data scientist. I require someone who can evaluate data and extract insights beyond finance.”

Pavla recommends that finance specialists who are unsure how to identify and evaluate the right talents for their team rely on other team members. “Having a fellow developer assist you in identifying that person in an interview can be helpful. I’ve had colleagues who were more technical than I am checking people I was hiring.”

Why is Digital Transformation in Finance Important?

It is imperative for the finance industry to transition to digital practices to remain abreast of emerging technology and cater to consumer needs. While client-facing digital transformation initiatives have already proven to be beneficial, the finance industry still lacks back-office digitization efforts.

Digital transformation has revolutionized the customer-facing section of the industry, whether through AI-powered budgeting services like Digit or instant payment platforms such as PayPal. However, businesses must also focus on digital transformation processes for their back-office operations. This approach makes employees more productive, streamlines business functions, and enhances service delivery. The benefits of digital transformation in finance are as follows:

Reduced Errors and Reporting The finance function is plagued by human errors, regardless of the level of expertise of finance professionals. Simple errors, such as typos, broken links, and outdated data, can cause significant problems. Digital transformation advocates for the use of a single platform that provides a 360-degree view of reports and the numbers therein, making errors easier to spot. Moreover, data is shared and updated within a single system, minimizing the likelihood of outdated data. Centralizing and organizing everything across departments results in reduced errors and better compliance with finance laws and regulations.

Enhanced Security Finance operations require the handling of sensitive data, and finance professionals may not be cybersecurity experts. It is, therefore, the responsibility of CFOs and other leaders to find a system that prioritizes information security. A digitalized system allows sensitive data to be stored in a secure cloud-based system. SaaS solutions that cater to finance teams often offer advanced security to protect sensitive data and restrict access to it, even within a team.

Advanced Analytics Digital transformation empowers you and your team to leverage numbers, formulas, and other critical data to work for you, not the other way around. With innovative machine learning, AI, and real-time data processing, advanced analytics are easily accessible.

Manual review of analytics can be entirely overhauled, leading to improved accuracy and reduced time expended. Automated analytics, adaptable and not dependent on manual processes, can deliver intelligent insights with the right solution.

Improved Employee Performance Providing effective automation and collaboration solutions to your finance team is key to their success. Digital tools streamline repetitive, tedious tasks such as vendor management, cash flow forecasting, accruals, and audit preparation, resulting in improved employee performance.

Optimizing search tools, automating task execution, and enhancing business processes are essential elements of digital transformation. Ultimately, digital transformation provides support to finance teams, simplifying their jobs and increasing operational efficiency.

Key Takeaways for Digital Finance Transformation Despite lagging behind in finance back-office operations, digital transformation is gaining momentum, particularly in light of the recent pandemic. Uncertainty persists, making it crucial to implement digital processes enabling teams to work from home or adopt hybrid work functionality seamlessly with the necessary tools.

23
Mar, 2023

Digital Transformation in the Education Sector – A Guide To Education Technology

The education sector has been rapidly advancing in digital transformation, with further momentum expected in the future. Although the advantages of EdTech outweigh the disadvantages, it is not exempt from challenges. However, with our implementation tips, educators can be better prepared for these challenges.

The prevalence of digital transformation is evident in almost all aspects of life, including the education sector, where various degrees of digital transformation have been implemented. This transformation has given rise to EdTech, a technological industry that includes interactive whiteboards and front-facing projectors.

Many educators are still unaware of EdTech and its impact on education. This guide aims to assist teachers in navigating the ever-changing landscape of digital transformation and EdTech successfully. Check out ViewSonic’s Education solution for empowering classroom collaboration or read on to learn more about the digital transformation in education and how to make the most of it.

Is there any aspect of life that has yet to be influenced by digital transformation and technology? The answer is highly unlikely!

What Is EdTech and the Digital Transformation?

EdTech is an abbreviation for educational technology, which denotes a field of technology used to enhance classroom learning. Although the definition may seem broad, EdTech encompasses a wide range of products and philosophies that aim to modernize education practices, from digital whiteboards and online curriculum management systems to specialized tablets. Reflecting on your own education, you may recall the use of chalkboards, overhead projectors, and physical textbooks. However, with the ongoing digital transformation of the education sector, these traditional tools have been replaced by digital whiteboards, interactive front-of-classroom displays, and tablet-based versions of textbooks, which are all facilitated by EdTech devices.

4 Advantages of the Digital Transformation

In any major transformation of a sector, whether industrial, political, or academic, diverse opinions emerge, often polarized between positive and negative perspectives. In the specific case of the digital transformation of the education sector, proponents often highlight the potential benefits, such as increased opportunities for experimentation, enhanced access to resources, improved efficiency, and the development of valuable life skills.

1. Experimentation and Feedback

EdTech offers increased dynamism compared to traditional educational methods, particularly in terms of on-the-fly quizzes and up-to-date lesson content. The constant connectivity of EdTech provides teachers with tools for unlimited experimentation and nearly instantaneous feedback. They can easily test out new learning tools, assess students’ understanding through quizzes, and seamlessly update outdated lesson material. The digital transformation of the education sector enables educators to experiment whenever they desire and take appropriate action based on the results.

2. Plenty of Resources

EdTech eliminates the concerns of teachers regarding resource constraints. With the integration of an interactive whiteboard’s native software and Internet connectivity, the availability of resources is virtually unlimited. These resources may include media integration, live annotation, and gamification, among others. The teacher’s creativity and technological literacy are the only limitations on the possibilities offered by EdTech.

3. Automation and Efficiency

While education aims to develop young and mature minds, teaching involves various necessary but tedious tasks that can distract from the main goal. These tasks may include grading, attendance-taking, communication with multiple stakeholders, and other administrative duties.

Fortunately, EdTech and the ongoing digital transformation of the education sector provide assistance in streamlining these processes. As with most industry-level technology upgrades, increased automation and efficiency are common outcomes of the transformation. In education, teachers can now delegate administrative tasks to their newly-acquired EdTech tools. As a result, educators who properly leverage these devices may experience more efficient day-to-day teaching experiences.

4. Life Skill Development

Technology is an indispensable aspect of our modern world, and its presence is likely to persist. From job searching to long-distance communication with friends, the use of technology has transformed from an unusual hobby to a necessity in just a few years. This is where EdTech and the digital transformation of the education sector come into play. By introducing students, especially young ones, to these technologies, they are well-equipped for the future. In practice, this includes skills such as source literacy and digital presentation creation. Considering technology use as an essential life skill, there is no better time to acquire such knowledge than during the developmental years of the brain.

3 Challenges of the Digital Transformation

The digital transformation of the education sector has faced criticism from various quarters, raising legitimate concerns. These include the potential for in-class distractions, unequal access to technology among students, and inadequate oversight of digital sources. In the following discussion, we will examine these drawbacks to provide insights on how to address these challenges effectively.

1. Distractions Abound

There are concerns among some individuals regarding the potential for addiction and harm to students caused by the use of technology, particularly tablets or screens. If students are misusing EdTech, it is essential to reconsider the lesson plan to ensure optimal use.

Surprisingly, the solution to this issue might involve incorporating more interactive and engaging elements into the EdTech usage. This might appear counterintuitive, but research indicates that students who enjoy themselves while learning are more likely to engage in active learning.

2. Unequal Access

Inequality is a pervasive issue in our society and extends to access to modern technology. The cost of such technology may be prohibitive for some students, making it imperative for educational institutions to provide necessary tools and resources in a universal manner to ensure equal access to educational opportunities. While teachers need not necessarily implement EdTech at an individual-student level, front-of-classroom tools can be utilized to enhance the overall learning experience. This approach will aid in achieving the ultimate goal of successful implementation of EdTech and digital transformation in the education sector.

22
Mar, 2023

Powering digital transformation through proptech

The real estate industry worldwide, including the multifamily sector, is being disrupted by novel technologies. In this digital era, technology adoption has hastened communication, transactions, and collaborations between individuals, businesses, institutions, and processes, consequently altering our way of living and working.

The notion of properties as interconnected spaces with access to dynamic services has created fresh opportunities for property management firms operating in the multifamily sector. By reimagining buildings as intelligent environments, new software solutions for managing properties more efficiently have emerged.

The advent of smart buildings that integrate with emerging technologies such as IoT sensors and cloud-based property management software has presented novel methods for managing multifamily assets. Moreover, the advent of blockchain technology has transformed our understanding of data security and trust among stakeholders in the real estate transaction chain.

Location-based services and real-time analytics for multifamily real estate

The increasing obsolescence of traditional technologies for communication and workflow management has resulted in the emergence of novel solutions such as augmented reality (AR) and virtual reality (VR), artificial intelligence (AI), machine learning, blockchain, and the Internet of Things (IoT), all of which facilitate novel methods of linking people, data, and systems.

Location-based services have surfaced as a crucial element of these technologies for communication management between individuals and assets. In the real estate sector, location-based technologies have empowered organizations to create real-time analytics for managing assets and workflows, facilitating efficient management of their multifamily investments.

Real-time information provides clients and decision-makers with valuable insights that can guide decisions, enhance service delivery, and demonstrate progress towards objectives and milestones. For example, a multifamily property management company can leverage location-based technology to track assets and individuals in real-time, creating “virtual fences” around each property to monitor ingress and egress.

This capability aids multifamily property managers in safely and securely managing their property, an aspect that is becoming increasingly critical for residents. It also enables property managers to real-time coordination of maintenance personnel and contractors, with all feedback relayed to a secure server for review.

Blockchain for data security and trust in the multifamily sector

Blockchain is a distributed ledger that leverages code and cryptography to track transactions between two or more parties. Although it is widely known for its use in cryptocurrencies such as Bitcoin and Ethereum, blockchain is also revolutionizing various sectors, including finance, logistics, and real estate. Despite the tendency to conflate blockchain with Bitcoin, the technology is much more than just a cryptocurrency platform.

In its simplest form, blockchain technology is a decentralized ledger that enables individuals to create an immutable, shared record of transactions. This technology is secure because each party has a copy of the ledger that is visible to all participants. Any attempt to modify a record is detectable by all parties, ensuring that the record remains unchanged.

The shared ledger provided by blockchain technology addresses the primary challenge of centralized record-keeping: trust. In centralized systems, a single entity (such as a bank or a government) controls the records. However, blockchain allows multiple parties to access a shared ledger where information is visible to all stakeholders.

The use of blockchain technology in the real estate industry has gained significant attention, given the sluggishness of the current real estate transaction process. This is particularly frustrating for tenants, buyers, and sellers who desire a quick resolution. Investors also seek a fast return on their investments.

Blockchain technology is expected to play a crucial role in unifying the real estate industry, supporting and enabling almost all types of transactions, financial or otherwise, to enhance the process for all stakeholders. While numerous technology companies are experimenting with blockchain technology, few have made significant progress in the space. However, the next few years are crucial, given the increasing cost of living that is affecting real estate markets worldwide.

Multifamily buildings as smart environments with IoT sensors

The Internet of Things (IoT) refers to a network of interconnected devices that communicate with each other through sensors, embedded software, and data networks. The transformative potential of IoT technologies is apparent in various aspects of our lives, ranging from shopping to home management. The emergence of connected technologies has been instrumental in ushering in a smart home revolution.

The real estate industry has also leveraged IoT technologies to create intelligent buildings that can enhance building management. By utilizing sensors, IoT systems collect data on factors such as temperature and energy consumption while facilitating the connection of the building with external systems and devices.

IoT-enabled buildings provide new possibilities in building management, such as reducing energy consumption, improving indoor air quality, and enhancing building safety. Commercial real estate has recorded the highest adoption rates of IoT technologies, leading to cost reductions and optimal utilization of space. However, the multifamily sector of the residential real estate market is increasingly integrating IoT systems.

The importance of technology in multifamily real estate

New technologies are causing a transformation in the real estate industry, revolutionizing the way we think about transactions, buildings, and data. These technologies are extending beyond their original purposes to find new applications in commercial and residential real estate.

For instance, virtual reality is being utilized by architects and interior designers to create 3D models of buildings and redesign interiors. In addition, companies such as Matterport are using VR to enhance the property viewing process.

Similarly, blockchain technology, which is typically associated with finance, is now being employed to facilitate secure and fast information sharing. Blockchain is now utilized in property sales, allowing for information about the property, seller or buyer identity, and lending financials to be shared among parties.

As these technologies continue to develop, new proptech solutions will arise to solve persistent issues in real estate. Virtual reality, artificial intelligence, machine learning, blockchain, and the Internet of Things are redefining real estate, establishing more collaborative methods of work, while enhancing data security and trust to create intelligent buildings that can be managed remotely and efficiently.

16
Mar, 2023

Digital Transformation for Logistics- What, Why and How

Over the past two decades, there has been a considerable increase in the adoption of internet and technology. Activities such as emailing, online shopping, ticket booking, and media downloads have become commonplace, resulting in a significant digital transformation in our daily lives. Despite this shift towards online activities, there were concerns that the logistics industry would decline. However, the logistics sector has adapted and caught up with the trend. As evidenced by the delivery of over 85 million products and documents on a daily basis, the logistics industry has undergone a digital transformation.

 

WHAT IS THE MEANING OF DIGITAL TRANSFORMATION?

A digital transformation takes place when an industry incorporates digitalization in all areas of its operations, resulting in a significant shift in the way firms communicate with clients, execute operations, and manage deliveries. This alteration has a profound impact on the industry’s functioning.

As various industries continue to embrace digitalization, the logistics sector has placed greater emphasis on the importance of speed and time, key factors that drive efficiency. Technological advancements have brought about a logistical transformation characterized by faster, leaner, and more efficient operations. Furthermore, the integration of automation services has accelerated the pace of these changes beyond previous expectations

WHY MUST LOGISTICS INDUSTRIES UNDERGO DIGITAL TRANSFORMATION?

The logistics industry is expected to see a global expenditure of $84.6 billion on digital transformation initiatives by 2027 [2]. For multinational organizations operating on a global scale with extensive supply chain operations, digital transformation has become a critical component of their overall business strategy.

In an effort to gauge the level of acceptance of digital transformation across various industries, Telstra Global and The Economist Intelligence Unit conducted a survey of 2,620 business executives in 45 cities worldwide. The survey resulted in the creation of the first-ever Digital Industries Barometer, which measures business confidence in the strength of the local environment for digital transformation in five key areas: innovation and entrepreneurship, financial environment, people and skills, development of new technologies, and ICT infrastructure.

The survey found that the mining, manufacturing, and financial services sectors displayed the most confidence in digital transformation, with cost efficiency (48%) being the primary motivator across industries. The retail industry had the most respondents citing cost savings, while the oil and gas industry had the most respondents citing operational efficiencies. Developing new ideas was the top motivator in the financial services industry. Expanding into new markets was also a significant motivator.

According to the Digital Industries Barometer, the logistics and transport industry ranks fifth out of 11 industries globally, with a digital transformation acceptance score of 6.61.

The transportation and logistics sector is intrinsically linked to various economic sectors, and the increased efficiency of logistics services contributes significantly to overall economic growth, both at the national and global levels.

Despite the potential benefits, the uptake of digital transformation in the logistics industry has been slow until recent years [4]. However, the industry has witnessed the emergence of new competitors that work closely with technology companies. This has led to a market worth hundreds of billions of dollars, and numerous players are seeking to expand their market presence significantly.

In order to achieve end-to-end visibility, the logistics industry is adopting digital back-office operations and logistics processes. Technologies such as Big Data, Artificial Intelligence, Machine Learning, Natural Language Processing, Blockchain, and Cloud Computing are driving the current digital transformation, replacing outdated technology such as AS400 green screens. These advanced technologies have increased supply chain productivity, reduced costs and errors, and have been beneficial to all sectors of the logistics industry, including trucking transportation, international transportation (ocean and air), supply chain management, and shipment tracking.

In the logistics industry, the competitive advantage is gained through speed and time. Due to the technological revolution, both B2B and B2C clients have become less patient, and expect their goods and deliveries to be delivered on time. This is due to the real-time economy, which has been born from a hyper-connected business world, including transportation, logistics, and supply chains. According to research, 76.9% of executives agree or strongly agree that the evolution towards a real-time economy has impacted their business processes [5]. This is not surprising, and if the same research were conducted today (the research was conducted at the end of 2013), the results would be considerably higher.

HOW DIGITAL TRANSFORMATION IS CHANGING THE LOGISTICS INDUSTRY:

Despite the challenges posed by the global pandemic and unpredictable consumer behavior, industries face difficulties in adapting to modern problems and maintaining their innovative edge. According to a 2020 study by FEMA, 40% of small businesses do not reopen after a disaster, and 20% of those that do fail within a year. Thus, there is a growing need for digital transformation to enable organizations to become more resilient in the face of a “black swan” event. Digital transformation offers benefits such as an IoT-integrated supply chain, which can enhance fleet management, demand assessment, and real-time inventory and fleet tracking. Additionally, it provides behavior analytics and customer-centricity by enabling businesses to track user behavior across platforms, providing visibility into the entire first-to-last-mile journey. It is important to note that digital transformation is not a single large-scale event, but rather a process that involves four types of digital change. Focusing only on organizational change can prevent companies from fully leveraging the potential benefits of digital transformation.

The digital age has transformed the logistics and supply chain industry. Businesses are leveraging new technologies like Blockchain, Internet of Things (IoT), Artificial Intelligence (AI) & Machine Learning, Supply Chain Digital Twins, and Big Data to streamline their operations and reimagine their business processes. The benefits are clear – increased innovation, better decision-making, enhanced customer engagement, greater flexibility, and improved automation. Digital twins are virtual representations of logistics positions, assets, stocks, and warehouses, using advanced analytics and AI to simulate the operation of a supply chain, with all its complexities and vulnerabilities. Blockchain enables the integration of disparate business streams onto a single platform, while IoT can help with mechanical and technological maintenance, inventory control, and fleet tracking. AI and ML help address governance issues and data silos, allowing for greater visibility and integration across the network of stakeholders. Big Data and analytics can provide insights into demand patterns, enabling more effective inventory management and workforce planning. Business model transformation involves rethinking how value is created and delivered, potentially switching from physical interactions to entirely digital experiences. Cross-domain transformation leverages an organization’s existing expertise and investments to expand into new business areas. Organizational transformation focuses on fostering enterprise-wide changes via long-term digital transformation, resulting in agile workflows, real-time testing, and decentralized decision-making procedures that promote collaboration and innovation.

LEADING COMPANIES INCORPORATING DIGITAL TRANSFORMATION IN THE LOGISTICS INDUSTRY

The logistics service industry has been profoundly impacted by rapid technological innovation, prompting incumbent logistics service providers (LSPs) to digitize. Industry leaders, such as DHL Supply Chain, FedEx, UPS, and Samsara, have already taken significant strides toward developing, implementing, and diffusing various technologies, which have facilitated the maturation of digital capabilities for their respective companies.

Digital transformation enables logistics companies to track the delivery of goods in real-time, allowing them to identify areas for improvement and increase productivity. It also enables them to optimize travel routes, anticipate delays, and flag deliveries in case of accidents or vehicle loss. Key features, such as preventive maintenance, route and fuel optimization, fleet tracking, and geofencing, can significantly reduce costs and time while increasing utilization rates. Analytical reports, metrics analysis, and KPI measurement can help optimize revenue and productivity and enhance process efficiency. LSPs providing fleet management software are considered best if they utilize analytical metrics, fleet security, maintenance reports, and driver details to monitor the fleet, ensuring longevity and safe driving.

Digitally advanced players, such as Axestrack, headquartered in Jaipur, have created one of the industry’s most trusted “Digital Enterprise Logistics Platforms” by adopting a ground-up approach to transform the Indian transportation industry. Their Unified Digital Logistics Platform goes beyond mere fleet management software and creates an Enterprise Digital Thread that seamlessly carries digital data across different stakeholders and systems. It establishes a digital connection between three key components of the supply chain: Man, Machine, and Material, enabling customers to create, transform, and manage every piece of information about their logistics business “digitally.” In other words, once customers enter the system, they would not need to leave it to perform any manual tasks.

Over the last five years, leading companies have considered Axestrack’s “Digital Enterprise Logistics Platform” to be the most crucial part of their digital business strategies (DBS). These strategies have translated into several projects and initiatives, such as introducing AI-powered control towers to improve safety and delivery compliance levels to 99% using multi-mode tracking, standardizing operational systems, eliminating paper documents from logistics management processes, digitizing contacts with customers and partners through platforms, utilizing predictive analytics to optimize system capacity usage, automating simple transport, warehousing, and value-added logistics processes, and digitizing back-office operations.

FOR DIGITAL TRANSFORMATION, THE RIGHT PATH IS AHEAD

The increasing trend of digitalization across all major economic sectors is a well-established phenomenon, as evidenced by a survey conducted by Telstra Global & The Economist Intelligence Unit [3]. Digital technologies serve as the tools that facilitate this transformation. Given the growing importance of digital technology in the logistics industry, it is imperative that businesses that have been hesitant to embrace this shift reconsider their positions and leverage the potential benefits of digitalization. There is still room for further improvement to simplify the process of digital transformation and enhance the visibility of technology’s significance in the sector. With heightened competition, product price and quality have reached a plateau, and delivery speed has emerged as the decisive factor for end-users

13
Mar, 2023

Mobile App Development Process In 2023

The proliferation of mobile applications in the market continues to surge, with an increasing number of releases each day. Furthermore, the number of mobile devices globally has surpassed the world’s population. Consequently, it is not surprising that by 2026, mobile applications are estimated to generate a remarkable revenue of $233 billion. Given such promising projections, numerous companies are keen on exploring mobile app development opportunities. Some companies prioritize consumer-facing projects, aiming to generate revenue, whereas others opt for enterprise solutions that streamline internal processes and boost operational efficiency.

If your organization is interested in developing a mobile app, it is crucial to understand the app development process. In this regard, we will provide a comprehensive mobile app creation guide based on our experience to help you get started.

Strategy Development

The initial and crucial step in the app development process is defining the strategy, which involves carefully contemplating your app’s objectives, capabilities, and business model. Regardless of whether you are creating a consumer or enterprise app, identifying its primary objectives is essential. To accomplish this, it is necessary to answer critical questions such as the problem the app aims to solve, the target users, and the desired results. Although you may already have an idea for your app, outlining its key objectives will help you stay focused on your goals.

Additionally, researching existing or potential competitors is an integral aspect of strategy planning. Understanding the landscape of similar mobile apps and avoiding mistakes made by others within your industry will help you differentiate your app from the competition. Furthermore, selecting the appropriate platform for your app is vital, whether it is a custom Android solution, an iOS app, or a cross-platform application.

For consumer applications, selecting the appropriate monetization method is also crucial. Depending on your goals and the type of app you are developing, several options are available, including in-app advertising, in-app purchases, subscriptions, affiliate marketing, and paid apps. For instance, a dating app may leverage in-app purchases and subscriptions, while a game app may use in-app advertising and subscriptions. It is worth noting that the subscription-based monetization model is increasingly gaining popularity.

Analysis and Planning

The second step in the app development process involves analysis and planning. At this stage, you should have a clear idea of your app’s purpose, conducted thorough research, and identified a general direction for development. Now is the time to focus on the details to ensure successful design and development.

To begin, you need to define the functional and non-functional requirements for your app. This involves outlining specific actions that your app must perform, such as managing credit cards or generating account statements. Non-functional requirements relate to the quality of your app’s performance and its impact on the user experience.

The next step is to create a product roadmap, outlining a detailed plan for reaching your end goals. You’ll need to identify all of the features you want your app to have and prioritize them, considering which can be added later.

Finally, you must identify the technology stack required for your project. This includes determining which skills and technologies are needed, such as experienced iOS developers for an iOS app or technologies like Titanium and Xamarin for cross-platform development. It is important to have the technology stack aspect of your project determined before moving forward.

UI/UX Design

To ensure optimal user experience, meticulous attention must be given to an app’s design. A cluttered or flawed design can drive users towards competitors, thereby jeopardizing the success of your app. Therefore, it is imperative that your UI/UX design be intuitive, user-friendly, engaging, and provide a seamless experience. In this regard, let us delve into each design area in detail.

Information architecture and workflows are the primary components of the app design process. At this stage, you must define the data to be incorporated in your app, its display, and how users will interact with it. Subsequently, you can create workflow diagrams that help keep track of all user interactions and facilitate easy navigation.

Business analysts create wireframes, which are digital sketches outlining the conceptual layout and visual structure of the app’s functionality. Wireframes prioritize user experience and app aesthetics to ensure that the final product is easy to use and visually appealing.

Style guides are essential to maintain consistency in your app’s design and branding. They provide instructions for fonts, color scheme, spacing, positioning, buttons, widgets, and other design elements, all in a single document.

Mockups are final visual renderings of your app that apply the style guide to the wireframes, ensuring design consistency throughout the app.

Lastly, the UI/UX design process culminates in developing prototypes that simulate the app’s workflow and user experience. This stage is critical to detecting any design or functionality mishaps that may need to be fixed before launch. Despite being time-consuming, prototypes are an essential step in the design process.

App Development

Upon completion of the design phase, the next critical stage of the mobile app development process is the creation of the backend and frontend. The backend stage involves the development of databases and server-side objects responsible for the app’s performance. At this point, the development team selects appropriate programming languages, codes the app, and chooses database engines and a hosting environment. The scalability of the app in the future depends heavily on the backend stage, making it a crucial aspect of the app development life cycle. Engaging experienced software developers can help ensure that your system can scale effortlessly as your user base grows. On the other hand, the frontend is what the end-user will primarily interact with, and there are three approaches to building it: platform-specific, cross-platform, and hybrid. Each approach has its advantages and is selected based on the project’s specific requirements.

Mobile App Testing

After completing the app development phase, it is crucial to conduct thorough testing to ensure the developed solution is stable, secure, and free of bugs.

To deliver the highest quality, the app should undergo five testing methods prior to deployment.

Functionality testing checks the application’s features to ensure everything functions properly. Performance testing assesses the app’s responsiveness and its ability to handle an increase in concurrent users.

In addition to functionality and performance testing, data protection is essential for enterprise solutions like mobile insurance and healthcare applications, while consumer apps must adhere to all security standards and remain loophole-free.

Platform and device compatibility testing is also important to ensure that the app functions optimally on various devices and operating systems.

Finally, an extended review involving focus groups or a beta launch allows the app to be tested by actual users to gather feedback and improve the overall user experience before deployment.

Deployment

When it comes time to deploy your mobile app, different distribution models are available depending on the platform you developed for.

The mobile application deployment strategy is relatively straightforward. You will need to either submit your app to Apple’s App Store or Google’s Play Store, or pursue private distribution.

Both stores require the completion of several forms and the submission of your app for review. It’s worth noting that the App Store is known to be more rigorous in its selection of apps. Therefore, if your iOS-based tool does not meet high standards, you may encounter difficulties.

Alternatively, if you choose private distribution, consider exploring Apple’s Developer Enterprise Program or Android’s Alternative Distributions to determine the best course of action.

Support and Performance Monitoring

After deploying your mobile app and observing consistent downloads by users, it is crucial to analyze its performance by monitoring key performance indicators (KPIs). Some of the significant KPIs include the number of downloads, active users, average visit duration, retention, churn, conversions, customer lifetime value, ratings, and reviews. It is equally important to keep track of crashes, bugs, customer requests, and overall app performance to refine your solution over time. It is vital to note that the work of maintaining your mobile app does not end with deployment, and regular updates are necessary to keep up with evolving operating systems, review guidelines, and performance standards. This way, your investment in the app remains valuable. You may choose to manage the maintenance yourself or partner with a software development company for post-launch support services, taking the upkeep work off your hands.

Key Considerations Before Starting the App Development Process

Before embarking on a software development journey, it’s crucial to consider a few points. Firstly, consider if creating a mobile app is a strategic priority for your business. Developing a mobile application can be a costly endeavor, and it’s important to determine if it aligns with your digital strategy. Secondly, think about the implications of developing enterprise versus consumer-facing apps. The strategic questions will differ based on the end-users. If building an app for the world to try, you must ensure the uniqueness of your solution and its commercial purpose. On the other hand, if your employees are the end-users, their preferences and opinions should be considered. Lastly, determine whether to build your mobile app in-house or outsource to a development partner. The decision will depend on the availability of an experienced IT team within your organization and the ability to take on a mobile app project. If there are no available developers, outsourcing may be a suitable option to build a unique application for your business.

10
Mar, 2023

What is Flutter? Benefits of Flutter App Development

Flutter has the potential to revolutionize mobile application development due to its ability to enable developers to create visually stunning, high-performance, and natively compiled applications for multiple platforms from a single codebase. Its rich set of customizable widgets and tools allow for streamlined development and testing processes, leading to faster time-to-market and cost savings for businesses. Additionally, Flutter’s strong community support and continuous improvement by Google make it a promising technology with a bright future.

 

What is Flutter?

Flutter is a mobile application development framework created by Google that allows for the efficient creation of high-quality, natively compiled applications for mobile, web, and desktop platforms, all with a single codebase.

Flutter is a highly capable and dependable software development kit (SDK) designed for cross-platform mobile application development, which was developed by Google. Flutter leverages the Dart programming language and facilitates the creation of applications for Android and iOS devices. Its cross-platform functionality allows for the utilization of a single codebase to create applications that possess a native appearance and functionality on both Android and iOS devices.

In addition to its cross-platform capabilities, Flutter offers a vast array of creative possibilities that enable the rapid creation of visually stunning applications. Its features and architectural decisions make the development process fast, rendering it suitable for the development of both quick prototypes and minimum viable products, as well as intricate applications and games.

If you seek to develop exceptional cross-platform mobile applications, exploring Flutter would prove to be an advantageous decision.

The Advantages of Using Flutter

Developing separate codebases for native iOS and Android apps can be a significant disadvantage due to the substantial amount of time and effort required. On the other hand, utilizing a cross-platform mobile development framework like Flutter can significantly reduce development time and costs, while also providing greater reach to users globally. Additionally, creating applications that possess a native appearance and functionality enhances the user experience and increases adoption.

As mobile developers, we are often inquired about whether to opt for a cross-platform solution or create a native app. While we provide a thoughtful response, budget constraints typically play a crucial role.

It is noteworthy that the cost of building the same application on separate codebases is typically reserved for well-funded projects, where native performance plays a vital role in defining the user experience.

Flutter is a Google-created UI toolkit used for crafting visually stunning, natively compiled applications for mobile, web, and desktop from a single codebase. Flutter is compatible with existing code and utilized by developers and organizations worldwide.

The advantages of Flutter as a cross-platform mobile development framework include the ability to create web applications that possess a native appearance and functionality on both Android and iOS devices, reduced development time and costs, and heightened flexibility.

Flutter’s inbuilt hot reload feature allows developers to promptly iterate on their applications and witness changes in real-time. Similar to React and React Native, Flutter is free and open-source, enabling its use in creating applications for Android, iOS, web, and desktop from a single codebase without licensing fees or associated costs.

Benefits of Flutter App Development

When it comes to developing a fast, visually stunning, and high-performing mobile app, Flutter stands out as the top choice. In addition, if you aim to reach a global audience, Flutter offers the ideal solution, thanks to its support for internationalization. From a software development standpoint, Flutter presents a multitude of benefits that make it an excellent choice for both businesses and developers. Let’s delve into some of the key advantages of Flutter app development.

Flutter is fast: In software development, time is of the essence, and Flutter’s hot reload feature is a game-changer. This feature allows developers to make code changes in real-time, without the need to restart the app, thereby saving considerable time and reducing frustration during the development process.

Flutter is visually stunning: Flutter’s material design widgets are among its biggest selling points, offering a sleek and modern appearance that is sure to impress users.

Flutter is high-performing: By utilizing the Dart programming language, Flutter apps are compiled ahead of time, resulting in faster and smoother performance on devices.

Flutter is international: As previously mentioned, Flutter provides support for internationalization, a critical feature for reaching a global audience. With Flutter, developers can effortlessly create apps that are available in multiple languages.

Flutter's Headless Testing Framework

Flutter features a headless testing framework that enables developers to test their applications on devices without a graphical user interface (UI). The framework is based on the dart:ui library, which grants low-level access to the Flutter engine, including rendering, gestures, and animations. By leveraging this library, the headless testing framework can execute a test suite on a device without a UI, starting up only the minimum number of widgets needed to create an isolate.

Because the headless testing framework doesn’t require a simulator or emulator, it is an excellent option for automating the testing of mobile applications. This allows developers to run their tests on real devices, making it easier to identify errors that may only appear on specific configurations. Additionally, the isolated nature of the tests makes them exceptionally fast, with developers being able to run thousands of tests within a few minutes.

Hot Reload Feature in the Flutter Framework

Flutter provides a powerful hot reload feature that allows developers to view the effects of their code changes in real-time, without the need to restart the app. Hot reloading is particularly beneficial for fast and efficient iteration during the development process.

For instance, when implementing a new feature, developers can modify the code and instantly view the changes on a simulator or emulator, without the hassle of restarting the entire application. This time-saving feature streamlines the development process and enables developers to quickly fine-tune their code.

Experiment More

Hot reloading also enables developers to experiment with various UI designs or implementations without having to begin from the beginning each time. For instance, if you’re testing a new button design, you can simply make the modifications in your code and observe the outcomes immediately. This functionality helps you to save time and streamline your development process by avoiding the need to start from scratch each time you want to try something new.

Faster Development

The ability to view the results of your code changes without restarting the app can greatly accelerate your development workflow. This feature eliminates the need to repeatedly compile your code, which can be time-consuming, particularly for large-scale projects. Consequently, you can save valuable time and improve productivity.

Catch Errors Sooner

Hot reloading can also aid in identifying errors sooner, thereby improving your workflow. If an error occurs due to a change made in the code, it can be detected instantly on the emulator or simulator. This can accelerate the debugging process and lead to quicker resolutions.

6
Mar, 2023

Choosing Between Node.js and Java for Application Development

In the world of software development, choosing the right programming language is crucial for the success of any project. Two popular options for building robust and scalable applications are Node.js and Java.

Node.js is an open-source, cross-platform runtime environment built on Chrome’s V8 JavaScript engine. It is designed to build scalable network applications and is particularly suited for building real-time, data-intensive applications. Node.js offers several benefits, including a non-blocking I/O model, which makes it an excellent choice for building fast and responsive applications.

Java, on the other hand, is a high-level programming language that is used to build large-scale, enterprise applications. Java offers several benefits, including robustness, portability, and a large community of developers. Java is also known for its performance and scalability, making it an excellent choice for building mission-critical applications.

When deciding between Node.js and Java, several factors should be considered. For instance, if the project involves building a real-time, data-intensive application, then Node.js is an excellent choice. However, if the project involves building a large-scale, enterprise application, then Java may be a better choice. It is also essential to consider the existing infrastructure and skillset of the development team when making a decision.

A Quick Comparison Between Java And Node.js

Areas
Java
Node.js
Performance
Very low. However, performance can be enhanced by using JIT compilers.
Runs faster compared to Java without any buffering.
Security
Highly secure. There are no vulnerabilities, except the ones from integrations.
Vulnerable to denial-of-service (DoS) attacks and cross-site scripting. It lacks default risk management.
Coding Speed
Needs greater definitions and is time-intensive for developing applications.
Lesser time for application development, as it is lightweight and more flexible.
Development Cost
More affordable than Node.JS. Cost may vary depending on the option of outsourcing.
Greater than Java.

More Differences between Node.js and Java

Java and Node.js are both popular programming languages that are widely used for web development. While there are some similarities between the two, there are also some significant differences to consider.

  • One fundamental distinction to make in this comparison between Node.js and Java is that Java is a compiled language, while Node.js is an interpreted language. This means that for Java, the code must be compiled before it can be run, while with Node.js, the code can be run directly without prior compilation.
  • Another important difference is that Java is a statically typed language, while Node.js is dynamically typed. In Java, variables must be declared with their respective types before being used, while Node.js allows variables to be used without explicit type declarations.
  • Node.js utilizes a single thread to handle all requests, which enables it to manage a high number of concurrent requests with ease. Java, on the other hand, uses multiple threads, making it capable of handling multiple requests but not as efficiently as Node.js.
  • Node.js is considered to be lighter and faster than Java, which makes it a preferred choice for building quick and responsive web applications. On the other hand, Java is considered to be more heavyweight, making it a better choice for developing larger and more complex applications.
  • Lastly, Java is a versatile general-purpose language that can be used for a wide variety of tasks, while Node.js is specifically designed for server-side development.

What to choose between Node.js and Java?

The comparison between Node.js and Java is a highly debated topic in the programming community. Both languages are widely used and have their respective advantages.

Node.js is a JavaScript runtime environment designed for building scalable network applications. It is known for its speed, efficiency, and the extensive community support, which is continuously developing new modules and tools.

Java, on the other hand, is a versatile language that can be utilized for a wide range of applications, including web and desktop applications. It is highly supported and boasts a vast library of useful tools and resources.

Selecting the right programming language largely depends on your specific needs and requirements. Factors such as the type of application you intend to develop, the size and complexity of the project, and the available development resources all play a significant role in determining the most suitable language.

In conclusion, both Node.js and Java have their advantages and are highly regarded in the programming community. It’s essential to carefully consider the project’s requirements and the available resources before selecting the most appropriate programming language.

When to choose Node.js over Java for Application Development?

Node.js has experienced substantial growth in recent years, becoming increasingly popular not only among startups but also among larger organizations. Several technology giants, such as Amazon, LinkedIn, and Netflix, have adopted Node.js as their preferred application development environment. However, it is essential to understand where Node.js can be used most effectively to leverage its full potential.

  • API Applications: For API applications that use both non-relational and relational databases, Node.js is the preferred choice for development. This is because Node.js operates on a single thread, enabling it to handle tens of thousands of users while asynchronously processing blocking input/output tasks, such as database access, via internal threads without interfering with the primary thread. These features of Node.js make it ideal for handling large numbers of requests and running database operations.
  • Microservices: Building microservices is another area where Node.js has shown great promise. Its event-driven architecture allows for decoupled microservices, making it a popular choice for segmenting large-scale systems into smaller parts and deploying them independently. Node.js has supported many organizations in building and deploying microservices effectively.
  • Real-Time Applications: Node.js is also ideal for real-time applications due to its high performance and fast deployment speed. It can handle heavy traffic of numerous short messages in a streamlined manner and can also be used to build applications that allow displaying messages to multiple users simultaneously.
  • In conclusion, Node.js is a versatile and powerful tool for application development, with specific strengths in API development, microservices, and real-time applications. By leveraging these strengths, organizations can build robust and efficient systems that can handle high volumes of traffic and perform complex operations with ease.

When to choose Java over Node.js for Application Development?

Java is a versatile and widely used programming language that is preferred by both small and large organizations for developing software applications that are critical for their business operations. Here are some key areas where Java is particularly preferred:

  1. IoT Applications: Java has been instrumental in the development of IoT devices that require low-energy CPUs. Its versatility and automated memory management make it easy for developers to implement memory confinements, thus preventing overloading of low-powered hardware.

  2. Big Data: Java is a popular language used in the Hadoop ecosystem and is considered to be a powerhouse in the Big Data landscape. IT professionals who are interested in Big Data need to upskill themselves in Java to be proficient in the field.

  3. Enterprise Applications: Java is widely used in the development of enterprise applications, with many Fortune 500 organizations leveraging it extensively. Its resilience, security, and extensive documentation make it an ideal choice for enterprise applications. Additionally, Java supports a wide range of libraries, which is beneficial for developing custom solutions to meet specific business requirements.

Quick Answers to Questions Asked on Node.js and Java

Java and Node.js are two popular programming languages used by developers to create web applications. While Java has been around for decades and is a general-purpose language that can be used for developing any type of application, Node.js was specifically designed for use with the browser and allows developers to run JavaScript on the server-side.

One advantage of Node.js over Java is its asynchronous event-driven I/O model, which makes it faster and more efficient for running JavaScript code without the overhead of the Java runtime environment. Additionally, Node.js has a large ecosystem of libraries and frameworks, making it easier for developers to build scalable web applications.

When it comes to security, Java has a proven track record of being secure when used properly. It has been used as a language for developing enterprise-level applications for over two decades and has many libraries written with security in mind, making it easier for developers to integrate them into their code without worrying about vulnerabilities or other security issues. While Node.js is also secure, its security depends on the developer’s ability to follow best practices.

In conclusion, the choice between Node.js and Java for development depends on the specific requirements of the project. Node.js is a great choice for developers who want to create fast and scalable web applications, while Java may be better suited for those who want to create any type of application or prioritize robustness and security in their code.

3
Mar, 2023

WHAT TECH STACK TO CHOOSE FOR YOUR OUTSOURCING PROJECT

If you are considering the development of a web or mobile application for your company, it is important to understand the key tools that developers utilize in such projects. This is because the technology stack employed can significantly impact both the speed of application development and the ability to scale the product in the future. Additionally, it can influence the cost your company incurs for project support and maintenance.

To streamline the process of selecting a suitable technology stack for your web or mobile application in 2022, we have compiled an overview of the most essential tools utilized by popular applications such as Netflix and Airbnb. By referring to this guide, you can save time and effort that would otherwise be spent on searching for the ideal tech stack for your project.

What does a Tech Stack mean?

A Tech Stack refers to the collection of software tools utilized by developers to construct an application, including software applications, frameworks, and programming languages that are responsible for implementing various aspects of the program.

In terms of its composition, the tech stack is comprised of two essential components – the front-end or client-side and the server-side or back-end.

Web applications resemble websites that can be accessed through browsers, allowing users to utilize them without the need for downloading them onto their devices. The technology stack for web applications leverages system resources, necessitating the consideration of a combination of front-end and back-end technologies to develop a web product.

In contrast, developers construct native apps designed for a specific platform or environment, where their code and data cannot be utilized elsewhere. To access these applications, users must download them from the app marketplace.

Therefore, when constructing a native app, it is important to consider the use of platform-oriented technologies and tools, such as Swift and Objective-C for iOS and Java or Kotlin for Android app development.

Let us delve further into the tech stacks required for both web and mobile app development processes.

Tech stack for a web software

The back-end technology stack is responsible for ensuring the smooth operation of the internal workings of an application or website. It is particularly crucial if the site features anything other than simple, static HTML-coded pages. The tools that developers use for the back-end stack include various programming languages such as Python, PHP, and JavaScript, frameworks like Ruby on Rails, Flask, Django, Swift, or Objective-C, databases such as MongoDB and MySQL, and server providers like Apache, Nginx, and others.

In contrast, the front-end technology stack determines the user’s experience when they interact with an application or website. Thus, the primary focus of the front-end stack is to provide an accessible user interface, a convenient user experience, and clear internal structures. The appropriate technology stack for the front-end or client-side of web software consists of HTML, CSS, and JavaScript.

HTML is responsible for organizing and placing data on the page, serving as the backbone of the front-end stack. CSS is responsible for presenting the data, including features such as colors, fonts, background, and layout peculiarities. If interactive features are required, developers can choose JavaScript, which can be controlled via libraries such as jQuery, React.js, or Zepto.js, integrated into frameworks like Ember, Backbone, or Angular.

The tech stack for an iOS application

When developing an application for Apple devices, it is essential to find a team with expertise in Objective-C and Swift, the primary programming languages used in the iOS software development process. Additionally, developers may consider utilizing integrated development environments like JetBrains AppCode and Apple’s Xcode. Let’s examine the iOS technology stack in greater detail.

Objective-C is an established open-source framework that utilizes pointer concepts similar to C and C++ programming tools. It has been widely tested and is reliable, with numerous third-party frameworks available.

Swift, on the other hand, is a newer framework released in 2014 and is commonly used for iOS product development. Swift’s advantages include faster coding, better memory management, code reusability, and simpler debugging when compared to Objective-C. For instance, our team recently used Swift to develop Nioxin, a product for hairstylists. To learn more about this project, please follow the link.

Xcode is a powerful open-source development environment that integrates with the Cocoa and Cocoa Touch frameworks. It includes numerous developer tools for building apps using Objective-C. The Xcode software package comprises a text editor, compiler, and build system, enabling iOS developers to write, compile, debug, and submit their apps directly to the Apple app store.

Another iOS app code editor for Swift, Objective-C, C, and C++ is AppCode. Similar to Xcode, it offers faster coding, improved file navigation, editor customization, and other advantages.

The tech stack for an Android application

Java is an object-oriented programming language that is widely used for Android projects and is particularly popular among prominent companies such as Google and Yahoo. When developing an Android app, developers can use the Android SDK, which provides a plethora of libraries for data structure, graphics, mathematics, and networking to facilitate the creation of their application.

Kotlin is another programming language that has gained widespread popularity among Android app developers. It is commonly used for developing server-side applications, and one of its primary advantages is its ability to reduce the amount of necessary code. This feature is particularly useful in situations such as findViewByIds, one of the most frequently executed operations in Android development.

Android Studio is the official Integrated Development Environment (IDE) for developing Android projects. Android Studio provides developers with a variety of features, including code writing and debugging capabilities, to enhance their productivity and make the development process more efficient.

Important considerations about the technology stack in 2023

Scalability is a crucial aspect of software development, and the tech stack serves as its foundation. Although tweaks can be made according to operating results, the tech stack must have the necessary elements to support scalability.

There are two types of scalability: vertical, which involves adding more elements and data to an application, and horizontal, which involves the ability to run on more devices. Both types are equally important to make a product effective and successful.

Performance plays a critical role in software development and comes from two sources: business requirements and the technology’s capabilities. Operating characteristics and requirements depend on how fast the system can react and how many requests it can process at what rate.

Maintaining strict operating characteristics requirements is vital when choosing the tech stack since the entire operation must react to thousands of events at millisecond speed. Therefore, picking the most reliable option is essential.

Budgeting for the tech stack is one of the most challenging aspects of software creation. It demands significant financial resources, including hosting costs for product data, developers’ salaries, technology education and licensing fees, and subsequent maintenance costs. The trick is to manage to balance things out, avoid bloating, and overspending for the tech stack wherever possible.

Things to consider when hiring an app development company

Various types of applications require different tools and technologies. Web development projects, for example, involve a range of backend and frontend technologies and tools, whereas iOS and Android projects typically use a single coding language.

When seeking development services, it is not always necessary for you or your company to participate in the selection of technologies and tools. However, factors such as agility, operating characteristics, and costs are crucial to the success of your project. Therefore, do not hesitate to ask your developers about the technologies they plan to use to validate your business idea. They will provide you with a clear understanding of the pros and cons of the selected tech solutions.

2
Mar, 2023

Outsourcing vs. Insourcing: Which one is the best solution for your business?

Outsourcing refers to the practice of engaging an external organization, distinct from one’s own, to carry out specific tasks. Insourcing, on the other hand, is a business practice that involves conducting operations within the infrastructure of the organization. The fundamental distinction between outsourcing and insourcing lies in the manner in which work, projects, or tasks are allocated among different companies and departments for strategic purposes.

Outsourcing

Outsourcing is the practice of utilizing the workforce and resources of an external organization to perform tasks and services, including manufacturing products. Typically, the primary motivation for outsourcing is cost savings. Many industries, including healthcare, travel, transport, energy/utility companies, retail, and government, often rely on outsourcing to complete essential projects or tasks.

One of the key advantages of outsourcing is that it enables companies to concentrate on their core business operations. By outsourcing non-core activities, organizations can enhance their efficiency and productivity. However, outsourcing can impact various jobs, such as customer support, manufacturing, technology, and back-office functions.

The use of outsourcing versus insourcing can affect an organization’s control over its operations and decisions. When outsourcing a particular service or manufacturing process, an organization has minimal managerial control over the methods employed by the external organization hired for the project. For example, a company known for its exceptional customer service may not have the authority to manage how an external support center interacts with customers.

Insourcing

Insourcing is the practice of assigning a project to a person or department within a company rather than outsourcing to an external person or organization. It involves utilizing the developed resources within the organization to perform tasks or achieve specific goals. For instance, an organization might opt to insource technical support for a new product, leveraging existing technical support resources already present within the company.

Moreover, insourcing typically involves bringing new operations and processes on-site within the organization. As a result, it can be more expensive than outsourcing, as it often requires the implementation of new processes to establish a new division within the company.

Which One Is The Best Solution For Your Business?

Insourcing and outsourcing are two distinct approaches that businesses use to manage tasks, projects, or continuous operations. Outsourcing involves hiring external third-party service providers, such as payroll firms, to complete specific functions. Conversely, insourcing involves delegating all tasks, projects, or continuous processes to internal employees, including hiring new talent or creating new departments if necessary.

One of the most common applications of outsourcing is for payroll processing. For example, smaller businesses without the resources to create a payroll department or staff with payroll expertise may choose to outsource this task to a specialized payroll firm.

Businesses may opt for outsourcing over insourcing for several reasons, including reducing the costs associated with hiring new employees, minimizing workloads on internal teams to avoid burnout, allowing employees to focus on core business functions while external parties manage less critical operations, and accommodating new needs that arise due to scaling.

However, businesses may choose insourcing over outsourcing as outsourcing may require handing over internal systems and processes to a third party, which can pose significant risks when dealing with sensitive information. Additionally, communication can sometimes be challenging to navigate when working with external providers.

If you’re planning to undertake new projects or scaling requires you to develop new processes, insourcing can be an effective solution if your goal is to have everything done in-house. Your internal teams or newly hired talent can take ownership of new tasks, bring them to fruition, and contribute to your business’s overall success.

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