Is working with a remote tech team for long sustainable? Here’s why most companies are adopting the remote model.

A survey by Owl labs reveals 59% of employees would be more likely to choose an employer who offered remote work compared to those who didn’t. So, perhaps the question of ‘whether remote-work is sustainable’ is rather misplaced and should fact me ‘how can you establish a sustainable remote-work model in your organisation?

While several businesses have transitioned into a remote or hybrid setup, business managers need to be aware of a few caveats this move bears. But once these challenges are addressed, the business impact of embracing remote work can be astounding. We have already discussed why having a remote workforce makes good business sense. 

But, long-term success requires a planned approach and a sustained effort to transform the organisational culture.

But if it’s so much effort,  why are businesses adopting remote working in the first place? Think of less office workspace, fewer rentals, less commuting, fewer trips, higher productivity and greater employee focus- when you look at the perks and incentives for both employees and employers, remote work starts seeming more effortless than an office setup with full strength. 

So, how can businesses make remote work sustainable

By enabling employees to work from different cities around the world and change their compensation accordingly, remote setup can save larger organisations millions of dollars. The only need is that businesses make their initial investment in establishing the right processes in place. 

Let’s go through some solutions that can help us face the special challenges of remote working and make it healthy and sustainable for the long run:

Plan it: Of course, the success of remote work depends on having a solid plan. The move to a remote setup requires close collaboration with other organisational executives, feedback from the team on the goals, and provision of the necessary equipment.  Establish processes, methodologies, and protocols to be followed for all day-to-day operations so that everyone who joins your projects is aware of the entire modus-operandi and can do their bit as desired. 

Build the right digital infrastructure: Remember that providing the appropriate tools is perhaps the most crucial step in guaranteeing the successful operation of a remote model for any firm. In order for smoother collaboration, you might need to invest in the right software that can allow teams spread across geographies to communicate and collaborate effectively. Integrated tools that can easily be accessed  Businesses can use various solutions managed by professionals like iView Labs that can guide their operations in the proper direction. 

Master the hiring and training process: Working remotely is no exception to enhancing employee performance through learning and skill development. There are several ways to set up and manage remote training depending on the needs of a business, and the procedure works differently for different organisations. Making all training programmes accessible while maintaining their engagement is a great place to start.

A remote recruitment service can look for specialised abilities and experience matching an organisation in time-friendly countries. You can consider having a reliable recruitment partner to manage your remote workforce needs. This will help businesses master their onboarding and training process. Remote recruiters increase the talent pool by looking for prospects everywhere. 

Take care of employees: Remote work raises stress levels by disrupting work-life balance or escalating friction between work and personal life, according to a study. Many studies have shown that people who work remotely often struggle with overworking, increasing their labour hours. So you need to ensure that you touch base with your employees regularly, understand their challenges and find ways to address them on a continuous basis. 

Remote work is not just sustainable for your business but also for the environment

Lockdown memories of rush-hour silence, and fading haze at dawn during the pandemic support the notion that remote working intrinsically benefits the environment. Consider commuting: transportation is the biggest source of greenhouse gas emissions. 

Eliminating millions of people’s daily commutes and replacing them with WFH policies appears to be a simple climate win. Reduced foot traffic in large corporate buildings can cut paper, furniture, and food waste. As a result, WFH may have a net positive impact on waste management techniques. 

Furthermore, organisations can simultaneously increase employee productivity while reaching sustainability objectives by implementing sustainability policies that provide co-benefits (such as financial and environmental rewards).

Remote working is more likely to stay than not and will become an even more important part of how we operate in the future. Businesses should begin preparing for this “return to the new normal” as soon as possible.

[Footnote] 

At iView Labs, we offer technical team talent on demand to supplement or add to businesses’ current capacity and meet their needs for technical development. In accordance with the talents required by the business, we match, build, manage, and operate their technical teams for a more sustainable functioning. This broadly fits with the core principle of the digitisation movement, in which technology should ease your life and allow free creative minds to reach new heights. Rest assured that our team will continue to put our best foot forward to deliver astounding results. Want us to become a part of your growth journey? Get in touch today.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs, just write us an email at info@iviewlabs.com and sales@iviewlabs.com. Download the latest portfolio to see our work.

Why Every Finance Institution Has to Be a Fintech Institution

“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese.” 

~ Chris Skinner

A study conducted by the American Bank Chase highlighted that 4 out of 5 customers prefer managing their money using a smartphone instead of going to an actual physical bank. As modern technologies, ideas and inventions shape the field of finance, the financial institutions that continue to resist this inevitable force are sure to get swept away. Advancements such as artificial intelligence (AI), blockchain and the Internet of Things (IoT), mixed with an extremely volatile market and ever-changing customer demands, all play a critical role in redefining the services provided by financial enterprises. 

Fintech symbolizes the harmony between finance and technology that is changing the way we transact everyday. Fintech app development and fintech mobile platforms have become globally trending topics. As customer expectations increasingly hover around technology-led services, any bank, insurer or asset management organization looking to stay relevant and thrive in the market needs to become a fintech institution. 

Fintech Application Development

Finance companies aiming to compete in a highly digitized environment need to promptly develop and integrate fintech applications into their line of services. The ability to leverage devices such as laptops, tablets or smartphones to perform financial tasks and transactions has immensely shaped the modern user experience of the finance industry. 

A research conducted by Finder.com predicts that approximately 78% of the United States millennial population will become digital banking users by the end of 2022. Furthermore, a study published by The Fintech Times suggests that the mobile contactless payment market will rise by 40% to reach a staggering $3.516 trillion by 2023, further increasing to $4.6 trillion by 2025. These numbers strongly suggest that fintech mobile app development should be at the forefront of every finance institution.

Fintech applications can refer to a wide range of products; banking applications that allow money transfers and bill payments, stock trading platforms, loan apps and even applications with an integrated payment gateway system are all fintech subdomains. The cost of developing a basic fintech application with a simple user interface generally ranges between $30,000 to $50,000, a potential bargain given the limitless heights this industry is expected to reach.  

Starting a Fintech Application Development Company

In our post-pandemic era, the fintech market continues to grow year-on-year as digital money management, transfer and payment options gain greater relevance. According to a recently published Promontory Interfinancial Network survey, 76% of 543 senior management professionals in traditional banks fear the emergence and widespread acceptance of financial platforms such as Apple Pay, PayPal and Venmo. With the global economy embracing the wonders of fintech, now would be the ideal time to enter this blooming industry.

When you start your fintech company or begin developing an application fit for the fintech economy, there are a few integral steps that you have to adhere to.

  • Study Rules and Regulations: The fintech industry is heavily regulated by a number of complex laws, limitations and requirements. Being a part of this economy requires you to be well versed in privacy laws such as GDPR, the ePrivacy regulation and CCPA according to the state or country that you wish to provide your services in. In the modern fintech industry, there are a number of compliance practices such as PCI DSS (Payment Card Industry Data Security Standard), AML compliance (anti-money laundering), KYC compliance (know your customer) and digital signature certificate that need to be considered as well.
  • Discover Your Niche: The fintech economy consists of a plethora of subdomains ranging from cryptocurrencies and blockchain solutions all the way to simpler personal finance apps. Choosing the correct niche according to the audience you wish to target can be the optimal strategy in finding success in this industry.
  • Choose the Appropriate Tech Stack: After you decide on the type of service you wish to provide, the next integral step is choosing the appropriate tech stack to get you started. Deciding upon the programming languages, frameworks and databases heavily dictates the overall cost and time required for development.
  • Embrace Modern Advancements: AI is tipped to power 95% of all customer experiences in the next decade. Similarly, blockchain business value is expected to surge to over $3.1 trillion by 2030. Embracing these wonderful technological marvels is integral to fintech companies looking to leave a permanent mark in the industry. The future of fintech lies within these advancements.
  • Provide Personalized Services: The fintech market is largely dominated by software powerhouses such as Microsoft, Stripe, Paypal and Venmo. In order to succeed amidst this competition, personalized services to your audience can become a competitive edge. Newer companies such as Mint and Robinhood have focused on carefully crafted experiences and convenient applications for their target audiences in order to gain relevance in the industry.
  • Ensure Optimal Security: Security is the single most necessary feature for a fintech application. Since these platforms deal with large sums of money, customers expect their transactions to be fully secure. Aspects such as data protection and safety can be ensured by utilizing encryption techniques and cloud services.
  • Look to Constantly Improve: To initially test the waters, it can be a smart idea to develop and deploy your minimum viable product (MVP). This basic version of your app can be used to gather public feedback and recommendations. Constantly improving upon this basic product can yield immense benefits.

Key Takeaways

The future of finance is predominantly governed by technology. As modern advancements sweep across the finance industry, embracing this inevitable change is the only way to stay competitive. Transitioning from legacy systems to sophisticated technology-enabled fintech companies is critical for every finance institution. 

With smartphones, laptops and tablets taking over all age segments, developing fintech applications and fintech mobile platforms has become a necessity. Customers demand increasingly fluent digital experiences and catering to these demands is the only way to remain relevant. Ultimately, this technological boom in the finance economy can provide immense opportunities for enterprises aiming to leave a mark, but those who continue to ignore this change are the ones to surely be left behind.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

RPA is the key to Fintech Industry growth

Introduction:

The fintech sector is observing a rapid change with the expansion and maturity of computer processing capabilities. Now information technology can provide advanced software that can perform human-like tasks. To mitigate the scarcity of skilled resources and boost efficiency at minimal cost, the banking, financial services, and insurance (BFSI) organizations are now ready to adopt the latest offering of the automation technology – the Robotic Process Automation (RPA).

As per the global fintech giants, RPA is the convenient choice and mandatory for the industry to take a competitive advantage. As claimed by Gartner, in 2022, the estimated market value of the RPA solution is $2.4 billion, which was $250 million in 2016. And it is forecasted to grow at a CAGR of 33.6% from 2020 to 2027.

What is RPA in banking, and how does it work?

Robotic Process Automation is an automated software that is used for automating different repetitive process flows within the company. In the banking and fintech sector, this specialized software is used to perform recurring, rule-based, and high-volume tasks. 

In the fintech and banking industry, RPA follows a predetermined workflow that provides a guideline to the software robot on what steps to follow precisely. This software understands the proper keystrokes, follows the provided roadmap, and runs the required programs automatically to perform necessary tasks. Several banks and other financial institutions currently utilize RPA in customer KYC, account opening, processing client requests, and other repetitive tasks.

Benefits of RPA in the fintech industry:

There are several reasons behind the success of Robotic Process Automation in the fintech industry.

Comprehensive Insights:

Organizations can get detailed insights into their customers’ needs and the market influencing factor when implementing RPA. These insights are imperative to mark significant growth in this competitive environment.

With the introduction of RPA in business, companies are observing more customer onboarding. This is because there is more time to focus on business development and create attractive and much-needed products and services. Apart from this, RPA is efficient in providing the detailed report of competitors after performing in depth analysis. This can provide you a competitive advantage and through data representation in customized format ease the decision-making process.

Reduced Costs:

Fintech companies are processing vast amounts of bills and invoices every month. A well-programmed RPA can help you save a lot of time and money by automating the invoicing process. Moreover, there is significantly less chance of error compared to humans. Moreover, if taught smartly, these software robots can fill up forms and extract from several banking and financial systems and prepare a financial report in no time.

These all automation are a great money saver for your business. According to studies, implementing RPA in the fintech sector can save 25-50% processing time and cost. Now every sector is striving for higher profit margin and in Fintech, this pressure is more. Financial institutions can generate sustainable profit and mark significant cost reduction through automating maximum processes.

Higher Productivity:

If you want your resources to be more productive and innovative, you need to take them out of the monotonous and repetitive tasks. And the best way is to introduce RPA to perform such activities. You can thus utilize their skills to develop new strategies, foster agile development, and more. These activities not only help to increase their productivity but also encourage them to think out of the box.

Better Compliance:

Banking, financial services, and insurance (BFSI) organizations are set to operate within the guidelines and regulations. Meeting the compliances is a daunting task for businesses, but it is mandatory. A slight misalignment and compliance issue may cause massive damage to the organization.

RPA is a perfect tool for maintaining strict regulations and guidelines. To reduce the business risks, you can perform audit trials of every process through RPA. Moreover, there is no space for errors when the checking is performed by smart software. Even the advanced RPA software can detect fraudulent activities and deactivate the malicious accounts to avoid bad debts. This ensures the enhanced security of customers’ financial and personal data.

RPA Archetypes to transform Fintech Automation:

  •  Robots for verification and validation: Information verification and data validation are important tasks for any financial organization. And a slight mistake can lead to major problems. This automated software can perform real-time authentication and verification processes for external and internal systems. These activities are vital in KYC verification, Customer Due Diligence, and other processes. Such automation can quickly transform error-prone operations into a smoothly running activity.
  • System interoperability robots: As the technology is changing every day, it is imperative to adopt the latest one to stay in the competition. In the way forward, the crucial part is to integrate the legacy systems with the advanced, and a lot of data migration takes place. Integrating (RPA) robotic process automation tools can bridge the gaps and perform the cumbersome data migration task without any error.
  • Scheduled robots: There are several banking events that operate until a particular event occurs. The scheduled automation robots are hardcoded and delivered when it is required. In this way, you won’t miss any deadline or can resolve any issue in a big rush.
  • Data input robots: This type of automation can synchronize the data without much time and labor. RPAs can perform human-like activities in data management like system login, searching the data, copying and inserting the records in the perfect place in an error-free manner. It improves productivity and saves a lot of recurring costs for the business.

Parting thoughts:

The fintech sector is facing tremendous pressure to improve its process, boost its efficiency, and cut down its operational expenses to improve the profit margin. Implementing Robotic Process Automation is the only way to make this sector future-ready.

Many financial institutions have already implemented this intelligent automation as these are quick solution providers, easy to implement, and cost-efficient compared to large-scale transformations. If properly implemented, RPAs can offer huge benefits, and this is the call of time for the banks, fintech, and other financial entities to adopt RPA into their solutions.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How Blockchain Manages Data?

Introduction:

Blockchain technology is nowadays snatching the attention of every digital and print media. With the increasing popularity of cryptocurrencies, the technology behind them is also attracting the tech-savvy world. Though blockchain was initially invented to develop bitcoin, its immense usability in other aspects is now attracting several industries, from healthcare to fintech. 

Nowadays, data is the most valuable asset. Technology experts and data scientists have observed that one of the most viable usages of blockchain is in the data management sector. And the most exciting aspect is how blockchain helps make data management more secure and efficient. Let’s have a look.

What is blockchain?

Blockchain is not as easy as it sounds. But in a simplified form, we can explain blockchain as a distributed and decentralized ledger or register where all the transactional records are stored in a structured format in a database. Blockchain is an amalgamation of two words, “Block” and “Chain.” “Block” represents the transactional records or data, and “Chain”- which is a combination of database networks connected through peer-to-peer nodes. It is a highly secured “digital ledger,” unalterable, and can be shared within the network like we use Google Docs. Anybody in the network can see and modify it, but all the activities are tracked in real-time.

In the blockchain, it is vital to understand that you cannot transfer the data but rather distribute the information among all the interconnected devices, also known as nodes. That’s why blockchain has a permanent record of every transaction and information, making it the most secure data management platform.

Why use blockchain for data storage?

The current problem:

The traditional data storing concept is mainly concentrated on cloud storage. There are some advantages to using the cloud for storing massive amounts of data. But it also brings several problems for users in the data management which are

Low security: The major disadvantage of the current data management system is that all the information is located on a centralized platform. This increases the risk of data vulnerability. 

Mutability: Another drawback is during the transaction, the data is not encrypted, which makes it easier for hackers to tamper with the data. 

Unclear Traceability and Authenticity: The current cloud system cannot offer any robust process to trace the source of the breach. It always raises the question of the authenticity of the data.

With the use of blockchain:

  • The data is stored in a decentralized manner where every involved party can control the data. 
  • Blockchain offers transparency of the data, which is visible to everybody.
  • Blockchain provides tamper-evidence of the data. When a datasheet or information is changed, the blockchain captures each and every transaction, which you cannot delete.

How is data stored in a blockchain?

Data storing in the blockchain system takes place by using decentralization and cryptographic hashing. Blocks are the units or primary building components of a blockchain. Putting one block upon another generates a chain of blocks containing a data link system. Let’s have a step-by-step look.

Step-1: let’s assume that the blockchain is a wall of bricks and the starting brick on the base is the initial block for the blockchain.

Step-2: The next block stores the information about the unique hash of the previous block.

Step-3: The block stores the data and information inside it, and a hash is generated for the unique data.

Step-4: Likewise, every block preserves unique data, and therefore, a different hash is generated for every block.

Step-5: Now, if any change occurs in any data, it triggers a change in the hash key of that block. This changed hash key now cannot be fitted with the next block of the chain, and therefore, consecutive change in the data of the next block is required. 

Step-6: This function triggers a simultaneous change in every block of the chain, which ultimately restricts the overall tampering of the information in the blockchain.

Benefits of blockchain for data management:

Protection of critical data: 

With the advent of digital revolution, the number of cybercrimes has also drastically increased across the globe. And there is a good reason for everyone to be worried about the exploitation of their personal data. According to the Cybercrime Magazine, by 2025, cybercrime will cost $10.5 trillion per year worldwide. Hackers are not only targeting the giant organizations, but also MSMEs are getting affected by cyber-attacks. 

Stringent security measures like implementing blockchain technology can provide considerable security to the data at every level. Though it is not full proof, the chances of data breach can be reduced significantly.

Data quality:

As we are moving into a data-driven world, which is more important is the quality of data. Every organization analyzes a giant pile of data for their business growth. And if the study is done on poor quality data, it may lead to destruction. 

In the blockchain network, every piece of data is analyzed and cross-checked thoroughly before adding it to the next block. This extra layer of scrutiny ensures that the information must have superior quality or the data get rectified before passing on to the following receiver block. Gartner says that organizations will have 50% more high-quality data in their system through blockchain smart contracts.

Data Traceability and transparency:

Traceability and data transparency are now essential for every industry to grow in the competitive market. In Healthcare, food, manufacturing, pharmaceuticals, and the supply chain, every industry is struggling to get complete visibility of the data and track it on a real-time basis. To meet the high customer expectation of minimum lead time, organizations are now able to improve their efficiency by implementing blockchain in their system. Through blockchain in the supply chain, all the stakeholders can securely access the shared ledger data without any fear of tampering.  

Critical data Sharing:

Data sharing without fear of losing or tampering is a tough job. The legacy systems do not provide this facility, and here comes the blockchain application. Through its decentralized nature, blockchain allows to share information to every party involved. Interestingly, by its inherent nature, everybody with a permission can see it but cannot alter it, making it more trustworthy.

The Bottom Line:

Recognizing the exceptional benefit of blockchain technology in data management, organizations are adopting it very fast. With the increase in internet usage, the chances of a data breach will also shoot up. Before it is too late, it is vital for businesses like you to implement this most advanced, highly secured, and efficient technology.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

What is the Role of Technology in Healthcare?

Healthcare is a sector where there is great scope for technological innovation. Due to its essential nature, the healthcare industry is only going to grow, and the demand for technological solutions to refine healthcare systems and processes is only going to expand. In addition, new and exciting developments in fields like communications, data analysis, biotechnology, blockchain etc., can help hospitals and doctors provide the best and most efficient solutions to patients.

In this article, we’ll be discussing some of the emerging trends related to the role of technology in healthcare. 

Big Data Analysis

Due to the extensive increase in the need for medical facilities in recent days, integration of big data analysis in the healthcare industry has become very important. 

Due to extensive increase in need of medical facilities in recent days, integration of big data analysis in the healthcare industry has become crucial. Some of its applications are:

Efficient hospital staffing: By studying the past and present admission rates, hospitals can estimate the future admission rates. Based on this, they can take decisions as to how many staff to hire and which facilities they should be assigned to.

Error-proof medication: Data analysis systems can flag any errors or inconsistencies in the treatments or medicines assigned to the patient by studying patients’ medical history. This will be a failsafe against mistakes made by the hospital staff.

Preventive care: Again, by analysing patients’ medical history, systems can detect the early symptoms of any medical conditions so doctors can treat them before they reach the serious stage.

Wearable Medical Devices

Wearable medical devices like pacemakers, fitness trackers etc., are a burgeoning part of the healthcare market, and they are expected to form a 27 billion USD market by 2023. Examples of wearable devices are heart rate trackers, calorie trackers, oximeters and fitness trackers. These devices provide medical information about the patient in real-time and can provide advance warning of major health issues. 

Fitness trackers give the patient a sense of responsibility and give them control over their own health. Since they can directly see their activity level, they are encouraged to exercise more to reach some tangible goals. By adding rewards, alerts etc., these trackers “gamify” the fitness process and make it less of a chore for patients.

Virtual Reality Tech

Some doctors are using VR tech to provide relief to patients with chronic pain issues. Since pain is felt in the brain, distracting the brain with VR or other engaging tasks which require a high level of participation and interest from the patient can reduce their pain levels. 

Another application of VR tech is in reducing the anxiety levels of patients who are about to undergo surgery. By distracting the patients through virtual reality, doctors can take their thoughts away from the impending surgery, thereby reducing stress and anxiety levels and improving mental health and wellness.

Apart from helping patients, VR tech can help doctors hone their own skills. For example, doctors can rehearse complicated surgeries in virtual reality and get a better, immersive understanding of the internal arrangement of the human body, including even the smallest organs. 

Blockchain

Blockchain is a major milestone in the field of encryption technology and data security. Keeping the patients’ medical records secure and private is very important for healthcare facilities. This information must also be shared between hospitals when patients are transferred from one facility to another. Blockchain in the healthcare market is estimated to be worth almost 900 million dollars by 2023, showing that hospitals are starting to understand the value of this technology. 

Vendors like BurstIQ and Medicalchain are working to apply blockchain to the healthcare sector. They empower patients to have control over their medical records and are helping hospitals to store, organise and transmit patients’ medical information safely.

Telehealth

Telehealth and online medical consultations have come to the forefront of the healthcare sector due to the restrictions on in-person interactions imposed by the advent of the Covid-19. Even without the pandemic, telehealth comes as a boon to those patients living in remote or rural areas who can’t often travel to the doctor or patients with severe mobility issues (e.g. patients who use wheelchairs or patients suffering from neurodegenerative diseases) who can’t easily leave their houses to visit the doctor. 

Another use case is for patients suffering from contagious illnesses. Despite all the precautions that are taken, there is still the possibility of them spreading the disease. Again, telehealth can be used to treat these patients remotely.

Conclusion

Technology will definitely play an ever-increasing role in healthcare in this new digital age. From empowering people to ensure their fitness, protecting patients’ privacy and medical data, and helping hospitals make more efficient decisions vis a vis staffing and treatment, technological innovations can help doctors and patients in more ways than one.

iView Labs believes in bringing a better version of the healthcare industry at your call, we have a versatile team of developers and consultants to assist you to meet all the innovations you are planning for your healthcare business.

If you are interested in learning more about how to avail of these services, visit www.iviewlabs.com or write to us at sales@iviewlabs.com in case you have any queries. You can download our latest portfolio to get to know us better.

How Estonia is Creating Waves in the Field of Healthcare / How Estonia is teaching the world a lesson in digital health

Estonia has come to be known as a digital-first nation providing its citizens with solutions such as i-voting and e-residency. Furthermore, it has been in the vanguard of digitizing healthcare too. With a population of just 1,328,046, this small EU member is spearheading the digital healthcare phenomenon.

 A favorable place to do business, Estonia welcomes people from all walks of life, due to its agile methods and openness to innovations. It has become the playground for several tech tycoons and healthcare investors. Today, Estonia ranks first in the Digital Health Index with an incredible e-health score of 81.9. It set high standards for Electronic Health Record systems (EHRs) and the rest of the world is anticipated to soon follow suit.

The emergence of Coronavirus was a pivotal phase in Estonia’s Electronic Health Record systems (EHRs) coming to the limelight. While most countries struggled to cope with the outbreak, Estonia’s digital health record systems made it easier for medical practitioners to devote more time to help combat the deadly virus.

Let’s take a closer look at how Estonia is embracing digital life and paving the way for a more comfortable and convenient healthcare system. 

A national database of digital medical records
Almost all of Estonia’s hospitals and doctors have digitized their patient data, allowing citizens to access their medical records with relative ease. There are close to 40 million health documents in the e-Health system. This straightforward procedure has sparked interest, with Denmark and Spain following suit. The EHR system benefits both patients and doctors because it saves time and allows for quick and precise diagnosis.

E-ambulance service at your fingertips

Another advantage of the EHR system in Estonia is the availability of e-ambulance services, which detect the position of the person seeking aid within 30 seconds, resulting in a faster turnaround time for treatment.  It also provides the medical personnel to view the medical records of the patient they are about to save. This enables on-the-spot treatment depending on the person’s previous medical history.

Hassle-free e-prescriptions

Another important digital solution that Estonia has mastered is e-prescription. A warning notice is issued when a doctor recommends a prescription that may interfere with the current medication a patient is taking. The doctor can then recommend a different treatment to avoid side effects or any other potentially dangerous medical scenario. The technology also generates e-prescriptions, allowing patients to obtain re-prescriptions based on the doctor’s recommendations without having to visit the hospital.

EHRs a reality or a pipe dream for India?

In the healthcare sector, India is still developing and needs to speed up the digitization process. Public-Private Partnerships (PPPs) have become a crucial facet of healthcare, and the government is slowly but steadily looking into them to provide its residents with the best-in-class healthcare facilities.

There are various obstacles to overcome on the way to making EHR a reality in India. Here are a few: 

  1. An expensive affair
    Hardware, software, employee training, network fees, and maintenance can all seem a bit pricey in the beginning.
  2. Data leaks
    Indians are still hesitant to share their personal information because they believe that data leakage is a major worry.
  3. Data migration
    Converting data from paper to digital records is a difficult undertaking.
  4. Training of medical personnel
    Doctors will need to devote additional time to learning and adapting to the new system.
  5. Lack of technical guidance
    Another issue that private and small health facilities confront is a lack of in-house technical assistance to ensure that EHR systems work smoothly.

What can India learn? 

For the health record of any individual to be of clinical value, it needs to cover the various staged of life along with every clinical encounter that the person underwent throughout these stages.  It hence becomes critical for the records to be available, in a chronological order to provide a summary of the various healthcare events throughout the life of the patient. 

India is still in the early stages of implementing EHR systems. India can successfully integrate EHR systems in the future if it focuses on the following factors:

The PPP Way:  A higher level of public-private partnership is required to address infrastructure shortcomings in the healthcare delivery system. The commercial sector must be aware of public health issues, as these will have an impact on healthcare’s overall success. The private sector has the ability to bring in massive quantities of money to build world-class healthcare facilities for the general public. Simultaneously, the public sector can provide the necessary subsidies and accessibility. To attain universal health coverage and offer high-quality care at a reasonable cost, PPP employs a high volume, low margin strategy.

Personnel Training: Transitioning from legacy systems to newer ways of keeping records could be challenging in the beginning. Doctors and healthcare personnel must be properly trained in order to be able to leverage the advantages of this system. It may appear time-consuming at first, but in the long term, it will save time and provide a more open and simple manner of dealing with health issues.

Uniformity: In order to ensure health records across systems, organizations and institutions can seamlessly sync with each other, certain homogeneity is required in the way the records are stored. Guidelines have already been established by the Ministry of Health and Family Affairs, keeping in view the suitability and applicability in India. Institutions across the country need to ensure that they comply to these standards to be able to contribute towards the larger objective. 

Security: Maintaining high level of data security to ensure sensitive data of patients is protected is a must. Drawing parallels, there was a lot of resistance to online payments in the beginning, but once the security and privacy concerns are addressed, people have readily accepted digital as a preferred mode of payment. E-HRs will be a similar story. 

The pandemic served as a wake-up call for several countries including India. We are compelled to steer away from the conventional healthcare models to more unconventional ones. E-HR is the next power move promising to uplift the health conditions and healthcare experience of the general populace. From luxury, it needs to become a basic necessity. And to make it a reality, India as a country, needs to learn from many other countries and move at an exponential speed to emerge as a forerunner in the digital healthcare map.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Rapid Application Development: Low Code/No Code (LCNC) Will Continue To Flourish

Low code/no code development refers to a software development approach that requires minimal or no coding to create a piece of software. With visual workflows and drag-and-drop features, low code/no code platforms have revolutionized the way companies and developers build software. 

What exactly are these platforms? How are they helping businesses leverage software more efficiently? Are they going to stay or vanish in the future? Let’s explore answers to these questions in this blog. 

Low code vs no code development platforms

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A low code development platform is a set of tools that enables software development with little manual coding. A no code development platform is one that creates software with no coding requirements. Often, both low code and no code development solutions are packaged in the same platform.

However, there are some platforms that are truly no code and some that absolutely do require a bit of manual coding. The main distinction then lies in the target user of these platforms.

Low code development platforms are intended for personnel with some programming expertise. No code development platforms are intended for users with no programming background who need limited functionality in their software. Because no code platforms come with a complete package of only pre-built components, they stifle customization capabilities. Therefore, most businesses opt for low code development platforms.

Examples of popular low code development platforms include Microsoft PowerApps, Salesforce Lightning, and Zoho Creator. While tools like Webflow, Appy Pie, and Bubble are commonly used by non-IT personnel for no code development.

Low code/no code development is on the rise

The low code/no code development approach has been around for a while. However, with the emergence of COVID-19 and the large dispersal of organizations thereof, a lot of businesses attempted quicker digital transformation using the low code/no code technologies.

A KPMG survey across Global 2000 organizations revealed that after the emergence of the pandemic, over 26% of executives considered low code/no code as their most important automation investment. Prior to the pandemic, only 10% of businesses considered investing in low code/no code development.

Considering how low code/no code platforms accelerate the process of application development and delivery, it is no surprise that the market for these platforms is rapidly increasing. According to Statista, as of 2020, the global market for low code platforms generated revenue of 12.85 billion US dollars. With a CAGR of over 26%, it is estimated to cross 65 billion US dollars in 2027.

Why are businesses investing in low code/no code development?

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It removes the barrier to entry into the market by reducing development costs

Traditional software development is both a time-consuming and a resource-intensive affair. It requires businesses to hire a specialized team of experts in design, development, and testing. The hired team then works together for months to deliver a piece of software. Therefore, only established businesses with access to a lot of capital could build software.

However, with the rise of low code/no code platforms, any small business or even a single entrepreneur can easily translate their idea into a functional app. As a result, rapid application development using low code/no code tools has eliminated the barriers to entry into the market for businesses with limited capital and human resources.

It facilitates faster time to market with quick development and deployment

For a majority of startups and small businesses, a faster time to market is indispensable if they don’t want to lose out to the competition. The unexpected shift in consumer preference to online shopping during the COVID-19 pandemic is a great example of how businesses that rolled out apps faster were at an advantage over the ones that lagged behind.

Even in general, the success of a startup is considerably dependent on how quickly they are able to solve an existing or impending problem.

Low code/no code platforms offer ready-to-use components that are pre-tested. Therefore, without having to invest time in creating code and testing it, businesses can plan and launch a software solution in the market much faster compared to traditional software development.

It ensures higher customer satisfaction by enabling quick iterations 

No software application is immune to the need for iteration. Whenever an app is launched, the app owner keeps a keen eye on what the users are liking about it and what needs to be improved. The success of popular web and mobile apps largely comes from regular iterations based on user reviews and feedback. 

In the case of a traditionally built app, implementing changes is time-consuming as you have to write new code and because of how each component is related to the other. However, if you build your app using a low code/no code platform, making iterations is a lot quicker. That’s because these platforms consist of pre-built modules that work well together. So you can make changes to your app quite easily, with little risk of incompatibility.

Challenges of low code/no code app development

One of the biggest challenges of low code/no code development is little scope for customization. There’s a limit to the kind of and the number of templates available to be used in these platforms. If you have a very specific use case for your app, it might be hard to find a platform that satisfies the design and development needs of your app.

Secondly, rapid app development using low code/no code platforms compels you to rely on the security and governance measures implemented by the platform owners, leaving you with no ownership over the source code. This may prove to be risky in unpredictable scenarios like the platform being acquired by a third party or mismanagement of critical customer data.

Lastly, low code/no code development platforms may not be equipped to meet the scaling needs of an application. These pre-built templates may not work so efficiently when the user base expands substantially.

We can help you overcome these challenges and maximize your low code/no code development ROI

Despite some challenges, the low code/no code approach is going to become a significant part of the future of software development. It makes building software more accessible and empowers small businesses to leverage the benefits of software without heavy investments.

The key to driving success with your low code/no code investment is to identify the right platform that will serve your business goals without having to compromise on the security or the functionality aspects. 

iView Labs is an experienced software development company that specializes in creating a winning low code/no code technology strategy for small to medium scale businesses. If you are a business decision-maker who wants to create efficient apps with minimal time and money investment, our team would love to guide you.
Just drop your project details here and our consultants will help you choose the right platform and the right strategy for rapid app development.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Hear from Our Clients About Their Experience of Working with Us

We started our journey in the digital space back in 2012. Our aim was to make a difference — in the lives of our clients, employees, and partners. We do it through our future-focused solutions and reliable services. Every day, we outgrow ourselves by doing things that are difficult and can put our potential to test.

As a team, we love to challenge the status quo if that means helping our clients achieve their goals. We relentlessly pursue growth and love pushing the boundaries of innovation to create something we can be proud of.

At iView Labs, we take customer service very seriously. We go above and beyond to fulfill our client’s vision; be it about creating the next Amazon or executing on a fresh idea that has the potential to beat Amazon.

We say we do everything it takes to make our clients happy. But you don’t have to take our word for it. Here are a few testimonials right from our clients:

“I appreciate their commitment and understanding of the project.”

– Mario Sipek (Project Manager, MachineDesk)

“They were easy to work with, very forthcoming, and demonstrated great skills on this project.”

– Jimmy Nordh (CEO & CTO, Jinoteco AB)

“This company is very professional and they made themselves available working even beyond work.”

– Giuseppe Carullo

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For us, our client’s satisfaction is the greatest reward. Seeing them succeed is all we want. And thus, to ensure they remain on top of their competition, we train ourselves from time to time and stay updated with the latest trends in the industry.

Everyone including the developers to team leads periodically goes through rigorous training to remain ahead of the curve. Our commitment to our clients is well beyond the time we spend on a project — we make it our duty to ensure our clients have an edge over their competitors.

If you have an amazing idea or a project you need help with, let’s collaborate. With our years of experience and industry expertise, we can deliver bespoke software applications that are robust, reliable, and visually engaging. Our clients range from emerging start-ups to giant enterprises and medium-sized businesses. 

Share with us your requirements and we will be happy to help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How can agile leadership smoothen Digital transformation?

Introduction

Nowadays more and more businesses are embracing digital transformation (DX) to keep up with the competition. It is projected that spending on digital transformation will reach 1.8 trillion U.S. dollars in 2022 alone. And by 2025, global digital transformation spending is forecast to reach 2.8 trillion U.S. dollars. Spending heavily on digital transformation will take you nowhere if you don’t have the right leadership at the core.

In this blog, we will share five common challenges your teams may face while embracing Digital Transformation and how agile leadership can smoothen the transition. Let’s start with Agile Leadership.

Agile Leadership: A Buzzword or Life Saver?

Every business needs “agile” leaders to thrive in today’s rapidly disrupting economy. While the word agile is borrowed from the world of software development, an agile leader should be flexible, quick to adapt, and fast in decision making.

Agile Leaders:

  • Move quickly
  • Are resilient and creative
  • Don’t hesitate to challenge the status quo
  • Embrace change by driving value
  • Listen, learn, and adapt
  • Are open to change
  • Collaborate
  • Learn continuously
  • Are curious
  • Are flexible

5 Common Digital Transformation Challenges (& How Agile Leadership Can Help)

Employee Pushback

The Challenge:

One of the biggest challenges to digital transformation that almost every company faces is employee adoption. As humans, we love having routines and would do almost everything we can to stay in our comfort zone. Thus, when a company introduces new technologies, employees may feel insecure and hesitant to switch due to the skill gap and fear of change.

Agile Leadership Advantage:

Agile leaders can make the transition seamless by clearly communicating each employee’s roles and responsibilities and how they fit in the bigger picture of digital transformation. It’s also important to address the threat of replaceability your employees may be facing. Assure them that they will be provided with enough training and ample opportunities to learn, grow, and prosper with digital adoption. 

Lack of a Well-defined Strategy

The Challenge:

Most companies fail as they lack clarity and often have a misinformed transformation strategy. This leaves employees clueless as to what needs to be achieved and how to go about it. In order to succeed, you must understand the purpose behind the transformation and have a clear roadmap.

Agile Leadership Advantage:

Agile leaders can save you from haphazard decisions taken without analyzing customer needs, and technology trends. They will first define the problem and work their way backwards. This means defining the end goal and splitting the transformation process into phases — each having measurable targets.

Swapping Old Legacy Business Models & Systems

The Challenge:

Change is difficult. Businesses may find it hard to replace the systems and processes they were relying on to date. For one, it’s a lot of work, and switching to new systems can bring a lot of uncertainty. Adding more to that, the cost of transformation is huge – and can discourage small to medium-sized businesses even before they get started.

Agile Leadership Advantage:

Agile leaders are flexible with their approach and can envision the big picture. In comparison, they are more likely to adapt to new changes than people who have a fixed mindset. Good leaders can inspire their employees to take on innovative projects that can challenge the status quo and contribute to the company’s growth. 

Cybersecurity Risk

The Challenge:

Data breaches and security threats can put off companies from taking up digital transformation. The fear of cybercrime is real as it can cost a company thousands of dollars. They may even lose their user’s trust, which is hard to regain, and the damage caused to the brand can be irreparable.

Agile Leadership Advantage:

Strong and agile leadership will allow you to be proactive and take the necessary precautions to prevent any potential cyberattacks. You can start by training your employees and making them aware of potential security risks. Carry out regular risk assessments and ensure you have a sound risk management strategy to mitigate any attacks.

Adapting to Ever-evolving Customer Needs

The Challenge:

We’re in an experience-driven economy. Users care about their experience more than anything else. And to provide a delightful user experience, you need to understand your users, their needs and then work your way backward in transforming their journey.

With competition getting fiercer, customers have started expecting more personalized experiences. And thus, as a company, if you’re seeking to evolve, you will have to adapt to your customer needs. Most companies fail at digital transformation because they think of it as a one-time project. However, it is an ongoing process that evolves with the user’s expectations.

Agile Leadership Advantage:

Agile leaders can help you stay ahead by constantly seeking feedback from customers and employees. They will ensure you’re heading in the right direction by aligning your strategy and goals with your customers’ expectations. Adapting to your customers may mean focusing only on the communication channels that matter or embracing an omnichannel approach towards communication.

Final Words

Digital Transformation is all about enriching your customers’ journey at every possible touchpoint. The transition may be challenging, but having an agile leadership by your side will make the shift almost seamless. 

If you’re seeking to embrace digital transformation but are not sure how to go about it, let us help. Whether you’re seeking to boost your company’s productivity or enhance customer experience, our experts can steer your journey in the right direction. With our time-tested methodologies and proven processes, we will ensure you succeed with your digital transformation goals.

Share with us your vision of digital transformation, and our consultants will be happy to help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Low Code Platforms and its Pros & Cons

Introduction

Low-code platforms like Bubble have empowered millions of businesses to create production-ready web applications in no time. Using such platforms, even individuals with zero coding skills can create amazing web applications that are future-focused and scalable.

Even giant enterprises and web professionals have started reaping the rewards of low-code platforms to automate and expedite the development process. In this blog, we will understand what low-code platforms are, their pros and cons, and how you can use them to speed up your development process.

Let’s get going.

What Are Low-code Platforms?

To put it simply, low-code platforms enable users to build interactive web applications without writing a single line of code. How, you ask? Low-code platforms like Bubble come with a drag-and-drop interface that allows users to visually build applications without getting into the intricacies of coding.

You can build and deploy applications that can be scaled easily as and when needed. Low-code platforms are cloud-based — that means you don’t have to worry about setting up the back-end, and you will be able to access them from anywhere.

Marketshare

Low code is fast becoming the preferred method of software development in IT, according to the Gartner’s 2020 Magic Quadrant for Low Code Application Platforms: “By 2024, 75% of large enterprises will be using at least four low-code development tools for both IT application development and citizen development initiatives.”

That’s not all. The low code market is expected to increase from its $10.3 billion market value back in 2019 to $187 billion by 2030 as more companies see the benefits of adopting the platform for their business needs. That’s a CAGR of 31.1%.

Having said that, it is safe to say that low-code development is here to stay for a long time and holds great potential.

Pros & Cons of Low-code Platforms

Benefits of low-code platforms are immense. However, they also have a few limitations. Let’s look at both pros and cons of low-code platforms.

Pros:

Shallow Learning Curve, Lower Cost & Deployment Time:

Learning low-code development is fairly easy and self-explanatory. Anyone with little technical knowledge can learn it in limited time and with minimal effort. What’s more, low-code development is cheaper and will cost you less number of development hours as compared to traditional development.

Lower Maintenance

Low-code development platforms are usually monitored and managed by the service provider itself. This means, you won’t have to spend anything on maintenance of the platform. That’s not all. The app you build with low-code platforms will also require little to no maintenance as most of the components used in developing it will be standardized and ready-made.

Increased Productivity

Because low-code development enables organizations to develop more apps in less time, what used to take months can now be developed in just a few weeks…even days. This fosters innovation and boosts productivity.

Improved Agility

Apps developed by using low-code platforms make organizations more agile in the long run. That’s not all, visual design can accelerate the speed of development. This means less coding and automated testing.

Cons

Limited Customization Options

With the modular components of low-code platforms, you can only go so far in customizing your app. Thus, you may have to change your business processes to keep up with the low-code platform.

Lack of 3rd-party Integrations

With low-code, you won’t be able to integrate your other business tools to your application. Thus, scaling up wouldn’t be that easy. You will have to compromise some of the integrations if you’re seeking to develop a low-code application.

You Get Stuck with One Platform

Most of the low-code development platforms will tie with their cloud-based offerings. Thus, you won’t be able to switch platforms frequently. Moreover, hiring software engineers working with that platform can be tricky.

API Development

With low-code development, you won’t be able to develop a proper API. This means if you are seeking to develop an enterprise-class application with intricate features, you must consider other development methods instead of low-code development.

Top 3 low-code Platforms

While there are a lot of low-code development platforms, here are top 3 platforms that stand out from the crowd for their capabilities.

#1 – Bubble

With a thriving community of over 1.3 million users, Bubble is a powerful low-code platform that can help you build production-ready web applications. You can create everything from interactive, multi-user applications for both desktop and mobile browsers. The apps you build can be hosted on Bubble itself – this means you won’t have to worry about managing server and paying recurring hosting charges. Last but not the least, Bubble has a huge ecosystem of extensions that can help you extend the platform as per your needs.

#2 – OutSystems

OutSystems is one of the most promising low-code platforms that can help you create amazing apps swiftly and without much technical know-how. It comes with amazing features like a WYSIWYG editor, drag-and-drop features to build your apps visually, process and workflow mapping, an app marketplace to choose pre-built apps and templates from, and more. While it may take you some time to get accustomed with the system – but once you know how it works, building apps with it can be super fun.

#3 – Appian

Certainly one of the leading low-code development platforms, Appian comes with all the features you’d expect – coupled with a few useful ones. It offers a drag-and-drop visual interface, seamless third-party app integrations and many more. You can also use pre-built apps for creating your own app with minimal changes.

Final Words

Low-code platforms are leading the digital front by bringing in amazing features, unparalleled time-to-value, agility, and scalability. Furthermore, you don’t need to have any technical skills to build applications on low-code platforms.

In case you need help in deciding which low-code platform will be ideal for you, or want us to develop applications for you, let us know. We have been working with low-code development platforms and can help you turn your amazing idea into a clickable reality with minimal time and efforts.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.