For Rafael Nadal 2021, marked a new low in his chequered career, he lost to eventual champion Novak Djokovic in the semi-finals of Roland Garros, then to make matters worse, he suffered from a career-threatening foot injury, leaving his fans aghast and wondering if the best days are behind the Matador. Come 2022, Nadal defies logic and starts the year by capturing the Australian Open, his 21st Grand Slam, thereby emerging from the shadows of his great rival Roger Federer for the first time in his career.
Adoption of Cloud Computing in Healthcare to Improves Patient Care Coordinati...Mindfire LLC
The cloud has revolutionized the way we live and work. It has brought about a new era of flexibility and convenience, allowing us to access information and collaborate with others from anywhere in the world.
According to a Gartner survey, global spending on cloud services is projected to reach over $482 billion this year (2022). The numbers are much higher than those recorded last year, i.e., $313 billion.
Adoption of Cloud Computing in Healthcare to Improves Patient Care CoordinationMindfire LLC
The cloud has revolutionized the way we live and work. It has brought about a new era of flexibility and convenience, allowing us to access information and collaborate with others from anywhere in the world.
According to a Gartner survey, global spending on cloud services is projected to reach over $482 billion this year (2022). The numbers are much higher than those recorded last year, i.e., $313 billion.
Challenges and Risks of Web 3.0 — A New Digital World OrderMindfire LLC
It’s no secret that the world of technology is ever-evolving. From Web 1.0 to the current climate of Web 2.0, new platforms and technologies have revolutionized how we communicate, create content, share ideas, and even buy products. But what does this all mean for the next wave — Web 3.0?
Is it an opportunity for growth or a risk for developers who wish to adopt cutting-edge tech tools into their projects? This post aims to discuss the risks and challenges associated with ramping up development related to emerging forms of advanced web applications like those found in Web 3.0 — and reveal what it could mean to be a part of this ground-breaking industry shift!
Why Django is The Go-To Framework For Python.pdfMindfire LLC
Python is a powerful high-level programming language with potential applications in numerous industries. These disciplines might include everything from web development to automation and data science. It has great libraries and frameworks, such as bottle, pyramid, flask, pandas, selenium, NumPy, PyTorch, OpenCV, etc. In addition, Django is one such Python framework primarily used for web development.
Thriving in an Age of Tech Disruption.pdfMindfire LLC
Since the past decade, the pace of tech disruption has significantly grown with the increasing applications of technologies like AI, ML, and IoT. The global pandemic has only accelerated the wave of tech disruption by creating the demand for innovative and dynamic solutions.
Companies are constantly experiencing the need to innovate faster while keeping up with customer expectations so as to stay competitive. According to McKinsey, businesses adopted digital solutions 25 times faster than their own estimates during the pandemic.
Advantages Of Using Django Framework To Build Scalable.pdfMindfire LLC
What do Dropbox, The Washington Post, Spotify, YouTube, and Instagram have in common? Django was used to build these websites. The open-source Python web framework is widely used for websites that need to be developed quickly, maintained easily, have a clean design, and be secure. It would help if you kept these things in mind when selecting the language or framework for the new project.
Utilizing Machine Learning In Banking To Prevent Fraud.pdfMindfire LLC
Machine Learning (ML) is a vital tool for fraud detection in banks. It can spot potential fraud by examining patterns in transactions and comparing them with known fraudulent activity. It uses algorithms to identify these patterns, which are then used to predict whether or not a transaction is fraudulent. These algorithms are trained using historical data, so they can only identify patterns in existing data and cannot learn new ways as they occur.
How Blockchain In Supply Chain Can Help Overcome.pdfMindfire LLC
With bitcoins and cryptocurrency gaining much popularity over the last few years, its underlying technology — blockchain, seems to be the latest buzzword across industries. There seems to be a sudden urge among businesses to adopt and use the technology to significantly improve their workflow operations. The concept seems to have a promising future that would assist in solving several hold-ups of the existing technology gears.
Adoption of Cloud Computing in Healthcare to Improves Patient Care Coordinati...Mindfire LLC
The cloud has revolutionized the way we live and work. It has brought about a new era of flexibility and convenience, allowing us to access information and collaborate with others from anywhere in the world.
According to a Gartner survey, global spending on cloud services is projected to reach over $482 billion this year (2022). The numbers are much higher than those recorded last year, i.e., $313 billion.
Adoption of Cloud Computing in Healthcare to Improves Patient Care CoordinationMindfire LLC
The cloud has revolutionized the way we live and work. It has brought about a new era of flexibility and convenience, allowing us to access information and collaborate with others from anywhere in the world.
According to a Gartner survey, global spending on cloud services is projected to reach over $482 billion this year (2022). The numbers are much higher than those recorded last year, i.e., $313 billion.
Challenges and Risks of Web 3.0 — A New Digital World OrderMindfire LLC
It’s no secret that the world of technology is ever-evolving. From Web 1.0 to the current climate of Web 2.0, new platforms and technologies have revolutionized how we communicate, create content, share ideas, and even buy products. But what does this all mean for the next wave — Web 3.0?
Is it an opportunity for growth or a risk for developers who wish to adopt cutting-edge tech tools into their projects? This post aims to discuss the risks and challenges associated with ramping up development related to emerging forms of advanced web applications like those found in Web 3.0 — and reveal what it could mean to be a part of this ground-breaking industry shift!
Why Django is The Go-To Framework For Python.pdfMindfire LLC
Python is a powerful high-level programming language with potential applications in numerous industries. These disciplines might include everything from web development to automation and data science. It has great libraries and frameworks, such as bottle, pyramid, flask, pandas, selenium, NumPy, PyTorch, OpenCV, etc. In addition, Django is one such Python framework primarily used for web development.
Thriving in an Age of Tech Disruption.pdfMindfire LLC
Since the past decade, the pace of tech disruption has significantly grown with the increasing applications of technologies like AI, ML, and IoT. The global pandemic has only accelerated the wave of tech disruption by creating the demand for innovative and dynamic solutions.
Companies are constantly experiencing the need to innovate faster while keeping up with customer expectations so as to stay competitive. According to McKinsey, businesses adopted digital solutions 25 times faster than their own estimates during the pandemic.
Advantages Of Using Django Framework To Build Scalable.pdfMindfire LLC
What do Dropbox, The Washington Post, Spotify, YouTube, and Instagram have in common? Django was used to build these websites. The open-source Python web framework is widely used for websites that need to be developed quickly, maintained easily, have a clean design, and be secure. It would help if you kept these things in mind when selecting the language or framework for the new project.
Utilizing Machine Learning In Banking To Prevent Fraud.pdfMindfire LLC
Machine Learning (ML) is a vital tool for fraud detection in banks. It can spot potential fraud by examining patterns in transactions and comparing them with known fraudulent activity. It uses algorithms to identify these patterns, which are then used to predict whether or not a transaction is fraudulent. These algorithms are trained using historical data, so they can only identify patterns in existing data and cannot learn new ways as they occur.
How Blockchain In Supply Chain Can Help Overcome.pdfMindfire LLC
With bitcoins and cryptocurrency gaining much popularity over the last few years, its underlying technology — blockchain, seems to be the latest buzzword across industries. There seems to be a sudden urge among businesses to adopt and use the technology to significantly improve their workflow operations. The concept seems to have a promising future that would assist in solving several hold-ups of the existing technology gears.
Challenges of IT Outsourcing for CEOs of Small.pdfMindfire LLC
The pandemic has altered every facet of the business, and many companies outsource to adapt to the new normal. Many businesses now want to boost their operations and profits using contemporary technology.
Outsourcing has emerged as the new business paradigm, and major companies are scrambling to take advantage of its cost-saving and growth-promoting potential. It takes time and energy to settle into the adaptation phase when a business begins outsourcing for the first time.
Is JMeter The Best Performance Testing Tool.pdfMindfire LLC
The increase in the need to assess the performance of applications, websites, and servers in alignment with a rising need to offer better customer services are the factors facilitating the growth of the load-testing software market. JMeter has a market share of approximately 25.76% considering the performance and load-testing market. The performance testing tools market around the world is predicted to increase by more than USD 3.02 billion by the end of 2030. Different benefits generated by the software include faster testing and streamlines, automatic operational testing, and several others. These are further enhancing the market need for load-testing tools.
Is Codeless Automation Testing Revolutionizing the Testing Industry.pdfMindfire LLC
Codeless automation testing has been an industry buzzword for a while, and with good reason. It is quickly becoming an indispensable tool in test automation. Automation testing validates software’s proper functioning and features before launching it into production. Automation testing uses scripted sequences executed by various testing tools. It helps reduce human errors in application testing, simplifies the testing process into a set of scripts, ensures faster checking of the system, and runs multiple tests a day.
Where Do I Hire A Dedicated Team Of Python Developers Online.pdfMindfire LLC
Python is one of the most popular coding languages used today. It was created by Guido van Rossum and released in 1991. Due to the versatility of the language, many Fortune 500 companies like Netflix and Uber work with Python. It has several uses that are beneficial to firms. Some of its benefits include creating web applications on a server, creating workflows alongside corresponding software, handling large amounts of data, and performing complex mathematics.
Primary concerns of CTOs with IT Outsourcing.pdfMindfire LLC
The document discusses the history and growth of the IT outsourcing industry. It began in the 1990s to help companies cut costs and access efficient resources. The global IT outsourcing market was worth $92.5 billion in 2019 and is expected to grow at a 4.5% CAGR through 2026. India is a leading destination for outsourced IT services, with the industry contributing around 7.7% to India's GDP currently. The document then outlines some common issues with outsourcing like selecting the right vendor, uncertainty regarding business needs and technologies, inaccurate cost estimates, security and compatibility concerns, and poor communication due to cultural differences. Solutions provided include thorough vendor assessments, clearly defining requirements and budgets,
Evolution of virtualized healthcare models.pdfMindfire LLC
New healthcare delivery alternatives were beginning to emerge before the epidemic affected practically every aspect of industry. COVID-19, on the other hand, was the trigger that accelerated those developments, pushing healthcare professionals to make the long-awaited move to a patient-centered approach.
Adopting Blockchain in Healthcare to solve complex data issues & improve cust...Mindfire LLC
Blockchain has proven to be a technological breakthrough that will aid businesses in their shift to increased efficiency and security. According to a PwC poll of 600 Executives conducted in 2018, 84 percent of respondents’ firms are actively engaging with distributed ledgers.
In healthcare, Blockchain is all about cutting away the middlemen. It’s about enhancing the security of different healthcare transactional processes while reducing bureaucracy and manual inefficiencies, boosting service quality, and decentralizing patient data.
Delivering Better Healthcare Services with Edge AI.pdfMindfire LLC
Medicine has been one of the most renowned success stories of modern science and technology. However, the MIT Technology review observes that until 2020 the pace of digital transformation in this sector has been frustratingly low owing to its risk-averse nature and spiraling costs. The mainstreaming of digital tools for enabling the treatment outcomes was emerging, but slowly.
React’s suitability to develop Geospatial solutions.pdfMindfire LLC
This document discusses the suitability of React for developing geospatial solutions. It begins by defining geospatial data as information that describes things or events with a position on Earth, along with characteristics and temporal data. Geospatial information systems (GIS) allow visualization of geospatial data by mapping it. The document then provides examples of geospatial data and advantages of using it. It discusses geospatial applications in transportation and healthcare. React is highlighted as a cutting-edge technology that easily updates user interfaces when data changes. Finally, the document summarizes that React increases productivity and stability for geospatial solutions development.
How has React become the preferred choice to.pdfMindfire LLC
Is your financial institution debating whether to hire a React JS expert and whether React is the best choice for managing your banking app? It is evident that the financial landscape has experienced a massive transformation and breakthrough during the last decade.
An SEO optimized website is best charged up.pdfMindfire LLC
React sites confront significant problems in terms of search engine optimization. One of the primary reasons is that most React developers focus on client-side supplies. At the same time, Google focuses on server-side rendering, which makes ReactJS and search engine optimization challenging. This blog will go through all of the practical techniques to creating an SEO-friendly React app.
The Continuing Relevance of Manual Testing.pdfMindfire LLC
Automation is most advantageous for regular and repeated testing, which may be very time-consuming and tiresome when done manually. However, automation cannot match a human’s intuitiveness, broad knowledge, and iterative assessment skills.
Outsourcing became an emerging trend in the late 1980s/early 1990s. In the subsequent 30 years, it became a strategic business imperative for businesses in the USA and Europe.
In the 1990s, outsourcing consisted of hardware and networking-related work. However, in the internet era of the late 90s and heavy digitalization of industries in the early 2000s, outsourcing started taking a more evident shape. Business process outsourcing, software development, and full-fledged IT function outsourcing gained rapid pace during this period. The business of outsourcing became more client-oriented and just not an internal business process anymore.
Role of AI in Chronic Care Management.pdfMindfire LLC
Effectively managing chronic diseases such as asthma, diabetes, cancer, and several others have been one of the biggest challenges for healthcare providers worldwide. According to a study, chronic diseases are responsible for 70% of deaths and about 50% of the disease burden globally. Owing to this, we will discuss how AI in chronic care management can change these numbers.
As the pandemic unleashed a global health crisis, many countries faced a shortage of healthcare professionals and medical resources. This caused several hurdles for patients with chronic conditions to get treatment at the right time. Such conditions forced chronic patients to adapt to remote and digital treatment, which is the new normal in the current world.
UPI (Unified Payments Interface) – The Game ChangerMindfire LLC
Phenomenal growth may be the exact term to describe the increased volume of digital payments in India in 2022. If you inspect the March data of the current year, it shows that this payment ecosystem grew by 216% compared to the same period in 2019. The Unified Payments Interface (UPI), an initiative of the National Payments Corporation of India (NPCI) has been a critical driver of cashless transactions since its launch in 2016. The idea behind introducing UPI was to enable fast, secure, and seamless digital payments with the Immediate Payment Service (IMPS) infrastructure.
Utilizing Machine Learning In Banking To Prevent Fraud.pdfMindfire LLC
Machine learning is useful for fraud detection in banks by examining transaction patterns and comparing them to known fraudulent activity to identify potential fraud. It uses algorithms trained on historical data to spot these patterns and predict fraudulent transactions. However, machine learning models must be constantly updated with new information as fraud patterns change over time. It can help banks prevent fraud even when unauthorized access is not attempted by flagging suspicious behavior for human review. The benefits of machine learning for fraud detection include increased speed, efficiency, and accuracy compared to traditional methods.
The critical role of QA in Medical Device Testing.pdfMindfire LLC
Digitization has brought significant advancements to the healthcare industry in recent years. This has made it easier to connect people with the most up-to-date medical gadgets and software, resulting in better healthcare services. Medical devices are essential for patient care because they have a direct impact on human lives by delivering valuable data and observations.
Due to different advancements in healthcare, medical device software continues to get increasingly sophisticated. Certain critical compliance factors, such as regulatory delays and the adoption of international standards, have an impact on the software quality of medical devices.
AI in the Retail Industry: Key to SuccessMindfire LLC
In the ever-changing and complex retail industry, businesses need to keep up with the latest technological advancements to remain competitive. That’s why retailers are now using artificial intelligence (AI) and machine learning (ML) to improve the customer experience and gain more profitability.
Disruption Set in Motion by Healthcare Consumerism.pdfMindfire LLC
Healthcare consumerism is the health industry’s shift towards a more value based care; it is a movement for a more cost effective and efficient delivery of healthcare services. It connotes the patient taking control of their health and wellness by managing all aspects of one’s healthcare landscape – including health benefits, medical insurance and retail health. In short, the goal of healthcare consumerism is to enable patients to become wholly involved in their healthcare decisions.
How IoT In Automotive Industry Is Transforming Smart CarsMindfire LLC
The Internet of Things is rapidly influencing every sphere of our lives. IoT in Automotive Industry is seeing one such rapid growth. As of 2020, an article by Deloitte cites that over 20 billion IoT devices are in use.
Overtly, the connected vehicle is the most recent embodiment of IoT technology. While automotive engineers and software developers both claim responsibility for this success, the real power behind the wheels lies with the IoT service providers.
Challenges of IT Outsourcing for CEOs of Small.pdfMindfire LLC
The pandemic has altered every facet of the business, and many companies outsource to adapt to the new normal. Many businesses now want to boost their operations and profits using contemporary technology.
Outsourcing has emerged as the new business paradigm, and major companies are scrambling to take advantage of its cost-saving and growth-promoting potential. It takes time and energy to settle into the adaptation phase when a business begins outsourcing for the first time.
Is JMeter The Best Performance Testing Tool.pdfMindfire LLC
The increase in the need to assess the performance of applications, websites, and servers in alignment with a rising need to offer better customer services are the factors facilitating the growth of the load-testing software market. JMeter has a market share of approximately 25.76% considering the performance and load-testing market. The performance testing tools market around the world is predicted to increase by more than USD 3.02 billion by the end of 2030. Different benefits generated by the software include faster testing and streamlines, automatic operational testing, and several others. These are further enhancing the market need for load-testing tools.
Is Codeless Automation Testing Revolutionizing the Testing Industry.pdfMindfire LLC
Codeless automation testing has been an industry buzzword for a while, and with good reason. It is quickly becoming an indispensable tool in test automation. Automation testing validates software’s proper functioning and features before launching it into production. Automation testing uses scripted sequences executed by various testing tools. It helps reduce human errors in application testing, simplifies the testing process into a set of scripts, ensures faster checking of the system, and runs multiple tests a day.
Where Do I Hire A Dedicated Team Of Python Developers Online.pdfMindfire LLC
Python is one of the most popular coding languages used today. It was created by Guido van Rossum and released in 1991. Due to the versatility of the language, many Fortune 500 companies like Netflix and Uber work with Python. It has several uses that are beneficial to firms. Some of its benefits include creating web applications on a server, creating workflows alongside corresponding software, handling large amounts of data, and performing complex mathematics.
Primary concerns of CTOs with IT Outsourcing.pdfMindfire LLC
The document discusses the history and growth of the IT outsourcing industry. It began in the 1990s to help companies cut costs and access efficient resources. The global IT outsourcing market was worth $92.5 billion in 2019 and is expected to grow at a 4.5% CAGR through 2026. India is a leading destination for outsourced IT services, with the industry contributing around 7.7% to India's GDP currently. The document then outlines some common issues with outsourcing like selecting the right vendor, uncertainty regarding business needs and technologies, inaccurate cost estimates, security and compatibility concerns, and poor communication due to cultural differences. Solutions provided include thorough vendor assessments, clearly defining requirements and budgets,
Evolution of virtualized healthcare models.pdfMindfire LLC
New healthcare delivery alternatives were beginning to emerge before the epidemic affected practically every aspect of industry. COVID-19, on the other hand, was the trigger that accelerated those developments, pushing healthcare professionals to make the long-awaited move to a patient-centered approach.
Adopting Blockchain in Healthcare to solve complex data issues & improve cust...Mindfire LLC
Blockchain has proven to be a technological breakthrough that will aid businesses in their shift to increased efficiency and security. According to a PwC poll of 600 Executives conducted in 2018, 84 percent of respondents’ firms are actively engaging with distributed ledgers.
In healthcare, Blockchain is all about cutting away the middlemen. It’s about enhancing the security of different healthcare transactional processes while reducing bureaucracy and manual inefficiencies, boosting service quality, and decentralizing patient data.
Delivering Better Healthcare Services with Edge AI.pdfMindfire LLC
Medicine has been one of the most renowned success stories of modern science and technology. However, the MIT Technology review observes that until 2020 the pace of digital transformation in this sector has been frustratingly low owing to its risk-averse nature and spiraling costs. The mainstreaming of digital tools for enabling the treatment outcomes was emerging, but slowly.
React’s suitability to develop Geospatial solutions.pdfMindfire LLC
This document discusses the suitability of React for developing geospatial solutions. It begins by defining geospatial data as information that describes things or events with a position on Earth, along with characteristics and temporal data. Geospatial information systems (GIS) allow visualization of geospatial data by mapping it. The document then provides examples of geospatial data and advantages of using it. It discusses geospatial applications in transportation and healthcare. React is highlighted as a cutting-edge technology that easily updates user interfaces when data changes. Finally, the document summarizes that React increases productivity and stability for geospatial solutions development.
How has React become the preferred choice to.pdfMindfire LLC
Is your financial institution debating whether to hire a React JS expert and whether React is the best choice for managing your banking app? It is evident that the financial landscape has experienced a massive transformation and breakthrough during the last decade.
An SEO optimized website is best charged up.pdfMindfire LLC
React sites confront significant problems in terms of search engine optimization. One of the primary reasons is that most React developers focus on client-side supplies. At the same time, Google focuses on server-side rendering, which makes ReactJS and search engine optimization challenging. This blog will go through all of the practical techniques to creating an SEO-friendly React app.
The Continuing Relevance of Manual Testing.pdfMindfire LLC
Automation is most advantageous for regular and repeated testing, which may be very time-consuming and tiresome when done manually. However, automation cannot match a human’s intuitiveness, broad knowledge, and iterative assessment skills.
Outsourcing became an emerging trend in the late 1980s/early 1990s. In the subsequent 30 years, it became a strategic business imperative for businesses in the USA and Europe.
In the 1990s, outsourcing consisted of hardware and networking-related work. However, in the internet era of the late 90s and heavy digitalization of industries in the early 2000s, outsourcing started taking a more evident shape. Business process outsourcing, software development, and full-fledged IT function outsourcing gained rapid pace during this period. The business of outsourcing became more client-oriented and just not an internal business process anymore.
Role of AI in Chronic Care Management.pdfMindfire LLC
Effectively managing chronic diseases such as asthma, diabetes, cancer, and several others have been one of the biggest challenges for healthcare providers worldwide. According to a study, chronic diseases are responsible for 70% of deaths and about 50% of the disease burden globally. Owing to this, we will discuss how AI in chronic care management can change these numbers.
As the pandemic unleashed a global health crisis, many countries faced a shortage of healthcare professionals and medical resources. This caused several hurdles for patients with chronic conditions to get treatment at the right time. Such conditions forced chronic patients to adapt to remote and digital treatment, which is the new normal in the current world.
UPI (Unified Payments Interface) – The Game ChangerMindfire LLC
Phenomenal growth may be the exact term to describe the increased volume of digital payments in India in 2022. If you inspect the March data of the current year, it shows that this payment ecosystem grew by 216% compared to the same period in 2019. The Unified Payments Interface (UPI), an initiative of the National Payments Corporation of India (NPCI) has been a critical driver of cashless transactions since its launch in 2016. The idea behind introducing UPI was to enable fast, secure, and seamless digital payments with the Immediate Payment Service (IMPS) infrastructure.
Utilizing Machine Learning In Banking To Prevent Fraud.pdfMindfire LLC
Machine learning is useful for fraud detection in banks by examining transaction patterns and comparing them to known fraudulent activity to identify potential fraud. It uses algorithms trained on historical data to spot these patterns and predict fraudulent transactions. However, machine learning models must be constantly updated with new information as fraud patterns change over time. It can help banks prevent fraud even when unauthorized access is not attempted by flagging suspicious behavior for human review. The benefits of machine learning for fraud detection include increased speed, efficiency, and accuracy compared to traditional methods.
The critical role of QA in Medical Device Testing.pdfMindfire LLC
Digitization has brought significant advancements to the healthcare industry in recent years. This has made it easier to connect people with the most up-to-date medical gadgets and software, resulting in better healthcare services. Medical devices are essential for patient care because they have a direct impact on human lives by delivering valuable data and observations.
Due to different advancements in healthcare, medical device software continues to get increasingly sophisticated. Certain critical compliance factors, such as regulatory delays and the adoption of international standards, have an impact on the software quality of medical devices.
AI in the Retail Industry: Key to SuccessMindfire LLC
In the ever-changing and complex retail industry, businesses need to keep up with the latest technological advancements to remain competitive. That’s why retailers are now using artificial intelligence (AI) and machine learning (ML) to improve the customer experience and gain more profitability.
Disruption Set in Motion by Healthcare Consumerism.pdfMindfire LLC
Healthcare consumerism is the health industry’s shift towards a more value based care; it is a movement for a more cost effective and efficient delivery of healthcare services. It connotes the patient taking control of their health and wellness by managing all aspects of one’s healthcare landscape – including health benefits, medical insurance and retail health. In short, the goal of healthcare consumerism is to enable patients to become wholly involved in their healthcare decisions.
How IoT In Automotive Industry Is Transforming Smart CarsMindfire LLC
The Internet of Things is rapidly influencing every sphere of our lives. IoT in Automotive Industry is seeing one such rapid growth. As of 2020, an article by Deloitte cites that over 20 billion IoT devices are in use.
Overtly, the connected vehicle is the most recent embodiment of IoT technology. While automotive engineers and software developers both claim responsibility for this success, the real power behind the wheels lies with the IoT service providers.
How IoT In Automotive Industry Is Transforming Smart Cars
Key Drivers that influence Software Outsourcing Decisions for Small & Medium-sized Businesses
1.
2. For Rafael Nadal 2021, marked a new low in his chequered career, he
lost to eventual champion Novak Djokovic in the semi-finals of Roland
Garros, then to make matters worse, he suffered from a career-
threatening foot injury, leaving his fans aghast and wondering if the
best days are behind the Matador. Come 2022, Nadal defies logic and
starts the year by capturing the Australian Open, his 21st Grand Slam,
thereby emerging from the shadows of his great rival Roger Federer for
the first time in his career.
Making this turnaround required immense resolve, resilience,
reimagining, and reform. Similarly, businesses today particularly Small
and Medium Businesses need to adopt these philosophies as they
consider rebounding from the adverse effects of Covid 19. The
pandemic as we already are aware ushered in a tectonic shift in digital
technology and the way businesses operate. Organizations are
enhancing and expanding their digital channels and are using advanced
analytics to combine new sources of data, such as satellite imaging, with
their own insights to make better and faster decisions and strengthen
their relationship with their customers.
3. Now the challenge for Small & Medium Businesses is how do they keep pace
with this rapid transformation in the business. Developing and building in-house
capabilities isn’t the answer as Businesses would have missed the bus by the
team gets ready in today’s day and age. Outsourcing has emerged as the
best bet for the obvious advantages it brings to the table.
In this article, we focus on the pertinent factor as the title suggests — What
are the key drivers that influence Software Outsourcing Decisions for SMBs.
Choosing the right outsourcing partner solves half of the problem. SMBs must
take into account the following factors before choosing their software
outsourcing partner.
1. The Need Factor — It always helps to look inward and identify the core
strengths and weaknesses of the Organisation. Identifying the cog where
outsourced IT intervention can reap immediate dividends is the key. Now a day
most IT solution providers offer Technology Auditing Services to identify gaps
in the business processes, thereby enabling organizations to identify risks and
recognize new business opportunities. Small & Medium Businesses need to
identify their business needs and determine whether the IT solutions partner
can provide the specific solutions for their Business.
4. 2. Experience Factor — Does the IT solutions provider have domain
expertise and a thorough understanding of the compliance, risk, and
auditing functions? One can evaluate the provider’s capabilities by
looking at their past and current set of clients who are in similar
industries. Scanning the website of the potential IT partner is always
beneficial; especially the testimonial reviews section as well as the list of
past projects and clients. An experienced IT solutions provider should be
able to bring to the table maturity in process design, curtail risk factors
in execution, detect vulnerabilities in the process and enhance audibility.
3. Competency Factor — What level of expertise does the IT solutions
provider bring? As the saying goes “A captain is only as good as his
team’, similarly the IT solutions firm is as good as the team it employs. A
competent team with access to intellectual property and technology that
bridges the internal gap of the organization is the obvious requirement.
Organizations should take into account the staff turnover rate in the IT
solution provider’s team and insist on a measure of continuity, and
contingency plans in case key personnel leave.
5. 4. Customised Solutions Factor- Most of the time the software
development needs are very unique and specific to the businesses. Off-
the-shelf enterprise solutions are expensive and also would require
significant levels of customization to be implemented in their setups,
which in a way will defeat the purpose, or make it extremely
cumbersome. Therefore, the best alternative is to work with an IT
solutions provider who has expertise in building solutions ground up and
is well versed with the dynamics of doing it for small and medium-sized
establishments. The IT solutions provider will review the current
processes; find opportunities that will maximize savings and reduce
spend while maintaining organization efficiency. They can also detect
liabilities and challenges within processes in order to reduce risk. Once
the analysis of the business processes is completed, the IT solutions
provider can not only build custom solutions based but provide ongoing
maintenance and support for the new processes at a fraction of the cost.
6. 5. Legacy Systems Factor- Many SMBs, while seeking newer solutions,
do not like to disrupt their businesses too much, because they support the
day-to-day business operations. This translates to IT solution providers
having to build solutions that have to integrate with old or legacy
applications. That is where things get tricky. Many challenges may arise.
For e.g. dealing with old systems that were never designed to integrate
in the first place, archaic technologies, and systems not supporting API
integration. In this scenario, SMBs must take into account the following
facts:
Ø Will it be more convenient and faster to reach the market with a new
IT platform
Ø Assuming it’s justified to integrate the legacy systems, how is the IT
solutions provider planning to approach this undertaking? Will there be
any data loss?
Ø Does the IT solutions provider provide the flexibility and scalability
for such a task along with the expertise required?
7. Ø Does the IT solutions provider have competent staffs to carry out
exhaustive testing that is necessary for replacing or integrating old
systems to ensure compatibility and reliability?
Ø Does the IT solutions provider have the expertise in aligning the
functionality of legacy systems with the user experience of the modern
UX?
Ø Can the IT solutions provider manage the downturn effectively?
6. Tech Support Factor — How proficient is the team in managing
Technical issues that might crop up from time to time. Would they cover
up 24/7, 365 days a year? It is necessary that this is discussed and
elaborated in the RFP (Request for Proposal) to pre-empt any hassle
that may crop up and also gives the SMB a fair idea of what kind of
services will the IT solutions provider provide.
7. Reputation Factor — The reputation of the IT solutions provider with
the industry stakeholders like the regulators, supervisors, and vendors
gives an insight into the IT solutions provider's ability to be a responsible
service provider or not.
8. 8. Institution Strength Factor — Along with the ability to understand
the nuances of foreign businesses and the environment they operate in,
financial soundness, size of the firm, and the ability to attract the best
talents in the industry are factors that determine the capability of the IT
solutions provider to consistently deliver high-quality services over a
long period of time.
9. Culture Factor –Maintaining a good working relationship with the IT
Solutions Provider is paramount. To build a good working relationship,
it’s important to know the work culture of the IT partner, what is the
cultural background of the employees in the IT partner’s office? Where
are they located? How efficiently can they deal with the customers, can
they converse with Customers without using the IT jargon? Apart from the
Head and Sales representative of the IT Solutions provider, one needs
to develop familiarity with the support engineers who will be working on
the project, as they are the ones who will be managing the project on a
daily basis. Choose the IT solutions provider that has employees that
care about your business issues and its successes.
9. 10. Cost Factor — Cost inevitably plays a role in the decision, but for a
collaboration to be successful, the characteristics outlined above, often
take precedence. This is likely due to the fact that managed services are
applied to critical functions that shape the Organisations future. Also, the
characteristics merit monitoring throughout the duration of the project, as
changes may impair the IT solution provider’s performance and expose
the Organisation to risk.
Like other businesses, if you too are looking to develop IT Solutions,
Mindfire Solutions can be your partner of choice. We have gained
significant experience over the years working with a diverse clientele.
We have a team of highly skilled and certified software professionals,
who have developed many custom solutions for our global clients over
the years.
Click here to know more about us and our portfolio of services across
industries.