Author: Jay

Do what you do best in – that’s what I’ve always believed in and that’s what I preach. Over the past 25+ years (yup that’s my expertise ‘n’ experience in the Information Technology domain), I’ve been consulting to small, medium and large companies ‘About Web Technologies, Mobile Future as well as on the good-and-bad of tech. Blogger, International Business Advisor, Web Technology Expert, Sales Guru, Startup Mentor, Insurance Sales Portal Expert & a Tennis Player. And top of all – a complete family man!

How To Build A Successful Software Development Business

Posted on by Jay

In this age of computers and smartphones, we’ve started to rely a lot upon the software programs that give them life. Since computers started becoming prominent, there has been a boom in the software development business.

The software has made life easier for everyone, from education, entertainment, business, or the day-to-day issues, the software has brought the solutions of almost all of them at the fingertips.

The convenience that the software programs have brought to the lives of the people has increased their demands. An increase in demands naturally leads to an increase in production and the same happened with the software market.

Software businesses are growing and new startups are emerging, seeing these businesses grow, everyone at least once wishes to start a software startup. The catch is to do the right things to make it a successful one.

Here are some suggestions that could help you make your software startup a success-:

1. Be Customer-Centric

A business thrives by the efforts they put to satisfy their clients/customers. Making money might be the dream that brings people to start a business but an important key to success is to satisfy the customer.

A customer-centric business thrives over the motivation of solving the problems incurred by the customers rather than just focusing on converting them and making them pay.

Make sure the customer service is responsive, efficient, and welcoming, and you’ll retain the customers and bring in new ones.

2. Minimum Viable Product

For any business, especially for a startup, the efficient use of capital is always an issue. Businesses face risks during several stages of production and distribution, and a faulty decision can deplete a lot of money.

Minimizing risk makes business much more smooth. For a software-based company, this can be done by introducing an MVP (Minimum Viable Product).

An MVP is the most basic version of the product with only the essential features of the product. After introducing the MVP, enhancements and upgrades can be done as per the feedback of the user-base.

This way, businesses avoid scenarios where they incur losses because certain features or the software is badly received by the public.

3. Collaborative Marketing

Marketing is an important part of business development and the interesting thing is that the field of marketing is open to lots of creative ideas, innovation, and experimentation.

Out of all the methods that software businesses use to market their product, an interesting way is to collaborate with other businesses where there is no conflict of interest.

The Co-Marketing model which is used by companies to promote each other’s products helps the participating companies access the other company’s user base and thereby grow their audience.

Because of the growth in the user base at a comparatively lower expense, it is a win-win situation for all.

4. Incentivize the Employees

Efficient employees contribute substantially to a business, however, it is not easy to make them work efficiently.

Even though the employees vow to work diligently in an interview, and a lot of them keep up with their words, often an employee lacks the motivation to give it their best.

The best way to motivate an employee is to give them an incentive and appreciation for their accomplishments.

5. Solve Problems

There are a lot of startups that tend to imitate successful products and fail because people aren’t finding the product helpful. Whatever the issue is, if the product isn’t helpful to the clients, if it isn’t solving their problems, it will fail.

Before developing a software program, always do in-depth research about the demands, the issues that the people are facing, how important will your program be for them- are there any other simpler means to solve the issue, does the issue really bother them, and so on.

6. Measure, Analyze, and Improve

To improve something, you need to know its present condition, and how the outcomes are affected by changing its aspects. The same goes for businesses, you need to be aware of certain indicators that reflect how the business is performing.

saas business applicationsImage Source: Statistica

These indicators are called KPIs (Key Performance Indicators). It is necessary to monitor these indicators along with other indicators and after analyzing the situation, make proper decisions that will improve the situation.

7. Offer Packages

The main source of revenue for a software-based business is subscriptions. While it is essential to offer some free tools for a user to hang on to the software, it is important to provide some exclusive plans that offer more sets of tools.

Such extensive tools are generally used by regular subscribers and businesses who are quite reliant on these exclusive tools and readily pay for them if the standards meet their expectations.

8. Client Retention

As we discussed in the last point that subscriptions are the major sources of revenue for a software company, now if the churn rate for the software is high, the business will lose money in the form of marketing campaigns to maintain the number of subscribers.

Retaining the subscribers is the key to success for a software business especially those with a SaaS product. Proper customer support, attractive offers, and quality products are the things that can make a customer remain subscribed.

9. Third-Party Integration

People extensively use computers and smartphones these days, most of the time, they need different software programs to accomplish a particular task.

Integrating the software with third-party software programs with which it is generally used, will help the users a great deal.

Making a flexible API that can be easily integrated with different platforms and worked upon by developers will help grow the popularity of the product and increase its value.

10. Make it Simple and Intuitive

For a software program to be convenient for public use, it needs to be simple. People don’t want to go through the hassle of learning how to make use of the program to accomplish tasks.

Popular software programs have a simple interface through which people can find their way easily and find the necessary tools and paths intuitively. Make it interactive, simple, and intuitive then see its shining.

Conclusion

Software products are growing rapidly with new ideas, innovative designs, and solutions to day-to-day problems.

While the opportunity is golden and resources are abundant, the journey to success is long and a tough one. The tips that we discussed above will make sure you get across some of the hurdles with ease.

Are you looking to develop a software for your business! Lets discuss with our IT consultant

The Growth of Artificial Intelligence in Ecommerce

Posted on by Jay

Technology combined with eCommerce has taken the world by storm even prior to the Covid-19 crisis. Customer satisfaction, brand recognition, and the effectiveness of the sales procedures are the pillars on which the e-Commerce industry thrives. With technology increasingly infiltrating the e-commerce market, retailers are on the lookout for innovative ways to improve these aspects with newer features to automate processes and stay ahead of the curve.

All this reckoned with, the integration of AI proved to be a game-changer for eCommerce and retail platforms, thus shaping retail digitization.

The below graph indicates Statista’s estimates of retail sales to amount to nearly $30 trillion by 2023. Nasdaq estimates 95% of purchases by E-commerce to be facilitated by 2040.

Retail-ecommerce-sales(Source – indatalabs.com)

The implementation of Artificial Intelligence in eCommerce can change business functions with demand forecasting and big data based on behavior, product, and, action. The usage of AI in the eCommerce industry brings a set of unique perks to most retailers. Not only does it provide the luxury of shopping but also reduces costs and strengthens the top line and bottom line of the organization.

Recommendation Systems

Ecommerce application development companies offer intuitive web and mobile apps simplifying online ordering for retail customers. They integrate AI that gathers data based on user’s interests that also drive the rate of up-selling. Amazon is the best example that offers a customized web page to millions of users. Amazon’s recommendation engine is well-known for the use of AI in e-commerce to generate suggestions.

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Another industry magnate, Netflix, saves $1 billion a year, thanks to AI-powered systems that deliver 75% of content to users through targeted and customized recommendations. These technologies are built on top of big data.

Consumers can also receive non-trivial recommendations aligned to their current location. All in all, AI keeps track of your previous shopping habits and makes intelligent suggestions for similar items that you’ll enjoy just as much.

Definitely, the growth of Artificial Intelligence in the eCommerce industry has increased productivity with fully automated data processing to ease lives.

Chatbots in eCommerce

In 2020, nearly 77% of the most successful businesses generated leads through chatbots.

ChatbotChatbots are algorithm-based customer service tools built to enhance customer experience.

According to a study conducted by Bain & Company, businesses that connect and communicate with customers service requests on social media cite a 20% to 40% increase in revenue from those consumers.

Chatbots, which replace human workers, help to make more productive use of the resource by giving them more opportunities to contribute.  High user rating and recommendation, increased sales, and user retention spiked the integration of chatbots in the eCommerce space. Reduction in shopping cart abandonment curbed lengthy checkout procedures. This factor was seen as a major reason for success in retaining customers.

For example, Agromall, a Philippines-based eCommerce store sells consumer goods. Their bot makes it easier to extract key information, delivery details, and talk to a support agent.

The bot was designed with two main objectives in mind:

  • To streamline the sales process.
  • Customers can chat with an agency at any point of the sales process, which will enhance the live chat and service experience.

Argomall’s store bot uses Google’s Site Search API for customers to enter keywords like “Sony TV” and other products.

The results?

After its launch, Agromall generated a whopping 23x increase in ROI, thanks to its chatbots that is the major driving tool for sales and customer service.

Chatbots have made their mark with exponential growth in revenue due to their automated order placement and personalized search results. People who use messaging apps to connect with brands are 53% more likely to shop with a company they can contact.

AR and VR Transforming Ecommerce

Retailers are aiming to create intuitive and friendly shopping experiences by combining current e-commerce stores with immersive technology like Augmented Reality and Virtual Reality (AR/VR). These innovations have revolutionized the e-commerce industry and altered the way companies operate.

The “try before you buy” phrase has earned its reputation in the eCommerce world. All thanks to the AR & VR Technology that possesses the ability to visualize a product of your choice.

How can the power of AR and VR change the future of shopping?

AR and VR can enable customers to visit interactive showrooms and experience products. Customers get to make informed purchase decisions by simply scanning a product through a Smartphone and viewing a list of products available on numerous eCommerce platforms. It lets you flip through retail stores and flipping through product descriptions and dimensions.

AR and VR in Ecommerce
(Source – ecommercegermany.com)

Some of the greatest eCommerce companies are leveraging virtual reality to create incredible experiences and gain a competitive advantage.

Customers are more likely to purchase from brands that use immersive technology to market themselves, according to a recent survey.

On the other hand, retailers can now create virtual versions and take complete control of the exact replica of their physical store. Designing and modifying an online marketplace according to the fluctuating customer trends and product preferences is what the future looks like.

Building an immersive environment capable of simulating real-life is perhaps one of the greatest advantages AR and VR bring to the e-commerce industry.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

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AR and VR can allow consumers to immerse themselves further into the e-commerce experience, enabling the opportunity for rapid growth and increased sales, irrespective of a 360-degree video catalog delivery or simply an interactive digital experience.

AI Integrated Ecommerce App Development

Some of the greatest eCommerce app developments enable custom-made solutions using AI to make the right inquiry to the users. Customer analysis, climatic conditions in a specific location, and historical data from previous records can all be used to forecast sales for eCommerce customers.

With SaaS in full swing, it’s critical to hire eCommerce developers who can evaluate and automate a large number of customer interactions and processes on a daily basis. The stress on ever-increasing demands of automation challenges in web and mobile app development companies has had a huge impact on online shopping performance. The demand to hire eCommerce developers with a focus on end-to-end solutions increases the stress of offering a significant increment in user fulfillment.

That being said, automated eCommerce development translates into conveying the right message at the right time to the right set of customers.

AI-driven solutions can piece together a variety of insights to automate eCommerce developments for easing the lives of users. Making informed decisions in a matter of seconds is what AI in eCommerce stands for.

Are you looking help on your eCommerce app development! Lets Discuss

Top Reasons Of Fintech Application For Being The Role Model For Any Industries

Posted on by Jay

The Fintech term is stands for Financial Technology. When the financial system collaborates with the technology and produces an effective outcome, the term Fintech is used in the broad sense.

It is being applied as a term to address start-up affiliated with Fintech and as a verb.

There is no conventional meaning of Fintech since the word is developing within its reach and has reached itself from banking to other exercises like personal finance, mutual funds, and insurance.

You may consider this Fintech is something like logging into your associated bank account to your monthly statement using third-party application line PhonePe, YNAB, or Google Pay.

Beyond this, these financial apps can help you to mage your monthly bills, credit card balance, transitions, paychecks, and all your bank accounts in one place.

But if we look deeper, there are more financial technologies providing alternatives to traditional financial methods and financial services, further democratizing and segmenting the financial sector.

But in reality, financial technology provides more alternatives to the traditional financial methods and financial services as well. It makes the financial system accessible to everyone segmenting the business sector.

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Types of Fintech Application:

Different types of financial technology offerings endless solutions, from personal to business-scale finance management.

By honing in on different parts of the financial sector, private businesses can compete with traditional financial services – like those offered by major U.S. banks – through FinTech software solutions and focused quality tools.

By pointing/targeting multiple parts of the financial sector, some businesses can take part in conventional financial services. Matter to consider, the major banking system (of different countries) should allow the collaboration with Fintech tool.

Some of the main services of Fintech solution includes:

Note: All the above Fintech tool belongs to US market only.

When we come to the US market, let’s see what the statistics are saying regarding Fintech in the USA:

Fintech App Statistics for 2020/2021

Fintech App Statistics for 2020/2021

   Source: Finextra

The Top Reasons

So, the question is why many industries are investing in Fintech? And why are more enterprises are keener to adopt the Fintech solution rather than the conventional financial solution?

Let’s dig into the reasons;

It focuses on user-friendliness

Finances. Certainly, this not a soccer score-checking thing. For some people, it is overly confusing or maybe boring and complex.

So it is a majestic task for a fintech app designer to convince users with a smoother interface, menus, dashboard, and color combination where the banking does not have their expertise.

To make any fintech app successful, simplicity and understanding the customer’s requirements play the core role.

Altogether, the fintech app serves the UX principle befittingly.

I think Steve Jobs rightly described the  “Design” word – “Design is not just what it looks like and feels like. Design is how it works”.

Literally, the financial mobile applications are invented to solve the puzzles that we faced during conventional practices with a minimal effort given by the user.

So you can imagine, how much-leveraged analysis and effort have been given to make a Fintech Application successful.

And judging by the outcomes, numbers of business personalities are willing to join this niche.

High-driven Security

According to the 2019 Global Fintech Report by PwC, “40% of financial institutions believe blockchain will be driving change in the industry in the next two years”.

Security is a major pain point of financial technologies, and blockchain may be the long-awaited solution that will render fintech apps unbreachable.

Due to its distributed architecture and transparency, blockchain-based systems can deter targeted attacks or mitigate the effects of a breach.

With that in mind, the most credible fields of blockchain application in fintech are customer identity validation and payment processing security.

Fintech apps tend to become targets of financial fraud, but blockchain can put an end to it. Blockchain, with its shared transactional records, can be fully anti-fraud and tamper-proof.

When a financial record is created, any action performed on it—editing, copying, deleting, etc.—will be automatically put on the blockchain, making it impossible to conceal a fraudulent operation.

This makes blockchain especially effective for curbing fraud schemes that involve altering financial statements, for example, overstating losses and understating assets.

Strong Features

Fintech apps users appreciate the convenience of having a gateway to any financial operation on their smartphones, but what they also undeniably relish is that tracking their personal finances has become easy.

Now, all fintech apps allow customers to view their financial activities and spending history.

A customer usually has an option to visualize this information as graphs and charts to get a better understanding of their spending habits and patterns.

As a result, 62% of the US customers name a greater awareness of their financial situation as a mobile banking app benefit.

Fintech applications also assist in improving spending habits and making good financial choices.

Some of the more innovative apps went beyond that and implemented AI for evaluating users’ financial health, advising on how to improve it, or warning against reckless actions.

For instance, Status Money gives users spending recommendations and rewards for following them, while another fintech app, Emma, advises an optimal sum of money one can put aside at the end of each month.

Chatbots and Voice Assistants

Recent advances in machine learning and natural language processing laid the groundwork for the mainstream adoption of chatbots.

However, while in most industries customer support remains their only function, a fintech conversational bot serves diverse purposes and is steadily gaining traits of a full-on virtual assistant.

A fintech app user can turn to the conversational interface for different reasons: to check the account balance, to pay bills, to review the transaction history, to solve an issue, and so on.

A 24/7 chatbot swiftly comes up with the answer or performs the needed action, saving customers’ time and energy and the banks’ money spent on traditional support channels.

More sophisticated fintech bots, like Erica by the Bank of America, send reminders about bill payments, warn about a low remaining balance, and offer proactive financial guidance.

Also, a fair share of fintech bots is now voice-enabled, in line with the popularity of Siri and Alexa and the emerging voice payments.

This payment technology is gaining momentum due to its simplicity, and by 2022 up to 31% of US adults will be paying with their voice. The voice technology also makes a big difference to visually impaired clients, allowing them to use digital banking unhindered.

Fintech Is One Big Case Study

Fintech is ramping up, and its impressive growth is partially driven by mobile apps.

Playing catch-up with traditional banking, fintech has made a bold move and adopted the latest innovations to drive personalization, user engagement, and security.

As a result, the niche is steadily winning bank customers over while becoming a hub of transformative solutions.

Therefore, even if your future product has nothing to do with finances, it’s worth taking a close look at fintech mobile applications and explore the features that drive their success.

After all, if you want to learn, then learn from the best.

I’ve worked with the team at AndolaSoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

LEARN MORE

Conclusion

Yes, developing a fintech application from scratch is nothing short of a Herculean feat.

That being said, a proper mindset, dedication, and a certain level of pessimism (you’ll need it to always prepare for worst-case scenarios), paired with a  will get you through.

Don’t forget the core principles of successful fintech application development while you are at it.

Want to develop your FinTech App? Let’s discuss!

How To Make Ecommerce Application More Engaging

Posted on by Jay

So, as time grew tough and people are expected to stay indoors longer than ever, don’t you consider taking your business to your customer’s home? 

The mobile revolution is here affecting lives stronger than ever before.

Having a mobile eCommerce app is the trend today. It is the easiest way to reach your audience and provide them the services.

Apps have become an indispensable part of our lives. With the scope of the Internet expanding so well, apps seem to be a cheap solution for targeting a wider audience ensuring connectivity, across boundaries, across regions, across districts, and domains.

With the outbreak of the pandemic, online delivery of essential goods and services are no more a choice but has become a government priority.

The scope has expanded to the regions where it was unheard of. The capacity is being extended and explored.

This is a high time to leverage on an eCommerce app and help push your sales and profits in the upward direction. 

Before you start wondering about hiring a website developer to make your entrance into the digital domain, let’s talk about the success principles of an eCommerce app. 

A Successful and High Engaging Ecommerce App 

Before you plan to take your business online, let’s talk about the basic principles of a successful and high-returning eCommerce app that would help your audience enjoy your services from the comforts of their bedrooms. 

Principle 1: Assessment for Customers

When you decide to take your business to your audiences’ devices make sure it has everything that they would need.

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All the services, products, and variations should be mentioned clearly and easy to navigate. The ability to bring on-screen what your customer wants is the key here. 

Principle 2: Life Is Easy for Customers

It is important that the app you are about to launch serves its purpose well. It should be designed and developed in a way that the user can easily navigate through it and make payments.

If your users get what they want in the shortest navigation, your app is going to slay the market, surely.

Principle 3: Element of Surprise for Your Customers

This is one thing that is going to earn you great ROI. Surprises are something that everyone loves!

Add some interesting elements, offers, and discounts for your customers that would make them stay connected with your business.

And if you have something interesting that your customers need to know about then just a few notifications. Interesting way to market, isn’t it? 

Principle 4: Space for Your Customers

Give your customers some space for themselves. They need to express their gratitude, complaints, and reviews.

This is a great way to see if your customers love your product or not. Also, this would increase their engagement with the app.

You can click here to hire salesforce consulting services to come up with a CRM your customers can engage with easily. Done!

These are the four principles on which the foundation of an eCommerce app is built.

It is important that your eCommerce app developer sticks to these principles before bringing something else on the stage.

Now that we know the principles let’s further move ahead and see how to develop an eCommerce app your customers would love. 

Develop an Ecommerce App That Sells!

When speaking of Eommerce app development a lot of organizations have sailed through the turn of tides in the app market.

They all excel in building applications that are unique for each customer. Here’s a detail of the process of building an eCommerce app that succeeds in today’s market scenario. 

Define the Niche

The first thing before you set a store is to know what you are going to sell.

This is the first step. Identify your niche and enlist the products and the variations that you plan to sell. Studying your audience and the targeted area is a great move.

When your niche is decided, the buying tendencies, popular items, importing certain stuff, etc. can be explored better. 

Knowing the niche would help you determine the design and style of your app.  

List Essential Features

When the product engineer plans your app, it is important they enlist the features that need to include in your app.

These features should fulfill the purpose of your app and help the audience reach the desired item in the least number of clicks.

Some essential features that the simplest eCommerce app to the most creative ones should have been are mentioned here:

  • Authentication feature for app set up 
  • Categories and subcategories to search for the product 
  • Review system to increase user engagement 
  • Integrate payment methods 
  • Interesting and compelling push notifications 
  • 24*7 customer support 
  • Features for intuitive analysis 

These are just a few features that even the basic eCommerce app has. You can further add features that would make things easier for you and impress your customers.

Design Element Aesthetic 

 The pinnacle of the success of your app is its visual appeal. The user aiding design makes it easier for the customer to interact with the app.

Coming up with a design that interacts with the user and provides keys and buttons to navigate easily is something that your customers would love.

The important points to consider here are:

  • Placement of essential features 
  • Simplifying check-out process 
  • Ease of order placing 
  • Simple tracking 

These are a few things that your product engineer needs to consider before the implementation and development part begins. 

Find the Right Platform

Now, that we have moved to the development part, it is important to find the right platform for developing your eCommerce app. It could be android, ios, or Progressive Web App.

Many on-demand app developers make it easier for their clients to select the right platform considering the region of their operation, the economic situation of priority customers are all the determining factors of platform selection.

The right platform makes it easier for you to reach the target market and generate the expected ROI. 

Test Your Application

As the platform is decided, we next move to eCommerce application development. Often developers ensure the working of functionalities and features with the help of a QA and testing team.

Some of the standard test cases that are considered are: 

  • Execution pattern eCommerce application
  • Online payment functionality
  • Compatibility with web browsers
  • SEO and mobile responsiveness
  • Social Media integration

Testing and quality analysis of the app is important. Once the app clears this phase, you can be assured of bringing in the market a flawless app. 

Launch Your App

Now is the right time to launch your app. In the first phase, you would rather be interested in marketing strategies to make your app popular before it is brought to the market.

Most companies use traditional techniques like social media promotions, google ads, video ads, and many other techniques like gaming, offers, etc to take the app to the right audience as quickly as possible.  

And with this, you are all set to hit the market with your eCommerce mobile application!

Bonus

One thing that keeps any eCommerce-based company moving ahead of its competition is its way of treating the customer and responding to their queries.

I’ve worked with the team at Andolasoft on multiple websites. They are professional, responsive, & easy to work with. I’ve had great experiences & would recommend their services to anyone.

Ruthie Miller, Sr. Mktg. Specialist

Salesforce, Houston, Texas

LEARN MORE

One needs to be really creative and think out-of-the-box to reflect their care and affection for the customers.

Find out innovative strategies to engage your customers with the app and you are ready for the long run. 

Conclusion

A dexterous study of the steps here would help you come into the market with an app that reflects well. 

Most developers follow these steps to make sure that their client’s app is unique and innovative and hits the road to success in a matter of weeks.

If you are looking forward to coming up with an eCommerce app like Amazon or eBay, all you need is to have a basic plan ready.

Once you have a basic plan of what you need, hitting the market with a high-reflecting app would become a child’s play. 

Do you still need more clarification for developing a high-engaging app? Let’s discuss.

CakePHP Frameworks Advantages And Disadvantages

Posted on by Jay

However, the acute modularity of PHP permits builders to create their personal net frameworks and solutions on the pinnacle of the language.

Some of the most famous PHP frameworks encompass Laravel, Yii PHP Framework, Symfony PHP Framework, and CakePHP.

As of 2012, CakePHP is one of the most popular web frameworks for the development of custom content material control answers and incorporated social networking answers for diverse organizations.

For a large variety of first-rate net applications, Cake PHP development has emerged as the mainstay of developers worldwide.

What is CakePHP?

CakePHP is an open-source PHP framework that uses the MVC (Model-View-Controller) method for net utility development.

The framework is especially stimulated via means of the Ruby on Rails idea and has garnered praise for its simplicity in addition to extensibility.

CakePHP has been used notably via means of Fortune 500 software program agencies inclusive of Cisco and Corel Inc.

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In addition to via way of means of different organizations along with anti-virus makers Bit Defender, automobile dealership auto trader.com and men’s style magazine Men’s Health.

Benefits of CakePHP Framework

CakePHP offers a plethora of blessings for builders compared to traditional archaic PHP development modules. Some of the maximum important features, advantages, and benefits of CakePHP are:

MVC Pattern

CakePHP lets in for models; with a selected model elegance that can be used to insert, update, delete or examine records from the database.

The view sub-machine handles records rendering at the display screen whilst the controller strategies and reaction to activities in addition to altering records earlier than interacting with the models.

Such a machine lets in for smooth separation of the good judgment of the internet application from the presentation, which makes development faster for massive programs and complex websites.

Object Relational Mapping

CakePHP helps item-relational mapping which improves the manner builders can create internet apps without problems.

Object-relational mapping infers to a programming technique, in particular in item-orientated programming in which every item is mapped to a selected records kind the use of a relational version, and the records kind may be without problems changed to fit the necessities of the developer.

Auto-Detection

The pleasure of CakePHP development is the minimal attempt spent through the developer withinside the configuration of the machine.

Every sub-listing and its contents in the accessible listing are auto-detected through CakePHP, such as custom scripts.

The developer best has to install the database and its connections to CakePHP, and the framework looks after the rest.

Extensibility

One of the best blessings of present-day programming languages is their extensibility thru modules, libraries, and plug-ins.

This guarantees that for massive quantities of the code, the developer wants not ‘re-invent the wheel’ and write features and training from scratch.

The modular nature of CakePHP lets builders re-use code, with extra modules and components easily incorporated through the framework the use of its auto detection toolkit.

Ajax Support

Modern internet programs frequently want to exchange records among the consumer and the server even whilst the software is running at the browser.

Traditional PHP refreshes the web page every time new records are acquired from the server: a big drawback for growing internet-primarily based totally programs consisting of spreadsheets, phrase processors, and email clients.

AJAX lets in for the asynchronous change of records and has ended up a fashionable exercise for internet builders to create wealthy and immersive web applications.

CakePHP natively helps AJAX and may be utilized in numerous ways, such as forms, events, or even version courting events.

The PHP

This is a tough and quite incorrect question to consider. So let’s get a hint. Python is a general-motive language. A lot of programmers no longer surely use Python for internet development alone.

With the proper set of frameworks, it may be without troubles implemented for GUI software program development and extra complex subjects.

Tkinter and Kivy may additionally allow you to develop a software program for a molecular or laptop platform. There are also Python libraries that are probably being efficiently used for Big Data Science and Machine Learning.

Offshore development corporations make some crazy subjects with this programming language.

PHP, on the alternative hand, is more often than not associated with internet development. It’s not like you couldn’t make a non-internet software program in PHP. But you wouldn’t.

So in the vicinity of doing a thankless job, we are able to attempt to decide what language is better to use for internet development specifically.

PHP was created in 1995 and because of that, has accumulated a big community spherical itself. Programmers around the world nonetheless grow frameworks to extend the functionality of this language.

PHP has become used withinside the creation of internet webs web sites like Wikipedia, Facebook, Yahoo, and Tumblr. It definitely dominates the internet development market with its share of spherical 80 consistent with cent.

So the question about which one is extra well-known, PHP or Python, for internet development, is already resolved.

Python has become created in 1991. There are an entire lot fewer Python-made websites, however, this language wins in a traffic-per-internet site competition.

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It is utilized in Google services, YouTube, Dropbox, Instagram, Pinterest, Reddit, Spotify, and Quora. It is also used hundreds for the capabilities of browser automation, tool learning, internet scraping, statistics assessment, and the Internet of Things.

If you recommend growing a website, you are probably going to pick out amongst the ones two. Both have their benefits and drawbacks in advantageous situations, like in masses of various programming languages.

Both languages are open-deliver and multi-platform. They every moreover have particular documentation and an actively contributing community. But let’s examine how they range from one another.

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The Key Challenges For Fintech App Development

Posted on by Jay

Fintech, this term is the combination of “finance” and “technology”.

It refers to any enterprise taking the advantage of the technical solutions to develop an automated or high-performing financial process.

From insurance to cryptocurrency, investment apps to mobile banking, wealth management apps to personal banking, fetch domains take many shapes and sizes.

Thinking about fintech, probably you may think about new startup businesses that include cutting-edge technologies. But with a broad increase of usage of fintech solutions, the traditional finance industries, as well as banking sectors, are also adapting it.

Fintech applications differ significantly from project to project. Several of them use data science technologies, machine learning algorithms, and cutting-edge technologies like blockchain to perform different tasks.

You may say, this is a brand new industry. Yes, certainly it is. It has evolved rapidly during the last decade.

So, let’s see what statistics are saying..

FinTech Statistics

Obviously, the development of technology to gather shifting needs within the financial segment is not new.

However, today’s fintech is changing the old systems at an unexpected pace. Fintech has quickly included in our daily life as well.

Fintech statics

Source: statista.com

This combines with the skill of digital finance to level the field as long as more fair access to service guides to consider the reach of change today.

In addition to this, the changes of consumer behaviors during COVID-19 resulted in new booming possibilities for the fintech industries.

As the fintech domain continues to gain thrust, different sectors are also adopting this solution.

Benefits of fintech app

Source: Tipalti

The Key Challenges

I think we have made enough discussion regarding the Fintech domain and its outcomes. But certainly, we need to build this. There is no pre-developed theme like the fintech app is available.

And tech experts need to develop it from scratch.

Now let’s see what are the common challenges you can face for fintech app development?

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Understanding the Business Logic

Each single product or any techno development journey always begins at square one – discovering a market gap and identifying a solution you can implement within your application to fill it.

This stage is quintessential to the overall success of the project, but many people overlook its application on consecutive stages.

If you are planning to include a feature into your product – any feature – your justification needs to be better than it “looks and feels cool”, or “my competitors have it”.

Finding the Perfect Team

Most businesses face the age-old challenge when trying to build an effective fintech development team from the ground up: people with more technical backgrounds are not as well-versed in the business aspect and vice versa.

Well, here’s some food for thought. Should one focus on looking for talent with a financial background or will their experience slow down the technological innovation turning your product into the same old “bank with an app” just because it is safer that way?

Choosing the right Technology

What is a tech stack? In simple words, it is the combination of technologies (frameworks, programming languages, APIs, etc.) that one uses to develop a project.

A tech stack is usually divided between two core elements: The client-side: This is the part of the project users will interact with. Everything from interfaces to navigation and UX goes here.

 The server-side: This is the part that ensures your software works as intended though it is not visible to the user.

Everything that’s taking place between the database and the server goes here. Both should be complimentary of one another. But how do you settle on the perfect tool for the job?

Let’s take a look at Artificial Intelligence (AI) and Machine Learning (ML), Big Data and Data Analytics, Robotic Process Automation (RPA), Blockchain.

It is the most widespread architectural language among fintech development projects, finance management firms, and banks for a reason.

Or several reasons, to be precise. 

Make it Efficient to use 

With the tech stack settled and the team onboard with mission and vision, designing the app is the next logical step.

Think about it: It takes a thorough understanding of what your audience wants and how they want it to develop a competitive fintech solution people will fall in love with from first glance (tap?).

Why? Well, if put simply, the design is more than a pretty interface or a set of user-friendly features. Those are necessary elements, sure, but they are highly subjective.

You will not be able to match everyone’s preferences. Nor should you even try.

Project Architecture

Not that every piece of the puzzle is in place, it is time to set the development process in motion based on the bigger picture – the architecture of your project.

This stage brings a series of decision-making challenges such as choosing card and payment processors, partnering platforms, a services vendor, etc.

On the one side, there’s a lot of SaaS solutions that offer a complex package for KYC, card, and payment processing.

They are relatively accessible and capable of dramatically enhancing time-to-market delivery.

On the other, these solutions often lack the flexibility needed to match the ever-changing regulatory requirements.

In the worst-case scenario, they will force you into an endless loop of sorting out legacy code issues. You don’t want to be running your project in the shoes of Sisyphus, do you?

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Salesforce, Houston, Texas

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Conclusion

Yes, developing a fintech application from scratch is nothing short of a Herculean feat.

That being said, a proper mindset, dedication, and a certain level of pessimism (you’ll need it to always prepare for worst-case scenarios), paired with a  will get you through.

Don’t forget the core principles of successful fintech application development while you are at it.

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