Why should companies look at pre-built teams instead of individual hiring?

The IT industry is on full throttle with an estimated increase of 7.10% annually (CAGR 2022-2027). The projected market volume is $1,570.00 billion by 2027. As the industry expands, there will be an increasing demand for tech talent. 

However, many companies need help hiring, training, and retaining talent. One solution is to hire pre-built teams tailor-made for their specific needs. These teams can provide the skills and experience required to meet the demands of the businesses. In addition, they can be hired flexibly, making it easier for companies to scale their workforce up or down as needed. 

This post will elaborate on this concept and why tech companies should rethink their hiring strategies for smooth and efficient business delivery. 

What are pre-built teams?

Pre-built teams are groups of professionals who have already been assembled and are ready to start working on projects immediately. These plug-and-play teams have all the necessary skill sets already in place. 

This can save time and funds while ensuring your project gets off to a good start. 

Why a pre-assembled team is the first choice of entrepreneurs

A Deloitte survey shows more than 54% of global companies outsource their IT functions. Rightly so. Sometimes, it can be daunting for CTOs to build an optimal tech team.

Pre-built teams offer several advantages over traditional individual hiring practices.

  1. Pre-built teams can be quickly assembled and deployed, which is essential in today’s fast-paced business environment.
  2. Pre-built teams are scalable, which means they can be easily expanded or reduced to meet the changing needs of the business.
  3. Pre-built teams are more efficient and skilled than individual hires, which results in better business delivery. As a result, pre-built teams offer a quick, scalable, and efficient solution for businesses that need to fill talent gaps quickly.

Who should hire pre-built teams?

A pre-assembled team is ideal for complex long-term projects that may extend further. Let’s look at when you should hire a ready-to-go tech team.

Start-ups

There are many reasons why start-ups should consider hiring pre-built teams. The most important reason is that it can help to save a great deal of time and money. The CEO of one major fintech unicorn stated that he spent one-third of his time on recruitment.

When start-ups are in the initial phase, they often have minimal resources and need to make every dollar count. Hiring a pre-built team can help get the start-up off the ground more quickly and efficiently without investing in costly recruitment and training processes.

Long term projects

Long-term projects can be difficult to staff. They often require specific skills and knowledge, and finding the right people can take time. This is where pre-built teams can be helpful. These teams can hit the ground running, which is vital for any long-term project. With a pre-built team, you can start your project immediately without worrying about recruiting and training new staff.

Projects with vague requirements

Projects with unclear requirements can be challenging to manage and often result in subpar results. This is because it can be challenging to define the scope of work clearly, and there is often a need for more communication between the stakeholders. As a result, it is often more beneficial to hire competent pre-built teams already familiar with the project requirements. This can help ensure the project is completed on time and within budget.

Short on tech talent

Many companies find themselves short on workforce due to various factors, including increased demand for their products or services or seasonal fluctuations. In these situations, finding the time and resources to source and train new employees can take time and effort.

Thus, by hiring a team that is already trained and experienced, companies can short-cut the onboarding process and quickly get new employees up to speed. In addition, pre-built teams can provide much-needed flexibility during periods of high demand.

In essence, whether or not to hire a pre-built team depends on the business’s specific needs. However, in general, companies can benefit from the flexibility and speed that a pre-built team can provide.

Get the best tech team with iView

If you wish to skip the hassle of building a tech team and get going with a plug-and-play model, iView can be a potential partner.

iView Labs is a reliable partner for finding tech talent and building an efficient tech team. With iView Labs, you can access hundreds of pre-assembled, specialized tech teams ready to work on your project. You can also find pre-packaged services with a clear scope of work, timelines, and costs. iView Labs is the perfect solution for your unique tech needs. We’ll assemble your team fast and deliver the work you need on time and within budget.

Footnote:

At iView Labs, we offer on-demand technical team talent 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.

What is the easiest and fastest way to find tech talent for your business?

Technology is a constantly changing puzzle that only the brightest minds can solve. Modern employers recognize that building a tech team is the first and the most crucial step toward the business’s success. However, there is a global tech talent shortage because of the shrinkage of the talent pool. You must have experienced that getting the best minds isn’t just a challenge now; it’s a chaotic race against the clock.

As global businesses go the tech path, qualified IT specialists are in demand more than ever. However, there is a widening skills gap. According to Gartner, 64% of new or emerging technologies could not be adopted due to a lack of qualified team members. This has serious revenue implications – a new Korn Ferry report shows that by 2030, the U.S. could lost out on at least $162 billion in annual revenue if they don’t find the right tech talent. 

Find the right tech talent 

Tech professionals roday understand their value proposition and how much impact they can make, which means that they hold significant leverage in hiring situations. Understanding their needs, anticipating their wants, and accommodating their aspirations are the keys to acquiring such talent quickly and with minimum hassle. 

Here are some strategies to make the tech talent hunt go easier and faster for your business:

  1. Find tech talent and make them choose YOU: In such a competitive market, ensuring that your organization stands out from the crowd is essential. One way to do this is by connecting with potential candidates during the hiring process. By getting to know them and understanding their goals, you can show them that they would be valued as team members, not just hired hands. This can go a long way in persuading them to choose you over other employers.
  1. Advertise Your Positions in the Appropriate Places: Advertising the role is one of the most critical steps in finding tech talent. You can look for a talent pool on job portals like Indeed or social media channels like LinkedIn. Non-traditional channels like GitHub are also where talented techies hang out. Or you can outsource the entire process to an organization with expertise in team building.
  1. Impact of Employer Branding: Employer branding can be a powerful tool when building a strong tech team. By shaping how prospective candidates perceive your brand, you can influence their decision to join your team. And because employer branding can produce immediate results in the hiring process, it’s an important strategy to consider when you’re looking to build a top-notch tech team.
  1.  Tap into your personal and professional networks for referrals: While job portals and social networks may be a great place to start, in today’s job market, it’s more important than ever to get the word out about open positions at your company. While traditional methods like job boards and classified ads can be effective, you may miss out on a large pool of qualified candidates if you don’t utilize social media to its full potential.

Common Mistakes to Avoid when finding tech talent

  • Complex Application Procedures: Long application processes can turn off potential talents. It also simply delays hiring.
  • Delayed Interactions: Act promptly and without delays. Delayed responses can imply to candidates that you are uninterested in their application. Meanwhile, other organizations may sweep off the top talents.

Integrating and onboarding a tech team 

Once you build a tech team, the new talent may seem self-sufficient initially, but the full potential will only be realized with training. So complete training – make sure your investment pays off by getting everyone up to speed. Scheduling training sessions ensure that the new team members and business owners are all on the same page. 

Before you begin your training program, some pointers can be of immense use:

  • Roll in the change: Employees must be able to grasp the larger picture and comprehend business drivers. Before you teach your personnel about the business requirements, prepare them “culturally” for the transition.
  • Allow enough time: With more new things to learn and busy work schedules, training may quickly become boring, so plan and allot enough time.
  • Ensure accessibility and availability: Using in-app training or just-in-time interventions using microlearning modules is ideal. Maintain contextual and customized training.
  • It’s an ongoing process: Use tactics such as meeting with the subject matter expert/project managers, tests, videos, mailers, Q&A, and follow-up sessions.

Make use of expert solutions

A lot goes into building the right tech team. It can make or break the organization. But what if you could find tech talent that is “plug-and-play”? A tailor-made team just for your business needs? That would make life so much easier. Fortunately, there is a way to do just that. 

By working with a company specializing in placing tech talent, you can build a team with the right skills and experience you need. And you can spend your time and resources on something other than hiring. These tech organizations will handle all the details, from identifying candidates to conducting interviews. So, working with an expert tech organization is quick and easy if you’re looking for a hassle-free way to build a top-notch tech team.

Find tech talent for your company with iView Labs

At iView Labs, we help CTOs build remote tech teams. With over a decade of experience and over 25 active partnerships, iView Labs helps you build, manage and operate tech teams.

iView Labs specializes in connecting businesses with the best tech talent. We take the time and effort your company needs. Then, we use our extensive network to find candidates who are a good fit for your business. With iView Labs, you can confidently find the perfect tech team for your business.
To learn 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, write us an email at info@iviewlabs.com and sales@iviewlabs.com.

How non-tech founders can build great technology companies

If you’re a founder from a non-tech background, you may feel disadvantaged when building a technology company. You may need to figure out where or how to start. But with the right advice and resources, you can overcome these challenges and create a successful tech company. In this blog post, we’ll discuss some tips for non-tech founders and helpful resources that will guide you through the process. So don’t worry – you got this! Just follow these simple steps, and you’ll be on your way to success.

Building a product/service without understanding of the underlying tech can be tricky. You may face some challenges like:

Hiring a technical team

Building a tech team is the most challenging part of setting up a startup. You need to find tech talent that is suitable for your business needs. Sourcing, engaging, and hiring tech talent takes a lot of time. If you are looking to hire developers, you need to figure out the entire development pipeline. Assigning them roles and responsibilities can be challenging if you don’t know the tech. 

To overcome this, non-tech founders can benefit from the expertise of a reliable pre-assembled plug-and-play tech team. Instead of worrying about recruitment or team leadership, you can focus on developing your product or service.

Finding a co-founder with a tech background

While having a co-founder with the tech expertise is not mandatory, they can help build a tech team. They can also be critical players in business-related activities such as networking, pitching to investors, presenting your products at conferences, and gathering user feedback.

Many benefits come with finding such a co-founder. But recruiting a technical co-founder can be challenging too. Many non-technical startup founders need help figuring out where to start looking for such experts.

Solution?

Outsourcing with an external tech company means that you’ll be benefiting from the technical expertise of teams that may be located all over the world. This helps broaden your search and find people excited about your product. Plus, you can always leave the door open for bringing a tech co-founder on board when the time is right.

Non-tech founders have succeeded and how!

Wonder if you can succeed as a non-tech founder? There are plenty if you are looking for some inspiration. Founders with no education or work experience in the technology space have gone on to become successful entrepreneurs.

Brian Chemsky is one such name. He and co-founder Joe Gebbia famously built the 100 billion dollar business Airbnb without an iota of coding skills. The duo were industrial design/graphics design graduates from Rhode Island University. Today, Airbnb is over six million rooms strong in over 81,000 cities globally as of 2020. 

For another non-tech entrepreneur, the journey began in 2012. Falguni Nayar, the founder of the Indian online cosmetic marketplace Nykaa, was a banker for two decades before dipping her toes into entrepreneurship at age 55! Nykaa specializes in multi-beauty and personal care products. Today, the e-commerce giant is valued at approximately $13 billion after its recent listing on India’s National Stock Exchange.

Similarly, Alexis Ohanian, a non-technical entrepreneur, co-founded Reddit. As a prominent news aggregator, Reddit receives over 1 billion page views per month and can convert a news topic into a viral hit. Ohanian co-founded Reddit with co-founder Steve Huffman after graduating from the University of Virginia in 2005 with degrees in commerce and history.

We could go on and on. But the bottomline is, if they can do it, so can you. Let’s see how. Start by building a solid tech team.

How can you build a strong tech team?

Finding tech talent is difficult for many CEOs. After all, even if you know your business well, it might be tough to discern if the person you hire can truly accomplish what is required of him/her. According to a McKinsey survey, 61% of HR professionals believe building a tech team is the most challenging for them in the years ahead.

Regardless of the daunting hurdles in finding tech talent, established organizations can only expect to survive in the digital era if they are technologically strong. As a result, IT talent should be the CEO’s top focus.

Here are a few tips that will go a long way if you want to build a tech team as a non-technical founder/entrepreneur.

Multi-pronged approach

Filling your tech-talent demands is becoming a multidimensional competition. Companies must spend concurrently throughout the “hire to retire” life cycle.

This begins with creating a digital-talent engine; a dedicated team is tasked with managing the whole employee experience, from hiring and onboarding to generating new career pathways and continually upgrading capabilities.

Bridge the talent gap

Do your employees have the skill required to fulfill your business needs? Analyze the skill gaps of your employees periodically and develop training sessions to refresh their existing talent or upskill them.

Focus on candidate experiences

To find the perfect tech talent, a more effective approach is to focus on the candidate’s experience. You need to improve the virtual candidate experience since 70% of companies in a recent survey said their recruiting and onboarding was at least half virtual. Some ways of doing that include the following:

  • Tech talent want to meet other technologists, so ensure that engineers and other relevant roles are part of your interview team. 
  • Promising applicants are ambitious and have a wide range of possibilities. Create an interview and evaluation strategy that can result in a decision in as little as one day.
  • Because IT talent isn’t only going to job boards, be active in non-traditional channels like hackathons, open-source channels, and skill-specific curated sites. 

iView Labs as a talent partner

iView Labs can be a potential partner that helps businesses find tech talent. We have a team of experts who know how to find the best tech talent. This way, businesses can focus on building their product or service and not worry about the nitty-gritty of hiring. iView Labs is a reliable partner that you can trust to build a tech team for your business.To learn 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, write us an email at info@iviewlabs.com and sales@iviewlabs.com. Download the latest portfolio to see our work.

Top 3 Reasons Why Enterprises Need Zero Trust Security Model

Data breaches are becoming more pervasive every day and so must our understanding of modern day cyber-attacks. According to Gartner insights, businesses have spent more than $123 billion on security in 2020 and now projected to $170.4 billion by 2022.

Due to the accelerating number of cyberattacks, every organization needs a robust mechanism for a risk-free digital ecosystem. Zero trust security model can help businesses to create the most secure environment while mitigating the risk of any security breach.

Let’s discuss zero trust security model in detail and learn why enterprises should implement zero trust security model without any further delay.

How do you define Zero Trust security and why do you need it?

Zero trust security refers to a security approach where enterprises shouldn’t by default trust any device or individual without proper verification. You can get the highest level of security and mitigate the risk of a data breach or unauthorized access by deploying zero trust architecture.

Traditionally, many businesses used to protect their valuable resources with the help of perimeter security strategies and using firewalls and other network-based tools to inspect and validate users going into and out of the network. However, transforming to hybrid cloud infrastructure and digital transformation are changing the way industries do business now.

Many organizations are now working with several security solutions and tools with poor integration. And due to this, security facilities are dedicating a longer time to manual activities. Zero trust addresses the security needs of this data-driven hybrid cloud environment providing organizations with adaptive and continuous protection for users, data, and assets, and the ability to manage threats proactively. Applying a zero trust framework, you can produce several corollary benefits, such as:

  • Improved network performance due to reduced traffic on subnets
  • Enhanced ability to address network errors
  • Streamlined logging and monitoring process due to the granularity
  • Rapid breach detection times

What are the Components and Business Benefits of Zero Trust Security Model?

The Zero Trust security model includes

  • Zero Trust architecture (ZTA),
  • Zero Trust Network Access (ZTNA), and
  • Zero Trust Edge (ZTE).

Here are some proven benefits of zero trust security model that you should know about: 

Secures Business Information and Brand Name: Are you aware of the reputational damage that businesses across the world suffer when sensitive business data gets leaked?

Hackers are always trying to expose, infiltrate, and profit from sensitive information through malware, sophisticated social engineering techniques, or third party supply chain cyber attacks. According to research, 93% of successful data breaches occur in less than one minute and 80% of businesses take weeks to realize a breach happened. 

An efficient Zero Trust Security Model allows only authorized and authenticated individuals and devices to access applications and resources. This model also helps to mitigate data breaches, avoiding many negative consequences.

Ensures Greater Transparency: You can get greater visibility with the help of Zero Trust by securing all information and computing sources. You also can gain access to specific resources through a robust authentication process. This will help always keep track of who can access your business’s network.

Safeguards Remote Workforce

According to a survey, around 73% of IT professionals are concerned that the distributed workforce has eventually introduced new vulnerabilities due to the sudden shift to the remote working ecosystem. Identity can be linked to applications, users, and devices for seeking access, and augmenting security with the help of Zero Trust Security Model.

Wrapping it up

It’s time to make cybersecurity a priority, and businesses and governments must be proactive in adopting zero trust to confidently provide a cyber-secure future to customers, partners, employees, and citizens. It is imperative for any organization to protect, detect, and mitigate modern-day threats. The zero trust security framework offers network visibility and constant monitoring that verifies user identity and privileges as well as device identity and security. Zero Trust is designed to monitor how many different devices are trying to access their network, ensuring that every device is authorized, and assess all devices to make sure they have not been compromised.

For those undergoing digital transformation, finding the right partner who can deploy Zero-trust security is often a challenge. We at iView Labs are trying to help as many organizations as we can in an endeavour to build a safer, more secure corporate ecosystem. Learn more about how we can 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 to Use Webflow to Build No Code Websites?

Have you ever wanted to build your dream website but you just don’t know where to start? Going through the tedious process of learning to code in HTML, CSS and JavaScript can be far too monotonous and time-consuming for most. Even for those with knowledge in coding, a lack of experience with web development scripts could mean their ideal website is still out of reach.

So, how do businesses go about creating their websites? The most commonly used solution in the market is to hire an external development team. Though an effective solution, hiring developers can be hugely expensive, especially if your business is just starting out. Furthermore, with regular maintenance a necessity for websites, expenses are sure to keep flowing.   

But what if there was a way to bring your perfect website to life without the struggle, investment or dev time of any coding?  To make this a reality, your ultimate solution is Webflow!

Webflow: Your Dream Website Without Code

Webflow is a sophisticated software-as-a-service tool that allows designers and creative minds to create their ideal websites without the necessity of any code. This all-in-one website design and development solution automatically creates HTML, CSS, and JavaScript for users as they use the software.

According to Webflow’s official website, there are over 3.5 million designers and teams that utilize this SaaS solution to collaboratively create and scale beautiful websites in a completely code-free canvas. By providing creators with a blank visual canvas and infinite possibilities, Webflow enables the creation of highly customized and professional webpages. Another prominent feature of Webflow is the ability to host the created interface on any platform with ease, allowing you to quickly transform your creations into fully functional websites. 

The Tools of the Trade

Instead of learning multiple coding languages that can take up months or even years of your time, you can construct your perfect website by simply learning the Webflow platform. Here, we take a closer look at some of the tools that make up Webflow.

  • Canvas: This is your completely visible and codeless workspace. With clicks and drags you can start your creation here.
  • Add: The Add panel is very self explanatory; if you want to add a form, a personalized design or blocks of media to your digital interface, you insert it with the Add panel.
  • Style: With the Style panel, you can design and customize the components you’ve just added. Modify assets as you wish to create your interface without any compromises.
  • Pages: The Pages panel allows you to adjust the all-important SEO settings and move between pages.
  • Assets: The Assets panel allows you to upload media files and drop them straight into the interfaces that need them. 

Steps to Create Your No-Code Website

Now that we know what Webflow is and the different tools that we have at our disposal to shape a website, let’s dive into the process of creating a no-code interface.

  • Step 1: Join the Webflow family

It goes without saying, signing up to Webflow is the first step on your code-free website creation journey. Just the free Starter account alone comes with a plethora of fonts, templates and features. 

  • Step 2: Have Content Ready to Go

Before you create your website, it is imperative for you to know what content goes on each page and the overall organization of your interfaces. Building a website around the content you wish to communicate is both smart and effective.

  • Step 3: Start From Scratch or Pick a Template

Webflow provides users with the choice of starting from a completely blank canvas or building up from an already existing template. Even for those with little designing experience, creating a website is made super simple!

  • Step 4: Learn the Interface

Before building the website of your dreams, it is crucial to learn the ins and outs of the Webflow interface to maximize your abilities. Take some time to study the platform before venturing out into your creative journey.

  • Step 5: Add, Design, Update

After you learn what Webflow has to offer, you’re ready to begin. Add templates, fonts, formats and files to your webpage, style them out according to your requirements and update them whenever necessary.

  • Step 6: Test the Possibilities

Once you get a hang of it, the possibilities are endless. Experiment with your ideas to design and deploy an innovative and sophisticated website.

In Conclusion

At iView Labs, we believe in the power of technology to provide a platform for creators and innovators to showcase their talents. This largely coincides with the fundamental ideology behind the no-code movement, that technology should empower creative minds to achieve greater heights without an entry barrier. 

With knowledge of code acting as a necessary requirement for a highly creative process such as digital interface designing, many innovators never see their creative visions come to fruition. This is where Webflow serves as the ideal one-stop-shop solution for designers wishing to build websites without compromising on their vision and also without the need of any coding.

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 To Build An Exceptional Fintech Application

Introduction

The finance industry has successfully amalgamated with evolving technologies to meet the growing demands of its clients across several verticals. The emerging fintech industry aims to reach 2 billion people worldwide who do not have traditional banking accounts. The objective is to make banking services accessible to all with greater convenience and flexibility. That said, fintech apps across domains have been able to garner interest from not just the unbanked but also many who wanted to overcome bottlenecks of the existing banking systems. Today, even these traditional financial institutions are deploying fintech apps to keep pace with the dynamic, fast-moving fintech startup ecosystem. 

Today, you’ll see the daily lives of billions deeply enmeshed with fintech solutions, giving rise to one of the most advanced phases of human society. For instance, cross-border payments can be made with just the touch of a button- minus the extensive paperwork and approvals. Or, take a look at how convenient managing your investment portfolios have become. Fintech apps and platforms have made the Customer 2.0 self-sufficient to accomplish an array of financial tasks in a jiffy, without having to invest unwarranted amounts of time and effort. 

As per research by The Business Research Company, the Fintech industry is expected to grow up to $158014.3 Million by the year 2023! Payment options, intelligent banking solutions, investment planning and several other services are being built on the foundations of AI, machine learning, blockchain and advanced data analytics to create a seamless customer experience. 

Fintech App Development: The Journey

We can see a growing number of fintech apps in a market that aims to serve their customer base with a wide variety of functionalities. If there is an appropriate time to hop on the bandwagon, this is it! But how does one go about fintech app development from scratch?

In this article, fintech app development company iView Labs will discuss everything about it by helping you lay down the process of creating a stellar fintech application in six actionable steps.

Six Steps to Build a Robust Fintech App

  1. Find your niche: Before you set out to create your fintech app, make sure that you have covered all your bases in research. This will give you a fair idea as to what kind of services and niche would provide the most lucrative results, in terms of operations as well as revenues. If you’re interested in building a cryptocurrency-based site, the process will be entirely different from wanting to create a unified payments app. Fintech Mobile app development requires you to get several licenses and permissions. So, make sure you’re on the right side of legal compliance.
  1. Decide the features and estimate your costs: Once you’ve moved the niche and regulatory body’s permissions out of the way, it is essential to start thinking about the app’s functions. Charting the interface will need you to have a clear idea of how the app will work and what functions your users can perform while using your fintech app. This also brings you to deciding on a feasible budget that works for your organization, since many wonders about the fintech app development cost. Look upmarket standards before deciding on an estimate.
  1. Hire an app development team: While creating your own app development team is a great way to get things done, it can be a highly expensive affair. Finding and recruiting the necessary professionals for the job takes time and funds, which could otherwise be saved. Instead, consider hiring a fintech app development company like iView Labs, that has an extensive portfolio in your specific niche. It will save you time and get the job done more effectively, including quick deployment, round-the-clock support, and maintenance.
  1. Formulate the UI/UX Design: Once you’ve finalized your development team, it’s time to focus on the UI/UX design, which is the front-facing interface of your app. With the help of your app development experts, mention the exact specifications to curate your brand aesthetics, app elements, features, navigation, and functionalities. Once you’ve decided on these aspects with the app designer, the development team will quickly take over and curate your fintech app.
  1. Develop Minimal Viable Product: It’s a good idea to test your app before embarking on your app development process. A Minimum Viable Product or MVP contains all the basic elements of your idea that can be a good test run if you’re looking for feedback. It will show you how much value your customers can get, and make room for improvements if there are any errors, saving you development time.
  1. Modify and Support the Fintech App: The key to start a fintech company and keeping it going is having your apps tested constantly pre and post-deployment. There will always be new technologies, inclusions, and mandates that you’ll need to keep up with. Dedicating time to ensure that your site delivers a seamless experience to your customers will be the hallmark of your services.

Wrapping Up: 

It may seem intimidating to set out on the fintech app development venture all on your own, especially as a new entrepreneur or traditionalist business that’s transitioning into digitization. 

At iView Labs, we possess all the modalities, knowledge, and skills to deliver a fully functional, sophisticated, and impressive fintech application. Our professionals ensure not just the highest standard at the interface level but also the back-end of app development. To get started on your journey, contact us today. Stay tuned for more informative blogs on end-to-end development solutions on our portal!

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.

The Easiest Way To Launch An On-Demand Solution

In several studies conducted this year, the rise of the on-demand industry is clearly evident. The market size rakes an income of about USD 57.6 billion from US customers on an average each year. By 2023, the on-demand food delivery market is projected to reach $161.74 Billion. These numbers are not lost on emerging and existing businesses, as everyone wants to become a part of the incoming wave where customers rely heavily on on-demand services like Uber, Dunzo, Rideshare, and others. But what is the main essence of establishing your own on-demand app?

Many organizations prefer to curate apps from scratch, there is a huge market for on-demand solutions today. Owed to the ease it brings to business operations, companies are keen to provide an application that skips out lengthy processes like beta testing, development, and recalibration. 

Businesses can save up on such operational costs by delegating the development aspects to a third party who can get the work done effectively. For instance, a company that seeks to create a digital presence requires an internal development team to build its website, web app, or application.  However, it becomes a whole lot more convenient to let a third-party on-demand app development provider have the job done using their tailored approach. Just implement a white-label solution to solve all your problems with a simple few clicks.

The question that arises in such situations is how does a company go about launching an on-demand solution? iView Labs has the answer for you! Let’s look into six ways that can help you launch an on-demand solution that can immediately cater to your client’s needs- minus the hassle.

Six Steps To The Easiest On-Demand Solutions Launch 

Conduct the Necessary Market Research

Today, the on-demand app and solutions market is one of the most lucrative avenues for businesses to delve into. Be it on-demand healthcare solutions, or delivery services, all of them are thriving due to the evolving consumer persona. Customer 2.0 puts convenience and ease of living above everything else. Hence, it is a good place to start your research to find ways that add to the comfort factor of your prospective and existing customers. For insight into what works and what isn’t working, save time by looking into your competitors. They can become a shining example for learning from others’ mistakes while refining your solution structure and concept in the early stages. From your preliminary research of the market and relevant industry, you’ll be able to form an informed decision regarding:

  1. Any gaps and voids in the demand-supply bridge
  2. The niche of your on-demand solution
  3. The projected growth of such solutions
  4. Consumer expectations and receptivity
  5. Features and Functionalities
  6. Your budget for solution development
  7. Deployment strategy and timeline

Your Definition of Success

For every brand, success is measured in a unique way. Sure, your numbers can showcase monetary gains, but today, success is quite multifaceted. It can be defined as the number of customers served over a particular timeline, or the number of leads you acquire. If you’re a service-based company, the key decision-makers may use metrics like the Key Performance Indicators mentioned below:

  1. Number of active users
  2. Gross Margin
  3. Burn Rate
  4. Conversion Rate
  5. Customer Acquisition Costs
  6. Consumer Lifetime Value
  7. Operational Costs to Revenue Ratio

It is imperative that these KPIs be defined early on in the process because they act as a yardstick to compare your monthly, quarterly, and annual growth. It will also help your teams collaborate in perfect sync to work towards these common goals. If you’re choosing a white-label partner for your on-demand app development solutions, conveying these success markers will help them tailor your app to perfection.

Go Cross-platform and Multi-version for Your App

Have you heard of the multi-channel approach for enhanced customer experience? In the present scenario, businesses need to approach customers at their level, which includes the channels they prefer to use the most. As per Statistica’s study on internet usage in  April 2022, we’ve crossed the five billion internet users mark worldwide. This makes up 63 percent of the global population, which is a huge market to cater to. Additionally, the number of global smartphone users today is  6.648 billion. 

If a business launches an on-demand solution only in a singular model, it is most likely to touch only a part of its ideal customer base. However, this can be changed if they choose to consider cross-platform integrations such as mobile-optimized web apps, desktop browser versions, and the app store. It improves your availability, thereby helping customers find you wherever they wish, from any device possible.

Get the Right Solution Partner On Board

One of the biggest tasks after research and choosing initial markers is to select the best possible technology partner. For white label solutions, organizations like iView Labs can help with end-to-end development, from inception to the launch and post-deployment. One of the best ways to hire an on-demand app development company is to book a demo with them to check your conceptual alignment with theirs. 

Not only can this approach save you the costs of hiring specific professionals, but provide greater assistance in terms of a tailored approach. Setting up the terms of use, social handles, web domain, and app store approvals all become relatively hassle-free when the professionals have your back. Since they take care of the testing, modification, updates, and debugging, launch day would be a breeze while your team can simply assume control of the back-end.

Establish User Documentation and Guides: 

What makes your on-demand app development process better than 80% of the competition out there? Make sure that your customers have the smoothest user experience. As we’re living in the age of digital transformation, user documentation can no longer be moved to the sidelines. Prioritize, creating an extensive knowledge base for your users, be it demo recordings, CMS guides, agnostic chatbots FAQ, or meaningful content. The key is to have all the resources they need ready so that the struggle is kept to a bare minimum.

Revise and Reroute

Post-launch, you’ll receive a lot of feedback from customers and users based on their clickthrough rate, retention rate, or even abandoned carts. For instance, your delivery app UI has been a bit too unfamiliar for users to find real-time updates. Your job is to find out what aspects of your on-demand delivery app development can be refined, and make the necessary adjustments. The first six months are usually dedicated to such fine-tuning after which the app will settle into a simple feature addition, user-experience enhancements, or debugging process per update.

Wrapping it All Up:

The journey may seem meticulous, but the diligence pays off. Curating a lucrative solution for your customer base can be made easier if you followed these six steps while formulating a strategy. Be it an on-demand cab development solution or an online dispensary you’re seeking to build, the bottom line lies in having the right technological support. At iView, we strive to make the process of launching an on-demand app seamless with our bespoke 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.

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.

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.