As the world deals with the short and long-term effects of Coronavirus, the manufacturing industry has suffered significant challenges during 2021. This knock-on effect is likely to be felt into 2022 as consumer demand and spending habits have transformed during the pandemic.
The pandemic demonstrated that major events can have a profound impact on manufacturing operations.  Fluctuations between local and national lockdowns have directly impacted the manufacturing industry. Among various other things, it has led to delaying tax bills, postponed mortgage payments.
Knowing what challenges await manufacturing industries will help you and your team come up with the best strategy to achieve success in 2022. So, this article will cover some of the biggest challenges manufacturing industries will face in 2022. We will also look into how these industries can approach the challenges with the help of technologies.

Top challenges prevailing in the manufacturing industry-2022

1. Need to increase sales and revenue

The pandemic made businesses lose several thousands of dollars pushing manufacturing industries to put extra effort into recouping financial losses. Some companies chose to double up on their marketing efforts.
However, the right step would be to create a strategy to start building the business’s pricing power. Building a price power is the surest way to enjoy sustainable earnings.

2. Labor retention

The pandemic era has made it challenging to tackle labor retention issues among the workforce. As the pandemic continues, it is become increasingly hard to find experienced and motivated workers.
To complicate matters, with a fair portion of workers are nearing retirement manufacturing industries are facing a looming shortage of skilled labor. The newer technologies require a workforce with top-tech skills.

3. Customer self-service capabilities

Manufacturers are ever concerned about delivering their products to customers on time. Though the technology makes it possible for customer self-service capabilities, it is not commonly used.
Customers find it frustrating to constantly contact manufacturers for updates on their orders, requests for new proposals, and so on. Customers prefer immediate access to information.
You can address this issue by simply keeping the needed data for customers in a self-service portal. This will allow your customers to retrieve a solution. Plus it can enable the sub-contractor to track and accept tasks assigned to him without bothering anyone.

4. Maximizing work with minimum staff

The social distancing protocol due to the pandemic has forced manufacturing companies to run the factories with lesser staff. This is the time to explore the implementation of more automation technologies.
Read more: Top 10 Technologies That Will Transform Manufacturing!

Most-followed technologies that enable manufacturers to stay on top of the challenges

As Industry 4.0 is still in progress, most manufacturing industries are shifting gears in an effort to automate their manual processes. And the challenges are accelerating this shift now more than ever. Take a look at the top opportunities new technologies bring to the manufacturing industry.

1. Machine Learning and Artificial Intelligence capabilities

The biggest asset of any company is its data. It is vital to use algorithms to use this enormous amount of data effectively. Humans cannot do this task as efficiently, quickly, and accurately as by AI-led technologies. This ensures your manufacturing is more productive and less wasteful.
According to a global survey conducted by McKinsey & Company, 44% of respondents report cost saving from AI adoption.

2. 3D printing

Manufacturing companies can greatly benefit from 3D printing technology as it can enable manufacturers to make faster and cheaper prototypes.
It can double the performance while lowering the cost by half. It is a cost-effective way to troubleshoot or test the products. It also enables manufacturers to produce products that are in high demand.

3. Smart factories with 5G

The fourth industrial revolution is ushering in an era of smart manufacturing that is enabled with connected devices over 5G networking.
These can make decentralized decisions as the 5G mobile network is faster and more powerful. It is capable of handling full integration of all the devices in a smart factory making it a default choice of manufacturers.

4. Internet of Things

Industrial IoT makes it possible to interconnect sensors and electronic devices that collect and exchange data.  It drives AI and performs predictive analytics. IoT is changing the way products are made and delivered.
A study conducted by MPI Group revealed that roughly 63% of manufacturers believe that applying the IoT to products will increase profitability over the next five years.

5. Predictive maintenance

The manufacturing industry depends heavily on predictive maintenance technology. In the past, routine maintenance checks were scheduled to detect unnoticed malfunctions. But that would halt the production and cost money.
Today’s digital technology has enabled machines to send messages to notify workers if or when maintenance is required. These real-time alerts equip the maintenance team to identify and correct mechanical failures without downtime.

6. Shift in the scope of the job 

As technology takes over repetitive tasks, employees will need new skills. These skills would include data analysis, software engineering, programming, customer service. R&D and product development, and so on.

7. Agility and responsiveness

Changing customer demands and market conditions require manufacturers to focus on improving responsiveness and agility. Responsiveness and agility are achieved when the time to create, receive, schedule, and process a customers’ order is reduced.
This will enable manufactures to match production cycles and product demand levels. Matching these two aspects can help manufactures pump their operations with greater agility.
Read more: ERP Systems for Manufacturing: How it Improves Business Process!

Fingent can help revolutionize your manufacturing company

Identifying improvement opportunities can help your manufacturing industry enjoy significant benefits. Fingent can help you improve your business process and facilitate growth toward building an incredibly smart manufacturing plant.
Fingent is an efficient web and mobile app development company with vast experience in crafting remarkable digital success stories for diverse manufacturing companies across continents.
We will help you to stay abreast with what may affect your business and provide you with potential solutions available. To help plan for 2022 contact Fingent!

Building a successful business is a marathon. But determination and a business growth mindset can make it happen. If you are a business owner looking for a consistent approach to growing your business, you must realize that the essence of your company is the ability to establish trust with your customers.

True, building customer trust and loyalty takes time, effort, and persistence. But when you build trust, you are turning the key to rich dividends as your customer evangelists gear up to advocate your business. In turn, it increases brand visibility, attracts more consumers, and increases revenue.

In this article, you will learn the importance of building customer trust and loyalty in the growth of your business. You will also learn how emerging technologies can help boost customer trust.

Why Building Customer Trust And Loyalty Will Matter The Most Going Ahead?

As the world battles to contain the current pandemic crisis, customer trust and loyalty are being put to the test. However, it is good to remember that this is just one of the many crises we will face in the future. Now is the time to let your customers know how important they are to you.

Customer trust and loyalty are not just important where competition is fierce. It is a brand differentiator that could make or break a business. In a way, customer trust is an “insurance policy” against any future upheavals. It can ensure your survival if you face problems in the future. It will also ensure that your business thrives when others struggle to find a foothold.

Customer trust and loyalty are also important because they are constantly bombarded with various options. And for obvious reasons, this will only increase in the future. The need to build customer trust and loyalty has heightened, thanks to the immediate effect of emerging technologies.

How Can Emerging Technologies Help Boost Customer Trust?

Technologies are continually evolving and will always impact customer trust and loyalty. The speed of this change is faster than ever now. With emerging technologies, companies must prepare by identifying those trends now and capitalizing on them before it is too late.

The influence of technology can be a powerful catalyst to build customer trust and loyalty. Businesses that do not choose to move with emerging technologies will be left behind and may have to face business disruption.

Today, customers are becoming more tech-smart. To boost customer loyalty and trust, businesses must stay up-to-date with emerging technologies. Here is how you can boost customer trust:

1. Technologies can help you keep your lines of communication open, fostering relationships
2. Converse where and when you need
3. Create a high level of personalization to promote brand loyalty
4. Create an experience both online and in real-time

Read more: Customer Retail Software Solution: Everything you need to know!

Technologies That Help Drive Customer Loyalty Through Unique Experiences

There are many opportunities to engage your customers and build their trust and loyalty. But that is only possible if your business is equipped with the right tools to capitalize on it. Consider some:

1. Chatbots

The influence of technology offers companies solutions to meet higher expectations. AI-powered chatbots enable businesses to better communicate with their customers. It helps you to be there with relevant messaging and information whenever the customers choose to reach out.

This has a significant impact on customer trust. It is noted that customers are increasingly willing to buy a product through chatbots.

Additionally, chatbots provide detailed records of conversations with your customers. This provides you with data that can be analyzed to gain insights on customer pain points. This data can also be used to improve your products and services.

2. Voice capabilities

Voice capabilities can be relied on to engage customer loyalty and facilitate actions. These capabilities can serve as a useful tool to the customer as it leverages data to make customers’ task simpler and more seamless.

Voice-enabled technology enables your company to do all these more efficiently.  Besides, it appeals to busy customers as it indulges them in a quick shopping experience. This builds customer trust and loyalty and encourages repeat business.

3. Virtual and Augmented Reality

Virtual and Augmented Reality (AR and VR) technologies are game-changers in the way businesses communicate and interact with their customers. They enable customers to educate themselves and solve their issues better than ever before.

Additionally, these technologies will provide your sales reps better understanding of what the customer is going through. Thus, it increases their empathy and enables them to come up with better solutions for your customers’ issues.

Virtual and Augmented Reality are enabling the visual journey of the customer allowing them to search by looking at an object. This can open to new experiences. The resulting data can be used for innovative engagement in the future.

Read more: 7 Ways Augmented Reality will Transform Experiential Marketing!

4. Customer Relationship Management (CRM)

CRM (Customer Relationship Management) is a tool for tracking and managing a customers’ journey. It makes communication between marketing teams more efficient.

A CRM tool allows retailers to analyze huge amounts of customer information including the feelings that drive customer behavior. This enables your company to establish a deeper connection with your customers. Using this technology will help you craft more highly personalized messaging and new features to your services and products.

5. Virtual showrooms 

Many shoppers still prefer the in-store experience. Virtual reality allows customers to see a 3D rendering of a kitchen or other renovations. It also allows customers to pick and choose the items they would like in their virtual room.

This technology can also be useful in purchasing clothing from the comfort of their homes as it allows them to mix and match.

6. Artificial Intelligence

Artificial Intelligence (AI) can help your business stay a cut above the rest. It is a great tool to build customer loyalty and trust.

AI can provide you with needed information to understand the purchase behavior and interaction patterns of your customers. This information can be leveraged to design products that suit your customers.

Natural Language Processing (NLP), computer vision, and deep learning can be used to analyze a vast database of visuals and text. You can use this information to identify the main themes in colors, patterns, styles, and so on of your products. These findings can be implemented while designing future products.

Gear Up for Exciting Opportunities

Emerging technologies uncover exciting opportunities for businesses and are poised to increase economic growth by building customer loyalty and trust. Are you in on it? Give us a call and let’s get talking.

Software as a service (SaaS) is a fast-growing IT segment that commands the highest adoption rate among public cloud services, such as PaaS, IaaS, BPaaS, and others. In 2020, the worldwide end-user spending on Cloud Application Services (SaaS) accounted for USD 102,798, which shot up to a massive USD 122,633 at the end of 2021. Gartner examines that the adoption of scalable, on-demand cloud models enabled businesses to achieve cost efficiency and business continuity in a pandemic-afflicted economy. The rise in the adoption of public cloud services is giving an impetus for organizations to accelerate their digital transformation plans.

Understanding more about SaaS app development is significant because it:

• Helps optimize IT costs and conserve cash,
• Aids and secures remote work, and
• Ensures business resiliency.

Watch video: Advantages of moving your key workloads to cloud

SaaS solutions are inevitable in building and sustaining a collaborative, agile, mobile, and hybrid work environment. This post sums up the nitty-gritty you need to know about SaaS application development.

What is SaaS application development?

Ever since the launch of the internet, Application Service Providers (ASPs) that deliver software to users over the internet on a subscription basis have been popular. ASPs allowed users to subscribe to the applications and associated functionalities by following a usage-based transaction pricing model. While it was a major breakthrough, ASPs weren’t fully successful in reducing IT costs and simplifying deployments and upgrades. Thanks to cloud computing; the rise of SaaS applications has lowered the development time, cost, and effort for enterprises. Businesses of all sizes are now expanding their investments in SaaS development.

Software as a service (SaaS) is a software licensing and distribution model in which the application is centrally hosted on the cloud and is maintained and updated by the SaaS developer. Along with Infrastructure as a service (IaaS) and Platform as a service (PaaS), SaaS is one of the key cloud computing models that’s widely marketed to both business (B2B) and individual (B2C) users. Netflix, Office 365 suite, Google Workspace, Cisco WebEx, etc. are the common SaaS products that we use every day.

Read more: Top business drivers that power legacy cloud migration

Why are businesses investing in SaaS app development?

SaaS was an extremely profitable business segment in 2020. According to a 2018-2023 forecast, companies running on SaaS will rise from 51% to 86% in a span of five years. SaaS-based solutions have enabled several business sectors, including virtual collaboration, e-commerce, FinTech, supply chain automation, and healthcare to thrive despite the large-scale disruptions inflicted by the global pandemic. Here are a few factors that make SaaS a hot choice in the investor’s market.

1. Manage costs

SaaS applications require minimal upfront investments. The Pay-as-you-go model allows you to start with a small capital and expand later when you anticipate better business growth and profitability. SaaS application deployment takes less time and money when compared to a traditional on-premise system setup. Most SaaS providers offer dedicated application maintenance and support which saves you from hiring and managing expensive in-house IT teams.

2. Reduce IT dependencies

Your SaaS application development services provider will take care of hardware maintenance, system failures, and downtimes, software updates, routine maintenance, and backups, etc. Based on your business requirements and the services subscribed to, the SaaS provider will help you customize the application, upgrade the software to its latest version, and offer training to your staff. This helps you focus on the core business activities.

3. Seamless integration with other systems

SaaS-based applications can be integrated easily with your legacy systems or any other third-party software that you use. By developing custom APIs and plugins, SaaS providers like Fingent will help integrate your CRM with ERP or HRM with Payroll software. The SaaS application can work as an extension of your current software, adding value to your daily operations. Cloud infrastructure and on-demand computing model empower you to scale up and meet the surging demands.

4. Mitigate security risks

SaaS software providers are responsible for securing the application, operating system, platform, network, and physical infrastructure. Along with these security options, the SaaS provider will help secure your customer data and user access by applying a few techniques such as Identity and Access Management (IAM), cloud data encryption, Data Loss Prevention Software (DLP), compliance solutions, real-time threat intelligence, behavioral analytics, Cloud Access Security Broker (CASB) solutions, etc.

Read more: Why is cloud security important? What are the best practices to ensure cloud security? 

Points to consider before starting your SaaS app development project 

There are a few technical and business factors to consider while developing a SaaS product.

Technical considerations in SaaS development

• Database design: Choose a flexible and secure database(s) based on the data type, scalability, anticipated load, budget, programming languages used, read-to-write actions involved, and other specific business purposes.
• Technology stack: Right technology stack helps build the right SaaS product. By partnering with a SaaS provider like Fingent, you can leverage the latest and the best tech stack to incorporate all the required features into your SaaS application.
• Third-party services integration: Businesses that use SaaS products may want to integrate their applications with third-party services such as payment providers, chat and email service providers, customer-answering bots, etc. Ensure that the chosen third-party services are budget-friendly, scalable with your growth plans, credible, and offer excellent community support.
• Regular patches and updates: Your SaaS application should be up-to-date and scalable to match your clients’ growing demands. Software updates must be scheduled, and new functionalities and changes to existing features (feature enhancements) should be tested thoroughly.

Non-technical considerations in SaaS development

• Conduct market research: Prior to starting your SaaS project, it’s important to analyze the market, understand what users are looking for, study competitors, and then visualize your SaaS solution. The market analysis leads to better project planning with realistic goals in mind.
• Make the software user-friendly: The end-user of your SaaS product is not necessarily a techie. The software should appeal to the audience for which it’s built. Market it to the right audience by applying a fair pricing and subscription policy. Devise marketing strategies to improve client adoption.
• Ensure software compliance: Security risk is a major barrier to SaaS adoption. Before publishing your SaaS software, ensure that it has robust data protection and sharing policies, user access policies, regular software maintenance, and 100% compliance with standards such as GDPR, HIPAA, etc.
• SaaS pricing model: SaaS software market offers a variety of pricing models such as usage-based pricing, per-feature pricing, flat-rate pricing, tiered pricing, and so on. Determining the right pricing model depends on factors such as how much your customers are willing to pay, how far your product is capable of solving their problems, and how your competitors are charging for a similar suite of products. Ensure that the pricing model doesn’t stagnate your product.

SaaS app development best practices

Here are a few best practices to ensure the performance, productivity, and acceptance of your SaaS application.

1. Focus on MVP creation as the first step

Many SaaS developers use MVP (Minimum Viable Product) as the initial step for building a successful SaaS application. An MVP is a fully functional and quickly developed miniature version of an application built to test the SaaS product’s viability. Developing an MVP will help you understand the feasibility of your business idea and the changes to be accommodated based on user feedback. It helps reduce your development cost and effort.

2. Multi-tenancy architecture

A SaaS application isn’t made for a single user. It should be flexible enough to serve thousands or even millions of customers. Multi-tenancy is crucial in cloud computing as it allows multiple tenants (users) with different roles and access privileges to be hosted in the same environment. Each user will have a separate and secured space within the server to store their data. Multi-tenant architecture improves your ROI and helps update and maintain your SaaS application.

3. Personalize your SaaS product

As remote and hybrid workspaces go mainstream, and BYOD becomes common, users seek personalized SaaS products that don’t require extensive admin support. Users demand high-level personalization with your SaaS app. For example, changing the UI’s appearance, integration of Single Sign On (SSO) feature, configuring the dashboard to track the metrics quickly, and so on. They may want the SaaS app to be available in both web and mobile and any other portable devices that they use. Make your SaaS app safe and compatible to address such personalization requirements.

4. Prioritize and optimize features

Adding too many features as well as avoiding important features are equally wrong. Consider the reach and impact of a feature addition, such as how many users will be affected or how many customers are looking for the new feature. Track the SaaS app’s usage patterns by leveraging analytics or run a survey to understand user preferences. If more than 50% of them like an existing feature, optimize it. If only 5% of your users are interested in a new feature, eschew it.

Read more: A comprehensive guide to modern cloud application development

How Fingent helps develop exceptional SaaS applications within your budget 

With Fingent, you are just a few steps away from building and managing your own SaaS application development team. Right from developing an MVP to actual product launch and post-launch support, our team handholds customers through every stage of development.

InfinCE, the world’s first digital workplace orchestration platform, stands as a testament to our SaaS development capabilities. So are ReachOut Suite FSM and Skill Lake LMS. Our goal is to help businesses solve challenges through technology. We help legacy companies migrate their software solutions to the cloud as well as develop cutting-edge SaaS solutions that empower them to thrive in the new normal.

Read more: What makes Fingent your best technology partner 

If you have an idea or a requirement, discuss it with us asap. We will set up a discovery call with you and get back with a ballpark estimate. This is followed by a detailed proposal, including mockups, demo videos, and visualizations. Our communication method is simple enough to answer your queries related to software app development. We do business with organizations of all sizes – small and large – to help them transform lives through technology. Ready to watch us in action? Talk to our SaaS expert now.

• Introduction
• A Brief History Of Metaverse
• A Simple Definition Of Metaverse
• Metaverse And The Future Of Work
• Metaverse Applications In Our Work World
• Potential Concerns Around Metaverse
• Metaverse: What Lies Ahead?

Across the globe, the real estate industry took a hard hit during the COVID-19 pandemic, which left millions jobless. The huge migration of construction workers affected thousands of construction projects. The once-booming realty market experienced a shattering impact.

Not for long! The resilience of the industry paid off. Here is a look at how the real estate industry met the challenges head-on and what is in store for coming years.

Meeting the Challenge Head-On

The arrival of the Coronavirus vaccine geared up the real estate segment for yet another phase in early 2021. It realigned itself with buyers’ new expectations. Though the real estate sector has not remained immune to recalibration, it has shown remarkable resilience in the face of the pandemic.

Early 2021 saw a growing thrust toward digital transformation and technology adoption, beginning a new era in this sector. There has been a significant rise in virtual property events, cloud-based services, digital launches, and much more.

The real estate market is always in flux. It is highly localized with different conditions in different cities, states, and metro areas. Understanding the fundamentals of this segment can help you stay on top of all these changes and challenges that come with the economic downturn. As we gear up for a new year ahead, let’s begin by understanding what factors change the real estate market.

Read more:How Technology Can Solve The Challenges Of The Real Estate

Factors That Will Impact The Real Estate Market

Though it may be tough to estimate the exact sales volume and value growth, there seem to be enough catalysts to give rise to optimism.

• Real estate prices: Real estate prices are influenced by local buyer demand and the amount of housing supply that is available for buying. Lower rates attract more buyers and vice versa.

• Shifting property needs: The pandemic forced people to spend more time indoors. Hence, there has been a shift in property needs.

• Consumer house-buying power: Affordability is affected by incomes, inflation, and interest rates. When incomes increase, homebuyers might be able to afford higher-priced homes than they could have previously afforded.

• Mortgage rates: Interest rates impact demand, home prices, and affordability. It also fluctuates on factors such as Federal Reserve policy, bond market, inflation, and so on.

• Housing inventory: When housing supply is low, demand is high. This increases sellers’ market. If the supply is high, on the other hand, there will be more buyers to purchase them. This will slow down price growth and the real estate market will remain less competitive.

• Cycles and crashes: Along with the overall economy, the real estate market tends to be cyclical. There will be booms and busts. Fortunately, homeowners today are more financially equipped to handle the loans they have taken.

A Peek Into The Future Of The Real Estate

Among all the sectors, the real estate segment is showing tremendous growth. Here is what we can expect in future:

1. Effect of work-from-home on real estate

As the pandemic grinds on, tenant preferences will drive changes in real estate. Many homeowners will gravitate to newer buildings with better ventilation systems and modern amenities like touchless systems.

2. The rise of PropTech and digital transformation

The no-touch scenario has catapulted the innovations of PropTech to center stage. A 3D self-guided tour of the home can be a unique experience. Some real estate firms have put their entire leasing and renewal processes online.

3. Last-mile funding by the government

Governments help for delayed construction projects, along with incentives and attractive payment schemes are attracting homeowners. A fall in interest rates has been an additional incentive. So, developers will continue to witness a surge in inquiries across key real estate segments.

Technologies To Invest In To Remain Resilient 

Property technology is booming and changing the way we look at property investments. This digital landscape is allowing both the buyers and investors to view multiple properties without ever having to move out of the comfort of their homes. Here are some examples:

1. Rise of Artificial Intelligence

Artificial Intelligence can accelerate the decision-making process as it aids in asset identification and selection. AI algorithms constantly test the feasibility and effect of different parameters. AI can also help predict any safety hazards or construction defects. This can save a large amount of time and money.

AI’s predictive analytic algorithms can find variations in the demographic pattern of the micro-market. Among many others, it can also detect the income distribution of individuals in the vicinity. This aids in identifying the true intrinsic value of the property.

2. Cloud-based technology 

Cloud-based technology assists in the storage of large data. Information regarding properties can be stored and retrieved by stakeholders to answer any customer queries. This lowers manual work and saves time spent in looking for papers.

Read more: A Comprehensive Guide To Modern Cloud Application Development

3. Virtual tour

The spread of Coronavirus restricted movement making it difficult to visit a property in person. However, virtual visits can now be arranged to help buyers make an informed decision by using virtual reality technology.

This allows stakeholders to set up a virtual meeting with the buyer and answer all their questions related to the property. Thus, instead of depending on imagination buyers can now ‘see’ for themselves.

4. Robotic process automation

Robotic process automation (RPA) can be used to automate regular clerical jobs at the site. These jobs may include regulating contracts and approvals between multiple vendors.

RPA enhances the likelihood of more deals being closed. It is more dependable as it significantly reduces human error.

5. Mobile apps 

Rental and purchasing mobile platforms have gained popularity in recent times. The real estate industry constantly faces high-level competition. Hence, it demands a digital solution that can aid agents in their work and allow buyers to discover what they are looking for.

These digital solutions can include mobile applications for both agents and buyers. Developing a mobile app can distinguish you from the competition. They increase your chance of being found by your customer before your competition.

Mobile apps are more engaging and can provide a more rewarding customer experience. Customized solutions in the mobile app enable your agents to quicken the sales process.

Proptech Expertise Of Fingent Can Enable Your Business To Remain Resilient

Fingent is well-versed with the complexities that come with the development and implementation of real estate technologies. We are here to understand your idea and turn it into reality. With our expertise, we can create products that are driven by AI, Video conferencing, and more.

Take a look at: How Fingent created an all-in-one property management solution for Rentmoji, a leading Real Estate management firm in the US.

Our dedicated team can offer a wide variety of real estate software services. We strictly adhere to local data privacy and protection policies. We ensure to keep up-to-date with legislation so that apps remain secure and ready to use anytime, anywhere.

Case Study: With our experience in providing Proptech solutions, we were able to create a customized web-based application for UBRealty Inc.

Fingent top custom software development company ensures that you are market-ready, armed with competitive technologies. Our experts can help you discover the PropTech potential in your real estate business. We have hands-on expertise and skills in the industry. We can collaborate with you and tailor software to your specific needs.

Fingent is equipped to create the most sophisticated and stable applications that meet your requirements. By partnering with us will enable you to use real estate software that is a perfect fit for your business values and expand your market scope. Drop us a line and let’s discuss your needs.

The pandemic is now the biggest and most critical challenge of traditional banking. Some of these challenges are revenue pressure, data security, customer service management, data collection and analysis, risk management, and so on. These are the warning lights and alarm bells that call for caution over emerging risks. AI (Artificial Intelligence) has gained recognition as an effective solution.

AI is empowering the banking industry to provide individualized frictionless customer experiences. It is driving customer loyalty and profitability by automating banking processes.

In this article, we will discuss how AI can resolve banking challenges. We will also discuss some of the common challenges banks might encounter in implementing AI and how a tech partner can help deploy AI better.

How AI Can Resolve Banking Challenges?

AI is the new electricity – Andrew Ng.

Modern technology such as AI can be tailored to the specific needs of the banking sector. The digital age is opening up new opportunities. According to a Business Insider research report, banks are expected to save an estimated $447 billion by 2023 with the help of AI applications. Given that, here is how AI can resolve some challenges.

Read more: Digital Transformation in Financial Services: All You Need to Know

1. AI-enabled conversational interfaces

Chatbots are one of the most popular cases of applying AI in banking. Bots are programmed to communicate with thousands of customers with minimum expense. Insider Intelligence estimates that the adoption of chatbots could save the banking sector $11 billion annually by 2023.

Mobile banking has become the most popular and chatbot services attract users’ attention and create a unique brand identity. AI functionality in mobile apps is helping banks generate more revenue than when customers visit their branches. Banking organizations that leverage AI improve their quality of services and remain competitive despite the crisis.

2. AI-enabled data collection and analysis 

Banks generate an enormous amount of data every day. Collecting and recording this data is an overwhelming task for employees. Besides, all this work may be a wasted effort if there is no proper plan to use this data. Hence banks need to determine the relationship between the collected data. That is another major challenge.

AI-based apps improve the user experience by collecting and analyzing data. The collected data then can be used to grant loans or fraud detection.

3. AI-enabled Risk management

Providing loans is a challenging task for bankers. Extension of credit to a fraudster can get the bank into difficulties. Or a borrowers’ economic downturn can adversely affect the bank. 2020 statistics show that credit card delinquencies in the US alone rose by 1.4% in a duration of six months.

AI-enabled systems can appraise a customer’s credit history more accurately. Additionally, AI-powered mobile banking apps track financial transactions and analyze user data to help banks anticipate the risks associated with the extension of credit.

4. AI-powered data security

Credit card fraud is on the rise. It is the most common type of personal data theft. AI-powered systems can analyze customer behavior, location, and financial habits. So, if it detects any unusual activity, it triggers a security mechanism immediately.

Read more: Artificial Intelligence and Machine Learning: The Cyber Security Heroes Of FinTech

When all these challenges are successfully tackled, how does the AI-powered bank look like? Read on to find out.

How Does The AI-First Bank Look Like?

AI-bank rises to meet customers’ expectations and remain competitive. The AI-powered bank will offer intelligent and personalized propositions and experiences as it understands customers’ past behavior. It can span across multiple devices providing a consistent experience to its customers.

What Are The Common Challenges Banks Might Face In Implementing AI?

Implementing AI technology in banking is not always easy.  You need to ensure you have the right team and expertise. You will also need access to data, resources to invest in the project, and parties that are willing to adopt the new technology.

• Access to data: It is one of the biggest challenges to implementing AI. Additionally, banks might face challenges with training data. It becomes hard to update or improve the AI models if the team does not have the necessary information to use and learn from.

• Localization: Localization is critical to the banking sector as they often need to design models with multiple markets that they serve. Localization can help you properly customize the customer experience. Your data partner can support you with localization as they have skilled linguists to develop aspects such as style guides and voice persona.

• Security and compliance: It is quite challenging to keep all the data confidential and secure. The right data partner can offer a variety of security options. They have security standards to ensure your customers’ data is securely handled.  Look for data partners who have strong data protection with certifications and regulations. They will be able to provide secure annotation. They will also provide onsite service options, private cloud deployment, on-premise deployment, and so on.

• Trust, transparency, and explainability: AI models can only be successful if they can be understood and trusted by customers as they will want to be sure that their personal information is handled and stored securely. Talk to your partner and ask them to explain the model to you. Or you can always go back to the training data that was used to develop the model and extract some explainability.

• Data pipelines: Connecting data pipeline components to use siloed data is not as easy as it seems. To do this effectively, banking institutions must ensure their data is collected and structured correctly. They must also ensure that this information enables ML models to predict according to the business goals. Look for a partner with extensive security offering as their expertise will enable your banking service company to be successful and scale.

Read more: The New Untapped Opportunities for FinTech Companies in the Coming Years

How A Tech Partner Like Fingent Help Deploy AI Better?

Implementing AI into banking is a serious responsibility. It takes in-depth knowledge, an enormous amount of time, and dedication to accuracy. That is what Fingent has. We do not just follow the trends. Instead, we focus on how AI can add value to your particular banking needs.

Fingent top custom software development company can bring transparency and explainability of AI automated decision making to your banking processes. We can provide an easy-to-use interface through APIs delivered either on-premise, in the cloud, or as a SaaS offering.

By embedding AI and ML into our products, we can accelerate the release of explainable business models that will underpin new AI use cases. These can help create a seamless customer journey and automate manual processes with self-learning capabilities. We are confident that we can help you deploy AI better. Give us a call and let’s get talking.

The global growth outlook remains uncertain. Companies are forced to operate in an environment characterized by unprecedented technological change and evolving consumer demand. The situation demands decisive action! Companies MUST look for new ways to grow and add value if they are to survive. The obvious solution is old business models must evolve and drive innovation. This is the only way businesses can respond to unexpected risks and opportunities. Sustainability plays a vital role here.

Sustainability can reduce the environmental footprint and deliver significant cost savings through cost avoidance. It can offer new growth opportunities and can build brand equity by creating emotional connections and making consumers feel good about embracing sustainable brands. Let’s get right into it and discuss more how you can drive innovation and business success through sustainability.

Let us first understand what innovation really is.

What is Innovation?

According to Merriam-Webster, innovation is “the introduction of something new.” This includes products and services. However, it also includes improvements in business processes or business models.

But sustainable innovation goes a step further. It is boosted and driven by concern for resources and the environment. It involves using concepts and products that were developed as a result of environmentally-aware designs and practices.

Businesses that have integrated sustainability into their innovation processes have framed their discussions around growth and returns. This helped businesses add measurable value for all stakeholders. Proper planning can help industries develop insights for the future. Such planning can guide their sustainability strategy as they develop sustainable innovation goals.

Read more: Prepare for the Future of Digital Innovation with these 10 Services From Fingent

Why Choose Sustainability-Driven Innovation?

Sustainable innovation results in better business models, newer market segments, improved processes, and so on. It caters to consumer demand for greater sustainability.

As a result, businesses can achieve greater economic performance. On the other hand, it also results in a cleaner, healthier, and more stable world – one that propels economic growth! Here are three core reasons why you must choose sustainable innovation over traditional innovation.

1. Contributes to sustainable businesses

Sustainable innovation meets the needs of the current generation without compromising the needs of the future generation. Businesses must actively incorporate issues such as climate change into their innovation processes.

Companies that go beyond seeking immediate profits think long-term. Such companies invest in technologies and people for the future. Compared to their non-sustainable competitors, companies that rely on sustainable innovation bring in better people with personal ethics and thus contribute to sustainable business.

2. Better innovation and more innovation

Sustainability-oriented businesses produce more patents and more impactful patents. These companies think more broadly and learn from different perspectives welcoming insights and solutions from others. This leads to better innovation and more innovation.

3. More resilient

During these turbulent times, it is critical for businesses to remain resilient. Firms that are sustainability-oriented are more likely to experience less share price volatility. They tend to generate more revenues in the long run and thus survive through any crises compared to their competitors.

Read more: Custom Software Solutions: Ideal Way to Build Business Apps

How To Develop A Sustainability Strategy

Sustainability can be a game-changer. It can drive innovation that shapes how key resources are used in products and services. Focusing on reducing waste or finding substitutes can be a powerful driver for sustainable innovative products and operating models.

Companies that combine environmental, societal, and financial priorities to re-imagine their core business models and stay ahead of the competition. A structured innovative strategy reinforces business advantage and the environmental and societal benefits. Here is a four-step strategy that can drive innovation and business success.

Step 1: Endeavor to understand the broader stakeholder ecosystem

Environmental and societal issues and trends might affect the stakeholder ecosystem.  So, explore the potential impacts of ecosystem dynamics. This will help you identify a range of business vulnerabilities and opportunities. These can be excellent starting points to develop a sustainable strategy.

Next, explore scaling up the business. Consider where breaking points arise and how risks and opportunities change.

Step 2: Innovate and develop new aspects

Once you identify opportunity spaces, you can now innovate and develop new aspects.

• Change the production inputs
• Create impact by influencing the product usage cycle from cradle to grave
• Increase the environmental and societal value of your products and services
• Expand the value chain
• Shorten and reconfigure the global value chain to enable accurate and secure data tracking
• Encode, endorse, and monetize the full environmental and societal value of products and services

Step 3: Test, iterate and refine

A business with weak profit margins cannot invest in sustainable innovation to amplify environmental and societal benefits. Continue to assess and re-engineer your business model to improve resilience.

Step 4: Scale the initiative by engaging people in the company and its ecosystems to expand impact and advantage

This can be achieved by leveraging three enablers:

• Partnership with other organizations within or across the sectors
• Digital technology can be leveraged to reach previously unserved or underserved populations
• Develop cultures and leadership values that attract and engage people inside and outside your boundaries
• Keep in mind the future landscape

This four-step sustainability strategy offers companies a way to systematically integrate the social and business value in your business. This strategy will help you take on innovation for both business and social value.

View infographic: What are the advantages of custom software over commercial off-the-shelf solutions?

3 Ps

It is a mistake to look at sustainable innovation as a short-term endeavor. Industry leaders must help their organization develop an effective and reliable strategy for sustainable innovation. The three Ps you will need to know to enable this are as follows:

• Purpose: Have a purpose that goes beyond profit maximization. Such a purpose will guide the sustainable innovation process to success. Industry leaders must weave sustainability into the organization’s DNA. This is only possible when they encourage and nurture out-of-the-box thinking where sustainability becomes an integral part of the business.
• Process: A successful innovation planning process must include specific sustainability requirements and performance targets. Sustainable innovation must be central to the innovation cycle, not just an additional step. Make sure you integrate sustainability into innovation planning.
• Partnership: Build strong external networks. This will bring in fresh innovative ideas. Working collaboratively with your partners can help accelerate existing projects or even kick-start fresh ones.

It is clear that innovation through sustainability is a megatrend that is here to stay! Where do you start? How can technology help you? Give us a call and let’s get talking about all the questions you have.

As digitalization is gaining a lot of significance, many enterprises are turning to emerging technologies such as Robotic Process Automation(RPA) to streamline their operations and reduce costs. RPA automates mundane processes allowing organizations to devote more time to serving customers or other important work.

According to Gartner, Inc. , Global RPA software is projected to reach $1.89 billion in 2021, an increase of 19.5% from 2020. Despite the COVID-19 pandemic, the RPA market is estimated to grow two times by 2024.

Read more: How to accelerate your business growth with Robotic Process Automation

What is RPA?

In simple terms, RPA is an application in which a software bot leverages a combination of automation, computer vision, and machine learning technologies to automate repetitive and high-volume tasks.

RPA solutions are best suited for processes that are labor-intensive, repetitive, and have predictable interactions with IT applications. Typically, these processes may be too small in value to be automated via IT transformation. RPA tools help improve the efficiency and effectiveness of such processes without changing the existing infrastructure.

RPA software bots can perform various business processes by mimicking how humans interact with applications through a user interface and simple rules to make decisions. As a result, robots can complete the entire end-to-end process with very little human interaction.

Benefits of RPA include;

• Improved accuracy
• Flexibility and scalability
• Speeds up the processing time
• Better employee morale
• Reduces manual and repetitive tasks
• Enables better customer care
• As per Forrester, projects see a 15-month payback, 229% ROI on average

Key business challenges RPA helps address are;

• Login automatically into a system as a user
• Helps navigate around the software, using menus and shortcut keys just like a human moving the mouse or typing on the keyboard
• Interpret labels to read values from the screen. If the screen content or web page is dynamic, RPA can help find the right value on the screen.
• Read values and data from PDF reports automatically and add them to data tables.
• Inputs values into a capture screen automatically by mimicking the user’s actions. However, it can process it several times over with different values for each pass.
• Read emails and messages to understand the information they contain. For example, is the sender placing an order, making a booking, looking for information, or sending an invoice? Based on the intent, RPA will trigger the process with the message.
• Help trigger a process in a system by logging in as a user and clicking buttons.
• Collate different pieces of information and identify the next best action in the process.

Read more: How Can Businesses Overcome The Barriers To RPA Adoption?

Who is using RPA?

RPA can be leveraged by any business, especially if it involves repetitive tasks such as banking, healthcare, finance, insurance, and telecommunications. For example, RPA can be used in finance to automate governance, reconcile accounts, or process invoices. Additionally, RPA can help automate processes such as data entry, predictive maintenance, and after-sales service support in the supply chain.

Telecommunication companies utilize RPA solutions to organize new services and all the related billing systems for new accounts. RPA also helps these companies pull data from multiple systems when old equipment outages or predicts problems.

Regardless of the industry, RPA benefits the larger organizations and small and mid-size companies with its ability to streamline business processes and improve efficiency.

Should you invest in RPA?

The pandemic has caused a sudden surge in RPA as businesses are turning to cost-effective solutions to fill the workforce gap due to a shortage of employees. But again, if there is a lack of data or the process is obsolete, opting for RPA may not be a wise decision.

With the RPA market evolving, it is becoming affordable for even small and mid-size businesses who want to stay ahead of their competitors. According to the Grand View Research report, in 2019, the large enterprise segment accounted for over 67% of the global RPA while the BFSI led the market in terms of application with over 29% share of the global revenue. However, from 2020-2027, it is estimated that SMEs will witness the highest CAGR, with the pharma and healthcare sectors leading the way application-wise.

While RPA can fill the gaps in the current system and benefit the organization as a whole, companies that have large volumes of data and time-consuming business processes with well-defined rule-based steps are ideal candidates for RPA implementation.

Once the decision-makers finalize the processes that need automation, assessing ROI for individual processes is essential to quantify the benefits. A successful deployment takes one-two month, and the ROI is approximately three-twelve months.

Read more: An Extensive Whitepaper on How RPA Can Bring a Difference to Your Business

Things to consider before implementing RPA

1. Third-party integration

You will have to redesign the existing Robotic Process Automation processes and ensure they are compliant with third-party tools. It improves the scope of what RPA can achieve for a business process. For example, ERP and CRM integration is something that you must consider.

2. Cost-effective

For RPA to become a cost-effective solution, an organization needs to know which tasks are suitable for automation. Ideally, mundane and repetitive labor-intensive tasks need to be automated to impact a direct bearing on the costs of the RPA deployed. As bots work more efficiently than humans, it results in better productivity, fewer errors, and cost less. All this impacts productivity in a significant way making RPA a worthy investment.

3. Training time

For a smooth roll-out of implementing the RPA system, organizations will have to set aside time to train their employees. Therefore, you will have to be certain about the time required, especially if you plan to implement RPA across functions.

4. Deployment speed

Typically, the speed at which an organization deploys an RPA software depends on how soon it wants to reap its benefits. While some businesses cannot wait to take advantage of the RPA system, others are skeptical about their roll-out plans. In most cases, businesses that wish to implement an RPA system adapt to save costs as quickly as possible.

How can Fingent help?

If you’re looking to improve profitability, productivity, and compliance with Robotic Process Automation, contact our experts today. Our custom software development experts will not just help you strategize an automation process but also get the most out of your investment by identifying the best time to introduce RPA into your business.

The impact of the pandemic on consumers across the globe has dramatically changed their demands, needs, and behavior. Many of these changes have critical implications for businesses in most sectors. To succeed in the next normal, businesses must respond proactively.

COVID-19 jolted consumer demand in a way that sets it apart from past disruptions. As a result, customer loyalty took a hard hit. Executing the four Ps of marketing (optimization of product, price, place, and promotion) became more complex than ever. Businesses must redouble and broaden their efforts toward meeting ever-changing customer demands and behavior.

As with everything else, it is important for an organization to know and understand its customers. If your company is at crossroads with today’s Ecommerce customers’ needs, this article will help you understand how technology can help satisfy these uprising demands quickly and effectively. So then, let’s first understand how customer behavior, needs, and demands change.

Read more: What are 3D Web Configurators? How do they Boost Ecommerce Sales and Drive Customer Satisfaction?

Ecommerce Customers’ Behavior, Demands, and Needs

Customers are like the moving targets. The key to success is to understand their behavior trends and use technology to help satisfy these uprising needs and demands. Linnworks research pointed to five such trends:

• Convenience is the need of the hour: 76% of consumers feel that convenience is the top priority in choosing a retailer. 90% of shoppers focus on using a trouble-free online store.

• The frictionless shopping experience is most valued: It was noted that 58% of consumers abandoned an online store altogether because they were difficult to use.

• Omnichannel shopping is gaining traction: One in three consumers has purchased an item while on social media. 71% of consumers prefer to complete a purchase on a social site without having to exit to the retailer’s site.

• Consumers demand flexible payment options: Four in five shoppers expect the “buy now, pay later” payment option.

• Delivery convenience: 95% of consumers say that fast and reliable delivery methods play a crucial role in their decision-making.

How Can Technology Help Satisfy these Uprising Needs and Demands of Today’s Consumers?

1. Allow your consumers to experience products before they buy

The biggest roadblock facing Ecommerce businesses has been the inability of consumers to experience products before they buy. Everyone likes to try on clothes they like to buy or see how is their new couch looks in their living room.

This is where AR (Augmented Reality) can help your business. AR can help your consumers try on clothes or closely inspect the components of a mobile device. AR market is expected to reach 2.54 billion by 2023.  Online retailers who fail to take full advantage of this technology may likely experience business disruption.

2. Bring your product to life with virtual shopping

Virtual reality shopping can bring your products to life. It helps your customers to have an in-store-like experience, without actually being there. VR technology allows you to tag products so your customers can purchase on the spot. It can instantly connect buyers with customer service executives.

VR can make product recommendations based on customer metrics. It can also cater to both desktop and mobile users. Thus, it provides a better customer experience attracting more customers to your online store.

3. Be omnichannel ready

Todays’ Ecommerce customers like to cross-channel research and purchase. So, they expect smooth interactions across these channels and devices. Technology can help you to provide your customers with what they want, when they want it, and where they want it to. Some of these technologies include video chat, screen sharing, document interaction, e-signature, and more.

Co-browsing is an effective visual engagement system. It can bring your sales executives and customers together on the same page, at the same time. This allows your executive to guide your customers through the complex procedures making their customer journey as smooth as it can be.

Read more: Custom Retail Software Solutions: Everything You Need to Know!

4. Enhance customer communication with chatbots and AI

Artificial Intelligence has a major impact on how we live and work. Voice shopping is expected to jump to $40 billion by 2022, rising from $2 billion today. And 45% of millennials have already been shopping using voice assistants.

Chatbots and AI improve customer experience and boost brand image. These chatbots can be personalized to order food, get recommendations for almost anything, receive details regarding payment or order status, and more.

5. Hassle-free checkout process

Inefficient checkout processes can raise the chances of cart abandonment. However, this problem can be avoided by embracing technology that provides quick and efficient checkout solutions.

Technology enables speedy mobile payment solutions, allows your customers to save card details for repeat purchases. Above all, it proves one-page hassle-free checkouts and offers a range of payment options. All these can alleviate any potential difficulties your customers may face at checkout.

6. Enable m-commerce to enhance Ecommerce

Today many shoppers shop on the go. Hence, mobile platforms have gained greater importance. So much so that m-commerce is emerging as a concept. Given that, providing a mobile-oriented shopping experience will certainly help you win potential customers, maximizing your chances of future success.

Ecommerce mobile apps offer continuous engagement with your brand. It can help them familiarize with new and relevant purchasing opportunities. These apps also allow you to market products relevant to the specific geographical location of your customers.

Read more: 5 Reasons to Integrate Your E-commerce Application with Odoo ERP

How Can Fingent Help Deploy These Evolving Technologies For Ecommerce Businesses?

It is one thing to understand your consumer behavior but another thing entirely to implement technology to satisfy their demands and needs. Fingent is here to help you implement these technologies efficiently. We can help you move the needle and dominate your niche in the Ecommerce industry.

Fingent can help you implement those that make sense and put the rest on the back burner. We can aid in the success of your Ecommerce venture by implementing cutting-edge technologies. Our development experts will help you promote your products in new and innovative ways.

Choosing Fingent as a software development company helps you save time and money and avoid unnecessary complexity, as we can provide all the needed components. Our platforms are easy to manage yet robust enough to house thousands of products. We can handle unique order processes and payment terms for your Ecommerce sales. Let’s get talking.

Low code/No code is becoming a fierce upcoming contender in today’s digital landscape. For one, its unique capabilities enable collaboration between business stakeholders and IT teams. And it allows for an unprecedented speed of innovation.

Before the pandemic, companies looked to a Low code/No code platform for its unique benefits. Today though, the COVID-19 pandemic has amplified the importance of low code in remote development.

This article will explain what is Low code/No code development with SAP BTP, and will also discuss how it is changing the future of enterprise resilience.

Read more: Rise with SAP – How Fingent Can Help Explore Business Transformation as a Service (BTaaS)

What is Low Code/No Code Development with SAP BTP

Studies confirm the that market landscape for  Low code/No code development technologies will remain on a strong trajectory into the future. We can be confident that more organizations will turn to low code platforms to support innovation and digital transformation.

Low code/No code is a software development approach. It enables the delivery of applications faster with little or no coding. Low code/No code platforms are a collection of tools. They enable the visual development of applications via modeling and graphical interface instead of extensive coding languages.

The term “Low code/No code” is a modern alternative for RAD tools (Rapid Application Development). Today, Low code/No code is especially advantageous for enterprises that are looking for ways to streamline all organizational operations such as procurement, production scheduling, customer data, and order processing without the complication of hand-coding.

These tools empower developers to speed up the process of getting an application to production. All without hand coding! These platforms are a fast and easy alternative to traditional software development. Both professional and non-professional developers (citizen developers) can use Low code/No code platforms to develop apps of varying complexities.

Low code/No code development with SAP BTP (Business Technology Platform) empowers non-IT professionals to develop and launch apps with little or no input from IT. This reduces the IT talent gap. It enables transformation in the development and expansion of organizational capabilities.

Low code/No code platforms are built on Platform-as-a-Service cloud environments. This means it employs visual programming interfaces to solve business problems faster. The best part of it is that it does not require deep technical knowledge as it has a simple drag and drop interface.

However, Low code/No code is not just about the user interface. SAP considered this fact while shaping a part of the SAP BTP strategy. Developers and business experts are no longer limited as they are now empowered with integrated Low code/No code automation tools such as SAP Intelligent Robotic Process Automation SAP Business Application studio and more. These tools enable developers to build Intelligent Enterprises.

Read more: A Complete Guide On Software Product Development Stages And Life Cycle

How Low Code/No Code Is Turning The Future Of Enterprise Resilience

The COVID-19 pandemic has propelled the adoption of digital technologies. The goal of these technologies is to allocate human resources wisely to empower the end-user. Low code/No code is faster and more efficient. It frees up professional developers’ or citizen developers’ time for more complex activities.

Most importantly, Low code/No code builds systemic resiliency and responsiveness into the daily functioning of an enterprise. As enterprises aim to become more future-proof, they see Low code/No code as an immediate and effective opportunity.

According to Gartner’s prediction, by the end of 2025, half of all new Low code clients will come from business buyers that are outside IT organizations. Commenting on pricing, Mr. Biscotti said, “Low code capabilities that support remote work function, such as digital forms and workflow automation, will be offered with more elastic pricing since they will be required to keep the lights running.” Given the benefits and the affordability, the Low code/No code market will see commensurate growth.

How does SAP’s Low code development become the future of enterprise resilience? Please consider the following:

1. SAP offers the necessary sophistication to address complex business processes

SAP users often manage processes that involve a large number of applications linked to a single business process. Plus, a business may need an app that can handle complex tasks such as creating work orders offline for field crews. Low code/No code with SAP gives developers the ability to extend their functionality and solve any business problems.

2. Helps in streamlining work and allow employees to work more efficiently

Low code/No code development with SAP is much easier. Hence, it allows developers to manage repetitive tasks and focus on complex activities. Also, it enables them to focus on best practices across their organization to optimize processes and innovate. Thus, it streamlines work, allowing employees to work more efficiently regardless of their location.

3. SAP Low code reduces technical debt

Most organizations that are adopting digital transformation are discovering that they have large amounts of technical debt. This stands in the way of modernization and optimal user experience. Unfortunately, in some cases, the cost of legacy code exceeds its value-creating a debt.

On the other hand, Low code/No code platforms are designed to avoid technical debt. SAP Low code platform enables your team to discover customizations, estimate the cost of modernizing them and then transform them into custom objects on the Low code/No code platform. Furthermore, the right Low code/No code platform will make it simpler to maintain and simplify future upgrades and migrations.

Read more: Answering the Critical Questions Asked by Business Leaders Today on Digital Transformation!

4. SAP Low code can help your business scale

One of the most important aspects of resilience is the ability to scale as needed. While it is true that hand-coding development will lock in and not allow your business to scale, it isn’t so with SAP Low code.

Because Low code/No code development solutions use open-source standards, they allow you to export your raw source code and adapt it as required. Additionally, cloud-based platforms provide virtually unlimited scalability.

Look To A Resilient Future With Low Code/No Code

SAP BTP is in a unique position to assist many organizations to implement digital transformation. It can help businesses achieve significant productivity gains and improve forecast planning. Looking to the future, the digital landscape is changing.

Enterprises must continue to evolve on their mission for greater speed and agility. SAP Low code/No code platform creates a unified, business-centric, open platform for an Intelligent Enterprise. You can count on SAP for future-proofed resilience. As an SAP Silver partner, Fingent is uniquely positioned to open up all the benefits of its features in a way that is tailored for your business. Give us a call and let’s get talking.