According to Statista, the digital investment market is expanding quickly and is expected to reach a global value of US$5.27 trillion by 2027. Considering this prediction, it is obvious that this market will continue to be both extremely profitable and fiercely competitive. Therefore, you shouldn’t ignore creating an investment application if your goal is to obtain a competitive advantage in this market.

We’ll go over the crucial actions you should take to make sure your investment app achieves its maximum potential in today’s post. We’ll explore several types of apps and features to help you make your solution financially feasible and give you a better idea of what to think about while developing an investment online platform. Now let’s get going!

Different Examples of Investment Platforms in the Market

Robinhood

Founded in 2015 by businessman Vlad Tenev, Robinhood gained prominence in 2021 when its members, supported by Reddit forums, nearly brought down Wall Street with their group investment plan involving shares of GameStop.

The idea of fractional share investing, which enables traders to buy a portion of a share and enables even tiny investors to engage in the stock market, is another innovation that Robinhood is credited with popularising. To build a trading app like Robinhood, you need to consult a well-known development company that has expertise in creating digital investment platforms.

Capital

Established in 2016, Capital.com is a Cyprus-registered firm with a substantial presence in London, where its dual offices are located. Viktor Prokopenya is a technology entrepreneur. A trading platform for a variety of financial items, such as equities, commodities, currencies, and cryptocurrencies, is offered by Capital.com.

eToro

Through the social trading platform eToro, traders from all around the world can communicate and exchange information. Because users may follow and replicate the trades of other profitable traders, it’s a desirable choice for beginners who wish to pick up tips from more seasoned traders.

What are the Types of Investment Platforms?

Selecting an investment platform type that aligns with your business vision is a crucial first step when considering how to build one. For this reason, we’ve given you a rundown of the typical kinds of investment software.

Crowdfunding

All business concepts remain just that-concepts-until they have adequate finance. However, it can be difficult for entrepreneurs to attract investors; crowdfunding sites assist with this. Rather than asking for a sizable donation from a select few, crowdfunding involves asking for modest contributions from a wide number of people using specialized web platforms.

Developing a crowdfunding app entails setting up an online marketplace where producers/fundraisers and funders/backers can engage in crowdfunding activities. Software is used for virtual communication. To launch a campaign, you need to supply product photos, a business strategy, and a description of the initiative. Among the campaign types are nonprofits, commercial concepts, and individual requirements. When investors believe a project is worthy, they invest.

Peer-to-Peer Lending Platform

Platforms for peer-to-peer (P2P) lending facilitate the connection between loan-seeking individuals enterprises and investors online, doing away with the necessity for traditional financial institutions.

The creation of loan lending apps seeks to link investors and borrowers directly to democratize funding. They provide a different loan choice that can be easier to get and more effective. However, before participating in P2P lending operations, individuals must thoroughly understand the risks involved, undertake appropriate research, and evaluate their financial status.

Do it yourself

Unlike the preceding apps, Do-It-Yourself (DIY) apps necessitate personal decision-making as their name implies. They are better suited for experienced traders because they usually do not offer analytics or suggestions for investment ideas.

The main goal of do-it-yourself apps is to give investors access to crucial data, like stock prices and minimum amounts.

Exchange Platforms

Users are now able to investigate and participate in a variety of financial markets, such as those related to currency and cryptocurrencies, securities, commodities, and the like, thanks to the development of these outstanding financial investing apps.

Using mobile exchange platforms to trade and invest in different stocks while taking advantage of exchange rate variations is a simple process. If you are still confused and need more options, you can read our blog which gives in-depth insights on how to find investors for an app. 

Key Features to Add in Building a New Investment Platform

Features of investment platforms can be broadly categorized as general and industry-specific.

The broad features are not fintech-specific; rather, they are the kinds of functionality you would expect across a wide range of applications. Among them are:

• Individual accounts to keep track of all user data and financial transactions
• Alerts in real-time so you never miss a crucial message
• Support for multiple platforms so that users can use the platform on any device
• Analytics dashboards to compare and view results to decide which investments to make
• Around-the-clock support to report problems right away and receive expert assistance, etc.

If you want to create a truly helpful investing platform, it’s crucial to concentrate on the features that come with it. These are the ones we recommend to add while creating investment platforms.

Registration

By onboarding a user, you can make them feel secure and at home. A new user’s onboarding process is an opportunity to introduce yourself and explain how your software functions. For investing apps, the onboarding phase is crucial because the registration process typically entails numerous requirements, such as KYC and AML processes.

These processes aid in user identification and guarantee that their earnings are legitimate. The weakest area of investing apps is this one, where a lot of customers unsubscribe. The fact is, that formalities irritate people. Even though you are powerless to stop the processes, you can at least help the user through them and make them feel at ease. 

Personal Profile

Personal profiles function as investment portfolios in investing apps, allowing users to manage their assets and monitor their profitability.

With the usage of these insights, the app is better able to comprehend the user’s investing preferences and offer pertinent options and recommendations that are in line with their goals.

Online Purchases

Online transactions can be completed by integrating your investing platform with a payment provider. 

Money Withdrawal

The personal profile should include access to private funds and the ability to withdraw money in addition to the transactions and portfolio. 

News Feed and Ranking

Give your users access to a ranking of investing options to assist them in making wise financial judgments. The most popular stocks on the stock market are displayed in this top chart. A news feed that features the most recent corporate news might also be very beneficial to the user. 

Chatbots and Virtual Advisors

One of the most popular trends in the market for investing apps is the financial counselor. For novice investors who are unsure about their investment abilities, this function can be a huge help. 

Push Notifications

When developing an investment app, don’t overlook the push alerts in real-time. Users can receive notifications from the system about current account status, discounts, special offers, and changes in the stock price. Or notify the end of fraud prevention of any unexpected behavior on the account.

Step to Create an Online Investment Platform

The essential elements to building an effective investment platform are outlined below, along with best practices to reduce project risks and expedite platform launch payback.

Step 1: Business and Market Analysis

We begin the development process by carefully examining the following crucial elements:

• The client’s expectations regarding the platform’s capabilities and reach its availability in specific areas and its special demands regarding the user experience.
• Current market trends and the competitive landscape in several areas, including traditional and alternative investment, asset class-specific investment, B2B and B2C investment, and short- and long-term investment.
• The target audience, needs, and pains of the solution. The ability to increase the number of users on the platform.
• Practical methods for monetizing platforms.

The information gathered serves as the foundation for selecting the most appropriate niche, kind (web, mobile, or both), and monetizing one model. Introduce the list of features and functional requirements of the app. 

Step 2: Search for an Investment Platform Development Partner

A significant degree of fintech software development expertise and substantial technical understanding are required to produce a product as complicated as the financial platform for investment services. Through the outsourcing of IT experts, entrepreneurs often find professionals to bring their financial app ideas to reality. They build a minimum viable product initially before the final app is launched to check the final testing and changes if needed.

There are several important elements to take into account when assessing a potential partner for software development outsourcing. Here are some important things to remember.

Assess the vendor’s experience and skill level in developing financial software that satisfies your requirements. Examine their case studies and actual client testimonials to ascertain their skills and level of industry knowledge.

A successful outsourcing partnership can be established by assessing the project management resources and communication strategies of the provider. It is essential to have access to dedicated project managers or team leaders who can facilitate effective communication and cooperation.

To your business, it’s also critical to take into account their location and time zone. To enable successful communication and collaboration, factors including proximity, language limitations, and overlapping working hours should be taken into consideration.

Step 3: Finalize the Design for Investment Platform

The development team advances from a vague platform concept to a well-defined solution design at this point. We provide:

• An ideal feature set for the platform, comprising features for security and compliance as well as value-adding capabilities made possible by highly skilled technicians (such as AI-powered suggestions for the best investments). We rank features according to how important they are to end users and whether they have the potential to pay off quickly.
• Platform architecture as well as the points of integration amongst its constituent parts. We design a scalable and robust system that can handle heavy traffic and easily handle the anticipated number of transactions.
• UX and UI design for different user roles (administrators, external partners, individual investors, and institutional investors, among others). Our goal when developing user experiences and the platform’s design is to maximize end users’ ease.

Step 4: Choose the Right Tech Stack

We assess the technologies and tools available for developing investment platforms and create the most appropriate toolkit while keeping the requirements of our clients in mind (such as quick solution launch and low operating costs).

Step 5: Development Phase

Typically, the creation of an investing platform utilizing includes:

• CI/CD, container orchestration, and other automated environments for development and delivery are established.
• Coding the APIs and back end of the platform.
• Designing user interfaces based on roles.
• Establishing a data storage system for investor and transactional data.
• Carrying out the necessary testing processes concurrently with development.

Step 6: QA and Testing

The creation of the investing platform can begin once all the technical details have been resolved. The goal of the UI/UX designers is to create an intuitive and user-friendly interface for your next software system. Developers take over the work once they’re done.

Encoding and implementing the previously selected functionality is the primary responsibility of software developers. When a system or a portion of its functionality is ready, Quality Assurance services should be rendered. The QA engineers ensure that there are no problems and the system is operating effectively. If they do, they file bug reports so the developers can address the issue.

Step 7: Deployment

The day of release indicates that the investing system is operational and prepared for you and your clients to use. The team posts your investment solution to marketplaces if it includes a mobile app, and the experts migrate your website to a live server if it is a website.

But, the vendor and you continue to work together after this. The specialists at the provider keep an eye on the functionality of your investment platform to promptly address any issues or incorporate new features that will improve the convenience of providing investment services via the developed software.

Conclusion

The lack of a minimum investment quantity makes investing applications popular, but to attract users’ attention and gain their trust, they must adhere to certain rules.

Thus, take into account its design, integrations, geography, user flow, and experience first whether you’re looking for SaaS application development services or are considering how to build an investing platform. Next, talk about the features you would like to see in the platform and whether or not they are simple to implement with the IT team. Lastly, confirm that the team is knowledgeable about the most recent industry standards for protecting user data in the investment app.

Developing an online investing platform is not a simple task; dealing with delicate subjects like money is never easy. For this reason, we advise you to reach out to the best software development partner to create fintech solutions.

The post How to Create an Investment Platform: Development Steps, Features, and Examples appeared first on CMARIX Blog.

What Does the Term “Digital Products” Refer To?

Before we jump into digital product development, we must discuss what digital products are and gain an idea about them. Digital products are intangible goods, such as services or software solutions,that are delivered electronically via different digital or internet channels available. Since there are a wide variety of digital products available, we cannot zero in on any specific form or type.

Another way of describing digital products is as follows – digital products can be thought of as services that cater to diverse customer needs and with a pervasive presence. However, these products can neither be held, touched nor tasted. To help you better understand the different digital products available, let us discuss some common examples.

Some Examples of Digital Products

Some common examples of digital products that businesses investing in digital product development services look to build include:-

1. Software Solutions – Refer to mobile applications, computer programs, and web apps that focus on fulfilling specific customer needs.
2. Online Services – Include services like SaaS platforms, cloud storage solutions, subscription-based services, and dating applications. Prime examples include Netflix, Spotify, and Amazon Prime.
3. Digital Content – Refer to e-books, podcasts, videos, online classes, and streaming services that are accessible online and can also be downloaded to ensure that they are available offline.
4. Online Courses and E-learning Modules – These are educational digital products that focus on improving the accessibility and adaptability of learning via e-learning resources and courses that allow multiple users to sign up.
5. Subscription-Based Models – Prime examples of applications or digital products adapting subscription-based models include Netflix and Amazon Prime. These models charge pre-determined monthly or annual fees to consumers in exchange for their services.
6. Virtual Products – A great example is decentralized blockchain technology that allows the distribution of other digital and virtual products like cryptocurrency and Bitcoin.

What is Digital Product Development?

Now that we have discussed the different digital products available, you must be asking – “what is digital product development?” To answer your question, digital product development refers to the time-consuming process of building digital products like software applications, cryptocurrency, and other examples mentioned above. Although it seems simple, the process can be quite complicated and includes numerous steps like project establishment, research, design, development, and testing.

The ultimate aim of the digital product development process is to create products like mobile applications, platforms offering services, and software programs. If you are new to tech product development, we recommend partnering with a reputed software development company to ensure that your tech product is developed as quickly and effortlessly as possible!

What Are Some Roles Involved in a Digital Product Development Team?

Since digital product development is not a simple process and includes multiple steps, there are numerous roles available in the team. Note that all of these roles are essential and contribute to successful digital product development. You must also remember that collaboration among these roles is essential for the successful development of a fool-proof digital product strategy.

Product Manager

A product manager plays a critical role in the decision-making process of digital product development and ensures that the project aligns with the business goals, vision, and strategy. They also play an important role in defining the features of the digital product and the project goals. Another important responsibility of a product manager is acting as a bridge between the development team and the business stakeholders.

Product Designer or UX/UI Designer

Since the success of the digital product highly depends on the user experience, product designers and UX/UI designers play a critical role in digital product development. They are responsible for designing the product’s user experience (UX) and user interface (UI) including mockups, wireframes, and prototypes. The ultimate goal is to ensure that the digital product has an interactive, engaging, and customer-centric design.

Developers or Engineers

Developers and software engineers are responsible for the creation, deployment, and testing of digital products based on project requirements and business goals. Some common development roles that you might need to hire include frontend, backend, and full-stack developers. If you are looking to hire developers in India, we recommend looking for people with a diverse portfolio or those with years of industry experience.

UX Researchers

Since user experience is important in the success of digital product development, UX researchers play a critical role. They are responsible for collecting valuable user feedback, analyzing data, and identifying different design patterns to help the development team create a product with a better design.

UX Writers

Text elements included in buttons or acting as a CTA are quite important and must engage the users. This is why copywriting is so essential and businesses look to hire UX writers who can work on creating copies for buttons, instructions, and other elements.

Project Managers

Project managers define project targets, timelines, budgets, and resources to ensure proper budget and resource utilization. They are also responsible for coordinating and handling product development-related tasks and focus on ensuring that the project adheres to the timeline and deadlines set.

QA Tester

Other than ensuring proper UI and UX, businesses must ensure that the digital products are functional and error-free. This is where QA testers help; they are responsible for identifying and reporting issues in the product and collaborate with the development team to get these resolved. This helps ensure that the digital product is stable and reliable before it is released.

Product Marketer

The product marketer is responsible for promoting a product and driving user adoption through the adoption of effective marketing strategies. Some common responsibilities of product marketers include conducting market research and driving user engagement.

Business Owners and Stakeholders

The team of business owners and stakeholders also play an important role in the digital product development process. This team provides input on the project goals, requirements, and priorities, which pave the digital product development path and the ultimate aim.

If you are a startup or are looking to develop an individual product, we recommend outsourcing your business needs by hiring a reliable and expert software product development company.

What Are the Different Steps Included in Digital Product Development?

As discussed, digital product development can be quite complicated and is not a straightforward process. But, to help you get started, we have broken down the digital product development process into sub-steps, listed below:-

First Stage

In the first stage of the product, we do not directly jump into digital product development. Instead, we take time to research the industry and other aspects involved to ensure that the ultimate project is developed successfully. This stage can be broken down into a few sub-parts as follows:-

• Goals of the Organization

Before you invest in digital product development or cloud application development, you must focus on determining the purpose and value of the project. Not only that, you must also determine what business goals the project will help fulfill. Focus on creating a business plan that breaks down your product, marketing, finance, and business goals.

• Ideation and Market Research

Once the goals are determined, stakeholders and other teams involved must come together to ideate. They must explore the different solutions available and determine which is the most viable. This will ensure that resources are properly utilized and are not invested in the wrong project. Teams must also focus on the current market, discuss market gaps and customer needs, and analyze the existing market condition.

• Rough Shaping

Once you have zeroed in on the most viable and feasible solution, it is time to roughly shape its features, design layouts, flowcharts, spreadsheets, and diagrams. This stage is essential to the complete digital product development process and is focused on building a strategy that takes the business through it.

• Digital Product Strategy

Here, you must outline the steps that are to be followed to bring your product into existence and launch it in the market. This will not only influence the initial strategy adopted, but will also influence the development budget, necessary steps, and rough shaping. If you are not experienced in the creation of digital products, we recommend partnering with an expert digital product development company.

Development Stage

In this stage, all the essential roles discussed, i.e. product managers, designers, developers, and testers, collaborate to create high-quality and functional digital products. Every team member has a unique skill set and contributes to the complete digital product development process. Some key steps that are involved in the development phase are:-

• Exploration and Brief Details

Once your project’s outline and strategy are finalized, your team must check for any questions and assumptions that might arise down the line. You must resolve these as soon as possible to ensure successful digital product development. Some common sub-tasks included in this stage include:-

1. Understanding what problems must be resolved
2. Creating a well-formed strategy that helps solve issues and better reach business goals
3. Formulating a short summary and concise document outlining project details like technical requirements, project limitations, diagrams for better understanding, and proposed solutions

• Design

Product designers utilize low-fidelity and high-fidelity concepts to design product flows and designs in this digital product engineering stage. This stage is quite crucial and is aimed at formulating visuals that help understand how the final product is supposed to look.

• Development and Engineering

In this digital product development stage, the development team utilizes concepts like Waterfall, Agile, and DevOps to create digital products. The focus is to boost adaptability and ensure continuous improvement without sacrificing the quality of the final product.

• Pre-Release Testing

Once the planning, design, and development stages are complete, the next step is testing. Teams perform internal and external user testing to ensure that the ultimate product is not only high-quality but also functional. This stage requires collaboration between QA testers, designers, developers, and product managers.

Launch

As soon as the complete digital product development team has worked together and developed a product that is to everyone’s liking, it is time to launch it. We recommend you prepare for a soft launch to generate interest and proceed with an official launch. You must collaborate with a marketing team to ensure adopting a strategic approach that will help your product capture the market.

Why Do Businesses Focus on Digital Product Development?

Other than the benefit of having a product that caters to the business’s brand identity and customer needs, some other benefits of digital product development are as follows:-

• Ensures efficiency
• Helps the business collect data on target customers
• Ensures a low product downtime
• Helps save costs in the long run
• Ensures that the business is ready for a great future in the industry
• Offers great business insights

What Are Some Important Points That You Must Keep In Mind During Digital Product Development?

Digital product development is not at all simple, which is why we have mentioned some points that you must keep in mind:-

• Ensure that you take user inputs into account as they can provide a fresh perspective and valuable insights
• You can customize your development approach if needed because it should cater to your business needs as best as possible
• Collect multiple ideas from multiple sources to help foster emotions and ensure breakthroughs
• Better understand your business goals to ensure successful digital product engineering.

Why Collaborate With Us for Digital Product Development?

If you are looking for the best enterprise web application development services in the industry, CMARIX must be your choice! Our years of experience ensure that you get access to the best solutions that are tailored to your unique business needs and goals. We recommend you get in touch with our team to start a discussion and take a step towards successful product development.

Conclusion

Digital product development can be quite complex, but we hope that the above article will help you navigate the troubled waters. Ensure to focus on each digital product development stage to develop the best possible products and services. You can also get in touch with the team at CMARIX to get the help you need to ensure success!

The post A Detailed Guide to Digital Product Development for Beginners and Startup appeared first on CMARIX Blog.

Clearly, we are at a turning moment in the need for digital health solutions.

But how precisely should a company be built in this $3.8 trillion industry? More importantly, how do you escape the pitfalls and dead ends that await all others who have gone before and failed?

Why Do Digital Health Companies Fail?

There is a huge need for cutting-edge healthcare solutions and technologies. For example, the pandemic has caused a notable rise in the use of telemedicine and telehealth services by patients and healthcare facilities. Indeed, more than 70% of Americans are open to telemedicine, and over 76% of healthcare organizations are prepared to cover telemedicine in their insurance policies.

Therefore, why can’t new healthcare startup companies prosper if they’re providing the proper solutions? Let’s determine the main causes of their failure:

Failure to Adhere to Industry Norms

It needs extensive planning and legal advice before you launch a healthcare firm. Most medical startups fail because their founders can only pass some licensing, regulatory compliance, industry bureaucracy, certification, and testing requirements.

Conversely, entrepreneurs in the medical field who conduct due diligence are more likely to succeed. Prior to starting, be sure you understand the following points:

Not every healthcare web development startup requests the same authorization and safety measures from the law. So, be careful when selecting your service compliance. A few concepts for healthcare tech startups can be presented.

However, certain medical startups need to go through laborious legal processes. Projects that are under FDA policy include, for example, professional-grade clinical items.

Ineffective Communication between the Intended Audience and Medical Experts

Not having strong relationships with funders, stakeholders, and future consumers is another factor contributing to the failure of over 32% of medtech businesses. As a result, they are unable to get meaningful input to polish and finalize their products. Therefore, before launching a healthcare firm, make sure you address the following three points:

To identify possible hazards, get in touch with and present your medical business starting ideas to reputable healthcare organizations and professionals. For long-term, ongoing support, stay in direct contact with your target audience, which consists of healthcare professionals.

Dangers Related to Development

Other possible obstacles to medical development that may cause medical companies to fail include:

• Poor usability: complicated interfaces, uneven product functionality, etc.
• Technology complexity or a tech skill gap
• Accessibility of less expensive development options
• Ineffective communication and poor marketing
• Untrustworthy development partner for healthcare
• Searching for a trustworthy startup service in healthcare

Now that we are aware of the possible pitfalls to avoid, let’s move fast to the things you need to think about before working in the healthcare industry.

Critical Elements to Take Into Account Prior to Starting a Medical Startup

Checking off all the essentials before launching a healthcare venture is essential to creating a winning startup business plan. If you want to create a positive link between technology and healthcare, the following are the main points to consider.

Market Conservatism

Well-established medical businesses typically don’t want to constantly update their operational models to incorporate the newest healthcare technology trends. InstaMed’s 11th annual survey states that 84% of healthcare providers still favor manual, paper-based procedures for gathering patient data and processing payments.

Established medical businesses are extremely cautious when integrating new tools and technology, even when it puts an additional load on them. Consequently, you need to have good legal counsel and an evidence-based research product if you want to enter a conservative market with strength.

Health Data Interoperability

The complexity of medical data should not be underestimated by any company hoping to innovate in the healthcare startup space. At the moment, more than 36% of medical record administrators report having difficulties sharing patient data.

This implies that your medical startup product needs to work with other medical professionals’ gadgets or data solutions. How can one accomplish this? Ensure that your new healthcare product complies with standards for interoperability, such as FHIR (fast healthcare interoperability resources) and Electronic Data Interchange (EDI).

Adherence to Regulations

Startups in the medical field must manage thousands of local, state, and federal regulatory compliances. The top healthcare tech startups have considered the laws for companies wishing to launch a medical startup in the US are listed below.

HIPA

The Health Insurance Portability and Accountability Act, or HIPAA, governs how personally identifiable medical information is kept safe. The study specifies requirements for security, privacy, and electronic medical data interchange.   

DSS PCI

The Payment Card Industry Data Security Standard, or PCI DSS, guards the financial information of patients. The policies of your medical startup must be followed to exchange, store, and handle your patients’ financial information.

Creative Solutions

You shouldn’t anticipate the healthcare sector to boom. It is vital to possess a pertinent product or medical solution that enhances patient care. The first business concept for your medical practice accounts for 90% of its success. Therefore, make sure your medical startup idea is cutting-edge and promotes improved medical care and administration.

Seven Steps to Creating a Profitable Medical Startup

In order to provide the greatest industrial solutions, we have made the procedure as specialized as possible. Starting a medical firm is a time-consuming undertaking. The following strategy can help you create profitable medical technology startups:

Analysis and Research on the Market

Extensive market research is essential in a sector as complex as healthcare. As a starting point, you should focus entirely on your target market, available technologies, and accepted medical industry norms.

Your users are more likely to be more than just patients when you have a target audience. Pharmacies, medical facilities, labs, and research institutes are a few examples of your users. Define a precise target market that you believe will be interested in using your product when it launches.

Additionally, ascertain the basic needs of your intended audience and assess whether they are important enough to justify a solution. Aside from this, educate yourself about the healthcare industry and the barriers that may exist there that will keep your users from implementing your solution.

Hire a Consulting Firm

You must comprehend the notion of medical science as well as the specifics of the field. Hire healthcare developers to get assistance and recommendations to protect your business model, as well as a weighted perspective and potential obstacles. Furthermore, the members of the medical board possess knowledge of new developments in healthcare technology trends that could benefit your medical company.

Development Structure

You need to have an outline for your business product made by your development team. The process begins with paperwork outlining the objectives, deliverables, expectations, and both functional and non-functional requirements.

Begin by creating a document that addresses the following elements:

• Development of software products using open-source tools, frameworks, APIs, and tech stack
• A user interface, important features, and functionalities, application logic, etc. are all part of software/app design.
• Architecture (components, layers of relationships, tactics, etc.)
• Security (risks both internal and external, methods for mitigating them, security procedures, etc.)

Budget, MVP, and Business Plan

If you want to avoid running out of funds before launch, your main goal should be to develop and fund your medical firm for a minimum of five years. This means that based on assets, inventory, security deposits, and related expenses, you should create an estimated budget and a strategic business strategy.

Create a healthcare app budget based on the estimate provided by your contracted development firm. MVP development is another way to test your concept, key features, and model before moving on to a full-fledged development.

Revenue Model

A subscription-based approach or a one-time license cost are your options. Wearables, patient evaluation tools, and remote patient monitoring systems are good candidates for one-time payment methods.

To attract additional users, cloud-based medical solutions typically maintain subscription-based business structures. For a more thorough understanding, you may also search for different business monetization models.

Promotion of Products Prior to Release

Prior to release, begin displaying your medical startup product to your major target groups in order to reach the greatest number of people. Ensure that the industry gatekeepers, the government and insurance companies, are likewise fond of your new product.

Additionally, it can be more difficult to market cutting-edge technological products in the healthcare industry, so be prepared to support your offering with empirical data. How can you increase the credibility of your product promotion? Peer reviews and random control trials.

Product Creation and Launch

Examine the input you receive following the MVP launch, and before moving on with full-fledged development, have your development team adjust the necessary technical specs.

Building your medical business with scale in mind is something that an expert app development firm will advise you to do. For example, modifying computational and storage resources through the use of cloud infrastructure.

If you want to separate your product modules into connected modules, you can also use a monolithic or microservice design. Additionally, you can update these modules to improve your product by integrating user-friendly APIs. Although creating a medical startup the proper way will undoubtedly be a difficult and lengthy trip, the steps listed above can assist you at every level of the process.

Our discussion on “how to start a digital health startup company” is nearly over. However, you have an extra read. To get off to a good start, be sure not to miss it.

How Can CMARIX Support Your Startup in Healthcare?

The most reputable healthcare software development company, CMARIX, is well-known for using cutting-edge digital solutions to digitize healthcare. The greatest healthcare management software is provided by the knowledgeable team of CMARIX, which consists of more than 228+ healthcare professionals. This software helps clients earn business, improve the quality of service, increase patient happiness, and streamline internal processes.

Three major obstacles to the successful completion of healthcare digitization are addressed by CMARIX’s work on more than fifty digitization projects: organizational structure, attitude, and governance.

Among the many services we offer are:

• Apps for telemedicine and telehealth
• Electronic Health Records, or EHRs Prescription Procedure Administration
• Tracking of lifestyle, software integration, medical insurance, and much more.

Start by talking about your startup objectives with leading medical specialists to gain personalized feedback on your idea.

The post How to Build a Medical Tech Startup – A New Way to Develop a Healthcare Company appeared first on CMARIX Blog.

One of the worst-hit sectors from the impact of the pandemic is the restaurant and food chains. They no longer can accommodate their sit-in customers for dining in the restaurant. After long days of complete shutdown around the globe as restrictions are being lifted gradually and partially in a few regions, the food chains and restaurants are only permitted to deliver food in a way that doesn’t require any physical contact with the customers. Thus the concept of contactless restaurants once again took the center stage.

Is contactless restaurants going to be the new normal of the food business of the future? Does this look really feasible and practical? How can this work? How effective the concept is for the survival of the restaurant business? Besides trying to answer these questions we would also like to show how a contactless restaurant solution can be built.

What The Surveys Say

The confinement is slowly giving way to the resumption of everyday activities, including dining out. But people still expect to feel protected. Contactless catering is one of the ways to ensure security while opening its doors to an experience closer to normal. From CMARIX you can get the best idea.

Why Choose This Concept?

People are hypersensitive. According to Modern Restaurant Management, 38% of people who return to dining rooms are afraid of touching objects that other people have touched before them: menus, money, payment terminal, etc.

It helps tame fear. Many people are still hesitant to venture outside and know that going to a public place carries a risk. Eliminating unnecessary contact assures the customer that you care about their concerns.

It reduces potential exposure. In addition to protecting the health of clients, you are protecting the health of your team members and, ultimately, your finances. So You can opt for Contactless Dining Food Ordering System For Restaurant now.

Are People Ready For This Approach?

Technologies are everywhere. Since the start of the pandemic, delivery and take-out services have played a vital role in the survival of restaurants. Using tablets and smartphones in the on-site experience is just another small step.

Industry giants are showing the way. For its reopening, Starbucks has decided to introduce contactless protocols, including ordering by mobile application and contactless payment.

Customer expectations are clear. Although some places prohibit the one-time use of the cashless payment, some customers are showing interest in this approach. In recent weeks, this type of payment has seen a notable increase.

Read More: 7 Exemplary Food Startup Ideas That Can Win You Big Business

How Contactless Dining Really Works?

Just think of the diners serving for their preferred restaurant online and after evaluating ratings and reviews pre-order the meal well before they leave their house. As they reach the restaurant they need to stand no queue and become able to get their car parked by using a contactless valet. When they take seats, instantly the food is served. For additional orders of dessert or something, they can use a digital menu right from their smartphones by just scanning a QR code and placing the order. After the meal is completed, they make the payment using a mobile wallet. Now, this entire dining out experience is fully contactless.

Now let us break this contactless dining experience into multiple contactless procedures as explained below.

The Discovery of hygienic restaurants through digital platforms and mobile apps can be easily done. To build more confidence and transparency for their diners restaurants can post videos of hygiene steps and cleanliness steps they undertook. The Contactless ordering app is perfect.

Restaurants can allow pre-ordering of foods to cut the wait times at the restaurants and prevent touching the restaurant menu.

Contactless valet will help to make payment at parking lots while cutting the wait time and getting rid of the crowd.

Contactless seating is facilitated by online bookings and reservations and allotment. This will also help the restaurant to maintain adequate social distancing.

The Contactless menu is facilitated by the ‘Dine-In’ digital menu solution. Such a solution by using data analytics and AI can further offer dynamic pricing and customized offers.

Contactless payments are already in place through a whole array of mobile and digital wallets.

Contactless feedback is possible by allowing customers to give ratings and feedback on their dining experience right through the restaurant website.

Read More: Key Features, Business Model and Technology Requirements for Hotel Booking App

Contactless Dining: Learning from the Dine Out Solution

Recently some digital restaurant solutions are inspiring others to embrace contactless services for their customers. Dineout was born with the goal of helping food lovers discover and visit restaurants and food joints across the country. The platform was long hailed as India’s largest dining out and restaurant technology platform.

With a restaurant first approach, the platform offered unique support to the restaurant and hospitality businesses with their ahead of time technology solutions. The innovations of the platform were truly unique as it facilitated a Contactless Dining solution long before such a pandemic crisis became a reality. Covid-19 has only aggravated the receptivity of their solutions from the industry.

The Contactless Dining platform can easily make way for innovative means to do away with irrelevant human interactions and replace it with unique tech solutions. The post-COVID 19 world has to deal with the restrictions and health hazards of physical contacts and making movement in public places.

For many months and possibly some years to come, human movements and physical contacts will continue to be restricted to a bare minimum. This is where such futuristic solutions will play a major role. In the times ahead people will avoid touching things like currency notes and restaurant menus that generally pass through several hands to hand exchanges. In order to provide a better alternative to this, restaurants need to develop trust and ensure certain habits for reassuring diners about hygiene. For Contactless Order & Pay for Restaurants this process is perfect.

How CMARIX Can Help You Build Contactless Restaurant Solutions?

CMARIX is a technology company with the distinction of creating unique and innovative solutions keeping future trends and challenges in mind. We are a well-known name among mobile app development services and unique software developers for diverse industry needs. Long before the Covid-19 crisis became an actual reality, our experts were working on contactless payment and interactive solutions and applications for public places and various outdoor environments such as parking lots, dine-out restaurants, transport terminals, and many others.

Now that the COVID-19 crisis finally gave us a solid reason to focus exclusively on building contactless digital solutions with a keen focus on reducing physical contacts, we feel immensely responsible to deliver something unique that can fully address the hygiene challenges thrown to us by this pandemic. There are several touchpoints that a diner in a restaurant comes in contact with and with the introduction of the right technology we can provide the perfect alternatives for all of them. Our contactless restaurant solutions are also focused to keep the quintessential dining out experience intact or even make it better.

You may like this: Creating an App for Restaurants

Conclusion

Savoring a quick sumptuous mouth grab in your favorite restaurant can look difficult in the post-COVID 19 crisis. But the contactless restaurants and similar digital solutions for public places are likely to make things easier for everyone.

The post Contactless Restaurants: The Post-Pandemic Future Of Restaurant Business appeared first on CMARIX Blog.

But the insistence on the implementation apart, an idea also has to be unique, user-focused, competitive and feasible for driving revenue. The revolutionary ideas behind apps like Uber or WhatsApp couldn’t be possible without brainstorming and creative output. For an app idea for a startup, it must pass through the acid test of relevance, uniqueness, and ability to stand out with a competitive edge.

Are aiming for a big success with your unique tech idea? Wait, let us explain the steps and measures to shape this idea further into success.

Evaluate and Analyze the Competition

Before boasting about the uniqueness of your idea, you need to evaluate it in the context of existing technologies, apps and solutions from the same niche. There is always a possibility that someone in someplace else has embarked on the idea earlier than you and it has already made a market presence with all the promises to make a big success. This is exactly why you need to analyze the competition before really putting your design and development effort behind it.

You always need to remember that even while Uber became popular with a unique value proposition, other successful ridesharing services and apps have not ceased to appear and claim their market share. Obviously, even with a similar basic idea you can always make value additions and tweak the original concept to address the needs of the users.

There are several quality web platforms to analyze and evaluate your competition and know where your offering can actually do better in the competition. You can conduct a customer survey and get acquainted with other solutions through Google and other social as well as web platforms. CrunchBase, Quora, SimilarWeb, and Wonder are good platforms for competition research and analysis.

The last but not the least consideration about your competition should be on the broader landscape that not only comprises your closest competitors but also other business brands from different niches that target the same audience. In respect of design and branding elements, Coca Cola never leaves an inch of competitive space to even Tea and Coffee brands catering to a similar audience.

Expertise in the Business Niche

One of the greatest success requirements for any new tech business is to establish authority with expertise in the respective niche. While experience comes over time, having expertise also depends on having exposure. If you are into virtual reality or augmented reality game development, to deliver a unique and phenomenally successful game like Pokémon Go, having some experience in VR/AR app or game development will be very useful. If you are a developer with years of experience, you can hire dedicated developer with required credentials more easily.

Expertise coupled up with seasoned exposure gives you professional competence to think ahead of your competition and come with unique ideas and concepts that really can deliver. Without niche expertise and experience you hardly stand a chance to create something unique, innovative and competitively brilliant.

Technical Scope

If the idea already exists in one form or the other, you can easily know the technology to shape that idea into the app. If the idea is completely unique, you may require to evaluate the technical feasibility and the scope of the idea. For instance, a great new idea can just sound good on paper but there is hardly any guarantee that it can be shaped into a marketable product with unique advantages for the users.

You need to consider the closest in hand technologies that are used in similar or near-similar apps or tech solutions. Then, you need to consider better choices in comparison. Lastly, you should take into consideration all the development options. You need to consider the present technology options to meet the demand of every feature and development needs. Lastly, you need to consider the compatibility of all the tools, frameworks and languages for developing the solutions. Remember, you always need to pick technologies that can evolve smoothly with frequent or regular updates from their developers.

• Building Quality Website

For a great tech idea to flourish into a successful solution in the market, you need to reach out to the wider audience and the experts if your niche. This demands to build a quality website that works in sync with all SEO parameters and guidelines to get frequent search rankings. A solid web experience fine-tuned with access to a rich reserve of quality content relevant to the business or solution will be key to gain focus and search engine visibility.

• Hire the Right Talent

As a development company with a futuristic tech vision, you always need to hire dedicated developers for your projects instead of the half-timers and the freelancers without the required commitment level. A dedicated developer team can only share your vision and long term objectives for your project. With a dedicated team engaged for the entire lifecycle, the tech solution or the application can also easily evolve through stages without missing a single scope of value addition.

• Remote Collaboration and Outsourcing Talent

These days, a talent hunt for tech projects has become easier thanks to the remote hiring or outsourcing model that allows hiring and working with a development team from thousands of kilometers away. When you can engage and collaborate with a remote development team, you don’t need to bear with the constraints of the market of local manpower. You can literally stay in touch and collaborate with the world’s best developers across the niches.

Revenue Potential

Let us now ask the most obvious question regarding any tech idea that wants to grow as a business. Well, unless you are planning to go to Mars with some weird technology, almost all ideas have some kind of revenue potential. You need to ask, whether the so-called great idea on paper can really stand as a business solution with great revenue potential? Where from the application or the tech solution can generate revenue and what revenue model really suits the solution best, these are the key concerns that you need to address.

Business Plan

Now, when you have a complete idea about the value proposition, feasibility, tech stack, competition, revenue potential, and effective monetisation models, it is time to chalk out a clean and well-documented business plan that vividly explains aspects related to profit and loss as well as the investment and funding options. The business plan will furnish a complete idea of your shortcomings and strengths and how to address them or capitalise on them.

Conclusion

In conclusion, we must say, building a unique and innovative solution is one thing and marketing it to its appropriate audience and garnering popularity is another thing. After building a great app, you equally need to market far and wide by applying all appropriate techniques and innovative measures.

The post You have a Great Business Idea? What To Do Next? appeared first on CMARIX Blog.

Question that continues to keep pounding at the back of the mind of any startup owner is that, what promise this platform stores for us? Do we at all need to focus on making a DevOps presence at this stage when we are just a budding startup? To give legitimate answers to these concerns we need to know about DevOps from the very basics.

What is DevOps?

DevOps refers to nothing but a platform or a cluster of collaborative IT practices to bring together various processes of software development companies in order to work on a development project. The objective of bringing g together developers and operations to work hand in hand on the same project is to boost efficiency, minimize overlapping errors because of lack of communication and understanding with the operations and optimize the performance of the software product. DevOps following agile development methodology shortens the development cycle by concurrently carrying several tasks through a collaborative team effort.

The Reasons for Startups to Embrace a DevOps Strategy

The present-day economy in which a business operates in is characteristically a software-run economy where efficient, friction-less, proactive and responsive business operation holds the key to success. The sophisticated software applications became the key differentiating factor between traditional businesses and modern data-driven businesses. Faster processing of data, data-driven analytics, real time accessibility of data and processes across different locations and hyperlocal consumer reach make modern businesses different from erstwhile business ventures. Companies that cannot fulfill these evolving demands fall behind in competition.

Before DevOps application development became a reality, developers needed to gather the business requirements for a software development program. This used to be followed by QA testing done in a separate testing environment. Only when by testing it is found that the requirements are fulfilled the written code were released for the deployment by the operations team. The team responsible for deployment were segmented into separate groups for tasks such as networking and database. This is how the entire team used to be separated into different teams without any direct collaboration. This traditional approach comes with the following issues.

• The developers being unaware of the QA parameters and operational challenges couldn’t always build a program that meets the requirements.
• On the other hand, QA and Ops teams having little understanding of the value proposition of the software product cannot be sync with the project objective.
• Each group having opposing or non-coherent goals and set of mind can end up accusing each other about project issues while the overall project suffers from lack of output and delay.
• All these disjointed teams working separately for the same project ultimately ends up stretching development cycle and reducing output.

DevOps as a software development approach and practice came to address all these shortcomings in a proper way. By allowing cross-functional teams to work in collaboration DevOps boosts perfection through concurrent testing and reduces friction by bringing all parts together behind the common goal of the project. This is why collaborative development approach of DevOps became so popular.

What Is the Goal of DevOps?

The ultimate goal of DevOps is to enhance collaboration among all stakeholders of a development project. To bring together all functionaries and processes ranging from the project planning and roadmap development to wireframing and design to delivery and delivery process automation, is the ultimate goal of DevOps. This typical collaborative, streamlined and concurrent development approach of DevOps results in the following advantages.

• Make better deployment frequency.
• Ensuring faster time to market
• Minimum failure or rate if errors after the release of the software.
• Minimum time taken to address any issue.
• Enhance the minimum recovery time for a project.

What Are the Phases of DevOps Maturity?

DevOps as a set of development practice typically goes through different phases. Now, let us explain each of these phases one by one.

• Waterfall Development

Before the integration takes place, basically the development teams engage in writing code for three or four months followed by merging of these codes for the same if releasing them. As the codes from separate teams are different and come with an array of changes between them. For mitigating these changes integration process can take even months. This approach widely referred as Waterfall Development methodology is very time-consuming and unproductive in nature.

• Continuous Integration

Continuous integration is a key phase for faster integration of the recently developed code into the main application code which is destined to be released. Continuous Integration by allowing prompt integration of the changes in the code, actually saves a lot of development time and effort and allows faster release of the application in one piece.

This is basically a key agile development practice that over time became part of DevOps development practices. The principal objective of picking up this practice by DevOps is to take advantage of prompt code integration through automation and gain the edged-out efficiency and productivity benefits. From the context of the DevOps, continuous integration requires evaluating the code, compiling the code into usable binary code and running the testing for validation.

• Continuous Delivery

Continuous delivery is basically a concept that comes as an extension of continuous integration. It basically allows the deploying the code continuously as and when the integration of the code is completed. This basically requires automation to deploy the code continuously. With continuous delivery, the hazard of human intervention in deploying the code can be avoided to a great extent.

• Continuous Deployment

Continuous deployment may seem to be just the same thing as continuous delivery, but actually, they are not. The continuous deployment is actually the advanced and evolved stage of continuous delivery. This practice ensures reaching the production stage without involving any kind of human intervention.

The development teams who make use of Continuous Delivery approach don’t deploy the codes that remain untested. Actually the teams use automation testing to evaluate the recently created code before they are pushed to the production stage. By releasing the code only to a small group of users and by utilising an automated feedback loop for evaluation of the usage and output, the developers can decide whether the code needs to be pushed to development stage. As of now, only a very small number of leading businesses practice continuous deployment approach that includes Etsy, Google, Pinterest, Netflix, Amazon, Flicker, etc.

Role Of DevOps Developer

As we have already explained, the DevOps development approach is basically about incorporating changes frequently and incrementally as and when required. DevOps engineers mostly update the existing code of use tool to create a piece of useful code for the project in hand. In spite of the fact they rarely need to build software from scratch, they need to have solid command on the elementary development languages.

The principal role of the DevOps is to integrate codes created by the development teams and for this carrying out scripting tasks with the help of various useful libraries and software development kits (SDKs) and finally integrating other necessary components like messaging tools and SQL data. The final responsibility of the DevOps development team is to release a software complete with the backend production support and appropriate operating system.

Let us have a look at the key roles, responsibilities and capabilities if the DevOps development teams.

• A comprehensive knowledge about different computer programming languages. Being familiar with the Linux is always an added advantage.
• Capability to work with a variety of open-source tools and technologies that can help handling the source codes.
• An in-depth knowledge of the IT operations and roles to make the right strategy for integration and deployment processes.
• In-depth knowledge, experience and skills in the deployment and testing of software code.
• Ability to deploy different DevOps automation tools in the right manner. In-depth knowledge of software development through automation tools is required.
• A solid knowledge about the DevOps agile cycle for software projects is required. Agile methodology plays a key role in continuous iteration and integration of software development and testing.
• Communication skills and teamwork building skills for software development projects.

Software development in today’s context is mostly carried out through various tools and open-source technologies capable to stitch pieces of code to build a sophisticated program. Seldom, software are built from scratch these days. DevOps developers by embracing this approach make use of all the available tools and technologies to the optimum level and helps building custom software software solutions specific to business needs.

DevOps Services Provided By DevOps Development Company

• Infrastructure management and Configuration management

The Chief Information Officers (CIOs) responsible for carrying out development tasks needed for companies must have an understanding of the problems and issues related to the managing of infrastructure in the context of DevOps development. They must have a clear understanding of how the collaborative approach of the DevOps organisations fit their needs. Two key considerations that organisations trying to take DevOps advantage are as followed.

• They need to know about eliminating the manual process with DevOps automation for optimum output.
• Secondly, they need to think of striking the right balance between business demands and operational needs of operating in a secure and stable development environment.

If any organisation can address these two key challenges, it can easily manage the interdependent factors. With this they can also ensure that their systems always remain in perfect sync and there is not even the slightest probability of process breakdown.

Though for every organisation the challenges to manage infrastructure differs to a great extent, the below mentioned capabilities will give organisations a better standing to manage infrastructure.

• Portability of the solutions independent of the vendors.
• Flexibility to extend while remaining compatible with the trusted and tested DevOps standards.
• All business components like storage, automation tools for deployment and server clusters should be easily and effortlessly deployed.
• Easy infrastructure that can quickly be deployed for production.

• Code Inception and Continuous Integration

One must have a comprehensive understanding of the way code is incepted in a DevOps project for ensuring continuous integration followed by continuous delivery and deployment. The DevOps team takes care of all aspects of the service lifecycle of a software product ranging from the planning, deployment to maintenance. The same team having a sound knowledge of the development platform and infrastructure will also work for troubleshooting and debugging problems. This the DevOps team will bring together all processes including strategic planning, development and operations.

Let us have a brief look at the key points to understand how the DevOps works.

• Any change brought with the code of the source control system will trigger a process on the development server.
• The next process is about code compilation to bring together all the necessary components for deployment in customer-usable packages.
• Now, test automation is carried out on the deployment-ready packages to ensure optimum quality and performance of the containing codes.
• After the automation test successfully clears the code quality in the packages the entire application is now put under the scanner of QA team in a test environment for final evaluation and validation.
• At the end, after the approval of the QA team the application is pushed to production without any delay.

• Automation, & Orchestration

After having a solid understanding of how the DevOps software development works, let us understand the key constituent concepts like Automation and Orchestration in the DevOps environment.

• Test Automation

In DevOps environment, automation testing is carried out right within the build pipeline to make sure that the pipeline of the code is ready for deployment. Without testing automation continuous delivery cannot be achieved since the code needs to be ready for smooth deployment without any human intervention.

• Pipeline Orchestration

In the DevOps environment, the pipeline refers to the finished packages of code that make somewhat like an assembly line that goes through several integrations and continuous testing and QA processes until getting ready for deployment and entering into production stage.

Conclusion

Finally, DevOps came as a unifying environment to make give unprecedented boost of efficiency, performance and fast-paced delivery to the enterprise software development market. With DevOps you embrace the cutting-edge development practices sophisticated in agility, speed, performance and robust output.

The post A Complete Guide for Businesses to Use DevOps for Driving Innovation appeared first on CMARIX Blog.

We are thankful to Clutch, a top B2B ratings and reviews website located in downtown Washington, D.C for acknowledging our efforts. Its mission is to connect clients with the service providers that will be the best fit for their upcoming jobs. First, the site segments the vendors listed on the site by location and industry. Then, Clutch analysts assign two scores to each. The verified reviews are conducted by the analyst team either over the phone or online. Clients are interviewed about past projects and offer information about the responsibilities of the service provider and the overall relationship between the two. Many of the companies we have partnered with post reviews on Clutch. Here are a few quotes from our satisfied clients:

Read More: Top eCommerce Development Companies In California

“CMARIX provides personalized service and solutions tailored to our requirements and end user.” Software Developer, G+D Currency Technology

“They are professionals of the first order.” Writer, Aleph Infotinuum Services

“CMARIX has made my dreams a reality, and I’m impressed with the quality of their work.” Founder CEO, GameWithMe

We have also been featured on two other sites that are ran by Clutch. The Manifest publishes business news, insights, and best practices and additionally ranks us as one of the top web developers in India. The second site was recently launched and is called Visual Objects. Potential clients can easily view our portfolio items that are hosted on the site. It allows them to see the kind of work we can deliver before making a hiring decision.

We can’t wait to continue grow our presence across Clutch’s platforms and form new client relationships with their help!

The post CMARIX Earns Accolades on Clutch With Top Ratings & Reviews appeared first on CMARIX Blog.

But from the above news headlines, if you think that the Magento CMS is particularly suited for big players, you are wrong. Magento is equally a powerful platform for large enterprises and startups. In spite of a slightly higher cost, Magento is the most preferred CMS for any leading eCommerce development company principally for its value-driven approach focused on user experience.

This is the time to ask the most obvious question. How much does setting up a Magento Store cost for a startup? Does the cost at all worth the value it promises? According to Forrester Wave Research Magento has been picked up by the majority of developers in 2018 as the most credible alternative for ecommerce development. The same research also shows that the popularity of Magento is spread across both B2B and B2C segments and all niches and sizes of business.

Reasons to Choose Magento

In spite of the buzz around the popularity and wider acceptance of Magento Development Services for ecommerce, if as a startup you are still in doubt about the relevance of this platform, you should rather go deeper and take note of all those attributes that gave Magento its reputation.

Let’s explain some of the most credible reasons to choose Magento CMS solution for ecommerce stores.

• Flexibility and Customizable

No ecommerce CMS offers as much flexibility and scopes of customization as the Magento. It allows building ecommerce stores as per specific business needs and audience-specific attributes. You have a wide variety of sophisticated tools to shape your ecommerce store with the desired look, feel and features. You have a plethora of most sought after and advanced tools pertaining to everything including analytics, conversion optimization, chatbots and automation and all other advanced features.

• Great Inventory Management

At the very heart of this great ecommerce CMS solution, you have a highly sophisticated inventory management system. It is particularly helpful for startups who have less than a resource and manpower to manage and track inventories for the streamlined sales process. Thanks to the automatically synchronized inventory management solution loaded in the Magento, startups do not need to undergo any worry about updating contents and merchandise timely.

Updating the inventory lists effortlessly with the built-in inventory management interface is one of the key advantages of using Magento for offering a streamlined sales experience. Additionally, as your business grows, this also helps to cut the cost of additional manpower and resource management. Instead of grabbing any third-party inventory management software you have everything built in.

• Magento Brings Delights for Both Developers and Store Owners

Magento is one of the few ecommerce platforms that offers support for both OOP and MVC architecture. This gives developers a lot of flexibilities of choice and they can pick an architecture as per the specific needs for the ecommerce project in question. By allowing to choose their preferred architecture, Magento actually helps developers to exercise their individual skills and proficiencies in the project.

On the other hand, if as a small starter in the ecommerce space you want to build a simple functional ecommerce website without worrying much about the technical difficulties and without engaging any experts, Magento can offer you ready help as well. Magento also allows building a web store with least effort and making the Store live in quickest possible time.

• Extensions for Everything

Magento is arguably the only CMS solution that offers so much freedom and values for the ecommerce stores. You literally have a solution for every different problem in and need. Magento boasts of a large and extensive marketplace of extensions loaded with add-ons and extensions for every specific need. Most of these top Magento extensions are ready to use and can be utilized instantly for the desired effect and feature. Whether you need to bolster your search engine marketing or just need a social marketing add-on or just require an extension for content management or require any other help, there are extensions for each and everything.

• Digital Marketing Assistant

For most seasoned ecommerce marketers and industry strategists, Magento is mainly preferred by web stores for all the in-built digital marketing tools. Magento as a CMS solution for modern ecommerce stores is engineered to give your marketing efforts a boost. Magento offers several inbuilt SEO techniques that other CMS solutions lack. The store has an inbuilt digital marketing assistant. From managing and evaluating your website traffic to session duration and engagement to suggesting course correction for better search engine results, you have very marketing help right within this CMS solution. This actually provides great help for pushing your search rank and boost traffic.

• Data-driven Insights

Magento offers some crucial help right within its platform to evaluate users and measure business conversion metrics. The store owners not only can view client history in detail comprising purchase information, search data and wish lists but also allows to get a deeper evaluation of the in-session behavior of users. All such data helps store owners to evaluate the engagement, pain points and areas where the business can do better.

• Mobile Optimized

Lastly, Magento comes as a fully mobile-optimized CMS solution that helps mobile stores to cater to the vast majority of smartphone users. Since most of the present-day online shoppers and web users shop or browse products right in the screen of their handheld devices, the ecommerce stores must offer the mobile-friendly look and feel to boost engagement and business conversion. In this respect, you always find Magento as the ideal CMS solution for your mobile audience.

Why Magento In Spite of Being Expensive is So Popular?

By many measures, the Magento CMS solution is slightly expensive than other CMS solutions in the market. So, as a startup, you might be tempted to ask why the CMS is still so popular in spite of the higher cost of development? Well, here are the key reasons that give Magento a lead ahead of other CMS solutions in the market.

• Visually appealing infinite product catalogue with smooth interaction
• Fastest loading speed
• Natural and inbuilt SEO and digital marketing features
• Simple and easy navigation
• Support for one-click log in
• A comprehensive, easy to use dashboard offering full control
• Easy product management
• Easy and flexible shopping cart
• Smooth checkout process
• Highly customizable with built-in tools and API integration

Top Brands That Use Magento As Their Base Platform

With so much to offer there is no wonder in the fact that Magento CMS is used by most reputed online brands and ecommerce stores all over the world. Some of the most well-known ecommerce brands across the niches that use Magento for their stores or business websites include Nike, Pepe Jeans, Olympus, Mother Care, Zoetis and many others.

What Does Magento Development Design Cost?

Coming to the cost of building and designing a sophisticated and high-performance Magento ecommerce store, the main cost component belongs to the development and design efforts of UX experts, developers, SEO experts and the project manager. Remember the cost of migrating Magento store to Magento 2 will be much similar to the basic Magento development.

Here below we provide the cost breakup of a Magento ecommerce app.

Licensing Cost

• Magento 2 Community Edition: Free
• Magento 2 Enterprise Edition: USD 22,000 to USD 125,000 (Gold Support)
• Magento 2 Enterprise Cloud Edition: USD 40,000 to USD 190,000

Design and Development Cost

• Basic Magento 2 website: USD 10,000 to USD 30,000
• Custom Magento 2 website: USD 30,000 to USD 100,000
• The cost of Platinum Support is around 20% more.

Conclusion

Magento in spite of the cost factors stands taller than most other CMS solutions because of its flexibility, performance, customization and built-in tools. Obviously, the cost of development and design may vary as per the experience and expertise of the developers.

The post How Much Does It Cost To Get Your Magento Store Ready For Startup appeared first on CMARIX Blog.

Hi-tech innovation in the finance sector has come with a tremendously disruptive effect. Many top brass executives in the finance sector feel that the emergence of new technologies and smart as well as agile applications can only favor the tech-driven companies in the competition.

In this post, we are going to explain the key ways tech innovation is taking place in the finance sector and making way for smarter applications.

How Businesses Are Launching, Growing, Managing Themselves With Innovation In Finance?

The entire business world and the individuals subscribing and using the financial services and products day in and day out are increasingly finding these smart applications and innovative methods irreplaceable for great user experience. Let us explain here briefly some areas of finance sector where the hi-tech innovation and automation had the maximum impact.

• Fintech Optimizing Operations

For any enterprise embracing smarter finance solutions to take care of most transactions and payment processing in an effortless manner, has become popular as such solutions boost the operational efficiency besides saving cost and effort.

Just consider how much trouble enterprises used to deal with when depositing outstation cheques or giving payment through cheques or bank drafts. Today, payment is carried out instantly through a single tap on the mobile screen. Customer payment now can be processed through multiple digital wallets, instant pay options or Point of Sale apps. Processing employee payroll also has become easier than ever before.

• Satisfactory Customer Experience Through Instant Payment Processing

The role of Fintech has been really great in faster processing of payments and securing faster and smooth delivery of goods in a convenient manner. First of all, for making payment customers gave an array of options and gateways including loyalty points, digital wallets, instant banking apps, cryptocurrencies and digital money and many others. Such a wide variety of payment options, gateways and channels built by finance App Development companies ensure great customer experience for businesses across niches.

• Credit Score Checkup

Earlier evaluating the creditworthiness of a person used to be evaluated with some simple and straightforward parameters. A simple credit score based upon some stringent considerations worked as the guiding line for most financial institutions when disbursing loans and credits.

In contrast to this, the modern credit scoring check up method having the boost of artificial intelligence (AI) and Machine Learning (ML) now can evaluate the creditworthiness of any person with more precision by taking into a wide variety of factors and by continuously learning about the person over time. This reduces the risk associated with financial credits while can make credit available to a greater number of people.

• Smarter Financial Advisory

With the Fintech solutions in place, financial advisory services have become smarter than ever before. As the financial services continue to become more competitive than ever before with increasing pressure on the commission rate, showcasing and promoting products to customers with a highly personalized approach has become more necessary than ever before. Smart and intelligent financial advisory services equipped with artificial intelligence and data-driven analytics actually helped financial organizations tremendously for recommending products.

• Fraud Detection And Control

Another major area where Fintech solutions made a massive impact on banks and financial organizations is fraud detection and control. Thanks to Machine Learning and artificial intelligence technologies today’s financial service apps can continuously update themselves about the new security vulnerabilities and threat perceptions. By remaining updated on frauds and new security threats today’s Fintech solutions safeguard transactions and financial data better than ever before.

How Tech Companies are revolutionizing the Finance Industry?

Now that we have discussed some of the crucial Fintech applications and methods that helped businesses and the improved customer experience in unprecedented ways, it is time to explain the key advantages of hi-tech innovations and automation that revolutionised the finance industry.

• Developing Mobile Apps to Invest in Financial Products

Now you can make all your investments through simple interactions right on your mobile screen. Whether you want to invest in banking products like recurring or fixed deposit or want to go for mutual funds or want to buy stocks, all of these can be done just through a wide variety of Fintech apps.

• Instant Access

Thanks to Fintech apps you can instantly access all your bank accounts, other financial accounts, transactions and updates in real time. Mobile banking apps, third-party digital wallets and fintech apps for investment and finance are allowing you to transact and do banking from anywhere and everywhere.

• Social Validation and Social Proofs

Fintech apps powered by robust social communities can continuously validate their solutions through credible social proofs. You can always build the trustworthiness of your financial products through real-time social communications and opinions from the connected audience. Any Android Development Company working on ecommerce solutions knows the importance of integrating reputed payment channels validated by users. On the other hand, users can remain free of concerns thanks to such integrated social validation.

• Competitive and Cheaper Solutions

Thanks to Fintech solutions there is a huge increase in the competition and this is creating a more level playing field for the entire financial sector. The Fintech solutions are also pushing for cheaper rates and more value for money for customers. As access to information became instantaneous, the buyers and subscribers are now more well-informed and are in a better bargaining position than ever before.

• Driving Automation

For most finance companies and banks that embraced Fintech solutions for their customer service and operations, inefficiency could be curbed to a great extent. As Fintech apps are pushing for more self-service based solutions, driving automation became easier than ever before. This, in turn, is helping financial companies and banks to curb manpower and cost.

• Ensuring Customization

Fintech apps are now smarter enough to allow a lot of customisation options in all aspects. From personalised recommendations of financial products and solutions to customising menu options based upon previous user activities, customisation in Fintech apps are pushing for greater user engagement and business conversion.

• Transparent Business Process

Thanks to Fintech apps, financial transactions have become more transparent and trustworthy than ever before. The transparency in the financial sector is a key aspect to ensure trustworthiness and reliability. With detailed and transparent information about charges, interests and billing components, the customers can have more piece of mind and financial institutions can enjoy more reliability.

Top Finance Startup Business Ideas

Over the past several years, an overwhelming number of fintech startups with innovative ideas have emerged. These companies are inspiring many other companies to brainstorm ideas that can push automation for the finance sector with more force. Let us see a few examples of such promising fintech startups.

• Quantopian: This community of 100,000 users of quant has come as a platform for building, sharing and trading various financial algorithms.
• Kensho: This is an AI-based data-analytics engine built for non-technical users to utilise data-driven insights for delivering financial services.
• Elsen: It is a high-end computing engine which is capable to work on various complex models to deal with hedge funds for businesses and deliver quick results.

Read More: Develop Custom Financial Planning Software

Future Of Fintech

Fintech apps are already everywhere and they penetrated across all business niches and categories. They are gradually on the rise to replace conventional transactions, payment processing, and banking tasks with smarter solutions. There is no wonder that a vast majority of apps downloaded across both the Google and Apple stores, are characteristically finance apps. Naturally, the future seems all bright for Fintech apps.

The post Revisiting The Promise Of Fintech For Businesses, Startups And Financial Industry appeared first on CMARIX Blog.

But when it comes to unrolling a food business startup, a unique business idea that can cater to the existing market demands can play a great role. These days ordering and getting foods delivered at the doorstep from the favorite local restaurants have already become a successful business model and several different food ordering apps are there in the market now. Before you decide to knock the door of an Android and iPhone app development company India with your new food app ideas, it is always advisable to evaluate the idea and brainstorm all possibilities. This is why we are going to explain here some innovative food apps and startup ideas.

Top Food App Ideas for Restaurant and Food Businesses

1. An App To Track Calorie Consumption

This is the kind of food apps idea which is not entirely new but still offers a lot of room to new startups for growth. A simple app that by using intelligent nutrition charts and algorithms can quickly tell you about the calorie you consumed after every meal or can give you the breakup of calorie consumption with every serving, can really have a revolutionary impact on our healthy eating habits.

If you think such an app is only for fitness freaks and extra health-conscious audiences, you are terribly wrong. In fact, such an app can help nutrition experts and medical caregivers while coming with a diet plan for the patients. But remember, instead of a regular food app UI/UX, such an app requires more clarity and effortless interaction to the calorie counting easier.

2. A Food Coupon And Discount App

This is another novel app idea that has a lot of possibilities to grow and find an audience in QuickTime. A food coupon or discount app can simply send you alerts whenever a restaurant is offering a good discount or any coupon available for free food. Promotion of restaurants take place throughout the year and food are often sold at half the price to lure new customers but many of us just remain uninformed and miss those lip-smacking deals. This is where a food coupon or food discount app can offer a win-win situation for both the customers and the food business.

3. An App For Booking Restaurant Tables

Booking a restaurant table in advance is never difficult if you have the contact details of the respective restaurants or can book them through the food ordering app. But in peak season across many popular cities, this becomes a big challenge. If you are a traveler with an uncanny knack for tasting new food delicacies in every trip, a remote and advance booking facility can save you a lot of time. Such an app can also partner different food chains and restaurants and offer lucrative rates and discounts for its customers.

4. An Experimental Cooking App

When you are almost ready to go for a new food ordering app that would compete with the Swiggy or Uber Eats and just prepared your mind to hire Android developers or iPhone app developer for evaluating the project along with budget considerations, a simple and innovative concept of an app for preparing your own experimental dishes at home can appear as a novel idea.

An app based on the ground rules of various cuisines and culinary traditions and the use of food ingredients can help you create experimental dishes. This is an idea a vast majority of food startups yet now couldn’t make successful and hence there’s almost little to no competition to an idea like this.

5. A Food Planner App

Many of us follow the dietary guidelines and food charts to keep ourselves healthy. What about unrolling a new food planner app that can guide us about our choice of foods for different health and fitness considerations? Well, a food planner app can help you select from a whole range of dietary plans and food regimes based on different clinical considerations. A food planner is also likely to have detailed nutrition chart referring to different food items.

A food planner app built for multiple OS platforms can ultimately help to create a variety of food regimens based on nutrients, availability, taste, preferences, and other clinical considerations. Apart from the users, such an app can tremendously help medical experts and nutritionists in catering to a variety of food consumption needs.

SEE ALSO: How to Outsource App Development?

6. An App To Supply Leftover Food To Poor

This is really a novel idea in the true sense of the term. A business startup can simply be launched to supply the leftover foods of the restaurants to the poor and homeless population of cities. As homeless and poverty-stricken people are rapidly increasing across many cities, the idea can really initiate a social movement benefitting the have-nots.

Question is, what would be the business model behind such a startup and app? Well, such an idea can find many takers in the industry and corporate circles. An app founded with a benevolent idea like this can always partner big enterprises for operational costs. For an initial investment to build such a restaurant app, crowdfunding can also be a credible way out.

7. An AR App To Explore Restaurants

How many times did it happen that you simply declined to book a restaurant without knowing the interior ambience? On the other hand, how many times it happened that you simply found a restaurant too interesting simply by the impressive interior? Well, dining at restaurants, especially in your cherished tours is not just about savoring foods but also about relishing the ambiance.

What about coming with an Augmented Reality app that helps you experience the lively ambience of different sought-after restaurants across cities and travel destinations? Well, such an idea can really win the hearts of millions of travelers who always like to have a foretaste of the atmosphere they are moving in.

Conclusion

Obviously, there are several other unique and never-before ideas that come to mind for a promising food startup app. But as far as giving you an idea of how new startup ideas can help you start an exceptional food app business, the above-mentioned can serve as good references.

The post 7 Food App Ideas That Can Win You Big Restaurant Business appeared first on CMARIX Blog.