The Easiest Way To Launch An On-Demand Solution

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

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

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

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

Six Steps To The Easiest On-Demand Solutions Launch 

Conduct the Necessary Market Research

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

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

Your Definition of Success

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

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

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

Go Cross-platform and Multi-version for Your App

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

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

Get the Right Solution Partner On Board

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

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

Establish User Documentation and Guides: 

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

Revise and Reroute

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

Wrapping it All Up:

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

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How to Ease the Burden of Operations in an On-Demand Solutions Industry

The COVID-19 pandemic has ushered in a new age of on-demand customer experiences characterized by unprecedented speed and efficiency. As customers around the world grow to expect immediate provisioning from their product and service providers, the on-demand economy continues to flourish. In fact, according to a recent PwC report, the market value of the on-demand app economy is expected to reach a staggering $335 billion by the year 2025. 

With the overwhelming growth of the on-demand economy promising to create better business opportunities, the burden now lies on the Operations Team to achieve the necessary speed and accuracy for each delivery. The heroes working in Operations are solely expected to handle numerous issues that may arise in the on-demand business. This leaves them with a sense of ineffectiveness as challenges pile on. To lessen the burden of the Operations Team and enable them to make proactive decisions, sophisticated on-demand applications that integrate adequate technologies are a necessity.  

On-Demand App Development Overview

For organizations aiming to enter and flourish in the on-demand economy, a well-crafted on-demand application is fundamentally integral. According to the U.S. Census Bureau’s American Community Survey, American consumers spend approximately $57.6 billion in the on-demand economy annually. These numbers highlight the immense recent growth of the on-demand industry. It is clear that massive value can be generated by developing a successful on-demand application.

An application developed for the on-demand industry requires a host of unique features depending on the exact service. Besides a visually appealing and friendly user interface, an on-demand app essentially requires order tracking features, a detailed map, order history, vendor profiles, recommendation engines, push notifications and multiple payment gateways for ease of use. Since monetary transactions are at the core of such applications, strong cybersecurity features are also a requisite. Other features such as reviews and ratings and in-app chatting further add to the appeal of on-demand applications. 

To additionally ease the duties of the Operations Team, a real-time analytics feature to manage fleets is integral. Customer experiences are at the forefront of the on-demand industry. Thus, the Operations Team is expected to provide immediate solutions and unparalleled efficiency. A constant feed of relevant information can be leveraged to make real-time decisions, adding to the overall customer experience. Being able to analyze routes, traffic patterns and possible shortages in real-time can be a much needed feature to thrive in this industry.

Catching Up With Costs

The cost of developing an app for the on-demand industry is largely determined by the hours of work needed and the functionalities required. A custom on-demand app is widely expected to take anywhere between 2,670 – 3,720 hours to fully develop and deploy. The hourly rates in the U.S. for developing such applications range from $100 to $250 an hour. Hence, developing an on-demand application tends to be more expensive than the average software solution.

Globally, developing an on-demand solution application can cost anywhere between $53,400 for a single platform project to $930,000 for a refined cross-platform application with a plethora of features. Advanced technologies such as real-time insights, recommendation engines and in-app payment gateways take substantially greater time to be integrated into an application but are essential for large scale on-demand apps that cater to wider audiences. Sophisticated technologies, in terms of real-time insights and hyperlocal analytics in particular,  have grown in prominence during recent times as speed, accuracy and efficiency become paramount characteristics for an enterprise in the on-demand market. 

Guide to Creating Your On-Demand Business

Launching an on-demand business application requires you to follow a number of steps. The process includes designing the application, analyzing the market for opportunities, development and implementation of the app and then finally QA testing and stabilization. A few key imperatives are as follows.

  • Choose Your Market: The on-demand industry consists of a broad range of subdomains covering fields such as food delivery, retail, healthcare, groceries, cosmetics and taxi services. Before you enter the on-demand economy, identify your niche market and integrate the particular necessary features. 
  • Identify the Target Audience: As per an HBR report, nearly 49% of on-demand service users are Millennials. The age group between 35 and 54 make up another 30%. Your on-demand app has to appeal to the audiences most likely to use your products and services, especially the Millennial population that dominate the on-demand customer base.  
  • Start Locally: To create a successful on-demand application that is not only aesthetically pleasing but also successful, you have to begin at a local level. By catering to a smaller area and a denser population , you can test concepts, strategies and advertisements. This also allows you to test features individually and start with an MVP.
  • Find Your Features: As discussed earlier, the features you decide to include in your app are determined by your overall product and service portfolio. For a taxi service such as Uber, advanced solutions like real-time insights, traffic data, dynamic price calculations, fleet tracking and route optimization are all essential. The same features may not be necessary for a small scale cosmetics delivery application. 

In Conclusion

In today’s on-demand world, the pressure to provide quality services is unrelenting. With ever-growing customer expectations, it becomes increasingly difficult for the Operations Team to provide accuracy and efficiency. Developing an on-demand application can be the optimal strategy to ensure your Operations Team has a strong backbone. Such applications enable your organization to thrive in this blooming new industry. By leveraging modern advancements with real-time, data-driven insights and integrating these features into a comprehensive application, your enterprise can scale up to reach unfathomable possibilities.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Clutch Celebrates iView Labs as India’s Top-Notch App Development Partner for 2022

This 2022, iView Labs will reach its tenth anniversary in the industry. Based in Ahmedabad, India, our team is passionate about helping our clients develop state-of-the-art products and experiences. In the span of a decade, not a single day passed that we lost our passion or commitment. We’ve remained unfazed because we love seeing our clients’ success and appreciation.

It’s because of our clients’ trust that we commemorate a wonderful milestone today. Just recently, iView Labs was officially ranked among India’s B2B leaders on Clutch! According to their esteemed Leaders Awards, our team is one of the highest-ranking app development partners in the country this 2022!

“This brings a lot of faith to us, we have been in the system and businesses of Tech with the right mindset to serve the customers with the right tech. This justifies the same.”

— Chief Executive Officer of iView Labs

For those who aren’t familiar with them, Clutch is an independent B2B review website designed to help browsers navigate different markets and industries. Every year, the platform takes a moment to spotlight the dedicated and outstanding leaders from all across the globe. One of the factors for these awards is client testimonials. The gracious reviews and honest feedback given by our clients helped us earn this incredible award.

It wouldn’t be right if we didn’t give credit and thanks to the people who played important roles in making this a reality — our clients, stakeholders, and teammates. iView Labs is proud to be where it is today because of your support. Thank you so much to everyone! 

Rest assured that our team will continue to put our best foot forward to deliver astounding results. Want us to become a part of your growth journey? Get in touch with iView Labs today and tell us more about what you have in mind. We can’t wait to work with you this 2022 and beyond.

To get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Why Every Finance Institution Has to Be a Fintech Institution

“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese.” 

~ Chris Skinner

A study conducted by the American Bank Chase highlighted that 4 out of 5 customers prefer managing their money using a smartphone instead of going to an actual physical bank. As modern technologies, ideas and inventions shape the field of finance, the financial institutions that continue to resist this inevitable force are sure to get swept away. Advancements such as artificial intelligence (AI), blockchain and the Internet of Things (IoT), mixed with an extremely volatile market and ever-changing customer demands, all play a critical role in redefining the services provided by financial enterprises. 

Fintech symbolizes the harmony between finance and technology that is changing the way we transact everyday. Fintech app development and fintech mobile platforms have become globally trending topics. As customer expectations increasingly hover around technology-led services, any bank, insurer or asset management organization looking to stay relevant and thrive in the market needs to become a fintech institution. 

Fintech Application Development

Finance companies aiming to compete in a highly digitized environment need to promptly develop and integrate fintech applications into their line of services. The ability to leverage devices such as laptops, tablets or smartphones to perform financial tasks and transactions has immensely shaped the modern user experience of the finance industry. 

A research conducted by Finder.com predicts that approximately 78% of the United States millennial population will become digital banking users by the end of 2022. Furthermore, a study published by The Fintech Times suggests that the mobile contactless payment market will rise by 40% to reach a staggering $3.516 trillion by 2023, further increasing to $4.6 trillion by 2025. These numbers strongly suggest that fintech mobile app development should be at the forefront of every finance institution.

Fintech applications can refer to a wide range of products; banking applications that allow money transfers and bill payments, stock trading platforms, loan apps and even applications with an integrated payment gateway system are all fintech subdomains. The cost of developing a basic fintech application with a simple user interface generally ranges between $30,000 to $50,000, a potential bargain given the limitless heights this industry is expected to reach.  

Starting a Fintech Application Development Company

In our post-pandemic era, the fintech market continues to grow year-on-year as digital money management, transfer and payment options gain greater relevance. According to a recently published Promontory Interfinancial Network survey, 76% of 543 senior management professionals in traditional banks fear the emergence and widespread acceptance of financial platforms such as Apple Pay, PayPal and Venmo. With the global economy embracing the wonders of fintech, now would be the ideal time to enter this blooming industry.

When you start your fintech company or begin developing an application fit for the fintech economy, there are a few integral steps that you have to adhere to.

  • Study Rules and Regulations: The fintech industry is heavily regulated by a number of complex laws, limitations and requirements. Being a part of this economy requires you to be well versed in privacy laws such as GDPR, the ePrivacy regulation and CCPA according to the state or country that you wish to provide your services in. In the modern fintech industry, there are a number of compliance practices such as PCI DSS (Payment Card Industry Data Security Standard), AML compliance (anti-money laundering), KYC compliance (know your customer) and digital signature certificate that need to be considered as well.
  • Discover Your Niche: The fintech economy consists of a plethora of subdomains ranging from cryptocurrencies and blockchain solutions all the way to simpler personal finance apps. Choosing the correct niche according to the audience you wish to target can be the optimal strategy in finding success in this industry.
  • Choose the Appropriate Tech Stack: After you decide on the type of service you wish to provide, the next integral step is choosing the appropriate tech stack to get you started. Deciding upon the programming languages, frameworks and databases heavily dictates the overall cost and time required for development.
  • Embrace Modern Advancements: AI is tipped to power 95% of all customer experiences in the next decade. Similarly, blockchain business value is expected to surge to over $3.1 trillion by 2030. Embracing these wonderful technological marvels is integral to fintech companies looking to leave a permanent mark in the industry. The future of fintech lies within these advancements.
  • Provide Personalized Services: The fintech market is largely dominated by software powerhouses such as Microsoft, Stripe, Paypal and Venmo. In order to succeed amidst this competition, personalized services to your audience can become a competitive edge. Newer companies such as Mint and Robinhood have focused on carefully crafted experiences and convenient applications for their target audiences in order to gain relevance in the industry.
  • Ensure Optimal Security: Security is the single most necessary feature for a fintech application. Since these platforms deal with large sums of money, customers expect their transactions to be fully secure. Aspects such as data protection and safety can be ensured by utilizing encryption techniques and cloud services.
  • Look to Constantly Improve: To initially test the waters, it can be a smart idea to develop and deploy your minimum viable product (MVP). This basic version of your app can be used to gather public feedback and recommendations. Constantly improving upon this basic product can yield immense benefits.

Key Takeaways

The future of finance is predominantly governed by technology. As modern advancements sweep across the finance industry, embracing this inevitable change is the only way to stay competitive. Transitioning from legacy systems to sophisticated technology-enabled fintech companies is critical for every finance institution. 

With smartphones, laptops and tablets taking over all age segments, developing fintech applications and fintech mobile platforms has become a necessity. Customers demand increasingly fluent digital experiences and catering to these demands is the only way to remain relevant. Ultimately, this technological boom in the finance economy can provide immense opportunities for enterprises aiming to leave a mark, but those who continue to ignore this change are the ones to surely be left behind.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

RPA is the key to Fintech Industry growth

Introduction:

The fintech sector is observing a rapid change with the expansion and maturity of computer processing capabilities. Now information technology can provide advanced software that can perform human-like tasks. To mitigate the scarcity of skilled resources and boost efficiency at minimal cost, the banking, financial services, and insurance (BFSI) organizations are now ready to adopt the latest offering of the automation technology – the Robotic Process Automation (RPA).

As per the global fintech giants, RPA is the convenient choice and mandatory for the industry to take a competitive advantage. As claimed by Gartner, in 2022, the estimated market value of the RPA solution is $2.4 billion, which was $250 million in 2016. And it is forecasted to grow at a CAGR of 33.6% from 2020 to 2027.

What is RPA in banking, and how does it work?

Robotic Process Automation is an automated software that is used for automating different repetitive process flows within the company. In the banking and fintech sector, this specialized software is used to perform recurring, rule-based, and high-volume tasks. 

In the fintech and banking industry, RPA follows a predetermined workflow that provides a guideline to the software robot on what steps to follow precisely. This software understands the proper keystrokes, follows the provided roadmap, and runs the required programs automatically to perform necessary tasks. Several banks and other financial institutions currently utilize RPA in customer KYC, account opening, processing client requests, and other repetitive tasks.

Benefits of RPA in the fintech industry:

There are several reasons behind the success of Robotic Process Automation in the fintech industry.

Comprehensive Insights:

Organizations can get detailed insights into their customers’ needs and the market influencing factor when implementing RPA. These insights are imperative to mark significant growth in this competitive environment.

With the introduction of RPA in business, companies are observing more customer onboarding. This is because there is more time to focus on business development and create attractive and much-needed products and services. Apart from this, RPA is efficient in providing the detailed report of competitors after performing in depth analysis. This can provide you a competitive advantage and through data representation in customized format ease the decision-making process.

Reduced Costs:

Fintech companies are processing vast amounts of bills and invoices every month. A well-programmed RPA can help you save a lot of time and money by automating the invoicing process. Moreover, there is significantly less chance of error compared to humans. Moreover, if taught smartly, these software robots can fill up forms and extract from several banking and financial systems and prepare a financial report in no time.

These all automation are a great money saver for your business. According to studies, implementing RPA in the fintech sector can save 25-50% processing time and cost. Now every sector is striving for higher profit margin and in Fintech, this pressure is more. Financial institutions can generate sustainable profit and mark significant cost reduction through automating maximum processes.

Higher Productivity:

If you want your resources to be more productive and innovative, you need to take them out of the monotonous and repetitive tasks. And the best way is to introduce RPA to perform such activities. You can thus utilize their skills to develop new strategies, foster agile development, and more. These activities not only help to increase their productivity but also encourage them to think out of the box.

Better Compliance:

Banking, financial services, and insurance (BFSI) organizations are set to operate within the guidelines and regulations. Meeting the compliances is a daunting task for businesses, but it is mandatory. A slight misalignment and compliance issue may cause massive damage to the organization.

RPA is a perfect tool for maintaining strict regulations and guidelines. To reduce the business risks, you can perform audit trials of every process through RPA. Moreover, there is no space for errors when the checking is performed by smart software. Even the advanced RPA software can detect fraudulent activities and deactivate the malicious accounts to avoid bad debts. This ensures the enhanced security of customers’ financial and personal data.

RPA Archetypes to transform Fintech Automation:

  •  Robots for verification and validation: Information verification and data validation are important tasks for any financial organization. And a slight mistake can lead to major problems. This automated software can perform real-time authentication and verification processes for external and internal systems. These activities are vital in KYC verification, Customer Due Diligence, and other processes. Such automation can quickly transform error-prone operations into a smoothly running activity.
  • System interoperability robots: As the technology is changing every day, it is imperative to adopt the latest one to stay in the competition. In the way forward, the crucial part is to integrate the legacy systems with the advanced, and a lot of data migration takes place. Integrating (RPA) robotic process automation tools can bridge the gaps and perform the cumbersome data migration task without any error.
  • Scheduled robots: There are several banking events that operate until a particular event occurs. The scheduled automation robots are hardcoded and delivered when it is required. In this way, you won’t miss any deadline or can resolve any issue in a big rush.
  • Data input robots: This type of automation can synchronize the data without much time and labor. RPAs can perform human-like activities in data management like system login, searching the data, copying and inserting the records in the perfect place in an error-free manner. It improves productivity and saves a lot of recurring costs for the business.

Parting thoughts:

The fintech sector is facing tremendous pressure to improve its process, boost its efficiency, and cut down its operational expenses to improve the profit margin. Implementing Robotic Process Automation is the only way to make this sector future-ready.

Many financial institutions have already implemented this intelligent automation as these are quick solution providers, easy to implement, and cost-efficient compared to large-scale transformations. If properly implemented, RPAs can offer huge benefits, and this is the call of time for the banks, fintech, and other financial entities to adopt RPA into their solutions.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Global Distribution System:  A Much-Needed Enrichment To Global Tourism

If you’re an ardent explorer and frequently plan trips to new destinations, then you are likely to be a user of the Global Distribution System (GDS). Alternatively, if you are someone who offers to assist people in planning their travels, well, you ought to be using a Global Distribution System. No matter which end of the spectrum you’re at, you must know what the GDS is.

A Global Distribution System is a computerized network system operated by an organization that allows transactions between the tourism industry service providers, particularly airlines, hotels, car rental companies, and tourism companies.

The GDS ensures that visitors find what they’re looking for easily, regardless of where they are located in the world. Considering how travel data can be dramatically scattered across the internet, the GDS makes it simpler for tourists to plan their trips and find the best deals on their desired hotels and tourist attractions.

The Inception of Global Distribution Systems

The roots of GDS can be traced back to the 1960s when different airline companies started using sophisticated and fairly new methods of communication to monitor and schedule flights or check seat availabilities, and prices. American Airlines (AA) was the first company to develop a real-time computerized reservation system (CRS) in a joint venture with IBM. The SABRE  (Semi-Automatic Business Research Environment), one of the first CRS, was launched in 1964 and helped process nearly 26000 transaction requests per day.

Soon, several other airlines and travel agents joined the bandwagon. The advantage was clear- the ability to cater to bookings from a geographically dispersed market! And that’s how the foundation for GDS was established.

What makes the modern GDS different from the traditional reservation system?

We’ve come a long way since the early years of the inception of GDS. Originally, it was created with the intent to be used by travel agents to provide the best possible alternatives to their clients. However, as the customer 2.0 has changed its behavior, so has the GDS module. Today, it has transitioned into being customer-centric, thanks to the DIY and self-service model which gives the user complete autonomy. In an omnichannel approach, the GDS is highly adaptable as per the preferences and choices of the customers to provide them with intelligent suggestions and customized options. But how does this work?

In retrospect, a CRS is mainly used by respective vendors or sellers, GDS was used by travel agents to be able to track consolidated views from different vendors. GDS holds no inventory but simply has a real-time link to the vendor’s database; this is how Agoda or Booking.com tells you whether your favorite hotel has any rooms left for the selected dates.

Connecting providers of tourism services on one end and consumers on the other, the global distribution system is a neutral interface creating a global presence in both supply and demand.

What does this mean for service providers in the travel and hospitality industry?

Travel sites and apps are the modern avatars of a travel agent. The objective remains the same – provide a convenient, seamless experience to the customers catered to their preferences. The preference could vary from location to duration, to budget, and more.

●      The number of bookings completed by a GDS generally outnumbers the direct bookings. While direct bookings are on the rise, people still prefer to pursue their alternatives and best deals using a GDS.

●      Hotels rake in more revenue through a GDS because it acts as the central point for customers to compare prices across multiple channels rather than verifying it themselves.

●      Travel agents can now successfully book corporate travel packages via GDS to have their clients accommodated swiftly.

●      Hotel managers can uncover new market avenues to promote their offerings.

For a new entrant in the travel and hospitality sector, the GDS becomes the backbone based on which it builds its service. However, what differentiates various platforms from each other is the comprehensiveness and quality of GDS integration. But do you know how a GDS is behind the scenes?

Ideally, the booking engine deployed should be able to allow a single search against multiple data providers. It should be connected via the latest APIs, GDSs, and consolidators. The GDS uses its deep learning algorithm to find all the listings of particular hotels, flights, or bookings to cross-check based on the rates stated across sites.

If you’re a travel business, you should also consider the integration of a CMS-based travel portal that allows your team to update your site’s content without recurring technical assistance. In a world where global tourism is expected to see a boom again, multiple languages and currency support become a must, notwithstanding integration with multiple geography-specific payment gateways.

The Way Forward : Future of GDS

Travel agents and booking platforms have seen the tremendous benefits that come with working with a well-implemented global distribution system. By using a system like this, agents and platforms can easily connect with suppliers all over the world and avoid the hassles and delays that can often occur while trying to negotiate deals directly with individual vendors.

We’ve learned from all major industrial revolutions that it’s always a smart move to leverage evolving technologies designed to meet the demands of the modern consumer. The best-performing GDS systems globally include names like Amadeus, Sabre, Galileo, and Worldspan by Travelport, where we’ll get to see the most growth. Looking ahead, the world is leaning towards automation with the help of conversational commerce.

With the help of deep internet search and technologies like Data Analytics, GDS providers like the ones we’ve mentioned above can improve their algorithm in order to improve customer experience. Moreover, as people are more inclined to self-service, the unilateral platforms can pursue to improve their omnichannel services. Not only does this lighten the burden of travel agents and booking organizations, but also streamlines their operations based on the ever-changing customer behavior.We at iView Labs, have been helping several legacies, as well as new businesses, create user-friendly, efficient, and robust travel and booking portals. As the world of technology grows, our services and solutions adapt themselves to cater to the shifting demands that come with it. With our expertise in Global Distribution Systems, we’re all about improving the progress and streamlined workflows of businesses that partner with us. If you’d like to get on board the GDS revolution, reach out to us today. For more regarding the latest technologies, stay tuned to our blog!

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

No Dream Too Big: How Smart Education Can Change The Lives Of The Underprivileged

“Education is the most powerful weapon which you can use to change the world.”

– Nelson Mandela

The Indian Education System has often been criticized for its inability to reach the population living in the rural parts of the country. The villages and remote towns often lack the infrastructure, such as access to proper classrooms and latest study materials, roads, and electricity, that is required to deliver good quality education As per a report in 2019, over 32 million children had never attended school.. As a result, the potential of this rural population remains largely underutilized – and their dreams, untapped.

However, while the existing education system struggles to reach remote areas, a new and “smarter” revolution has already begun to plant its roots. Thanks to the spread of digitisation, the internet and broadband services, rural India now has greater access to educational material from across the globe. Not only can the students access public libraries on the internet, but also enroll for digital/virtual courses that bring the classrooms to them.

Digitisation: A Boon To India’s Rural Classrooms

While rural India constitutes for more 50% of the country’s workforce and is the largest contributor to its economy, the facilities made available to them remain negligible. Schools in remote villages often require long travel which is a  highly unfavourable condition for children to pursue their passions in. As a result, most parents decide that it is not worth the hassle and discontinue their child’s education. Even the schools that manage to overcome this roadblock, often have to make-do with facilities and teaching methodologies which are sub-par or outdated.

The spread of the internet and mobile technology has proven to be a boon to the situation. India holds the second-largest mobile phone user subscription base in the world, with over 900 million mobile phone users. This means that mobile phones are available in places where more traditional educational infrastructures are yet to find their feet. This opens a window of opportunity for institutions to deliver education to the students who need it the most, hence providing some much-needed support to India’s crumbling educational infrastructure.

Harnessing The Power Of Technology

Bengaluru-based NGO eVidyaloka has been instrumental in this shift and has been orchestrating sessions in remote villages of India, by creating “digital classrooms”. The social enterprise encapsulates a vision to enable quality education for the children of rural India by leveraging the power of technology. It is supported by a team of passionate volunteers from across the globe, ranging from homemakers to retired professionals who commit to delivering high-quality education to these children living in some of the most remote villages of the country. The focus is largely on children aged between 10 and 14 years (6th‑8th grade). Through a powerful partner ecosystem, the organization has been able to offer these children LIVE interactive classes in their local medium.

The organisation was launched in 2011, where it started a wave of change with the introduction of “Computer Teachers” in village classrooms. Today, their classrooms hold over 6,000 students across Indian Villages, who are being guided by a team of 533 dedicated Volunteer teachers. We need many more such organizations to come up with innovative remote education models to bridge the existing literacy and education divide.

While this was a movement in motion for young children, there are several young girls who discontinue their educational journey at or after 14 years of age. Most of the rural development programs provide basic education- but what happens to over 100 million women of rural India who are missing out on the opportunity to build technical and employable skills through higher education?

A notable name in the world of technological activism in rural areas is Sajhe Sapne. Their initiative comprises measures to ensure that women of rural India get a fighting chance to build a thriving career. By establishing Sapna Centers, underprivileged women who wish to chase their dreams of an aspirational career can now live their dream. The campus provides residential training, day-based college sessions, and online training, based on the preference of the students. Their higher education degrees come in the form of professionally developed skill building courses that equip such women to build careers, not just jobs. Not only does Sajhe Sapne give wings to dreams for women of rural India, but they also arm them with all the digital, english-speaking, and specialised skills to be successful individuals.

A Lasting Impact

Making education accessible to the students in villages can have a lasting impact on the future of India as a country and economy. Digital classrooms compensate for inconveniences such as traveling long distances, further minimising the risk of discontinuation. These classrooms also help alleviate the discrepancies in the quality of education that can be accessed by rural and urban populations. This means that in the long run, students from rural backgrounds would be just as equipped to join the global workforce.

Additionally, better education will also expand the population’s exposure to new techniques and methodologies which can enhance life in various ways. For example, a large portion of the village population relies on agriculture as a source of their income. However, their reliance on traditional methods of irrigation limits their capacity to prosper from it. The exposure gained from high-quality education can help these farmers learn about the latest innovations from around the world and leverage it to improve their standard of living. To put it simply, the future of the rural areas depends on how well digitized modes of education can help reform the youth’s mindset through changing times.

A digital classroom brings with it a promise of growth and prosperity for the average rural household. This can’t be considered a “leg-up” but an evening of the playing field- A straightforward solution that can help empower these populations to explore new horizons and dream big with no limits!

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How Blockchain Manages Data?

Introduction:

Blockchain technology is nowadays snatching the attention of every digital and print media. With the increasing popularity of cryptocurrencies, the technology behind them is also attracting the tech-savvy world. Though blockchain was initially invented to develop bitcoin, its immense usability in other aspects is now attracting several industries, from healthcare to fintech. 

Nowadays, data is the most valuable asset. Technology experts and data scientists have observed that one of the most viable usages of blockchain is in the data management sector. And the most exciting aspect is how blockchain helps make data management more secure and efficient. Let’s have a look.

What is blockchain?

Blockchain is not as easy as it sounds. But in a simplified form, we can explain blockchain as a distributed and decentralized ledger or register where all the transactional records are stored in a structured format in a database. Blockchain is an amalgamation of two words, “Block” and “Chain.” “Block” represents the transactional records or data, and “Chain”- which is a combination of database networks connected through peer-to-peer nodes. It is a highly secured “digital ledger,” unalterable, and can be shared within the network like we use Google Docs. Anybody in the network can see and modify it, but all the activities are tracked in real-time.

In the blockchain, it is vital to understand that you cannot transfer the data but rather distribute the information among all the interconnected devices, also known as nodes. That’s why blockchain has a permanent record of every transaction and information, making it the most secure data management platform.

Why use blockchain for data storage?

The current problem:

The traditional data storing concept is mainly concentrated on cloud storage. There are some advantages to using the cloud for storing massive amounts of data. But it also brings several problems for users in the data management which are

Low security: The major disadvantage of the current data management system is that all the information is located on a centralized platform. This increases the risk of data vulnerability. 

Mutability: Another drawback is during the transaction, the data is not encrypted, which makes it easier for hackers to tamper with the data. 

Unclear Traceability and Authenticity: The current cloud system cannot offer any robust process to trace the source of the breach. It always raises the question of the authenticity of the data.

With the use of blockchain:

  • The data is stored in a decentralized manner where every involved party can control the data. 
  • Blockchain offers transparency of the data, which is visible to everybody.
  • Blockchain provides tamper-evidence of the data. When a datasheet or information is changed, the blockchain captures each and every transaction, which you cannot delete.

How is data stored in a blockchain?

Data storing in the blockchain system takes place by using decentralization and cryptographic hashing. Blocks are the units or primary building components of a blockchain. Putting one block upon another generates a chain of blocks containing a data link system. Let’s have a step-by-step look.

Step-1: let’s assume that the blockchain is a wall of bricks and the starting brick on the base is the initial block for the blockchain.

Step-2: The next block stores the information about the unique hash of the previous block.

Step-3: The block stores the data and information inside it, and a hash is generated for the unique data.

Step-4: Likewise, every block preserves unique data, and therefore, a different hash is generated for every block.

Step-5: Now, if any change occurs in any data, it triggers a change in the hash key of that block. This changed hash key now cannot be fitted with the next block of the chain, and therefore, consecutive change in the data of the next block is required. 

Step-6: This function triggers a simultaneous change in every block of the chain, which ultimately restricts the overall tampering of the information in the blockchain.

Benefits of blockchain for data management:

Protection of critical data: 

With the advent of digital revolution, the number of cybercrimes has also drastically increased across the globe. And there is a good reason for everyone to be worried about the exploitation of their personal data. According to the Cybercrime Magazine, by 2025, cybercrime will cost $10.5 trillion per year worldwide. Hackers are not only targeting the giant organizations, but also MSMEs are getting affected by cyber-attacks. 

Stringent security measures like implementing blockchain technology can provide considerable security to the data at every level. Though it is not full proof, the chances of data breach can be reduced significantly.

Data quality:

As we are moving into a data-driven world, which is more important is the quality of data. Every organization analyzes a giant pile of data for their business growth. And if the study is done on poor quality data, it may lead to destruction. 

In the blockchain network, every piece of data is analyzed and cross-checked thoroughly before adding it to the next block. This extra layer of scrutiny ensures that the information must have superior quality or the data get rectified before passing on to the following receiver block. Gartner says that organizations will have 50% more high-quality data in their system through blockchain smart contracts.

Data Traceability and transparency:

Traceability and data transparency are now essential for every industry to grow in the competitive market. In Healthcare, food, manufacturing, pharmaceuticals, and the supply chain, every industry is struggling to get complete visibility of the data and track it on a real-time basis. To meet the high customer expectation of minimum lead time, organizations are now able to improve their efficiency by implementing blockchain in their system. Through blockchain in the supply chain, all the stakeholders can securely access the shared ledger data without any fear of tampering.  

Critical data Sharing:

Data sharing without fear of losing or tampering is a tough job. The legacy systems do not provide this facility, and here comes the blockchain application. Through its decentralized nature, blockchain allows to share information to every party involved. Interestingly, by its inherent nature, everybody with a permission can see it but cannot alter it, making it more trustworthy.

The Bottom Line:

Recognizing the exceptional benefit of blockchain technology in data management, organizations are adopting it very fast. With the increase in internet usage, the chances of a data breach will also shoot up. Before it is too late, it is vital for businesses like you to implement this most advanced, highly secured, and efficient technology.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

What is the Role of Technology in Healthcare?

Healthcare is a sector where there is great scope for technological innovation. Due to its essential nature, the healthcare industry is only going to grow, and the demand for technological solutions to refine healthcare systems and processes is only going to expand. In addition, new and exciting developments in fields like communications, data analysis, biotechnology, blockchain etc., can help hospitals and doctors provide the best and most efficient solutions to patients.

In this article, we’ll be discussing some of the emerging trends related to the role of technology in healthcare. 

Big Data Analysis

Due to the extensive increase in the need for medical facilities in recent days, integration of big data analysis in the healthcare industry has become very important. 

Due to extensive increase in need of medical facilities in recent days, integration of big data analysis in the healthcare industry has become crucial. Some of its applications are:

Efficient hospital staffing: By studying the past and present admission rates, hospitals can estimate the future admission rates. Based on this, they can take decisions as to how many staff to hire and which facilities they should be assigned to.

Error-proof medication: Data analysis systems can flag any errors or inconsistencies in the treatments or medicines assigned to the patient by studying patients’ medical history. This will be a failsafe against mistakes made by the hospital staff.

Preventive care: Again, by analysing patients’ medical history, systems can detect the early symptoms of any medical conditions so doctors can treat them before they reach the serious stage.

Wearable Medical Devices

Wearable medical devices like pacemakers, fitness trackers etc., are a burgeoning part of the healthcare market, and they are expected to form a 27 billion USD market by 2023. Examples of wearable devices are heart rate trackers, calorie trackers, oximeters and fitness trackers. These devices provide medical information about the patient in real-time and can provide advance warning of major health issues. 

Fitness trackers give the patient a sense of responsibility and give them control over their own health. Since they can directly see their activity level, they are encouraged to exercise more to reach some tangible goals. By adding rewards, alerts etc., these trackers “gamify” the fitness process and make it less of a chore for patients.

Virtual Reality Tech

Some doctors are using VR tech to provide relief to patients with chronic pain issues. Since pain is felt in the brain, distracting the brain with VR or other engaging tasks which require a high level of participation and interest from the patient can reduce their pain levels. 

Another application of VR tech is in reducing the anxiety levels of patients who are about to undergo surgery. By distracting the patients through virtual reality, doctors can take their thoughts away from the impending surgery, thereby reducing stress and anxiety levels and improving mental health and wellness.

Apart from helping patients, VR tech can help doctors hone their own skills. For example, doctors can rehearse complicated surgeries in virtual reality and get a better, immersive understanding of the internal arrangement of the human body, including even the smallest organs. 

Blockchain

Blockchain is a major milestone in the field of encryption technology and data security. Keeping the patients’ medical records secure and private is very important for healthcare facilities. This information must also be shared between hospitals when patients are transferred from one facility to another. Blockchain in the healthcare market is estimated to be worth almost 900 million dollars by 2023, showing that hospitals are starting to understand the value of this technology. 

Vendors like BurstIQ and Medicalchain are working to apply blockchain to the healthcare sector. They empower patients to have control over their medical records and are helping hospitals to store, organise and transmit patients’ medical information safely.

Telehealth

Telehealth and online medical consultations have come to the forefront of the healthcare sector due to the restrictions on in-person interactions imposed by the advent of the Covid-19. Even without the pandemic, telehealth comes as a boon to those patients living in remote or rural areas who can’t often travel to the doctor or patients with severe mobility issues (e.g. patients who use wheelchairs or patients suffering from neurodegenerative diseases) who can’t easily leave their houses to visit the doctor. 

Another use case is for patients suffering from contagious illnesses. Despite all the precautions that are taken, there is still the possibility of them spreading the disease. Again, telehealth can be used to treat these patients remotely.

Conclusion

Technology will definitely play an ever-increasing role in healthcare in this new digital age. From empowering people to ensure their fitness, protecting patients’ privacy and medical data, and helping hospitals make more efficient decisions vis a vis staffing and treatment, technological innovations can help doctors and patients in more ways than one.

iView Labs believes in bringing a better version of the healthcare industry at your call, we have a versatile team of developers and consultants to assist you to meet all the innovations you are planning for your healthcare business.

If you are interested in learning more about how to avail of these services, visit www.iviewlabs.com or write to us at sales@iviewlabs.com in case you have any queries. You can download our latest portfolio to get to know us better.

How Estonia is Creating Waves in the Field of Healthcare / How Estonia is teaching the world a lesson in digital health

Estonia has come to be known as a digital-first nation providing its citizens with solutions such as i-voting and e-residency. Furthermore, it has been in the vanguard of digitizing healthcare too. With a population of just 1,328,046, this small EU member is spearheading the digital healthcare phenomenon.

 A favorable place to do business, Estonia welcomes people from all walks of life, due to its agile methods and openness to innovations. It has become the playground for several tech tycoons and healthcare investors. Today, Estonia ranks first in the Digital Health Index with an incredible e-health score of 81.9. It set high standards for Electronic Health Record systems (EHRs) and the rest of the world is anticipated to soon follow suit.

The emergence of Coronavirus was a pivotal phase in Estonia’s Electronic Health Record systems (EHRs) coming to the limelight. While most countries struggled to cope with the outbreak, Estonia’s digital health record systems made it easier for medical practitioners to devote more time to help combat the deadly virus.

Let’s take a closer look at how Estonia is embracing digital life and paving the way for a more comfortable and convenient healthcare system. 

A national database of digital medical records
Almost all of Estonia’s hospitals and doctors have digitized their patient data, allowing citizens to access their medical records with relative ease. There are close to 40 million health documents in the e-Health system. This straightforward procedure has sparked interest, with Denmark and Spain following suit. The EHR system benefits both patients and doctors because it saves time and allows for quick and precise diagnosis.

E-ambulance service at your fingertips

Another advantage of the EHR system in Estonia is the availability of e-ambulance services, which detect the position of the person seeking aid within 30 seconds, resulting in a faster turnaround time for treatment.  It also provides the medical personnel to view the medical records of the patient they are about to save. This enables on-the-spot treatment depending on the person’s previous medical history.

Hassle-free e-prescriptions

Another important digital solution that Estonia has mastered is e-prescription. A warning notice is issued when a doctor recommends a prescription that may interfere with the current medication a patient is taking. The doctor can then recommend a different treatment to avoid side effects or any other potentially dangerous medical scenario. The technology also generates e-prescriptions, allowing patients to obtain re-prescriptions based on the doctor’s recommendations without having to visit the hospital.

EHRs a reality or a pipe dream for India?

In the healthcare sector, India is still developing and needs to speed up the digitization process. Public-Private Partnerships (PPPs) have become a crucial facet of healthcare, and the government is slowly but steadily looking into them to provide its residents with the best-in-class healthcare facilities.

There are various obstacles to overcome on the way to making EHR a reality in India. Here are a few: 

  1. An expensive affair
    Hardware, software, employee training, network fees, and maintenance can all seem a bit pricey in the beginning.
  2. Data leaks
    Indians are still hesitant to share their personal information because they believe that data leakage is a major worry.
  3. Data migration
    Converting data from paper to digital records is a difficult undertaking.
  4. Training of medical personnel
    Doctors will need to devote additional time to learning and adapting to the new system.
  5. Lack of technical guidance
    Another issue that private and small health facilities confront is a lack of in-house technical assistance to ensure that EHR systems work smoothly.

What can India learn? 

For the health record of any individual to be of clinical value, it needs to cover the various staged of life along with every clinical encounter that the person underwent throughout these stages.  It hence becomes critical for the records to be available, in a chronological order to provide a summary of the various healthcare events throughout the life of the patient. 

India is still in the early stages of implementing EHR systems. India can successfully integrate EHR systems in the future if it focuses on the following factors:

The PPP Way:  A higher level of public-private partnership is required to address infrastructure shortcomings in the healthcare delivery system. The commercial sector must be aware of public health issues, as these will have an impact on healthcare’s overall success. The private sector has the ability to bring in massive quantities of money to build world-class healthcare facilities for the general public. Simultaneously, the public sector can provide the necessary subsidies and accessibility. To attain universal health coverage and offer high-quality care at a reasonable cost, PPP employs a high volume, low margin strategy.

Personnel Training: Transitioning from legacy systems to newer ways of keeping records could be challenging in the beginning. Doctors and healthcare personnel must be properly trained in order to be able to leverage the advantages of this system. It may appear time-consuming at first, but in the long term, it will save time and provide a more open and simple manner of dealing with health issues.

Uniformity: In order to ensure health records across systems, organizations and institutions can seamlessly sync with each other, certain homogeneity is required in the way the records are stored. Guidelines have already been established by the Ministry of Health and Family Affairs, keeping in view the suitability and applicability in India. Institutions across the country need to ensure that they comply to these standards to be able to contribute towards the larger objective. 

Security: Maintaining high level of data security to ensure sensitive data of patients is protected is a must. Drawing parallels, there was a lot of resistance to online payments in the beginning, but once the security and privacy concerns are addressed, people have readily accepted digital as a preferred mode of payment. E-HRs will be a similar story. 

The pandemic served as a wake-up call for several countries including India. We are compelled to steer away from the conventional healthcare models to more unconventional ones. E-HR is the next power move promising to uplift the health conditions and healthcare experience of the general populace. From luxury, it needs to become a basic necessity. And to make it a reality, India as a country, needs to learn from many other countries and move at an exponential speed to emerge as a forerunner in the digital healthcare map.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.