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Monthly Archives: September 2016


Are You Ready for The Revolution in Financial Market?

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Recently, I came across to the latest news about Mr. Nandan Nilkeni, a founder team member of Infosys and generator of the concept of Aadhar.

While surfing news, I found his made presentation on the impact of this Aadhar linked cell phones that will surely make and transform the market in general as well as finance market.

After watching his presentation, I was completely amazed and astonished as for how the technology will bring transformation in the world and will change the entire way we live in this world. In his presentation, he showed how technology will impact our daily lives that never happened in the entire history of mankind.

nandan-nilkeni

Have you checked his presentation? In case, if you have missed that essential presentation, let’s a have a quick look on the highlights of it:

  • The telecom revolution has transformed the desktop-based environment into the mobile internet-based environment.
  • The presentation also showed that there will be a gigantic disturbance in financial services on the back of technology revolution.
  • The other important highlight is “WhatsApp Movement” which is the concept to comprehend the revolution as there are more than 30 billion messages in a day that passed through WhatsApp in the world, surpassing the SMS by a large margin. This movement will surely take place in the world of finance, making the whole concept of traditional banking and lending go away.
  • As we all know that gradually, we all are moving from cash-based society to cashless and digital society. Currently, India has 900+ million mobile users that are a record in itself. When we linked the Aadhar with the mobile set with IRIS authentication, it will change the whole world where we live.
  • Moreover, electronic clearing service “NEFT-RTGS and IMPS have overtaken traditional payment system. A big trend is ongoing with more than 900 billion mobile users that we all are unable to catch. In short, we can say that every single mobile user will be an ATM.
  • In addition to this, when the IRIS authentication will begin, all the 900 million mobile users will be allowed to have online KYC, online payment, online receipt, online authentication and more. In future, the smartphone will take place of debit and credit cards, and the systems like Paytm will be completely operational. One of the best things that will happen is physical cash will turn into digital cash and digital cash to physical cash will take place. Moreover, the security system will be revolutionized by the digital wallet and digital locker.
  • There will be a completely new process, leading the innovation and it will also give birth to many new ventures and death of many businesses can also be expected. In next five years, India will surely become data scare to a data-rich country on both consumer as well as the business side. The presentation also highlighted credit process and credit appraisal that will become outdated, and online loan payment will become possible. Just give one though on 900 million people, who will come on one platform and remain connected. Most of the functions of government, back and taxation department will be done by Aadhar linked phones.

Well, all these things are not so far as the IRIS authentication on the smartphone will be started soon practically and it will also become a mass reality soon.  Let’s prepare ourselves to live in the digitalized India, where there will be no paperwork and everything will be transparent and digital.

This entry was posted in Technology and tagged financial market, modern-age, revolution, smartphone, technology on September 21, 2016 by Rakesh Patel.

Top Strategies of Mobile App That Improves Revenues for Small & Mid-Sized Businesses

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These days, mobile applications become the must have for businesses of varied industry according to Global mobile traffic that represented roughly 60% of internet traffic. However, consumers progressively expect an “Amazon-like experience” online.

There are many small businesses, who have not yet come up with an interesting approach for the mobile app; they need to build a great one. Moreover, the fault dishonesties at least partly with small business owners. As per the Research by Clutch, it has been known that less than a quarter of small businesses have a mobile application, and approximately a third are doubtful to build one.

Mobile Strategies of Field-Tested

Do you know that it is a mistake if you see what mobile applications have done for some small businesses? A Pennsylvania-based consignment store ‘Mommy’s Lil’s Rascals has launched an adopted Total Loyalty Solutions mobile application, allowing customers to access a loyalty card program, special events, and exclusive mobile offers.

Providing more information, the company has been rewarded with 1000 downloads, comprising 223 downloads in the first 24 hours – 350+ redemptions, $12000 in revenue and a repetition of sales while their fall sales event.

Elizabeth Sowers, an owner of Mommy’s Lil’ Rascals, says “For us, what really worked were in-store promotions. She also added, “We set out a challenge to employees on who could get the most apps downloaded in one day. Every time someone came to the register, employees would ask customers to download the app. By doing this, we were able to get quite a few downloads for the app each day.”

She came to know that how important it is to have an application for reaching out to her customers. After some time, she let her all customers aware of Mommy’s Lil’ Rascals application through her social media page and Facebook page. She explains, surely, I would commend businesses to make use of push notifications within their application in order to stay in touch with the customer.

There is one restaurant in Mechanicsburg, Pennsylvania that named the Caddy Shack supervises the Armitage Golf Course, introducing the application with Total Loyalty Solutions was the answer.

Karen Blazina, a restaurant manager, says “Were in a bit of an unusual situation in that we are a restaurant overlooking a golf course”. He also added, “We are constantly busy — especially when the weather is nice — and the app has really helped customers know about changes to the menu. For example, when we have a seafood bash, we can add the whole program to the app.”

About using an application, he also cultured some essential lessons. “One piece of advice I’d give to business owners launching an app is to definitely open up with a coupon — this gives a true actual response rate. And, make sure to put the time into the app to make it successful and make sure people know about the app.”

About testing their applications, both the companies have learned important lessons. Blazina of the Caddy Shack explains, “When it came to testing the app, we only did testing internally. Our management and staff checked to see if everything was entered correctly and was functioning right.”

It helped a lot, but that was not enough still. There were some bugs and mistakes, which could have been fixed by testing with an outside vendor.

Sowers of Mommy’s Lil’ Rascals checkouts a similar story. “We found some issues with some different network providers — some were a bit slow and it was a time-consuming process or the app would sometimes unexpectedly close out.”

She said that it should have been a lot better in order to test the applications on varied of network providers before launching it. With an increasing number of businesses, who have been launching these mobile applications and testing for errors and bugs, it becomes essential for businesses as small business owners look for outside suppliers to deliver those testing services. As like they require outside accountants to do their taxes or outside vendors in order to look for insurance.

Matthew Cordasco, a CEO and Head of Product at MyCrowd QA, says “Small businesses may not always have the resources to hire a full-scale QA team, that’s where we come in. He also added, “With our platform, businesses can root out their bugs at 50-75 percent of the cost of doing it in-house, boosting both the speed and quality of their testing.”

With increasing demand for smartphone and smartphone apps, it is must have a well-developed and well-tested application that turns into a highly effective marketing strategy, giving results.

This entry was posted in Technology and tagged app, business, mobile app, revenue, small business, strategies on September 6, 2016 by Rakesh Patel.

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