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Fintech Development Trends that You Must Know About – ReadWrite

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Fintech Development Trends that You Must Know About - ReadWrite


Fintech Development Trends are ever-changing and to keep yourself updated with these essentials. One of the most renowned words – Fintech, is a blend of “Finance” and “Technology.” Here are Fintech development trends that you must know about.

Fintech defines any organization that uses technology to either automate or improve the financial process along with any other services related to it.

Fintech shows the acceptance of people for on-demand finance instead of the traditional slow-paced methods involved with financial management and transactions.

With the blooming of Fintech throughout the world and it’s better and secure ways, financial and banking services have become faster and more incredible than it was before.

From the preceding several years, there have been many new implementations and innovations on the way Financial Technology must work.

It has brought a new Finvolution and by the end of 2020, there will be different approaches and trends of fintech that will blow every person’s mind away.

FinTech Development Trends And Their Effects

You will want to know about these trends and how they are about to affect the way you currently deal with finance. All the latest trends of Fintech will be beneficial for you, no matter how you are involved with it.

1. Blockchain

A blockchain in FinTech offers a more comprehensive, accessible, and secured network for businesses, reduced costs, and efficient service/processes.

Over the years, security and transparency have also increased because Blockchain is a decentralized system. When finance is involved with blockchain, any organization can assure security while saving the cost.

Apart from that, it can also increase the speed of transactional processes amidst banks because of their protected and dedicated servers.

Blockchain will be a great approach for financial institutions as it will provide data integrity and allow full transaction history for the customers as well.

Read Also: Blockchain – A Platform for IoT Solutions

2. AI Adoption

Just like all the other industries, fintech has also concluded AI or Artificial Intelligence in its working.

AI when introduced or adopted by the financial industry can eliminate the cost of operating from banks, credit unions, loans association, and many other financial units.

The AI-based systems when implanted helps in the collection and analysis of data so that an investor can make a better decision on their investment.

Loan providers also use the AI system so that they can offer their services with less to no risk in returns. The AI used by creditors evaluates the applicant’s financial health.

3. Regulatory Technologies

RegTech manages the regulatory processes of the financial industry using technologies such as Big Data, Artificial Intelligence, Machine Learning, Cloud Computing, etc.

As the businesses spend a higher amount of money, they need to acquire the reporting, monitoring, along with compliance that is regularly upgraded by the government.

With the help of RegTech, all the financial institutions can secure themselves from the constant updates in the system because of the changes made in the regulations and laws by the government.

Some of the RegTech offerings that you can easily find anywhere are:

  • KYC (Know Your Customer) Solutions
  • Risk Management Solutions
  • Data Management Solutions
  • AML (Anti-Money Laundering) Solutions
  • Trade Monitoring Solutions
  • Records Management Solutions
  • Tax Management Solutions
  • Reporting Solutions
  • Quantitative Analysis Solutions
  • Regulatory Change Management Solutions

Read Also: Challenges of Adopting AI in Businesses

4. New Payment Methods

When you will look back just one or two decades prior to today, you will find that the payment and transactional methods were as limited as swiping a credit card or signing a check.

Recently, there is a sudden growth in the ways to process a transaction and make a payment which is also the trendiest in the FinTech industry.

These advanced payment methods have helped the users in easy transfer of funds from an account to another with just a few touch of their fingers.

Having accessibility to the mobile wallet or other banking or payment applications has become more convenient for all users. Moreover, by the end of 2020, almost every individual will have access to the contactless cards derived by various banks.

5. Online Banks

Online Banks or Digital Banks are the new initiatives towards Financial Technologies. Let’s think about banks that are only virtually available and do not have physical existence yet the customers get global payment methods.

Also, there are numerous benefits from the virtual banks as neither anyone will have to deal with the different temper of bank teller nor have to wait in lines for completing a transaction.

On the other hand, already existing banks can extend their reach to the area where they haven’t constructed a building yet and save all the hectic and costs effortlessly. However, customers must proceed carefully before opting for any virtual bank.

6. Big Data and FinTech

FinTech Companies use structured as well as unstructured data which is collectively known as Big Data to divide customers, identify frauds to manage any risk factor with ease. These companies evaluate the big data and add certain algorithms to them to make necessary decisions.

By the utilization of Big Data in Fintech, one can easily predict the fraudsters that any human eye can’t.

Analysis of big data assists in understanding the behavior and usual buying habits of the customers and any fintech corporation can detect suspicious behavior of the users that tends to be dangerous for the entire operation of their business.

7. Identification From Biometric

With the continuous growth of mobile banking, one of the major concerns that customers face is the security of their data as well as money. That’s when the Biometric

Identification comes in action for any Fintech Company as it assures the security of the transactions from different customer authentication methods while preventing any kind of fraud.

If you are using any payment application from your phone then you knew that without providing either your fingerprint or password transaction cannot be processed.

Similarly, there will be more such methods in the upcoming years where almost everyone will be using biometric payment methods.

8. RPA or Robotic Process Automation

The addition of RPA in a FinTech institution is quickly becoming the main center of attention. It not only improves the timely value but is also reducing human errors while enhancing the efficiency and accuracy of the transaction, record maintaining, performing queries, or calculations.

Soon every bank or financial unit will indulge themselves in it. So be ready for the most required and amazing transformation to come sooner than later with more opportunities for a better business to financial institutions.

9. Fintech Cyber Security and Stability

Customers were really worried about the protection of their sensitive personal information when it comes to FinTech as technologies have never been reliable and bring a lot of threats like money laundering or identity thefts.

Majorly cybercriminals focus on small banking firms as they might not have invested in the security which means that by the end of 2020 FinTech organizations will be taught about cyberattacks and its survival.

There will be more security and stability on the customer’s personal information and funds.

10. Converge on Unserved 

Based on the reports by the World Bank, around 1.7 billion people around the world have never been a part of the financial system. Many have never had a bank account of their own because 26% of people find it expensive, 30% were never influenced by the bank need, and the rest 46% do not have money.

The main focus of financial leaders is in this unserved area. Instead of focusing on the already established area, fintech startups are trying to focus on the new area and finding creative ways to reach more customers.  

11. Low Use of Physical Money

Another important trend that indicates the more use of fintech is fall in the use of physical money.

Starting from 2016, around the world either people started using payment wallets or net banking or the merchants have declined any cash payment.

In 2020, the percentage of low use of cash has accelerated and the contactless payment has become one of the greatest trends. Also, with the ongoing pandemic and social distancing practices, it has become common for the people to use cards and payment wallets for purchasing as they don’t want to come in contact with others. 

12. Inclusion of Voice Search

According to stats, around 50% of the world population will use voice search in 2020. It is enough reason that fintech will transform the banking and financial sector with voice search.

The voice search in the fintech industry will offer methods to encrypt and support communication with voice assistants and will also guide customers to easily access banking services. It also reduces the need for physical customer executives to help customers with their problems and will help financial institutions to save up to $3 billion dollars3 billion dollars.

The innovations for payment such as online banking and mobile wallets help in moving past the borders financially while allowing users to shop or make payments throughout the globe efficiently. 

What are the Insights on Fintech Trends?

Customers have admired the complete idea of all-time access to finance. It can be said that Fintech or financial technology is a hot topic nowadays.

Additionally, the traditional institutions of finance are enhancing their investment in Fintech to provide better and efficient services.

FinTech is on its way to bring transformative changes with the flexibility and agility they offer. So let’s get to some of the major insights on FinTech Trends.

1. Growing Blockchain benefits

With the elimination of central intermediaries for the fund transfers, Blockchain enables peer-to-peer or decentralized transactions.

These transactions are not only limited to funds but also includes the transfer of vehicles and home as well. It is removing all those steps to authentications on transfer before the settlement which can take up to 2-3 days.

The Blockchain method helps the customers in making transactions faster and the settlement to take place within a few seconds.

2. Technology Implementation 

Excitement can be felt among both customers and financial institutions with Fintech and other upcoming innovative technologies. But, with innovation comes numerous transformations to previous architecture and the implementation challenges which will eventually get removed. 

A benefit that financial institutions will achieve with the use of financial technology is the ability to save billions of dollars. Apart from that, the tech implementation of finance helps in fraud reduction. 

FinTech is being used by the banking industry with Business to Business (B2B) and Business to Client (B2C) financial transactions as well. Because of the B2B, businesses are now able to easily acquire loans and other financial services.

With B2C comes the ability to pay anywhere anytime to the businesses. These payments can be made via apps like Google Pay, PayPal,  Apple Pay, and many others.

3. Financial Firms Indulging in Fintech

Those days are gone, where customers used to visit banks for their needs. Whether one wants to open a bank account, transfer money, or want to stop a check payment — customers can do it either while being in their comfort zone.

Financial firms like banks are extremely indulging with fintech to improve the overall banking process. Some of the key changes that FinTech has brought are:

  • Innovation & Entrepreneurship
  • Opportunities for Financial Inclusion
  • Increase in NBFCs
  • Easier KYC process
  • Better Wealth Management
  • New Banking Models
  • Improve in Loan Approval & Distribution
  • Secure Transactions

4. Rising Interest of Regulators 

Several regulators are slowly taking leads and showing interest in the Financial Technologies to foster better innovation.

The regulators are testing scenarios to identify the ways in which technology can be intensified. It will also help them to solve problems in transfers.

The FinTech Investment has been increased in the past few years by 500%. Along with that, there has been a paradigm shift in the scale and scope of financial services.

There are factors that can be improved by the regulators. But, they are waiting for the players in the Fintech industry to figure it out. Besides, they are trying to figure out the way in which innovation can become more risk-free.

Many are in the observer pace as there’s no guidance in this industry yet. 

5. Fintech: A Marathon 

Investment in FinTech is expected to reach a whole new level by 2022, i.e., from $127.66 billion to $309.95 billion. This growth is going to give an annual hike of 24.8%. There has been an incredible amount of hike in this industry.

A large number of people have realized that Fintech is not some short term race. It will not come and go within a matter of time. FinTech is a marathon where they have to run for the long-term to achieve their goals. Additionally, there’s nothing stopping this industry from the tremendous growth in the upcoming years.

Creative FinTech Trends Are Offering Complete Business Solutions

With huge banks and card organizations out of the market, Fintechs are offering help to organizations with installments and consistency. Here are a few of the zones in which fintech companies are offering assistance for startups and other businesses, like:

  • Business Checking Accounts
  • Online Banking
  • Business Invoicing
  • Escrow services
  • Money Transfer
  • Taxation Transmittal
  • Shopping Cart Integration
  • Patient/consumer retail
  • Full Cash Management services
  • Track N Trace
  • Inventory Management
  • 360 closed-loop risk/compliance management

Conclusion

The entire FinTech industry is continuously growing. But, with the changes comes challenges from internet banking. To keep customers and companies safe, finding the right solution for them is important.

With the trends, this brilliant combination of Finance and Technology will dominate the world for a long time. It will make the transactions easier, give high-end security, and settlement faster.

FinTech will also offer efficient loan approval, instant KYC, and personalized offers to the customers.

With so many advantages and ongoing trends, one needs to always ensure to protect the customer’s data & reduce the chances of fraud.

The innovations for payment such as online banking and mobile wallets help in moving past the borders financially. It also allows users to shop or make payments throughout the globe efficiently.

Image Credit: bongkarn; Pexels

Mahipal Nehra

Digital Marketing Expert

Working with Decipher Zone Softwares that is a Java Development Company. He always loves to write about technical insights, tools for data analysis, emerging technological trends, AI-based commuting services, robots, web applications, CRM, and digital transformation IT solutions.

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Technology Isn’t Always Productive – Here’s How to Use it Appropriately – ReadWrite

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The Communication Pain Points for Remote Teams (and How to Solve Them) - ReadWrite


Technology has revolutionized the way we live, work, and play. It’s a field of miraculous, magical developments that always have the power to help us save time, do more, and ultimately become more productive.

Right?

Technology Isn’t Always Productive

You might have had some experiences with technology that make you question whether a new app, a new gadget, or a new system is actually adding value to your life.

For example, you might have upgraded to a new project management system that ends up taking twice as much time to use. Or, even more commonly, you might have found yourself endlessly scrolling through your Twitter feed in the middle of an important project.

As a generalized, overarching trend, technology definitely makes us productive.

We’re capable of far more than we were even 10 years ago, and new industries and opportunities emerge every year from new tech. But technology isn’t always productive – in fact, it can sometimes rob you of productive time.

What steps can you take to ensure that all your technology choices end in higher productivity (or at least neutrality)?

Here’s How to Use Technology Appropriately

Outline Your Goals in Advance

Before adopting any new technology, it’s important to outline all your goals in advance. What, exactly, are you hoping to achieve?

Many new technologies make vague promises about making your life better, and many consumers end up buying those products because they seem, in some ambiguous way, “better” than what you currently have.

For example, you have the option to upgrade your refrigerator to a smart fridge. But what are you actually hoping to achieve from this upgrade? Do you want your food to spoil less often? Do you want to stay better organized with your food purchases? A refrigerator upgrade may not be necessary to achieve these goals.

What does productivity mean to you?

You’ll also need to think about what “productive” actually means to you. If a piece of new technology improved your productivity, what would that look like? Some technologies automate or simplify some aspect of your job (or life), only to introduce new problems.

For example, you might develop an algorithm that automatically generates a reading list for you – but it doesn’t always work quite right, so you have to sort through the list manually. You’ve saved an hour on task A, but you’re spending an hour on a new task, task B.

The clearer your goals are, the less likely you’ll be to use technology that has a net negative effect.

Rely on Objective Data

When choosing new technologies and evaluating their ability to improve your productivity, you need to rely on hard, objective data. What, specifically, is this improving and how much is it improving it?

This will help you filter out:

  • Cognitive biases. Human beings aren’t very logical creatures. We’re afflicted with a variety of cognitive biases that can distort how we perceive things.
  • Subjective feelings. You might feel like your phone is making you more productive, but the data may say something otherwise. This frequently happens with new acquisitions; we often like to justify our investments and pretend there are benefits when there aren’t any.
  • Claims and anecdotal reports. Tech companies often promote their products by citing good reviews and happy customers. But anecdotal evidence and personal claims rarely tell the full story.

Always Review Your Options in Depth

When searching for new technology, you’ll probably have many options to choose from. There are dozens, if not hundreds, of competitors in almost every imaginable niche, so it’s important to review your choices carefully before making a final call.

Consider these choices for your technology:

  • Features and functionality. What does this product have that other competing products don’t have? Even more importantly, what does it do to boost your productivity?
  • Flexibility and scalability. How much can this product change, grow, and evolve with your company? This is especially important if you’re going to scale your business.
  • Intuitiveness and learnability. How long will it take to learn how to use this system properly? Low intuitiveness can compromise even the best tech investment.
  • Ratings and reviews. When combined with other considerations, ratings and reviews can be valuable in helping you make up your mind.
  • Objective metrics. More importantly, though, you’ll need to look at the numbers. How many hours could this save you? What new tasks will it require?
  • Costs. There may be a new app or gadget that can boost your productivity by 10 percent. But if it costs $10,000 a year, it may not be worth it. Consider the costs as well.

Automate Whatever You Can – but Understand the Limits

Automation is one of the best ways to save time and increase productivity in a business environment. Accordingly, you should strive to automate whatever you can.

That said, there are some limitations to what you can automate effectively. Automation relies on predictability and consistency; in an environment with unknown variables or areas that require human creativity, automation becomes less practical.

Excessive automation can also compromise certain aspects of your business; for example, you might be able to automate all your email marketing and sales campaigns, but it could turn people off for being too repetitive and “cold.”

Minimize Apps

For the most part, you should strive to limit the number of apps you rely on, both to simplify your infrastructure and to minimize time spent jumping between systems.

You can do this by consolidating the functionality of several apps into one, relying on integrations to send data to and from various apps, and by resisting the temptation to buy new apps just because they’re new and look cool.

Set Limits and Restrictions

Some apps and devices make it hard to be productive because they occupy too much of your time or interfere with your life in some crucial way. Accordingly, it’s advisable to set limits and restrictions for yourself, sometimes within the apps themselves.

For example:

  • Screen time. Most smartphones and modern devices have built-in settings and apps to help you track your screen time. You might even be able to limit it. This is especially important for apps and devices that tend to distract you or pull you away from more productive work.
  • Notifications and distractions. You should also be aware that even one small distraction has the potential to harm your productivity for nearly an hour; it takes time to build focus and momentum, and even a seemingly small distraction can ruin that. Turn off notifications wherever and whenever possible and consider closing out apps that might distract you (such as your email account during a busy workday).
  • Communication. Communication is valuable in any workplace or home, but modern technology makes it all too easy to get in touch with someone – even when they’re busy. Don’t drop everything you’re doing every time you get an email, instant message, or request for a video call; use your communication apps intentionally and mindfully.

Measure and Reflect

Rely on a combination of built-in tech tools, time trackers, and other analytics dashboards to keep track of your productivity and your progress. How are you using the various tools available in your arsenal? How much time are you spending on various platforms and on screens? How many hours are you working and how much were you able to get done?

Consistently measure your productivity and observe how it changes over time.

Don’t just assume that a new piece of tech is boosting your performance; try to prove it. If it’s not working for you, consider cutting it and moving onto something else.

If you aren’t careful, a new app, a new gadget, or another high-tech investment can end up working against you, either by distracting you, interfering with your work, or making something you were already doing harder.

As long as you think critically about your new tech adoption and continue to be discerning in your tech infrastructure, you can end up benefitting from new tech.

Image Credit: curioso photography; pexels; thank you!

Timothy Carter

Chief Revenue Officer

Timothy Carter is the Chief Revenue Officer of the Seattle digital marketing agency SEO.co, DEV.co & PPC.co. He has spent more than 20 years in the world of SEO and digital marketing leading, building and scaling sales operations, helping companies increase revenue efficiency and drive growth from websites and sales teams. When he’s not working, Tim enjoys playing a few rounds of disc golf, running, and spending time with his wife and family on the beach…preferably in Hawaii with a cup of Kona coffee.

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Top No-Code Tools to Automate Your Approval Process – ReadWrite

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7 Things to Consider Before Starting Your Own Business - ReadWrite


If your business hasn’t automated its approval process, you’re probably losing valuable staff time to repetitive tasks. Approving timesheets, time-off requests, purchase orders, work orders, and more involves processes with many steps. In fact, just the act of sending emails to verify approvals can eat into your staff’s time.

Creating apps that automate your approval process no longer requires a web developer, thanks to the array of no-code tools available. These tools feature easy editors with drag-and-drop functionality that allow anyone to create an app and a workflow that automates the approval process. 

Available at various price points, any one of these apps could streamline approvals and pay off in many other ways for your business.

The Best No-Code Tools that Automate Your Approval Process

No-code tools that can automate your approval process run the gamut from user-friendly options for small businesses to more comprehensive platforms suitable for large enterprises. Whether you’re looking to create one app or want to design dozens that can handle every facet of your business, these no-code tools can help.

JotForm Approvals

JotForm Approvals streamlines the approval process without the need to do any coding. The drag-and-drop interface makes it easy to set up a workflow that includes approvers, conditional branches, and automated emails.

With the JotForm Form Builder, you can easily build an online form to quickly collect submissions. Those submissions might be timesheets, work order requests, inventory purchase requests, or any other type of request that requires approval.

Once someone completes the approval form, the submission triggers the approval workflow you created. JotForm Approvals makes it easy to track and manage the process, and the automated tasks prevent staff from spending time sorting requests, following up on missing information, and so on.

You can set up your approval process to send automated emails to approvers when they receive a new task. And as tasks are approved, form respondents will receive an automated email notification. 

Approvers don’t have to manually draft and send emails, so they can stay focused on the work of approving requests, rather than all of the repetitive work that goes along with approval.

All approval requests are saved in a central location, further saving approvers time. Information gathered through forms populates a database in JotForm Tables that supervisors and approvers can access for a broad-picture view. 

The database makes monitoring the entire process simple, and supervisors can potentially spot problems and holdups early on in the process.

The JotForm Mobile Forms app, which is available for free on iOS or Android, enables approvers to manage both forms and approval flow from their phones.

JotForm Approvals is free.

Checkbox

Checkbox features a convenient drag-and-drop design that makes for easy and fast workflow automation. This app enables you to create parallel workflows, including reminders, scheduled tasks, and approvals, to keep your business running smoothly and efficiently.

Checkbox’s predetermined logic options make for streamlined processes that are accurate and appropriate. Including calculations, digital spreadsheets, if-then logic, and decision-tree logic in your workflows help to avoid holdups and reduces the demand for staff to make decisions and sort requests manually.

This no-code platform is comprehensive. Not only does it handle workflow creation and approvals, but Checkbox also features a calculation engine capable of creating complex rules and logic. 

The dashboard and analytics help you identify what’s working and how to improve your business, while integrations with other tools make Checkbox a seamless addition to your existing business technology and systems.

The template gallery is loaded with templates to save you time and make the automation process faster. You can easily customize templates for common approval situations, like performance reviews, document execution approvals, and expense approvals.  

Checkbox offers a 14-day free trial, so you can experience it for yourself at no risk.

Decisions

Decisions is designed for fast implementation, so you can automate all of your business systems. Its rules-driven automation can pivot with the changing business environment, so you can establish systems that will adapt to shifting regulations, demands, and more.

This no-code platform includes powerful and comprehensive features, so you can rely on it for all of your automation needs. There’s no need to worry about integrating other tools or dealing with compatibility issues.

The Decisions visual designer is user-friendly, relying on graphics so that anyone — with or without coding or IT background — can automate processes. The Workflow Engine boasts more than 3,000 pre-built steps, making it easy to create workflows and processes that automate everything from work orders to vacation requests.

The drag-and-drop interface makes building custom reports simple, so you can access the specific information you need for a project, investor, or meeting. With such easy access to trends and business metrics, this platform can help you address processes that aren’t working and improve those that are.

Decisions goes beyond your typical automation platform with detailed reporting and built-in testing and debugging capabilities. Whether you’re just getting started with automation or are working with complex configurations, these testing options can help to head off trouble before you put a process into place. 

You can even create permanent rule and workflow unit tests that automatically run with any rule changes. This ensures that your processes perform the way you want them to and allows you to spot errors early on before they become costly mistakes.

With its extensive functionality, Decisions stands to save businesses significant time. It’s well-suited for large-scale enterprises looking to automate their approval processes and systems across their operations. 

Pricing starts at $4,839 per month for a single server with unlimited users. Enterprise pricing details are available upon request.

Rindle

Rindle, a no-code automation platform, allows you to build processes that enhance your business and your team. Trusted by top brands like the YMCA and AudienceView, Rindle features an easy-to-use dashboard and versatile capabilities.

With Rindle, you can create rules that will guide each step of your workflow, including your approval processes. The rules are customizable, so you can implement the steps and requirements that make sense for your business.

You don’t have to be a coding expert to work with Rindle. It comes equipped with more than 20 no-code triggers, the ability to use “and” and “or” logic for conditions, and more than 30 no-code actions. This simplifies the process of building your workflow and rules.

The Rindle dashboard resembles a card system like Asana or Trello but with more sophisticated capabilities. While you can still assign tasks and deadlines, the automation you set up can also create subtasks and take over some of the work.

You can use Rindle to create rule-driven workflows for your approval process. Whether you’re sorting emails based on the responses provided or need to ensure that requests requiring multiple approvals get in front of the right people, this platform can simplify the process and make for faster, more accurate results.

The Rindle Professional plan costs $9 per user, per month, while the Business plan costs $20 per user, per month. All plans include a 14-day trial.

Quickbase

Quickbase allows you to automate business processes without requiring any coding. The drag-and-drop visual builder is very user-friendly, and it helps you visualize how an app will function.

With Quickbase, you can upload data from a spreadsheet or by copying and pasting, to create a database. You can then build an app with that data.

When it comes to automating your approval process, Quickbase’s task management is highly customizable. Automated notifications, reports, and approvals can improve efficiency and keep your business operating smoothly, while reducing the time staff spend on standard tasks. 

Quickbase offers a library of templates that can help you set up automated processes, so you don’t have to create a custom app.

The platform also integrates with various popular services, including Box, Gmail, Google Drive, Salesforce, Zendesk, and more.

Quickbase offers a 30-day free trial, and there’s no credit card required to sign up for the trial. Pricing is customized; contact the company for more info.

Flowfinity

With the Flowfinity platform, you can create custom apps for enterprise-grade solutions. Top businesses, including Ford, Campbell’s, Pepperidge Farm, and more, trust  Flowfinity.

The visual interface is simple, so it’s not overwhelming, but it’s also highly versatile. You can publish apps instantly, and they’ll be automatically installed to save you time. Dashboards allow for data visualizations so you can monitor your business and app performance.

Flowfinity’s point-and-click editor simplifies the process of building an app. The apps are automatically published for users, who might be in the field or in the office. 

The apps centralize your data, no matter where your users are located, and integrate it with your backend systems. From there, you can create reports, custom PDFs, export the data as a CSV file, or visualize and analyze it right in your dashboard.

Creating an app with Flowfinity helps to facilitate information flow while eliminating manual processes. You can use these apps to automate your business processes, including streamlining the approval process. The result is enhanced productivity and accuracy, as well as time-saving benefits for your staff and business as a whole.

In addition to automating approval processes, you could potentially use these apps to automate many other processes. Features like skip logic, barcode scanning, personalized emails, and the ability to create custom workflows mean there are potentially endless ways to apply these apps in your day-to-day operations.

Flowfinity offers a 14-day free trial and doesn’t require any credit card information to sign up for the trial. Pricing details aren’t available online.

Kintone

The Kintone platform simplifies the process of building the custom apps your business needs. This no-code platform doesn’t require any IT or third-party developer assistance, saving you time and money.

Kintone offers a library of more than 1,000 new apps that can serve as a starting point. The apps are all free and customizable, so you don’t have to build an app from scratch. 

You can create apps to automate your business approval processes, make for easier inventory management and ordering, facilitate time-off request approvals, and so much more.

As you build, you can also explore the wide selection of available extensions, including very popular programs like Dropbox, Evernote, Eventbrite, Gmail, HubSpot, and more. These extensions can increase your app’s functionality, ensuring it works with the other programs you’re already using for seamless integration with your business.

While Kintone makes the process of building apps easier, it also serves as a central dashboard so you can conveniently access all of your data.

Its in-database collaboration option allows you to easily search, read, and join conversations, which helps keep all of your team members on track and up to date. Teams can communicate through threads, in-record comments, user profile walls, and private messages, ensuring those conversations are stored and available when needed.

Accessible on an internet browser, Kintone is also available as an iOS and Android mobile app, so you can always stay connected.

A professional Kintone subscription starts at $24 per month, per user, with a minimum of five users. Discounted nonprofit and education and government subscriptions are also available.

Kintone offers a free trial that doesn’t require a credit card for signup.

Open as App

With Open as App, you can use your existing data to create an app. This platform pulls data from Excel, Google Sheets, or a database, all without any coding needed.

Once you’ve created your apps, it’s easy to manage them through the centralized dashboard. The dashboard gives you control over rights, security, and access settings. Your app will be visible only to you, and you can decide when and if you’re ready to share it with others.

With Open as App, you can automate your business processes, including approvals. It’s possible to automate time tracking sheets, quote follow-ups, approval notifications, sales system updates, and more. The apps themselves, can include automation like push notifications and automated emails, making them extraordinarily efficient.

Open as App helps you design four different types of apps:

  • List apps convert your data into apps that are easy to access both online and offline. Users can update reports and databases, filter data according to specific criteria, and update the data.
  • Dashboard apps make it easy to access your Excel or Google Sheets dashboards right from your phone. Charts update automatically, and you can customize colors and chart types.
  • Calculation apps make it simple and intuitive to use complicated spreadsheets. Formulas from your spreadsheets are automatically added to an app, so other team members can use the formulas and logic.
  • Survey apps make gathering survey information easier and more efficient. With this app, users can quickly fill out survey information on their phones, increasing the response rates.

While you can build a custom app from scratch, Open as App also offers a wide assortment of apps online. They can serve as an inspiration and are available publicly, so you can see what’s possible with Open as App and what type of app might work best for your business.

Open as App offers a free plan that allows you to create one app and share it with one user. The Business plan, which allows you to create 10 apps and share them with five users, costs $106 per month. A custom Enterprise plan is also available.

Choosing the Right No-Code Tools for Your Business

With so many no-code tools available, whether you’re running a small startup or a larger enterprise, you can find a tool that has the functionality and capacity you need. 

Choosing the right tool for your business.

When choosing the best app, you’ll start by outlining the processes that you want to automate and the other potential uses for apps within your business. Many of these tools can help you create apps for all sorts of purposes, so write up a list of potential apps and look for a tool that can help you create those apps.

Many of these tools feature pricing that depends on the number of seats or the number of users.

It’s helpful to review the roles that each employee in your company will play, whether that’s developing an app or using an app. Having this information can help you assess both pricing and value as you consider these different tools.

Automation gives you accuracy, productivity and costs savings.

Keep in mind, too, that automating the approval process (and other business processes) pays off in enhanced accuracy, productivity, and cost savings. While you might invest in a no-code tool to develop the apps you need, remember that it’s really an investment in your business’s success and efficiency. 

Image Credit: cottonbro; pexels; thank you!

John Boitnott

CEO, Boitnott Consulting LLC

A journalist and digital consultant, John Boitnott has worked at TV, print, radio and Internet companies for 25 years. He’s an advisor at StartupGrind and has written for BusinessInsider, Fortune, NBC, Fast Company, Inc., Entrepreneur and Venturebeat. You can see his latest work on his blog,
jboitnott.com

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Importance of Paid Social Media | Wild Ads

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Psychological Techniques Used in Selling Products


With smartphones and laptops becoming an everyday essential, anything that is available or can be viewed and purchased through your mobile becomes an instant hit. Also, social media is the new habituate to today’s populate. Want to reach people? Put it on social media, because that is where you can find a lot of audiences.

Importance of Paid Social Media

This exponential increase in social media usage led to using this platform for marketing. As time flew, this marketing platform became more reliable. Say you post a picture of your product on social media. Someone from your friend’s circle views it. They happen to like it, so they do either of the following:

  • Share it with their friends
  • Inquire about the product
  • Post it in their story
  • Retweet your post

Ask yourself some questions to get to the best point of your social media output.

  • Who is your target audience?
  • How will you know the traffic source?
  • How to find the bounce rate?
  • Will you analyze your customer touchpoints?

To understand the question — we need to understand the traffic and age groups visiting the various social media. Analyzing the touchpoints based on source, local, and age group will help get this data. Your touchpoint questions are where paid social media will help you. Paid social media is the answer to the above key insights. So, how will this paid social media work for you?

First, let’s explore what exactly is paid social media?

Social Media is not that different from other forms of advertising. You pay to various social media companies like Facebook, Twitter, LinkedIn, etc., to display your ads to their consumer’s profiles. The biggest advantage of paid social media is that those companies have relevant data about their users, and your ads will be displayed to users who need your product/service.

Identify and filter out people who are most likely to convert.

It is different to pitch to a crowd to identify your product, but it is a whole another thing to make potential consumers aware of your product and make them your consumers. The latter is exactly what paid social media does to your business!

Are you guys still wondering why you should embrace paid social media marketing? The listicle below will help us gain depth about paid social media marketing and how it is the most profitable route,

  • Flexible Budget
  • Help Analyze Touchpoints
  • Optimize Content
  • Easy Funneling Potentials
  • Enhance Brand Awareness
  • Gain Awareness of Current Market

Flexible Budget

You can plan your budget. You can promote your brand on social media with a minimal budget. You will be charged on the type of ad, length of your ad, and the placement of your ad in the potential customers’ media feed. There are many schemes from which you can opt for the one that best suits your budget. The coverage of the scheme varies based on your budget.

Apart from that, there’s PPC which is pay per click which means you have to pay a certain amount to the social media company for every click your ad gets via their media. This means you can pay after seeing the results you desire on your webpage.

Such options help you carefully plan all the aspects of your advertisement, like length, content, and placement. You’ll look at the prospective clicks you want to make planned profits with planned costs and make the most of your ad.

Research and analyze the plan that best suits your needs and invest appropriately. Fortunately, the best part about social media marketing is that it can be done both at an exorbitant price and at a low-cost budget.

Look for: 10 Low-Cost Social Media Marketing Tactics That Work

Help Analyze Touchpoints

You will be able to plan a more concentric campaign if you get to know the touchpoints. Touchpoints are the possible ways to interact with your consumers (not physically or directly), which influences them to feel a certain way about your product.

Categorizing the points based on age, source, campaign medium, and the monthly trend will help customize your marketing plans.

Upon delving deep, you should choose the appropriate customers who really need your product/service and try to market your product in a meaningful way to establish a bond with them. Touchpoints are basically like the race you need to run to make your potential customers become your actual and regular customers.

What are Touchpoints

Touchpoints involve a lot of demographic detailing and planning, which is a pretty huge and essential task you need to undertake when you’re organically marketing your brand.

Who knows people better than the media, where most people spend most times of their lives? Yup, you guessed it right, it’s social media companies. In the case of paid social media, the touchpoints covered under social media are taken care of by those companies for your brand.

Optimize Content

By analyzing the touchpoints, you can optimize the content based on your target audience’s preferences. Content construction and framing is a crucial step in marketing. You have to carefully frame and spread your ads to decide how your touchpoint connects with or perceives your brand.

Marketing

No amount of ads or paid marketing or quality products can save your brand if your marketing content does not convey much. You get to see, analyze and, to an extent, control the success of your ads based on deciding its content wisely.

As an initial wave, consider using your most successful ad, which had high reach and conversions organically into paid social media marketing. You’re basically going to project your most successful campaign to a larger group of potential customers. The larger amount of potential customers might help you kick start your product on a wider platform and kind of assures most profits because the content you’ve chosen has worked the best already.

Strategies

In the long run, you may have to apply different strategies to pin down the content, leading to most conversions. Other famous tricks of the trade are to A/B test your best campaigns in specific sample groups to choose the campaign with the most potential.

Easy Funneling Potentials

Paid social media will help find target audiences easily. This will help you plan your marketing strategies. By understanding what type of marketing works for your product, you can help increase the magnetizing rate. This will also help divert more traffic to your web pages.

Enhance Brand Awareness

Customizing the content will ultimately enhance the user experience, thereby help your product reach its audience better.

Gain Awareness of Current Market

By constantly analyzing your audience’s interaction with your page, you can learn which product stands out in which locale. You can also thereby gain awareness about the current marketing working for that locale.

Image Credit: from the author; thank you!

Bala Kumar

Digital Marketing Consultant

Hello, I’m Bala Kumar, a Certified and Performance-driven SEO Consultant and Digital Marketing Expert. With five years of expertise, I can build scalable digital marketing strategies. My core competencies are paid marketing, PPC, SEO, SMM, Inbound marketing, Market research and analysis, Blogging and Local Search Marketing.

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