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Menufacturing  manufacturing
Improve productivity, enhance safety standards and explore new growth avenues for your business. AR helps optimize manufacturing operations in many different ways, and drives revenue generation.
  • Acts as a training enabler leading to better, more accurate work
  • AR can aid safety training that helps workers understandsafety precautions
  • AR apps can be used to identify machine flaws quickly, thus reducing downtime
  • Day-to-day shop floor problems can be solved easily with real-time diagnosis.
Retails  retail
Drive more sales and engagement using AR to unify your online and offline retail channels and deliver an omnichannel experience to customers. Make a customer’s in-store experience more interactive or offer your customers an in-store experience, online.
  • An immersive retail experience that drives more engagement
  • Increase sales both online and offline
  • Beat your competition by doing something they might not be doinge
  • Reduce guesswork for customer, reduce product returns
Real Estate  Real Estate
AR is all set to revolutionize the real estate industry as it helps offer home buyers a clearer perspective of what their properties will look and feel like. This allows them to make better home buying decisions.
  • Save time spent in on-site visits
  • Offer potential customers clarity on the positives of a particular property
  • Quicker buying decisions help improve business profitability
  • Reach out to wide audience of buyers
Education  education
Deliver a hands-on learning experience to students through absorbing learning simulations. AR acts as valuable teaching aid, helping tutors make their point more effectively.
  • Students become an integral part of the learning environment
  • Facilitates intellectual development of students
  • Students are prompted to use their imagination
  • Drives successful learning outcomes
PR & ADVERTISING  PR & ADVERTISING
Take brand promotion to another level, ensuring target customers are more in sync with your products and services. We use AR to ensure your efforts to promote your products become more experiential.
  • Improve impact of promotional messaging
  • Increased ROI from branding efforts
  • Better customer connect
  • Adds a touch of fun and excitement to your advertising endeavors
Gaming  GAMING
With AR, game play becomes more realistic and gamers experience more advanced visuals that are more impactful and engaging. We integrate dramatic art, 3D sounds and more to deliver a captivating experience to gamers on their devices.
  • More downloads, means better profitability
  • Higher ROI from games development
  • More compelling games, recurring in- app revenue
  • Enhance target audience connect
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SaaS Benefits For Business

What Are The Benefits Of Software As A Service For Businesses?

Software as a Service (SaaS) is a precise cloud computing service that offers users access to a vendor’s cloud-based software. SaaS delivers an intriguing alternative to benchmark software installation in the business environment (conventional model), where you have to build-up the server, enable and install the application, and finally configure it for further use.

What is SaaS, and how does it benefit the business? However, here in the SaaS model, applications directly reside on a remote cloud network accessed by the web or API, and it operates as a rental model. You and your company have the authorization to utilize it for a fixed time period and pay for the software you are using, thus enjoying software benefits as a service model.

Why would a Business Use SaaS and SaaS Benefits for Business?

SaaS is one of the three significant categories of cloud computing, with the platform as a service (PaaS) model and infrastructure as a service (IaaS). SaaS benefits in many potential ways over customary business software installation models, including cost-effectiveness, swift configuration and deployment, effortless updates, better accessibility, and scalability. We will explore the advantages of SaaS in cloud computing with complete details in this blog post.

How does SaaS work as a Cloud Computing Model?

In the SaaS model, the provider offers clients with network-based access to a single copy of a precise application that the provider has built for the SaaS-based distribution. The application source code is the same for all the client-bases. When fresh features or functionalities are enabled, they are automatically distributed to all the clients in that SaaS model.

As per the service level agreement (SLA), client data for every model can be stored-up locally, in the cloud, or hybrid. Companies can integrate SaaS applications with other software utilizing diverse application programming interfaces (APIs). For illustration, an organization can write its own software tools and use the SaaS provider APIs to enable or blend those tools with the SaaS service offerings.

The most common SaaS applications are utilized for crucial business technologies, such as customer relationship management (CRM), email campaign handling, sales management, financial management, human resources management (HRM), invoicing, billing and software collaboration. The key providers of SaaS include Microsoft, Salesforce, Oracle, SAP, and Intuit.

Advantages of Software as a Service (SaaS)

To assist companies in understanding why they should select SaaS solutions over time-honoured software, we have listed here the advantages of SaaS for the businesses.

1. Highly Affordable

Unlike long-established software, SaaS (like CRM software) is by and large sold mainly on a subscription basis that comprises upgrades, maintenance, and a degree of client support. SaaS subscription models generally operate on a monthly subscription basis, and thus there are no high up-front service costs applicable in this specific model.

2. Swift to Implement and Deploy

With SaaS solutions, all you require is a web browser and online access, and you are ready to go. While with conventional software solutions, they can take weeks or months to implement and deploy. Also, SaaS solutions don’t need any of the software tools to be enabled, and so you can access your fresh software right away.

3. No Need for Physical Infrastructure

When enabling business applications through SaaS, the intricacy of the underlying IT infrastructure is all managed by your SaaS vendor. The end users do not require being concerned about the maintenance of any hardware or which operating system version backs which of the databases. So, the SaaS service provider will take care of all this stuff for your company, so you can directly focus on your business operations.

4. Flawless Updates and Upgrades

Your SaaS service provider will handle all the software updates and upgrades for you, getting rid of the requirement to install or download different patches. You can also be fully assured that you will always have a higher up-to-date software solution.

5. Assured Levels of Service

With most long-established software solutions, you are not given an assurance on how well it will work and perform; however, with SaaS, you are guaranteed on its performance levels. Most of the SaaS service providers guarantee your applications will be accessible 99.5 percent of the time. In the scenario, if the vendor doesn’t deliver the promised performance levels; the vendor has decided penalties to be paid.

6. Enable Backups and Data Recovery

If you have worked with conventional software, you will very well know that except a pricey automated solution has been enabled, the procedure of backing up your data on a frequent basis can be a painstaking job at the best of times. However, SaaS solutions do away with this painstaking activity, facilitating automated backups without user intrusion and thus make sure the uprightness of your data.

7. Work from Anywhere

With merely an internet connection, SaaS solutions can be effortlessly accessed from anywhere. Users are able to access their data and work more resourcefully from anywhere, making life seamless for home employees or for those people that operate across numerous sites.

8. Safety and Security

In many cases, a company’s business information is more safe and secure in a SaaS solution than in customary software. For instance, at many SaaS vendors, two geographically separated data centers connect the infrastructures to provide applications. In the ill-timed event that a failure occurs in one of the centers, the SaaS vendor can enable a second data center, prolonging providing continuous services.

9. Higher Adoption Rates

As SaaS solutions are provided over the internet, there is practically no learning curve involved with adopting a new solution as staff members tend to be used to working on the internet previously.

10. Long-Term Client Relationships

We consider that this last point to be the most noteworthy. At many SaaS vendors, they charge you a yearly fee for their services. However, the actual reality or fact is that by the time they take into account the customer conversion costs and the money they have already invested in the infrastructure, they don’t make big profits in the foremost year of the customer relationship. So it is essential for them that their customers are satisfied with all their services and remain with them for a longer time.

How to Build a Cloud-based SaaS Application?

SaaS application development varies from the conventional approach to software development in many ways. These differences can seem unapproachable to non-experts and those not experienced with the SaaS product concepts. However, cloud-based and conventional app developments really have a lot more similarities.

The foremost difference in building cloud applications is the requirement to choose the right cloud services provider. One of the significant advantages of cloud solutions is that subscribers characteristically don’t have to install software on their devices. This scenario is good for users, who don’t have to pay higher up-front expenses for the application itself and don’t have to give up precious storage space and computing power to operate the application and get the job executed. However, you still have to evaluate a trustworthy cloud service that can host your SaaS platform and facilitate easy access for your end-users.

Key Takeaways

These are the benefits of the Software as a Service (SaaS) model for your business. You can match this with long-established software vendors who make the majority of their profit on the preliminary software license sales and have a comparatively small ongoing support fee. Their focus is on getting you to purchase the software license and not essentially work on the long-term view.

Technostacks is a leading SaaS development company, and you can connect with us for any kind of SaaS-based cloud software development services. We have an experienced team of developers who are able to satisfy your needs. Don’t hesitate to contact us, email us info@technostacks.com or call +919909012616 for your project discussion.

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Chatbots For Automotive Industry

How Chatbots Are Transforming The Automotive Industry?

The rise of digitization is transforming organizations, industries, and people from all walks of life. It is the era of conversational commerce, and Chatbot in the automotive industry is combined with several OTT applications. And the Chatbots are gradually proving to be a unified solution for business communication processes.

A recent survey reports that 90 percent of consumers today prefer instant messaging to invigorate communication with a business, while only 63 percent of consumers prefer messaging over any other communication channel.

Today, contemporary living is witnessing consumers, especially millennials, actively engage in messenger and chat applications. They are actively involved in manifesting a purchase, research, and interaction on a real-time basis, benefitting business and organizations.

With the advancement in Artificial Intelligence, today’s platforms offer a real-time experience while engaging with the preferred brands. The automotive industry is one such area where customers need personalized assistance while economizing the procedure for automakers and car dealers.

But before any other detail is chased, here is brief info about what chatbots are.

What are Chatbots?

Chatbots are conversational assistants that use artificial intelligence (AI) to converse with diverse kinds of consumers effectively. Industries such as the automotive industry make most of the chatbots as a part of their marketing strategy.

How Chatbots Are Beneficial For The Automotive Industry?

Like every other industry, chatbots can alter the automotive industry and significantly benefit customers. Here are brief information and insights on how chatbots are changing the automotive industry.

Here are the major reasons to have chatbots for the automotive industry.

1. 24*7 Onsite Messenger

Today, the digital economy has increased the expectations of customers in terms of both accessibility and convenience. For becoming a winner in the current competitive world, automotive dealers need to be well prepared to deliver a meaningful and engaging customer firsthand experience. The automotive chatbots efficiently help the dealer to catch the ever-evolving understanding of the customers.

Chatbots can offer real-time and instant conversations seven days a week and 365 days a year. Customers have the liberty to interact with the representatives, along with receiving dedicated support from chatbots. When the dealership is not operational during odd hours, customers can still interact with the Chatbot and obtain the necessary assistance.

2. After-sales Service

The ultimate aim is never to sell a car instead of offering an overall experience to propagate further assistance. While dealers are busy and service bays are crammed with an unending list of orders, the chatbots for the automotive sector are the right assistance to help automate schedules and decipher problems while getting connected with the right dealer. When a customer schedules an appointment, they also need to know the estimated cost and delivery time. Although these tasks might look minimal, however, they create an enriching and valuable customer bond.

These are efficient in elevating dealer retention and customer engagement levels. It can effectively touch each aspect of the delivery chain, including retailers, dealers, salesmen, manufacturers, and service technicians. The auto industry is one such sector that continues to evolve while embracing the future of car buying and personalized experience for every consumer.

3. Lead Generation

A chatbot for the automotive industry can efficiently convert the public Facebook profile into a source that offers useful data, ensuring an instant lead generation. A chatbot deployed FB messenger can identify the customer instantly through the profile and serve the necessary information.

4. Test Drives

While it can get hectic for the staff to perform the daily mundane task of seeking customers’ information intending to go for a test drive, the chatbots are equipped to handle the job well. It does so by uploading the information to the database, while the test drive appointments are quickly scheduled without any human being’s assistance.

5. Alert Staff Members

Automotive industry AI chatbots also alerts the staff members once a customer fills out an online form. It does so by leaving a message and schedules an appointment to communicate with a representative. The alerts pass the message without any delay and without needing the customer to wait.

6. Voice Support

A few of the chatbot platforms offer built-in voice support. This scenario enables customers to communicate with the Chatbot instead of typing and sending messages. Hence, it is beneficial to provide a more realistic experience and a human touch.

7. Internal Support

A pile of information needs to be catered to regularly. It could be customers, inventory, automobiles, and more. Thanks to the chatbots, it has become one essential source of information for any queries while helping employees get quick access to obtaining relevant information.

8. Service Plea

The dealers in the automotive field receive daily service requests, and using the car dealer chatbot can further automate the process. It can interact with the customer, capture the required data, and set up the service request forward. The staff members can furthermore view the appointments and form the plan accordingly.

As per a survey by Capgemini, conducted on 12000 consumers along with 1000 executives from varied industries, it was seen that 50 percent of automotive companies make use of AI-enabled chat or chat assistants to engage the customers actively.

9. Hassle-free Sales Conversions

Car dealers offer a pile of information on digital interfaces such as social media and websites while helping potential customers in the initial decision-making stages. However, the data is often too much for customers to absorb, and dealers are assisting customers in ending up incurring maximum efforts to convince customers for sales.

Here, by deploying the automated chatbots, dealers can efficiently reach out to a broad audience while generating awareness and simplifying the prospect’s research and collaboration details. With such functionality, even customers can simultaneously chat with a friend and check the estimated value while setting an appointment online.

10. Reduced Wait Interval

Customers today are quite busy with their personal work and are used to attaining instant responses. The same applies to the automotive industry, where automotive dealers need to invest in a more convenient solution such as automotive chatbots observing these types of trends. Also, this scenario effectively caters to the growing expectations of the customers. No longer do customers need to wait for a solution. Instead, they can attain it instantly through round a clock support system. Now, you can get your queries solved even at odd hours of the day with the enablement of automated chatbots.

11. Reduced Costs

Automation can save a significant amount of costs by introducing chatbots and automating sales, marketing, and customer support. It can efficiently reduce costs through timely service appointments and scheduling maintenance tasks.

12. Boost Customer Engagements

Chatbots helps to increase customer engagement and automates the varied aspects of the delivery chain. It enables customers to schedule appointments and receive the necessary estimates. In this case, booking also becomes as easy as responding to the message, and the customer also attains regular reminders, offering seamless services support.

Key Takeaways

Hence, chatbots today are transforming the realm of the automotive industry and creating a revolution in its real sense. There is tremendous potential in the way the technology helps the automotive industry deal with customers, save costs, and improves customer engagement.

By helping businesses build a strong bond with the stakeholders, car dealers, and customers, today’s technology is winning the world of the internet.

We at Technostacks are one of the leading IT Software Companies developing automotive software and chatbot integration systems. Please feel free to anytime reach out to us, call us on +919909012616, mail us info@technostacks.com and get your technology, as well as business queries, addressed.

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Fintech Benefits for Banking

How FinTech Is Changing The Banking & Finance Sector?

Whether you realize it or no Fintech is likely a huge part of your life. Right from depositing a check by clicking a picture and depositing it to the bank account, to paying your bill at the restaurant by tapping your phone and heading back home in an Uber where you book a cab online and pay directly through the app.

According to the Global Fintech Adoption Index 2019, a study by Ernst & Young adoption of Fintech services has steadily moved up from 16 % in 2015 to 64 % in 2019, and the number has obviously grown in 2020 due to the pandemic and social distancing guidelines as a new norm. If you are still wondering what Fintech is, here is a brief understanding.

What is Fintech?

Financial Technology abbreviated as Fintech is an innovative technology that aims to transform the traditional way of dealing with finances with the help of improved financial services.

How FinTech Is Transforming The Banking & Finance Sector?

Smart Chip Technology

Smart Chip technology is basically the smart chip ATM card, which minimizes the financial impact due to mishaps. The EVM technology embedded in the chip works on a one-time password formula for each transaction, hence improves the security aspects as the code is valid only for one operation. In case your card is stolen, it will not be of any use to them.

On the other side, banks prefer their customers to memorize their pin and do not share it with anyone to avoid any mishaps. No wonder banks are working hard to match up to something which provides top-notch security to its customers.

Banks still use the magnetic stripe technology that requires the same pin for all the transactions, hence compromising the safety and making it susceptible to fraud.

Biometric Sensors

A biometric sensor is one of the inventions of Fintech. Biometric sensors and Iris scanners are the two technologies by Fintech which ATMs are using. These are advanced to a level whereas one need not carry a plastic card and need not require remembering the pin.

Also, these biometric-enabled ATMs use integrated mobile apps, fingerprint sensors, and eye and palm to identify the account owner. To make sure there is no kind of single mistake or error in customer recognition, ATMs also use micro-veins. Biometric technology gives a sigh of relief to those who get panic even with the thought of losing their ATM card. Biometric makes sure they can access their funds even after losing their card.

Online Transactions

The online transaction ensures an efficient electronic payment system. These electronic payments include payment of insurance premiums, social security, salary, payment of loans, bills, etc.

Omni-channel Banking

Fintech has made a considerable contribution to transforming traditional banking systems from one branch to various other digital channels, e.g., social, online, and mobile. This scenario eliminates the need to be dependent on banks and specific branches that offer certain functions. It results in banks adopting the omnichannel option and reducing their number of branches.

Chatbots for customer service

Chatbots have become popular when it comes to customer service; this machine learning-enabled bots efficiently streamlines client interactions by handling queries as humans and directing the query to the right department.

Many banks have made Chatbots an integral part of their process and programmed it to advise customers on investment plans or advise customers with the relevant information they are looking for, hence increasing overall customer satisfaction.

Artificial Intelligence (AI)

AI and Machine Learning make an excellent combination for detecting suspicious activities/ transactions. These AI-enabled fraud detection software generate an alert when they sense a potential fraud transaction, later the matter is handled for further investigation by humans.

With the technology becoming dynamic and scammers becoming smart, fraud detection is becoming difficult, putting customer data at risk. To address this issue, banks have adopted AI along with a machine learning-driven statistical model to leverage historical data to identify the pattern of fraud attacks. It also includes a data aggregation platform to track data and find out unstructured transactions. It further enables process automation to transform the AML operations, hence reducing the human effort to 50%.

E-Wallet

To name a few Samsung Pay, PayPal, Android Pay, and Apple Pay, some of the giants in the e-wallet world have widely used people to pay utility bills, booking tickets, paying on for purchases, and ordering food, etc.

Apart from these, many brands and e-commerce websites have come up with their own e-wallets, such as Starbucks/ Amazon/ Walmart Pay. These brands attract users by giving them an irresistible offer, cash backs, and reward points.

Banks have realized the potential in e-wallet due to its immense popularity and success. As a result, in collaboration with brands, many banks have come up with great e-wallet offers to lure customers.

Mobile Banking

The boost in the total number of smartphone users is spoiled with the choices they are offered at the convenience of their location with a few taps. This scenario has forced banks to offer mobile banking applications that provide convenient Fintech banking services.

As a result, nowadays, most banks have a mobile app that is user-friendly and has some fantastic features, like recognizing the user’s fingerprint. These apps work seamlessly without the need for any biometric app or hardware.

Mobile Apps have been everyone’s preferred choice for receiving and transferring funds and performing payment functions, right through the mobile banking app.

This scenario clearly shows that the role of Fintech in the banking industry is commendable, enabling banks to offer customer safe and user-friendly banking experience. Customers have embraced technology and demand more of it for smooth financial transactions, and the question still remains how are banks responding to Fintech?

Fintech simply uses an internet connection, mobile, and cloud to provide financial services. A few Fintech banking examples include:

  • Mobile payment apps
  • Mobile wallets are the latest trend as people prefer to make payments without carrying cash/ card.

  • Peer-to-peer payment apps
  • Apps such as Venmo, PayPal allows this feature.

  • Blockchain and cryptocurrency
  • Bitcoins have been famous as an alternative to currencies.

  • Mobile-Only banking
  • Mobile-only banks such as Ally and Marcus.

  • Funding apps
  • Such as Ketto- allow individuals to raise funds from people rather than knocking investor’s doors.

  • Peer to Peer loan programs
  • Websites or Apps that will enable people to get loans from friends or other individuals rather than from banks and traditional lenders.

  • Insurance programs
  • Fintech makes it easy for people to get an insurance quote from various suppliers at once.

  • Budgeting programs
  • These apps are directly connected to people’s bank accounts and credit cards to keep track of the income and spending.

The swift evolution of Fintech has transformed how financial institutions used to function – banks, insurers, and asset management companies have been facing a new reality.

Products and services that were used for decades can no longer be used in the digital world. To keep up with the growing or maturing demand of customers and trends, banks have reinvented their processes. Apart from banks, many tech giants, retailers, and global organizations are looking forward to solutions to provide financial services as per their customer’s demands.

Moving Forward

Fintech is not a rival for traditional financial institutions. In fact, Fintech in banking acts as a facilitator and not a competitor. It wants to work with banks hand-in-hand and grow as partners.

Banks and the credit unions and also the new Fintech providers are committed to providing a next-level banking experience. The advantages of Fintech in banking outweigh the challenges that face it. The partnership between banks and Fintech will create even better solutions and skills for the customers than the organization can offer on its own. Both the bank and Fintech together will surely create a new paradigm for every individual.

Technostacks is a leading FinTech app development company and if you want to develop a Fintech solution then you can contact us, email us on info@technostacks.com or call us on +919909012616. We will give you the best assistance for your app development.

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