Cloud Technology, an Integral Part of Today’s Business

Cloud computing is often regarded as a revolution that reshaped the computing and the Internet landscape. Cloud computing brought in several benefits that changed the way IT departments work. The shift from traditional software models to the Internet got rid of the different challenges associated with running and managing traditional business applications. Before the advent of cloud computing, managing business applications was quite complicated and expensive as it was a daunting task to install, configure, test, run, secure, and update. Moreover, departments have dozens of such applications, which makes managing of business applications an arduous task.

Wikipedia defines cloud computing “as the use of computing resources (hardware and software) that are delivered as a service over a network (typically the Internet).” In this Internet based computing, resources, software, applications, business processes, personal collaboration and information are retrieved through web-based tools and applications and delivered as a service on demand. The four important characteristics of cloud computing are elasticity, scalability, self-service provisioning, and billing and metering of service usage in a pay-as-you-go model.

Cloud computing is so popular that today the cloud has become an integral part of how businesses deliver content and services. From online banking and remote patient monitoring solutions to on-demand entertainment and communications platforms, cloud based solutions are found in every industry. Cloud technology enables an increasingly larger and more widely distributed user base to access real-time solutions anytime, anywhere. As consumer and enterprise environments become more global, software systems must become more interconnected than ever. Hence, enterprises must collaborate with those product development companies who can ensure that products are scalable, provide uninterrupted performance, and protect their users’ confidential information.

Best of the breed product development companies help businesses across all industry segments to migrate or develop secure, scalable, cloud-based products and business systems. They collaborate with customers on all stages of the product lifecycle, from selecting and configuring the appropriate cloud analytics applications, to developing cloud-ready systems, to providing product deployment and support services. Here is a look at some of the services provided by a best of the breed product development company.

·         IaaS: Amazon EC2, VCE vBlock, OpenStack, SAP, OpSource, Joyent, Terremark, Savvis

·         PaaS: Windows Azure, Google app engine, SalesForce, CA AppLogic

·         Virtualization: VMWare, Hyper-V, Xen, QEMU

·         Content management systems: Drupal, Magento, MediaWiki, SharePoint, Alfresco, Moodle

·         Database servers: MySQL, PostgreSQL, SQL Server

·         Web servers: Apache, IIS, Tomcat, WebLogic, WebSphere

·       Web technologies: Responsive Web Designs (HTML5/ CSS3/ jQuery), RoR, PHP, Python, GWT, YUI, ASP.NET, Silverlight, Flash/Flex

Thus, collaboration with the right partners allows enterprises to successfully develop cloud-based solutions where performance and security are critical, from business process management platforms that enhance productivity to real-time EMR systems that save lives.

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Work Smarter and Better with Financial Software Services

According to James E. Staley, former CEO of JPMorgan Chase’s investment bank, one of the two things that could help his industry survive in an era of lower returns is technology. He is definitely right because in today’s fast paced hyper competitive business environment, the financial sector need to embrace technology not only to survive in the changing market environment but also to cater to the demands of a growing population of technology savvy customers.

Today nobody has the time to run to the bank every time to make payments, transfer funds or deposit cash. This has made collaboration with financial software services firms and financial software vendors for developing latest technologies highly imperative to make customer interactions smooth and effortless. The results of such collaborations are, to name a few, online trading platforms that give customers direct control over their investment portfolios and mobile payment solutions that enable businesses to make transactions on-the-fly. Thus, the financial services industry has become a much more competitive landscape in terms of unique services and innovative solutions to access them.

Like any other industry, technology has permeated the financial sector to such an extent that in banks even day-to-day errands like depositing a check, paying bills, and transferring funds can now be done on a smartphone. Thus, thanks to technology, financial institutions are able to work smarter and better by being able to reach out to more customers and by providing better services to them.

On the flip side, enterprises cannot ignore the technology related security and compliance issues. Hence, as financial institutions mounts pressure on both financial services firms and financial software vendors to develop online and Mobile social networking apps  and to migrate products to the cloud, they face the challenge of balancing customer demands with the security and compliance standards that are critical to this industry. Thus enterprises must partner with software product development firms that implement the most stringent security standards and ensure that all products adhere to the latest compliance regulations. Here is a look at the solutions developed by a leading financial software services firm.

Banking

·         Loan origination & processing systems

·         Anti-fraud & anti-money laundering software

·         Risk management & regulatory compliance

·         Integration with credit bureaus

·         ATM / POS / kiosk integration

·         Online & mobile banking platforms

·         Client portals for self-service apps

Financial Services

·         Trading, settlement & order management platforms

·         Analytics & business intelligence tools

·         Pricing & confirmation engines

·         FIX/FPML exchange solutions

·         Online trading & technical analysis platforms

Insurance

·         Rating & underwriting software

·         Fraud prevention solutions

·         Claim management systems

Thus, with the help of financial services firms, financial institutions can keep pace with technological advancements and thereby make customer experience easy and hassle free.

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Create Business Opportunities with Social Commerce Platforms

Social media, defined by Andreas Kaplan and Michael Haenlein (in their article - Users of the world, unite! The challenges and opportunities of social media, Business Horizons) as  "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content”, has come a long way. From being a mere information-sharing tool, social media and social networking sites are now an opportunity for businesses to connect with their customers and create new revenue models.

When social media and social networking sites first emerged, it served as a platform for people to socialize and interact with each other. They shared ideas, activities, events, and interests with each other. Gradually social media and social networking sites gained popularity and now it is the number one activity online.  As per the recent NM Incite/Nielsen report, the “total time spent on social media in the U.S. across PCs and mobile devices increased 37% to 121 billion minutes in July 2012, compared to 88 billion in July 2011.” However, the majority of people access social content through mobile apps. According to the report, apps account for more than a third of social networking time and in 2012 it increased by 76 percent, which meant consumers spent more than seven times more minutes on apps than the mobile web.

As social media gained popularity, enterprises recognized the role of social media in creating brand awareness and acquiring new customers.  Hence, from custom fan pages that raise brand awareness to ad servers that integrate with social networking sites, businesses are leveraging social media to gain new customer insights and drive greater marketing value. Moreover, enterprises are adopting social media technologies internally to provide employees with greater transparency and to inspire more diverse levels of collaboration.

As customers are embracing social media and new technologies to make their lives smoother and smarter, enterprises need innovative technological solutions that help them to increase brand awareness and create new business opportunities. Hence, they must collaborate with software product development service providers who can develop products ranging from integrated online and mobile apps to social media compliance platforms.  Here is a look at the social media platforms developed by a leading product R & D services provider.

·         Social commerce platforms

·         Social advertisement platforms

·         Mobile social networking apps

·         Enterprise social networking solutions

Thus, for any enterprise running a unique campaign, creating a new social media solution, or building an internal employee engagement system, partnering with the specialists in the field can help them develop and launch innovative products to market faster.

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