Digital Product Insights

Fintech applications play a crucial role in managing the finances of millions of individuals across the world. From disbursing and receiving payments to handling investments and providing consumers with a safe and secure platform to maintain their financial accounts, a fintech app has become irreplaceable for all in the last decade.

From when mobile applications were solely meant for large multinational cooperations to today when budding businesses engage the option of having their application reach their clientele faster and serve their customers better, the app development market evolved.

The world witnessed a paradigm shift with the successful launch of serverless architecture and cloud computing almost a decade ago.

The efficiency of a business can be affected by the software it chooses to implement, and since there is a wide array of options available catering to all needs of companies, choosing the right fit can be difficult.

The global healthcare industry is growing by leaps and bounds with the emergence of digitalization and innovative SaaS solutions. Smart medical devices powered by IoT (Internet of Things), electronic health records, and cloud-based applications and software easing the administrative processes as well as catering to other needs of the healthcare providers have changed the face of the industry in the last few years.

The remote or online delivery of health services using the telecommunications infrastructure is not only convenient for healthcare providers and patients alike and is comparatively cost-effective. It saves the professionals from being physically present for consultations and appointments at their clinics. It gives patients the freedom to access medical aid at any location, from their choice of doctor.

Patient data or Protected Health Information (PHI) is acquired and utilized by health clinics, insurance companies, hospitals, and online applications to understand and offer relevant services and treatments to the customer. Since there are a lot of healthcare providers using the personal, sensitive data of patients, it is crucial for it to be protected to avoid it from falling into the wrong hands.

Today, investing in hospital management software (HMS) has become crucial to streamline the administration, increase profitability, and provide better patients. The popularity of HMS has shifted reliance on manual processes to smooth automated operations, increasing the staff's productivity and pushing the facility to offer top-class services to its clients.

To achieve maximum productivity, provide customers with quality products and services within record time, and enhance manufacturing and supply chain to grow exponentially in a short period, businesses have now turned towards digital transformation. Over the last decade, due to Industry 4.0, digital transformation in Manufacturing has transformed traditional roles like sales, marketing, manufacturing operations, and product development and made businesses more profitable.

The time and accuracy needed to complete the activities of an order cycle is the heart of customer service. It is common for customers to expect minimal delivery time and systematic execution of orders. It is essential for activities associated with customer services, such as order preparation, transmittal, inventory, collection, and shipping, to be thoroughly managed through an efficient management system to increase sales and reputation.

The market is flooded with options for every business, but most software development companies face immense challenges. The obstacles are often hard to overcome and need to be addressed immediately to avoid a negative result in the end product. The complexities and problems faced during the development phase contribute a significant percentage towards determining the quality and pricing of the software.

To continue feeding the growing business needs of numerous organizations, software development companies strive to create innovative, state-of-the-art programs every day. They create standardized software applications called “Commercial off-the-shelf” (COTS) software, which can be used immediately. These applications are mass-produced and are designed to cater to a wide variety of clients needing convenient features for general purposes.

Albeit popular opinion, eCommerce application programming is more than a few HTML and CSS syntax, along with some Java integrated user interface widgets and backend data.

At CognitiveClouds, we tend to meet and interact with many clients who are waist-deep in their search to find product/market fit for their startups. In this past decade, we’ve worked with multiple fortune-500 companies and early-stage startups. With the early-stage startups, it’s been interesting over the past year to reconnect with the founders and try to ascertain what led to some of their incredible success where some of our clients had to re-think their business models.

In most of today's software development projects, time to market makes all the difference. Driven by this, we have seen more and more tech leaders with an internal team turning to us to fill their development capacity gaps in the past two years. It is easy to get expectations and details mixed up. A solid software development contract is crucial to how the project is delivered and your experience working with the new team. Unless you know what to look for and include, contracts can miss the mark to account for all the expectations of the parties involved. This blog should help you avoid the common pitfalls when it comes to drafting software contracts.