Latest Software Developments to Transform your Business and Product Offering
We have compiled a list of the latest software developments that businesses around the world benefit from in order to offer you some tech inspiration and help you find your own gold mine.
Customer Relationship Management System
A Customer Relationship Management (CRM) system is not just a database with the contact information of current customers and a history of transactions. This is, above all, is a tool for building stable relationships with your customers, partners and contractors. CRM includes not only advancement on the sales funnel - from lead to contract - but also involves the participation of the entire database in trigger mailings and email marketing, which in turn has a positive effect on the volume of cross and up-sales.
A CRM system is the first thing that should be implemented in a company whose strategy is focused on selling goods or services to customers.
Read how to choose a CRM system here.
Problems with CRM and how we can help solve them
Sometimes an enterprise may require two or more different CRM systems - for example, if you work for markets in different countries. One of our clients who owned a major online clothing shop faced such a problem as he used the Salesforce CRM system for the European market and 1S for the Russian market. We built a single-program solution - Cash flow - to consolidate these two systems and provide clients with streamlined finance-planning, budgeting, analysis and reporting.
Enterprise Resource Planning Software
Enterprise Resource Planning (ERP) software consists of a set of applications that allow you to create an integrated information environment for the automation of enterprise management. At the heart of any ERP system lies the principle of creating a single database containing all corporate information.
A single database eliminates the need to transfer certain data from one system to another, and also ensures the availability of all necessary data for any number of company employees who have the necessary access.
What an ERP system can do
The purpose of modern ERP systems is not only to automate enterprise management, but also to reduce labour costs to support the information flow of the enterprise. Read how a Construction ERP helped our American clients streamline product-purchasing and assisted them in the ordering of materials to meet the challenges of a highly competitive construction market.
Blockchain Technology
Blockchain is a distributed database system that uses software algorithms for reliable and anonymous accounting and transactions. Information on transactions is distributed among
participants and, following its introduction to the system, cannot be changed, since later chains protect data concerning previous operations.
Smart Contracts by Ethereum Project
Blockchain technology is successfully employed as part of the Ethereum Project. Essentially, it provides financial security that is hosted by a network based on future events and routing of computer code to the recipient. It is a decentralised platform that executes smart contracts: apps that run according to the program without any downtime, censorship, fraud or interference from third parties.
Companies can use 'smart contracts' by ignoring regulations and reducing the cost of the most common subset of financial transactions.
How to implement it as part of your business
Let’s say, for example, you have a car park. You can develop an application on this platform and allow customers to rent cars. After both parties agree to the terms of the agreement in the app, they can open a smart lock and take a car.
Internet of Things
The Internet of Things is a network of objects (devices, vehicles, etc.) equipped with sensors, computing and network software and capable of collecting and exchanging data through the Internet. The Internet of things unites devices, allowing them to be tracked and monitored remotely. The term "Internet of Things" refers to any device that can be deemed "connected" and to which you can get online access.
Business case:
The Magora team helped a pioneering Singaporean startup make their kitchen robots smart. The baking devices were consolidated with the robust
Robots
When we talk about robots, we don’t mean those found in science fiction stories, but electromechanical devices or virtual agents that operate either autonomously or in accordance with instructions (usually a computer program), improving upon or supporting human actions.
What companies already use robots?
It's no secret that e-retailer Amazon has a batch of robots in its warehouse to meet orders. The company also hopes to bring a team of drones on board for fast delivery.
The Target discount store network tested a robot called Tally, manufactured by Simbe Robotics, to track inventory of products on the shelves. Tally focuses on tracking stock levels and product prices in stores and uses visual recognition software to identify when
Artificial Intelligence (AI)
Artificial Intelligence refers to software algorithms that assist in solving problems traditionally only valid for the human mind, such as visual perception, speech recognition, decision-making or translation from one language to another. The concept of artificial intelligence includes many areas, including machine learning, which refers to self-teaching technology capable of "learning," "understanding," "planning" and "acting" (that is, becoming smarter) when working with specified volumes of new data.
How AI is implemented in different domains:
- In the banking and finance industry machine technologies detect fraudulent transactions and
recognise questionable algorithms. - In human resources
management artificial intelligence is used to process CVs, conduct interviews and monitor employee activity to prevent fraud. - The use of artificial intelligence in marketing allows you to collect and quickly
analyse information about thousands of users for the promotion of goods and services.
Contact us to discuss AI development for your industry.
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Virtual Reality (VR)
Virtual reality is a computer simulation of a three-dimensional image or a full environment within a given and controlled space with which the user can realistically interact. The task of virtual reality is to achieve the effect of "immersion" and, as expected, requires special equipment, such as a
How VR helps in real business:
One of the most famous examples of the use of VR to increase sales is the experience of IKEA. They launched a mobile app using VR technology, with the help of which buyers could view the
Augmented Reality
Augmented reality is very similar to virtual reality, but involves the addition of visual and other information to the user’s physical surroundings through the imposition of graphics and (or) audio with a view to better familiarising the user with a task or product. This "augmentation" of reality takes place thanks to the use of auxiliary devices that transmit and display additional information.
Operating activities and augmented reality
DHL issued its warehouse workers with smart glasses offering functional augmented reality, with the help of which they were able to improve order-picking efficiency by 25% and significantly reduce number of mistakes.
The Magora portfolio also includes a solution for the Carpet Company, providing users with the means to integrate any of the chosen carpets into the room.
Are You Ready to Transform Your Business?
Evaluating new technologies and generating a plan of action is a complicated and time-consuming task, but it must become an integral part of your overall corporate strategy if you want your business to grow and prosper. To do this, you need to answer the following three questions:
- Does our company have a consistent and sustainable strategy for the implementation of innovative technologies?
- Have we quantified the consequences of the new technologies’ emergence? If not, then how and when should we do so?
- Do we have a roadmap for introducing new technologies?
If your answer to these fundamental questions is “yes”, then you’re right up there. Contact us to discuss the development and integration of innovative software for your company.
Director of Operations and Business Development
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