Business

How Software Developers Can Capitalize With Remote Work

Researchers have found that 98% of surveyed employees this year prefer to work remotely a minimum of two days per week. More than half wanted three days from home, and just around 40% of executives said they wanted to return to full in-person working conditions. It doesn’t take an expert to see that there is some level of disconnection here.

The reality of working conditions today is that there is no getting rid of remote/hybrid working. The shift has become so important to employees that some work it into their contract, and talented workers can easily be snatched by companies willing to offer this simple perk. 

Software development companies know that talented individuals are an asset needed to build teams that succeed in this market. In the best interest of finding and retaining these individuals, we need to outline how this dynamic can work for companies who are unsure of remote work or struggling to fit it into their organization.

It seems like a common fear among executives is that unsupervised employees may not be productive or as productive as they could be in an office. Fortunately, studies have been done over the timeline that remote work has been around and proved that employees are more productive when working remotely. 

It’s been found that when employees are in their own space, they’re willing to put in more hours of work. This is likely because their minds are free to tend to work and life-related situations. However, it must be acknowledged that everyone is different, and what’s working for one person isn’t always ideal for another.

The Process of Change For Companies

The pandemic was a surprise for the world and while some businesses were certainly hit harder than others, everyone felt the impact. Nonetheless, people still need to work which is where the remote model shined. Some managed the transition better than others who in some cases couldn’t make it work for them. 

The point of this argument is that most people were overwhelmed and frightened by the uncertainty of that time. A lot of companies as well weren’t prepared to make the switch but some did. The successful ones overcame the virtual shift by going back to the drawing board and designing new processes to bridge the gap.

In 2021 alone, Zoom made $4 Billion in revenue, and Google Teams, Microsoft Azure, and Skype were all resources being used by companies to make the most of the situation. So it’s not that there was no infrastructure to support this lifestyle for companies. This example speaks to the forever-standing knowledge of how important being able to pivot is.

How Software Development Teams Make it Work

Software development and engineering is never a solo effort. It requires collaboration, openness, and flexibility. Look at agile for example; software development teams were able to effectively handle projects and empower teams as well as customers. The emphasis here is on flexibility and openness which in every software development project is intrinsic to its success.

Whether you’re a software development company or working on a software project, you’re likely encountering some form of remote collaboration. Of course, this is fine as it is becoming the new norm for many outsourcing companies, but communication cannot be overwritten. This is sometimes difficult in software, especially if you are working with offshore teams in different time zones. Typically, this is why going with local talent is your best bet, however, every project is different and so is what people think is best for their business. For your project that is fostering some form of remote work, these should be the non-negotiables:

  • Outline communication standards (how many touch points per day and who to reach for urgent matters)

  • A clear goal for the project 

  • Mutual agreement for the timeline and budget

On the flip side, if you’re trying to make remote work beneficial for your internal team, you should follow these minimum standards:

  • Effectively delegate responsibilities

  • Stay updated as much as possible with the progress of tasks among team members

  • Ensure the necessary resources are available to everyone

  • Identify weekly goals

You’ll notice that most of these points are similar to how a business should function even without remote work. That’s because day-to-day remote working isn’t that much different from regular in-person standards when it comes down to the basics. Of course, there may be situations where the team or client needs to be met with in person, and for those instances, it should happen exactly that way.

What to Remember

Software development and engineering require a team effort. Teams are highly effective in environments that are fueled with transparency and flexibility. Now, just like anything, this is going to require boundaries. If inadequate results are a factor, then take measures to ensure that the goals of the company are being fulfilled. It ultimately comes down to communication; it’s the only medicine proven to produce results.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

How AI and ML Can Help the Banking Industry

Artificial intelligence (AI) is how banks work smarter in today’s digitally driven market. In addition to the security benefits that prevent fraud and breaches, the operational assistance features of AI speak for themselves. These include lower operating costs, managing risk, automating workflows, and personalizing the end-users banking experience. 

Automation and personalization are what suggest the viability of a product or service to consumers in this day and age. Trends for 2023 present AI as a considerable contributor to the advancement of the digital banking sector, specifically for its ability to provide valuable options/advice and protect users' information.

Banks are a perfect example to look at when considering AI's impact in the present and future. For example, the Royal Bank of Canada (RBC) uses AI for several processes, including data analytics, the construction and implementation of applications powered by AI, and features that analyze financial forecasts. 

The common thread among these features is that they contribute to delivering an enhanced experience to customers fast and efficiently. An Insider study from this year found that 75% of banks (holding over $100bn worth of assets) are strategizing with AI and ML. They also found that this adoption rate sat at around 45% for banks holding less than $100bn in assets.

So what makes Artificial Intelligence so great?

When it comes to running a business, knowing your customer as best as you possibly can is everything. The traditional importance of human intelligence and the ability to build rapport with the people you interact with day-to-day is just as relevant in the digital world. Advising is a service that has been and forever will be sought after, which has made it consistently lucrative. 

The actual functioning that makes AI beneficial to the financial industry stems from its ability to manage data. Take the example of advisors at your local bank. If you go there looking for investment advice, AI-generated algorithms will help them find shares, funds, or bonds that suit your specifications and goals. 

Now, the liability that comes with managing people's finances is among the highest importance. Last year alone, companies saw a 53% increase in cyberattacks. This presents immense levels of concern for financial institutions, wealth management firms, and especially newly established neobanks who need to generate credibility around their product to succeed. The demand for state-of-the-art security has made financial institutions gravitate towards AI and ML technology. 

Here are three of the key features backing this movement: 

  • Fraud detection and compliance regulation: History has shown that the financial industry is not foreign to losing millions of investors' dollars. In the United States, efforts like the Sarbanes–Oxley Act of 2002 were meant to mitigate the impact of breaches and prevent them altogether by enforcing heavy penalties. 

For this reason, financial institutions have found it in their best interest to automate compliance using a Decision Management System (DMS). For fraud to be prevented, it needs early detection and consistent auditing. A Decision Management System makes this possible through its software and machine learning capabilities.

  • Lower risks and operating costs: Having a representative provide a personal touch at your institution is great. However, mistakes slip by people, which can incur seriously negative repercussions in the banking sector. This is where and why institutions will turn to AI-powered DMS. 

When it comes to something like onboarding, for example, DMS will make the process easier and lower the risk of missing something and causing an error. In turn, this will reduce the costs of labour and allow institutions to reallocate their resources from data entry to business development.

  • Better accuracy when evaluating investments: Institutions are constantly on the hunt for fruitful investment opportunities. This has made investment software a highly sought-after resource for its ability to provide suggestions that take into account how much risk the investor is willing to take.

The software can easily and accurately evaluate funding proposals from clients, which is especially useful when you consider how difficult and complex understanding industry-specific information is. Investment analysis software takes all the necessary variables into account to make this possible for the end user.

The key takeaway from this list is that AI and ML present new methods of data collection that deliver a far more efficient mode of managing funds and customer service. In turn, this will save institutions time and money while showing their clientele that they’re prepared to operate long-term. 

Process automation is a pillar of business development and service delivery in 2022. There is no doubt that this trend will only become more prevalent in the coming years. Right now, nearly 70% of companies use Business Process Automation (BPA) software

Three Easy-to-Grasp Changes:

  1.  AI provides a platform where fraudulent/suspicious activity can be identified quickly and prevented thoroughly.

  2. Financial institutions can better invest their funds and resources. In effect, customer apprehension will be mitigated which can grow the institution's consumer base.

  3. The experience of banking for customers becomes far more enjoyable through the flexibility and accessibility provided by AI.

What’s Next?

Businesses are always on the lookout for new ways to improve their services. Speed, quality, and solutions that suggest longevity are the minimum standard for a financial institution in today's market. Your efforts are going to require the right software that will set you up for success and keep your customers that depend on you.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

Changes to Expect in iOS Development for 2023

2023 is going to be the year of opportunity for iOS developers. Development teams who work frequently with iOS will see plenty of new bells and whistles in its OS functionality. In turn, these advancements will unlock new potential for creativity among programmers. Tech trends such as 5G, AR (Augmented Reality), and VR (Virtual Reality), along with the updated features from Apple, are among the major contributors to growing this margin for potential. 

Before we get into what this means for developers in 2023, let’s take a look at some of the changes revolutionizing the iOS landscape for developers:

5 of The Year's Most Exciting Technology Trends:

An iphone with its screen on lying on a table next to bluetooth headphones.

Artificial Intelligence and Machine Learning (AI and ML)

This technology is something we’ve commonly seen utilization of for identifying patterns/algorithms and predicting outcomes based on them. What’s unique about this technology is that it performs in this way without being directly programmed to do so.

Software that handles data whether it be storing, tracking, or predicting and personalizing has generated itself into a multi-billion dollar industry. For developers, this technology is great for quickly creating apps and improving their performance. Of course, this is in addition to its mass appeal to end-users who companies will be working hard to impress this year.

5G

In the world of mobile networks and connectivity, this is the latest and greatest technology for handling data in terms of performance and transferability. 5G (the 5th generation of mobile connectivity) is going to be the minimum standard for Apple and other companies' devices. 

Users can expect to see applications download and operate much faster, a decrease in latency, and an increased ability for connectivity among devices. This is one of the fastest technologies we’ve ever seen and it will be used to enhance other technologies such as Augmented Reality (AR) and Virtual Reality (VR).

Beacons

Retail businesses and consumers are going to love these devices. A wireless Bluetooth transmitter that sends relevant information to smartphones nearby is one of the biggest innovations in retail marketing. Imagine walking into a store and automatically receiving offers for coupons that you can opt-in to collect. This is the premise of a Beacon.

M-Commerce (Mobile Commerce)

This technology has risen in response to the demand for mobile shopping through apps rather than a website. Users want the ease of shopping on the go especially when geographical limitations are a factor. Even though their experience is digital, they want an application meant for mobile devices and don’t want to have to go through a website that was mainly meant to be accessed through a computer.

This solution gives businesses extended access to their market. The widespread adoption of M-Commerce presents plenty of opportunities for businesses and application developers to dominate a highly lucrative new market.

IoT (Internet of Things)

IoT Technology is simply adding smart technology to everyday objects such as a smart fridge or home security. These devices then send data that is stored and tracked in an app so the user (in this case the homeowner) always has access to it.

A person using a laptop.

Wearables

There are over a billion connected wearable devices which include everything from smartwatches, rings, or clothing that can be linked to an app. These apps are the most important component because they enhance the experience of wearing the devices. People love being able to track their activity. 

Over 70% of Americans claimed they would wear a device that tracked their fitness if it reduced their health insurance. Of course, based on the trends we’re looking at here, we could see that being a real thing in the future.

The Tool Box For Developers

If a development team is going to reap the rewards of what’s trending in tech this year, they must be aware of the following new features:

  • Fresh APIs: Apple developers have access to new capabilities through UI/UX API. These include live text, widgets displayed on lock and home screens, focus filters, MapKit, live activities, WatchOS 9, and more.

     

  • Innovations to Xcode 14: The enhancements brought to Xcode 14 have been designed specifically for boosting productivity. All devices can access the application and it has its icon as well as improvements in editing and language.

  • Xcode Cloud: This is already embedded in Xcode and it is a cloud service that works through constant delivery and integration for Apple developers to work in the cloud. Specifically, they can construct applications in the cloud as well as test and deliver them in a far more efficient way.

  • WhetherKit: With this new feature, developers will be able to display weather forecasts in applications. WhetherKit can be accessed through REST APIs and native Swift. Additionally, an Apple Developer Program membership can get you access to API calls.

  • Advancements in gaming: Who doesn’t love new ways to make iOS gaming experiences better? The latest graphic framework for Apple is Meta 3 which enhances performance, loads resources faster through new APIs, and gives access to a dashboard where activities can be seen. Oh, and it should also be noted that Metal FX is included for input rendering.

Two computer monitors displaying code.

What’s next for iOS Development in 2023?

As a developer or a software outsourcing business, there is a lot to look forward to in 2023. Opportunities are popping up left and right, especially for both desktop and native application development. Anyone looking to deliver the highest quality product needs to make a game plan for using iOS to capitalize on those opportunities.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.