Thursday, March 16, 2017

How to Optimize Your Sunk Development Costs?


Software development domain is highly volatile. Notions tend to fluctuate with due course of time as nothing is for permanent. Technologies keep on upgrading while methodologies revamp accordingly.
The only predictable thing in the tech world is its unpredictability.

Every year new notions emerge, mode of operations and deployment techniques revamp asking organizations to switch ways. The firms, which decide to stick to outdated procedures and strategies get themselves stuck in a state of deadlock while others, which act accordingly rise to the occasion.

The most probable reason why companies stick to previously followed concepts is their belief in invested money, time and resources over the years. They wish to continue in the hope to excel and flourish the foundation set by them earlier. They keep ploughing ahead in the hope to achieve what’s desired. This emotional standpoint often asks businesses to stick to the plan despite all other indicators pointing to failure.

But, do they prosper despite challenging the flow? Probably, not. The revision in strategies and implementation demand the attention of every business owner. They need to have a critical eye regarding current market trends and possess the ability to adapt to the changes happening in the market. As there is no pointing lingering on things where chances of return are close to none.

Organizations should not be attached emotionally to the decisions taken or investment made prior to the project. Prior investments, which can’t be recovered refer to the sunk development cost. Firms should look forward with a positive attitude and mindset in making future decisions. They are advised to explore future growth opportunities and put aside the project if there aren’t any.

Unfortunately, business owners tend to indulge in activities, which are the stories of past. They often become overly committed to activities of past despite their poor performance and results. Their future decisions reflect past and they decide to move forward on the same track in the hopes of attaining successful turnaround.

Huge money is pushed to make a doomed project a success, which is not a wise move if you want to optimize your sunk development cost. Human psychology often holds back leaders in adopting change, which contribute heavily towards sunk development costs.

There are several ways sunk development costs can be avoided allowing businesses to take decisions, which will reap sweet fruits in the end. The Past has already gone, but your future is still in your hands. It’s time to make wise decisions, switch ways and invest smartly. Here are few ways to achieve the same.
  • Re-think future goals
After being trapped in sunk-cost you might go clueless of what’s the future? You also might panic because of resources, money and effort you had put in, which is normal. But, it’s time to stay calm and re-think your strategy. Without thinking too much about past you need to focus on growth opportunities and viable options for a long-term ROI.

Exploring and analyzing upcoming possibilities will dictate your success. No matter if you switch ways or stick to the root plan, what’s important is your next move. Hence, it’s important to explore deep, scrutinize every little titbit and challenges that might accompany you in future before taking a final call.

Plan accordingly, discuss with experts, consult your analysis team and perform an extensive research before any further move as you can’t afford to take a wrong foot forward this time around.

  • Reassess user’s needs and business objectives
A software or an app is built to cater user’s needs and overcome challenges faced by them. The end user holds utmost importance and businesses need to take care of that. The scope, ROI and growth are ultimately relating to how the user reacts to the final product. Establishment of business goals and objectives are thereby important keeping the end users in mind.

According to user’s perspective, prioritize goals and act accordingly to achieve the same. Consider the most important features needed to integrate first then following the list come to the least important ones. This will make the picture clear knowing where to spend and what can be eliminated.

  • Invest like a pro
One of the most important factors, which as a business owner you need to consider is investment. Investing more on the failed strategy or investing in a new model, is the puzzling choice you have to make here. You need to invest smartly after analyzing all the factors that include your app’s value, competition, scope and target audience.

Justify your analysis on the above-mentioned points before you start once again in building your dream product. Make sure your app stands out of the ordinary and you offer more than your competition, which would not only add value to your product but will also enhance your brand’s image.

Ensure you do a thorough research of your target audience and their needs. Plus, also analyze the scope of making money with the continued development as you already have invested heavily in the project in the past.

  • Routine meeting schedule
It has been observed that most of the projects fail due to lack of communication or irregular track of project’s development. This raises concerns for organizations to keep up the morale of the team as well as the project’s progress rate. To overcome such cases a regular meet-up and discussion sessions between teams is required, which ensures the project is on the right track and if there are any issues they can be counterfeit.

The discussion reveals interesting ideas while growth possibilities become vast, which ultimately helps in project’s improvement.

  • Selection of development company
Another crucial aspect is the selection of proficient development team. Until the team cannot deliver results nothing can turn in your favour. You must be cautious while handing over a project to the development team. Make sure you have done enough research of the market for a perfect development partner. Some important points, which you need to take note before you finalize include,
  
a. Prior experience in the same domain
b. Development process followed by the team to achieve targets
c. Past efficiency in delivering apps within time frame
d. Average budget in getting the task done
e. Customer satisfaction rate

If you can satisfy yourself on the above-listed points, then it’s probably the right time to team with a web development company, which can understand, analyze and transform your idea into reality.

Monday, January 9, 2017

Big Data - What? Why? & How?

Big data- it’s big, trending and the future of how world interprets and analyze. It is changing the way of how world uses raw data to transform into meaningful business information. Learn what big data has to offer along with standards and paradigms.



Monday, January 2, 2017

How to Choose ideal Payment Gateway For Your Business


With startup balloon inflating at a high pace, businesses look to expand their reach by launching websites or mobile apps for showcasing their collection. Some look to conquer the digital arena by taking their brand from offline retail shop to modern digital store while some techies focus on building a marketplace for such business owners.

Whatever may be the case, each party looks to go online expanding business opportunities, growth prospects, an increase in revenue, wider reach and more happy customers. Building an e-commerce store isn’t an issue anymore. There are web and mobile app development companies who take care of the same from your project’s tender to maturity stage.

Launching an e-commerce store implies you’ll need a payment gateway for online transactions, which needs to be secure, easy to use, trustworthy and technically smart. People are apprehensive about the security of their personal details being leaked while performing an online transaction, which is right on their part.

There are numerous options available in the market but which one fits the bill? It isn’t as easy as stone skipping. Online stores need to try hard in order to find a perfect payment gateway provider. An in-depth research is required to find the best suit for your business needs.

There are large corporations which have ruled the market for more than 10 years while on other side of the court there lies a bunch of newbies who are innovative in their approach, technically sound and do things a different manner. So, the question is where to put your money on?

Before we move ahead in search of an ideal payment gateway, let’s first understand what does exactly a payment gateway means and how does it work?

Understanding payment gateway and its operations

For those who already know what a payment gateway is and why we require it, no need to ponder here and you can quickly move ahead to the following section, which takes you through the points to consider while choosing a payment gateway. Rest pay attention.

A payment gateway can be defined as a medium through which transactions are being processed between an online store and consumer. It enables a connection between the two allowing a secure and a direct transaction from consumer’s bank to service provider’s bank account.

How it actually works?

A connection is established by payment gateway between consumer’s bank and service provider’s website, which dictates the further terms that a transaction can be made or not. Following are the tasks performed by the gateway in real time to access if your credit/debit card is entitled to do an online transaction or not.

  • Fetches customer’s credit/debit card details
  • Seeks verification from the issuing bank (Accepted or declined)
  • Passes verification status to the customer visiting the website
  • If verification is positive and customer made a payment, then gateway accepts the payment from issuing bank and transfers to the acquiring bank
  • In the fund transfer process, gateways charge their cut and process the remaining from issuing bank to acquiring bank.

How to figure out which gateway fits the bill?

Here are certain points you need to consider before you seal the deal.

1. Integrated or hosted

There are basically two types of gateways- integrated and hosted. As the name suggests, integrated, it will be integrated into your store and visitor won’t be redirected to another platform for payment procedure. Unlike, in the case of hosted gateways where a website visitor is redirected to another platform for completing payment formalities.

Selecting a hosted gateway pops up several doubts related to its popularity, reliability and trustability. People would be reluctant in entering their account details on a platform which isn’t popular or seems unreliable to them, therefore impacting your conversion rates. Directing a customer off your website is always a risky affair.

Instead, integrating a gateway into your website is a smooth, seamless experience for you as well as your customers. If they make a purchase on your website, it means they trust you and they won’t give a second thought before sharing their account details on your website.

Both gateways have their pros and cons, it is advised to analyze the same before taking a final call.

2. Supports your business model

It is crucial to ensure at the start if your future payment gateway provider supports your business model. Go through their websites in the quest for finding a list of businesses they feel comfortable working with. It will save you a lot of time. There are providers, which don’t support businesses like dating, gambling, gaming, trade etc. while others might be up for an association. Also, check if they offer additional protection schemes as well like fraud detection, chargeback management etc.

3. Customer support

It is one of the important aspects if you run an online business. Your web visitors expect you to be available all the time for any query, doubt related to product’s size, color, availability or material. Similarly, you might also require support if in any rare case something goes wrong. Make sure gateway provider provides around-the-clock support.

4. Targeted audience (Local or Global)

Analyze what your targeted audience is? Do you want to reach global audience too? Do you ship internationally? There are local and global payment providers. Former can take care of all the transactions done via local banks, cards etc. while the latter comes with a plenty of new possibilities and support like multiple global cards support, multi-currency support, currency exchange settlements, alternative payments and much more.

5. Fees charged

There is a certain amount charged by providers in return for setting up the gateway and real-time transactions. This can vary from provider to provider, hence it is advised to research good before picking one. They generally charge on a percentage basis with every successful transaction done.

However, don’t get too excited by providers with low fees. They might entice clients with low pricing but can trouble in future due to lack of technology or expertise. Focus on the real cost of the system, considering technology involved, expertise and bank collaborations. You can definitely negotiate rates, but squeeze the lemon to a certain limit.

6. Security comes first

Security is crucial, not only for you as a business owner but also for your customers who’ll be sharing their personal details on your website. Hence, it is important to ensure that your gateway provider has everything covered and sorted around the same. Ensure maximum protection is achieved every time an online transaction is made on your website.

Effective online payments are one of the prime factors in determining the effectiveness of an online business. Don’t compromise on the same and ensure you have a reliable and safe payment gateway provider onboard. 

Thursday, August 11, 2016

On-Demand App Development Solutions

app development solutions


Need an On-Demand Service Application? Here is why you should consider Konstant Infosolutions as your one stop solutions for developing most prominent on-demand app. 

Request a FREE quote and we will get back to you soon with best suitable solution for your business idea.

Wednesday, August 10, 2016

Reliable Enterprise Mobility Solutions for Complex Business Processes

enterprise mobility solutions

Konstant Infosolutions stands as one of the top enterprise app development companies across the world. We have a varied team of technology experts providing highly interactive and secured enterprise applications for our clientele.

Do you need one? Before moving ahead, we recommend you to check our wide portfolio for our developed enterprise applications.

Wednesday, July 13, 2016

Monday, June 27, 2016