The potential of blockchain algorithms in interaction with smart contracts allows full management of the corporate ecosystem – to build internal business processes more efficiently and optimize connections with partners and customers.

This is proven by the introduction of:

• Internet of Things. IoT networks have demonstrated the simplicity and cheapness of organizing market research.
• Ripple network. It has become a payment bridge for many banks, saving them 60% of the costs of implementing less efficient systems.
• Blockchain solutions on exchanges. This has resulted in the elimination of huge numbers of data center servers.

Despite the apparent simplicity of blockchain technology, it is a complex process being implemented by both large giants of the IT and FinTech industries and startup companies. The industry is experiencing a shortage of specialists.

Blockchain Market Potential

The blockchain market has grown significantly over the past decade. This growth was driven by increasing adoption across various sectors. Initially associated primarily with cryptocurrencies like Bitcoin, blockchain technology has since found applications in a wide range of industries, including:

• Blockchain games
• Finance
• Blockchain in real estate
• Healthcare
• Blockchain in supply chain
• Industry
• Blockchain in education

According to Grand View Research, the global blockchain market is expected to reach $1,431.54 billion by 2030. The compound annual growth rate (CAGR) will be 85.9%. This explosive growth is being driven by several factors, including:

• Increasing demand for secure and transparent transactions
• Need for efficient supply chain management
• Rising adoption of blockchain in healthcare for secure patient data management.

Blockchain’s potential extends beyond these industries, with new applications emerging regularly. For example, the use of blockchain in the legal industry for secure and transparent contract management is gaining traction, as is its application in real estate for secure property transactions. In the finance sector, blockchain is being used to create more efficient and transparent mobile apps, reduce fraud, and enhance regulatory compliance.

However, with this potential comes complexity. Implementing blockchain solutions requires a deep understanding of the technology, as well as the specific needs and challenges of the industry in which it is being applied. This is where blockchain consulting becomes invaluable.

Who Are Blockchain Consultants, and What Do They Do?

Blockchain consultants are professionals with specialized knowledge and experience in blockchain technology. Their role is to help businesses understand how blockchain can be applied to their specific needs. They also guide them through the process of implementing a blockchain solution.

What Does a Blockchain Consultant Do?

Blockchain consultants work closely with businesses to identify opportunities where blockchain technology can provide value. This involves:

• Thorough assessment of the business’s current operations
• Technology stack
• Strategic goals

For example, a business in the finance sector may be interested in using blockchain to create a more secure and efficient payment system. A blockchain consultant:

• Assesses business’s current payment processes
• Identify pain points such as inefficiencies or security vulnerabilities
• Develop a blockchain solution that addresses these issues

In addition to strategy development, a blockchain consultant will help the business select the most suitable blockchain platform and tools based on its specific needs. This involves:

• Choosing between public and private blockchains
• Selecting the appropriate consensus mechanism
• Identifying the best smart contract platform

Blockchain consultants also guide security and compliance. Ensuring that the blockchain solution meets all relevant legal and regulatory requirements while protecting against cyber threats is essential. This involves implementing robust security measures, such as encryption and multi-factor authentication, and ensuring that the solution complies with industry regulations, such as GDPR or HIPAA.

Why Does Your Business Need a Blockchain Consultant?

Implementing blockchain solutions requires a deep understanding of the technology, as well as the specific needs and challenges of the industry in which it is being applied. This is where a blockchain consultant proves invaluable.

Avoiding Common Pitfalls

Blockchain technology is complex. Implementing it without the right expertise can lead to a range of issues. For example, businesses may choose the wrong blockchain platform. This leads to inefficiencies and increased costs. They may also fail to address security and compliance concerns, leaving their blockchain solution vulnerable to cyber threats or regulatory violations.

A blockchain consultant helps businesses navigate these challenges, from selecting the right platform and tools to ensuring that the solution meets all relevant security and compliance requirements.

Maximizing ROI

A blockchain consultant ensures that the blockchain solution is designed and implemented in a way that maximizes its value to the business. This involves identifying the most effective use cases for blockchain, designing a solution that meets the business’s specific needs, and ensuring that the solution is implemented successfully.

Quick and Agile Implementation

Hiring a blockchain consultant can significantly speed up the implementation process. Blockchain consultants have the experience and knowledge needed to quickly identify the best approach for the business and to guide the project through to completion. This allows the business to start reaping the benefits of blockchain technology sooner rather than later.

Key Blockchain Consulting Areas

Blockchain consulting covers several key areas, each critical to the successful implementation of a blockchain solution. These areas are the building blocks of any successful blockchain project. Blockchain consultants bring the expertise needed to ensure that each area is addressed effectively.

Strategy Development

The first step in any blockchain project is developing a strategy. This involves defining the goals of the project and determining the best approach to achieve them. A blockchain consultant works closely with the business to understand its objectives and to develop a strategy that aligns with its goals.

This strategy will take into account the business’s:

• Current operations
• Technology stack
• Industry-specific challenges

The consultant will identify the most effective use cases for blockchain and develop a roadmap for implementing the solution. This roadmap will outline the key milestones and deliverables of the project, as well as the resources needed to achieve them.

Technology Selection

A blockchain consultant will help the business choose the most suitable blockchain platform and tools based on its specific requirements. This involve:

• Selecting between public and private blockchains
• Choosing the appropriate consensus mechanism
• Identifying the best smart contract platform

The consultant will also ensure that the chosen platform and tools are scalable, secure, and capable of meeting the business’s long-term needs.

Integration

Once the blockchain solution has been designed and implemented, it needs to be integrated with the business’s existing systems and processes. This is a critical step in ensuring that the solution delivers its intended benefits.

A blockchain consultant will oversee the integration process, working closely with the business’s IT team to ensure that the solution integrates seamlessly with existing systems. This involves integrating the blockchain solution with:

• Existing databases
• ERP systems
• Other business applications

The consultant will also ensure that the integration process is as smooth and efficient as possible.

Testing and Deployment

Before the blockchain solution can be fully deployed, it needs to be thoroughly tested to ensure that it functions as intended. This involves conducting a range of tests to identify any issues or bugs and to ensure that the solution meets the business’s requirements.

A blockchain consultant will oversee the testing process, working closely with the business’s IT team to ensure that the solution is thoroughly tested before deployment. This involves conducting:

• Unit tests
• Integration tests
• Performance tests

Once testing is complete, the solution can be deployed.

Blockchain Consulting Process at Zartrex Tech

At Zartrex Tech, the blockchain consulting process is both structured and flexible, designed to ensure the successful implementation of blockchain solutions tailored to each client’s needs.

1. Initial Consultation

The blockchain consulting process at Zartrex Tech begins with an initial consultation. During this phase, Zartrex Tech’s consultants work closely with the business to understand its:

• Objectives
• Current operations
• Technology stack

This involves conducting a thorough assessment of the business’s needs and challenges and identifying opportunities where blockchain technology can provide value.

2. Strategy Formulation

Following the initial consultation, Zartrex Tech’s consultants develop a customized blockchain strategy tailored to the business’s specific needs. This strategy:

• Outlines the goals of the blockchain project
• Identifies the most effective use cases for blockchain
• Provides a roadmap for implementing the solution

We do everything at our best.

3. Technology Selection

With the strategy in place, the next step is selecting the right blockchain platform and tools. Zartrex Tech’s consultants draw on their extensive experience and knowledge to identify the most suitable blockchain platform and tools for the business’s specific requirements.

This involves:

• Evaluating various blockchain platforms and tools
• Assessing their strengths and weaknesses
• Selecting the best options for the business

SoloWay Tech’s consultants also ensure that the chosen platform and tools are scalable, secure, and capable of meeting the business’s long-term needs.

4. Solution Design

Once the technology has been selected, Zartrex Tech’s consultants design the blockchain solution. This involves creating a detailed blueprint of the solution, including its architecture, security measures, and integration plans.

5. Implementation and Testing

The implementation process is followed by rigorous testing to ensure that the solution functions as intended and that any issues are addressed before full deployment. This involve conducting:

• Unit tests
• Integration tests
• Performance tests

We ensure that the solution is reliable, secure, and scalable.

6. Deployment and Support

Once the solution has been tested, it is ready for deployment. Zartrex Tech’s consultants oversee the deployment process, ensuring that the solution is rolled out smoothly and that any issues are addressed promptly.

Conclusion

At Zartrex Tech, our blockchain consulting process is designed to deliver high-quality blockchain solutions tailored to each client’s specific needs. With over 14 years of technological expertise, we have a proven track record of delivering successful blockchain projects across various industries. If you’re ready to explore how blockchain can benefit your business, it’s time to get acquainted with the experts who can make it happen.

The post How Can Blockchain Consulting Help You Grow Your Organization? appeared first on Soloway.

As the EdTech market grows, trends also change. And you must be aware of them and use them in your educational app development to win the competition. In our article, you can check what technology trends in education will help your EdTech organization grow in 2024.

Technology Trends in Education: AI-Driven Assessments and Chatbots

Artificial intelligence being integrated into educational programs successfully addresses the personalization of education, which has become a long-term trend. One of the biggest advancements in 2024 is the emergence of recommendation systems that automate personalized approaches to each learning group or class. AI-based tutors help learn the material and prepare for exams.

Khan Academy can serve as a vivid example of how AI works in learning. Khanmigo virtual tutor, powered by GPT-4, integrates into all processes where students, parents, and educators may need help. Chinese company Squirrel Ai Learning is also developing AI assistants. The Socratic app from Google can analyze a problem in which a student has difficulties, explaining the logic of the solution and its variability.

In the future, the scale of integration of AI assistants in the educational process will grow. They will be adapted not for groups of students but for individual students and teachers.

Technology Trends in Education: Digital Textbooks and eBooks

Digital textbooks and eBooks are redefining education in 2024. In the U.S., around 80% of K-12 schools now use digital learning materials, and the global eBook market is projected to reach $21.73 billion by 2029. This growth isn’t just a trend; it’s a response to the practical needs of modern education.

For students, digital textbooks offer more than just convenience. A 2023 study by the Educause Center for Analysis and Research found that 67% of students reported better engagement with digital textbooks due to interactive elements like embedded quizzes and videos. Additionally, 58% of students said that the ability to highlight and annotate directly on eBooks improved their understanding of the material.

Cost is another critical factor. According to a report from the Babson Survey Research Group, on average, digital textbooks are 50-60% cheaper than their print counterparts. This affordability makes education more accessible, particularly in developing regions where textbook costs have been a significant barrier.

Technology Trends in Education: Immersive Technologies with AR and VR

Immersive technologies are actively penetrating EdTech. Businesses are actively using artificial intelligence to train their employees, and there are many reasons for this:

• VR technologies provide more effective training. Large companies are willing to invest in a startup of this kind if its business impact exceeds 5%.
• VR technologies allow companies to reduce costs. They are much cheaper for companies than traditional educational courses. Virtual assistants are also used to adapt new employees to the workplace. Thanks to them, other employees can avoid wasting their time introducing colleagues to the course of action and continue to do their direct duties.

VR technologies help schoolchildren and students visualize what they have learned, as well as train professionals and workers in new skills, including high-risk ones, without exposing them to danger.

Technology Trends in Education: Data Security and Privacy

EdTech pays special attention to protecting students’ personal data and privacy because the risks are increasing in parallel with the digitalization process. Hacking and large-scale data breaches are becoming increasingly common.

Online education platforms are responsible for the safety and security of all users’ personal data, acting as personal data controllers. Comprehensive information protection can be ensured by acting in two directions: data protection on servers and employees’ computers with access to the data.

To ensure security in online education, users’ personal data, application security, and protection from attacks must be in place.

Security information and event management (SIEM) can provide this level of protection. It allows you to monitor different areas of analytics and information security tools, combining them into a coherent scheme and eliminating blind spots.

Technology Trends in Education: Nano-Learning

Nano-learning is rapidly becoming a cornerstone of EdTech in 2024, driven by the need for efficient, targeted education. This approach involves delivering educational content in ultra-short segments, typically under 10 minutes. It’s designed to meet the demands of modern learners, who are increasingly balancing professional responsibilities with continuous education.

Research shows that learners retain up to 20% more information when engaging with content in shorter, more focused bursts. This contrasts with traditional methods, where retention rates often struggle to reach 5% after 30 days.

In the corporate world, companies that have adopted nano-learning strategies have reported a 30% increase in employee engagement and a 50% reduction in training costs. This is largely because nano-learning modules can be tailored to specific skills or knowledge gaps, making them highly efficient. A study from LinkedIn Learning highlights that 58% of employees prefer learning at their own pace, and 49% want to learn at the point of need—both key strengths of nano-learning.

In the education sector, nano-learning is not just a trend but a response to shifting student preferences. With the rise of mobile learning, 70% of students now access educational content via their smartphones, according to data from Statista. This shift has made nano-learning modules particularly attractive, as they allow students to learn in short bursts, whether between classes or on their daily commute.

Conclusion

Thus, we expect further development and growth of the popularity of online education in various directions: from integration into classical school education to training programs and courses for adults. The second, most obvious, and large-scale trend will be the widespread use of neural networks both in developing the content of training programs themselves and as assistants for teachers and tutors for students.

If you are looking for a reliable IT partner with whom you can confidently develop your EdTech project, our Zartrex Tech team is your best choice.

The post The Most Interesting EdTech Trends Of 2024-2025 appeared first on Soloway.

Consulting firm Accenture researched digital transformation in oil and gas in 2022. More than 200 oil and gas executives participated in the global survey. 70% of industry leaders and 50% of laggards consider enterprise-wide transformation to be the most important component of maintaining competitiveness.

According to McKinsey, comprehensive digital transformation in chemical companies can improve average earnings before interest, taxes, depreciation, and amortization (EBITDA) by 8.5%-16%. Earlier, Siemens research (from 2017) showed a similar efficiency estimate of at least 20% from digitalization implementation.

BrilaSoft report names the following benefits of digital transformation in the oil and gas sector: 

• 12-20% reduction in operating costs
• Reduction of unplanned shutdowns by 15-25%
• Improved refinery efficiency by 8-12%
• Improved health, safety, security, and environment in the workplace
• Improved labor force efficiency

That said, an earlier 2016 study by the World Economic Forum argues that digital transformation in the oil and gas industry could generate approximately $1.6-2.5 trillion in value for the industry, its customers, and society as a whole by 2025. We also want you to show impressive McKinsey statistics: open data in the oil and gas industry could generate between $240 billion and $520 billion annually.

Global Digitalization of the Oil & Gas Industry

Currently, all leading oil and gas companies worldwide are basing their development strategy on a digital transformation roadmap. The industry is implementing technological processes, as digital transformation is a significant competitive advantage. It contributes to the profitability of oil and gas companies and increases their stability in the market.

According to MIT Sloan Management Review and Deloitte, the oil and gas industry currently ranks 14th out of 18 sectors in terms of digital maturity, far behind sectors such as telecommunications, media, or retail. This lag makes this area attractive for development.

The growth prospects of the digital transformation market in the oil and gas industry are projected to grow at an average annual rate of 16.56% from 2022 to 2027, according to Technavio. The market size is projected to increase to $58.66 billion in 2027.

Since the introduction of digitalization, the industry has expanded its digital portfolio and is making bigger leaps yearly. The use of artificial intelligence, machine learning, data analytics, cloud computing, and robotic automation has paved the way for the digital transformation of the oil and gas industry. 

The main trends in the application of digital technologies in the oil and gas industry are summarized in the table below. It is based on several researches:

• Birlasoft 2022 report
• Birlasoft 2021 report
• McKinsey 2020 report
• McKinsey 2021 report

So, here are the directions for the application of digitalization in the oil and gas industry.

Examples of Digital Transformation in the Oil & Gas Sector

Many IT companies emerged that specialize in developing digital transformation platforms for the oil and gas industry only. They can be divided into 2 main groups:

• Large cluster corporations in the oil and gas sector that do not specifically specialize in IT projects, but develop and implement them to serve their companies. Such oilfield service giants include Schlumberger, Halliburton, CGGVeritas, and Emerson Electric.
• Large companies that specialize in developing and implementing IT products for the oil and gas sector include KappaEngineering, RFD, TGToil, Zartrex Tech, and others. For example, we at Zartrex Tech provide digital transformation consulting services.

In general, today the application of innovative technologies by major IT companies in the oil and gas sector has a wide range in the production sphere:

• Shell and Total emphasize the use of robots in oil production
• Chevron and Shell widely use drones for oil production
• Statoil uses 3D visualization tools to monitor production activities
• Chevron uses video analytics tools to prevent pipeline leaks
• BP is actively developing IT projects based on the Industrial Internet of Things and testing them on offshore oil platforms

At present, global oil and gas corporations already have experience in the development and effective implementation of IT products in production activities. For example:

• Within the research center in the French city of Pau, Total specialists are engaged in developing software capable of ensuring high accuracy in decoding seismic images of subsalt complexes. Such software can also design variable models of gOfrac fractured reservoirs. In addition, the concern is actively cooperating with Chevron to test the Intersect simulator, supplied by Schlumberger. This IT product makes it possible to model the processes of hard-to-recover reserves production and effectively plan field development.
• Like Total, Shell is developing and testing the MoRES simulator at its own R&D center. This simulator models the complete production system from reservoir development to surface development.
• BP-Amoco Corporation developed the Falcon simulator. This IT product is currently known as Nexus, and Halliburton now owns it.

The existing digitalization programs of oil-producing companies, first of all, today are aimed at the introduction of such IT products as cloud technologies, Big Data, digital twins, AI, and remote production monitoring. IT technologies prioritized for implementation in the next 10 years have also been identified. In particular, during the following 20-25 years, the main focus in the digitalization of the oil & gas industry will be on mobile platforms, 3D (4D) printing, robotization, blockchain, and VR/AR technologies.

Conclusion

Comprehensive implementation and use of digital technologies are an integral part of the fourth industrial revolution. In the competitive and volatile oil market, where every percent of savings counts, technologies such as Big Data, ML, and AI can significantly improve the efficiency of a company’s business processes—from production and refining to selling produced products to the end consumer.

Key market players have recognized the need for digital technologies. Most leading oil and gas companies have developed digitalization strategies and are beginning to implement them. If you need a reliable oil and gas digitalization partner, feel free to contact our Zartrex Tech team!

The post Harnessing Volatility: Technology Transformation in Oil and Gas appeared first on Soloway.

The financial sector was one of the first to introduce information technologies into work. Over the past 10 years, applications have appeared that allow you to conduct some operations from the comfort of your own home. The open banking concept appeared. And even online banks that have no branches at all.

The development was slow, and only in 2020 did the digitalization of banks begin to develop rapidly—otherwise, it would have been impossible to retain clients in the new conditions.

As a result, the companies that managed to pick up the digital transformation trend were the winners.

Embedding digitalization in the global financial system

It took 70 years from the creation of the first bank card to active digitalization in the financial industry. In the 1950s, the first magnetic stripe cards appeared in the United States, followed about 10 years later by ATMs.

At that time, the term “digitalization” was not yet in use, but the first steps towards its future development were taken.

In the 1970s, the first electronic trading platforms began operating, and systematization and automation appeared on the NASDAQ Stock Market. For those years, this was a big breakthrough. It simplified financial transactions. In the 1970s, the over-the-counter stock market was unsystematized and risky, but the situation improved with the help of a single organized exchange. The technology of automatic order placement and execution allowed traders to arrange more trades.

Then, in the 1980s, special electronic means of processing banking information based on specialized microcomputers became involved. This innovation allowed credit organizations to reduce costs. It became possible to equip the workplace of a bank employee with a computer.

The 1990s were remembered for the formation of the “financial technology” industry (FinTech) in the global market and the emergence of a special ecosystem that brought together innovative solutions and technologies in financial products and services. This ecosystem included startups, technology companies, financial institutions, and infrastructure players.

The 2000s are characterized by robotization, visualization, and the mass spread of the Internet. Today, information is not only a tool for creating value but also a commodity in its own right. Now, information has all the properties of a commodity – to satisfy a human need and the ability to exchange.

How is the financial market changing now?

The spread of COVID-19 dealt a severe blow to the financial markets, causing the world to rethink the system and introduce new instruments.

During the coronavirus pandemic, Ukraine’s financial market showed its resilience and ability to support the economy. This was made possible by the National Bank of Ukraine’s policy in previous years of cleansing the financial sector of weak and unscrupulous players and making financial intermediaries more resilient to shocks of all kinds.

Recent changes to the financial system in Ukraine include:

• Accelerated digitalization. There is a new reality in the world that encourages the government to pursue systemic economic policies through digital transformation. The government is providing support for digitalization.
• Ecosystem transformation. This combines mechanistic (regulations, instructions, schedules) and organic (values, meanings, communities, networking) management approaches.
• Mass entry of citizens into the investment market. More and more ordinary citizens are investing in stocks.

The application of digital technologies leads us to global changes in the principles of providing financial services and interaction between companies and clients, as well as an increase in the volume and speed of transactions. By the way, we recommend you investigate Ukraine’s digitalization path.

Thanks to the active development and use of platform solutions, consumer habits in the financial market are also changing. With the spread of the Internet, financial services have become more accessible, positively impacting customer experience. However, digitalization inevitably leads to competition and competition for customers. And even those organizations that used to provide only financial services are reaching a new level and expanding their boundaries. Ecosystems are being created.

In an ecosystem, many companies interact with the client and are linked by a single concept of working with clients. The client is provided with a wide range of services of both financial and non-financial nature. Although the services are different – the firm is one. In this way, it is possible to reach a large audience and also to challenge market players with traditional business models.

Financial digital transformation leads to a new attitude toward money

Digital money is already a reality. Payments with plastic cards, phones, and watches are commonplace. And we hear about Bitcoin every day. By the way, Bitcoin is not the only one of its kind. In recent years, about 3000 private cryptocurrencies have been issued.

The emergence of cards and online payments has led society to the fact that the very approach to finance, the attitude towards it, the structure of financial systems, and even the nature of money have changed—cash is becoming a thing of the past.

Everything now points to the development of artificial intelligence and the great potential for further growth of digital financial services. 56% of the world’s financial organizations have already made digital transformation a core business strategy.

The prerequisites for the development of digitalization of the financial sector can be considered to be:

• Low margin of banking services
• Desire of banks to partner with startups and technology companies
• Loss of banks’ monopoly on traditional services

Thanks to this, banks are able to achieve good results and strengthen their position in the market. It is already known that digitalizing banking processes has reduced banks’ costs by 10-15%.

Cloud technologies allow companies to serve customers remotely, reaching a larger audience. Now, almost any routine process, from the execution of a transaction to the preparation and sorting of documents, can be automated.

How can Zartrex Tech help you with Digital Transformation?

If you need a partner for digital transformation in finance, you’re in the right place. Our team at Zartrex Tech has successfully completed numerous projects in the financial sector over the years. Our experts are highly skilled in digital transformation for education projects and financial services.

We start by thoroughly analyzing your business goals and studying the market. Our aim is to create solutions that not only compete but also integrate seamlessly into your daily operations. This way, our clients can elevate their business within months of launching a new solution, without needing to hire additional staff.

When you choose us, you can trust that your project will utilize the latest technologies and meet current market standards, no matter the competition.

Additionally, we prioritize the security of the products we develop. We adhere to widely accepted cybersecurity standards and policies to ensure your business’s unique needs are met. Feel free to contact us right now!

The post Finance 2025: Digital Transformation in Finance appeared first on Soloway.

For companies, digital transformation is an opportunity to improve the customer experience and increase customer loyalty. It is a strategic shift in which companies that rely on outdated technologies turn to digital technologies to maintain their market position and stay ahead of the competition.

Why is digital transformation a prerequisite for success?

When a company becomes a buddy who can recommend the right product or offer a truly relevant value-added service, customers start to look at it differently and choose it not for the savings. People choose it for the communication, attentiveness, approach to work, and the value it brings to them. The shift to building relationships with your audience instead of buying their choice for a share of the margin is what true customer experience transformation should look like.

To have a friendly relationship with your customers, you must understand their needs and find new ways to fulfill them. Modern technologies that collect data and optimize all business processes within a company are beneficial. Ultimately, they help save time and money, increase efficiency, and push the company to grow.

The value of digital transformation should be clear to any company: if you eliminate friction and improve the customer experience, you’re taking a huge step towards increased profitability. And while the positive effects can be felt immediately after transformation, its real value lies in its long-term benefits and prospects. If a company becomes agile, it will be easier to adapt and scale.

If your company needs help, we at Zartrex Tech can provide you with our digital transformation consulting service.

What industries are relevant for digital transformation?

Retail and banking are the two sectors that first come to mind when considering digital transformation. Companies that are just thinking about it or at the beginning of their journey should be inspired by their experience.

In the case of retail, the breakthrough was not only the emergence of e-commerce but also the changes in the offline store experience. The retail experience has greatly improved for customers and the companies themselves due to the emergence of automated inventory and analytics systems. Convenience, along with promotions, loyalty programs, and e-coupons, has transformed the experience for shoppers. All of this has been made possible by technology and digital transformation.

Just a couple of decades ago, clipping coupons from newspapers and magazines was standard practice for shoppers who wanted to take advantage of a bargain offer from a store. Now, purchases are tracked by digital systems that give companies personalized information about a particular user. This information can be used to create effective advertising, coupons, and discounts that meet users’ real needs rather than shooting sparrows.

We also recommend you read our article Digital Transformation in Healthcare: Technology Acceptance and Its Applications.

5 reasons to invest in digitized customer experience

Customer experience (CX) is a customer’s perception of how they are treated by a company at all stages of interaction, from initial contact to post-sales service. The perceptions customers form influence their behavior and create memories and emotions that sustain or destroy their loyalty. 

The question always arises in the mind of a company manager: 

If we have a quality product or service, why should we spend money on improving the customer experience since our product is already competitive?

In reality, it’s not that simple – today, betting only on the quality of the product is not enough. Here are 5 reasons to invest in digitized customer experience:

• Increased competition. Companies need to stand out and attract new customers in a highly competitive market. Improving the customer experience can be key to success. Customers will value their unique experience when interacting with a company and choose its products or services again. 
• Transformation of customer preferences. Today’s customers are becoming more demanding and expect a high level of service and quality of care. They are willing to pay to improve their experience. According to PWC, it can be about a 15% increase in price.
• Digitalization. With the rise of digitalization, customers interact more with companies online. This requires the creation of user-friendly and intuitive interfaces that can improve the customer experience.
• Personalization. Customers appreciate a personalized approach to service. Companies can use customer data to create customized offers and improve interactions with each individual customer.
• Cost reduction. This can happen at every stage of the customer interaction. For example, a well-organized and qualified helpdesk can reduce the number of requests and the waiting time for a response. This can result in satisfied customers and higher ROI.

These benefits are clear to many entrepreneurs. According to a Metrigy survey, more than 65% of them intended to increase customer experience (CX) spending by an average of 24% annually in 2023.

Top 5 customer experience trends in terms of digitalization

For investments in customer experience to bring real benefits to the business, you need to bet on trends with greater potential and serious prospects. There are many contenders for this position and many examples of digital transformation.

For example, immersive customer experience involves creating new experiences with the help of technology (including VR and AR) or marketing initiatives that will capture the customer. Another example is using digital twins of customers, which makes it possible to simulate consumer behavior and work out problem areas without losses for the real business.

Some trends have already failed to meet experts’ expectations, although high hopes were associated with them. For example, feedback management platforms have stopped growing and are losing their relevance without finding a point of explosive growth. In our opinion, this is because such platforms are especially useful in tracking negativity, and the task of all services is to reduce negativity. So, the more efficient the services are, the less value there is in a feedback management platform.

At Zartrex Tech, we highlight 5 trends that, as our experience shows, have already proven their worth and will not lose their relevance in the coming years. They can and even should be relied upon when digitizing customer experience:

• Analytics and data storage. The more data a company has about the customer and his or her behavior, the higher the accuracy of forecasts, targeting, etc. Accordingly, the more accurate the hit to the customer’s needs and desires is. He who rules the data rules the world.
• Data-driven personalization algorithms. The more accurate the personalization, the higher the conversion and the lower the bounce rate. Thousands of small online stores are draining huge budgets in the fight for customers because they don’t have the data to properly target and personalize offers.
• Omnicanality. For any business, it is very important to study customer behavior not only in the digital product but also beyond it: email, social media, phone, real communication, etc. At the same time, customers are not ready to repeat the question they came up with at every touch point—you need intelligent identification and integration with CRM to track interactions across all channels.
• AI consultants (both text (chatbots) and voice (AI assistants)). Bots can learn much faster than humans and help the customer move down the funnel more accurately, maximizing customer satisfaction. This is especially true for voice commerce.
• CJM design and integration with CRM. CJM is a map of the customer’s journey, reflecting his or her real movement. As practice shows, this journey does not coincide with the funnel stages in the CRM system. This means that few people in the company understand what stage of their journey the client is at, whether he or she has decided to buy, in what mood he or she makes the payment, etc. Integration of CRM and CJM will make the path transparent and understandable. It will allow you to see what stage needs to be optimized, improved, and corrected. It will bring profit to the business.

Machine learning is the most influential trend and key technology in the digital customer experience. It has the potential to change everything, and we can’t yet predict the consequences of this transformation with precision. We can only outline some of the paths we will have to take.

For example, “old school” experts design interfaces, test, then launch, test again, gather feedback, redesign, test, and repeat this path for each project from scratch. Innovative approaches involve using AI technologies and machine learning to continually iteratively improve the interface design mechanism itself. In this case, meeting the needs and desires of the customer will become easier every year as data for training will be accumulated. Thus, the influence of the human factor on the result will be reduced. And this is just one example.

How are companies achieving digital transformation in customer experience?

Like all modern technology businesses, the technologies that underpin digital transformation can be divided into two categories: hardware and software. Beyond that, there is data—the lifeblood of all these systems.

Hardware is an important driver for companies relying on personal customer interaction. This is relevant, for example, for fast-food restaurants. Take McDonald’s or KFC, which have installed self-service terminals in thousands of their restaurants. Similar devices can be found at airports, where either the airport itself or airlines use terminals that allow you to check in for your flight and even drop off your luggage.

With this technology, brands give customers more convenience and customize a subtle merchandise sale. In fact, McDonald’s sales grew 5-6% within a year of installing self-service terminals. These terminals are part of the company’s own digital transformation strategy.

However, customer habits are changing slowly. For example, terminals for self-purchase tickets are also being installed at railway stations, but passengers still queue up at the ticket office. Nurturing new models of consumer behavior is another necessary part of digital transformation.

Companies should identify what prevents consumers from using new services and find ways to engage them. This can be done by providing training, explicitly demonstrating the benefits or incentivizing customers. At the same time, the first user experience must be successful and emotionally positive. For this purpose, at least in the first stages, you can help customers perform a transaction through a terminal, reward them with bonuses for online checkout, or offer special conditions for purchase through a mobile application.

The use of advanced technologies allows companies to build true personalized communication even with hundreds of thousands of customers:

• To be ahead of their expectations
• To react instantly to changes
• To offer those ways of interaction in which the consumer is interested, not the company

What should be the result of digital transformation? The consumer should be able to receive not just a product or service but a full-fledged emotional experience and value from interaction with the company. Then, they will become truly loyal.

How does Zartrex Tech can help you?

When a company embarks on its digital transformation journey, one key challenge is whether to buy the necessary software or build it yourself. Each approach has pros and cons.

The clear advantage of buying out-of-the-box solutions is saving a lot of time and freeing up resources that a company can use to improve its product or services for the customer. With your own software development, you get software with needed features and can update it further per your needs.

We at Zartrex Tech can help you with that. Our outsourcing software development company specializes in digital transformation solutions for retail, healthcare, real estate, e-commerce, and manufacturing industries. Feel free to contact us to discuss your digitalization pass!

The post Digitizing Customer Experience: Step-by-Step Guide for Business Success appeared first on Soloway.

It is unlikely that they would be interested in just sitting in class with a book and a notebook, writing everything by hand, and listening to a boring teacher. Therefore, we believe that it is logical to use digital tools in the learning process.

What is the digital transformation of education?

Digitalization of education is the use of apps, programs, and other digital learning tools in schools, universities, and distance learning courses. For example, students do not do assignments in a notebook but with the help of LMS on the Internet.

Digital technologies also concern the organization of learning. For example, teachers use electronic journals instead of paper journals, and parents write an email to the teacher instead of calling or going to school.

In 2024, digital technologies will be used by any educational institution—schools, universities, technical schools, and online schools.

Stages of digital transformation in education

Education digitalization has passed through several stages:

1. Mid-1980s—early 2000s. The first computers began to appear in schools and universities. Therefore, it became necessary to develop computer literacy. Initially, the technique was used only during computer science lessons.
2. 2000s—mid-2010s. In this era of education digitalization, computers began to be introduced to study all disciplines, even those unrelated to information technology. For example, history classes began to show documentaries, math classes began to use interactive whiteboards, and tests were given as homework in literature.
3. Mid-2010s—present. Now, it is important that information technologies penetrate the educational process everywhere. For example, paper textbooks are being replaced by online platforms, paper journals and diaries are gradually being abandoned, and electronic ones are being used.

It should be said separately that the third stage has completely changed the organization and goals of the educational process. Pedagogical methods have changed. Classes that actively use electronic textbooks and platforms differ significantly from traditional ones. For example, children spend most of the class acquiring information independently. The teacher only guides them.

The digital transformation has also affected online courses. Many people prefer to study online rather than attend offline classes. It is much more convenient: there is no need to go anywhere after work, and you can study at home from your smartphone anytime.

Key technologies driving digital transformation in education

Here are some of the key technologies driving digital transformation changes in the education industry:

• Cloud computing. Cloud platforms enable educational institutions to store data and resources online, making information accessible from anywhere. This supports collaborative learning and eliminates the need for local servers.
• Internet of Things (IoT). IoT devices and sensors gather data about learning processes, assisting teachers and administrators in making data-driven decisions.
• Artificial Intelligence (AI). AI personalizes learning by creating adaptive materials, automating assessments, and predicting student performance.
• Data Analytics. Collecting and analyzing data provides institutions with insights into student performance, allowing them to optimize instructional methods and programs.
• Virtual Reality (VR) and Augmented Reality (AR). They offer immersive learning experiences and help students visualize complex concepts.
• Machine learning and text analytics. They classify and process textual data automatically, aiding in developing intelligent learning systems.
• Learning Management Systems (LMS). LMS platforms provide tools for creating, managing, and distributing learning materials, as well as monitoring student progress.

At Zartrex Tech, we specialize in digital transformation projects. One of our notable achievements is developing Optima School, the first and largest online general education school in Ukraine. Optima School offers students a modern European education that is accessible from anywhere.

Digital transformation in education: challenges and barriers

Despite the benefits that education digitalization brings, it faces significant challenges and barriers:

1. Unequal access. Disparities in access to digital resources create a digital divide, particularly affecting underprivileged communities.
2. Inadequate training. Many educators lack sufficient training to effectively use new technologies.
3. Resistance to change. Both educators and institutions may resist adopting new technologies and methods.
4. Financial constraints. Limited funding hampers the adoption and maintenance of technological tools.
5. Data privacy concerns. Protecting student data in a digital environment poses significant challenges.

Overcoming these barriers requires investment in infrastructure, professional development, and inclusive policies to ensure all students benefit from technological advancements.

Digitalization trends in modern education

There are 3 trends in digital education we highly recommend you use in 2023:

• Microlearning. The trend of expertise in one field is becoming more and more sustainable. Narrow skills rather than broad knowledge in the entire field are now valued. For example, instead of training mobile app developers, online schools make two different courses: for iOS developers and Android developers. This approach allows you to get the right knowledge faster to become an expert.
• Artificial intelligence in the role of a teacher. This trend has been developing for about five years and is now becoming one of the main trends in education. Artificial intelligence still cannot fully replace the teacher, but it can become a helper, an assistant, and a supplement.
• Gamification. Entertainment + education is a relatively new model. It allows you to impart knowledge in an interesting form, helps to keep students’ attention, and motivates them. For example, foreign languages are increasingly taught through popular movies, music, and memes.

Implementing these trends is possible both in schools or universities and in online courses. Zartrex Tech can help you implement any digital transformation trends.

SoloWay Tech – your reliable partner for digitizing educational projects

For the past 15 years, we have worked in the international IT market of the USA, Central and Eastern European countries, and Turkey, gaining extraordinary expertise. Our Zartrex Tech team understands all the ins and outs of digital transformation in education. Cooperate with us and get all the expertise we have gained for 15 years in the market. Make your digital transformation cost-effective and straightforward with Zartrex Tech!

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Key principles of blockchain technology

Blockchain technology allows large amounts of information to be systematized and handled without intermediaries. To put it even more simply, it is a new way of storing data. Several key principles underlie how blockchain technology works:

• Decentralization
• Transparency
• Immutability

Let`s discuss these key principles in more detail.

Blockchain technology in education: decentralization

Decentralization eliminates the ownership of a database by a single governing body. Imagine you are playing a computer game. You develop your character, buy items, and spend your money on them. And then a conditional programmer-creator erases the virtual world and all your investments along with it. This is how classical databases work: information is stored on the server of one administrator who manages it alone.

In decentralized systems, data is distributed among all the computers in the network. Network participants have equal rights in information management. And they do not turn to intermediaries to approve an action but approve it themselves. Thus, data stored in the blockchain is protected from server hardware and cloud infrastructure problems.

Blockchain technology in education: transparency

Transparency between participants reduces bureaucracy, costs, and errors. No one can add, delete, or edit files without being seen by the rest of the network. For example, it will not be possible to falsify exam results, add a fake diploma to the database, or change the list of students who have paid for their studies. Network participants can trace the source of questionable information step by step. An unprecedented level of trust is created between users of the blockchain platform.

Blockchain technology in education: immutability

The immutability of data precludes correcting the date of creation of files and editing their contents retroactively. In other words, everything that goes into the blockchain stays there. Our article about blockchain in e-commerce will help you better understand this principle of blockchain technology.

How can blockchain technology be applied in the education industry?

We hope you now understand the key principles of blockchain technology. Now, let’s examine how it can work in practice.

Tracking diplomas and certificates

Storing information on blockchain protects employers from fake certificates and diplomas. To check a diploma, you don’t need to pull up all the archives, you just click a button in the app. It is impossible to falsify the date of issue of a document, “backdate” copies, or steal forms. This is also a plus for graduates – they don’t have to carry paper copies and don’t have to worry about them getting spoiled or lost.

The first digital diplomas were issued in 2017 to Massachusetts Institute of Technology employees. Today, digital diplomas are issued in more than 20 countries.

Issuance of grants and education loans

The process of issuing education loans and paying for studies is not easy. Checking credit histories and determining the terms of the loan takes time. Blockchain will help reduce the loan decision time to a day. The same system will simplify the complex grant process and make it more objective.

Copyright and anti-plagiarism

If a group of students works on a project, the blockchain can easily track each participant’s contributions. This can help with disputes around copyright and monetary rewards. In addition, blockchain makes it easier to track plagiarism. The possibility of being rewarded incentivizes users to look for borrowings and add them to the database.

Motivational systems

Personalized personnel motivation systems implemented on the blockchain are an alternative to classic bonuses, often depending on the manager’s subjective evaluation.

Brightside Academy Ohio, a network of 14 private kindergartens in the US state of Ohio, was one of the first to implement blockchain in its teacher motivation system. It works the following way:

1. Administrators create tasks in a closed blockchain system and assign rewards for them in internal digital currency – tokens.
2. Tasks can be different, such as organizing excursions for children, extra work on weekends, or promising not to be late for work for a month.
3. The teacher completes the task and enters a report into the system.
4. Other administrators in the network validate it.
5. The teacher receives tokens in his or her account. He or she can convert them, for example, into certificates on Amazon.

In this way, the motivational program becomes a fun game for the participants. Administrators can see the history of token transfers, identify the most motivated employees, and promote them.

A similar motivation system can be integrated into business education. Blockchain gives more options for grading practical assignments. And the tokens earned by students can be spent, for example, to buy bonus lessons or business school merchandise. In this way, gamification, a powerful trend in education, will be added to the learning process. Teachers and mentors will also benefit from the blockchain platform. In the system, tracking students’ future career progress and receiving bonuses for contributing to their development will be possible. After all, it is the students’ achievements that shape the teacher’s reputation.

Our Zartrex Tech team can help you implement any blockchain-based educational project!

Challenges of blockchain technology in education

Blockchain technology also comes with its fair share of challenges:

1. Integration complexity. Implementing blockchain technology in education systems requires significant technical expertise. Integrating it with existing infrastructure and ensuring interoperability with other systems can be complex and time-consuming.
2. Scalability. Blockchain networks face scalability issues when it comes to handling a large number of transactions simultaneously. In education, where millions of students and educators may interact with the system concurrently, scalability becomes a crucial challenge.
3. Cost. Developing and maintaining blockchain networks can be expensive. Educational institutions may find it challenging to justify the costs associated with implementing blockchain solutions, especially if they lack a clear understanding of the long-term benefits.
4. Data management. While blockchain offers immutability and transparency, managing data on the blockchain requires careful planning. Educational institutions must decide what data to store on-chain versus off-chain and establish data access and governance protocols.
5. Security concerns. While blockchain is often touted for its security features, it’s not immune to vulnerabilities. Smart contract bugs, 51% attacks, and private key management issues are just a few examples of security concerns that need to be addressed to ensure the integrity of educational data stored on the blockchain.
6. Interoperability. Different blockchain platforms may not be compatible with each other, leading to interoperability challenges. Educational institutions may find it difficult to collaborate or share data seamlessly across disparate blockchain networks.

Addressing these challenges requires collaboration among educational institutions, technology providers, regulatory bodies, and other stakeholders. Despite the hurdles, blockchain technology holds promise for transforming various aspects of education, from credentialing and student records management to content delivery and academic research.

SoloWay Tech – your reliable blockchain-development partner

Our Zartrex Tech team is more than just a blockchain-development partner. We’re a reliable cornerstone in the realm of blockchain solutions. Our expertise spans various facets of blockchain technology, including smart contract development, decentralized applications (dApps), tokenization, and blockchain integration. Whether you’re a startup looking to tokenize assets or an enterprise seeking to streamline operations through blockchain implementation, we offer comprehensive blockchain-based solutions designed to propel your project forward.

The post The Future Of Blockchain Technology In Education appeared first on Soloway.

If you are a business owner or CEO, ask your HRD what these acronyms mean: RPA, WFM, ATS, LMS, BI. Have all the questions been answered?

If you are an HRD, ask yourself similar questions. If you know about these technologies, ask yourself: why haven’t I implemented this in the company so far?

The simplest example of HR digitalization

Why do companies need digital HR transformation? What is its business value? The answer is simple: they save payroll funds and time and get things done faster, directly impacting business efficiency.

By implementing HR Electronic Document Management (EDM) and digitally signing HR documents, you can reduce the number of HR staff. Without EDM, the number of employees per 1 HR specialist is usually 300-400 people. With the implementation of EDM, 1 department specialist can administer 700-800 people.

You probably see the savings in terms of payroll funds. However, if you calculate the entire project economics, including clerical, postal, and logistic costs for document delivery, we are talking about several hundreds of thousands per year.

Improving business efficiency should become one of the HR department’s focuses. American professor, lecturer, and author of HR books Dave Ulrich has formulated 4 questions that you will have to answer in order to realize the digital transformation of HR:

1. Why do we need a digital transformation of HR? The world is changing – HR is no exception. Take a close look at your competitors. HR’s digital transformation strategy cannot go against the company’s digital transformation, and vice versa. For example, if a company implements digital transformation, it is necessary to use a digital signature and sign HR documents via SMS or other specialized services.
2. What does the digital transformation of HR mean? Digitalization is the result of the activity. We must understand the final product or service we will provide to our employees and the value created for the company by accelerating mass recruitment and automating the adaptation system.
3. How will the digital transformation of HR be accomplished? You should have a digital transformation strategy that clearly defines how you will transform certain HR functions and in what timeframe.
4. Who will implement the digital transformation of HR? There is a big deficit of HR specialists with competencies in business process automation on the market. This deficit will grow rapidly due to the total digitalization of all sectors of the economy, including the digitalization of the public sector. Before starting work on the digital transformation process, examining whether your team has enough knowledge and skills to implement digitalization and automation of HR business processes is important. It is also important to understand whether they have the necessary soft and hard skills to develop products and manage such projects.

By the way, the HR digitalization process is similar to digital transformation in healthcare.

How to create an HR digital transformation strategy in 4 steps?

Here are 4 main steps to take to create a digital transformation strategy for HR:

1. DEX research. Over the past few years, HR has become familiar with the term Employee Journey Map (EJM)—an employee’s life journey within a company. It has now been replaced by another term—digital employee experience (DEX). It shows how effectively people interact with IT tools in the workplace, enabling them to be engaged and productive. It needs to be researched, described, and improved internally.
2. Visualize the architecture of all your HR systems. You should understand how many systems are inside HR and whether they are “friends” with each other.
3. Diagnose the maturity level of automation and digitalization of HR processes. Evaluate the integration of automation tools and digital platforms within HR operations, identifying areas for improvement and optimization. Analyze the efficiency and effectiveness of digital HR systems in streamlining tasks, enhancing employee experiences, and supporting organizational objectives.
4. Describe the HR digital transformation strategy for each HR function and the tactical steps for its implementation. Your strategy must cover recruitment, onboarding, performance management, training and development, and employee relations.

To change the traditional HR route to the new digital HR, you need a vision, knowledge, and strategy for your company’s new trajectory. You can start with small innovations because even small deviations from the usual route can lead to big changes. Look for a reliable IT partner? We can help you digitize your HR processes!

Key technologies in HR digital transformation

Here are 5 key technologies that play significant roles in HR digital transformation:

1. HR Management Systems (HRMS). HRMS platforms are comprehensive software solutions that integrate various HR functions such as payroll, recruitment, onboarding, performance management, and employee data management into a single system. These systems automate routine administrative tasks, streamline processes, and provide valuable insights through analytics.
2. Artificial Intelligence (AI) and Machine Learning (ML). AI and ML technologies are increasingly being used in HR for tasks like resume screening, candidate sourcing, predicting employee turnover, and analyzing employee sentiment. AI-driven chatbots are also utilized to handle employee queries and provide support, enhancing HR service delivery.
3. Data Analytics and Predictive Analytics. Data analytics tools enable HR departments to derive actionable insights from large volumes of employee data. Predictive analytics models can forecast employee turnover, performance, and satisfaction trends, helping HR professionals make informed decisions and develop proactive strategies.
4. Employee Self-Service Portals and Mobile Apps. Employee self-service portals and mobile apps empower employees to access HR services and information independently. These platforms allow employees to manage their personal information, request time off, enroll in benefits, view pay stubs, and communicate with HR representatives conveniently, thereby improving efficiency and employee satisfaction.
5. Virtual Reality (VR) and Augmented Reality (AR). VR and AR technologies are revolutionizing various aspects of HR, especially in training and development. VR simulations can provide immersive learning experiences for employees, enabling them to practice skills in realistic scenarios. AR applications can also be used for on-the-job training, remote assistance, and enhancing employee engagement.

These technologies collectively enable HR departments to become more strategic, agile, and data-driven, ultimately driving digital transformation within organizations.

Digital HR example: chatbot for personnel assessment

A chatbot is a universal tool that can be used at all stages of employee evaluation. Many companies systematically integrate chatbots into their existing HR infrastructure. A chatbot can be multi-platform or implemented on one of the channels of your choice: Telegram, Viber, Slack, Facebook Messenger, etc. It can create surveys of different complexity and select a group of employees for them. Survey results are displayed in the form of visual statistics.

Technological advantages of such a chatbot:

• Quick access to information. Chatbot technology allows you to keep the necessary information always near you and quickly use it at the right moment.
• Evaluation time control. The chatbot allows the employee to take the assessment in a comfortable time frame, which greatly affects the test’s objectivity.
• Automatic data analysis. All data received during testing via chatbot are automatically structured and formed into a report or dashboard.
• Action chains. Chatbot allows you to build more flexible testing chains. Depending on the subordinate’s answer, it can send one or another type of test to his/her superior.

Think about how to adapt your company’s operations to use various forms of digital technology.

SoloWay Tech – reliable IT partner for your HR digitalization

Having worked for the past 15 years in the international IT market of the USA, Central and Eastern European countries, and Turkey, we have gained extraordinary expertise. Our Zartrex Tech team understands HR transformation from the perspective of the implementing company and the customer. Look for a reliable digital transformation partner? Contact our Zartrex Tech team!

The post The Ultimate Guide to HR Digital Transformation appeared first on Soloway.

Information technology is the foundation for the entire company’s digitalization. It also opens up great opportunities for traditional market players who are not digital companies by nature. However, the IT fairy tale of using your own servers in the evening, migrating to the cloud overnight, and waking up with new business the following day doesn’t happen in the real world. Digital business transformation examples look a little more complicated than that.

How cloud services became an engine for digital transformation

Since the late 2010s, cloud technology has become commonplace for many companies. Still, this is not comparable to the pace at which it is being adopted now or the scale at which it will happen over the next five years.

Typically, companies choose one of two ways to begin digitalization: either implement the changes in-house or create a parallel transformation office. The first option allows for a basic infrastructure migration to the cloud with few resources. The second option, with a new team, is more effective. The transformation office conducts a general audit of the company’s business processes, identifying divisions where there are resources for improvement and opportunities for transformation. It gradually builds the digitalization paradigm into specific chains of the enterprise’s activities.

Traditionally, large companies order a strategic digital transformation project from the Big Four accounting firms, receiving a volume of documents as an output. After prioritizing the top-priority tasks, the digital office starts implementing the strategy. It is common for a consultant who supervised the project as a contractor to join the digital office.

Often, our clients come to our Zartrex Tech team with specific requests: they realize that cloud services can help them reduce costs, optimize resources and solve the problem of launching a new product.

At this stage, we engage a digital transformation consulting team that:

• Gathers information, conducts up to 40 interviews with company employees during the audit, processes the data, and translates the customer’s wishes into IT language.
• Offers expertise in the choice of tools. Specific tools are required for certain tasks. An audit usually takes at least a month.
• Evaluates the feasibility of using the cloud by comparing the total cost of operations before and after the innovation. These complex calculations consider the hours of operation of the managed database, personnel, electricity costs, rent, risks of equipment downtime, and many other parameters.

IT does not live in a separate world. While solving local problems, changes are still pursuing the goals of gaining more market share, increasing revenue and business margins, etc.

Cloud technology is a derivative of the global digital transformation process. In most cases, it is the right and comprehensive tool to implement and support business processes. For many companies, using cloud services is the first stage of business digitalization.

For example, a business needs to work with the company’s logistics data and build an optimal transportation route, considering traffic jams, weather, and the number of stops. The task is solved using machine learning models (neural networks). This is not classic IT, and it is difficult, expensive, and time-consuming to attract large teams of data scientists and run such services on your own hardware, so just using the cloud to solve it already leads to significant savings.

Why can’t any business just move to the cloud and feel the savings effect?

This is because the cloud is not a panacea. The process of implementing the obvious tools of digitalization implies a change in approaches to the use of IT within the company as a whole. 

Imagine that IT resources, services, and applications are available in unlimited volume at anytime. Let’s say the marketing department needs resources to launch a promotion. This procedure consisted of a string of actions: justifying the allocation of funds, purchasing equipment and servers, and configuring them. Now, the business user automatically receives the necessary resources, uses them, and suspends the work when the task is solved, reducing the associated costs. This changes the company’s IT usage paradigm: launching a new product has become as feasible as writing a letter to supply pens to the accounting department.

Another trend affecting the digitalization of business is the emergence of many cloud-based platform services that do not require lengthy preparation and configuration. They can be used here and now. With the click of a button, a database with ready-made settings is deployed, information is uploaded and analyzed, and the company concludes the product launch. All this happens in cloud systems, and we do not worry about the resources or the staff of specialists who will customize everything from scratch. 

Earlier, IT specialists were engaged in the routine process of infrastructure and software maintenance up to 60% of the time. Now, they become involved in the work of the company’s business units, participating in developing new products and creating business value.

External and internal factors of moving to the cloud

Businesses are being pushed to transform by stagnation risks and external conditions, such as a highly competitive environment. If large companies had not started the long process of embedding new technologies in their time, they would not have felt the effect they are seeing now. 

The retail industry considers the concept of an average check essential, so many companies apply mathematical models to calculate customer needs. Although the development programs of popular retail chains are designed for up to four years, their business has certainly experienced quick wins by identifying and correcting the most painful points.

Audit of a separate block of such a client’s business may take 2-4 months. Implementation of innovations – up to another 4 months, but it follows that the company will be able to get significant benefits within the first year. By the way, digital transformation in the supply chain greatly raises performance to new levels.

At the same time, external factors limit the opportunities for using cloud technologies in other industries. The banking industry, for example, is heavily influenced by national regulators and corporate regulations that restrict the transfer of infrastructure, data, and applications to the cloud. However, companies under strict regulatory oversight do not need to move all of their IT systems to the cloud to start the digital transformation process. In such cases, a hybrid scenario is used, where some data is used locally and others in the cloud.

Different departments of corporations often have different resource needs, resulting in different IT infrastructures and business applications. The cloud helps equalize this system. Unifying technological solutions with the help of cloud technologies saves money and allows you to work efficiently. Suppose a company or a group of companies sees the digital transformation of business in the creation of an ecosystem. In that case, the cloud becomes almost the only option for realizing such a strategy.

Of course, you must choose the right moment to move to the cloud. When a company still amortizes its capacities, immediate migration to the cloud will not be cost-effective. At the same time, there are non-market factors that reduce the economic effect of moving to the cloud. For example, if the company owns the data center, and the enterprise does not incur additional license costs or has insignificant payroll and electricity expenses.

But even accounting for these nuances, the growing number of requests for digitalization using cloud solutions compared to the previous decade suggests that businesses see the cloud as an opportunity to improve their competitiveness and productivity. Digital transformation is completely changing business processes—from the approach to product development to corporate values and company development.

Conclusion

Cloud services continue to attract enterprises even as they struggle to migrate their infrastructures. Some companies are moving faster, others slower, but the process is irreversible. The movement to the cloud has been gaining momentum for a decade: running infrastructure and assets in a virtual environment gives companies a meaningful advantage in a rapidly changing competitive environment on the cusp of the Fourth Industrial Revolution, which puts the customer at the epicenter of commercial relationships.

Feel free to contact our Zartrex Tech team to integrate your company with cloud services!

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