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

Zartrex 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 Zartrex.

Digital Transformation Technologies In E-Commerce

If we talk about using technologies for business development, we must understand what these tools are and how they are useful. Here, we will focus on the main and most popular technologies for digitizing e-commerce.

• CRM, ERP, WMS, TMS, SAAS, and database tools. These systems help you manage specific areas of your business: customer relationships, resources, warehouse, transportation, and data. You can even use your software as an additional source of revenue by providing it to other companies.
• Advanced analytics. Your data is a very valuable asset. You can’t let it disappear aimlessly. Thanks to analytics tools, you can use it to track the efficiency of your processes, employees, and resource utilization. This way, you can find flaws in your company and fix them, improve them, and turn them into advantages.
• AI and machine learning solutions. Artificial intelligence is gaining popularity because it offers the opportunity to entrust decision-making to a machine that is constantly learning from your own data. The efficiency of learning and correct decision-making depends on the amount of data. The more information there is, the easier for the algorithm to make accurate and correct conclusions.
• Internet of Things. This technology uses devices placed where you need them: on a person, on the ground, on equipment, or on transportation. With it, you can obtain the necessary information, make predictions, and make decisions. For example, in medicine, this technology is used to track the condition of patients and make diagnoses. In finance, it monitors the condition of machines, and in the agricultural sector, it obtains information about weather and soil conditions.
• Robotics and Process Automation (RPA). Robots have long performed many repetitive, simple processes in place of humans. Their introduction into your enterprise’s work can increase its efficiency many times if not dozens of times. Of course, this transformation also implies the development of special software for robotics control.

Each technology is used for a specific purpose, so the choice of one or a set of specific solutions depends on the company’s needs. However, each technology can be effectively applied in absolutely any sphere. The only thing that is important is to set a clear objective.

Key Stages Of Digital Business Transformation In E-Commerce

If we talk about the stages of digital transformation in e-commerce, they will be clearer and more consistent. These are the specific steps that need to be taken to achieve the desired result. Let’s take a closer look at them:

1. Defining the area of transformation. First and foremost, you need to set a clear goal. What exactly do you want to transform? How deep is it? What task needs to be accomplished, and what goal needs to be achieved? Without specific answers to these questions, you won’t be able to achieve results, which means all the effort (and resources) will be wasted.
2. Budget determination. Once you’ve determined exactly what you need to digitalize, you can also think about the budget for digital. This can be difficult, so we recommend that you first familiarize yourself with possible solutions and their costs, and calculate the payback and profitability of their implementation. Specific cases in your niche can help.
3. Developing a digital transformation roadmap. Everything is simple here. We will have a digitalization roadmap if we depict all our planned steps graphically. However, with specific initial data, the digitalization map can be detailed.
4. Selecting and implementing digital solutions. You must decide which solutions and tools you will use for your transformation. Then, find a contractor to build them for you and implement the plan.
5. Training your staff on new technologies. Your staff will need to learn new processes and digital tools, which will take time and resources. Your task is to organize the transition process properly.
6. Moving away from outdated technology. Perhaps you already had some solutions or tools that have not shown effectiveness. Sometimes, they can be integrated with new solutions, but in general, it is better not to hold on to the old and move to modern platforms at the first opportunity.

Zartrex Tech is equipped to support your digital transformation journey, providing the tools and expertise needed to thrive in the competitive eCommerce market.

Why Choose Zartrex Tech As A Digital Transformation Partner?

Zartrex Tech is a Ukrainian software development company with expertise in numerous domains, from EdTech to e-commerce solutions development. Why you should choose e-commerce digital transformation at Zartrex Tech:

• Expertise. We have been working in the e-commerce industry since 2015 and have gathered a reliable team of over 25 specialists with extensive experience in this area.
• Relevance. We follow e-commerce industry trends, communicate with leading experts, and attend thematic conferences in different countries.
• Effectiveness. We delve into the business goals of the project. We work out the task comprehensively. We select the best options to achieve the result.
• Transparency. We provide access to our system for tracking work and generate monthly reports on each plan item.

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. Let’s discuss your project!

The post How Does E-Commerce Digital Transformation Looks Like? appeared first on Zartrex.

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 Zartrex.

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 Zartrex.

What is the Internet of Things?

The Internet of Things (IoT) is a system that connects devices in a computer network and allows them to collect, analyze, process, and transmit data to other objects through software, applications, or technical devices.

IoT devices function independently, although people can customize or provide data access. IoT systems operate in real time and typically consist of a network of smart devices and a cloud platform to which they are connected via WiFi, Bluetooth, or other forms of communication.

What happens when the temperature is too high or there is a burglar in the house? The system alerts the user or takes further action, such as turning on the air conditioning or calling the police.

We also recommend you read our article about digital transformation in education.

What does the Internet of Things consist of?

In addition to Big Data, analytics, connections, devices, and experiences are also important for the Internet of Things to work. For simplicity, this principle is represented as ABCDE:

• Analytics is a key link in the functioning of the IoT. It connects the devices themselves and the data from them and optimizes business processes.
• BigData is stored in the cloud. They allow you to automate existing processes or build new ones.
• Connection comprises the channels through which devices receive and transmit information.
• Devices are connected to the system. Depending on the task, they must have an appropriate message frequency to work correctly.
• Experience means analyzing and rethinking existing experience in solving customer problems using IoT.

The IoT landscape constantly evolves, with new technologies and standards emerging regularly. Keeping up with these changes and ensuring compatibility with new developments can be challenging for businesses. This rapid pace of innovation requires continuous learning and adaptability to stay ahead in the competitive market.

How does the Internet of Things affect digital transformation?

The Internet of Things is the basis for innovation throughout digital transformation, and innovation is the growth of the economy and the improvement of the comfort of life. The IoT is a giant step in developing the economy with the highest productivity, profitability, and safety. IoT covers: 

• Science, helping production with new developments
• Education, focusing on the production of relevant personnel
• Social sphere, timely responding to the needs of society as a whole and the individual citizen

All this is possible thanks to the fast, necessary, and timely information obtained through the Internet of Things technology.

For example, thanks to the Industrial Internet of Things, citizens’ productivity and quality of life is improved. Standard processes are maximally automated by implementing industrial IoT systems, and the chain of production participants is easier to build. This increases the flexibility of production, timely release of the product, and quick delivery to the consumer.

It should be noted the positive impact of the Internet of Things on the development of the social sphere. For example, in the future, it is possible to create Smart Healthcare when IoT will help to provide remote monitoring of medical equipment performance and control all medical systems necessary for a person’s illness.

Medicine will become more accessible for regions, and chronic patients will be monitored remotely. Patients will be able to control their indicators with the help of sensors in the Internet of Things system.

Currently, the Smart City concept is being actively discussed. This system is being developed to improve city management and solve urban problems. The Smart City comprises highly intelligent parts according to the categories of urban environment, safe city, digital city management, investment climate, and people’s well-being.

Challenges in IoT Digital Transformation

The challenges in implementing the Internet of Things can be divided into technological and human resources:

• Technological problems result from the fact that the existing systems of maintenance, supply repair, and resource planning in enterprises do not allow for the introduction of new data collection tools.
• Staffing challenges are related to personnel, where technicians cannot convert from manual information collection.

The view that adopting technologies like Big Data or Data Science will be the panacea is wrong.

An organization needs to start by rethinking business processes and identifying digitalization tools requiring expertise. IoT-based predictive analytics may be the right solution. It can prevent excessive resource consumption and deviations in the technical condition of equipment and extend its lifecycle. All this reduces the risk of sudden production stoppages due to malfunctions and, therefore, eliminates direct financial losses.

Prognostics is the latest stage in the Industrial Internet of Things evolution. It implies that data collection is not just from equipment units. It is a local system with a distributed network where information from different sources comes into one storage. Then, it is processed and sent to the personnel servicing the devices.

How Zartrex Tech Can Help You with Digital Transformation?

Our Zartrex Tech team specializes in helping businesses navigate the complexities of digital transformation through IoT solutions. 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. With expertise in IoT platform development, data analytics, and cybersecurity, we provide end-to-end services to ensure a smooth and successful transition. 

Whether you need to integrate IoT devices with your existing systems, develop custom IoT applications, or secure your IoT infrastructure, Zartrex Tech has the experience and knowledge to support your digital transformation journey.

Cooperate with us and gain all the expertise we have gained over 15 years in the market. With Zartrex Tech, your digital transformation will be cost-effective and straightforward!

Conclusion

The Internet of Things is now becoming the main source of data, so the impact of this concept on the development of the economy, science, education, and social sphere is undeniable.

We can safely call the Internet of Things an engine of progress, an initiator of innovations in all spheres of life, a way to develop the economy and transparent public administration, make professional and timely decisions in public administration, and improve the quality of life of citizens.

The post How the Internet of Things Impacts Digital Transformation appeared first on Zartrex.

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, Canada’s financial market showed its resilience and ability to support the economy. This was made possible by the National Bank of Canada’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 Canada 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 Canada’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 Zartrex.

When set up correctly, blockchain offers a decentralized solution that minimizes intermediaries, enhances transparency, secures data, and prevents unauthorized access. This technology can serve as an alternative to traditional backbones when designing application architectures for Android and iOS. In this article, we will explore how to develop a blockchain application, along with blockchain app examples and costs.

What are blockchain apps?

Blockchain apps, also known as decentralized applications (dApps), run on a blockchain network rather than on a centralized server. They leverage blockchain technology’s properties to provide features that are difficult to achieve with traditional centralized applications.

Mobile blockchain application functionality

Mobile blockchain applications offer a variety of functionality that makes them attractive to users and businesses:

• Data storage. Blockchain technology provides decentralized data storage, which increases security and reliability.
• Smart contracts. The ability to use smart contracts to automate and enforce transaction terms makes everything more transparent.
• Tokens. They represent various assets on the blockchain.
• Transparency. All transactions and operations are open for verification.
• Accessibility. Mobile blockchain applications are available anytime and anywhere, providing ease of use for users.
• Increased efficiency. Blockchain technology reduces transaction and transaction times, improving operational efficiency.

The scope and specifics of the work, the required functionality, and the choice of technologies determine the price of blockchain app development. After the terms of reference are drawn up, an approximate cost can be obtained.

Benefits of a mobile blockchain application

Creating a mobile blockchain app offers some advantages that make it attractive to users and businesses:

• Decentralization and security. Blockchain provides decentralized data storage and a high level of security.
• Transparency and reliability. All cryptocurrency transactions and operations are open for verification, ensuring transparency and reliability.
• Efficiency and speed. Blockchain reduces the time it takes to complete transactions and operations, which improves efficiency.
• Ease of use. Mobile blockchain applications are available anytime and anywhere, ensuring ease of use for users.
• New business opportunities. Blockchain technology offers improved transparency and streamlined processes.

Blockchain can be used to create private networks for internal corporate use and public networks for widespread use. Blockchain technology can be used in real estate, FinTech, energy and sustainability, government and the public sector, e-commerce, supply chains, medicine, and education, as well as in organizing electronic document management.

5 examples of blockchain apps

Here are 5 examples of blockchain apps:

1. Crypto wallets. Crypto wallets are applications that allow users to store, manage, and transact with their cryptocurrencies securely. They interact with blockchain networks to facilitate transactions and provide a user-friendly interface for managing digital assets. Examples include MetaMask, Trust Wallet, and Ledger Nano S.
2. Decentralized Finance (DeFi). Platforms like Uniswap, Aave, and Compound allow users to lend, borrow, and trade cryptocurrencies without intermediaries.
3. Gaming. Blockchain-based games like Axie Infinity and The SandBox allow players to own, trade, and monetize in-game assets using blockchain technology.
4. Supply chain management. Companies like IBM and Walmart use blockchain to track and verify the provenance and movement of goods in the supply chain, enhancing transparency and reducing fraud.
5. Digital identity. Blockchain apps like uPort and Civic provide decentralized identity solutions, allowing individuals to control their own identity and personal data.

Blockchain apps represent a significant shift in how applications are designed and deployed, offering numerous benefits while also posing unique challenges.

How much does it cost to build a blockchain app? 

Let’s take a look at the important points that affect the cost of developing a blockchain application:

• Selecting a blockchain platform. The development cost will depend on the chosen blockchain (e.g. Ethereum, Hyperledger, Corda, etc).
• Complexity of functionality. The more complex functionality required in the application (smart contracts, voting mechanisms, etc.), the higher the cost.
• Design and user experience (UI). Complex design and user interface can increase the cost of development.
• Connectivity with other systems. Integration with other systems can also increase the cost of development.

Here’s a rough estimate of costs based on blockchain app complexity:

• Simple blockchain app: $10,000 – $30,000
• Medium complexity app: $30,000 – $100,000
• High complexity app: $100,000 – $500,000+

Working with experienced blockchain developers like Zartrex Tech and conducting thorough planning and budgeting can help ensure a successful and cost-effective blockchain app development process.

Blockchain application development process: quick overview

Developing a mobile blockchain app requires the following steps for the successful realization of the project:

• Project planning. You must define the goals and objectives of the application based on blockchain technology, analyze user requirements, and manage business processes.
• Selecting a suitable blockchain platform. You identify a suitable blockchain (e.g. Ethereum, Hyperledger, Corda). To make a proper choice, project requirements for your future mobile blockchain app are considered.
• Writing smart contracts. They define the blockchain application logic. Then, you must test smart contracts for security and correctness.
• User interface (UI) design. You develop a user interface that interacts with the blockchain. The usability of the blockchain app must be at the highest level. We at Zartrex Tech, for example, conduct usability testing of every IT product we create.
• Testing and optimization. You must test the entire blockchain application at various development stages. Optimizing app performance and security is also important.

If you need a reliable blockchain app development partner, contact our Zartrex Tech team. We have 15+ experts well-versed in diverse blockchain apps and have many successful blockchain projects behind our shoulders.

Blockchain application development process: interaction models

When building a startup blockchain app, there are 3 main interaction and payment methods: 

• Fixed price. The composition, cost, and timing of work are estimated and fixed at the start of the collaboration. This is possible with a valid requirements specification or terms of reference. The model is most effective in projects where the task is assumed not to change during the blockchain app development.
• Time & Materials. This flexible collaboration model is relevant for projects where a specification or ToR cannot be developed initially. This can happen, for example, due to changing requirements or a lack of time for preparation. In such a case, the blockchain app development cost is calculated when the project is ready.
• Hourly payment. In this approach, you pay for the hours of work developers do during a certain period. This approach is suitable for small projects or cases when you need flexibility in defining the scope of work and deadlines.

Payment is made at the end of each paid period, which allows you to control the budget and deadlines.

How can Zartrex Tech help you develop a blockchain app?

Our Zartrex Tech team is more than just a blockchain-development partner. We’re a reliable cornerstone in the realm of blockchain solutions. Here is what we offer:

• Analysis. We thoroughly analyze and determine the requirements before starting work. We develop the application according to your organization’s goals.
• MVP. We develop MVP as soon as possible so you can start testing the business model as soon as possible.
• Quality control. QA experts eliminate bugs in production. The code is standardized and easy to scale and maintain.
• Cross-platform app. Your blockchain app will work on all popular mobile platforms.
• Scalability. We consider scalability at the early stage of system creation. Later, you can develop the product without major redesigns.
• High load resistance. Your blockchain app will withstand thousands of simultaneous user requests.

Our Zartrex Tech team creates and finalizes blockchain applications in the shortest possible time. 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 How To Develop A Blockchain Mobile App: Examples And Development Process appeared first on Zartrex.

Developers are leveraging blockchain to transform traditional game design fundamentally. They’re decentralizing in-game economies, tokenizing achievements, and returning control to the players who drive the gaming world. This shift empowers gamers, giving them a stake in the digital universes they love and play in, making every quest, battle, and achievement more meaningful and rewarding.

What is blockchain?

First, let’s discuss blockchain and its main characteristics. Blockchain is often used in a financial context as something inextricably linked to cryptocurrencies. However, it is not exclusively a financial tool, and its applications can go far beyond supporting cryptocurrencies. 

In general, blockchain is a large digital data registry that stores information about certain assets. But these assets themselves can be, as in the real world, different. They can be cryptocurrencies or digital objects. Cryptocurrencies will have only economic value and will be fully interchangeable (you can exchange one Bitcoin for another, and nothing will change). Still, it will not be possible to simply replace one object with another (for example, two different digital paintings will not be interchangeable).

Such unique digital objects recorded on the blockchain are called NFTs (non-fungible tokens). These include digital game assets (e.g., swords, shields, and cards). Strictly speaking, in theory, there are different opinions on whether fully fungible game assets (e.g., swords that exist in quantities of 100 and have no unique characteristics) should be considered NFTs, but in practice, they are referred to as such.

A blockchain registry has several features:

• Decentralized. No single person/business/entity owns or controls the data in this registry. The data can be seen and used by everyone. 
• Immutable. The data in this registry cannot be changed. For example, Alexander has 10 Bitcoins. Until he spends them or sends them to someone else, he will always have 10 Bitcoins. No one can change this data. Hence, by the way, such a characteristic as transparency/provable ownership history. 
• Provable scarcity. Assets in such a registry are limited in number and cannot exceed the amounts set by their creator. For example, there can only be 21 million Bitcoins. For digital assets, these limits can be anything else; for example, special shields have been created, and there are precisely 100 such shields. 

Since this is a registry of asset data, the characteristic records in this registry will be information about the ownership of these assets and transactions with them.

Impact of blockchain technology on the gaming industry

So, what is blockchain technology’s impact on the gaming industry beyond the immediate changes in game mechanics? 

The main change is the transformation of player ownership of assets. Game assets are no longer tied to games but to the players themselves. Thanks to blockchain’s public and decentralized nature, asset ownership is transparent and protected from hacking. In this way, players’ time and money investments become much better protected. In addition, asset ownership becomes much more valuable by allowing assets to be used in different games. 

The transformation of ownership, transparency, security, and the broad applicability of assets give rise to new economic models and patterns in the gaming industry. However, don’t assume blockchain-based gaming models have no risks or drawbacks. On the contrary, such a link to finance coupled with the explosive growth of this trend is often an attraction for unscrupulous people, and the practical application of this technology in games is often criticized. Some of the drawbacks:

• Exploitation of NFT in unscrupulous schemes. For example, one of the largest NFT marketplaces, OpenSea, reported that about 80% of NFTs created with free tools are plagiarized or spam.
• The focus is on monetization rather than developing the game experience. Most existing blockchain games are monetization projects, where both developers and players focus on making money rather than developing the game experience—story, creativity, etc.
• Environmental damage. NFT transactions are most often conducted on the Ethereum blockchain. This network consumes a lot of electricity, which the company itself has repeatedly acknowledged. It has taken steps to drastically reduce its electricity consumption.

As we can see, blockchain technology has not just impacted the gaming industry. It has transformed it, giving rise to a new round of development at the intersection of gaming and economics. It’s too early to be definitive about the nature of these transformations. Still, they continue to happen before our eyes, and we’re likely to see many more interesting changes shortly.

We also recommend you read our article The Future Of Blockchain Technology In Education.

5 steps you need to develop blockchain-based games

Here are 5 main steps of blockchain game development.

Select a blockchain framework

Begin by selecting a blockchain framework that suits the game’s unique demands. Ethereum is known for its reliability. However, you might also consider gaming-focused blockchains like Ronin. They are designed to support high transaction throughput and low latency, which are critical for an optimal gaming experience.

Develop smart contracts

Smart contracts form the backbone of blockchain games. Developers must ensure these contracts efficiently handle complex game logic, rapid state changes, and interactions between multiple contracts. Optimizing smart contracts for high performance is crucial to managing a large volume of transactions quickly and cost-effectively, minimizing the computational resources needed, and reducing transaction fees (gas fees).

Consider graphics and art style

While the technical aspects of blockchain games, such as the backend and the blockchain system, often take center stage, the importance of graphics and art style should not be overlooked. A game’s visual appeal plays a crucial role in engaging and retaining players:

• Aesthetics matter. Ensure the game looks visually appealing to attract and retain players. High-quality graphics and a consistent art style can significantly enhance the overall gaming experience.
• Target audience. Tailor the art style to resonate with your target audience. For example, a game aimed at younger players might use vibrant colors and cartoonish characters, while a game targeting older players might opt for more realistic or sophisticated visuals.
• Character design. Develop unique and compelling character designs that players can connect with. Memorable characters can enhance the player’s emotional investment in the game.

By carefully considering graphics and art style, developers can create blockchain games that are not only technically robust but also visually captivating.

Establish game economics

Tokenomics is crucial in defining how the native token functions within the gaming ecosystem. This can include using it for in-game purchases or as reward for player achievements and participation. To encourage mass adoption, it’s essential to finalize the token supply and distribution schedule and ensure seamless integration with the game interface and traditional economies.

Implement security measures

Security in blockchain games encompasses protecting gameplay fairness and safeguarding user data and assets. Developers must defend against Sybil attacks and other spam tactics that can disrupt the network. Anti-spam measures like rate limiting, transaction fees, or prioritizing transactions based on token holdings or account age can be effective.

Why choose Zartrex Tech as a blockchain game development company?

Zartrex Tech is a Ukrainian software development company with expertise in numerous domains, from EdTech to blockchain solutions development. Why you should choose crypto blockchain game development at Zartrex Tech:

• Expertise. We have been working in the blockchain industry since 2018 and have gathered a reliable team of over 20 specialists with extensive experience in this area.
• Relevance. We follow industry trends, communicate with leading experts, and attend thematic conferences in different countries.
• Effectiveness. We delve into the business goals of the project. We work out the task comprehensively. We select the best options to achieve the result.
• Transparency. We provide access to our system for tracking work and generate monthly reports on each plan item. Let’s discuss your project!

The post Blockchain Game Development: How to Use Blockchain Technology in Gaming Industry appeared first on Zartrex.

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 Zartrex.