How and where to Integrate RPA in your business

Robotic process automation benefits, rpa cost savings, RPA implementation cost

There is a consistent rise in the use of artificial intelligence and digitization and there is no stopping it except the challenge that every enterprise is facing, i.e. increased expenses and inefficient processes. Some process may require manual data reconciliation, abolishing old business applications, media disruption and more. Robotic process automation benefits can solve these problems if integrated in the correct way.

Robotics integrates with the existing system applications and performs the daily routine functions automatically. This leads to minimal manual workforce and there is a smooth flow of operations, which further leads to error free completion of tasks.

There are some instructions that need strict compliance:

1) Find the right placement

RPA implementation cost depends on the processes required but It cannot be applied to every process or procedure in the company. They need to do some pre work to understand where robotics can be placed. Robotic process automation can be applied to daily rule based processes which contain large volumes of data on multiple platforms.

2) Understand and disentangle workflows

It is important to define and disentangle daily processes. Frequent re-occurring procedures should be clear and organised. Robotics will work best under such circumstances.

3) Data processing and zero human involvement

Robotics is profitable in collecting data and processes huge volumes of data in few minutes. Data processing and storing is made easy by automatically transferring data across various platforms. Hence mistakes in later processes can be limited if initial stage of data processing can be atomised. This makes Human workforce to work on high profile jobs like quality assurance and client engagement.

4) Evaluating proficiency and scalability

RPA software is known for increasing quality of work at much lesser cost and higher ROI. Companies with longer timeline will have high ROI as robots will do any tasks much quickly as compared to human workforce. All this work by robots will be spontaneous and error free.

At NetSet software we help design and deploy robotic process automation in your business models. Feel free to contact us.

Blockchain: Opportunities for healthcare

blockchain development company

Blockchain is building quick roads to connect with healthcare and redefine how healthcare has been working. Blockchain is spinning up the wind with its  disruptive nature in healthcare. It is characteristically decentralized, peer to peer encrypted and tamper proof database. Healthcare departments have a huge amount of data stored centrally. Blockchain development would bring inter-compatibility, security of data and ensuring its sharing at greater speed with lower cost. The most fascinating thing about blockchain is that, all the participant on the network like hospitals, insurance providers, bill payers and patients will be able to access trusted information using a private or public key. Any participant can look at the number of transactions made or history of the patient or any related documentation. Hence all together on a network doctors and patients could make a decision. Blockchain could possibly help the patients reach doctors and keep them available and hence store all the necessary documents for claims adjudication.

Here are the possible user cases in healthcare:

Patient data management

Implementing blockchain solutions using impressive models for sharing medical records would assist in managing detailed information about patient and his/her health . These could also contain hospital level or doctor level information related to the patient. All the data stored centrally can be structured and maintained at patient’s end, hence securing it at the same time.

Patient generated Health data

Patient generated health data (PGHD) is extremely popular wherein patients record or collect data to address their health concern. They would record a video or type in a smart phone. Instead of Saving PGHD data on the devices,  you could ask them to store the information on health blockchain. The blockchain will have the history of the patients data.

Clinical Trials and studies

Blockchain helps in collecting more accurate and larger sample size for efficient clinical trials. As there will be a large population online on blockchain so there will be limited need for volunteers for trials.

Payments and payer contracts

A blockchain network would contain all the participants like patient, hospital, insurance company for all payments to be made. This leads to saving time and cost in a much easier way. Smart Contracts Blockchain are self executing programs that can send notifications anywhere on the network, also in the event of threat or when a new block is added to the network.

The major idea behind implementing blockchain is customer experience while optimizing the flow of information in most efficient way. Heath care is ready to swirl and transform into an efficient paradigm of adopting technology and care.  We at NetSet Software are gearing up to assist healthcare providers and society at large for better and transparent healthcare services.

How Does ICO Work

How Does ICO Work

Initial Coin Offering is a decentralized way of crowd funding unlike conventional financial ecosystem. Funding Raising through ICO is the new business model that has emerged as a revolution to enhance business methods by getting investment to start new business. Information about the ICO project should be made available to the contributors. As a process, a blockchain is developed and rules are established and the data is made available and accessible to the interested audience. Audience is allowed to purchase crypto tokens in exchange of already existing crypto currencies like Bitcoin or Ether. Every Crypto token has a pre defined value which will never change throughout the ICO. Active ICOs are found on various websites or investors could buy these directly from organization’s official website.

A step by step of an ICO can be summarized as follows:

Pre-Announcement:This is where marketing comes in. Staging the project for investors through websites and preparing the documentation of the project, also emphasizing the important details of the project.

Once the white Paper is broadcasted, the organization will be reached by people who are interested in investing in the project in future. The organization will to cater to the concerns of the investors and will reach the final documentation and model of business.

Offering: This is the final documentation for the proposed business, stating conditions of the  contract for the benefit of the business and investors.

The contract will contain the project details, capital required and total project lifetime. It will also contain details of fiat money like tokens. Tokens will have value assigned to it and these tokens will be given to investors for exchange of crypto currencies. After a certain amount of time company will start returning the earnings to the investors.

After the contract is officially signed , the ICO start date is declared.

Marketing Campaign: This is the most decisive phase of the ICO, as it will bring the necessary capital. With marketing and necessary broadcasting the start up companies  will bring  adequate audience and investors.

After the marketing campaign token exchanges are made with the investors. The company gets necessary funds in exchange of tokens from investors.

As one of the Top Blockchain Software Development Providers NetSet is helping companies from California, Singapore, Tokyo and Honkong in raising ICO`s as a stable platform for reliable investement. To launch your own ICO visit us at www.netsetsoftware.com  or write to us on Direct@netsetsoftware.com

.

The Future of Cashless Society – Cryptocurrency

cryptocurrency wallet Netset Software

Cryptocurrency is nothing but digital electronic cash. Cryptocurrencies are in the market since a long time now and heading to bash the mainstream. The evasive world of cryptocurrency has evolved and is ruling as a currency of exchange. It is the currency for business tycoons and for everyone else who wants to sell services and goods in exchange of digital cash. It has also unfolded as a business enabler, ICOs, tokens, currency lending; there is a stark deviation from crypto currency of business to crypto assets.

Apprehending cryptocurrency

As almost all the things in the world are getting digitized, so is money. Cryptocurrency is the digital form of peer to peer electronic money which uses encryption/ mathematical functions to generate units of currency and to verify the transaction functioning independent of any centralized authority.

Bitcoin was the first cryptocurrency that was a derivative of an idea to create a peer to peer electronic monetizing system by a pseudonym Satoshi Nakamoto. There are other cryptocurrencies that have gained reputation but use the same work frame as bitcoin.

The most basic reason why a central authority has always been needed is to prohibit counterfeiting. Currency evolved from coins to plastic money and now to digital money. Much hyped and mainstream cryptocurrency Bitcoin is decentralized. That means, the transaction is shared almost immediately by the whole network. But only after a certain amount of time and some computational work it gets approved. Every node in the network has a list of all transactions to verify if future transactions are valid . The transactions are time stamped as legit and shared all over the network. After a transaction is verified by a miner, every node has to add it to its ledger. Now a new node or block has become part of a series of Nodes or the blockchain. All the participants come down to a agreeable internet-level consensus about the correctness of a block’s data in a distributed ledger form.

Miners can approve transactions. Mining is the term referred to the computational work that miners do to agree to a consensus. Miners keep track of the distributed ledger and use highly technical mathematical methods to verify the accuracy and correctness of the ledger. Miners create new units of blockchain which gets added to the previous blocks of data. Mining requires a lot of computing power and hardware, so the first miner who solves the mathematical equation gets a reward bitcoin from thin air. This creates more currency in circulation.

How to get cryptocurrencies

  1. Exchange services that buy and sell BTC for Local Currencies
  2. Sell services/goods through bitcoin marketplaces
  3. Mine for bitcoins

How Insurance Companies can Get Benefit from Blockchain?

block-chain in Insurance

The insurance industry is exclusive. It doesn’t sell an actual product; it simply sells an agreement of a service the customer may use in the future. It is when the time comes and customer redeems that agreement by filing a claim that the customer often gets frustrated. Claims processing is the most devastating test on insurance sector.

Today, insurance providers are emerging from the traditional business model. It’s an industry that is ripe for implementing automation – the only way to achieve customer satisfaction. We believe that blockchain will play a major and play a disruptive role in Insurance industry. From customer on-boarding and ‘Know Your Customer’ (KYC) documentation to claim processing and verification, the potential user scenarios for blockchain in the insurance sector grow each day.

One of the game changing features of blockchain is the development of ‘smart contract’. Smart contracts is a self-executing protocols that are triggered in a blockchain to propagate the performance across all parallel and relative participants .This Data is shared across all participants. Addresses and contract provisions are verified alongside. Payments are made automatically. This automation holds very promising future resulting in less decision making along with settlement and negotiation which in turn reduces time and cost.

What changed with blockchain

Conventional method:

The data on multiple times is shared within the insurance organization multiple times and with third parties. Verification and processing includes a lot of manual data entry and duplication entry across other systems. Along with this Human error is a constant challenge.

Blockchain:

Using blockchian technology the claims are settled by using smart contracts that organize the verification of claims and payment. Claims are filed and verified using the information recorded on the smart contract only at one stage thus empowering auto-authenticity and thereby avoiding conflicts. Claims payments are also automated thus removing bureaucracy and frauds.

Improvement:

1 – Reduced running costs.

2 – Improved speed for verification.

3 – Greater transparency into claim settlement.

4 – Faster payments.

5 – Improved customer satisfaction.

We at NetSet Software have developed the solutions using blockchain technology for innate features of Insurance sector and welcome the evangelists to explore this next wave of disruption using Blockchain development for Fintech.

Blockchain – Disruption for freedom from Dominance

blockchain development company Netset Software

Blockchain holds the key to unleash the freedom from all sorts of manipulation in the recording and validation of information of all sorts. The concept of true blockchain holds the key to overcome all the monopolistic barriers in all in almost all spheres of existence of human being. Blockchain is materializing the dream of a true self sustained, transparent, democratic, secure and decentralized system and is already affecting over a dozen strong industries.

First and foremost Banking systems as we know it. Acceptance in various industries in Crypto Currency is disrupting banking technology, as using Crypto Currency is eliminating the role of money making and margin generation by lying taxes in doing transactions. Thus eliminating the role of middle men is making the banking system challenged and thus banks like Barclays and UBS are investing in blockchain technology.

Then next big thing is Data collection and Data mining. In today’s scenario data is asset of few major private organizations or governments, which charge indiscriminately on its use or use it for invasion of one’s privacy and rights. Therefore by using blockchain as a mean of collection of data; one can open a wide network of free and humanitarian use of the large amount of data. Moreover the data developed on a blockchain systems will be temper proof and no manipulation of data can be done for political or business propaganda’s.

Next in line for major disruption is the music industry, which is already under transformation from Blockchain technology. Musicians and song writers are already using these platforms to get directly paid by their fans and removing role of big music companies that leave a meager share for them in current system. Smart contracts in this technology can also resolve copyright issues.

The next industry ready for a massive change is the Retail. Big platforms like Amazon just charge as a guarantor for both buyer and seller but blockchain is an independent platform with no single party middleman and associated fees. Smart contracts will overcome the dependence on any kind of guarantee and In-built in reputation management systems.

Blockchain is not just limited to economic platforms but also ready to transform our social life, in form of a discrete voting system, where each and every individual can see if their vote is counted on their choice. Even donations done by people can be ensured that the reach the person they want it to reach or if it has been put to right use.

Thus we are opening a platform that is truly transparent, safe and temper-proof. The acceptance of this technology will take time but it`s benefits cannot be ignored. Every application of Blockchain technology will take us closer to a free society. We at NetSet Software are helping companies worldwide in exploring the new horizon.

Is Your Organization Ready for Robotic Process Automation (RPA)

Robotic process automation,  blockchain, experimental computing and the Internet of Things (IoT) will profoundly impact and transform the workforce of the future across the financial sector.

Robotics Process Automation (RPA) is providing force to market promising benefits for financial institutions, In order to be competitive financial institutions have to embrace the next wave of robotics technology and future technology to drive business outcome and enhance customer experience.

What is Robotic Process Automation?

As the push to go increasingly digital and do more with limited resources accelerate , the need to empower organizations and workers through technology adoption. RPA is at the forefront of human-computer technology and provides players in the financial services industry with a virtual workforce its completely ruled based and is easy to connect with your company’s legacy systems . Robotics systems, helps you to with automation of your critical operations such as  front office, back office and support functions.

Organizations must have internal analysis on the following.

  • High Volume of daily activities or Transactions

  • Standardized and documented

  • Use Multiple Applications or Systems

  • Multiple data entry

  • Searching, Modifying and updating data

  • Jurisdiction and matching of data

Benefits to deploy RPA in your Organization:

Firstly, Robotics is best for transaction or rule based process or organization of data, where head count is not considered important than valued work. Hence resulting in Lower FTE by adopting new Robotic based model.

Secondly, The business rules when processing an activity or a transaction should be transparent , clear, standardized and finely documented. Clients would know by incorporating RPA into business rules can make processes simple and generate greater ROI.

Thirdly, RPA can reduce human exposure to sensitive company information while eliminating human error in mundane long tasks.

Fourthly, intrinsically adding Robotics to Processes where high volumes of data are added on daily basis on multiple applications and systems. RPA is known for its ability to enhance quality of work and quantity of work. As it reduces the manual data entry issues so there is no need for rework.

Fifthly, completing tasks at a much reduced cost and hence high ROI, businesses with greater timeline will have greater returns per year, as Robots take much less time to do a task as compared to humans and hence resulting in more productivity and error free work.

Lastly, RPA is a Robotic Software can run 365 days a year and 24/7 availability, The rate of completing a process as compared to humans is way high and can scale to profitable ROI.

We at NetSet are helping companies worldwide in exploring this new horizon. To know more about robotics process automation application in your process, please drop us a line on direct@netsetsoftware.com

How Blockchain Technology can Revolutionize Music and Media Industry

The music industry has been in a strong turmoil, it is marked with drowning revenues, zero transparency and never ending piracy problems. Music companies hate streaming services. Streaming services hate file-sharing services. And, most of all, artists and content creators hate virtually everyone else for making huge money and paying them very less. With so many conflicting behaviors ,the music industry might finally find a chance to head in a positive direction by adopting the blockchain, the technology that powers the bitcoin crypto currency. The blockchain is now showing promising signs to change the music industry in ways that might fulfill the needs of all.

In the music industry, the blockchain is already booming, coining money and providing parallel association of artists with their fans.

BlockChain and Anti-Piracy

Songs will be published on the distributed ledger with a unique ID and time stamped in a way that is effectively untouched. This can solve the unceasing problem of content being downloaded, copied and edited at user’s convenience. Each record will have ownership and rights attached to it in a transparent and rigid way for everyone to see and verify. This will make sure that only correct people will get paid for the use of the content.

BlockChain and Coining of Currencies

Blockchain development for Fintech can also revolutionize in making money in industry of music. It is based on smart contracts, Listening to a song will automatically trigger the smart contract and payments will be automatically made to all the simultaneously linked people. Blockchain-based cryptocurrencies like Bitcoin and Ethereum support these payments.

BlockChain and Direct Relationship

One big advantage of a blockchain distributed ledger is that it has a more transparent relationship between artists and consumers. No more difficult financial deals between Composers and artists in which composers, who usually take a huge cut of the revenue .Now Artists can get directly paid every time their songs are played through smart contracts. This can be a big opportunity to all those amateur artists ,producers and composers who don’t have the silver spoon of huge music company labels.

NetSet has established core competence in blockChain Development. After providing fintech solution to Banks and Insurance companies, we are ready to brace this disruption in music industry, for more information contact us at Direct@netsetsoftware.com .

WebApps – The Myth and The Mirror

web design company Chandigarh

Web as a term has come much ahead since its start. Websites today not only share information but support major business functions. Searching location, products; sharing and storing videos, images and documents; playing online video games; using business tools etc have all been integrated into web. All these services are a part of great domain of web apps.

But the question comes why we need to move from Native apps to Web apps. Web apps are similar to mobile apps the only difference is that these apps are run on web browser instead of indigenous mobile operating system and thus provide a much better user experience. Web apps have following advantages over mobile apps:

  1. These can be accessed any time anywhere based on internet connectivity.
  2. These apps are not dependent on mobile operating systems and thus can be handled with ease on all devices.
  3. There is no need to update these apps. Web apps are accessed directly thus the app automatically gets updated every time you access it.
  4. As web apps are not installed on device they are comparatively safer as the web app does not interfere with device code.
  5. Easy to code easy to launch, as web apps do not need app store listing they can be made as per developer requirement and all modification and updating do not need long and trying process of app store approval.

Well the world of web apps is very lucrative but when it comes to reality these benefits come at a cost. Web apps are light and do not support complex features. Let`s discuss some points that limit the scope of web apps:

  1. As web apps run on web they need internet connection and may not be a good option for a segment of target market that has data usage concern.
  2. Web apps do provide us good features like auto update etc but this makes the app slow and limits its functions.
  3. Web apps are made compatible with all the browsers and they might get stuck when browser gets updated.
  4. The app stores provide better search availability of apps thus target users might not be able to discover the web app as they are not listed in any app store.
  5. Along with this app stores also follow strict security protocols for payments and personal information, thus ensuring same security features and building user confidence is tough.

Web apps hold a very promising scope for ease of development and accessibility for apps that answer to the need of quick availability, faster update and internet compatibility. Our team at NetSet is fully equipped with years of experience in exceeding client expectations in developing all type of webapps. Being one of the top IT companies in India we have excel at developing apps for organizational management to individual use, catering all type of requirements like  banking, healthcare, hospitality, event management, etc. If you are looking for efficiency of your organization please drop in a message or email your requirement on direct@netsetsoftware.com.

Content Management Systems– Customizing Your Communication

CMS web development India

There was a time when an inquisitive prospect could be converted into a client by simply explaining about the product and services in a direct interaction. But with time the things have changed, the internet has evolved and is available in every pocket. Today sale depends not only on customer need but on customer awareness. Every customer wants to analyses the every possible solution for the problem they face. For doing so one starts with discussion in the peer group and then slowly moves to the answers online. Once taking complete understanding of the possible solutions, one does comparison and tries to reach to a conclusion. At this point the CMS comes in view. As we cannot reach our goal by simply giving a solution,thus we need to make the solution more communicative. A good CMS makes the content enticing and interactive.

A content managing system is a tool that that makes the content candid and user friendly. With hundreds of options available, one must look for the best graphic user interface. A picture paints a thousand words, thus a good GUI helps in better client engagement. A CMS not only helps in better client engagement but also helps in better data handling and content modeling. The data can be kept in form of tables, formats or code but the accessibility must be flexible and scalable.

Looking from the perspective of a user, when a prospect visits a certain website they expect the content to be easily accessible. The content should be indexed under right categories, it should be able authenticate the meaning and must pull the prospect towards the said objective. All this can be managed very easily by good content management systems.

A standard available CMS cannot cater this need and must be adjusted to meet the industry and business goals. We at NetSet Software can help you customize a CMS that will not only make the content management easy but more communicative. With the content being more communicative you can go beyond just client engagement but lead generation and conversion as well. Just drop in a call or send us a query to take your business to the next level.