VIS Global Pty Ltd

Author: vis@dmin

  • Contact Centre – Digital Hub 2.0

    Contact Centre – Digital Hub 2.0

    Contact Centre – Digital Hub 2.0

    The Internet has transformed the way brands are communicating with their customers in today’s times. Market trends and industry facts clearly show that there is whopping growth in digital communication. Keeping a futuristic and pragmatic approach; It is time to break your digital channels out of their silos to provide real omnichannel experiences with an innovative blend.

    PRIME FOCUS
    Service Assurance
    – Service STABILITY through knowledge channeling and management
    – Service SCALABILITY by expanding customer touchpoints 

    Market Demand
    – Keeping pace and tweaking with NEW BREED of customers
    – Constant INNOVATION to be ahead of competitors 

    Cost Efficiency
    – Adoption of LEAN concept through extensive self-care option
    – Personalized service for EXCLUSIVE customers

    KEY DELIVERABLES
    Engage
    Create an eco-system which will allow customers to interact, transact and express themselves freely.
    Enable
    Provide a seamless experience to customers irrespective of which
    channel/channels they choose.
    Empower
    Be visible where customers are present; allowing them to connect
    with brands anytime and all the time.

    Author – Saurabh Burman

    Specialist AI & RPA VIS Global

     

    Saurabh is a seasoned Business Analyst, having strong business acumen with proven record of implementing RPA, BI CRM Automation and Digital Communication Solutions across industries. He has spent more than 19 years in diverse management positions in companies like Reliance Communications, Virgin Mobile, MTS and Samsung India leading projects related to innovation in Customer Care Management, Self-Service Enhancement and Business Process Efficiency. Saurabh joined VIS Global in 2019, a technology services company, to drive Artificial Intelligence (AI) and Robotic Process Automation (RPA) initiatives. If you are interested in discussing these challenges and the way forward, you can get in touch with Saurabh at saurabh.burman@visglobal.com.au

    ESSENTIAL COMPONENTS


    Chatbot

    Chatbots are the future of self-service. Chatbots enhances automated chat conversations by providing information in a speedy, efficient, and cost-effective manner. It can be deployed at any point in the customer journey.

     

     

    Chatbots help improves resource utilization as they do not need
    any human intervention. However, if the chatbot is unable to answer a customer inquiry, the chat session can be immediately transferred to a live agent for assistance. Furthermore, it can be integrated with any third-party social media applications like WhatsApp, FB Messenger, Telegram etc.

     

    Visual Interactive Voice Response System (IVRS)

     

    Interacting with an interactive voice response system (IVR) with a long list of options does not provide a great customer experience.

     

    Now with the latest cutting-edge technology, IVR options can visually appear on any mobile device with a screen. It makes customers more connected, provides convenience to customers, and reduces cost
    for the organization as no live agents are involved.

    Email Management Solution (EMS)

     

    Volume is the leading indicator of the need for change from an individual email client based response solution to and Email Management Solution (EMS). As volumes grow, contact centres usually have to add more agents to the team. As a result, coordination and tracking become extremely difficult without the right tools. EMS will help streamline and automate the process of categorizing and routing emails to the right agent.

    EMS will further allow you to maintain complete interaction history for each customer, as well as associated related emails as a single case.
    SMS/Text
     

    Some customers prefer text over voice and find it more convenient. Through Automation, you can establish a two-way communication using SMS/text channel. The contact centre sends out a text notification, and customers can respond to the same text. This service can be enabled on toll-free numbers as well.

    Artificial Intelligence (AI)

    Create smarter, more intuitive interactions that will improve customer satisfaction. AI solutions enhance human decision-making, simplify operations, and automate processes.

    Sentiment Analysis – Know what your customer thinks! Capture customer sentiments before they are buried down. By using Natural Language Processing (NLP) and Machine Learning (ML) techniques, brands can extract sentiments on a real-time basis with a unique combination of statistical and linguistic modeling. Brands can engage better, identify issues and spot trends before they balloon into more significant concerns

    Voice Biometrics – Voiceprint identification allows businesses to use customer voice as an authentication mechanism. Call centers can now provide personalized and expedited interactions. This functionality can be used in IVR and live agent interactions, inbound and outbound, throughout the customer journey cycle. Furthermore, this can result in a lower cost of service and reduced business liability.

    Robotic Process Automation (RPA) – Automate business processes by developing tools that could analyze and improve customer engagement, customer experience, and increase business productivity. RPA eliminates the possibility of human error by logging every step with consistency and accuracy. Working with BOTs speeds up completion of operational processes without a break resulting in
    quick services to customer.

    Cognitive Analytics
    Cognitive Analytics will provide a 3600 view of customer’s journey which will help shape strategic planning, product development and process improvements throughout the organization

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  • Services 5.0

    Services 5.0

    Services 5.0

    Is Work from Home the next evolution of the Shared Service Function?

     

    During my time in running and setting up the Shared Service Function over the last 20 years, I have seen it evolve and adapt to changing business requirements.The typical evolution journey started with Centralisation of key functions, such as Finance, HR, IT, Call Centres, and other Admin capabilities (SS 1.0). This then progressed into Outsourcing and Off-shoring of these capabilities to specialist service providers located on-shore initially and then progressively off-shore, as the confidence in this capability was established (SS 2.0). These service providers used their expertise to Standardise the processes and brought in various technologies and tools to simplify and automate elements of the process. They were able to cross-leverage the learnings from one account by bringing this capability to their other customers. This worked very well for most of the companies and some businesses even set up their own captive Shared Service functions On-shore and Off-shore, if they had the scale and the business alignment to own and
    manage this service (SS 3.0)

    In recent years we have seen a growing trend to increase the scope and scale of automation, and companies together with their service providers have set up projects to leverage the emerging capability of RPA, AI, ML and Chat Bots. This automation has allowed the Shared Service functions to move the valuable human resource to more value adding work, taking on more sophisticated business services such as Marketing, Research, Customer Service, Complaints Handling, Outbound Calling, Sales support and other Commercial functions, such as Finance Reporting and Analysis, Budget creation and even HR employee advisory capabilities (SS 4.0).
    But with the advent of Covid 19, this function has been significantly impacted. The ability for these teams to work from home was set up as a BCP or DRP capability at best, but not as a work from home function. Covid 19 has required whole teams to operate from home for extended periods of 3-6 months.

    Companies had to hurriedly work out short-term solutions and set

    up quick fixes to help them tide over this emergency.
     

    But this event has now required us to look at this problem differently. Can we design the Shared Services as a function that can work from home as a regular business capability? This probably is the next evolution of the Shared Service Function?

     

    If we were to initiate this strategy (SS 5.0), what are the issues and
    challenges that we will need to resolve?

    Author – Sandeep Chitale

    Senior Vice President VIS Global

     

     Sandeep has spent over 20 years in the shared service function, initially at ANZ setting up the Operations capability for the bank in Bengaluru from 2003 to 2008 and then later at Asahi Beverages from 2009 to 2017 as he set up the shared service function back in country for the Schweppes business after it was off-shored by Cadbury but brought back in house post the acquisition by Asahi. This function then grew into a multi- function, multi business and multi- geography capability that had teams both on-shore and off-shore. Since 2017, Sandeep has been consulting with Small and Medium businesses to better manage these functions, leveraging emerging technologies of gamification, automation and improved communication and collaboration tools. Sandeep joined VIS Global in 2019, a technology services company, to drive the integration of technology into business processes as companies drive their digital transformation initiatives across their operational functions. If you are interested in discussing these challenges and the way forward, you can get in touch with Sandeep at sandeep.chitale@visglobal.com.au

    Technology – The first and most important issue would be – can this be technologically achieved both on- shore and off-shore? What are the changes we will need to make to the technology infrastructure to
    enable this method of working, where staff operate from home? Do they have laptops, do they have mobile phones or can they use their own devices? Can they log into the company network in a safe and
    secure way. Can the bandwidth in their homes handle the type of work they will need to perform from their homes? Will the core systems and the citrix arrangements work effectively in this type of geographic set up?


    Remote Management – The second most important issue would be work allocation and team management and support. How will the team leaders of these service teams, manage their units in such a distributed way? What training and skills will they need to be given? What tools and technology will need to be implemented to enable this type of teamwork to succeed and be effective in meeting business and customer service expectations.


    Digitised processes – The third most important issue would be the ability to manage entire business processes away from the office. We will need to ensure the end to end business process is digitised and there is the ability to track and manage this with a distributed workforce and yet have full visibility of process performance and service tracking, with reports and analysis of workflow volumes, backlogs and bottlenecks provided to the management team to help them take appropriate actions.


    Service Management – The fourth issue will be around Service Management – the ability to track, measure and report on service performance. Ensure there are clear processes for service escalation, a clear approval matrix for process exceptions, and ability to draw in experts to make judgement decisions, when problems are escalated and need to be resolved urgently. The governance process, the audit capability and the monitoring of compliance requirements will all need to be considered in designing these capabilities.

     

    Performance Management – The final issue will be Team and Individual Performance Management, where by the shared service leadership is able to motivate, manage and reward and recognise staff and teams, whether it be tracking their regular performance metrics or recognising actions taken that were “above and beyond” their normally assigned roles. This type of Performance Management capability will be necessary to make the process fair and transparent to the whole team and to share more broadly with the business functions. New ways of working will need to developed to be able to operate effectively in this way.

     

     

    Call Centre Management – Where shared service functions run call centres or contact centres, there would be some very specific capabilities required for this function that will need to be developed and discussed separately in more detail. Issues such as call recording, regulatory compliance and specific call centre KPI tracking will need to be reviewed and redesigned as part of this full review. Covid 19 is changing the world and in some ways accelerating the changes we knew would come along at some stage. The shared service leaders will need to consider these challenges as they redraw their short, medium and long-term plans, so that they can be better prepared to operate in the post Covid 19 world.

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  • Drones In Space: How They Can Explore, Communicate, & Monitor The Final Frontier

    Drones In Space: How They Can Explore, Communicate, & Monitor The Final Frontier

    How Digital Technologies Can Transform The Retail Industry & Create New Customer Experiences

    Drones are not only useful on Earth, but in space as well. In this blog post, we will explore the uses and applications of drones for exploration, communication, and surveillance in outer space, as well as the potential benefits and challenges of this technology that exists today

    What are drones in space?

     

    Drones are unmanned aerial vehicles that can fly autonomously or remotely controlled. They have many applications on Earth, such as delivery, surveillance, agriculture, entertainment, and more. Additionally, they can also find applications in outer space for exploration, communication, and surveillance.

     

    Drones in space are not the same as drones on Earth. They must overcome distinct challenges, including the absence of air, extreme temperatures, radiation, and gravity. As a result, they require different technologies, like jets of gas or water vapour, solar panels, or nuclear power sources. Additionally, they must communicate with satellites or ground stations to receive commands and transmit data.

    How are drones in space used?

     

    Many drones in space have been launched or are planned to be launched shortly. Here are some of the examples of drones sent to space:

    Ingenuity: This small helicopter drone flew on Mars for the first time in April 2021. It was a historic achievement, as it demonstrated that it is possible to fly a drone in the thin atmosphere of Mars. Ingenuity used a small propeller to lift itself off the ground and a camera to navigate. It also used a radio to communicate with the Perseverance rover and relayed the signals to Earth via satellites.

    Dragonfly: This quadcopter drone will explore the surface and atmosphere of Titan, Saturn’s largest moon, in 2034. Titan has thick nitrogen-rich air and a complex organic chemistry. Dragonfly will use a nuclear power source to generate electricity and heat and a radioisotope thermoelectric generator (RTG) to communicate with Earth via satellites.

    CubeSats: These small satellites can be launched in groups or clusters to perform various tasks in the orbit. They can help in scientific experiments, communication, navigation, or surveillance. Some examples of CubeSats are LightSail 2, which used a solar sail to propel itself, and Planet Labs’ Dove satellites, which provide high-resolution
    images of Earth.

    What are the benefits of using drones in space?

     

    Drones in space have many potential benefits for science and humanity. They can help us learn more about the planets and moons in our solar
    system, their geology, climate, and potential for life. They can also help us test new technologies and prepare for future human exploration. They can also provide valuable services like mapping, monitoring, or relaying information.

    For example, Ingenuity helped the Perseverance rover to scout potential locations for collecting samples. Dragonfly will help us understand the origin and evolution of life on Earth and elsewhere. CubeSats can help us improve our communication networks, navigation systems, or weather forecasting.

    What are the challenges for drones in space?


    Drones in space also face many challenges and limitations. They must withstand harsh environments, such as extreme temperatures, radiation, dust storms, or meteorites. They must operate autonomously or with minimal human intervention, as the communication delays can
    be significant. They must be reliable and resilient, as repair or replacement is difficult if something goes wrong in outer space.

    For example, Ingenuity had to deal with temperatures ranging from -90°C to 40°C on Mars. Dragonfly will have to cope with low gravity and high winds on Titan. CubeSats have to avoid collisions with other satellites or space debris.

    Conclusion


    Drones in space are an exciting and promising technology that can help us explore, communicate, and monitor the final frontier. They have many applications and benefits for science and humanity. However, they also face many challenges and limitations that require innovative solutions and careful planning.

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  • How Digital Technologies Can Transform The Retail Industry & Create New Customer Experiences

    How Digital Technologies Can Transform The Retail Industry & Create New Customer Experiences

    How Digital Technologies Can Transform The Retail Industry & Create New Customer Experiences

    How Digital Technologies Can Transform The Retail Industry & Create New Customer Experiences The retail industry is facing unprecedented challenges as well as getting new opportunities as digital technologies such as artificial intelligence (AI), internet of things (IoT), augmented reality (AR), virtual reality (VR), and biometrics are reshaping how retailers interact with customers, optimize operations, and innovate products and services. In this blog post, we will explore some of the features and benefits of stores of the future that leverage these technologies to create personalized, immersive, and seamless shopping experiences.

    Personalized Shopping with AI and Biometrics

    DOne of the key features of ‘stores of the future’ is the ability to offer personalized shopping experiences to customers based on their preferences, behaviors, and emotions. AI and biometrics are the technologies that can enable this feature by collecting, analyzing, and acting on customer data.

    AI can help retailers understand customer needs and preferences by analyzing their online and offline behaviour, purchase history, social media activity, and feedback. AI can also help retailers offer personalized recommendations, promotions, and discounts to their customers based on their preferences and context. For example, AI can suggest products that complement or match the items that customers are browsing or buying, and it can also offer discounts or coupons based on their loyalty or purchase frequency.

    Biometrics can help retailers identify customers and authenticate their
    transactions by using their physical or behavioural characteristics, such as face, voice, fingerprint, iris, or gait. Biometrics can also help retailers measure customer emotions and satisfaction by using facial expression analysis, voice sentiment analysis, or heart rate monitoring. For example, when customers are browsing for a product or service, biometrics can help retailers detect customer confusion and offer suitable assistance or guidance accordingly.

    Immersive Shopping with AR and VR


    Another feature of ‘the stores of the future’ is the ability to offer immersive shopping experiences to customers by using AR and VR technologies. AR and VR can help retailers create virtual environments that simulate real-world scenarios or enhance reality with digital elements.

    AR can help retailers overlay digital information or content on top of physical objects or spaces, such as product details, reviews, ratings, or instructions. AR can also help retailers create interactive experiences that allow customers to try on products virtually, such as clothes, shoes, glasses, or makeup. For example, AR can help customers see how a product would look on them or in their environment before they buy it.

    VR can help retailers create fully immersive environments that transport customers to different locations or situations, such as a fashion show, a travel destination, or a game. VR can also help retailers create engaging experiences that allow customers to interact with products or services realistically. For example, VR can help customers test drive a car, explore a hotel room, or play a video game.

    Seamless Shopping with IoT

     

    A third feature of the stores of the future is the ability to offer seamless
    shopping experiences to customers by using IoT technologies. IoT can help retailers connect physical objects or devices to the internet and enable data exchange and communication between them.

    IoT can help retailers automate processes and tasks that improve efficiency and convenience for customers and employees and optimize rapidly. For example, IoT can help retailers use smart shelves that monitor inventory levels and alert staff when products need to be replenished or restocked; smart carts that scan products and calculate prices as customers shop; smart checkout systems that allow customers to pay without waiting in line; smart locks that allow customers to access their online orders from lockers; or smart sensors that track customer traffic and optimize store layout.
    IoT can also help retailers collect data and insights that improve decision- making and innovation for products and services. For example, IoT can help retailers use smart tags that track product performance and quality; smart cameras that can analyze customer behaviour and preferences; smart mirrors that collect feedback and suggestions; smart speakers that will answer customer queries; or smart wearables that constantly monitor customer health and wellness.

    Conclusion

     

    The retail industry is undergoing a massive transformation as digital technologies such as AI, IoT, AR/ VR, and biometrics are reshaping how retailers interact with customers optimize operations, and innovate products and services. ‘Stores of the future’ will leverage these technologies to create personalized, immersive, and seamless shopping experiences that delight customers and drive the agrowth of society and mankind.

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  • How Cloud Computing and SaaS Can Transform Your Business

    How Cloud Computing and SaaS Can Transform Your Business

    How Cloud Computing and SaaS Can Transform Your Business

    Cloud computing and SaaS are two of the most popular and powerful trends in the technology industry today. They offer various benefits for businesses of all sizes and sectors, such as reducing costs, increasing scalability and enabling innovation. But what exactly are cloud computing and SaaS, and how can they help you achieve your business goals? Let’s go for a deeper dive:

    What is Cloud Computing?
    Cloud computing is the delivery of computing services such as servers, storage, databases, networking, software, analytics, and intelligence over the internet. Instead of buying, owning, and maintaining physical data centres and servers, you can access these technology services and technology infrastructure from a cloud provider on demand. Cloud computing enables faster innovation, flexible resources, and economies of scale. You typically pay only for cloud services you use, helping you lower your operating costs, run your infrastructure more efficiently, and scale as your business needs change.

    There are three main types of cloud computing services:

    Infrastructure as a Service (IaaS): This provides the basic building blocks for cloud IT, such as servers, storage, and networking. You can rent these resources from a cloud provider and use them to host your own applications or data.

    Platform as a Service (PaaS): This provides a platform for developing, testing, and deploying applications without worrying about the underlying infrastructure. You can use the tools and services provided by the cloud provider to create your own software solutions. Software as a Service (SaaS): This provides users with access to a vendor’s
    cloud-based software. You do not install applications on your local devices. Instead, the applications reside on a remote cloud network accessed through the web or an API.

    What is SaaS?

    SaaS is a type of cloud computing that provides users the access needed to a vendor’s cloud-based software. The users do not have to install the applications on their local devices. Instead, the applications reside on a remote cloud network accessed through the web portal or an API.

     

    Through SaaS, cloud providers host and manage the software application and underlying infrastructure. It also helps them handle maintenance such as software upgrades and security patching. Users usually connect to the application over the internet through a web browser on their phone, tablet, or PC.

    Some examples of popular SaaS applications are:

     

    Gmail: The World’s most popular web-based email service that allows users to send and receive messages, manage contacts, and organize
    their inboxes.

     

    Dropbox: This file hosting service allows users to store and share files online and sync them across devices.Salesforce: A customer relationship management (CRM) a platform that helps businesses manage their sales, marketing, customer service, and analytics.

     

    Zoom: A videoconferencing platform that lets you create or join any online meetings, webinars, chat, and collaboration.

    Why Use Cloud Computing and SaaS?
     

    Cloud computing and SaaS offer many benefits for businesses of all sizes and sectors. Some of the main advantages are:

     

    Reduced time to benefit: Cloud computing and SaaS allow users to access and use software applications without installing or configuring them on their own devices. This reduces the time spent on installation and configuration and thus minimizes the number of issues that might interfere with software deployment.

    Lower costs: Cloud computing and SaaS can provide cost savings since they usually reside in a shared or multi-tenant environment, where the hardware and software license costs are low compared to the traditional model. Users pay only for the cloud services they use, thus helping lower their operating costs. Maintenance costs are also reduced since the cloud providers own and manage the environment.

    Scalability and integration: Cloud computing and SaaS offer advantages in calability and integration over the traditional model. Users can readily scale up or down their cloud service usage as per their needs without having to invest in additional hardware or software. Cloud computing and SaaS enable integration with other cloud-based services or applications, creating more possibilities for innovation and collaboration.

    New releases (upgrades):
    With cloud computing and SaaS, the cloud providers handle the upgrades of the solution, making them available to their customers. The costs and efforts related to upgrades and new releases are lower when compared to the traditional model, which typically requires users to purchase an upgrade package, install it, or pay for specialized services to facilitate environment upgrades.

    Easy to use and perform proof-of-concepts:
    Cloud computing and SaaS provide ease of use and proof-of-concept benefits. As they come pre-equipped with best practices and samples,
    users can conduct proof-of-concepts and test software functionality or new release features beforehand. Users can also have multiple instances with different versions, facilitating a seamless migration process.

    How to Get Started with Cloud Computing and SaaS?
    If you are interested in using cloud computing and SaaS for your business, then you need to consider some factors before choosing a provider and a solution. Some of these factors are:

    Your business needs and goals: You need to identify what problems you want to solve and what benefits you want to achieve with cloud
    computing and SaaS. You also need to define your budget and your timeline for implementation.

    The type and level of service: You need to decide which type of cloud computing service (IaaS, PaaS, or SaaS) and which level of service (public, private, or hybrid) best suits your needs. Additionally, you need to compare the features, performance, security, reliability, and support of different providers and solutions.

    The migration and integration process:
    You need to plan how to migrate your existing data and applications to the cloud and integrate them with other cloud-based or on-premise systems. You also need to consider the potential risks and challenges of the migration and integration process and how to mitigate them.

    The ongoing management and optimization: The ongoing management and optimization: You need to monitor and measure the performance, usage, and costs of your cloud services and applications and optimize them accordingly. You also need to ensure that your cloud environment is secure, compliant, and up-to-date.

    Conclusion
    Cloud computing and SaaS are powerful technologies that can transform your business by reducing costs, increasing scalability, and enabling innovation. They offer many benefits for businesses of all sizes and sectors, but they also require careful planning and management.

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  • Blockchain: How Distributed Ledger Technology Can Enhance Security, Transparency, & Efficiency In Business Transactions & Processes

    Blockchain: How Distributed Ledger Technology Can Enhance Security, Transparency, & Efficiency In Business Transactions & Processes

    Blockchain: How Distributed Ledger Technology Can Enhance Security, Transparency, & Efficiency In Business Transactions & Processes

    Blockchain: How Distributed Ledger Technology Can Enhance Security, Transparency, & Efficiency In Business Transactions & Processes Blockchain is one of the most innovative and disruptive technologies of the 21st century. It has the potential to transform various domains such as finance, supply chain, and healthcare, by enabling faster, cheaper, and more secure transactions and processes. But what exactly is blockchain, and how does it work? In this blog post, we will explore the basics of blockchain technology and some of its applications and challenges in detail.

    So, what is Blockchain?

    Blockchain is a system that records transactions in a database and is made up of ‘blocks’ of data that are ‘chained’ together. Each block contains a timestamp, a cryptographic hash of the previous block, and a set of transactions. These transactions are validated by a network
    of nodes (computers) that use a consensus mechanism to agree on the state of the ledger. Once a block is added to the chain, it cannot be altered or deleted without affecting the subsequent blocks. This makes the blockchain a secure,transparent, and immutable record of transaction.

    What are the Benefits of Blockchain?


    Blockchain has many advantages over traditional systems that only rely on centralized authorities or intermediaries to verify and process transactions. Some of these benefits are Security: Blockchain transactions are encrypted and verified by the network, making them resistant to fraud, hacking, and corruption. Blockchain also eliminates single points of failure that can compromise the system’s integrity.

    Transparency:

    Blockchain transactions are visible to all participants in the network, making them accurately auditable and accountable. Blockchain also ensures that all the parties have access to the same information and can trust its accuracy and validity.

    Efficiency:

    Blockchain transactions are faster and cheaper than conventional methods, as they do not require intermediaries or intermediaries fees. Blockchain also reduces errors, delays, and redundancies in the system.

     

    Where is Blockchain technology used the most?

     

     

    Blockchain has many potential applications in various domains such as finance, supply chain, and healthcare. Now, let us look at some examples of how blockchain can be used in these sectors:

     

     

    Finance: Blockchain can enable faster and cheaper cross-border payments, reduce fraud and intermediaries, and improve financial inclusion and transparency. For example, some banks and financial institutions use blockchain to facilitate remittances, trade finance, and digital identity verification. Blockchain can also support the development of cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs), which can offer alternative forms of money
    and payment systems.

     

     

    Supply Chain: Blockchain can improve the traceability, visibility, and accountability of products and materials across the entire value chain. Blockchain can help you verify the origin, quality, and authenticity of goods, prevent counterfeiting and theft, and optimize inventory and logistics management. For example, some companies use blockchain to track the provenance and condition of food, pharmaceuticals, diamonds, and other commodities. Blockchain can also enable smart contracts, which are self- executing agreements for automating transactions and enforcing compliance.

    Healthcare: Blockchain can enhance the security, privacy, and interoperability of health data and records. Blockchain can help you protect your patient data from unauthorized access and tampering,
    enable patients to control their data and share it with trusted parties, and facilitate the exchange of information among different healthcare providers and systems. For example, some projects use blockchain to store and transfer electronic health records (EHRs), medical images, genomic data, and other health-related information. Blockchain can also support the management of the medicine supply chain, the donation of blood, organs, and tissues (BOTs), and research on diseases and treatments.

    Now, let’s discuss some of its Challenges!


    Blockchain is not a perfect solution. It has some challenges and limitations that need to be addressed before it can be widely adopted in various industries. Some of these include:

     

    Scalability: Blockchain transactions are limited by the size and frequency of the blocks, which can affect the speed and throughput of the system. As more and more transactions are added to the ledger, the blockchain becomes larger and more complex, requiring more storage and computing power from the nodes.

    Interoperability: Blockchain systems are often isolated and incompatible with each other, making it difficult to exchange data and value across different platforms and networks. There is a need for common standards and protocols to enable interoperability among various blockchain solutions.

    Regulation: Blockchain transactions are often decentralized and borderless, which can pose challenges for regulatory compliance and oversight. There is a lack of clarity and consistency on how blockchain is regulated and governed in different jurisdictions and sectors. There is also a risk of legal disputes and conflicts arising from blockchain transactions and contracts.

     

    Governance: Blockchain transactions are often governed by the rules and incentives of the network, which can vary depending on the design and implementation of the system. There is a need for effective governance mechanisms to ensure the security, stability, and sustainability of the blockchain network, as well as to resolve disputes and conflicts among participants.

     

    Education: Blockchain technology is still a relatively new and complex technology, which can create barriers to adoption and innovation. There is a need for more education and awareness of the benefits, risks, and opportunities of blockchain technology among various stakeholders, such as users, developers,regulators, and policymakers.

     

    Social Acceptance: Blockchain technology can challenge the existing norms and paradigms of society, such as trust, authority, and identity. There is a need for more social acceptance and adoption of blockchain technology among various communities, cultures, and values.

    Conclusion
    Blockchain technology is a revolutionary innovation that can enhance security, transparency, and efficiency in business transactions and processes worldwide.It has many potential applications in various domains like finance, supply chain, and healthcare. However, there are also some challenges and limitations that we need to overcome before blockchain can be widely adopted for everyday use. Therefore,more research and development are needed to address these issues and utilize the full potential of blockchain technology.


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  • easyMarkets Review 2025 Trade 200+ Global Markets

    easyMarkets Review 2025 Trade 200+ Global Markets

    easymarkets review

    Trending Brokers accords traders and investors with some of the best hand picked brokers that can harvest their needs for booking profits in the world of financial market. According to our easyMarkets review, the broker is convenient for global users because it accepts a wide range of online payment options. Freeze Rate is a feature that enables users to trade at the frozen price while freezing onscreen prices for a few seconds. Since every second counts and a trade’s value can vary quickly, this is especially advantageous for day traders who operate in erratic markets.

    Desktop Platform Review

    For example, with a Bitcoin trade, we noticed that the for 1 Bitcoin exposure at a price of $8,300 we would need to put down $166. All these accounts also have a live telephone support option as well as an account manager. Keeping true to the “easy” mantra, the easyTrade feature is perhaps one of the simplest ways for a new trader to start using the broker. From a technical perspective, this is very much the same as a vanilla option.

    • The dealCancellation feature gives you the ability to undo a trade within one hour for a small fee.
    • The first thing that stuck out for us was their limited crypto coverage when compared to platforms like eToro or Uphold.
    • Professional account provides access to all easyMarkets trading instruments with a minimum trade size of 0.01 lot.
    • Most of the options from easyMarkets are currencies although commodities (OIL/USD) and precious metals (XAU/USD and XAG/USD) are also available.
    • I can see it how would have its uses but I think losing trades are a part of any successful trading strategy as mad as that sounds.
    • Well, if you are looking for a regulated broker with low spreads, great trading tech and a well established reputation then it is definitely worth considering.

    easyMarkets MetaTrader 4

    easymarkets review

    Their trading platforms include; an easyMarkets web platform, which comes with a lot of built-in tools, including vanilla options, pending order, day trading, easyTrade. There are easyMarkets mobile applications for Android and iOS devices, as well as the world-renowned MetaTrader 4 platform. EasyMarkets offers a wide variety of trading platforms to accommodate different trading preferences and requirements. It provides a strong trading environment with a user-friendly platform, high regulatory standards, and competitive features. With a wide range of CFD offerings, generous leverage options, and excellent customer support, easyMarkets stands out as a top choice for traders. As leverage exposes all traders to high risk when forex trading, a ‘guaranteed stop’ at least provides peace of mind in that you will know the maximum you can lose on a trade.

    With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment. EasyMarkets allows traders to trade on mobile devices through Android and iOS devices like the iPhone. After logging into your easyMarkets account, you’ll find a range of trading platform options available below. It’s recommended that you check the easyMarkets website before signing up. If you decide to close your easyMarkets account, it’s important to do so with the easyMarkets broker customer support and obtain confirmation that no remaining easyMarkets fees are due. A minimum deposit is the minimum amount of money required by easyMarkets to open a new online brokerage account with them.

    easymarkets review

    Company Headquarters and Trading Names

    • MetaTrader4 (MT4) is the best among the trading platforms for many reasons.
    • If you want to look at some easyMarkets alternatives that might better fit your needs, we list and compare some of the best easyMarkets alternatives further down this easyMarkets review.
    • Compare easyMarkets with the top 3 similar brokers that accept traders from your location.
    • It also offers fixed spreads which are relatively unique in the online broker market.
    • Trading vanilla options provides some control as you get to manage the level of risk as well as the time frame.
    • On the downside, easyMarkets does not offer a zero-spread account like Pepperstone and IC Markets.
    • EasyMarkets have won numerious industry awards over the 24 years they have been operating as a financial broker.

    As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients. The easyMarkets App puts the global markets at your fingertips with its intuitive design giving you access to all trading and information from the same user-friendly interface. You can access live real time prices and market news directly from within the app. Features include integrated tools for conducting analysis, dealCancellation, Freeze Rate and Free Guaranteed Stop Loss and Take Profit. Available on iOS or Android devices, it gives you all of the same features as the easyMarkets web platform with access to markets everywhere in the world that you have an internet connection.

    Recommended Brokers:

    However, investors seeking a diversity of assets are the ones who would benefit from them the most. Therefore, the foundation of easy market is its social and user-friendly trading solutions. Its simplicity and low system requirements are what every trader is fond of using it. Additionally, you don’t need to download or install any software to run this platform. easymarkets review Along with everything else, the broker offers new and experienced traders various advantages that enhance their trading experience.

    Traders can contact easyMarkets customer service for more information by phone, fax, email, live chat, or directly through the company’s worldwide offices. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and spreads, fast, quality execution on every trade. EasyMarkets is headquartered in Limassol, Cyprus within the European Union and submits to regulation under the Cyprus Securities and Exchange Commission’s (CySEC’s) oversight. The broker is subject to the rules and regulations specified in the EU’s Markets in Financial Instruments Directive (MiFID) and includes the segregation of client funds from its own money. Once you enter into a trade, you can then either close it ahead of time or it will automatically expire at the end of its time frame. Once it expires, the resulting payout, if any, will then be credited to your account.

    This indicator appears directly below the price chart on the default interface of easyMarkets’ web-based platform. EasyMarkets offers trading on its innovative proprietary web-based platform and its intuitive mobile app for Android and iOS. EasyMarkets offers great services for newer traders but also suits advanced traders who favor MetaTrader 4.

  • easyMarkets Review in 2025 Spreads & Fees Compared

    easyMarkets Review in 2025 Spreads & Fees Compared

    easymarkets broker

    This ensures I can access a variety of digital assets beyond what is locally available. Of course, we all know that commodity trading isn’t without its challenges. Beyond price volatility, there are factors like storage costs and supply chain disruptions that can eat into profits.

    This fee is charged every six months until there is trading activity or the balance goes to zero. Accounts with a zero balance may not be subject to this inactivity fee, but the broker might impose it at its discretion. Also, we found that easyMarkets doesn’t charge any fees when you fund or withdraw from your account, which is a positive thing. Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

    The platform offers one-click CFD trading and pre-installed indicators, extensive tools for in-depth analysis, and enhancing traders’ experience. Besides, clients have access to 150+ markets, such as currencies, metals, commodities, indices, cryptocurrencies, and shares. Traders also gain access to historical data, back-test their strategies, and use Expert Advisors for automation of trades. The MT4 platform also enables accessibility and flexibility as it is available on multiple devices, including iPhone, iPad, Android, and PC. The accounts are developed to meet the individual needs of clients, giving them access to good trading conditions.

    What is the minimum deposit at easyMarkets?

    • The future of crypto trading in Jamaica looks bright, but it has a high percentage of losing traders.
    • These features are available with brokers like eToro or XTB, which offer interest on cash balances.
    • So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account.
    • While this feature isn’t as common as in larger markets, some brokers are now offering commission-free trades for select stocks or during promotional periods.
    • Count on Forex Broker Guru to bring clarity to the world of forex brokers and elevate your trading experience.
    • The easyMarkets VIP account comes with a host of features that include fixed spread, zero commission, multiple base currencies, the choice to access all the products from the easyMarkets or MT4 platforms.
    • The company started out offering FX pairs and this has been their major focus over the years, which is clearly evident in the wide selection of products offered under this category.

    Besides the security the broker provides, it also has good trading conditions, supporting a variety of trading platforms. Offering a good range of accounts based on platforms, offering competitive fees with both fixed and floating spreads, with no commissions. Low minimum deposits, no commissions on trades, and protection measures in place add to the appeal of easyMarkets, making it a favorable option for everyone. In conclusion, EasyMarkets stands as a broker that lives up to its name by providing a straightforward and accessible trading experience.

    easymarkets broker

    easyMarkets Review Of 2025

    There is no minimum amount you have to withdraw from your trading account to credit/debit cards or eWallets, but when you make a withdrawal to a bank account, the required minimum is $50. The typical withdrawal processing time is one business day, and withdrawals must be made to the same account you originally deposited funds from. You’ll also get a useful market sentiment indicator called Inside Viewer so you can see what other traders are doing. This indicator appears directly below the price chart on the default interface of easyMarkets’ web-based platform. EasyMarkets offers trading on its innovative proprietary web-based platform and its intuitive mobile app for Android and iOS. We found easyMarkets’ fee structure to be fairly competitive, particularly with an average EUR/USD spread of 0.9, which is better than the industry average of 1.08.

    easyMarkets is a Multi-Assets Trading Platform with over 275+ Assets

    With an advanced, but at the same time easy-to-use platform, beginners will not be overwhelmed. In addition, easyMarkets educational resources are aimed at beginner and intermediate traders, offering guidance just from the start of their journey. So, to the question of whether the broker is good for beginners, the answer is a solid yes. EasyMarkets, headquartered in Limassol, Cyprus, is an online trading platform founded in 2001.

    High-risk assets like CFDs and cryptocurrencies demand extra caution, and I’ve learned to approach them carefully. As Jamaica’s regulatory landscape evolves, I stay vigilant about updates that could impact my trading. Choosing brokers licensed by the Financial Services Commission (FSC) gives me confidence that my funds are protected. Whether you’re trading stocks, Forex, commodities, or cryptocurrencies, staying informed and choosing the right broker is key to your success.

    • Regulated Jamaica Brokers lowers your risk of loss of deposited trading funds.
    • EasyMarkets offers various funding payment methods listed in your easyMarkets dashboard if available in your region.
    • This commitment to transparency builds trust and enhances the overall trading experience.
    • I’ve used both mobile apps to check positions and execute trades quickly on the go.
    • Guaranteed negative balance provides peace of mind as volatile economic events are known to lead to large losses for traders without protection.
    • The range of account types and advanced software features are also great benefits available to all easyMarkets clients, which is worth consideration.

    Capital adequacy

    Clients should thoroughly research different brokers and their offerings before making a decision. Some brokers set limits on the number of commission-free trades you can make within a specific timeframe. For instance, a broker might offer 10 commission-free trades per month, after which regular fees apply. However, for frequent traders, exceeding these thresholds could result in unexpected fees. Monitoring your trading activity can help you avoid surprises and make the most of commission-free benefits.

    easymarkets broker

    Futures bounced modestly overnight led by the stocks that were most beaten up yesterday however, those gains faded by the open. Lowering your risk is one of the benefits of working with a properly regulated Jamaica Brokers. This means IC Markets are supervised by and is checked for conduct by Seychelles Financial Services Authority (FSA) (SD018) regulatory bodies.

    easyMarkets Inactivity Fees

    EasyMarkets’ innovative dealCancellation feature delivers a major advantage to traders who need to undo losing trades. This feature is especially helpful for newer traders and news traders who operate during volatile markets or are more likely to make mistakes while learning. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets.

    The regulatory commitment requires the easymarkets broker utmost level of security in various ways and includes clients’ safety of funds to assure integrity and safe performance. EasyMarkets has been in operation for over two decades, expanding its services on a constant basis and providing quality trading conditions to clients globally. Based on scrupulous research, the broker holds licenses from some of the strictest regulatory authorities (ASIC, CySEC, FSCA), that ensure a risk-free environment.

  • The Newbie’s Guide To Net & App Prototyping

    As talked about, generally, you ought to be utterly nice with the On Click possibility https://beyondthestoop.com/?q=. Before you begin, ensure to add a copy of each related screen and element on a brand new page. You should organize every thing in logical order to avoid confusion and assign identifiable names.

    Website Prototypes Examples And Templates

    They marvel how content material must be categorized and labeled on the web page. Content should at all times be categorized based on the user’s expectations, and the finest way to study expectations is to conduct card-sorting workouts. A prototype is created using sketches, wireframes, or mockups—by turning them into interactive property. This interplay sample allows a screen to load over another in the type of a modal, popup, or overlay across any variety of prototyping screens. Very commonly encountered in cell apps and websites, it additionally has broad performance in internet prototyping. This traditional internet or cell app performance goals to enhance the general consumer experience of lengthy scrollable pages, similar to responsive web sites.

    • It’s a possibility to discover completely different layouts and functionalities.
    • Prioritize options that matter most to your workflow while keeping an eye on budget and future scalability.
    • This course of can drastically enhance the readability of your imaginative and prescient.
    • This interplay sample allows you to enable an otherwise disabled button only when a selected situation is met – on this case when both checkboxes are checked.
    • Unnecessarily long forms, or forms which would possibly be over-complicated, hard to understand or glitchy may cause users to desert your product and by no means return.
    • For instance, your goal could be to sell merchandise, share data, or join with clients.

    Choosing The Proper Prototyping Instruments

    Utilize instruments like Figma or Sketch to convert your sketches into extra precise designs. Wireframes help in visualizing consumer journeys and the interactivity of elements. User circulate mapping is used to demonstrate the functionality of your internet design and that is what’s going to flip it from an online mockup right into a fully-fledged website prototype. To take this one step additional, the preview function in Uizard grants you the ability to click through your web site prototype as a person would. Here you can test your web prototype for yourself or share the design for others to do the identical. And now your web site prototype is finalized and in a position to be despatched over to a web developer to get it up and operating.

    Tips On How To Build A Net Site Prototype With Visily

    By employing prototyping strategies, developers can ensure a more efficient development cycle, fostering creativity and supporting higher decision-making. With a single device, you can cowl the whole cycle of designing your products. Start by conceptualizing with low-fidelity wireframes, iterate, and validate your designs with high-fidelity prototypes and even interactive simulations. Defining your goals and goals can help you keep centered through the prototyping process. It also can allow you to ensure your web site meets the wants of your customers.

    You ought to due to this fact make sure that your prototype is responsive and may be viewable and testable on different gadgets. The difference in the display screen decision of varied gadgets like laptops, desktops, tablets and smartphones means your web site must be responsive. It’s always higher to begin out your responsive design from the smallest device first. This is called “mobile first design” and is considered a greatest follow all through the design world. Because scaling up a design is at all times much less complex than the other means spherical. Adding prime quality photographs, in addition to interplay is a technique of transferring up the constancy chain and edging nearer to the top product.

    Your wireframe initiates this course of, by directing focus towards the necessary thing elements of your design. Meanwhile, the prototype permits for the addition of recent details. Designers and developers have an area to excellent their products, whereas stakeholders can get a practical idea of the interface early on. Even clients benefit from the flawless person interface that prototyping helps develop. By figuring out and addressing points early on, prototyping can pace up the development process and save time in the long term.

    Regular testing must be in your product roadmap and be considered one of your most necessary objectives when it comes to prototyping. You’ll see below that it’s an necessary part of the iterative course of within the agile methodology. Testing helps you discover ideas and reveal flaws so as to rule out what doesn’t work and continue operating with what does. When it involves prototyping a cellular app for a native cell platform, you’ll have to make positive that you design it in accordance with the iOS’s design specs. For instance, make sure that you adhere to Apple’s Human Interface Guidelines and Android’s Material Design.

    Understanding the core principles of this transformation can significantly improve your workflow. Or when you have opted for the website wireframe template you possibly can turn Wireframe Mode off to transform your wireframe screens straight into editable web mockups. However you’ll be able to go away long-form copy to be added within the prototype part.

    You can create complete user flows, add interactive elements like buttons and sliders, and even add dynamic components like pop-ups and scrolling. Create from sketches, circulate diagrams, image sliders, low-fi wireframes, mockups and static UI designs to completely practical interactive prototypes with easy drag-and-drop. All level of visual designs are created in one device to share ideas with stakeholders, shoppers, and other friends, completely achieving your design goals at different phases. It offers customers or stakeholders a clear view and correct sense of how the final product will look and the way it interacts. And, its real-time preview function allows instant feedback and iteration, facilitating a extra efficient design course of. Its drag-and-drop functionality and pre-built elements make it easy for anybody to create mockups quickly.

    Add visuals from our free library and make your web site mockup come to life. Unlock potential with helpful resources and pricing for all designers. Before you run your prototype, ensure to change the required settings. Figma enables you to customize the overall presentation and behavior of your prototype. With a single click, generate specifications documents out of your prototypes.

    One of its greatest aspects is that it creates an area for development prior to publishing a website. Overall, many tools may help with prototyping web sites, and one of the best one for you’ll depend in your specific wants and workflow. Sketching is a useful approach to discover and iterate on totally different concepts and concepts rapidly and can help you get a way of the overall format and structure of the prototype. Conducting analysis will help you create a prototype that’s well-aligned with the needs and objectives of your audience and has a better chance of success available in the market. You first must create a website to get your concept on the market, right?

    Take time to identify your audience with some preliminary user research research. Understanding what users want and marrying those ideas with what your web site is meant to do can arrange a successful foundation. Prototypes act like an outline, permitting teams to define the scope of their work early on. Specifying what features are needed creates a foundation for focus, where any additions that fall outdoors of the project’s scope can be easily caught and redirected. You can even scale back risks past performance through the use of a prototype to make sure the product aligns with the visions of stakeholders.

    Additionally, stakeholders can present feedback, ensuring the ultimate product aligns with consumer expectations. Prototypes can even help to evaluate the technical feasibility of the design. The engineering staff can evaluate a prototype and find areas that will be hard or unimaginable to implement. It’s beneficial to use collaboration design tools so that design and improvement teams can interact with each other during design handoff. It will enable us to communicate design selections in actual time and discover extra possible solutions.

  • The Plain-English Guide to Data Warehouses + Examples

    The Plain-English Guide to Data Warehouses + Examples

    A hybrid (also called ensemble) data warehouse database is kept on third normal form to eliminate data redundancy. A normal relational database, however, is not efficient for business intelligence reports where dimensional modelling is prevalent. Small data marts can shop for data from the consolidated warehouse and use the filtered, specific data for the fact tables and dimensions required. The data warehouse provides a single source of information from which the data marts can read, providing a wide range of business information. The hybrid architecture allows a data warehouse to be replaced with a master data management repository where operational (not static) information could reside. Typically, a data warehouse is a relational database or columnar database housed on a computer system in an on-premises data center or, increasingly, the cloud.

    It specially designed for a particular line of business, such as sales, finance, sales or finance. In an independent data mart, data can collect directly from sources. The data is processed, transformed, and ingested so that users can access the processed data in the Data Warehouse through Business Intelligence tools, SQL clients, and spreadsheets. A data warehouse merges information coming from different sources into one comprehensive database.

    Data lakes also use a flat architecture where data is hierarchical or non-relational when stored. Using folders and subfolders makes up the hierarchical organization of files. Uncovering the differences between a data lake and a data warehouse starts by digging into the details of each. Sometimes, having all your data in one place is more beneficial to your bottom line. These use cases illustrate when a user should employ a data warehouse instead of a data mart. In short, a data mart is simpler than a data warehouse, storing data from one department rather than the entire company.

    • ‍Data Extraction – the process of collecting or retrieving data from a variety of sources for further data processing, storage or analysis elsewhere.
    • Investment and Insurance companies use data warehouses to primarily analyze customer and market trends and allied data patterns.
    • In a data warehouse, information flows in continuously while analysts review it.
    • Finally, the access tools allow end users to interact with the data warehouse.

    Dimension Table

    Explore the data leader’s guide to building a data-driven organization and driving business advantage. It is best to evaluate current data strategies and consult experts for implementation. Explore modern data platforms and how other companies are applying them to achieve their business https://traderoom.info/the-difference-between-a-data-warehouse-and-a/ goals. Our training courses adopt an innovative Blended Learning approach, a hybrid between face-to-face and distance learning, and can be taken as an intensive BootCamp or as Continuing Education. The Data Warehouse is at the heart of the data science professions, and our different courses offer you the opportunity to learn how to use them.

    The advent of open source technologies and the desire to reduce data duplication and complex ETL pipelines has led to the development of the data lakehouse. By combining the key features of lakes and warehouses into one data solution, lakehouses can help accelerate data processing and support machine learning, data science and AI workloads. OLAP software performs multidimensional analysis at high speeds on large volumes of data from a unified, centralized data store, such as a data warehouse. Understanding a data lake vs. a data warehouse is crucial to modern data management in any organization. Your business goals and current data management practices will drive the choice between a data lake and a data warehouse.

    Analytics

    Extend enterprise data into live streams to enable modern analytics and microservices with a simple, real-time, and comprehensive solution. Many organizations use both warehouses and databases to cover their needs. Below is a side-by-side look at the two primary factors and how they can work in tandem for you. They are very useful in allowing companies to quickly and easily access data from multiple sources in a centralized manner. In healthcare, data warehouses are used to predict treatment outcomes, produce patient reports and share data with insurance companies.

    The HubSpot Customer Platform

    The data warehouse is the core of the BI system which is built for data analysis and reporting. Data warehousing is essential for modern data management, providing a strong foundation for organizations to consolidate and analyze data strategically. Its distinguishing features empower businesses with the tools to make informed decisions and extract valuable insights from their data.

    A data warehouse can centralize data from various data sources, such as transactional systems, operational databases and flat files. It then cleanses this operational data, eliminates duplicates and standardizes it to create a single source of truth that gives an organization a comprehensive, reliable view of enterprise data. Adopt new processes to optimize the data warehouse and maximize its business value. Established and emerging practices can help organizations optimize the management of a data warehouse and maximize the value it delivers.

    Article sources

    ‍Data Governance – the system for defining the people, processes, and technologies needed to manage, organize, and protect a company’s data assets. ‍Data Exchange – process of taking data from one file or database format and transforming it to suit the target schema. Artificial intelligence is a broad term that refers to systems or machines that mimic human intelligence. Machine learning and AI are often discussed together, and the terms are sometimes used interchangeably, but they don’t mean the same thing. An important distinction is that although all machine learning is AI, not all AI is machine learning. Left to their own devices, business users will fend for themselves.

    Slowly Changing Dimension

    Data warehousing has revolutionized the global banking and finance sectors. The BFSI segment can count on business intelligence companies in the USA to develop robust warehouses & attain standard security compliance. It keeps a record of available and out-of-stock items in the inventory. Manufacturers can use data warehousing tools to track data related to vendors, logistics, etc.