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Enabling Organizations To Achieve Digital Excellence

Trusted global tech partner

With more than 15 years of experience, we nurture, integrate, and maintain your business with our top-notch digital solutions. Leverage the expertise of a result-driven team and bring digital excellence to your enterprise.

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Enabling organizations to bring digital transformation

Enterprises continue to foster a pragmatic problem-solving culture through digital innovation. For companies to achieve a competitive edge, technology must be integrated into their business processes.

BITLogix, since its inception, has aimed to accelerate the growth of enterprises with a wide range of digital solutions. We are offering top-tier team augmentation, robotics process automation, cloud engineering services, modern data engineering, and full-stack development services. Our services help companies in utilizing the maximum part of modernized technology, reimagine business processes, and transform digital space to help them stay ahead in a fast-changing world.

We leverage more than 15 years of experience to offer you digital solutions that optimize your path to comprehensive, technology-led business success while cutting costs. The experts of BITLogix bring the industry's latest digital expertise into your organization that best suits the interests of your business and keeps on providing solutions to your business challenges.

About Us

  In this advanced era, a digital presence is need of every business to stay competitive. Every business has different needs and challenges that demand a business to invest in custom solutions. Custom software development is perfectly tailored, to provide efficient, and scalable solutions to businesses that align perfectly with their unique business needs. 

In 2022, the value of the custom software development market was at USD 28.2 billion. Which is further expected to reach USD 198.6 billion by 2032 with a CAGR of 21.5%. There are many factors behind this growth such as the increasing need for business process automation and tailored solutions.​ (Global Market Insights Inc.)​ By 2027, the software development market will reach  $1039 million at a CAGR of $22.54% from 2020 to 2027. This shows how actively businesses are shifting towards digital solutions for their business needs. 

Designing custom software requires a lot of time and investment, but it will be solely your property and with time you can easily make changes in the software as per the changing needs of your business.   In this blog, you will explore more about what benefits your business can avail with custom software development solutions. 

Advantages of Custom Software Development: 

A business can enjoy a range of benefits from custom solutions. If we talk about availing off the shelf solution, it might seem like a cheaper and quicker solution, but in the long run, it can affect the productivity and growth of your business. In comparison, the custom solutions are specifically designed according to the needs and challenges of your business and are a one-time investment with long-run benefits for your business.  

Here is the list of advantages your business can enjoy with custom software development. 

  1: Customized Solutions for Unique Challenges: 

  A business can have unique challenges according to its business operations. To fix these challenges and unique business needs, custom software development comes to the spotlight. Custom solutions are built around the business considering every little aspect that ensures the accuracy of the solution. This level of accuracy leads to increased operational efficiency which gives businesses a competitive edge in the market. 

2: Competitive Advantage and Ongoing Support: 

Custom software development offers businesses a significant competitive advantage by providing tailored solutions that address unique challenges, streamline processes, and integrate seamlessly with existing systems, thereby enhancing efficiency and productivity. It also allows for the incorporation of innovative features and a unique user experience, helping businesses differentiate themselves from competitors.  

Moreover, custom software comes with dedicated ongoing support, ensuring continuous updates, quick problem resolution, adaptability to changing needs, and enhanced security measures, which collectively contribute to sustained operational efficiency and security​.  

3: Cost-Effectiveness in the Long Run:  

Investing in custom software requires a higher cost as compared to purchasing the off-the-shelf solution. But in the long run, custom solutions will be a cost-effective solution as it eliminates the cost of multiple licenses, subscriptions, and additional hardware tools.   

Moreover, custom solutions will also cut down the cost of ongoing maintenance and support. It will be solely your property in the end, you can make changes according to your choices without even relying on the tech teams. The client has to invest one time in custom solutions to enjoy its lifetime benefits. A client only needs to sign an Annual Maintenance Contract to ensure the maintenance of the custom solution. AMC provides a bridge between the customer and solution provider that ensures regular maintenance, updates, and support for the custom software annually. This contract keeps the custom solution up-to-date, and secure while providing a reliable support system for any issues that may arise in the coming year.   

4: Better Security and Compliance:  

In this era, where data is the most precious asset of a business, data security has become a major concern of businesses. If considering off the shelf solution, it might cause harm or data breaches to your sensitive data. In the shelf solution, the chances of a threat to your data are high, while custom solutions are designed according to every business’ needs and to protect your data from scammers.  

Moreover, the data is end-to-end protected. A hacker has less chance to access your sensitive data and causes any security vulnerabilities. Thus, businesses that are strict in regulatory compliance requirements can only avail of custom solutions

5: Integration with Existing Systems:   

Custom software solutions allow businesses to easily integrate into the existing software solution of the organization which further adds value to better operation and productivity of the business. Flexible integration allows businesses to enjoy improved workflows so that the employees can focus on more important tasks. With integrated solutions, organizations can offer a more seamless experience to customers. 

Moreover, integration enables organizations to modernize their legacy applications and keep pace with the latest technology trends. This ensures that all your business applications work harmoniously together, reducing redundancies and enhancing overall efficiency. 

  Reasons: Why to Choose Custom Solutions for Your Business 

  1: You don’t want to risk losing control of your company’s data and processes. 2: You don’t want to invest years in developing an in-house product. 3: You want to improve profitability by cutting down the costs. 

4: You want to avoid data compatibility issues or compliance issues in the company.  

5: To enjoy a competitive edge in the market with tailored features and functionalities in your digital solutions.  

6: To offer a better user experience to your customers and employees with improved business operations and better workflows.  

Some Well-Known Success Stories of Custom Solutions

1. Uber: A ride-sharing custom solution

Uber developed a custom ride-sharing platform that integrates GPS tracking, real-time ride requests, and automated payment processing. This custom solution has truly revolutionized the transportation industry with a number of positive impacts. Its positive impacts include door-to-door convenience, safety, and reliable quality. This custom solution offers its users a seamless, efficient, and user-friendly experience that enables it to expand globally.

2. Starbucks: Custom Mobile App

Starbucks has a great repute in the chain of well-known restaurants. Starbucks developed a custom mobile app that integrates with its loyalty program. They designed the customized app to offer their customers a user experience that not only allows them to order ahead but also creates their own Spotify playlist. Moreover, the app offers a distinctive feature: the rewards program which offers plenty of customization for users, including a free beverage on the user’s birthday and personalized suggestions based on past orders. This custom solution has enhanced customer convenience, customer loyalty, better customer retention, and improved sales. 

Concluding Remarks 

   Finding a solution that fits your future needs is crucial for your business growth as well. You can expect these advantages only from custom solutions that will not only manage your current business goals, but it will also promise to meet your growing needs in the future. Moreover, if you want to prevent any data security issues in your organization, a custom solution is the best fit for you. 

Are you looking for a reliable custom solution provider company? Do not look further. We are here to help you. With a certified developers team, we promise a successful custom solution that hits your business interest and meets the growing needs of your business as well. Contact BITLogix today and take a start today.  

   

   

 

With the rise of AI and ML, organizations are more eager to utilize the potential of data fully. Harvard Business Review revealed shocking reviews about AI, according to the reports AI will bring $13 trillion into the global economy over the next decade. The stats show that AI is contributed a lot in offering substantial advantages to organizations. This contribution will drastically improve the organization’s profit margins and business operations.

Read the blog to learn how your organization can leverage AI to harness the full potential of data. In this blog, we will also talk about the use cases of AI/ML in data science and what benefits it offers to organizations.

Use cases of AI/ML in Data 

In today’s era, data is a vital resource for organizational growth and success. With the application of AI /ML, revolutionary results can be produced from data. Here is the list of AI ML use cases in the domain of data science.

1. Data Exploration and Insights: 

AI/ML algorithms can be applied to explore and visualize complex data sets, uncovering hidden insights and correlations that may not be immediately apparent through traditional data analysis methods. Here is the list of processes AI can simplify in data exploration and getting useful insights.

2. Real-Time Data Processing:

AI/ML algorithms process and analyze data in real-time, enabling organizations to react swiftly to emerging trends, events, or anomalies. This capability is particularly valuable in industries where immediate insights drive critical decision processes. With the changing data and trends in the market, businesses have to keep updating their business policies to stay ahead of the competition. 

Explore the critical processes where AI plays a pivotal role in delivering real-time data insights, helping organizations seize timely opportunities and make informed decisions.

3. Data Quality Improvement:

AI/ML models are widely used in organizations to detect and rectify data inconsistencies, anomalies, and missing values that can create disruption in the decision-making process. By improving data quality, and accuracy, organizations can make better-informed decisions based on accurate and reliable information. Here is a list of processes where AI plays a significant role in improving the data quality of an organization.

4. Predictive Analytics:

Integrating AI/ML models with data engineering enables organizations to perform predictive analytics. These models can anticipate trends, identify patterns, and make forecasts, empowering businesses to take proactive actions and stay ahead of the competition. Below, you’ll find a compilation of processes where AI plays a pivotal role in predictive data analysis.”

5. Personalization and Recommendation Systems:

AI/ML integration allows companies to create personalized experiences for individual customer behavior. By analyzing user behavior and preferences, recommendations can suggest products, services, or content that align with individual interests, enhancing customer satisfaction and engagement.

AI can enrich the personalization and recommendation systems of an organization by analyzing the data of individual users. Here’s how AI contributes to personalization and recommendation systems:

6. Data Visualization and Reporting

AI algorithms convert raw data into visually appealing and constructive forms that help understand the hidden value of the data. Pie charts and histograms segregate information into useful and helpful formats that simplify the process of decision-making. Moreover, it highlights the important stats from the data that help generate hypotheses and in critical analysis of data. Here’s how AI simplifies the data visualization and reporting process of an organization.

7. Automated Mapping of Data

AI has been very helpful in the automated mapping of data. It leverages machine learning and advanced analytics to handle complex data integration challenges, making it a valuable tool in the field of data science. It recognizes data patterns and categorizes similar data points. Apart from this, AI also helps in various other aspects that help in the automated mapping of data. Here is the list of processes where AI integration plays an effective role in the automated mapping of data.

 8. Data Pipeline Management 

In data pipeline management, data quality assurance is very important for detecting any sort of anomalies in the data and AI can play a very significant role in improving data quality, detecting errors, and ensuring high quality of the content. Moreover, for seamless integration of data from different resources, AI smoothly performs data enrichment tasks. Furthermore, AI system sends you alerts of anomalies or unusual patterns in the data.

In short, AI handles all these issues effectively and eventually helps you manage data pipelines. Here are the processes given below where AI simplifies the process of data pipeline management.

9. Automated Data Processing:

AI/ML algorithms can automate data extraction, transformation, and loading (ETL) processes, reducing manual intervention of employees and potential errors while processing large amounts of data. This automation speeds up data processing, making it more efficient and consistent. Here’s how AI ensures automated data processing.

Benefits:

Final Thought

The AI ML integration in data science has unlocked a new era of data-driven decision-making which is offering potential benefits to organizations. Organizations can now fully harness the potential of data and improve revenue streams with better and more informed business policies. Moreover, AI is helping organizations unlock hidden insights, streamline operations, and gain a competitive edge. 

AI/ML integration in data ensures validation and cleansing of data that helps organizations establish robust data governance, conduct data quality assessments, detect duplicates, and employ data profiling. 

Moreover, the synergy between AI/ML and data science will continue to drive innovation, transforming industries, and opening new horizons for those ready to embrace the potential of data in its purest form. If you are looking to harness the full potential of data? Contact BITLogix today. The future is data-driven, and AI is leading the way. 

“The cloud is the future”. But are you ready to leverage its potential to revolutionize your business?

Gartner IT Infrastructure, Operations & Cloud Strategies Conference 2023 brings the world’s technology leaders together to hear top trends and find modernized solutions. The conference highlighted the growing cloud adoption rate, cloud security concerns, and cloud modernization practices to upscale your business. 

Cloud adoption is speeding up in 2023, with Gartner estimating the worldwide spending on public cloud services to grow by 20% from 2022. Cloud spending has reached nearly 600 billion in 2023. 

In 2023, with various technological developments, companies can expect to leverage cloud services with a new horizon to modernize their businesses. In this blog, find out what evolving trends in the cloud have helped cloud technology in maintaining a more captivating place in the market.

Here’s a rundown of some trends in 2023 that can shape the existing patterns of the cloud.

Cloud Computing Trends

Top 5 Cloud Computing trends in 2023.

As we all know, cloud technology is not new, It’s evolving every year with new developments that help cloud technology to sustain its captivating allure in the market.

Let’s check out the rundown of some trends in 2023 that can shape the existing patterns of the cloud.

  1. AI and ML-powered cloud
  2. Virtual cloud desktops
  3. Serverless computing
  4. Edge computing
  5. Cloud Security

AI and ML-Powered Cloud

2023 proved to be a revolutionary year with exceptional developments in AI and automation. Almost every technology started integrating with AI to bring a transformation, improved productivity and profit.

A Deloitte survey reported that AI/ML cloud computing supports IT tasks to increase profit margins by 21%.

AI and ML-powered cloud refers to the integration of artificial intelligence (AI) and machine learning (ML) technologies within cloud computing platforms and services. This combination harnesses the power of AI and ML algorithms to enhance the capabilities, efficiency, and intelligence of cloud-based systems. Let’s check out what results this combination is bringing to us in 2023.

Virtual Cloud Desktops

Recent estimates suggest the VDI market is set to grow to a staggering $30 billion by 2026. 

The growing market growth of VDI desktops indicates the growing adoption trend of virtual desktops.

Virtual desktops in the cloud are providing companies with easy access to the right machines and licenses to serve their growing workforces. Employees can easily access the networks anywhere and flexibly work from anywhere they want. Moreover, they have less IT friction with improved productivity. What other benefits organizations are taking from virtual cloud desktops that you must know are listed below? 

Serverless Computing

The Global Serverless Computing Market Reached USD 9318.2 Million in 2022, which is further growing at a CAGR of 22.2% in the period of 2023-2028. By 2028, the market size of serverless computing will reach USD 28960 Million. The analytics shows how quickly serverless computing is getting acceptance in the market due to its effective role in business optimization.

In the midst of a technological boom, the year 2023 witnesses a strong emphasis on sustainability with technology driving impactful solutions. Thus, organizations are increasingly adopting serverless computing as a solution to boost energy efficiency and reduce their carbon footprint. By eliminating the use of IT hardware, serverless computing aids in achieving environmental, social, and governance (ESG) targets, driving market growth. 

Either enhancing user experiences, minimizing costs, boosting productivity, or improving reliability serverless computing offers an ideal solution by enabling organizations to concentrate on application development without the burden of managing the underlying infrastructure. 

Edge Computing

With the increasing reliance on digital services, the cloud has become the focal point of experiences, and edge computing is at the forefront of this transformation.

The global edge computing market is experiencing rapid growth, with a projected value of USD 139.58 billion by 2030, indicating its potential impact on the business world. 

Edge computing is already prevalent in critical sectors such as hospitals, factories, and retail locations, where low latency and reliable data processing are essential. But now It is empowering other businesses to be proactive and adaptive in various areas, from customer engagement and marketing to production and back-office operations. 

This technology is bringing real-time decision-making to the forefront, benefiting IoT applications, autonomous vehicles, industrial automation, and remote monitoring. With edge computing, businesses are gaining faster insights, responding swiftly to events, and optimizing network resources efficiently.

The advent of 5G technology further enhances edge computing capabilities, offering low latency and high-speed wireless connectivity. This opens up exciting opportunities for businesses.

Edge computing provides several advantages, including real-time responsiveness, control over sensitive data, reduced costs of data transmission to the cloud, scalability, and easy access to data. It eliminates the need for a separate “edge network” and leverages the power of 5G connectivity for seamless integration. 

Cloud Security

As in the last few years, with the increased maturity in cloud adoption, the risks and challenges to cloud security are also growing. The rampant shift towards the cloud created various complexities and security concerns for the cloud. Considering the increased maturity in cloud adoption, companies are investing more resources not only in cloud security tools but also in the people required to understand how the cloud works and the subsequent requirements to protect the cloud.

The 2022 State of the Public Cloud Security Report, presented the important insights and security gaps about the current state of cloud security.

The report also revealed that now many organizations are treating cloud security as their top IT priority.

The report highlights that 78% of identified attack paths use known vulnerabilities (CVEs) as an initial access attack vector, highlighting that organizations need to prioritize vulnerability patching even more.

In 2023, many basic security measures such as Multi-Factor Authentication (MFA), least-privilege permissions, encryption, strong passwords, and port security are considered important to apply consistently. 

Are You Looking For Innovative Cloud Solutions?

Cloud technology is constantly evolving. If you want to stay ahead, you need to modernize your cloud architecture to maximize cloud performance. But don’t worry, BITLogix can help you achieve your desired goals by providing you with the latest cloud expertise.

We understand that every business works differently, so we tailor our solutions, considering your specific needs. We work with you to understand your goals and challenges, and then we develop a customized solution that will help you achieve your desired results.

So what are you waiting for? Contact us today to learn more about how we can help you optimize your business with cloud solutions. Don’t wait till it’s too late. Book your free call now.

According to Forbes, global compliance costs increased $33 billion from 2019 to 2020, totaling $213.9 billion last year. Banks have to face severe financial and reputational damage in case of non-compliance. In fact, they spend 5% of their revenue on compliance costs. In the past decade, banking institutions have been spending more than $321 billion on compliance operations and fines.

In the banking sector, compliance management is challenging since regulatory bodies and governments keep introducing and imposing new regulations, and every time the new regulations prove to be more complex than the existing ones. Keep updating these regulations is important for banks to prevent risks of cyber attacks and compliance. Thus, now financial institutions are using technological ways to thwart the risks of cyber attacks from hackers. RPA is playing a key role in the banking sector in managing compliance and risks.

New data from Juniper Research has found that Robotic Process Automation (RPA) revenues in banking will reach $1.2 billion by 2023. With an estimated revenue of above $200 million in 2018, this represents a growth of more than 400% over the period.

This blog will give you a detailed overview of how RPA is managing the regulatory and compliance factors in the banking sector.

RPA use cases in banks for regulatory and compliance management 

For financial institutions, regulatory expectations keep on increasing. Even though penalties are levied for non-compliance with existing rules, as new rules keep on introducing every day. In this situation, the cost of compliance can prove to be a heavy burden. The banking sector is expected to invest 40% in RPA technology for various purposes related to security and compliance. Out of this, 10% to 15% is being invested in compliance and risk management. Banks can reduce or revert this loss by building a culture of compliance with the help of RPA solutions. 

RPA can work well in outlining, refining, educating, communicating, and documenting compliance standards and policies for the banking sector. Thanks to the artificial intelligence and rule-driven sensibilities of RPA. Let’s take a look at how RPA is helping banks in managing regulations and compliance.

  1. AML (anti-money laundering)
  2. KYC (know your customer)
  3. Compliance monitoring
  4. Risk management
  5. Fraud detection
  6. Automated Background Checks
  7. Automated audit report generation

1. Anti-Money Laundering (AML) Compliance: 

Thomson Reuters survey revealed some trends of AML. According to the Thomson Reuters anti-money laundering survey, more organizations are taking help from technology to process and collect information. Within two years, from 2019 to 2021, the percentage of mobile phone authentication has increased to 39% from 23%. Thus, taking help from technology is becoming mandatory for financial institutes to process the huge amount of data for money laundering verification.

The money laundering process includes processing and analyzing data, which takes a lot of time to process, where the chances of errors are always high. RPA proves to be very helpful in automating the process of entering, collecting, validating data, monitoring customer transactions, and identifying potential cases of money laundering in light of the latest developments in regulations. This can help banks to comply with AML regulations and avoid fines and penalties.

2. Know Your Customer (KYC) Compliance: 

The global surveys conducted by Thomas Reuters revealed that the increasing costs and complexity of KYC are leaving a negative impact on businesses. Despite financial institutions’ average compliance costs of $60 million, some institutes have to spend up to $500 million on KYC and Customer Due Diligence (CDD).

According to Thomson Reuters, banks spend more than $384 million per year on KYC process compliance.

Gathering customer information through KYC is a time-consuming and sensitive process where the personal information of users is needed to be taken with great care. KYC procedure takes a huge amount of time to process and the sensitivity of data can affect the results.RPA can automate the whole KYC process and verify customer identities while ensuring that they meet regulatory requirements. Automation of the process through RPA can help banks to comply with KYC regulations and mitigate the risk of fraud while reducing the cost.

3. Compliance Monitoring:

According to a KPMG survey, 60 percent of organization leaders reported that they do not use automation to stay up-to-date on regulation details, which keeps on decreasing their profit margins. RPA bots will make this process very effective by reducing costs and bringing positive results to the table. Regulatory data can be updated in internal regulation databases by RPA bots scraping policymakers’ websites and extracting news about regulations.

By automating operations, RPA allows businesses to take more control of their business operations. RPA automatically monitors, informs, and keeps updated the businesses about recent regulatory requirements. This can help banks to identify and address potential compliance issues before they become a problem and results in the form of fines and penalties.

4. Risk Management: 

RPA automates the process of identifying and managing risks across the organization. This can help banks to reduce the risk of financial losses and reputational damage. In case of any discrepancy, it automatically sends an alert notification to reduce the chances of loss.

While making advances in some areas, banks still rely on many highly subjective operational risk detection tools, centered on self-assessment and control reviews such tools have been ineffective in detecting cyber risk, fraud, aspects of conduct risk, and other critical operational risks. As a final point, some traditional detection techniques, like rule-based cyber risk alerts and trading alerts, have a false-positive rate of more than 90 percent.

5. Fraud Detection: 

RPA can be used to automate the process of detecting potential fraud cases. This can help banks to identify and address fraudulent activity before it results in financial losses.

In order to streamline the flow of operations and ensure regulations, the banking sector can evaluate the importance of RPA technology. Let’s see how RPA is detecting fraud in the banking sector.

6. Automated Background Checks

To comply with the anti-money laundering laws, banks have to verify the authenticity of the customer’s source of income. Validation of the source of income requires a detailed monitoring and screening process. RPA makes this process quick and validates the authenticity of customers’ income. 

Using RPA bots, banks can quickly and efficiently run background checks, credit checks, and fraud detection tests on every customer, alerting banks of any indicators of risk. RPA bots will extract information from internal and external resources and can optimize the data extraction process easily.

7. Automated audit report generation

Financial institutes and banks are being validated by regulatory agencies. To satisfy the concerns of regulatory agencies, the banking industry has to spend significant time and resources developing reports, preparing for audits, managing employees, and consulting with legal counsel to ensure they remain compliant. Banks can simplify this process by eliminating risks, reducing errors, and reducing costs with the help of RPA. Through PRA, banks can automate the generation of compliance reports from data, reducing the time spent on compliance activities. 

Bottom Line

RPA is offering an enormous range of benefits to the banking sector. Banks can easily consider RPA in almost every area of the banking sector. Many banks are now leveraging RPA solutions not only to satisfy the growing needs of compliance and regulatory management but also to improve the user experience and profit ratio. Thus, RPA will not only help you manage regulatory and compliance concerns but will also help you reduce operational costs and improve productivity.

To learn more about the RPA, you can contact BITLogix. BITLogix is offering the best RPA solutions to fix your complex banking problems with our expert team. You can rely on us to find the best solution for your bank’s reliance and regulatory issues. For more details, contact us right away.