Category: Software Development

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Which is best approach to software development: Agile or Waterfall

Which is best approach to software development: Agile or Waterfall

Coding happens to be the first thing that occupies our mind when it comes to software development. Software development is a long drawn out process as it entails in depth analysis, viability assessments and planning, prior to kicking off coding. After all, there is no point in spending time and effort on an idea that is wasteful. For instance, you are holding an event and have solicited the presence of a few but if you have not planned the event well, everything will fall apart. The same holds true for software development. In this write up, we will be touching upon two of the most regularly used approaches to software development—Agile and Waterfall.These two approaches are utilized for any management project, they are commonly utilized for software development. Agile and Waterfall methods happen to be two types of Software Development Life Cycles (SDLC) that assist you in setting up the method of a new project for design, development, and testing of the software. The approach you select initially defines the sequences of these stages. What sets apart Agile and Waterfall methodologies is that the former permits an iterative development and the latter adheres to strict sequence. Now let us understand these a bit better.

Also Read : The Agile Way Of Testing Software ?

What do you mean by Software Development Life Cycle?

Software development has several stages. These stages happen to be Need Evaluation, Planning, Software Designing, Software Development, Software Testing and Software Deployment which together is called SDLC . Based on the project and preferred outcomes, we have various methodologies to this lifecycle. While Waterfall and Agile happen to be usual approaches, there are others as well including V and V model, Spiral model and Prototype model. Based on the needs and other specifications (like industry, type of software, the technology used), we arrive at the approach to utilize.

Waterfall Method

Also called Linear Sequential Life Cycle Model, Waterfall is an extremely sequential approach. As it is obvious by now that the method adheres to a strict pattern, implying that the software development process proceeds merely to the next stage when the first one finishes properly. It’s meant for simple projects having no future development. The Waterfall method comprises seven phases

– Start: The beginning where you conceive the design.

-Origin & Assessment: Collect and save the things needed for your software development project such as system, software requirements, etc.

– Devise: At this stage, you will ascertain how your software will work and the elements essential for coding.

– Build: It is the implementation time when you code all components of your software & test it alongside; you also merge every element with other units to enliven the software architecture in the design phase.

– Examining: This phase warrants excessive testing for users, finding bugs, etc. You must go forward and backward in this stage to tackle the problem that you find in the tests.

– Execution: This is the final stage where the software goes live to be utilized by the clients.

Advantages

As clear as daylight: The timelines and deliverables regarding the project are arrived at beforehand. This establishes a lot of clarity and collaboration between the development team and clients.

Excessive Documentation: This approach needs excessive documentation of every phase cutting out the prospects of mistakes or misunderstandings.

Effective Work: You do not require to have the full development team for a sole task. This method gives a clear view of tasks to carry out permitting each individual to concentrate on their activities while others involve themselves in other facets of work.

Build: This is the implementation time when you code each element of your software & test it alongside; you also merge each element with other units to bring the software architecture in the design stage to life.

Hands-Off Approach: It hinges on a hands-off customer approach as post the initial design & plan, there is minor or zilch customer presence till you reach the review phase.

Demerits

Deficiency in customer engagement: Some projects need a lot of customer involvement based on the product. Also, at times clients do not like a hands-off approach. In any case, this approach leads to frustration as well.

Tough to effect changes: This method believes in following a strict sequence and this makes it tough to go to the previous one to effect changes. This can be problematic if a developer confronts a roadblock. Software development needs adaptability, more so as you cannot expect customers to be familiar with software totally from the start.

Last-Minute Testing: This is a method bound by time. It is not unusual for development projects to go behind the schedule as coding consumes a lot of time. Resultantly, to catch up with the deadline, software developer teams dilute the testing stage by doing a rush job.

Also Read : Which software development approach works best ?

Agile Method

As for the Agile method it is based a lot on involvement and adaptability. It has 2 chief components, such as time and teamwork. In this method, rather than building a timeline for the total software development project, you dissect the same into personal deliverable pieces. These deliverables are known as sprints, each of them involves a few weeks. Once a deliverable is through, it’s submitted to the clients for assessment. This assists in us drawing the plan for the next one.

Advantages

Client engagement: This promotes a positive culture of constant engagement between customer and development team.

Flexibility in terms of Deliverables: It permits dynamism as far as deliverable is concerned. It depends upon the sequence of significant tasks. For instance, it offers flexibility to unleash the basic software prior to building the full suite.

Highly Adaptable: This is the best part of Agile method. It offers customers a clear idea of what is accomplished and what is not; the developer can easily get into the planned sprints devoid of any hiccups.

High client involvement: It is fixated with clients as they get involved in each stage of development.

Demerits

Tough at times: It needs the whole development team to be involved in one project. This is very tough for development companies having several projects happening simultaneously.

Expensive: Time-based sprints permit planning, but prospect of deadline breaching the limit becomes higher. Also, in case a project needs to develop extra sprints, it can be a bit expensive.

Excessive Communication: This method needs very good communication, the developer has to be in regular touch with the client in the entire project.

In the end

The method to use hinges on several factors. For example, Waterfall is ideal when there is no or less need for client interference while Agile would be perfect if the project needs regular feedback and engagement of clients at every stage. Agile is basically meant for complex and big projects devoid of limited budget. You must factor in every facet prior to reaching the end game.

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Chief attributes and developmental cost regarding POS ?

pos software development

What Is A Point Of Sale System?

Retail and Restaurants are main sources of our routine purchases and in case your store is only accepting cash, you end up being short-changing yourself. Cash is very limited these days as the buzz is on digital wallets and approximately 95% of all transactions happen via a Restaurant or Retail POS system. These devices process customer purchases, tackle payments, and document sales.

A good Retail POS system assists you in achieving a lot with new technologies such as handling inventory & customers, empowering your staff, monitoring purchases, and spot & reward regular/loyal customers. Everyone is aware of these advantages. But, to have an expandable POS system, it is critical to find the right POS System Development Company that has knowledgeable and experienced developers with good understanding of your industry vertical.

A Guide to POS Features

There happen to be several aspects you should look into while researching about the company, but the first thing to consider is whether to go for an old-fashioned POS or mobile POS.

Traditional POS System: The elements of this device include a stationary touch-screen computer display, credit card reader, and cash drawer. Extra pieces might have printers and scanners.

Mobile POS System (mPOS): This is generally a tablet configuration which is used both in stationary and mobile apps. It is useful with or in lieu of the traditional stationary point-of-sales systems.

It is tough to select a traditional POS or mPOS but you are left with no choice. In this matter, look into other factors that could affect your business:


4 Questions to ponder over prior to Buying a POS

Do I Require The Fastest Processor In The Market?

Having a good processor speed is no guarantee for better performance. Today things have changed as technology has touched a point of diminishing returns. The variation in a mid-tier processor and a top-tier processor in a retail or restaurant hardware is hardly a prominent matter. The mid-tier can be sufficient for the majority of businesses.

Does My POS Have Any Kind Of Physical Longevity?

The criticality of durability is quite apparent but it is not easy to tell these days the longevity of a piece of hardware. Every hardware supplier boasts about the durability of their products. When a POS hardware vendor says their product is long-lasting then you have to ask about:

Spill and drip

Dust, lint, and debris


Surge and lightning


Electrostatic discharge

Impact, drop, vibration, and shock


Environmental: thermal and humidity


Electromagnetic compatibility: radiated immunity and radiated emissions

Is it a Must for Point-Of-Sale Hardware to be Built Specifically For A Retail, Restaurant, Or Any Other Environment?

Certain suppliers utilize the same hardware for every business hardware setups. However, you should know the differences to make a good decision for your business.

You can begin to see decision making prospects opening up when you imagine the manners in which your business will utilize a POS system. Some important questions to consider are:

Is any hardware proprietary or is it possible to own it?


Is the system feature ideal for your business needs of the future?


How much does the software cost?


How much money to be kept apart for hidden charges?


Is there a requirement to sign a contract?


How to select the apt POS System in terms of Size, Scale & Space?

In case your business location is restricted in space then you should consider the tablet POS; their configuration is easy and size is tiny vis a vis traditional POS systems. It gives you adequate foot space in your store. The mPOS systems are attractive and ideal for closed spaces as they provide a flexible solution. These can be utilized in mobile and stationary setups. But, if you are going to function in a bigger retail space with several checkouts, you can go for a traditional point-of-sale system. These are huge and come with a package of solutions that carry critical peripherals usually used at a checkout.

5 Excellent POS Systems 2019:

  • Verifone
  • Clover
  • Ingenico
  • First Data
  • Equinox

POS Software Elements

Cloud-Based (Saas) or Software-as-a-Service happens to be a system that can be accessed and assisted via the internet. If the internet goes down, most POS systems can monitor sales and sync once the connection comes back.

On-Premise is the one that requires a business to purchase one or more licenses directly from the software; which can be installed on the servers or computer system. In case you have a big organization to track then it might turn very inconvenient to update and maintain the software by yourself. You should look at taking the help of a dedicated IT professional.

POS Hardware Components

This is a list of the rudimentary hardware elements needed to assist any POS system

  • Touchscreen Monitor
  • Barcode Scanner
  • Cash Drawer
  • Pole Display
  • Magnetic stripe reader
  • Receipt printer

How Does POS Help You?

Data is of paramount significance currently when it comes to decision making. Earlier, mere conjectures were the real source. This implies that you require all data you get from anyone who communicates with your business. Data such as customer buying/return history, sales detailed by item, reports on stock inventory, and monthly/yearly/seasonal sales reports. Devoid of these, your business growth can go for a toss. Other beneficial reasons that come to mind are:

  • Expedite report generation
  • Cuts down inventory overhead
  • Quicken busy checkout lines
  • Superior services for customers
  • Offer prompt inventory data to vendors
  • Maximize traffic online & offline in your store
  • Time saved on back-office inventory operations

9 Essential Aspects In Your Point-Of-Sale System

Integration: Your POS system must possess a configuration to be merged with other segments. For example, accounting, time & attendance, inventory management, loyalty & gift cards, etc. If your system is integrated then room for errors and discrepancies will be very frugal.

Employee Management: This tool is basically for your employees logging in and out post their shift. This even helps in dealing with employees’ schedules and payroll.

Inventory Management: Inventory thinning is an issue all businesses confront. You should deal with this matter straight away by handling the on-site inventory quantity. This inventory management provides you some room for your stock at every time.

Customer Management: Find and rapidly spike the number of good consumers with this feature. This procedure will gather data on your customers’ past purchases and thereby permitting you to find out your most useful customers through their spending pattern. This additional clarity transparency can be accessed with a POS system.

Sales Reporting & Analytics: Apart from monitoring the quantity of your selling products this system even reflects the revenue you are earning on each product. Understanding the lucrative items in your business permits you to devote your time and effort judiciously.

Mobile/Tablet Access: The mobile & tablet POS access takes immobility out of your life. You can obtain access to your POS system from anywhere.

Streamlined Purchasing: This is an important feature that cannot be ignored. The process involved in a company to get goods and services can affect your business’ profit margin, cost, and entire success.

Customer Relation Management: The system keeps the portfolio of frequent customers which permits the business to get particulars such as a customer’s previous purchase, time they were originally included etc. Hence, improving the customer experience by understanding the customer personally.

Stock Management: This is time saving as critical information is being tracked properly. You easily handle bulk, understand top sellers, establish order triggers for sales, scan items anywhere etc. This aspect cuts down the time spent on physically ordering and computing your supply levels.

Extra POS Features:

Quick & Precise Billing: The manual steps involved in carrying out a transaction will come down drastically and hence improving employee productivity and performance.

Safety: Every POS system would follow the Payment Card Industry Data Security Standard (PCI DSS). This assists in safeguarding the critical customer data such as CC numbers and phone numbers.

Potent Reporting: It assists you in getting to know what is happening in each department of your business minus overseeing each department. Robust reporting permits you to identify patterns, view where the problem is, and where the prospect of growth lies. Such detailed info allows you to observe your inventory for an SKU-level view of your sales.

Quicken Growth with Multi-Unit Management: Having a sole franchise can aid you in seeing the requirement to save on costs and opt for a medium with lesser features. The ideal thing to do is to opt for a franchise point-of-sale system that enables you to handle several units through a single dashboard. It can be easier for you to expand when your system is equipped with multi-unit handling abilities permitting you to deal with various stores properly.

What is the cost of A POS System?

Pricing Prototypes

Pay-Per-Month: This happens to be the most sought after system in the market at present. Prices differ as per the brand you opt for and how the initial discussions pan out. The base pricing will be fixed according to per user or Register. The variations stand out when you have a requirement for only one register or multiple, and the number of employees working. The present pricing model in the market differs from $35-$40 for minor retail stores and for big businesses $50 would be the starting rate.

Pay All At Once: This is not utilized commonly as it entails huge upfront costs.

Hidden Charges

All industries have some covert fees involved when it comes to making a POS system. You should ask questions regarding your prospective establishment and then get an understanding of all costs.

Hardware Expense: Ensure every hardware expenses are added in your estimate. There might be sudden surprises like believing that you require one PC or Tablet for a register however you might as well have to purchase a whole kit to cater to it. This is the point where pricing models differ marginally as software companies regularly bring these kits where the prices differ.

Customer Service Charges: Each vendor tackles their customer service independently. You might see certain companies providing free services including free training and live chat; On the other hand, certain vendors would levy extra services. So, keep track of those vendors, who can be beneficial to your business, and those extra costs to the total estimate.

Credit Card Charges: Keep in mind the percentage of each solution charge as that variable would lead to extra fees. It might be a time-consuming affair to set a detailed estimate to begin with but you have to be ready and precise on the basic estimate.

Extra Features: It is better to remember that any feature you wish to include in your POS system might entail a hidden cost. Usual norm with companies is to levy extra reporting features. Monitor all the features included to be clear about your estimated costs.

While building a POS system, consider these above-mentioned hidden costs to assist you in selecting the apt POS Software Development company that is perfect for your budget, business requirements, and needs from the system.

What you can anticipate in terms of payment?

You should be prepared to pay something in the range of 2% – 3% of your yearly revenue and between 12% – 18% of that expense for annual maintenance and upgrades. If you are a small to medium retail store, then you can avail more free alternatives in the markets. Eventually, identifying the predicted costs for a POS system needs time, research, and a good understanding of what your business requires at present and going forward. With technical evolution, possessing a POS system attached to your business is important to encourage growth.

It is better to appoint a team of skillful POS Software Developers with very good understanding of some of the POS systems in the market you are trying to study in detail.

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How digital banking can save your day in these tough times?

How digital banking can save your day in these tough times?

Introduction

With the Covid-19 continuing its infectious spread, banks and the financial sector are in dire need of new and refreshing customer experience. They have to get adjusted to the changed realities to serve and maintain their customers and involve them remotely. In order to deal with the challenges posed and stay afloat, several banks have transmitted positive vibes like perks of online banking to their customers’. Services such as comfort of performing round-the-clock transactions and access of instant information regarding their account happened to be measures which banks have taken these days to retain their customers. Also, some banks are even having tutorials to create awareness among their tech-unfriendly customers and upgrading the scope and type of transactions to maximize the use.

With the Covid-induced social distancing measures in place, the use of Digital banking has gone up immensely. This will have a direct bearing on how people will carry out banking transactions in future as well. Even users have taken to digital banking like fish to water as visits to brick-and-mortar branches have reduced.

Components that are highly likely to be affected shortly.

Changes in digital customer experience

Digital transformation has made its way into the banking and finance sectors some years back, and Covid 19 has only expedited the process. Instead of a luxury, this has become a necessity in the current scenario for banks and financial institutions. As per McKinsey report, customers who happened to be happy over digital banking experience will in all probability open new accounts and create more positive word of mouth. With social distancing being the new normal, banking procedures such as customer onboarding and product origination will be digitalized to offer an incredible digital experience to customers at the cool confines of their abodes.

More emphasis on engagement

With high perks on offer customers are highly likely to shift towards involvement through a digital banking experience. With digital transactions being more convenient and involving zilch physical efforts the trend will gain more traction even after the Covid-19 problems subside.

As per Harvard Business Review, the major repercussion of the pandemic is poised to be the spike in data-enabled services in every aspect of life. This means not just the operations arena, but banks will have to work harder in the domains of virtual sales and marketing to promote those services. Through data analytics tools and instant campaign management, banks will be able to transform customer data into logical insights and utilize the same via making the correct decisions at the appropriate time. This will assist banks to accelerate both involvement and bottom line in the post-Covid scenario.

Embracing next-gen tech

In the approaching years, banks will see a lot of changes in the digital market. Hence, banks and financial institutions will become increasingly receptive to embracing new technologies to add more convenience to their lives. Banks will even welcome more expandable and flexible technologies such as AI, Machine Learning, and Cloud platforms to serve the customers in the best possible manner. But, this evolving scenario will heighten competition, which would prompt banks to keep on delivering new improvements and features through their banking apps.

Finally

Hence, it is easy to surmise that the digital trends that have caught the imaginations of many are highly likely to flourish as a result of the pandemic. Retail banks and other financial institutions that can change their work patterns in line with the existing reality, adopting digital technologies, will make more more impact in the mercurial market in the future.

We can assist you with digital transformation techniques through our development and industry expertise. In case you wish to learn more about how we can aid you in these tough times then approach us without any hesitation.