With an increasing trend and emerging benefits, businesses are moving towards Blockchain. FortySeven Software Professionals ensure you get the most out of Blockchain technology.contact an expert
Blockchain has appeared to be a revolutionized way of transactions, audits, and financial security for industries and businesses. With the use of cryptography, Blockchain ensures no hacking, leaking, or replication of data.
As multiple computers are connected and integrated to form a chain, this makes data theft nearly impossible. Therefore, data cannot be altered. Also, Blockchain has made transactions securer but transparent. This way, it has helped integration and coordination among businesses - the suppliers and consumers.
How Is Blockchain technology changing the business industry?
Blockchain technology has numerous advantages and benefits to the business industry. Be it small scale business, mid-sized, or large enterprises, Blockchain has changed the way businesses operate.
Some significant benefits of Blockchain for businesses include:
1. Lesser operational costs
Blockchain, acting as a distributional ledger, has reduced operating costs. By eliminating the intermediary, it saves a lot of resources, and thus, the lesser cost is required for information transfer, storage, and process completion. Altogether, it helps businesses earn more profits and higher ROI.
2. Easier audit
As all the information regarding transactions, payments, and other financial activities are stored securely, it eases the audit process. It is not only easier but speedy and accurate as well. Businesses need not spend additional costs and other resources on the manual audit.
3. Allows better risk management
Blockchain also helps in better risk management for companies. Whether it is about scanning the information or avoiding any conflictual situation for businesses, Blockchain eliminates all the risks. With happy customers and employees, it leads to increased profits for businesses.
4. Secured business contracts
Once the information is stored in Blockchain, it cannot be altered. In this way, it allows business partners to have secured business contracts, eliminating the chances of fraud or information alteration. This is especially helpful for a business like suppliers who deal with many clients at the same time, real estate, and insurance companies.
5. Faster local and international transactions
Blockchain currencies are bought and sell globally. Using Blockchain, purchases can be made an easier way. Also, it completes local and international payments and transfers in a secure manner as well as really fast. In addition to that, it reduces the cost of international transactions to a great extent, which is profitable for both buyers and sellers.
6. Going through legal processes
Blockchain ensures going through the legal process efficiently and accurately. The information is available right away, and you need not dig into piles of information. A legal process, such as taxes, is very time consuming and cumbersome. This takes a lot of resources on the business's ends. With Blockchain, handling taxes and other legal processes has become a lot easier. Human errors are eliminated, and refunds are on-time and accurate.
Which businesses should make a move to Blockchain technology?
No business cannot benefit from Blockchain technology. However, some major businesses that should definitely adopt Blockchain include:
Fashion and Retail
Reasons to choose FortySeven Software Professionals
Our development process is the natural evolution of a software process to support today’s changing business environment. We believe that every project should be dealt with a fresh approach. Our industry knowledge allows us to deliver solutions that solve business challenges in 40+ industries. Working closely with you, we define your needs and devise effective automation tool concepts, knowing how to implement these concepts and integrate them according to your specific needs.
More than 12 years of successful global IT outsourcing and our customer’s business augmentation.
We are compliant with ISO 9001:2015 on Quality management systems and ISO 27001:2013 on Information security management system.
Deep Technology Expertise
Our specialists have a vast business and technology expertise and can develop complex solutions.
Full IP Control
We transfer full control over Intellectual Property Rights to you each month.
We manage projects using software for tracking progress and time. This gives you full control throughout the development process, making progress and billing fully predictable.
We have defined each framework with one sincere belief that an engagement model is what that defines a successful collaboration between you and us. Nevertheless of chosen model, you will have the total control, transparency and flexibility over delivery and the budget during the whole development process
This approach doesn’t give the flexibility to you, but it can be used by government or other companies, corporations, individuals if the requirements are clearly defined and all the specifications of the project are known in advance. The involvement of the customer is limited. During the development process, the requirements can’t be changed, any changes will lead to additional fees and make the price of the project not fixed anymore.
Most suitable for small-size projects.
Based under the Waterfall approach.
Strict rules on the specification changes.
Used for projects when all software requirements specifications are clear and predefined.
Outstaffing Time and Materials
This model is based on the rapidly evolving business and technology world. You are able to make changes on the go and pay for the time the development team spends actually working on your product. We will provide you with pre discussed amount of software engineers and IT specialists required for realization of your project of any size. Each iteration is planned together with you before its implementation, that gives you total control over the deliverables and the budget.
Well-adapted to various kinds of projects from small MVP to complex software engineering solutions.
Full participation and control over the whole development process.
Flexibility on your side, you are able to make changes on the go.
Based on Agile approach, Scrum, Kanban or other methodology can be used.
Choose if the time-to-market is important for you.
Dedicated Development Team
This cooperation model allows companies, corporations or individuals to augment their software development capacities. You get the access to human resources like software engineering specialists, devops, QA engineers, technical writers, designers, project managers etc. who will work on your project using your software tools and selected methodology. Our IT specialists can work in synergy with your existing IT department.
Full Intellectual Property Rights every month.
Highly educated employees.
Multi language software engineering and management teams.
ISO 9001:2015 on Quality management systems.
ISO 27001:2013 on Information security management system.
We provide the ability to hire great professionals without having to pay high price and taxes. You receive full control over the software development process and to any of the team members. You receive the opportunity to make instant changes.
Custom Software Development
FortySeven' development process allows us to create software faster, better and cost-efficiently. Strong team collaboration and communication with our clients enables us to enhance security, code quality and stability of our products.
Our expert ability to identify your company opportunities and create ready to use transformation plans. Our approach to consulting services is based on practice and result implementation that moves your business forward and makes it possible to scale up.
We deliver high-quality audit services to assist your needs and help you in achieving business objectives as well as improving business performance by identifying and assess risks. Our approach focuses on understanding your global business processes.