Mobile App Development: Effective Way to Stay Ahead in the Competitive Market

The app development world has experienced a drastic evolution in recent years. Business entrepreneurs are planning to get the mobile app, or some of them have already launched their app on the app store to thrive in this competitive business world. According to a Statista report, both the leading app stores are flooded with the various apps which have been launched by the businesses for enhancing their business reach, it was noted that there are around 2.46 million apps on Google play store and around 1.96 million apps on Apple’s play store.

Most of the businesses these days are facing various challenges in their business, and the transportation business is not an exceptional one. But entrepreneurs must try to understand the challenges they are facing in their business and must develop the solution accordingly to overcome those challenges. Recent technological advancements helped the business to get the best solution for their business, which helps them to meet specific requirements of their customers and business.

Various Hurdles Acts As Barrier for Business Sector

After the advent of advanced technology transportation business has experienced huge growth. According to a Statista report, third-party logistics revenue is growing steadily in the United States, total industry revenue generated by the third-party logistics is expected to reach around 195 billion U.S. dollars in 2019, this number is almost double than that which was found in 2009.

In this techno-driven world, the transportation industry has accepted various innovations and latest technology in order to face various hurdles that they face in their business sector. Entrepreneurs have understood the importance of digitalization and have adopted it for handling various business hurdles and also for enhancing the efficiency of their business. The advent of new and advanced technology is a boon for each and every industry and transportation industry is not an exceptional one. Several innovations and technological advancements have influenced the growth of this industry.

Importance of Data Analytics for the Transportation Sector

There are no such industries which feel that data analytics and data and tracking is useless for them, mobile apps can handle critical challenges. According to a PWC industry report, the transportation industry ascribes high importance to data analytics in the next five years, it is expected that the transportation and logistics industry has 90% more data and other industries have on average 83% of data which have never been accessed.

Using a mobile app transportation business entrepreneur can easily monitor and can have full control over each and every operation, they can also manage data using the app, this advanced app solution will also help them in achieving cost-efficiency for their transportation business. After opting, digitalization in various parts of their business transportation industry can easily access data and can use it in a proper manner to enhance the performance of their business and also for serving the customers in an accurate and better way.

Why Opt for Mobility App Solution

According to a Digital Strategy Consulting report, 60% of British employees are using apps for work-related activities, and more than 21% of departments are using business apps, they believe that using this advance app solution, they can increase their business productivity, therefore they opt for advance app solution for their business, using this app solution they can easily track resources, manage data, get real-time data, etc. This advanced delivery tracking system also helps them to track their vehicle, this ensures its safety and can satisfy the needs of the end number of customers by fulfilling their demand.

Problems That Can Be Solved Using Mobility Solution

With the power of advanced technology and mobile app development, a business entrepreneur can solve all the problems which they face in their sector. They can hire app developers to get an excellent mobility solution for their business, which helps them to manage and monitor all the activities of their business.

These advanced ride-hailing applications offer great relief to riders as they can book the caps as per their convenience from anywhere. Now they did not have to book a cab in advance, they can book it instantly through the mobility solution. On-demand ride-hailing applications are one of the preferred choices of users worldwide as they need not have to quarrel about fare prices for hailing a taxi.

Most of the ride-hailing companies these days provide fixed tariffs to their ideal customers, these tariffs are set according to the price which has been set by the local governments. Thus it becomes vital for businesses to opt for an advanced solution for their business, which helps them to satisfy all the needs of their prospective customers in the best possible way.

Reduces Paperwork

In the past day, each and everything in the transportation sectors as well as in other business sectors was recorded on paper, tracking all the records with pen and paper was one of the most frustrating tasks and sometimes also caused errors. Digitalization promises better organization and management than that of the paper-based system, hence most of the businesses are going with the solution, they opt for a mobile app solution that helps them to manage and track the record more effectively and also helps to improve customer satisfaction.

Ensures Man Force Management and Training More Effectively

Manforce management and training are some of the most burning challenges that are faced by all the business sectors these days. According to a PWC industry report, around 50% of business entrepreneurs say that the lack of digital training is one of the biggest hurdles which they are facing right now. They also accepted that using the best mobility solution, they can overcome this hurdle in the proper manner.

Ending Note

By opting for technological advancement, businesses can easily automate the entire process of their business, by doing so, they can also enhance the effectiveness of their workers and can also improve their business productivity and ROI. Hence it is advisable for all the businesses to get an excellent app solution for their business, which not only helps them to handle their business in a more effective manner but also ensures the success of your business.

The best way to send money overseas

There’s three main things which will determine what the best way to transfer money is depending on your situation:

How much money you’re sending
What currencies you’re sending from-to
How quickly you need the money to arrive
In most situations where you’re not sending very large sums of money, an online currency transfer specialist is probably the cheapest way to send money overseas.

But it’s also worth checking out your bank for any good offers they have. Often you’ll have to have one of their premium style bank accounts for the fees to be competitive but it’s definitely something you should look at.

If you’re sending really large sums of money you’re probably better of going with a foreign exchange broker. Many have no fees and have better rates than your bank.

Whoever you go with your going to want to make sure you trust them with your money.

If you use any transfer company that holds your money and it goes bust whilst it has your money there’s no guarantee you’ll get it back.

One simple check you can do is to check that the firm is authorised by the country’s financial regulator. This is a good indication that they are financially reliable and responsible.

How should you make mutual fund performance analysis?

You should not solely rely on performance rating by third party websites and mutual fund returns for the last year to assess the best possible mutual fund for you. This is because performance keep changing every year. The top performers of today may not be on the list next year. When making a mutual fund comparison, there are specific performance indicators that you need to look out for. Let’s evaluate them here in detail.

Look at returns beyond 1 year: You need to evaluate the mutual fund performance over 1 year, 3 years, 5 years and 7-year performance. A reasonable yardstick is the mutual fund performance over the last 5 years.
Mutual fund performance comparison against benchmark: You can start by making a mutual fund performance comparison against the benchmark. When you compare, you need to evaluate the period of consistency during different market cycles against the benchmark. This will help you assess whether the mutual fund has outperformed or underperformed the benchmark.
Risk-reward tradeoff: You need to understand how effective is the mutual fund in offering risk-adjusted returns. As per risk-return tradeoff, if you take a higher degree of risk, it should be compensated by a greater level of returns. For instance, small-cap funds more significant downside risk, but it also has the potential for high returns. The risk is measured with the help of specific mutual fund performance indicators such as standard deviation and Sharpe ratio. Standard deviation is how much the mutual fund performance deviates from the benchmark. The greater the standard deviation, greater is the inherent volatility. Sharpe ratio is the return per unit of risk. In other words, it evaluates the risk-adjusted returns. Look for a fund with a higher Sharpe ratio to earn a better risk-adjusted return.
Compare Average Maturity and Duration: While evaluating debt funds, the average maturity and duration of the fund should match your investment duration. The Average maturity relates to the period after which the underlying securities will mature. A short-duration debt fund has lower interest rate sensitivity than longer-duration funds. You can use Macaulay Durations and Modified duration to evaluate the risk of investing in debt funds. Macaulay Duration indicates the time it takes for the price of the underlying bond in the debt fund to be repaid through its internal cash flows. Modified duration indicates how much the NAV of a debt fund would change if interest rates move by 1%.
Compare Fund’s cyclical performance: Evaluate how effective is the fund manager in outperforming the benchmark across different market cycles. A good mutual fund performance indicator is the Alpha. Alpha measures the return over the benchmark index. When making a mutual fund performance comparison, a fund that generates alpha indicates a well managed fund.

You can use the above mentioned mutual fund performance indicators to help you compare two mutual funds and make a decision. It would help if you considered your financial goal and risk profile carefully in this exercise.