What's more?

With in-depth insights into customer behavior and preferences, we built personalized marketing campaigns.

This helped align our sales and marketing teams and identify high-value leads, thus maximizing our revenue marketing efforts.

In short, predictive analytics has proven to be a game-changer for my SaaS firm – Revlitix.

Predictive analytics is an advanced data analysis method that leverages artificial intelligence (AI), machine learning, data science, and analytics software to forecast business outcomes.

In this post, I will share my experience on predictive analytics, revealing how it can be leveraged to drive revenue growth for your startup.

Predictive Analytics to Bolster Your Success

Here's how predictive analytics can help your company thrive.

1: Optimize Your Marketing Campaigns

Through my entrepreneurial journey, I have emphasized on the power of data-driven decision-making. Many of us are often tempted to follow our gut instinct when making key marketing decisions. But that can spell disaster for your business.

On the other hand, the data-driven approach powered by predictive analytics is based on facts. With accurate customer and industry insights, optimizing marketing campaigns will become a breeze. Thus, you can reach, attract, and engage the right audience, thus building a solid revenue base for your startup. Let me share a real-life experience of how it proved revolutionary for my SaaS.

When we launched Revlitix, our key goal was to boost customer engagement by 50% within a quarter.

• Our Data-Driven Approach: We leveraged predictive analytics to analyze historical and current customer data, including their online activities, behavior, demographics, preferences, past and present marketing campaign performances, etc.

These insights helped us understand the most effective marketing channels (email and website) and forecast future outcomes. So, we created strategies around email marketing and website optimization.

• Business Outcome: Our customer engagement increased by 55% within three months, surpassing our predefined goal.

So, whether you are a SaaS startup or operating in a different domain, embrace advanced analytics to drive exceptional marketing outcomes.

2: Maximize Sales Opportunities

The sales team plays a central role in building a loyal community of customers, pivotal for long-term revenue growth. However, aligning your team to be consistent with their sales performance isn't easy.

Several factors, such as ever-evolving customer preferences, limited resources, and inaccurate real-time data, create challenges to achieving sales goals. But predictive analytics simplified and streamlined our sales process.

With predictive analytics, you can gain insights into past and current sales performance and predict future sales trends accurately.

For instance, with customer insights like total past leads, total conversions, website visits, online activities, engagement level, and more, you can gauge high-value leads (most likely to convert). Lead prioritization boosts the chances of conversions. See how Nuvemshop, a B2B eCommerce solution provider, leverages Hubspot's Sales Hub software.

Source

Its valuable customer insights and predictive lead-scoring capabilities helped them boost its customer base by 900% within six months!

Take inspiration from the brand to revolutionize your sales effectiveness.

3: Enhance Visibility for Crucial Data Points

As a startup owner, it's crucial to have clarity on the following:

• Who is visiting the website?
• What content format and type are they interested in?
• How much time do they spend on each page?
• What is the average number of pages they read per day?
• Which social media platforms do they use?

Predictive analytics can help with such questions. With the insights it offers, you can identify gaps and market trends and create targeted campaigns resonating with the ever-evolving audience interests.

4: Safeguard the Startup Against Fraud and Business Risks

Cyber threats, malware attacks, and several serious frauds are becoming prevalent. And we have enough data to prove that it's not limited to enterprises or large corporations. A recent report stated that every one in five cyber intrusions incidents targets startups.

So, you must adopt a holistic approach to safeguard your business from all these criminal activities. Predictive analytics solutions can help you get the most out of your cybersecurity investments.

Notice how Sage, a cloud accounting and financial management solution provider for small and medium businesses, uses analytics. It offers predictive analytics-driven robust fraud detection and cybersecurity software. The advanced analytics capabilities with its security features enable their clients to keep their businesses secured without hassles.

Source

I strongly advise you to deploy tools like Sage to navigate the ruthless digital business landscape hassle-free.

5: Boost Customer Experience (CX)

A seamless customer experience (CX) isn't a nice-to-have feature – it's a given.

CX can determine and redefine your startup's success as it directly impacts a firm's ROI and revenue. Here's what I see.

Identifying customer needs and pain points and investing in personalized campaign creation pays off. But these efforts are incomplete without solid data backing them.

That's where you can count on predictive analytics, especially to –

• Incorporate features and services that your customers need.
• Respond timely to their queries with relevant information.
• Streamline customer onboarding by eliminating bottlenecks.
• Analyze and incorporate customer feedback into your marketing strategy.
• Build dynamic product pricing strategies.

This can help elevate customer experience, fostering high retention rates and loyalty.

That's not all!

Here's a bonus tip: Predictive analytics + prescriptive insights = a synergistic approach to data-driven decision making

Prescriptive analytic solutions offer recommendations or the next-best actions (NBAs) you need to take to achieve your goal. In our early stages, we were looking at innovative ways to acquire new customers. We firmed up a goal of acquiring 20% more customers within two months.

Predictive analytics enabled us to gain in-depth insights into our past and current business performance, customer insights, and market trends. This empowered our SaaS firm to design a clear roadmap to achieve the goal.

The prescriptive mechanism further recommended targeting the UK and Asia via email marketing. We did that, and the results were remarkable! We achieved the goal and gained loyal customers with minimum hassles.

The lesson – leverage advanced analytics methods to strengthen your decision-making.

Summing Up

Intuition-led decisions can negatively impact your startup's outcomes.

Rely on predictive analytics to gain valuable data-driven insights into the target market and customers. Deploy advanced analytics tools to spot untapped business opportunities and make revenue-focused decisions.

I am sure the insights shared by me on predictive analytics will contribute to your startup's growth.

I am keen on learning the advanced analytics techniques you use to guide your business strategies. Let me know about it!

I wish you all the best!

The post How Predictive Analytics Can Turbocharge Your Startup’s Growth appeared first on Datafloq.

One of the most significant changes has been the advancements of new technology in financial products and services that are designed to serve specific functions within the financial sector like Reg-tech, Insurtech, and robo-advising. Before discussing the most important FinTech technologies, we should take a look at the basics of what FinTech is!

What is FinTech?

FinTech certainly means finance and technology that are integrated with the vision of creating innovative solutions for companies. It also supports financial service providers to serve their customers better by utilizing technologies like biometrics, eCommerce, Artificial Intelligence, Blockchain, and more.

FinTech isn't an actual brand name or part of the software. Instead, it's a term used for all technological trends within the financial sector. FinTech applications allow banking to be faster and more intelligent. When implemented together or in their way, they help businesses become more efficient and allow employees to interact with clients or suppliers more efficiently.

Top FinTech Trends in 2023

Payment Innovations

According to Piyush Jain, Founder of Simpalm, a fintech app development company “In FinTech Payment innovations, there are several components, including mobile payments, contactless payment, mobile wallets, AI, and machine learning to improve security and authentication technologies for identification. The payment innovation works very well for fintech businesses that are very secure and transparent. The online transactions that take place through mobile applications for financial institutions and banks are far more advanced and straightforward. Digital payments products like Venmo, Zelle, Stripe, and Plaid have revolutionized the fintech industry.”

Digital-Only Banking

Digital-only banking is now an extremely creative business solution to manage contacts lists and immediate online banking services. Digital-only banks are extremely beneficial, where no one needs to go to the bank in person to fill out the long and tedious paperwork or wait for long periods. This is among the most advanced fintech solutions for banks across the nation. It could be as simple as any point up to opening your bank accounts to pay off your credit card debts which you can manage entirely with the help of online applications offered by your bank. Other advantages include cost management, speedy billing, the ability to pay bills at their homes, instant analytics, and quick balance review.

Artificial Intelligence

Artificial intelligence is among the most recent trends that are taking place in the finance sector, where banks are embracing strategies to solve problems that can quickly improve the whole sector. Several global employers and brands are incorporating artificial intelligence-related applications and software in fintech companies to ensure better performance with improved efficiency, lower costs, and expenditure.

Blockchain Technology

According to Amit Nigam, COO of Bank IT, “Blockchain technology is efficient in making fintech operations and services secure and transparent. It is a big change in the financial system that focuses on decentralized finance and eliminating centralization, allowing it to be easy and secure. Today, fintech technology has prompted a variety of developments in online financial platforms that allow financial transactions to occur in a decentralized manner. It's a distributed ledger technology within blockchain technology, used by financial firms to reduce costs and expenses while increasing the quality of their services.”

Adoption of Robotics in Customer Service

Customer service in fintech firms has improved since the introduction of robotics and chatbots, which are automated. Due to the rise of artificial intelligence and machine learning, chatbots and conversational artificial intelligence aided by robots and chatbots can provide 24/7 customer support throughout the day, all in one click. Voice bots and chatbots that are chatting with customers help banks and fintech firms to provide customer service more efficiently.

Biometric Security Systems

Mobile banking and other digital financial services have gained popularity because they are available at your fingertips. It is not only an impressive accomplishment but also brings up security concerns. As time passes, the cybercrime rate is increasing each day. Thus each FinTech business should implement the necessary security measures in their process. Biometrics security systems are the best way to take security to a higher level. It provides users an assurance that their data is protected.

Conclusion:

The market for financial services is expanding rapidly. The FinTech trends mentioned above have evolved in response to customers' needs. They assist providers in delivering superior financial services that allow greater availability of data, more efficient transaction processing, improved transparency, better support for the customer, and more secure identity verification. The FinTech revolution is getting more powerful. So, if your company wants to compete in the market, gain your customer's trust by listening to their needs and providing a seamless and transparent experience.

The post Innovative Fintech Solutions to Know in 2023 and Beyond appeared first on Datafloq.

This is where website monitoring comes in. It is the process of tracking and testing a website's performance, status, and activity to ensure it is running smoothly and efficiently.

Let's have a glance at its meaning and why website monitoring is essential for business continuity planning!

What is website monitoring?

Website monitoring is the process of monitoring and testing the availability, performance, and functionality of a website.

It involves regularly checking a website to ensure it is accessible and functioning as expected and detecting any issues that may arise, such as slow loading times, errors, or downtime.

Website monitoring is important for ensuring a positive user experience and minimizing any negative impact on a business or organization's reputation, revenue, or customer satisfaction.

As per the findings of a study conducted in 2022, more than 60% of outages incur costs exceeding $100,000, which is higher compared to 39% in 2019. The study also revealed that about 15% of outages cost over $1 million, showing an increase from 11% in 2019.

Here are some general advantages of website monitoring:

• Website monitoring enables businesses to detect and address issues before they become major problems, helping prevent significant losses.
• It helps businesses maintain a positive reputation with their customers by ensuring that their website is available and functioning correctly.
• Website monitoring provides businesses with insights into website traffic patterns and user behavior, enabling them to make data-driven decisions and improvements to their website.

What is BCP (Business continuity plan)?

Business continuity planning (BCP) is the process of creating a plan to ensure that critical business functions can continue to operate in the event of a disruption or disaster.

BCP is designed to identify potential risks and threats to a business, assess the impact of those risks, and develop strategies to minimize the impact and recover quickly in the event of an incident. The goal of BCP is to maintain business operations and minimize the financial, reputational, and operational impacts of an interruption.

According to the US Department of Home Security, here is a good template for establishing a BCP.

What does a business continuity plan typically include?

A business continuity plan typically includes the following components:

Business impact analysis (BIA):

The BIA identifies critical business functions and the potential impact of disruptions to those functions.

Risk assessment:

The risk assessment identifies potential risks and threats to the business, such as natural disasters, cyberattacks, or supply chain disruptions.

Response procedures:

The response procedures outline the steps to take in the event of a disruption, such as activating emergency procedures, notifying key stakeholders, and implementing backup systems.

Recovery strategies:

The recovery strategies identify the steps necessary to restore critical business functions and minimize the impact of the disruption.

Communication plan:

The communication plan outlines how stakeholders will be informed of the disruption and its impact, and how ongoing communication will be maintained.

Training and testing:

Training and testing ensure that staff are prepared to respond to disruption and that the plan remains effective and up-to-date.

Maintenance and review:

Maintenance and review ensure that the plan remains relevant and effective as the business environment changes and that it is regularly tested and updated to reflect new risks and threats.

Website monitoring for business continuity planning

Here are some of the benefits of website monitoring for business continuity planning:

IP address monitoring

helps businesses identify any suspicious activity on their website, such as a hacker attempting to access it. Additionally, it can help identify any issues with the website's hosting provider.

Website performance monitoring

enables businesses to identify any issues that may be causing slow loading times or other performance issues. This information can be used to make improvements to the website's infrastructure or design, which can ultimately lead to a better user experience.

Website status monitoring

involves tracking a website's availability, uptime, and downtime. By monitoring a website's status, businesses can identify any issues that may be causing downtime, such as server issues or network outages.

Real-time website monitoring

allows businesses to identify and address any issues as they arise, ensuring that the website remains available and functioning correctly.

SSL certificate monitoring

ensures that the website remains secure and compliant with industry standards. It identifies any issues with SSL certificates, such as expiration or revocation.

Monitor Website Performance for BCP with Awakish!

Awakish offers a plethora of benefits for SME, looking to scale theur business to newer heights! We are your ultimate website monitoring partner.

Here are some of the benefits for your business when you work with us:

Improved website uptime:

Awakish provides 24/7 website monitoring to detect and alert businesses of any website downtime or performance issues, allowing them to take quick action to resolve the issue and minimize downtime.

Proactive issue detection:

Awakish's monitoring system can detect potential issues before they become critical problems, allowing businesses to take proactive steps to prevent any downtime or performance issues.

Comprehensive reporting:

Awakish offers detailed reporting, including uptime and response time reports, to help businesses identify performance trends and areas for improvement.

User experience monitoring:

Awakish monitors website performance from a user's perspective, enabling businesses to identify any issues that may impact the user experience, such as slow page load times or broken links.

Security monitoring:

Awakish offers security monitoring, including SSL certificate monitoring and malware detection, to help businesses protect their website and customer data.

Monitor IP address activity, and track SSL certificate expiry along with staying on top of downtime, ports and JSON monitoring for endpoints. Get in touch to know more!

The post Advantages of Website Monitoring for Business Continuity Planning appeared first on Datafloq.

Stock trading- what is it, and how it works?

Stock trading is driven by the Stock market. According to Kar Tretina, a contributor at Forbes,” The stock market is a constellation of exchanges where securities like stocks and bonds are bought and sold”. Companies list their stocks in the stock market, which is visible to the stock traders who buy the stocks.

Companies raise their stocks in the stock markets. Stocks are a small part of a company that is sold to investors. Investors invest in the company and buy stocks. The valuation of a company increases when it attracts more investors, which in terms, transforms into profit. Then the same profit is distributed to the investors.

Hence, investors earn through stock trading. Below are the benefits of stock trading for investors:

• Earning profits when stock prices fluctuate
• Generates a regular income for investors
• Uplifts companies toward growth

The Scope- Is stock trading app development a sustainable idea?

The scope of the stock trading mobile app is sustainable. Future market insights published some of the incredible growth factors with respect to the growth of stock trading mobile apps:

Stock trading app market to grow at a CAGR rate of 20.8% by 2023. Both the platforms, iOS and Android, will register this growth.

Similarly, the business of apps published key stock trading statistics helping entrepreneurs to determine the scope of stock trading mobile app development.

• Robinhood, a stock trading app, registered $10 Billion in revenue in 2022.
• 137 million users were active on stock trading apps in 2021.

Stock trading app ideas driving business opportunities

We have seen how the Stock trading app idea is sustainable and can drive robust growth and revenue for you. In order to supplement it, here are the top business opportunities related to stock trading mobile app development:

• Stock advisor app
• Stock trading news app
• Trade learning app
• Stock exchange monitor app

You definitely have a pool of stock trading mobile app ideas driving business opportunities to you.

The complete step-by-step process to build a stock trading app

So that you are clear about the scope and opportunities related to the stock trading app. It is now time to learn the step-by-step Process for building a stock trading app.

Consult your idea with the management teams

The first step to building your stock trading app begins by consulting your project idea with management teams. These teams should be from the IT department for better clarity of your project idea. You can hire project managers and a team of business analysts to prepare blueprints of your stock trading app idea. Or you can also hire a stock trading mobile app development company that has the team in-house so you can focus on more important tasks.

Further, you should build a minimum viable product for exceptional stock trading mobile app. This will help you to:

• Conduct market research to gain insights
• Arrange what customers want with your idea
• Prioritize the features that customers want

Lay down the scope of your project in terms of Platform

What Platform do you want to target on which you will build your stock trading mobile app? You can clear it in advance. There are multiple options available from which you can decide:

• A web app for your stock trading app idea
• Android app
• iOS application

If you want to target all three mentioned above, you must opt for Cross-platform app development frameworks. This will deliver you the flexibility to run your app on multiple platforms keeping the resources and timeframes minimal.

Build the right development approach

• Embed Platform as a service to fasten your development process
• Make use of robust 3rd party APIs instead of building from scratch
• Build a native mobile app if you want to ensure a high level of stability; however, you can also hire a top cross-platform app development company to target multiple platforms
• Focus on testing parallel to your stock trading app development process

Determine the security of your app

When it comes to finance-related activities, whether with a stock trading app or banking, security is an essential part

You have to take key security measures to build a secure app. Also, stock trading is governed by strict regulations

Ensure the following security parameters:

• Strictly monitor and mitigate risks like XML external entities and cross-site scripting.
• Embed cloud computing with the right analysis and choose your cloud provider wisely.
• Ensure modern techniques like next-generation firewalls and more.
  Secure your APIs.
• Use intelligent solutions (AI) to identify possible cyber security threats.

Know the resources to be deployed on your stock trading app development project

In case you do not know about the resources required for your project, here is the list of people who will work on your project after business analysts:

• UI/UX designers' team
• Android developers (Kotlin and Java)
• iOS developers (Swift and Objective C#)
• Cross-platform developers, in the case (Flutter and React Native)
• Quality assurance team
• DevOps engineers

All the teams would be led by their respective team leaders and project manager.

Features you must embed in your Stock trading app

A good stock trading application covers multiple aspects known as features and functionalities. If you are targeting to build a stock app development, you must ensure the following features:

Multiple authentication options

43% of the users abandon the app due to frustration with digital identity authentication. Make sure that you offer multiple authentication options to your users, be it fingerprint or face ID.

Further, also ensure that your app has an easy and fast signing or login process.

Build a solution that users can access from anywhere

Users prefer apps providing them with a seamless and flexible user experience. They want to pick up their tasks from where they left off on their other devices, be it a laptop, tablet, or phone.

Build a solution that users can access from anywhere. Your trading app shall have a web version that works as an extension of your app. In case a user doesn't have an app, they can flawlessly access your stock trading app.

Do not forget the newsfeed feature to keep users engaged

Instagram attracted 200 million users reaching from 1 billion users to 1.21 billion users in just a few months. It was because of the feature of reels.

When you keep your users engaged on your Platform, the screen time of your app increases. It also builds a strong brand image where users become a part of your app.

Build a tab for a news feed where all the news from top stock companies and analysis of the proper stock market is bundled. This will engage users on your app for a longer duration. When you embed multiple features in one app, you head towards building a super app. A one-stop destination for multiple activities.

Push notifications to update users

Push notifications can boost user retention by 190%. Deliver real-time notifications to the users, whether it is about a price drop in stocks or a bad day in the stock exchange market. Keep communicating with your customers through your app. Also, ensure that you do not overdo the notifications part. A frustrated user will straight uninstall your app.

Multiple payment options

Definitely, payment would be an integral part of your app. You do not want your customer to leave your app for payment. In such cases, you have to provide multiple payment gateways to the users. Be it digital wallets, UPI apps, or international apps like Paypal. Provide your users will a large stack of payment modes so they choose the best one according to their convenience.

Best Tech-stack for building stock trading application

Although there are ample tech stacks available for you to build your stock trading app, the below tech stack is used by top mobile app development companies globally.

For the Android platform, you can use

Programming languages: Kotlin, Java

Database: MongoDB, MySQL, NoSQL

For the iOS Platform, you can use

• Programming language: Swift, Objective C#
• Database: MySQL, NoSQL, MongoDB

For Cross Platform you can use

• Frameworks: Flutter, Angular, React
• Languages: Dart, JavaScript
• Database: MongoDB, MySQL, NoSQL

Popular Challenges in Stock trading app development

You may encounter the following challenges while building a stock trading app:

• Ensuring security and reliability
• Integration with financial platforms
• Staying up to date with market trends
• Compliance with financial regulations

Top-grossing stock trading apps for your reference

You can refer to the below top-grossing stock trading apps. We have provided the link to the play store platform in case you want to perform a competitive analysis.

Robinhood

Robinhood is a well-known app and one of the most popular in the stock trading industry. The app has a 4-star rating with 10 million plus downloads.

Cash App

The cash app is an easy way to spend, save, invest, and transfer money. It has 2.27 million reviews with a 4.6-star rating.

eToro

eToro is a popular investing app offering investment options to users at 0% commission. The app has a 4.0-star rating with 129k overall reviews.

Revolut

Revolut lets users manage their budget and get started with investment. 25 million + customers are already using the app.

What is the ideal cost of building a stock trading application?

Although the cost factor is something that varies from company to company. It also varies over the region from where you hire the stock trading app developers. For example, the stock trading app development cost in India will be budget friendly as compared to building the app with USA-based developers.

We cannot suggest a fixed cost for stock trading app development, yet a typical stock trading app might cost you from $30,000 to $100,000 to build. The cost factor highly depends upon the complexities, features, and functionalities you want in your app.

Why choose RipenApps as your stock trading app development partner?

We have aided the Finance industry with top-notch solutions in terms of digital transformation. Our cutting-edge fintech solutions involve:

• Seamless Payment gateway integration
• Secure digital wallet architect
• Fraud prevention mechanism
• High-quality investment solutions with robust AI

We have a certified team of experts who have built and deployed top-notch stock trading apps. Our full application development cycle ensures everything from start to bottom for your requirements. And we adhere to our business values with the following as a priority:

• Budget-friendly app development
• Transparent communication
• Meeting deadlines
• 100% satisfaction to the client

FAQs

Q1. What is the Scope of Stock trading app development?

The scope of the stock trading app development idea is sustainable. Top-grossing stock trading applications have been driving revenue in millions. Hence, the idea of building the stock trading app will be fruitful for you bringing ample success opportunities.

Q2. What is the process of building a stock trading application?

• Idea consultation
• Determining the scope of the project
• Build development approach
• Determine the security

Q3. What are the best Features to add to the stock trading app?

• Multiple authentication options
• Build cross-platform solutions
• News feed feature
• Push notification service
• Multiple payment options

Q4. Which is the right Tech stack for stock trading app development?

• Framework: Flutter, React Native
• Programming language: Dart, JavaScript
• Database: MongoDB, MySQL

Q5. What is the Cost of building a stock trading app?

The cost of building a stock trading app varies by the complexities, features, and functionalities. However, for a rough idea, stock trading app development can cost you from $30,000 to $100,000. Yet, there cannot be a fixed number.

The post How To Build a Leading Stock Trading Mobile App Platform? Complete Process with Tech Stack & Cost appeared first on Datafloq.

From tackling food waste to supply chain management, these companies are making a difference in their respective industries. In this article, we will take a closer look at five women-owned tech companies worth watching. We will explore the unique ways in which each company is using technology to address critical issues and make a positive impact on society.

By shining a spotlight on these companies, we hope to inspire others and demonstrate the power of technology to effect change.

1. Goodr: Food Waste Redefined

Goodr is a women-owned tech company that is revolutionizing the way we think about food waste and hunger. The company was founded by Jasmine Crowe, an award-winning entrepreneur, TED Speaker, and leader who is passionate about making the world a better place. Jasmine recognized that hunger is not a scarcity issue, but rather a logistics problem. By creating a solution that focuses on reducing waste and feeding more people, Goodr has become a leader in the fight against hunger.

Food insecurity is a pervasive problem in America. According to Feeding America, over 42 million Americans, including 13 million children, live in households that are food insecure. This means that they lack access to enough food to maintain an active and healthy lifestyle. At the same time, it is estimated that up to 40% of the food produced in the United States goes to waste. Goodr has tackled this problem by developing a logistics platform that connects food businesses with surplus food to non-profits that serve people in need.

Goodr's platform uses blockchain technology to track food donations and ensure that food is distributed efficiently and effectively. This innovative approach has led to remarkable results. Goodr has diverted over 3.5 million pounds of food from landfills and provided over 4 million meals to people experiencing food insecurity. Their work has been recognized with numerous awards, including the 2018 Google Demo Day winner and the 2019 United Nations Global Goalkeeper award.

Jasmine Crowe's leadership and vision have been instrumental in Goodr's success. Her passion for social entrepreneurship and her commitment to creating change has inspired others to get involved in the fight against hunger. Through Goodr, Jasmine has created a platform that is not only addressing food waste and food insecurity but is also raising awareness about these critical issues. Goodr is a company that is definitely worth watching, as it continues to grow and make a positive impact on our society.

2. Planet FWD: Reducing Company Carbon Footprints

Planet FWD is a women-owned tech company that is dedicated to helping other companies manage their carbon footprints and energy usage to create a more sustainable world. The company's mission is to empower the next generation of consumer products by making it easier for brands to improve their environmental impact and support a healthy planet. Planet FWD achieves this through its innovative software, which leverages technology to deliver actionable insights and help brands amplify their positive impact.

Energy waste is a major problem in America, with up to 61% of the energy used in the United States being wasted, according to the Department of Energy. This waste not only contributes to greenhouse gas emissions but also increases energy costs for businesses and consumers. By helping companies manage their energy usage and reduce waste, Planet FWD is playing a critical role in mitigating the effects of climate change.

Julia Collins, the founder of Planet FWD, is a serial entrepreneur who has a passion for sustainability and technology. Prior to founding Planet FWD, Julia co-founded Zume Pizza, a company that uses robots to make pizza and reduce food waste. Julia's experience in the tech industry and her commitment to sustainability have made her a leading voice in the fight against climate change. In 2019, Julia was named one of Fast Company's 100 Most Creative People in Business.

The team behind Planet FWD is made up of sustainability experts who are dedicated to making a positive impact on the planet. The company's software is designed to help brands build truly sustainable products by providing them with the insights and tools they need to reduce their environmental footprint. Through its innovative approach, Planet FWD is helping to create a more sustainable future for all of us.

3. Maro: Managing the Difficult-to-Discuss With Ease

Maro is a women-owned tech company that is dedicated to helping parents navigate tough conversations with their children. The company's mission is to create a world where children and parents feel comfortable talking about sensitive topics, such as sex education, mental health, and social justice. Maro achieves this by providing parents with expert advice, resources, and tools to facilitate these conversations.

Effective communication between parents and children is critical for healthy child development, yet many parents struggle to have these tough conversations. According to a survey conducted by the American Psychological Association, only 28% of parents feel comfortable discussing mental health with their children. Additionally, a study by Common Sense Media found that only 42% of parents feel comfortable discussing sex education with their children. These statistics highlight the need for tools and resources like Maro to help parents navigate these challenging conversations.

Lilly Mittenthal and Kenzie Butera Davis are the co-founders of Maro. Lilly is a former teacher who has experience working with children and adolescents in various settings. Kenzie is a former product manager at Google who has a passion for using technology to solve real-world problems. Together, they bring a unique set of skills and experiences to Maro.

The team behind Maro is made up of child development experts, educators, and technologists who are committed to creating a better future for children and families. The company's platform provides parents with personalized advice and resources tailored to their child's age, development, and needs. Maro's approach is not only helping parents have tough conversations but also helping to create a more open and accepting society.

4. Stimulus: Supply Chain Management Simplified

Stimulus is a women-owned tech company that offers a software platform for supply chain management and diversification. The platform provides companies with data insights and relationship-building tools to make the best purchasing decisions while optimizing and growing their supplier network. According to a report by Accenture, 94% of Fortune 1000 companies experienced supply chain disruptions due to the pandemic. This highlights the importance of having a robust and diversified supply chain, which is where Stimulus comes in.

Stimulus helps companies choose the right suppliers and fulfill their business objectives by utilizing location-based and diversity criteria to easily compare suppliers. The platform leverages data from internal and external sources to increase visibility, enhance decision-making, and promote communication of supplier utilization. This allows teams to avoid risks and lower costs by identifying opportunities and disruptions across the supply chain in real time.

The founder of Stimulus is Tiffanie Stanard, a seasoned entrepreneur with over 15 years of experience in the tech industry. Stanard is passionate about using technology to solve complex business problems, and she founded Stimulus to help companies overcome supply chain challenges. The team behind Stimulus is made up of experienced professionals in the tech industry, with a strong focus on diversity and inclusion.

Stimulus is a diverse and empowering tech company that is making a difference in the world of supply chain management. With its innovative platform and data-driven approach, the company is helping businesses to optimize their supplier network and reduce risks. Stimulus is definitely a company to watch in the coming years-especially considering their new internship program, Supply and Demand webinar series, and partnerships with Microsoft and Salesforce.

5. Mighty Networks: Networking With Heart

Mighty Networks is a women-owned tech company that is changing the way people network and communicate. The platform provides brands with customized websites, online courses, and sub-groups, allowing them to create a personalized online community. According to a study by Pew Research Center, 72% of adults use social media, with Facebook being the most popular platform. However, many people are increasingly concerned about privacy and security on these platforms, which is where Mighty Networks comes in.

Mighty Networks is a powerful alternative to traditional social media platforms, providing users with a more private and personalized online community. The platform is designed to foster engagement and collaboration, creating a sense of belonging for users. With Mighty Networks, brands can build a community around their products or services, which can lead to increased brand loyalty and sales.

Gina Bianchini is the founder and CEO of Mighty Networks, and she has a track record of success in the tech industry. Prior to Mighty Networks, she co-founded Ning, another custom content creation platform that attracted 100 million users within its first three years. Bianchini's experience in the tech industry has helped her to build a platform that is both innovative and user-friendly.

The team behind Mighty Networks is made up of experienced professionals in the tech industry, with a strong focus on diversity and inclusion. The company's mission is to empower brands to create meaningful communities that make a positive impact on people's lives. With its innovative approach to networking and communication, Mighty Networks is a women-owned tech company worth watching.

In conclusion, these five women-owned tech companies are making a significant impact in their respective industries by leveraging technology to solve some of the world's most pressing issues. From reducing food waste to empowering sustainable brands, navigating tough conversations, and promoting supply chain diversification, these companies are paving the way for a more sustainable, equitable, and connected future.

By focusing on innovation and social responsibility, these companies demonstrate that technology can be a powerful force for good in the world. As we continue to face unprecedented challenges, it is inspiring to see these women-owned tech companies leading the way toward a brighter future. We can only hope that more women-led companies will emerge in the tech industry and continue to drive meaningful change.

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In today's fast-paced digital age, businesses are constantly looking for ways to stay ahead of the competition and stay relevant in an ever-changing marketplace. One of the key ways to achieve this is through workforce development.

A business' future success depends heavily on its ability to develop and retain a skilled and adaptable workforce.

Workforce development refers to the process of investing in the skills and knowledge of employees in order to improve their performance and productivity, and ultimately, the success of the company. This can include training programs, professional development opportunities and mentoring programs. It is essential for businesses to invest in their employees if they want to stay competitive in today's digital landscape.

According to an estimate made by World Economic Forum, there may be a displacement of 85 million jobs by 2025 due to the changes in the division of labor between humans and machines.

Today, we will examine the implications of these developments for the next generation of workers and explore how preparing for them early can benefit your business.

The Impact of Technology on Workforce Development

Technology is rapidly changing the way we work, and it is having a significant impact on workforce development. The use of technology has led to an increase in productivity, efficiency and collaboration, but it has also led to a shift in the types of skills that are in demand.

One of the most significant impacts of this on workforce development is the increasing demand for digital skills. As advanced technologies become more integrated into our daily lives and workplaces, there is a growing need for individuals with skills in areas such as data analysis, computer programming and digital marketing.

Technology is also changing the way we work, leading to more flexible and remote working arrangements. This has led to an increase in the number of individuals who are self-employed or working as freelancers. However, it is also having a negative impact on workforce development.

The increasing automation of jobs is leading to job displacement, particularly in industries such as manufacturing and transportation. According to a report by the McKinsey Global Institute, 400 million to 800 million jobs could be displaced by automation by 2030.

Workforce development is being significantly impacted by technology, increasing the demand for digital skills and other independent abilities, such as critical thinking, creativity and problem-solving.

Challenges of workforce development in the digital age

As more and more companies adopt digital technologies, the skills and qualifications required for jobs are changing rapidly, making it difficult for workers to stay current and competitive.

One of the main challenges of workforce development currently is the need for constant upskilling. With new technologies and software emerging every day, workers need to continuously update their skills to remain relevant in the job market (Also Read: Into the Future: The Outlook for Tech Careers).

This can be a daunting task for workers who may not have access to necessary resources to pursue training and education. Many workers may not have the time or flexibility to take on additional training while balancing their work and personal commitments.

Another challenge is the lack of computer literacy in the workforce. Many workers may not have the basic digital skills required to perform their jobs effectively. This can lead to a lack of productivity, increased errors and a lack of competitiveness in the job market.

The digital age has also led to increased competition for jobs, as the internet and automation have made it possible for companies to outsource tasks and hire workers from anywhere in the world. This has led to increased job displacement and uncertainty for workers, making it more difficult for them to find and retain employment.

The digital era has brought an increase in the prevalence of the ‘gig economy,' in which workers are hired for specific projects rather than permanent positions. This can create a sense of instability and insecurity among workers as they do not have the same level of job security and benefits as those in traditional employment.

It is important for companies and policymakers to take into account these challenges and invest in initiatives to support and equip workers with the necessary skills and qualifications to succeed. Successful workers leads to a successful company.

Business Strategies for Workforce Development

One of the most effective ways to develop a skilled workforce is through training and education programs. These programs can be used to improve the skills of existing employees or to train new employees. By improving the skills and knowledge of their workforce, businesses can expect increased productivity and efficiency.

Creating a positive work environment can also play a critical role in workforce development. A positive work environment can reduce employee turnover and improve employee morale. The longer an employ sticks around, the more pertinent skills and experience they will gain, negating the need to hire and train new workers. This can be achieved by providing employees with a sense of purpose, recognition for their work and opportunities for growth and development.

Also, encouraging employee engagement is another effective strategy for workforce development. By encouraging employee engagement, businesses can create a culture of continuous learning and improvement. Regular employee feedback, open communication, opportunities for employee input and group participation are good places to start (Also Read: How are talent demands changing after the ‘Great Resignation'?).

By investing in employees, businesses can develop a skilled and motivated workforce able to adapt and stay ahead of the curve on emerging technologies and market trends.

Conclusion

Workforce development is crucial for the success of businesses in the digital age. A well-trained and adaptable workforce can drive innovation, increase productivity, boost efficiency and ultimately lead to improved bottom-line results for the business.

Motivated, happy and skilled employees are better for everyone and will only serve to further company goals. As the digital age continues to evolve, it is important for companies to prioritize workforce development and help their employees build the necessary skills that will allow all parties to succeed.

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There are many areas of a business that can be aided with the right technology, and different forms of advancements in recent years have been strong enough to single-handedly drive scaling operations in certain areas.

At the core of emerging technology is the pursuit of making startup processes more straightforward, while another is to make the lives of employees easier. With many menial responsibilities being taken care of in a quick and efficient manner, the startups that embrace technology can reap the benefits ahead of their competitors. With this in mind, let's take a look at which emerging tech is driving the scaling process for startups:

Accommodating Artificial Intelligence

Artificial intelligence is transforming the world of business and consumer markets, and is already relied upon heavily throughout our daily lives. The influence of AI has been felt across virtually every industry, and it's unimaginable for an ambitious company to ignore the potential of machine learning as a tool for growth.

Applications of AI can involve matters of machine learning, analyzing large volumes of data for intelligent insights, cybersecurity, CRM, and calculating financial performance far into the future.

For customer-facing businesses, artificial intelligence can be used to track buyers and assess their levels of intent through studying search patterns, browsing habits, and various other metrics.

Artificial intelligence can be a key component of the scaling process because it helps small businesses with little margin for error to make intelligent decisions when it comes to their strategies for growth. Without AI, business decisions can be taken without sufficient research and analysis and can be at greater risk of being misguided.

Accelerated Connectivity with 5G

The arrival of 5G connectivity will also play a significant role in improving business operations. With data transfer speeds estimated to be around ten times faster with 5G, it's possible for high definition files to be downloaded at speeds of up to 10 Gb per second.

This, along with lower latency working as a force for maintaining more consistent uptime and fewer delays in the sending and receiving of data.

Startups in creative industries, such as the media sector will benefit significantly from these advancements, with greater speeds also supporting more IoT functionality to improve an even greater range of enterprises.

5G has the power to supercharge a broad range of core processes for businesses, and with 5G-ready devices already entering the market at competitive rates, we're likely to see the entry costs associated with this technology fall away over time.

With this in mind, investing in a 5G infrastructure can be of great benefit to startups that are capable of ramping up their network accordingly, and those that possess the agility to modernize their processes can reap the rewards ahead of their rivals.

Embracing the Rise of Big Data

Adopting artificial intelligence won't be capable of propelling your startup to superstardom without a sufficient level of data and analytics to help generate cutting edge insights.

With so much information widely available online, big data analytics can really help small businesses to access cutting edge insights from which they can build their endeavor.

For businesses that are required to monitor changing market conditions and consumer sentiment, utilizing analytics and exploring the big data produced for social listening tools to better plot their next moves can be a significant asset when the margin for error can be wide enough to become costly.

Letting Virtual Assistants Pick up the Slack

Virtual assistants can be excellent assets for businesses that are seeking to scale whilst maintaining a human touch to their customer-facing operations. Available via a wide range of freelance sites, virtual assistants can be an affordable extra pair of hands that can take on time-intensive tasks from a remote location to help business leaders to save time in scaling up operations.

There's little doubt that technology holds the key to growing businesses and taking startups to the next level in a cost-effective and well-researched way. Whether you're a CEO or decision maker within your business, it's worth looking into embracing these technologies sooner in order to outmaneuver your rivals and to form stronger relationships with your customers or clients.

If you feel that it's time to renew your strategy, look at how these technologies can help to take your startup to the next level. Through artificial intelligence, analytics, greater connectivity, and taking on remote talent, you can ensure that you'll be visible to your customers and capable of growing in a more sustainable way.

The post How Emerging Technology is Helping Startups to Scale More Efficiently appeared first on Datafloq.

The tech industry has a responsibility to use technology for good and create products that are used responsibly. Tech startups have an advantage over traditional businesses due to their ability to adapt quickly to market trends, low overheads, and understanding of the latest technology. Building a responsible tech startup can be challenging, but startups can make a difference by connecting with existing organizations that are already doing good and using their skills, communication, and organizational abilities.

Social responsibility should not be confused with business ethics, and Corporate Social Responsibility (CSR) is used in various ways. Startups should not try to change the world on their own, but instead facilitate and support existing organizations.

Technology can play a role in solving social problems by supporting the efforts of government agencies and non-profit organizations. Tech companies can aid government agencies by providing the infrastructure and agility needed to adapt to the digital age. Tech platforms can also have a profound impact on individual philanthropic activities, like GoFundMe, which has transformed charitable giving.

The tech industry must be aware of its full range of impact and ensure that human values lead technology, not the other way around. In startups, it is important to define a clear vision and values at the outset, and ensure alignment throughout the company. The CEO/Founder should have a vision for the company, who they want to serve, and what problem they want to solve. Like Apple's environmental sustainability initiatives, the values and mission should be reflected in the product or service.

Building a responsible tech startup requires a unique approach due to the fast-paced and competitive nature of the tech industry. Key considerations include ethical behavior, digital ethics, privacy and data security, and social impact. Companies should embed ethical thinking and strong values from the beginning of product development and company culture, rather than trying to reverse engineer ethical thinking later.

Digital ethics covers a wide range of topics, including privacy and data security, and should be a focus for tech startups. Social impact should be considered in relation to people's way of life, communities, political systems, health and well-being, and personal and property rights. Startups should conduct an environmental and/or social impact assessment to analyze, monitor, and manage the intended and unintended consequences of their plans and policies.

Digital technology has had a profound impact on society, particularly in the social economy, where it has created new platforms and tools that change how we think about living, learning and working. Almost 90% of social enterprises have embraced digital innovation to improve operations and productivity. Digital tools have also been used to help individuals in social enterprises gain skills such as financial literacy and business planning. Deep technology can make a significant social impact by addressing unsolvable issues, but it requires a lot of capital to develop and scale. Building long-term corporate partnerships with deep-tech startups can help address these challenges.

Building a diverse and inclusive culture in a startup team is important for attracting and retaining top talent, improving employee morale, and meeting the needs of customers. It involves having a clear understanding of diversity and inclusion, establishing a culture of diversity and inclusion from the beginning, following through on words with inclusive hiring practices, and creating an environment where everyone feels comfortable expressing themselves.

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As a startup or emerging business, you have a lot on your plate. You're trying to build the right product, grow your user base, and keep your existing customers happy. You've got a lot of moving parts that all need attention at once-but few are as important as acquiring and retaining customers. As Sam Altman, one of the founders of YC said, “Growth solves (nearly) all problems.”

Customer acquisition is a key challenge for all companies, but startups face unique challenges.

Startup marketing is a very different beast than marketing for more established businesses. The difference lies in the fact that startups are trying to get their first customers by making a business proposal, and have little data on which to rely on. This means they're forced to test different ideas quickly, learn from what works and what doesn't work-and ultimately find success by trial-and-error.

The challenge of customer acquisition is exacerbated by the fact that startups are often operating with limited resources at their disposal. As such, it's important for these companies to utilise every tactic available in order to reach a wider audience; this includes using performance marketing as part of their overall strategy for growth and revenue generation. Once a startup has obtained sufficient customer data it can also use this data to help forecast demonstrate potential future revenue when applying for funding.

What is performance marketing?

Performance marketing is a way of measuring the effectiveness of your marketing and advertising. It's a way of measuring the ROI (return on investment) and ROAS (return on ad spend) of your marketing campaigns. This can help you to understand how well your marketing is working, and how to improve it.

Performance marketing Vs. Growth marketing

While performance marketing is driven by return on ad spend, growth marketing is a full-funnel approach to marketing. Performance focuses solely on online marketing efforts and any payment made for it is based on the success of a predetermined action. Whereas, growth marketing includes various methods of building awareness and converting users into loyal customers. In other words, performance marketing is best for the bottom of the marketing funnel and while growth marketing includes performance it also covers all stages of the funnel to accelerate business growth.

Why is data & analytics so important for performance marketing?

With the right data & analytics in place, you can make smarter decisions about your startup's performance marketing efforts. You'll be able to:

• Drive better customer acquisition by knowing what keywords and audiences are driving traffic and conversions for your business.
• Prioritise your efforts by understanding which marketing channels are generating revenue, and where there's room for improvement.
• Predict ROI (Return on Investment) and ROAS (Return On Ad Spend) based on your past performance.

How do you choose the channels that are right for you?

In order to effectively choose the channels that are right for your business, it's important to understand what types of channels will work best for your brand. While there are no hard and fast rules when it comes to choosing which channels are right for you, one of the best ways to approach this is through data-driven decision making.

Making informed decisions based on data can be tricky when you're trying to figure out what channel mix is ideal for your business goals. Your customers' behaviours and preferences may change drastically over time; therefore, it's important that these factors are always taken into account when putting together a marketing strategy. Create tailored content that resonates with your audience's needs and expectations.

It's also important to consider the resources available to you and your company, as well as the goals of your marketing efforts. For example, if you're a small business with limited capital, it may not be feasible for you to invest in multiple channels at once. One solution is to create a channel mix based on what makes sense for your brand and budget.

How do you track and report performance marketing?

There are a number of ways to track and report on performance marketing. You should look for:

• A/B testing different creatives and copy combinations based on results from previous campaigns.
• The overall ROI of your current performance marketing campaign (or campaigns). This can be measured in terms of sales, leads or sign-ups.
• Conversion rates for different landing pages and offers. You may want to set up several different tracking codes so you can see what content works best with this audience.

Each company will have its own unique customer journey so it is important to monitor the different stages of that journey and how each stage is performing. This will help you identify areas where there is a drop off so action can be taken and avoid any performance marketing challenges.

Where does performance marketing fit into the overall customer acquisition funnel?

It's part of the customer acquisition funnel, which means that performance marketing should be used to find out what people are interested in and what they're looking for. The whole point of performance marketing is to learn about your audience using data so that you can better cater to them and understand what they want.

Data sits at the centre of any performance marketing strategy, which makes understanding this data extremely important. That is where analytics come in.

Data analytics can help you make smarter decisions about your startup's performance marketing efforts.

Data analysis can help you make smarter decisions about your startup's performance marketing efforts. This includes:

• Understanding your customer acquisition funnel.
• Understanding the lifetime value of each customer and how much they are worth on average.
• Understanding the lifetime value per channel.
• Understanding the lifetime value per channel per marketing campaign, which will help you determine where to allocate more resources in order to maximise revenue from advertising across different channels (such as Facebook Ads, Google Ads, etc.).

Conclusion

As the world becomes increasingly digital, we are all becoming more data-driven. This is especially true in business. When it comes to marketing, the most successful companies will be those who use data to inform their decision-making process and optimise their customer acquisition efforts.

In fact, the companies that are most successful at marketing are those who understand the value of data. They use this to inform their decision-making process, optimise their customer acquisition efforts, and ultimately increase revenue.

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This will be a long and winding road regardless of the technologies you choose to invest in, but choosing the right tech will help you along the way. In fact, if you want to be among the 40% of startups that actually make a profit, you need the right technologies at your side.

With that in mind, here are some important technologies you should invest in early to grow and scale your tech startup.

Knowledge mining

As artificial intelligence becomes more prevalent across the tech sector and more startups continue to implement it at every level of their operation, knowledge mining will become an essential process. Knowledge mining is the process of using AI-driven tools and services to empower machines to acquire knowledge rapidly by examining and analyzing vast amounts of information.

This is not about big data analysis, we'll get to that in a moment. This is about empowering internal systems to become smarter in order to facilitate automation, better workflow, and data-driven decision-making. It's also about leveraging smart machines to make better use of your SaaS capital and allocate financial resources to those processes that require human attention.

The AI-driven technologies that will help in achieving better knowledge mining include natural language processing (NLP), text analytics and image recognition.

Data collection and analysis with AI

Big data analysis has been one of the primary driving forces behind startup success in recent years, but that should come as no surprise. With so much consumer, market, socio-economic, competitor, and behavioral data flowing around the web, startups are struggling to fund manual data analysis on such a grand scale.

But with the help of artificial intelligence and machine learning systems, big data analysis becomes a more cost-effective reality. As a tech startup, one of the essential investments you need to make is to empower your teams with AI-driven data analytics tools.

The AI can filter through vast amounts of data to generate meaningful reports and insights, but it will be the machine learning subsystem that will make the AI smarter over time. In turn, this will ensure that the AI tool generates more relevant results and even better insights that are truly relevant to your company, industry, and niche.

With that information, you can make smarter strategic decisions and minimize your financial investments for every department.

Workflow automation and collaboration tools

When trying to build a successful and ultimately profitable startup, you need to justify all your actions, processes and investments to your investors, and that includes justifying every piece of tech you use. Without a doubt, automating as many processes as possible to minimize startup financing waste is important for startups who need to maintain or prolong their financial runway.

To run an efficient operation internally, you need to use tech that allows you to automate menial tasks and facilitates easy collaboration between teams and departments. Ultimately, internal automation will have a direct impact on your bottom line and will allow you to develop better technologies for your end users.

Workflow automation encompasses any technology, preferably AI-driven, that allows individuals and teams to focus on your core offering instead of redundant and repetitive tasks. Think manual data entry, onboarding, creating invoices, customer support ticketing, and the like.

Marketing automation and CRM software

Experienced tech leaders and investors understand the importance of branding, marketing, and other crucial processes that many novice entrepreneurs tend to overlook. While you might want to focus solely on developing your technology and solutions, the reality is that your tech startup cannot succeed without proper branding and marketing.

In other words, you need to invest in these as well, but you don't want to waste finances. Consider automating as many marketing processes as possible. On social media, use LinkedIn training to help your staff refine their B2B and B2C strategies and then complement their work by using a scheduling and automation tool.

Consider doing the same for all relevant marketing channels, and find ways to automate posting, content creation, review management, and communication with customers. You can use an AI-driven chatbot to automate direct communication with customers and leads, and reinforce your sales and marketing efforts.

Invest in blockchain solutions and tools

It's safe to say that blockchain technology is transforming the world and many tech sectors and niches. Regardless of the niche you're in, you should consider investing in blockchain-based technologies to minimize your financial waste and achieve numerous other goals when it comes to operational efficiency, security and more.

The blockchain is the most secure platform tech startups can work on, and you can use it to store and protect mission-critical files and documentation, but also to keep your employees and customers anonymous. All transactions on the blockchain are anonymous as well, and transaction speed is higher with no fees.

There are many reasons to invest in blockchain-based solutions, including expanding into cryptocurrencies to diversify your revenue streams. If nothing else, the blockchain environment can serve as a secure, reliable platform for product development and for ideating new technologies that will take your startup forward.

Wrapping up

Tech startups need to leverage existing and emerging technologies to retain their competitive edge, minimize financial loss, and help support steady growth from inception to profit. That said, tech investments can be extremely expensive, which is why you need to choose your technologies wisely and justify their implementation to your investors.

With these technologies in mind, go ahead and make the essential investments that will take your tech startup forward in 2022 and beyond.

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