The integration of 3D printing technology in scientific research is reshaping the way researchers approach innovation and discovery in Detroit. With its ability to create intricate geometries, rapid prototyping, and customization options, 3D printing offers new avenues for scientific exploration and experimentation.

The Rise of 3D Printing in Scientific Research in Detroit

In the last ten years, the progress and integration of 3D printing technology in scientific research within Detroit have been truly astounding. The ability to fabricate complex three-dimensional structures with precision and efficiency has revolutionized the way researchers approach their work. Scientists and engineers in Detroit have recognized the immense potential of 3D printing to accelerate the pace of discovery and innovation in various scientific fields.

The integration of 3D printing technology into scientific research in Detroit is revolutionizing the way researchers approach their work. By leveraging the capabilities of 3D printing, Detroit’s research community is able to accelerate the pace of discovery, overcome traditional manufacturing limitations, and unlock new possibilities in fields ranging from medicine to engineering. The use of 3D printing in scientific research is reshaping the landscape of innovation in Detroit, driving advancements, fostering collaboration, and positioning the city at the forefront of scientific breakthroughs.

Applications of 3D Printing in Scientific Research in Detroit

Medical Research

Customized prosthetics and implants:

3D printing technology facilitates the production of personalized prosthetics and implants that are customized to fit an individual’s unique anatomy. This approach ensures a better fit, improved comfort, and enhanced functionality for the patient.

Organ and tissue printing for transplantation:

Researchers in Detroit and other places have made significant progress in 3D printing functional organs and tissues. This advancement offers hope to patients on transplant waiting lists, as it has the potential to address the shortage of donor organs and reduce the risk of organ rejection.

Drug delivery systems:

3D printing enables the fabrication of intricate drug delivery systems. This technology allows for the creation of complex structures with precise control over drug dosage and release, leading to more targeted treatments and improved patient outcomes.

Aerospace and Engineering Research

Rapid prototyping and testing of complex components:

3D printing expedites the design and testing of intricate aerospace and engineering components, resulting in reduced time and costs associated with traditional manufacturing methods.

Lightweight and optimized designs for improved performance:

By harnessing the capabilities of 3D printing, researchers can develop lightweight and optimized designs that enhance overall performance and fuel efficiency in various industries.

Enhancing efficiency in manufacturing processes:

In Detroit and beyond, researchers are leveraging 3D printing to streamline manufacturing processes, leading to improved efficiency and reduced waste. This technology allows for the production of complex geometries and intricate parts with greater precision and speed.

Materials Science Research

Advancements in Material Development:

3D printing technology facilitates the exploration and development of advanced materials with specific properties. Researchers in Detroit can leverage this capability to push the boundaries of scientific research and expand the possibilities for innovative applications in various fields.

Printing of Intricate Structures for Analysis:

Researchers can utilize 3D printing to create intricate structures for analysis and experimentation purposes. This enables them to study complex phenomena and gain insights into the behavior and performance of materials and systems across different scientific disciplines.

Exploration of New Materials and Applications:

In Detroit, 3D printing is driving the exploration of new materials and their potential applications. By leveraging this technology, researchers can investigate novel materials and assess their suitability for various scientific fields, leading to advancements in areas such as engineering, medicine, and materials science.

Collaborations and Innovations in Detroit

Collaboration between research institutions and 3D printing companies: 

• Detroit’s vibrant ecosystem fosters collaboration between research institutions and 3D printing companies, creating a powerful synergy that drives innovation and breakthroughs.
• By joining forces, researchers and 3D printing experts can combine their expertise to tackle complex scientific challenges and explore new frontiers in technology.
• Through collaborative initiatives, the exchange of knowledge, resources, and ideas thrives, driving scientific advancements to new heights and expanding the horizons of what can be accomplished with 3D printing technology.
• Through these collaborations, research institutions gain access to state-of-the-art 3D printing equipment and expertise, while 3D printing companies benefit from the insights and specific needs of scientific researchers.

Success stories and breakthroughs achieved through collaborations in Detroit: 

Customized Medical Solutions:

In Detroit, the collaboration between researchers and 3D printing specialists has led to remarkable advancements in customized medical solutions. By leveraging the capabilities of 3D printing, patients now have access to prosthetics and implants that are precisely tailored to their unique anatomical specifications. By adopting a personalized approach, individuals with limb loss experience a notable enhancement in functionality, comfort, and overall quality of life or other medical conditions, placing Detroit at the forefront of innovative medical treatments.

Organ and Tissue Transplantation:

The convergence of researchers, clinicians, and 3D printing experts in Detroit has yielded groundbreaking progress in organ and tissue transplantation. Through 3D printing technology, intricate organ and tissue structures can be fabricated with precision. This development holds tremendous potential for addressing organ shortages and minimizing the risk of rejection. By printing functional organs or scaffolds that promote tissue regeneration, scientists in Detroit are revolutionizing the field of transplantation medicine and offering hope for patients in need.

Advanced Aerospace Components:

Detroit’s expertise in engineering and manufacturing, coupled with the utilization of 3D printing technology, has accelerated advancements in aerospace components. Through rapid prototyping and testing, complex components can be efficiently produced and iterated upon, significantly reducing costs and time compared to traditional manufacturing methods. Moreover, the lightweight and optimized designs enabled by 3D printing have improved aircraft performance and fuel efficiency. 

Advantages of 3D Printing in Scientific Research in Detroit

Customization and Personalized Solutions:

A notable advantage of 3D printing in scientific research in Detroit is the capacity to develop exceptionally tailored and personalized solutions. Researchers can leverage 3D printing technology to tailor designs to meet specific needs and requirements, whether it’s patient-specific medical devices or specialized components for research purposes. This customization capability enhances the effectiveness and efficiency of scientific research, allowing for more precise and targeted solutions.

Reduced Cost and Time for Prototyping:

3D printing offers researchers in Detroit a cost-effective and time-efficient alternative to traditional prototyping methods. By utilizing this technology, scientists can significantly reduce the costs associated with tooling, manufacturing, and assembly that are typically associated with prototyping. Moreover, the rapid prototyping capabilities of 3D printing enable researchers to quickly iterate and refine their designs, accelerating the overall research and development process.

Improved Accuracy and Precision in Manufacturing:

The precision and accuracy of 3D printing technology have revolutionized manufacturing processes in Detroit’s scientific research. Researchers can achieve intricate and complex designs with unparalleled precision, ensuring the production of highly detailed and accurate prototypes or functional components. This level of precision is crucial in various scientific disciplines, such as biomedical research or material science, where intricate structures or delicate features play a significant role.

Multi-Disciplinary Applications:

3D printing has diverse applications across scientific disciplines. It is used in fields such as biology, chemistry, materials science, engineering, and medicine. In Detroit, researchers can harness the potential of this technology for diverse applications, spanning from crafting intricate microfluidic devices to fabricating anatomically precise models crucial for surgical planning.

Collaboration and Knowledge Sharing:

3D printing fosters collaboration and knowledge sharing among researchers in Detroit. The open-source nature of many 3D printing technologies allows researchers to share designs and techniques, accelerating the pace of scientific discovery and fostering a collaborative research ecosystem.

Future of scientific research in Detroit with 3D printing

Emerging technologies and their potential in scientific research: 

Bioprinting:

Bioprinting involves the precise layer-by-layer deposition of biological materials, such as cells, biomaterials, and growth factors, to create functional tissues and organs. In Detroit, researchers are exploring the possibilities of bioprinting to address the critical shortage of organs for transplantation, create patient-specific tissue models for drug testing, and advance the understanding of complex biological processes.

Nanoscale 3D Printing:

This cutting-edge technique allows for the fabrication of structures at the nanoscale level, with precise control over shape, size, and composition. Nanoscale 3D printing opens up new possibilities in nanotechnology, electronics, photonics, and materials science. In Detroit, researchers are harnessing this technology to create nanoscale devices, sensors, and materials with enhanced properties. This advancement has the potential to revolutionize industries such as electronics, energy, and biomedical engineering.

Multi-Material 3D Printing:

Multi-material 3D printing allows for the fabrication of complex structures with varying properties, such as stiffness, flexibility, conductivity, and transparency. In Detroit, researchers are exploring this technology to develop novel materials, functional devices, and advanced prototypes. This technology has applications in fields ranging from electronics and robotics to biotechnology and consumer products.

Machine learning and artificial intelligence (AI):

Integrating machine learning and AI algorithms with 3D printing technology can enhance the design, optimization, and control of the printing process. By leveraging AI, researchers can accelerate the development of new materials, optimize printing strategies, and overcome complex challenges in 3D printing.

Role of 3D printing in fostering innovation and discovery in Detroit:

Design Freedom and Complexity:

In Detroit, the utilization of 3D printing technology has played an important role in fostering innovation and pushing the boundaries of what is possible. Researchers can leverage the design freedom offered by 3D printing to create intricate geometries and functional prototypes that were once unattainable. This breakthrough capability allows scientists to explore unconventional designs, optimize performance, and discover new solutions to complex problems, positioning Detroit as a hub for cutting-edge design innovation.

Rapid Prototyping and Iteration:

The integration of 3D printing in Detroit’s scientific research landscape has revolutionized the process of rapid prototyping and iteration. By leveraging online 3D printing services, researchers can swiftly transform their ideas into physical prototypes, expediting the testing, evaluation, and refinement phases of the innovation process. This iterative approach allows for more efficient exploration of multiple design iterations, enabling researchers to fine-tune their concepts and identify optimal solutions at an accelerated pace. Detroit’s scientific community is taking full advantage of this capability, driving innovation and discovery with unmatched speed.

Customization and Personalization:

In fields like medicine, the power of customization and personalization offered by 3D printing has transformative implications. Detroit’s researchers recognize the potential of 3D printing technology to deliver patient-specific treatments, such as personalized implants, prosthetics, and medical devices. Through the integration of 3D printing services, scientists in Detroit can enhance the effectiveness and efficiency of scientific research by tailoring solutions to individual patient needs

STEM Education and Workforce Development:

The adoption of 3D printing in Detroit has also had a positive impact on STEM (Science, Technology, Engineering, and Mathematics) education and workforce development. Schools, colleges, and community organizations have integrated 3D printing into their curricula, providing students with hands-on experience in design thinking, engineering principles, and digital fabrication. 

Manufacturing and Supply Chain Optimization:

3D printing has the potential to disrupt traditional manufacturing and supply chains, offering opportunities for increased efficiency and localized production. In Detroit, 3D printing technologies have been utilized to produce parts and components on-demand, reducing the need for extensive warehousing and transportation.

In the vibrant city of Detroit, 3D printing has emerged as a transformative tool in scientific research, fueled by innovation and technological advancements. KARV Automation, a leading provider of 3D printing services, plays a crucial role in empowering researchers and driving scientific progress. With their expertise and commitment to advancing 3D printing technology, KARV Automation offers tailored solutions that accelerate experimentation, enable customization, and fabricate complex geometries, unlocking new possibilities for researchers in Detroit.

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Top Manufacturers of Mobile Cobots and Their Developments

The Yaskawa Electric Corporation is a Japanese manufacturer of servos, motion controllers, AC motor drives, switches, and industrial robots. Yaskawa has always provided support to the leading business across the ages by transforming from “a motor manufacturer” and “an automation company” to “a MECHATRONICS company” with the help of its management philosophy and the performance of its business.

In February 2022, Yaskawa launched two new collaborative robots, HC10DTP and HC20DTP, for industrial applications. The HC10DTP and HC20DTP enable humans to work safely with robots. With the launch of collaborative robots, a variety of tasks including assembly, dispensing, machine tending, material handling, packaging, and welding can be executed easily..

KUKA is a German manufacturer of industrial robots and systems for factory automation. It offers different products ranging from robots and cells to fully-automated systems to its customers. This company also provides automation solutions for a wide range of industries such as automotive, aerospace, food and beverage, logistics, electronics, consumer goods, e-commerce/retail, and healthcare.

In August 2022, KUKA launched LBR iisy cobot. With six axes, a 3-kg payload, 600-mm maximum reach, and 18.8-kg overall weight, the LBR iisy is well-suited for overcoming the challenges posed by confined workspaces. This cobot can easily integrate into any manufacturing applications such as pre-defined production processes and increase the efficiency of the workers in the manufacturing processes.

FANUC is the world’s leading supplier of automation for manufacturing including robotics, CNCs and motion control, and ROBOMACHINE machining centres. In March 2022, Fanuc Corporation introduced three new models to its CRX line of collaborative robot arms, CRX-5iA, CRX-20iA/L, and CRX-25iA. The latest additions to its popular CRX series include the CRX-10iA and CRX-10iA/L. CRX cobots are designed for small and large manufacturers to expand their capabilities and overcome labour issues.

Peer Robotics is a collaborative mobile robotics company that develops material-handling solutions for manufacturing industries. This company delivers human-centric and adaptable mobile robots for efficient material movement in warehousing, manufacturing, and assembly lines. In October 2020, Peer Robotics developed a collaborative autonomous robot for warehouse automation and material handling in manufacturing facilities. This robot can seamlessly navigate through complex environments without any change in the existing infrastructure.

Fetch Robotics offers a wide range of warehouse robots to enable automation in manufacturing and warehousing operations. In August 2021, Fetch Robotics partnered with Lucas Systems to develop the next generation of smart warehouses. The partnership helped to optimize the collaboration between warehouse workers and cobots.

Opportunities in Mobile Cobots Industry

The development of the Industry 5.0 is expected to create ample growth opportunities for the mobile cobots industry. Industry 5.0 integrates humans and machines such as cobots to increase overall industrial production efficiency. A shift from robots to cobots is taking place in Industry 5.0 and enabling robots to collaborate with human workers at the centre of the manufacturing process. The introduction of faster, smaller, and more flexible cobots has accelerated the development of Industry 5.0.

Also, new mobile cobots with a payload capacity of up to five times the existing ones are embedded with robotic grippers to perform applications such as packaging, heavy machine tending, and material handling in different industries.

Impact of Mobile Cobots

Mobile cobots are having a significant impact on various industries, including manufacturing, logistics, retail, and healthcare. These cobots are designed to work collaboratively with human workers, allowing a more efficient and productive workflow. By automating repetitive tasks and handling heavy loads, mobile cobots enable workers to focus on higher-level tasks that require human expertise and creativity. Thus, mobile cobots can help improve the overall quality of products and services which is critical in manufacturing industries.

Conclusion

It can be concluded that mobile cobots can change the landscape in various industries by automating several tasks with high efficiency. It also comes with safety features that enable them to work alongside humans. In 2021, the worldwide mobile cobots market size was valued at USD 6 Billion and is expected to grow at an incredible CAGR of 30.7%, according to Next Move Strategy Consulting.

Several companies such as FANUC, KUKA, Yaskawa and others are adopting strategies such as product launches and collaborations to maintain their dominance in the mobile cobots industry. Also, the development of the Industry 5.0 is expected to act as a future driver for the mobile cobots industry.  

The post Top Market Players Dominating the Mobile Cobots Industry appeared first on Tech Web Space.

He got a degree in B.Tech in the field of Metallurgy and won a silver medal from IIT Kharagpur in the year 1993. He was provided with a scholarship to study materials and engineering from Stanford University in the year 1995. He stayed in the U.S. after that and worked for Applied Materials for a short time. He then transferred to Wharton School (under the University of Pennsylvania) and did an M.B.A. in the year 2002.

Net Worth

The net worth of Sundar Pichai is about $1.3 billion as of February 2022. His net worth fell at a rate of 20% in the same year, according to the source: IIFL Hurun India Rich List 2022. Even after that, he is still one of the wealthiest managers professionally. Pichai is one of the CEO of Alphabet and makes about 242 million dollars each year. He also owns a large part of the aforementioned company.

Career

His career started right when he got his B.Tech degree in the field of metallurgical engineering from IIT Kharagpur. He got a scholarship there to study semiconductor physics and material science at the University of Stanford, which is in the United States.

At the start of his career, he worked as a product manager and an engineer at Applied Materials, which is a company that makes semiconductors in Silicon Valley, the USA.

Sundar Pichai then got an MBA later in the year 2002, where he went to work as a consultant for McKinsey and Company. In the year 2004, he finally joined Google. He then oversaw the product management and was in charge of Google Drive. He made a lot of innovations for numerous Google clients’ software-related products. He also originally made Google Maps, Gmail, and other programs.

Tip: If you missed it, I mentioned a while before that Sundar Pichai net worth is estimated almost US $1310 million (Rs 10,215 crores approx) as of 2022.

Google Chrome

Sundar Pichai’s career convinced both Larry Page and Sergey Brin (who originally started Google) to launch the browser of Google.

Sundar Pichai was a significant person behind the launch of Google’s browser back in the year 2008. Chrome browser then went on to beat other browsers like Internet Explorer and Firefox and became the best browser in the whole world. He then became even more famous when the browser became a huge success.

Some Random Facts About Him

Here is a list of some of the facts about Sundar Pichai:

1. He used to excel at the sport of playing cricket back when he was in school. His leadership skills were also evident back then, as he was selected as the caption for his school’s cricket team.

2. Pichai’s wife, Anjali Pichai, was his classmate back when he was at IIT Kharagpur. They had a very strong bonding, and even the years and distance between them could not try and part these future companions.

3. He has also been openly credited with making the Android team even more open. Before he took charge of Android from Andy Rubin, it was believed that Android was only just a rogue unit within Google.

FAQs

Here are a few frequently asked questions regarding Sundar Pichai:

To Wrap It Up!

That was all the information regarding the life, career and success of Sundar Pichai as a person. Thank you for reading up till here. I hope you found the information useful. Let me know in the comments your thoughts on the same.

The post What’s The Net Worth Of Google CEO Sundar Pichai? appeared first on Tech Web Space.

All these, consume a lot of time and effort leaving not much bandwidth for what CFO’s actually be doing, like:

• Collaborating with the business lines
• Analysis
• Offering crucial cross-functional insights

All in all, being a Chief Financial Officer means knowing much more than just advanced knowledge of Finance and Accounting concepts. Indeed, it means understanding how an entire company and the industry works and how you can make that company more profitable and competitive.

Thus, it’s right to say, “CFO’s wear multiple hats.” 

Furthermore, overseeing the financial activities of an entire company, the CFO acts as a catalyst instilling a financial mindset throughout the company.

In a nutshell, financial automation not just makes the closing book easier, also it accelerates the process far more frequently, which in return offers a real-time view of the company scenario.  To add, RPA allows CFO’s and financial advisors to evolve according to the market flux, becoming the forerunners that constantly assist along a growth-oriented path.

Let’s have a look at the handful of benefits RPA offers CFO and related departments and evaluate where it would fit into your own enterprise.

Unlocking The Benefits of Finance Automation for CFOs

Undoubtedly, the rush to automation is warranted. Financial automation especially allows teams to reach efficiencies that are a little difficult to comprehend today.

And, being a CFO or a financial advisor, you should encourage and maximize these changes – not only for investors or the company’s long-term success but also for better utilizing resources.

After all, Bill Cline (KPMG Advisory Principal) once said –

So, let’s unlock the benefits!

Enhanced Productivity and Minimized Operational Costs  

RPA’s core objective is to automate voluminous, repetitive, and manual low-value work.

So, integrating RPA streamlines business operations and returns hours to the business and enables employees to focus on more prioritized projects. Freeing up resources also lets them focus on high-priority tasks that are often tabled because employees are only occupied with keeping up with the volume of manual work.

Moreover, one of the main arguments that favour automation in finance is reduced operational costs that directly relate to an organization’s pricing. This means more available cash flow for innovation and high-value activities.

According to a Deloitte survey, RPA leads to:

• 92% improvement in compliance
• 90% improved quality
• 86% maximized productivity
• 59% cost reduction

when integrated correctly, RPA can result in 25-80% of savings on current operating costs. For example, KPMG stated that RPA could save up to 75% for financial service companies.

Nearly Zero Operational Risks

“Push Your Team To excel, Not Excel!” 

• Do you still certify an Excel workbook as a system of record?
• Does your F&A team specialize in complicated formulas and macros?
• Or are you at the brink of a key-man dependency because someone on the team built a complex formula-powered, cross-referencing data of an Excel spreadsheet?

RPA is a one-stop solution to eliminate End User Tools and the red flags of corrupted Excel files. Also, RPA ensures that the same steps are completed the same way, which eliminates the risk of not refreshing or retrieving up-to-date results.

Simply put, RPA processed data will be consistent, standard, auditable, and documented.

Addressing Workflow Inefficiencies & Bottlenecks

Many aspects of accounting and finance are repetitive but crucial for accessing and analyzing an organization’s financial health. For example, auditing, transaction matching and reconciliation are some processes that require employees to prepare and approve, making the complete financial process susceptible to inefficiencies and bottlenecks.

And as a CFO, the core focus is on the timely delivery of precise financials to stakeholders. Still, bottlenecks can result in missed deadlines, further extending the completion of the financial closure period.

Efficiently identifying bottlenecks and delegating tasks through Robotic Process Automation allows CFOs to accelerate the financial process and meet delivery deadlines.

Maximized Control Over Risk and Economic Volatility 

Undoubtedly, it has never been more crucial for CFOs and financial advisors to have the predictive technology and tools in the right place to deliver a strategic and informed approach to risk management.

In Particular, order-to-cash automation solutions can help achieve this. By allowing clarity over customers’ behaviors and historical data and by providing predictive algorithms that identify opportunity and risk, they secure it against an array of scenarios, for instance, downturn and upturn in market conditions, changes in customers’ business, etc.

As a result, CFOs can predict how to optimize potential revenue amidst minimizing bad debt risk.

Source

Generate More Actionable Insights 

Minimizing errors and creating actionable insights from collected data are other unskippable benefit of finance automation.

According to Accounting Today, 41% of errors in finance and accounting originate from humans. In addition, 28% of companies can’t identify the mistake but report the wrong numbers, whereas big organizations spend, on average, ten days per month finding and fixing errors.

But, in the era of finance automation, these are bygones.

RPA, especially amalgamated with Artificial Intelligence, has surpassed human precision, reaching up to 99% accuracy. That path leads to fewer errors, equaling to less time spent resolving errors and avoiding duplicate payments.

Source

Optimizing KPI’s Indicator 

Often, companies do not have any metric to support where employees spend their time, volume, and effort. But, with RPA, organizations can delve into the details of how teams are using their time.

Usually, there are a lot of inefficiencies in manual business processes, so using the extracted information to reengineer the process for automation ensures the processes run more efficiently and effectively.

Furthermore, RPA allows tracking processes for volume counts, exceptions, processing costs, and average processing time.

Remember, isolating and analyzing exceptions further improve process inefficiencies, but it requires added-on metrics to understand how well the process is being executed. 

In a nutshell, the value of robotic process automation in finance is exclusive.

Though it may seem obvious for CFOs to unlock the value of finance automation, it’s high time to shed light on the use cases that make it an ideal choice. After all, a good RPA solution automates the most time-consuming, repetitive, and manual procedures and improves financial processes to uncover new sources of business value.

So, if you are still debating whether to employ RPA, here’s the answer!

Popular Use Cases of Finance Automation CFO’s Shouldn’t Miss 

Let’s have a look!

Accounts Receivable and Payable

Account receivable is keeping track of outstanding invoices and entering data to get paid, including time-consuming tasks. Besides, to be precise, account payable is money owned by the business to suppliers and is another equally crucial finance function that includes numerous steps.

So, it makes managing “accounts receivable” and “account payable” among the most crucial finance functions because it eliminates undesirable cash gaps. In addition, it’s beneficial to understand Days Sales Outstanding (DSO), which is the time taken to get paid.

With RPA, it becomes a lot easy to prepare invoices, manage status, and hasten the speed of payment because you eliminate the risk of skipping anything. And furthermore, invoices are directed to the relevant person for approval, minimizing CFO’s work.

Financial Planning and Analysis 

Financial Planning and Analysis, popularly known as FP&A, comes under the umbrella of the CFO’s priority domain. After all, projecting short- and long-term financial strategy needs a lot of prep work and research.

This is a crucial aspect where a CFO demonstrates their worth.

And, not to forget, much time is consumed by sourcing, aggregating, and formatting data rather than strategically analyzing and planning. As a result, RPA once again eliminates several data entries to free up time for better forecasting and decision-making.

Forecasting becomes more precise and reliable, helping FP&A teams make more informed business decisions for the company.

Client On-Boarding

Client onboarding in the financial service sector is a time and effort-consuming process; the standards require a thorough check, known as “Know Your Customer”.

This usually takes up the complete team’s time as they comb through internal and external data sources to identify any information that could be a potential risk to your business. On the contrary, integrating Robotic Process Automation pulls information from several sources, validates it with the present data on file, and presents a report to compliance managers to check whether the client is at risk or safe.

Account Reconciliations

One of the most prominent use cases of RPA for finance is “Account Reconciliation” and “Intercompany Reconciliation.”

This process occurs at regular intervals, whether daily, weekly, monthly, quarterly, or yearly. Regardless of what type of reconciliation is conducted, it needs precise attention to detailing and data collection.

With RPA, data is easily and precisely processed to determine whether there are any discrepancies between internal ledgers and external documentation, minimizing CFOs and finance team efforts.

Software bots notify the finance team if reconciliation must be performed.

Financial Reporting 

Financial reporting is a part of finance and accounting that finance ERP systems usually take care of.

Finance automation does not replace this tool; instead, it complements it by eliminating the remaining manual processes like journal entries and external reporting. Even the precise financial automation solution helps streamline the financial process from initiation to completion, allowing teams to pace up workflow and remove the need for manual data entry.

To put it all, financial automation is not merely another IT project. Instead, it should be a standard feature in any company’s business transformation plan or digital strategy.

Furthermore, market estimation supports the fact that finance executives and CFOs are more curious to automate their processes. Especially in the case of Finance and Accounting outsourcing, 47% of the CFOs belonging to the buying organizations consider automation competencies a crucial capability.

Here’s A CFO’S View on the Future of Financial Automation

Today’s Chief Financial Officers (CFOs) is experiencing more and more how the automation world and process mining are becoming intertwined. Simultaneously, they are equally interested in how the amalgam of these two technologies will work to accelerate the improvement of several finance processes and accomplish higher ROI for their RPA investments.

Considering this, Gartner recently presented the results of their December 2021 CFO survey, shedding light on some very interesting insights:

• A whopping 80% of finance leaders agree that finance must accelerate its integration of digital technology, like Robotic Process Automation and Artificial Intelligence to efficiently support the business by 2025.
• Among several process automation and optimization technologies in financial automation, only three are expected to witness an increase in investments in the next two years – RPA, Reporting Automation, and Process Mining.
• RPA curates as the technology most often cited by CFOs in supporting their hyperautomation core values. So, when deploying RPA, CFOs foresee investment in process mining as a key to unlocking returns.

Source

Finally, How To Automate Financial Processes? 

Once you establish an automation solution, it should run smoothly, right?

But, before adding a new solution to your tool stack, you need to do some homework. The main steps to transform your manual financial processes to automatic start from:

Defining Your Processes

“Outlining your processes” is the first and foremost step. Having a visual representation of your processes clarifies where inefficiencies and bottlenecks happen. And also review what aspects of the process can be automated.

Building the Workflow Digitally

Next comes building the workflow. Here, resources are assigned for each task. Besides, in some scenarios, it’s possible to eliminate any steps that don’t directly contribute to the intended outcome.

Test The Process & Deploy The Automation Solution

If everything goes as planned, you can establish the financial automation solution across your processes and organization.

But, communicate with your workforce what they will be responsible for and how the automation solution will help them achieve their goals faster and easier.

In A Nutshell… 

Automation, especially RPA, is cementing its footsteps to be a significant asset for CFOs.

Aside from cost reduction, RPA in finance should be considered as the next big leap for business process efficiency, improving relationships with service providers, motivating a digital audit,  and building the opportunity for a finance team that is engaged in strategic functions and decisions of the organization.

Besides donning multiple hats, the CFO continues to keep an eye on cost control, as well as address evolving market requirements with the help of a trusted RPA consultancy firm like Signity. And to retain a competitive edge, the CFO should adapt to changes in the market, and RPA is undoubtedly one of the strong levers to uphold efficiencies in the workplace today.

This Post is originally posted at Signity Solutions as A CFO’s Guide to Financial Automation – Benefits, Use-Cases & Impacts

Thanks, Techwebspace for allowing me to post this article.

The post CFO’s Guide to Financial Automation – Benefits, Use-Cases & Impacts appeared first on Tech Web Space.

The market size of the meal delivery sector was estimated at 130.15 billion U.S. dollars in 2022. The market is predicted to grow more and reach around 223.7 billion U.S. dollars by 2027. The market was forecasted to have increased at an 11.44% CAGR over the period considered.

The primary benefit of meal delivery services is providing hot and ready-to-eat food wherever and whenever the user wants. The main factor contributing to food delivery market growth is the increasingly busy schedule of people. Delivery platforms are more convenient and offer a range of options that are impossible to get across to other platforms.

Top Delivery Players Winning the Food Delivery War in 2022

With the best delivery services, you can easily order whatever you want to eat with a few clicks. You can get pizza, burgers, sushi, biryani, or other favorite dishes from a local restaurant. They can get everything delivered right to doorsteps. Now no need to drive or dine anywhere to enjoy your favorite meals; you can get them right away by ordering them from the top food delivery companies serving in your area.

DoorDash dominates the online delivery market in the U.S. with a 55% market share in 2021. While UberEats stands second with a 22% market share. DoorDash was the most known delivery company in San Francisco; on the other hand, UberEats was known and most preferred in Miami.

In recent years, food delivery services have gained popularity and have increased like anything during the COVID-19 spread. There are top food delivery companies in the world that promise to bring your favorite food to you whenever and wherever you want without leaving the comfort of your sofas. Check the list of top food delivery companies to know what each one brings to your table.

Grubhub

Based in Chicago, Grubhub is an American online prepared food ordering and delivery platform. Developed by Mike Evans and Matt Maloney, the delivery company was acquired by JustEat Takeaway for $7.3 billion in stock, which connects diners with local restaurants. It is one of the other top food delivery companies with more than 19.9 million active users.

Grubhub has 115,000 associated restaurants across 3,200 cities. The company has recently launched a new feature that enables restaurants to expand their delivery zone supplemental. This delivery service will allow restaurants to maintain independence by using their delivery drivers within a specific radius.

As top food delivery companies race to promise customers the quickest option, Grubhub is thinking of entering the ultrafast delivery space by providing delivery within 15 minutes or less. The company is always trying to satisfy the food craving of customers efficiently. It allows searching for restaurants, ordering, and tracking orders from their smart device.

Download Grubhub: Android, iOS

DoorDash

Launched in 2013, DoorDash is an American food ordering and delivery platform. Developed by Andy Fang, Stanley Tang, Tony Xu, and Evan Moore, the delivery platform is based in San Francisco and covers 56% market share. It also covers 60% market share in the convenience delivery category. The platform was used by more than 20,000,000 customers, 4,50,000 merchants, and 1 million delivered in 2020. In December 2020, DoorDash went public on NYSE and trades under the symbol DASH.

The pandemic has accelerated DoorDash’s market dominance and growth. The meal delivery company increased its market share from 20% to 53% in 2018 and 2021. Meal delivery company DoorDash has signed an agreement to acquire hospitality technology start-up Bbot. DoorDash provides new tools and technologies to merchants and helps them run and grow their businesses.

Download DoorDash: Android, iOS

Talabat

Founded in Kuwait in 2004, Talabat is an online food ordering company. As of 2021, the online ordering and delivery platform operates in Saudi Arabia, United Arabs, Qatar, Kuwait, Bahrain, Jordan, Iraq, and more. 

Abdulaziz Al Loughani and Khaled Al Otaibi launched the platform with the aim to provide quick service to food lovers on their demand. Talabat Egypt partners with Ibrahim Badran foundation to facilitate donations to healthcare in remote villages.

Download Talabat: Android, iOS

UberEats

Launched by Garrett Camp and Travis Kalanick in 2014, UberEats is an online meal ordering and delivery platform. Users can easily read menus, reviews and give ratings; they can even order and pay for meals directly through an easy-to-use platform. 

Meals are delivered by couriers using scooters, bikes, cars, or foot. The company operates in more than 6,000 cities in more than 45 countries. UberEats recently got a group order and bill splitting feature that ensures your family and friends are picking up their share. 

Download UberEats: Android, iOS

Gopuff

Headquartered in Philadelphia, Gopuff was founded in 2013 by Rafael Ilishayev and Yakir Gola. As of 2021, US-based food and goods delivery companies operate in around 650 US cities through around 500 micro fulfillment centers. It operates in the U.K., following a takeover of Newcastle upon Tyne-based Fancy. As of 2021, the delivery company was valued at $15 billion.

Download Gopuff: Android, iOS

Seamless

Launched by Paul Appelbaum, Todd Arky, Andy Appelbaum, and Jason Finger SeamlessWeb in 1999, the company provides companies with a web-based system for ordering and delivering food from caterers and restaurants. Seamless North America LLC is an online meal ordering service that enables users to order meals for delivery and takeout from local restaurants through their website or apps.

Download Seamless: Android, iOS

ChowNow

Founded in 2011, ChowNow is an online meal ordering platform that connects consumers with local restaurants. The company is headquartered in Los Angeles; has partnered with Cartwheel partners to expand hybrid delivery capabilities for SMBs. Eric Jaffe and Christopher Webb started the company to facilitate food lovers ordering and getting their favorite meals delivered to their doorsteps.

Download ChowNow: Android, iOS

Delivery Hero

Founded in 2011 by Kolja Hebenstreit, Niklas Östberg, Lukasz Gadowski, and Markus Fuhrmann Delivery Hero turned into an online food ordering platform. German multinational food delivery service company is based in Berlin and operates in more than 50 countries internationally in Asia, Latin America, Middle East; and has partnered with more than 500,000 restaurants. 

The company has branched beyond meal delivery and is a leading player which delivers small batch orders within an hour. Delivery Hero in 2021 processed more than 791 million orders, a 25% growth year-on-year.

Download Delivery Hero: Android

Just Eat Takeaway

Created by Jitse Groen in 2000, Just Eat Takeaway is a Dutch multinational meal ordering and delivery company. The company was started when the founder faced difficulty ordering meals from local restaurants. The company’s primary focus was to deliver all kinds of goods, making it easier for customers to order meals online from their favorite restaurants.

Download Just Eat Takeaway: Android, iOS

Postmates

One of the top food delivery companies globally, Postmates was founded in 2011 and was acquired by Uber for $2.65 billion. It aims to expand its presence in food delivery while its essential ride-hailing business struggles. Launched by Sean Plaice, Bastian Lehmann, and Sam Street, Postmates operates in more than 2,940 U.S. cities. The company competes with DoorDash, Grubhub, and its sister service, UberEats.

Download Postmates: Android, iOS

Swiggy

Two founders, Sriharsha Majety and Nandan Reddy, launched Swiggy in 2014. It is an Indian meal ordering and delivery platform that will operate in more than 500 cities in 2021. Based in Bangalore, Swiggy provides online grocery deliveries under Instamart and a package delivery service known as Swiggy Genie.

Operated by Bundl Technologies Private Limited, Swiggy grew into product deliveries under Swiggy Stores’ name. With Dine Out, Swiggy abides the done-out battle to Zomato’s turf. Meal delivery is the backbone of Swiggy’s journey to Decacorn-dom. With the acquisition of reservation and discovery business Dine Out, the company is reaching closer to the IPO and Zomato’s all-rounder crown.

Download Swiggy: Android, iOS

Zomato

Zomato is one of the other top food delivery companies founded in 2008 by Pankaj Chaddah and Deepinder Goyal. Founded as FoodieBay in 2008, the company was renamed Zomato in 2010 and provides details, users-reviews, and menus from partner restaurants in selected cities.

Zomato is serving in more than 24 countries and about 10,000 cities; it expanded to Mumbai, Chennai, Ahmedabad, Hyderabad, and more. The company also grew internationally in the United Arab, Qatar, the U.K., the Philippines, and South Africa.

Download Zomato: Android, iOS

Launch Your Food Delivery Company Today!

Getting fresh and hot meals on the table can be challenging, especially after a long and tiring day. Searching and shopping for ingredients, planning, and cooking meals are not possible for people who have busy lives doing work obligations, running a household, and caring for a family.

There are top food delivery companies in the world that you can choose to order and get meals delivered. However, they differ in diets catered to, meal types, quality of ingredients, and cost. You can consider the above list to find the best meal delivery company to order and get meals delivered. 

Looking at the growing market, many entrepreneurs are choosing to develop an advanced solution with the support of experienced development companies. Want to get a quote? Contact us today at sales@whitelabelfox.com.

The post Top Food Delivery Companies Serving Globally in 2022 appeared first on Tech Web Space.

There are many software tools available to help content marketers create, curate, publish, and measure their content. Whether you use content marketing service packages or do it yourself, here are 10 of the best tools you need to consider:

1. Monday(dot)com:

If you’re looking for a content marketing software tool that can help you with project management, look no further than monday.com. With monday.com, you can easily create and manage content calendars, track project progress, and collaborate with your team members. Moreover, this platform allows you to integrate with other software tools such as Google Drive, Dropbox, and Slack.

2. Hootsuite Insights:

Hootsuite Insights is a content marketing tool that allows you to research, monitor, and optimize your content strategy. It provides insights into the performance of your content, including what’s working and what’s not. Moreover, this tool offers a wide range of advanced features like content recommendations, social media listening, and influencer outreach.

3. HubSpot:

HubSpot is an inbound marketing and sales tool that aids organizations attract visitors, convert leads, and close customers. It offers a suite of tools for content marketing, including a blog tool, social media management, SEO, and lead capture forms. Moreover, HubSpot offers various useful features, such as A/B testing, email marketing, and analytics. All these tools and features make HubSpot an excellent choice for content marketing.

4. Semrush:

This all-in-one marketing toolkit helps content marketers research, create, publish, and measure their content. It provides insights into what topics to write about, what keywords to use, and where your content is most likely to be seen by potential customers. Moreover, if you’re also managing SEO, Semrush can help you track your progress and improve your ranking.

5. Outgrow:

If you’re looking for a way to create interactive content, look no further than Outgrow. With this tool, you can easily create quizzes, calculators, and chatbots to help engage your audience. Not only is Outgrow easy to use, but it’s also affordable, starting at just $29/month. Plus, it integrates with a number of popular platforms like Mailchimp, Marketo, and HubSpot.

6. Mediafly:

Mediafly helps you turn your content into engaging visual experiences. With Mediafly, you can easily create and share stunning infographics, reports, presentations, and other visual content. This is an ideal tool for those who’re more into visuals and want to make their content more engaging.

7. Kapost:

Kapost is a content marketing platform that helps you manage your content from start to finish. It’s ideal for content marketers who need help with planning, creating, publishing, and measuring their content. In addition, this tool simplifies the challenge of content marketing by integrating with your other marketing tools, such as Salesforce and Marketo. Along with integration, content marketers can also take advantage of Kapost’s content calendar, which makes it easy to plan and publish content on a regular basis.

8. StoryChief:

This content marketing tool helps you plan, create, publish, and optimize your content. It also allows you to collaborate with other team members, and track your content performance. Moreover, StoryChief provides content templates and a content calendar to help you stay organized and on track. It’s an excellent tool for people looking for an all-in-one content marketing solution.

9. Percolate:

Percolate is a content marketing software platform that helps you manage your ideas, content, and team. It has an editorial calendar that lets you plan and publish your content and a social media management tool to help you amplify your reach. Percolate also has a built-in analytics tool to measure your content performance. This advanced tool is perfect for those who want to streamline their content marketing process.

10. Buffer:

Buffer is a social media management tool that lets you share your content on multiple social media platforms with just a few clicks. It also provides detailed analytics so you can see which content is performing well and make necessary changes. Moreover, Buffer also allows you to schedule your content in advance, so you can focus on other tasks.

Wrapping up!

These are the top 10 software tools that you can use for content marketing. Moreover, you can also opt for content marketing packages as professionals use these tools to boost overall content marketing. Professional content marketing service packages can save you time and money and let your business have a competitive edge over others.

The post Top 10 Best Software Tools for Content Marketing appeared first on Tech Web Space.

This has forced online retailers to completely reevaluate their shipping services and delivery methods. Companies began to change everything from the type of packaging used to the fuel in their delivery trucks. The result of all of these efforts is a practice known as green logistics. 

What is Green Logistics?

Green logistics is a collection of practices that aim to make the supply chain more environmentally friendly. These practices range from simple and quick-to-implement to complex and expensive. For example, reusing packaging from returned products is a quick and easy way to make your logistics more sustainable. On the other hand, investing in an eco-friendly fleet of delivery trucks will require more money and effort. Let’s take a look at some green shipping strategies and the effect they have on ecommerce businesses. 

Green Shipping Strategies:

Consider Pop-up Warehouses

Pop-up warehouses are a fairly new method of storing products. These warehouses are temporary storage facilities for companies that expect a short-term influx of orders. This makes them perfect for businesses that experience seasonal fluctuations in sales. Pop-up warehouses are generally smaller and lower-tech than centralized warehouses, but they have their advantages. The smaller size of these warehouses means they can easily be positioned closer to customers. This cuts down on the amount of carbon produced during delivery. 

Pop-up warehouses can also double as on-site retail locations or pick-up points. Using a pop-up warehouse as an on-site retail location can sometimes end up completely offsetting the cost of renting a small warehouse. Pick-up points are incredibly convenient for customers who are already in the area. In either scenario, the delivery process is completely eliminated, meaning no air pollution is created in the process. 

Photo by Pixabay

Reevaluate Your Packaging

One of the easiest and most straightforward ways to reduce the amount of physical waste a company produces is the reevaluate the packaging used. Traditional protective packaging such as styrofoam peanuts can take decades to decompose once they’re thrown out. Switching these materials for more sustainable alternatives can also make packages lighter, and easier to transport. Many sustainable packaging alternatives are made from cardboard. Cardboard is widely available and fairly reusable. Additionally, the paper used in cardboard packaging decomposes much quicker than plastic or styrofoam. 

If you already use sustainably sourced packaging, then consider reducing the amount of packaging used in general. Try to use boxes that perfectly fit the products being shipped. This will keep packages safe and reduce the amount of physical waste produced. Smaller packaging also makes it easier to fit more shipments onto a single delivery truck. 

You may even be able to incentivize returning empty packaging after deliveries have been made. This will allow you to reuse packaging almost entirely and reduce the need for new boxes to be made. 

Leverage a Route-planning System

The fuel used in delivery trucks is one of the leading contributors to global air pollution. Some eCommerce companies manage dozens of trucks all with different end locations. This makes delivery routes incredibly difficult to plan efficiently. Fortunately, there are AI-powered solutions to this issue. Route planning software can optimize your delivery routes to be as fuel efficient as possible, regardless of how many deliveries you’re handling. This benefits consumers and businesses while helping the planet. Consumers will enjoy timely deliveries and companies will save money on fuel costs.

Use Alternative Vehicles/Fuels

For companies looking to dramatically reduce air pollution from their delivery trucks, or even eliminate it altogether, there are alternative vehicles and fuels. These delivery methods require more monetary investment, but they are some of the most eco-friendly practices in logistics. If investing in a private fleet of eco-friendly delivery trucks is too expensive, then consider partnering with a logistics company that offers green shipping. Many companies that offer green shipping methods also incentivize them at checkout to ensure they are being used.

The post Green Technology: Strategies for Eco-Friendly Shipping appeared first on Tech Web Space.

Consumers now spend more than half of their digital time on their tablets and phones, making mobile the most popular platform for video ads. According to 2017 research conducted by the Interactive Advertising Bureau (IAB) and e-Marketer, 56 per cent of US internet consumers watched video material on their phones in the previous month, compared to 44 per cent who watched it on PCs.

One of the most popular advertising formats today is video advertising. To increase their online presence, promote sales, and raise brand awareness, businesses invest extensively in video content. It has become one of the most successful techniques to attract consumers’ attention in a relatively short period. When compared to traditional media forms, the ability to capture viewers’ attention in a fraction of the time is a huge benefit for marketers. It’s a dynamic framework for capturing a customer’s attention, establishing a relationship, and increasing sales. It is, however, one of the most costly kinds of marketing. As a result, knowing when and where to employ video advertising to make the biggest impact is crucial.

It’s a form of web advertising that uses pre-roll or post-roll video material to convey advertisements. It’s a highly successful approach to getting your brand in front of your target market, and it’s a format that customers are increasingly using for information and pleasure. However, not all video advertisements are the same. The quality and structure of video advertising have a big impact on your ability to connect with your target audience and get them to respond.

What Does The Future Hold For Digital Video Advertising?

As evidenced by the success of YouTube, Facebook, and Twitter, video advertising may be a very effective kind of advertising. This type of advertising has grown in prominence as an industry. Traditional advertising formats have two major flaws: they are one-way (the advertiser only sees the results) and they lack interactive aspects (the viewer rarely has a voice in how the ad is delivered). Interactive features are used in digital video advertising to engage viewers and also providing eCommerce Product Recommendation is easy.

From the beginning, traditional TV advertising was a broadcast medium that reached a small percentage of the viewing audience. In recent years, technological advancements have made it convenient for online video ad campaigns to reach an even more significant percentage of viewers at scale. Many of the new opportunities in digital video advertising are driven by advances in technology, loosening regulations, and new technologies like 360 video. This is where Digital Transformation Services come in place.

The following are four reasons why video marketing will be the next big thing in marketing:

The rate of engagement for video advertisements is higher

Traditional means of advertising require a greater rate of interaction than video ads. This means that viewers of video ads are considerably more likely to be engaged with the ad and to respond positively to it. Because of the increased engagement rate, video ad viewers are far more likely to be engaged in the commercial and to respond positively to it.

Consumers want to engage with brands rather than merely get information from them. As a result, the most effective video advertising has a high level of involvement. A firm may, for example, create a video commercial for a product, put a product in the movie, and ask viewers to vote on which product they prefer.

Higher rates of click-through

A video advertisement is considerably more likely to be clicked on than a standard one. This means that when people see a video ad on a website, they are far more likely to click on it than if they see a regular ad. When watching a video ad, this greater click-through rate also means that the percentage of viewers that click on an ad is higher.

This is significant since it expands the number of opportunities for the advertiser to reach the viewer. High click-through rates also contribute to increased levels of engagement, which in turn leads to higher levels of response, increasing the number of times.

Sales have increased

The sales impact of video marketing has been thoroughly proven. Video drives more sales than traditional forms of advertising, according to a 2016 study by the Marketing Accountability Institute.

When it comes to making a purchasing decision, consumers are increasingly turning to online video marketing. This is especially true for research-intensive purchases like buying a car or a refrigerator. Video ads are also a useful strategy for increasing sales because they allow marketers to approach consumers at the exact moment when they are most likely to be interested in a product.

It has a disproportionate amount of internet content

Video advertising has also become a major method of marketing, notably on social media, thanks to technological improvements. According to Cramer and Singh (2014), video advertising currently accounts for more than half of Twitter’s advertising revenue, with a growing quantity of digital advertising.

Not only has online video advertising been more prevalent, but ad spending has soared as the number of people watching online video has grown.

The influence of video on content marketing is apparent. Online ad revenue is now largely driven by video. According to a CITE study, the video will account for approximately 80% of internet ad impressions by 2022.

Conclusion

Video advertising is one of the vastly often used forms of advertising nowadays. Video advertising can be an excellent approach to reaching a large audience while also producing a high click rate and increase conversion rates.

Over the last decade, the explosion of digital video advertising has transformed the world of television advertising. In 2022, the market for digital video advertising is estimated to reach $20.1 billion. Customers will expect to be able to buy video commercials from brands they like, and they will expect to be able to watch them whenever they want. Online video consumption, notably on YouTube, is expected to explode in the coming decade, accounting for the bulk of digital video viewing.

The post How Digital Video Advertising Will Dominate The Next Decade appeared first on Tech Web Space.

As market conditions and realities keep shifting, the demand for effective monitoring of portfolio investments in real time has also grown. Known as portfolio monitoring, this is an extremely important aspect of PE and VC firms.

Benefits Of Portfolio Monitoring

PE firms often invest in underperforming or undervalued businesses with potential, while VC firms invest in highly scalable or specialised businesses. Monitoring the progress of these businesses comes with several advantages.

• PE and VC firms often do more than just invest in companies. Effectively monitoring the progress of their portfolio companies helps these firms ensure the success of their investments. Areas where they can offer support and expertise include business strategy, managerial expertise, product technology interventions and distribution
• Portfolio monitoring helps in tracking the financial performance of businesses, including cash flow, profit and loss and expense and revenue. Doing so on a regular basis gives the firm a bird’s-eye view of all investments and their success rates
• PE and VC firms are always on the lookout for new investment opportunities, and the performance of existing portfolio companies can help direct them on future investment opportunities and needs.

A Specialised Approach To Portfolio Monitoring

Until a few years ago, asset managers used spreadsheets and manual processes to track and analyse the performance of their assets. Manual efforts tend to compromise both speed and efficiency, not to mention the absence of real-time data.

Effective portfolio monitoring is emerging as a specialised vertical, where access to strategic market research and best practices in terms of operations play a key role in decision-making in a dynamic market.

Specialists in the field, such as Acuity Knowledge Partners (Acuity), offer industry expertise along with state-of-the-art portfolio monitoring tools. By approaching these providers, PE and VC firms can benefit from access to superior portfolio and risk analytics, efficient investment operations, enhanced reporting solutions, robust data integration and management, and bespoke applications, tools and dashboards.

Technology Powering Effective Portfolio Monitoring

The introduction of technology-driven solutions has brought in more efficiency to portfolio monitoring. It offers quick access to a portfolio’s entire life cycle within the click of a few buttons. The more intuitive and flexible the tool, the more value it creates for all stakeholders. Here are some core features of portfolio monitoring tools:

• End-to-end cloud-based portfolio-monitoring tools make data and insights accessible to asset managers anytime and anywhere via smartphones, laptops, tablets and other devices that support the software
• They can be integrated seamlessly into existing tech stack and processes
• A robust cash flow engine makes it easy to calculate investment values, multiples and internal rates of return (IRRs)
• Tracking across sectors and sub-sectors is made possible
• Automated data extraction allows users to easily get data from reports in PDF format to Excel files, significantly improving turnaround time
• Dashboard charts and analytics can be customised and modified within a brief time period as per requirements
• Bespoke reports can be generated periodically to be shared for internal consumption. Metrics and reports can be customised and generated in the desired format
• Portfolio monitoring tools such as FolioSure offered by Acuity also enable their PE and VC portfolio monitoring experts to liaise with multiple stakeholders for data sourcing, consistency and accuracy

Key Metrics To Be Monitored

Key metrics that need to be monitored can vary based on an asset manager’s objectives. However, private equity managers leverage some key performance metrics or indicators as a measure of a portfolio company’s success:

Gross and net IRR: The IRR is a critical metric that PE managers use to measure and compare the returns on their investments. Managers track all investment cash flow over a predefined period to determine the gross and net IRRs

TVPI multiple calculation: The total value to paid-in (TVPI) multiple estimates a PE fund’s overall performance. It requires two figures to arrive at the correct result – the fund’s cumulative distributions and the paid-in capital’s residual value. It calculates the amount investors would get after the fund’s unrealised assets are sold and are added to distributions already received by the manager. Portfolio monitoring tools, such as FolioSure, provide the input required to calculate these metrics so that users can benchmark the performance

Conclusion

As their portfolios keep growing, PE and VC firms will need to leverage technology and industry expertise to be able to monitor their portfolios efficiently and in real time. Centralising portfolio company data makes it accessible to multiple stakeholders, creates transparency and ensures continuity, particularly when portfolio managers change. Embracing contemporary approaches to portfolio monitoring can help firms focus on their primary objective, which is to maximise value while meeting business targets.

The post Why Portfolio Monitoring Is Important appeared first on Tech Web Space.

But all this comes at a cost – time, resource, and effort. Not all organizations can spare each of these requirements every day, and this is where data extraction software comes into play. So what is data extraction, and what does a data extraction system do? 

What is Data Extraction?

As the word suggests, data extraction retrieves the data from one format into another for further processing. Data extraction contributes much to the process, from cost savings to better decision-making, lesser manual errors, and more. 

There is a need for automated data extraction software and tools to make the extraction process more efficient. This software doesn’t just help streamline retrieving data; it also facilitates scalability, efficiency, control, and accuracy. 

So how does an advanced data extraction software system work?

Streamlines Data Extraction

The advanced data extraction software systems use artificial intelligence to hasten the processes, thereby saving you from hours and hours of mundane administration tasks. From negotiating, conditions and terms to assessing risks in the contract portfolio, complying with the regulations, discovering faults, and more, a data extraction system handles it all by streamlining the process.

It extracts, identifies, and analyzes the data from different documents and effectively expedites the process. 

Discovers and Cleans Data from Multiple Formats

Not all data are created or delivered in the same format. Organizations receive different types of data in unstructured, structured, and semi-structured formats from various sources. The data extraction software supports unstructured formats like DOC, DOCX, TXT, PDF, and RTF. The pre-configured connectors in the software systems analyze, visualize, and remove the unwanted content from multiple sources.

Extracts Real-Time Data for Big Data Analysis

It is necessary to have access to real-time data to make informed and better decisions and carry out a smooth business operation. All organizations are reliant on batch data extraction, which processes data based on the users’ requirements. So, this makes the latest operational data unavailable for analysis. 

The extraction system uses AI, machine learning, and NLP technologies to enable real-time extraction to avoid this crisis. It groups and classifies different content based on the likeness and then extracts the data intelligently.

Validates and Exports the Data

Once the data is extracted, the data extraction software system prepares for the next phase – validation and export. The system verifies the classification tags and the extracted data to enhance and train the model. It also increases the straight-through automation model of the classification tags. 

The software then allows the users to commence the export of converted data. It can export the data across widely-used destinations like Oracle, SQL servers, and BI tools like Tableau. This facilitates the businesses to use the required information in hand to make timely decisions. 

The corporate data has been shooting up by 40% every year. In this scenario, it is nearly impossible to manually track and collect every data flowing through an organization. Make the advanced data extraction software system a part of your organization to manage the data in a better way.

The post How Do Advanced Data Extraction Software Systems Work appeared first on Tech Web Space.