Advancement of Digital Lending in India | Techsaga Corporations

 

Across the world, due to the outbreak of COVID-19 gave rise to the digitalisation of companies and the financial sector is not an exception.

With a global economic crisis and a historic economic slump, 2020 has caused unprecedented disruptions and the digital lending sector has not been spared either.

Techsaga, offers digital marketing services, helping fin-tech start-ups to combat major challenges leveraging the potential of technology to fill the gaps where banks make the lending process inaccessible for customers.

Covid-19 :Stepping up the game

COVID-19 crisis has created a digital ecosystem that has complemented the growth of industries such as e‑commerce, financial services and consumer credit. Consequently, meteoric rise has been reported in digital lending, loan procurement and disbursal systems because of increased smartphone users, facilitating flexible seamless online transactions.

Impact on India:

PWC report stated that India’s digital lending market will witness a growth of 36% by 2023. Digital lending is an emerging way for those who have limited access to financial services.

India’s remotest areas have easy access to the Internet, so can lend financial services digitally in an easy way. New digital money can be lent to people across remote areas overcoming  geographical limitations, reducing transaction costs and enhancing the customer experience. Huge variety of lending models has resulted in an upsurge of contactless processes of digital lending models, each dealing with financial inclusion in unique ways.

Digital lending is transforming the financial health of India.Digital lending is a process of getting a loan digitally with no or minimum paperwork, executed with the help of the Internet. With technological advancement, the traditional banking system in India has been revolutionized, with the facilitation of Digital lending. 

What is the need for Digital lending/Digital loan?

Digital lender platforms can comprehend the paradigm shift in consumer behaviour amidst pandemic, and need of getting instant funds reported. New age tech platforms which are data-driven came into the picture providing loans according to the convenience of consumers.

There are also methods developed to check the creditworthiness of an individual while sanctioning loans. Digital mode of lending requires a tech-infused platform to facilitate lending of loans of any size in an easy manner. Digital loan facility also eliminates the cumbersome procedures of traditional banks involves less paperwork and minimal to no documentation;

Customers enjoy the digital lending in just a click away.

Since 2015, the Indian market has seen an emergence of new players rolling out on tech-enabled services like digital payments, P2P lending, insurance.  India’s financial services landscape underwent a lot of transformation with new regulatory reforms enabling hassle-free customer onboarding, quick and easy Aadhaar-based e-KYC processes, credit risk assessment processes.

Reasons for the growth of Digital Lending Model

• Online consumers prefer easy procedures involving less documentation and hassle-free onboarding 

• Online creditworthiness can be checked also, making it easier to approve or disapprove the loan.

• Advanced Data Security;

• Short disbursal time;

• Smooth process;

• Introduction of e-KYC.

Benefits of Digital Lending

The lending model in India has undergone a huge transformation due to the rise in digitization and automation. The digital lending model provides numerous benefits include-

Easy Loan Access:

Geographical barrier is no more a barrier when it comes to digital loan and any individual can easily initiate a loan application from anywhere at any time, with the help of Internet access.

No Paperwork

Digitization helps the entire procedure to be paperless which means no need to physically attend a bank for a loan requires endless paperwork.

Quick Disbursal

Don’t need to stand in a long queue to get your loan approved and processed, Digital loan is processed in just a matter of time. However, all the required documents should be ready beforehand before initiating online application.

Transparency

Transparency is one of the most significant benefits digitized lending process offers. Loan application provided must contain a good repayment history.

Useful in Emergencies

One can lend an emergency loan on an urgent basis, through quick swift processing and get disbursal.

Access to multiple lenders

Due to digitization, borrowers can access multiple lenders and help you in choosing the best-suited loan, whereas in the traditional banking system borrowers need to visit multiple times to get such information.

Easier access to loans for first-time borrowers

Traditional banking system does not disburse loans easily to first-time borrowers because of no credit payment history. However, this is not true in the case of digital lending, and borrowers can access the loan facility for the  first time.

Innovative Digital lending models

Over the last few years, a plethora of start-ups are investing in the lending landscape through innovative business models. 

Some of these digital models are mentioned below.

• Point of Sale (PoS) based lending

• Bank fintech  partnership model

• Bank-led digital models

• Invoice discounting exchanges

• Peer to peer lending

Challenges of Digital lending

Digital lending involves complex algorithms in the decision-making process while granting loan therefore should be designed in a user-friendly manner and any change must be tested before launch. 

Additionally, digitization means more automated processes and less human intervention. And people who are not that comfortable with the new features and socially backward people are a major segment who may face serious challenges, but time has arrived now to understand and accept this form of transition.

Techsaga, a digital marketing company, can handle a substantial amount of customer interactions with the help of AI-based chatbots, helping in optimizing the lending process by allowing lenders to focus on customer engagement and retention.

Source URL:- https://techsaga.medium.com/advancement-of-digital-lending-in-india-techsaga-corporations-5e004f16c5f9

5 Easy-to-Implement Tips to Improve Your ROI in 2022 | Techsaga Corporations

 One of the biggest difficulties that marketing professionals face is what value can be generated for the company as a whole?

That is, how much money is obtained after certain investments? 

Techsaga, a digital marketing company in Noida, can help you in finding the answers. 

With the increasing competition, every business is focusing on improvement in their profit percentage, therefore, they are also focusing on reducing the cost. Reduction in cost is a difficult process as in this, the business has to determine which areas are not performing well as planned and what aspects of the campaign could be worked on. 

Due to rapid digitization, trends are changing often and it is hard to decide which factors can skyrocket your business growth. But businesses must adapt to these changes rapidly in order to thrive in a challenging world.

Enterprise owners are always trying hard to increase ROI and ensure that all the financial and time investments are paying off with increased revenue. 

However, with Digital Marketing, it is possible to create valuable ROI by using different tactics and SEO strategies. In such a competitive world, businesses should focus on how many strategies will work and which areas or departments need a changes

Focusing on modifying the pre-existing approach, if needed, is one aspect and without monitoring the effectiveness of your actions, one can not bring improvements. Digital Marketing infused ROI can solve that. 

• What is Digital Marketing ROI

Digital Marketing ROI (Return On Investment) is basically assessing the strategic marketing actions to check that these digital investments are getting positive results and generating value. The analysis includes judging what marketing actions can be taken efficiently to attract more consumers

If figures come in negative after implementation of a marketing tactic, that means the company is spending higher on marketing tools and strategies than the returns generated by a specific strategy, therefore that action is causing a loss to a company.

But adopting the right digital marketing strategy creates the desired impact resulting in higher numbers than what was initially invested.

With this fresh figure, companies can identify how successful their marketing plan is, make decisions based on these numbers and statistics, excluding forecasts without any practical reference. Digital Marketing ROI is undoubtedly an unnecessary indicator for any company to succeed.

• Calculating the Indicator:

It is essential to do the evaluation of your pre-existing Content Marketing strategy and how it is impacting your targeting audience, generating leads to your sales team. ROI indicator calculation is, therefore, critical to helping you to make wise decisions. ROI metrics provide insights to the companies about what kind of strategies should be followed to get the desired results. By calculating this indicator, possibilities of better chances of success can be explored. One of the main advantages of Digital Marketing is to precisely know about potential buyers through different digital channels and social media messages.

Without doing an ROI analysis for your actions, companies might miss any important information about the effectiveness of your actions. Among the marketing actions you adopted, one may suit you and another may not be as effective as the previous one, taking down the whole strategy. In this way, a campaign's effectiveness can be analyzed if your company’s resources are used more effectively, based on the performance.

With increasing competition in the marketplace, there is a huge paradigm shift in consumer behavior and companies can’t afford to lose resources in marketing. The critical element here is to get accuracy in all your marketing actions and monitor the effectiveness of the company's Digital Marketing ROI closely. Companies need to evaluate the strategy whether positive returns are in place and what needs to be improved.

• Which tips can be useful to improve your ROI

A recent survey revealed that marketing professionals face challenges precisely to prove the ROI of their actions and strategies. 

Listing some tips for you to increase the Digital Marketing ROI of your company. 

Check them out:

1. Define your goals

Before implementing any strategy or a campaign, companies need to set up clear goals which should be specific, measurable, achievable, relevant, and time-bound. Also utilizing this strategy also helps you to measure your progress. So prima facie for any marketing or sales strategy, the first step plan of action is to set a goal.

Depending on the goals, companies can emphasize strategy focusing on brand awareness or generating leads.No matter what your goals are, a clear plan of action will help you to know what to evaluate.

2. Metrics use

There is no point in calculating Cost per Lead if a company's primary objective is to increase the number of customers? 

Hence, companies should choose the metrics that can be aligned with the objectives of their Digital Marketing campaigns which can be useful.

3. Don’t play unidirectional

Unlike traditional marketing, Digital Marketing offers a plethora of tools and tactics that can talk about numerous possibilities to gain an edge in the market. Therefore, using resources towards more than one action.

4. Identify opportunities for improvement 

Always look for the areas that need more focus and need to improve. Even when the outcome is positive, companies should focus on delivering quality.

5. Don’t stop monitoring your actions

Never miss a chance to improve your Digital Marketing ROI on a regular basis, paying attention to the trends and metrics of your company’s sales activities. Analyzing sales data helps you to figure out what kind of data you should be tracking and the tools you should be using to collect it.

 If before it was not possible to know exactly what the results of a specific strategy were, today all this is easy to do and even more accurate. So be sure to evaluate all your actions and strategies to continually improve them

Digital Marketing ROI is, therefore, in need of continuous improvements, and helps business owners to stand out tall in a competitive market, managing the value of their actions and strategies to get more resources for the sector.

Techsaga, a Noida-based company, assists customers to make progress in the industry while making a good profit out of their business. By means of ROI improvement, we aim at decreasing the investment cost of our customers which results in a gradual increase in profit percentage. 

Agile vs Waterfall: What's Best for Your Projects? | Techsaga Corporations

 

This article will help you to explore the benefits and drawbacks of two prominent software development methodologies i.e Waterfall and Agile.

We will be emphasizing on suitable use of one technology over another, or you may combine practices of both-for your product initiative.

You need to navigate the best development methodolgy before undertaking any project, and which approach can be used in the project as a team. 

Techsaga, Agile Transformations Company in Noida, helps you accelerate your agile evolution in rapid digitization with the latest digital technologies, as Techsaga has well adapted to the new digital realities of the business world. This involves assessing your current maturity levels, identifying key short- and long-term opportunities in Agile, optimizing Agile adoption, planning the integration of Agile with other software delivery initiatives, and recommending the right tools and solutions to accelerate your Agile efforts. 

Making decisions about development methodology is important and you need to ensure that major project development approaches are right for your initiative.

In simple terms, Agile or Waterfall methodologies help you to manage actual tasks of a project that must be organized and acted on.The world leaders in the industry have argued that Waterfall is dead, however, most of the organizations are still using traditional methodology in their process and still being widely used today.

Each software development project poses its own unique challenges and according to requirements, organizations need to decide which development methodology is the best and can be best suited for your product’s development. Appropriate tools, technologies and processes that can result in successful product delivery.

The Waterfall Development Methodology

Waterfall development methodology is a traditional software development approach and follows a prescribed set of parameters and dependencies. 

Generally more suited to less complex projects or projects with pre-defined requirements, processes and roles for team members. The key characteristic is that each step in the software development process must be approved by the project stakeholders before the team is allowed to move to the next step, hence the term ‘waterfall’ is used.

The Waterfall development process follows these key elements:

• Gather all requirements up front

• Design

• Development

• Testing

• Deployment/Delivery

End result or final outcome is a large product.

The Agile Development Methodology

The Agile development methodology is an iterative approach, where project requirements evolve with the time, and requirements and solutions fall in place with the time. Agile approach relies on cross-functional teams which finds best solutions using an iterative process, contrary to traditional Waterfall method. Here in Agile development, being a collaborative approach it defines the roles and responsibilities and plans the entire project before any development work begins.

The Agile development process involves following steps:

• Establish a few initial requirements

• Design

• Develop

• Test

• Deploy

• Evaluate the outcome or results 

• Feedback

• Establish new requirements based on feedback & modify the plan until you achieve the final desired product

Choosing Waterfall or Agile for Your Project:

We should list the factors involved while considering the methodology and help you decide which is more suitable for your project.

Requirements and Regulations: 

Agile: Initial product requirements need to be discussed and strict regulatory requirements.

Waterfall: If your project has strict regulatory requirements, then choose a Waterfall software development methodology.

Few Initial Product & Regulatory Requirements: 

Agile: If your project development has few initial requirements and doesn't need to meet strict regulations, an Agile development methodology is better and will result in project creativity and decreased time to market.

Existing Organizational Processes

Strict Processes in Place

Waterfall: Strict organizational processes that they have to adhere to, trying to introduce Agile processes cross-functionally could be challenging, and so the Waterfall methodology will be more suitable.

Lenient Processes in Place: 

Agile :If your organization doesn’t have strict rules for employees to follow operational processes and have freedom to work flexibly, then Agile offers enough benefits to introduce the methodology.

Waterfall: If the product owner doesn’t want a hands-on approach, then a Waterfall approach provides an environment to get involved only during milestone project check-ins, because requirements and project expectations are defined in detail from the early stage.

High Product Owner Involvement: 

Agile: Agile development methodology allows for the product owner to be deeply involved with the hands-on approach. Clearly specifying the product requirements, and the product owner ultimately makes all decisions on the scope and the functionality of the product.

Using Agile in Regulated Environments

One important aspect of Agile development methodology is that product owners can reap the benefits even if the project is handled with strict regulations or guidelines.

Agile can still be used for projects which are highly regulated, and this software development methodology can be deployed with some modifications that will need to be made and documentation can be re-aligned in accordance with the new changes made to the product. 

As a company that specializes in Agile software development, our teams at Techsaga are constantly executing projects to meet an array of regulatory requirements and security standards. Techsaga deploys an Agile development methodology to meet the unique prepositions and specific requirements of the projects. 

At the end of the day, you need to evaluate the workflow, organizational processes, structure of your collaborating teams, and also need to ensure that given project timelines can be met with Waterfall, Agile, or a hybrid model in an assigned budget.

Make Decision Before you Start:

Best way to get forward is considering your key project goals and determine the variables, dependencies and activities related to your project.

Analyze the success factors and identify the metrics that are critically reviewed by each approach which can work best for you.

Techsaga, a leading IT company in Noida, believes that partners take leverage of our expertise with the technology, training, and development resources. Unmatched customer experiences, unparalleled satisfaction and a broad portfolio of capabilities will undoubtedly take your business to the next level.

Source URL:- https://techsaga.medium.com/agile-vs-waterfall-whats-best-for-your-projects-techsaga-corporations-e410b7ffc3b7 

The Impact Of Technology On Real Estate | Techsaga Corporations

 

In this era of digital dominance, human lives are getting easier because of ever-burgeoning technology. Today, with technological advancement, life got easier with the advent of an automatic on/off switch with motion sensors. 

Almost every industry ranging from fashion to food has embraced technology. One can see their loved ones on a video call, they don’t need to catch a flight to do that.

This is how modern technology has impacted the real estate industry and the effects they have on consumers and developers.

Evaluating returns and identifying risks is much easier now and provides a clear picture of actualized value by doing comparison instantly online. Technology is evolving at an exponential pace, reinventing products, services, and industries. Technology has created an ecosystem for the rapid and exponential growth of businesses over the last century.

Real estate technology has impacted how this industry functions and changed the modus-operandi of the business. Techsaga, an IT company in Noida

, understands real estate tech sector needs  and shifts in consumer behaviors, slowly redefining its technological move with the ever-changing market conditions

Artificial Intelligence In Real Estate

Techsaga, an IT company for real estate industry, allows seamless integration of one of the most powerful innovations in real estate.

Evolution Of Real Estate Tech

The real estate industry is an inherently data-driven industry and technological evolution helped this sector to commence around personal computers and database management systems.

With the advancement in digitization, real-estate witnessed the growth and helps create a global virtue market

One can buy a property today with a simple one-click as compared to before when you need to be present physically to lock the deal. With the advent of the Internet, one can check the detailed images and videos of your preferred location, the reputation of the developer can be searched online, and property specifics. Also one can list their properties online without keeping real estate brokers in the loop, thus saving huge costs and money

View your dream home through virtual reality with a powerful Internet

Virtual reality helps you to enjoy the experience of sitting inside your dream property and also check alignment with your interest before you make a purchase decision.

Virtual reality technology is promoted and created a niche among realtors to advertisers and promote their property on the internet to attract potential home buyers. Thus making it easier for potential property buyers to make quick and wise decisions as compared to the time of no Internet.

Embracing technology in the following ways can help you make the right decision:

1. Automate your back-office operations

Data collection is simple as most realtors today use cloud services. Also, manages CRM equipped with all the necessary property

management tools that you can subscribe to and start using immediately to reach property seekers.

2. Invest in business analytics to gain insights into consumer behavior

This in return will benefit you to reduce marketing efforts and help you to pitch the right market segment.

3. Technology Investment

Investing in technologies like artificial intelligence, virtual reality, etc helps potential investors to make decisions about which properties to invest in. Also, helps you to differentiate your properties like Smart Home solutions from the traditional four-wall houses

Social Media becoming the game-changer

Social media is the backbone of the business world today and has a huge influence on Internet users and consumers across the globe. Social media platforms are used by real estate developers to advertise their projects and attract the interest of their target audience. Social media platforms help interested buyers to learn about the latest property development projects, the amenities, and the infrastructure they are offering, simply with a click of a few buttons.

Converting your home into a smart home

Digital technology is dominating the globe today and technology has complete control of everything. From wifi-enabled cameras to access control gate security systems, switching on and off lights, modern technology has made life easier and comfortable than ever before.

Digital automation has transformed the lives of home buyers, and residents can live their life hassle-free with the help of modern technology. More complicated tasks are becoming simpler with the advent of technology and the digital age witnessing the real estate industry embracing digital technology in full swing.

Techsaga, an IT company for the real estate industry, helps you to move over conventional analysis methods and helps you to draw profitable investments. A CRM is a tool that regulates the sales process and helps real estate businesses manage leads, and is a must-have for every real estate business. It eliminates the cutthroat competition, a primary step in the adoption of technology in the sales and marketing process of a real estate business.

Fundamentals of Efficient SEO | Techsaga Corporations

An SEO approach includes planning and implementing design strategies to improve organic search engine rankings. Generally, SEO strategy is followed to gain more organic traffic.

Techsaga, the Digital marketing experts company in Noida, provides the holistic benefits of content strategy and helps you to grow organic traffic for your content.

Approx 2 million posts are published by WordPress developers every day this means 24 posts are uploaded across the internet per second. To stay ahead of your time, one must never compromise with the content.  Generally, one successful blog can take more than 4-5 hours but its visibility can be optimized in just 10 minutes for its best visibility across the internet.

So, Search Engine Optimization (SEO) is considered the best tool to increase the visibility of the website or to generate more traffic for your online content in the organic results of search engines.  

SEO does play a pivotal role in getting more organic traffic from Google and other similar search engines.  Search engine optimization runs with the two basic elements: 

• On-Page SEO 

• Off-Page SEO

On-page SEO includes all the activity that helps in increasing the search engine page results whereas Off-Page SEO is done to optimize the activities to accentuate the visibility on the internet.

Constituents of On-page SEO

1. Meta Title Meta Description-

Meta title requirements should be met to get the desired results:

• Meta titles must not contain more than 55 characters.

• At Least three coherent keywords are used in order to pitch maximum users

• To get the best visibility in search engines, Meta description is displayed in the shops under meta title, must not exceeding150 characters.

• At least 3 keywords in the preferred language, which should make sense to the targeted audience, must be provided in order to land more traffic to your content.

2. Selection of Keywords - 

Keywords are the term designed to get apt results in search engines. Keywords should match up with the psychology of the end-users and must include the keywords into their meta title & meta descriptions. 

It is an essential task to be found in SERPs, it can only happen if keywords must appear in a webpage and its content. It is preferred to highlight and add those targeted keywords at the beginning of your online content to portray that it naturally fits into the content.

3. Content -

The content of the website is the most significant part as it engages the user and provides the information they are searching for. The content of the length depends upon whether the content is a blog, website log, article, website content, guest posting, both on search engine and SEO. The SEO experts recommend making the content of at least 300 words, but around 500 words can be included on average for a page that must not show redundancy repetitiveness. Content should be creative and must engage the users till the end of it. 

Constituents of Off-page SEO

1. Online Directory-

Online directories can help you to pitch organic users because of the positive reviews from the customer. The online directory definitely enhances visibility because of its presence on various websites. If any negative review is encountered, SEO executives can correct them right away as it constitutes to affect the image of the brand or services.

2. Backlinks - 

Undoubtedly, word to mouth is one of the most efficient ways of advertising, Backlinks are also considered as the essential and trickiest parts of SEO, as it demands outside sources as well. Backlinks automatically generate user engagements by publishing coherent content resulting in great feedback/reviews. The trending way of creating concrete Backlinks is through interacting with influencers or bloggers which ultimately can assist in targeting the audience and focus on the businesses.

3. Social Media - 

Social media is a backbone of an entirely online business model, starting from interacting with the customers to providing all the necessary information in detail about the product & services through video and images, all are done on social media platforms. It is a vital platform in reaching the target audience, resulting in accentuated rates of views and ranking.

Gaining a deep understanding of search engine algorithms and how these search engines affect the organic search results for websites and other online content. Building on SEO knowledge, the key elements for creating an effective SEO strategy include selecting the right choice of keywords and performing keyword research in accordance with consumer psychology and search behavior on search engines.

Also, how to conduct on-page SEO analysis to identify opportunities to improve a website’s search optimization.

Keeping Up with SEO

Businesses are rapidly evolving, so Business owners need to adapt to SEO if they want to give your website the edge over your competition.

Techsaga, a Digital Marketing Solution company, works closely on the fundamentals of solid content creation and copywriting, and helps you to stay ahead of technology trends as well as website click-through rates, engagement, and, of course, rankings through activities like backlinks, site speed, and schema.

Consider us for your next SEO and content campaigns. Get free quote today.

Source Url:- https://techsaga.medium.com/fundamentals-of-efficient-seo-techsaga-corporations-f68eb88836eb