Application Budgeting Approach and Essential Factors

Posted on April 2, 2020
Kevin Bell

Business today, irrespective of the segment they belong to are entering into the application segment. The application development segment is growing in large numbers. Developing applications involves a lot of planning and proper execution. An application is a long-term investment and proper financial design and budgeting is required to ensure the applications that is developed is well budgeted to accommodate the changes that would be required, in order to be successful.  An approach to formulating a budgeting plan should include for factors such as hidden costs testing of applications, a regular upkeep and maintenance. Its highly probable that a business may sometimes underestimate the cost of developing and maintaining an application. It becomes vital that we have a strategic and well formulated budget in place.

A Game of Numbers

Today as we see a rise in the number of businesses using applications to reach out to their customers, we as a business also need to understand budgets and the cost involved in order to build a compelling application. Applications involve time as well financial investment. Before we start developing an application, we need to be aware of what it takes to build, test launch and maintain an application. While developing an application some of the key factors that contribute to the cost of building an application include:

  • Business segment, size and finances
  • Whether the application is going to be a native, mobile or web application
  • The design and final outlook of the application
  • Add on features like artificial intelligence and virtual reality applications
  • Availability on iOS, android and web based
  • Data storage capacity
  • Room for change and upgrades and maintenance
  • API’s and the design of the application
  • Using the right tools for development

Back to the basics:

As the technology grows the features and elements added in an application are changing. Businesses earlier who had only a website are now converting their approach to develop and launch applications. In order to understand what functionality your application is going to serve you need to first understand what it is you want from your application and what is the purpose of developing the application. Deciding if you want to build the application separately for the iOS, android or the web is the starting step of your budgeting. The new buzz word is cross platform applications. Business can now decide if they want to either build an application on the native platform or develop an application that is neutral and then use it across the multiple native platforms.

Key Features of your application

Sometimes in our enthusiasm to develop an application we feel the more the better, hence we want to add all the features possible in the applications. The right number of features, the design, the outlook and testing of the applications are all factors that would contribute towards building your application.  Also remember testing is an integral part of any application development as it helps you fix any problem that may arise so always budget for testing of your applications.

Long term planning

One vital element to keep in mind while designing is to always keep room to add on features upgrade your application and ensuring you planned enough to have solid back end support team. Also make sure you budget for the maintenance and upkeep of the application as sometimes we may tend to overlook this essential and important aspect. Budgeting also include for regular updates and bug issues.

Marketing Strategies

 Marketing and advertising need to account for while developing an application. For an application to become successful every budgeting plan should have room for marketing. With competition sky high we need to ensure we have solid marketing plan to ensure that we reach out not only to our existing customers but to new markets and segments as well.

 In the end every factor contributes to the Success

Developing and designing an application is not an easy task. We need to make sure we pay attention even to the minute of details. Ensure that your application has a strong foundation in terms of the data storage libraries that you use, the design is not a complex and complicated one , the user interface should be smooth and compatible on the platforms on which it is going to be launched on. A well thought out and structured budget will help you launch an application smoothly, connect with your users better and prove to be a good investment for the long-term growth of your business.

Our team at Octos Global has experience in building applications that are of superior quality all the while adhering to the clients’ budget requirements. Our clients are given exactly what they were looking for, as we not only customize to serve our clients better, but we are also flexible in order to accommodate our clients demands. Octos Global always aims to deliver to our clients needs and requirements.

AI, ML and Chatbots: How the trio is changing the IOS app development scene!

Posted on June 19, 2018
Kevin Bell

IPhone app development has been facing tough competition coming from Android. Largely this has happened because the large accessibility of Android both for users and developers. Any mobile app development company can have numerous points of freedom when it comes to Android against the highly regulated and sophisticated IOS app development scene.

IOS app development services have been trying to revolutionize IOS apps for years but the results have recently started surfacing with the help of Artificial Intelligence. Artificial Intelligence might have risen recently as a trend but it has been in the technology setup for years now.

In order to understand the impact of AI systems it is imperative to understand the very meaning of AI in its simplest form – AI enables a machine to replicate the human decision making process using pre-determined rules which are adjusted and improved with availability of more data. Hence, the very job of AI is two levelled – primarily it is supposed to replicate the human decision making process and second to it, it is supposed to go beyond the efficiency levels of a human mind. Whether it comes to playing Chess or Go, AI has already started beating human intelligence levels in various areas. Now, AI is coming at the centre of IOS apps for developers.

There are two forms of AI: General AI and Applied AI. Applied AI is usage of AI for conversational purposes in chatbots, their usage in self-driving cars or music recommendation or even production based on certain choices. General AI on the other hand is based on the premise that the AI system can solve any problem thrown at it. Now, under the wide umbrella of AI are Machine Learning, Deep Learning and Natural Language Processing. Specifically, when it comes to Machine Learning and NLP, chatbots are ever increasing effectiveness of IOS apps.

At its core ML is a subset of AI. Machine Learning is where a neural network made of binary questions or numerical values is created; this neural network somewhat replicates the neural network in our brains which we use to make decisions. Then with reinforced learning of constant feedback on the accuracy of its outcomes, the neural network improves. Natural Language Processing on the other hand focuses on identifying the meanings and underlying subtext of human messages and can also work upon replying them with almost human like responses. Sundar Pichai displayed the voice bot’s competency in handling human interactions at the Google IO 2018 Keynote. This was an example of the proficiency of Machine Learning and Natural Language Processing.

Chatbots have been at the epicentre of the customer service revolution recently and Machine Learning powered AI is just beginning to increase the impact of Chatbots. Till now, Chatbots were supposed to be channels of communication between customers and customer service executives. Chatbots were supposed to handle the mundane queries which were common and frequent amongst customer classes. Now, with AI and ML in place, Chatbots are becoming more empowered.

NLP is helping chatbots understand customer communication in depth, irrespective of the various nuances in the messages. Chatbots bring immense value to the business by being efficient, providing 24 x 7 support and providing on the spot solutions along with handling all the customers at the same time. Essentially, Chatbots with the help of ML can do the following with ease:

1. Provide customers with an interactive environment. Automated answering systems are way too mundane and monotonous for customers to interact with. AI powered chatbots on the other hand give the consumer the space they require to interact.

2. Prompt solutions. Another area where AI is defeating customer executives – providing readily available responses. Customers love the idea of getting their problems solve within the time of a snap.

3. Customer empowerment. At the end of the day, customers get the real delight when they can take matters in their own hands. AI gives them a chance to do exactly that by listening to their detailed queries, being perpetually available and giving instantaneous solutions.

The IOS App Developer Finding Guide: How to find and filter the best IOS app developer

Posted on May 15, 2018
Kevin Bell

IOS has been a great enabler of entertainment and business its users. The everyday users are provided with helpful apps which help them stay organized and entertained. Developers, on the other hand are able to monetize their developed apps and create a genuinely growing business out of it.

Everything written up there is good, but highly irrelevant to most of the businesses. No business wants to know the generic wisdom. Businesses have specific problems and they need specific solutions to keep going. A specific fact is that Apple’s App Store had over 2.2 million apps as of 2017. Out of these millions of apps, the competition to emerge as an app which keeps the users interacting is extremely difficult. That said, if you have a quality app, it will surely get discovered. The question arises – how do you ensure to get a quality app? Simple, by getting the best IOS app development services for your needs.

This may sound like yet another marketing claim but it is essential to get the best IOS app development services in order to create an app that solves genuine problems. It is so simple that most of the businesses do not believe that a developer can create a world of difference; to most of the businesses the idea is everything. One cannot get more distant from reality!

iPhone app development or IOS app development, in specific, is an industry worth billions of dollars globally. Specifically, the industry will be producing Gross Annual Revenues of $189 billion by the end of 2020. That is massive by any standards! Out of these huge numbers, do you believe every app created will be revolutionary? Obviously, not.

Businesses are already prone to multiple risks in the form of market risks, regulatory risks, so on and so forth. In recent times, technological risks have emerged as the game changers for almost any industry. Businesses have been wiped out by technology and hence the new age business leaders are increasingly paying attention to putting the right technology in place.

Now, it is not necessary that a business will have the resources to implement iPhone app development in house; but the market is growing so rapidly for iPhone and smartphones, that the opportunity cannot be foregone. That is where a mobile app development company comes into picture.

There are so many businesses chasing the same goal of finding the right outsourcing partner who can help them create the most comprehensive apps for iPhone. On the other hand, there are so many companies promising to be a quality mobile app development company. There is demand and there is supply; how do you ensure quality amongst all this noise?

Here is a comprehensive guide to help you find the best IOS app developer:

1. Do not let the budget guide all your decisions in the process.

Yes, it is important for businesses to be as efficient as possible when it comes to expenses. That is where most of the businesses make a mistake – they treat IOS app development outsourcing as an expense. Anything that bears the logo of your brand and becomes a general point of interaction with your target consumer can never be treated as a mere expense. It becomes an investment the moment it becomes a part of the user’s journey. This is an investment which will fetch you return that can actually be measured using Net Promoter Score and many other metrics.

It seems worthwhile to hire an independent developer who will do all the coding for you at a rate of peanuts; but then, who will take care of your app’s design, security and testing? This is why you need a mobile app development company and not just an independent freelancer. The moment you start treating your IOS app development as an investment and not an expense, you will start seeing everything in a different light.

2. Analyse your prospective developers’ portfolio.

It is not just about looking at the size of projects they have handled but exactly what projects they have handled! There are many mobile app development companies out there working in numerous verticals. You need a company which understands not only your technical requirements but your business as well. This can only work with companies who have experience of having worked with your industry or with the companies who show the effort to learn about your business and don’t just stick to the technical briefs.

3. Look for their client references.

Good IOS app developers wear their previous work like their badge of honour. You should get in touch with their previous clients and try understanding the entire system of running a process with your- about to be developers. You will discover many nuanced as well as generic details about your developer, which you otherwise wouldn’t have known. If your developer does not want you to reach out to their clients, it’s already a red-flag.

4. Check the tools and processes they use.

Many companies only act as mediators and outsource your work to other smaller companies. The problem with such partnerships is that you don’t get the value worth your investment and the iteration processes are extremely long. That is why you do not want to partner with the middlemen. This is why you should understand how does your developer actually run its process of development. Offshoring within the same company is fine, in fact cost effective. Hence, know all the tools and processes of your about-to-be developer. The process will also help you know what all services can you expect from your developer – UX research, design, programming, testing and so on.

5. Build an actively-managed relationship with your developer.

This is probably the most imperative of all points here. Do not let it become a relationship of deliverables and payments. Instead, make it a relationship where both of you understand each other’s strengths and requirements. This can be done by having frequent and transparent communication in place, paired with the right amount of trust in each other’s abilities.