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	<title>Kreyon Systems &#124; Blog  &#124; Software Company &#124; Software Development &#124; Software Design &#187; Software Companies</title>
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		<title>How to Build a High-Performance Remote Software Development Team</title>
		<link>https://www.kreyonsystems.com/Blog/how-to-build-a-high-performance-remote-software-development-team/</link>
		<comments>https://www.kreyonsystems.com/Blog/how-to-build-a-high-performance-remote-software-development-team/#comments</comments>
		<pubDate>Wed, 31 Jul 2024 09:48:02 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Artificial intelligence]]></category>
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		<category><![CDATA[Software Companies]]></category>
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		<category><![CDATA[Remote Software Development]]></category>
		<category><![CDATA[Software Development Team]]></category>

		<guid isPermaLink="false">https://www.kreyonsystems.com/Blog/?p=4415</guid>
		<description><![CDATA[<p>In the world driven by algorithms and data, building a high-performance remote software development team is not just a trend but a necessity. With the rise of global talent pools and the evolution of work-from-home models, companies are increasingly turning to remote teams to drive innovation and achieve competitive advantages. But how do you build [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/how-to-build-a-high-performance-remote-software-development-team/">How to Build a High-Performance Remote Software Development Team</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p><img class="alignnone size-full wp-image-4416" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2024/08/Remote_Team_i.png" alt="Remote Software Development" width="736" height="709" /><br />
In the world driven by algorithms and data, building a high-performance remote software development team is not just a trend but a necessity. With the rise of global talent pools and the evolution of work-from-home models, companies are increasingly turning to remote teams to drive innovation and achieve competitive advantages.<span id="more-4415"></span></p>
<p>But how do you build and maintain a remote software development team that not only meets but exceeds performance expectations?</p>
<p>This guide provides a comprehensive approach to creating a successful remote development team.</p>
<p><strong>The Remote Revolution: Why It Matters</strong></p>
<p>Remote work is not merely a response to global events; it’s a strategic advantage. According to a 2023 survey by Buffer, 97% of remote workers would like to continue working remotely, even if it’s only part-time.</p>
<p>Furthermore, a study by Gartner found that 48% of employees will work remotely post-pandemic, highlighting the importance of developing robust remote work strategies.</p>
<p>But creating a high-performance remote team isn’t just about having employees work from different locations; it’s about fostering collaboration, maintaining productivity, and ensuring team cohesion despite physical distances.</p>
<p>Here’s how you can build a top-notch remote software development team.</p>
<p><strong>1. Hire the Right Talent: Skills and Fit</strong></p>
<p>The foundation of any high-performance team is its members. When hiring for a remote software development team, focus on two key aspects: technical skills and cultural fit.</p>
<p><strong>Technical &amp; Niche Skills:</strong> Look for candidates with the necessary technical expertise and experience. For software development, this includes proficiency in relevant programming languages, tools, and methodologies.</p>
<p>Conduct thorough technical interviews and coding assessments to evaluate these skills.</p>
<p><strong>Cultural Fit:</strong> Remote work requires self-discipline and excellent communication skills. Assess candidates’ ability to work independently and their comfort with asynchronous communication.</p>
<p>Behavioral interviews and reference checks can provide insights into how well candidates will adapt to remote work.</p>
<p><strong>Customer Support, Research &amp; Development:</strong> Many teams work with remote software teams for business functions like customer support, new product research and development etc.</p>
<p>The joint research and development initiatives can be carried out with remote teams to accelerate growth and innovation.</p>
<p>A 2022 LinkedIn report highlights that 71% of companies that prioritize cultural fit in their hiring process see higher employee satisfaction and retention rates.</p>
<p>This indicates that selecting the right candidates is crucial for building a cohesive and productive remote team.</p>
<p><strong>2. Clarity of Expectations<br />
<img class="alignnone size-full wp-image-4417" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2024/08/Software_Development_Team.jpg" alt="Remote Software Development" width="800" height="656" /><br />
</strong></p>
<p>Effective communication is the cornerstone of remote work success. Without face-to-face interactions, it’s essential to establish clear and efficient communication channels.</p>
<p><strong>Choose the Right Tools:</strong> Invest in reliable communication tools for instant messaging, video meetings, and for project management.</p>
<p>Ensure these tools are integrated and accessible to all team members. Choose collaboration tools that suit your team&#8217;s needs and preferences.</p>
<p><strong>Set Communication Norms:</strong> Define how and when team members should communicate. Establish regular check-ins, daily stand-ups, and weekly review meetings to keep everyone aligned.</p>
<p>Encourage the use of video calls for important discussions to enhance engagement and reduce misunderstandings.</p>
<p>One of the caveats for remote teams is over communication and spending too much time on calls, it can hamper performance adversely. Strike the right balance to ensure top performance.</p>
<p>A 2023 study by Harvard Business Review found that teams using a mix of synchronous (real-time) and asynchronous communication tools experienced a 30% increase in productivity compared to those relying solely on one mode of communication.</p>
<p><strong>3. Foster Collaboration &amp; Knowledge Culture</strong></p>
<p><iframe src="https://www.youtube.com/embed/5GMZyT25fos" width="100%" height="375" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>Building a collaborative culture is critical for remote teams. The absence of physical proximity can lead to feelings of isolation and disconnection, which can impact team morale and performance.</p>
<p><strong>Promote Inclusivity:</strong> Ensure that all team members, regardless of location, have equal opportunities to contribute and participate. Encourage open discussions and solicit feedback from everyone.</p>
<p><strong>Organize Virtual Team-Building Activities:</strong> Plan regular virtual team-building exercises, such as online games, trivia contests, or virtual coffee breaks. These activities help build rapport and strengthen team bonds.</p>
<p><strong>Encourage Knowledge Sharing:</strong> Create platforms for team members to share their expertise and experiences. Internal wikis, knowledge bases, and regular knowledge-sharing sessions can facilitate continuous learning and collaboration.</p>
<p><strong>4. Outcome Oriented Approach<br />
<img class="alignnone size-full wp-image-4418" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2024/08/Software_Development_T.jpg" alt="Remote Software Development" width="736" height="502" /><br />
</strong></p>
<p>Focusing on the right outcomes for a project is vital for the success of remote software development teams. Without physical oversight, managing projects requires a disciplined and organized approach.</p>
<p><strong>Define Clear Outcomes and Milestones:</strong> Establish clear project goals, deadlines, and deliverables. Break down larger projects into manageable tasks and set milestones to track progress.</p>
<p><strong>Use Agile Methodologies:</strong> Agile methodologies, such as Scrum or Kanban, are well-suited for remote teams. These approaches promote iterative development, regular feedback, and flexibility, making them ideal for managing remote projects.</p>
<p><strong>Monitor Progress and Performance:</strong> Use project management tools to track progress and identify potential issues early. Regularly review team performance and project outcomes to ensure that objectives are met.</p>
<p><strong>5. Offer Flexibility &amp; Balance</strong></p>
<p>Supporting work-life balance is essential for maintaining a high-performance remote team. Remote work can blur the lines between personal and professional life, leading to burnout if not managed properly.</p>
<p><strong>Encourage Flexibility:</strong> Offer flexible working hours to accommodate different time zones and personal schedules. Allow team members to set their own working hours within reasonable limits.</p>
<p><strong>Promote Healthy Boundaries:</strong> Encourage team members to set boundaries between work and personal life. Regularly remind them to take breaks, use vacation time, and avoid overworking.</p>
<p><strong>Provide Wellness Resources:</strong> Offer access to wellness programs, mental health resources, and ergonomic support. Investing in your team’s well-being can lead to increased satisfaction and productivity.</p>
<p>A 2023 study by FlexJobs found that 73% of remote workers consider work-life balance to be the most significant factor in job satisfaction. Supporting your team’s well-being can result in higher engagement and reduced turnover.</p>
<p><strong>6. Challenges in Remote Software Development<br />
<img class="alignnone size-full wp-image-4419" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2024/08/Remote_Software_Team.png" alt="Remote Software Development" width="740" height="628" /><br />
</strong></p>
<p>The rise of remote work has revolutionized the software development industry. While it offers numerous benefits, such as increased flexibility and access to a global talent pool, it also presents unique challenges.</p>
<p>Mitigating the complexities that remote software development teams requires planning and a methodical approach.</p>
<p><strong>Implement Strong Security Protocols:</strong> Use encryption, secure access controls, and VPNs to protect sensitive information.</p>
<p><strong>Conduct Regular Security Training:</strong> Provide training for remote team members on best practices for maintaining cybersecurity.</p>
<p><strong>Monitor and Audit:</strong> Regularly monitor and audit remote access and security practices to identify and address potential vulnerabilities.</p>
<p><strong>Standardize Testing Procedures:</strong> Develop and document standardized testing procedures to ensure consistency across the team for maintaining high quality of work.</p>
<p><strong>Adapt Communication Styles:</strong> Be mindful of cultural differences in communication styles and adjust accordingly to foster a respectful and inclusive environment.</p>
<p><strong>7. Measure and Optimize Performance</strong></p>
<p>Continuous improvement is key to maintaining a high-performance remote team. Regularly assess team performance and make necessary adjustments to enhance productivity and collaboration.</p>
<p><strong>Collect Feedback:</strong> Regularly gather feedback from team members on communication, project management, and overall satisfaction.</p>
<p>Use surveys, one-on-one meetings, and team reviews to understand their perspectives. Provide constructive feedback and set goals for improvement.</p>
<p><strong>Analyze Performance Metrics:</strong> Define relevant metrics to measure team success. Track key performance indicators (KPIs) such as project completion rates, bug rates, and client satisfaction.</p>
<p>Use this data to identify areas for improvement and optimize processes.</p>
<p><strong>Adapt and Evolve:</strong> Be open to making changes based on feedback and performance data. Continuously refine your remote work practices to better meet the needs of your team and clients.</p>
<p>Encourage a culture of learning and adaptation.</p>
<p><strong>Conclusion</strong></p>
<p>Building a high-performance remote software development team requires a strategic approach to hiring, communication, collaboration, project management, and employee well-being.</p>
<p>Remember, the success of your remote team hinges on the ability to adapt and evolve in response to changing needs and challenges. Embrace the remote work revolution and harness the power of a high-performance team to drive innovation and success.</p>
<p>Kreyon Systems offers top-tier <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://www.kreyonsystems.com" target="_blank">remote software development services</a></span> to accelerate growth, innovation and profitability for your business. If you have any queries, please contact us.</p>
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		<title>ERP Software Development: How to Maximize Value from ERP Software Implementation</title>
		<link>https://www.kreyonsystems.com/Blog/erp-software-development-how-to-maximize-value-from-erp-software-implementation/</link>
		<comments>https://www.kreyonsystems.com/Blog/erp-software-development-how-to-maximize-value-from-erp-software-implementation/#comments</comments>
		<pubDate>Wed, 08 Jul 2020 13:00:23 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[ERP]]></category>
		<category><![CDATA[Software Companies]]></category>
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		<description><![CDATA[<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/erp-software-development-how-to-maximize-value-from-erp-software-implementation/">ERP Software Development: How to Maximize Value from ERP Software Implementation</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
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		<title>8 Best Practices for Cloud Software</title>
		<link>https://www.kreyonsystems.com/Blog/8-best-practices-for-cloud-software/</link>
		<comments>https://www.kreyonsystems.com/Blog/8-best-practices-for-cloud-software/#comments</comments>
		<pubDate>Mon, 27 Jan 2020 10:38:05 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Cloud Computing]]></category>
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		<title>Office Automation Software</title>
		<link>https://www.kreyonsystems.com/Blog/office-automation-software/</link>
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		<pubDate>Tue, 26 Nov 2019 12:26:37 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Software Companies]]></category>
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		<title>Custom Software Development : 8 Tips to Ensure Successful Implementation</title>
		<link>https://www.kreyonsystems.com/Blog/custom-software-development-8-tips-to-ensure-successful-implementation/</link>
		<comments>https://www.kreyonsystems.com/Blog/custom-software-development-8-tips-to-ensure-successful-implementation/#comments</comments>
		<pubDate>Mon, 04 Nov 2019 14:12:10 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Software Companies]]></category>
		<category><![CDATA[Software Product Development]]></category>
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		<title>9 Qualities of Top Software Developers</title>
		<link>https://www.kreyonsystems.com/Blog/9-qualities-of-top-software-developers/</link>
		<comments>https://www.kreyonsystems.com/Blog/9-qualities-of-top-software-developers/#comments</comments>
		<pubDate>Fri, 18 Oct 2019 12:31:54 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Offshore Software Development]]></category>
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		<description><![CDATA[<p>What makes a world class software developer? Well, there are plenty of ways you can gauge the qualities of a software developer. It is a topic that opens itself for arguments. We take a pragmatic approach to assess and study the qualities that make a top software developer. A good software engineer must be able [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/9-qualities-of-top-software-developers/">9 Qualities of Top Software Developers</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
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				<content:encoded><![CDATA[<figure id="attachment_2550" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2550" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/software-developers.png" alt="software Developers" width="700" height="400" /><figcaption class="wp-caption-text">software Developers</figcaption></figure>
<p><span style="font-weight: 400;">What makes a world class software developer? Well, there are plenty of ways you can gauge the qualities of a software developer. It is a topic that opens itself for arguments. We take a pragmatic approach to assess and study the qualities that make a top software developer.</span></p>
<p><span id="more-2553"></span></p>
<p><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">A good software engineer must be able to produce working software, write readable code, be able to fix bugs in legacy code, be a team player, keep up-to-date with new technologies etc. Our study of software developer attributes covers over 100 projects that caters to over 150,000 users. Here’s what we found: </span></p>
<p><b>1. Passion for Learning</b></p>
<figure id="attachment_2549" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2549" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/learning.png" alt="Passion for Learning" width="700" height="400" /><figcaption class="wp-caption-text">Passion for Learning</figcaption></figure>
<p>The passion for learning separates the top software developers from others. These developers understand what they are doing, they dig deep to uncover the concepts, and know the ins and outs of code.</p>
<p><span style="font-weight: 400;">It is easy to get the code running, but it takes time to master the concepts, drill down deep into the technology stuff. But this is what makes the difference. The top software engineers are able to build products that scale, they understand the architecture, design, optimise code and write top quality programs.</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">They are passionate about learning and do everything to master what they are doing. In the process, they do quality work that helps them and their companies create better software solutions.</span></p>
<p><b>2. Adaptable &amp; Flexible</b></p>
<p><span style="font-weight: 400;">Software programming can be unpredictable. Great software engineers understand that business requirements may change anytime and they may need to confront unknown challenges. They are ready to adapt and are flexible.</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">A great developer has a knack of producing his best work when the situation demands it. They refactor code and reengineer things to meet the needs of the clients and business. </span></p>
<p><span style="font-weight: 400;">They are also always on the look out to make things better proactively. Ordinary developers fix things when they break, top developers fix things before it affects the users.</span></p>
<p><b>3. Team Player</b></p>
<figure id="attachment_2551" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2551" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/team-player.png" alt="team player" width="700" height="400" /><figcaption class="wp-caption-text">team player</figcaption></figure>
<p>Software developer is a team sport. The better you coordinate with your team, the more you can excel at your job. Software engineers need to work with top focus to produce quality work, but they know and learn to communicate with others.</p>
<p>They coordinate with other developers, designers, content writers etc. to produce quality work. These developers are also good at adding value for others. They do code reviews, help others write better code, provide suggestions for improvement of the overall project &amp; always focused on the bigger picture to make the project successful.</p>
<p>These software developers offer help to their teammates when things are stuck, learn new skills &amp; share their learnings with others as well.</p>
<p><b>4. Test Driven Development</b></p>
<p>Software programs can be very hard to debug, especially when you&#8217;re dealing with legacy code. It takes time to resolve, debug and fix code. Many a times, programmers may add more bugs than they fix.</p>
<p>Test driven development allows software engineers to write test cases for their development work. So, for every new functionality that is added to the code, they build test cases to check the functionality. This becomes even essential in the agile driven software world today.</p>
<p><span style="font-weight: 400;">Programmers have to write code almost on a daily basis that gets shipped for customers. Writing code without proper test cases can leave many gaps. Developers who can write test cases for the features they build can write higher quality code.</span></p>
<p><b>5. Good Under Pressure</b></p>
<figure id="attachment_2552" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2552" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/underpressure.png" alt="good under pressure" width="700" height="400" /><figcaption class="wp-caption-text">good under pressure</figcaption></figure>
<p><span style="font-weight: 400;">Software programming can be a demanding job, especially when you’ve got hard deadlines to meet. Software professionals need to constantly meet deadlines, fix critical bugs and improvise as per changing technology needs.</span></p>
<p>As a programmer, it can be stressful to manage these changes and keep producing top quality work. A good developer learns to manage his time to write quality code, create innovative solutions and is ready to handle the unexpected challenges.</p>
<p><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">The good developers are like saviours for their teams in a crunch situation. They not only do quality work, but their presence lifts others and helps them achieve their targets too. These programmers train themselves to deliver under pressure and know how to get the best out of themselves.</span></p>
<p><b>6. Tools &amp; Technologies</b></p>
<p><span style="font-weight: 400;">One of the most challenging aspects of being a software developer is to be up to date with the latest tools and technologies. While it takes lot of discipline, focus and hard work to master skills, you need to constantly update yourself with the changing technology landscape.</span></p>
<p><span style="font-weight: 400;">Top software developers are aware of the latest tools and technologies. They devote regular time to learn about new skills relevant to their craft and practice deliberate improvement. </span><span style="font-weight: 400;"><br />
</span></p>
<p><span style="font-weight: 400;">These developers don’t reinvent the wheel and know which tools can make their job easy. By using existing libraries and tools, they devote more time for innovative work that sets their standards higher than others. </span></p>
<p><b>7. Creative Solutions</b></p>
<figure id="attachment_2547" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2547" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/creative-solutions.png" alt="creative solutions" width="700" height="400" /><figcaption class="wp-caption-text">creative solutions</figcaption></figure>
<p><span style="font-weight: 400;">Great software programmers provide comprehensive solutions for their clients. They build creative solutions that resolve pain problems for customers. They know the customer environment, familiarize themselves with users and produce innovative solutions.</span></p>
<p>More often than not these developers think out of the box and find better solutions than existing ones. It is the quality of solutions, thought process and execution that makes them valuable.</p>
<p><b>8. Time Assessment: </b><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">Programming requires skills beyond logic. Many a times, software developers are confronted with hard tasks, which are new to them. A good developer is able to give an accurate timeline for his deliverables. Whether it is the clients or the internal teams, the right time estimates are important to get things moving.</span></p>
<p><span style="font-weight: 400;">These programmers are reliable. They finish off their deliverables within time and budget almost always. In case, when they have to go over time, they give reasonable explanations to back their case too.</span><span style="font-weight: 400;"><br />
<b></b></span></p>
<p><span style="font-weight: 400;"><b>9. Debugging &amp; Architecture</b><br />
</span></p>
<figure id="attachment_2548" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-2548" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/10/debugging-architecture.png" alt="debugging architecture" width="700" height="400" /><figcaption class="wp-caption-text">debugging architecture</figcaption></figure>
<p><span style="font-weight: 400;">One of the hardest things you have to master as a programmer is debugging. It involves working with legacy codebase, fixing bugs with high reliability and improving things by refactoring(redesigning of code with good architecture). Good programmers are excellent at debugging not just their own code, but others too.</span></p>
<p><span style="font-weight: 400;">These developers also build a solid understanding of software architecture and design principles. The architectural understanding of codebase helps them develop scalable solutions. It can be very hard to maintain software code that is not written well. But these software developers learn to create code that is maintainable, scalable and easy for others too.</span></p>
<p><span style="font-weight: 400;">Kreyon Systems provides excellent opportunities for </span><a href="https://www.kreyonsystems.com/VacanciesList.aspx"><span style="font-weight: 400;">software developers</span></a><span style="font-weight: 400;"> to build innovative products &amp; solutions. If you are looking for an excellent software development team to build your software products or services, please reach out to us.</span></p>
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		<title>Staffing Application Software for Human Resource Management</title>
		<link>https://www.kreyonsystems.com/Blog/staffing-application-software-for-human-resource-management/</link>
		<comments>https://www.kreyonsystems.com/Blog/staffing-application-software-for-human-resource-management/#comments</comments>
		<pubDate>Sat, 31 Aug 2019 12:02:18 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
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		<title>7 Lessons to Grow a SaaS company</title>
		<link>https://www.kreyonsystems.com/Blog/7-lessons-to-grow-a-saas-company/</link>
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		<pubDate>Tue, 30 Jul 2019 13:35:32 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
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		<title>10 Must have features for Accounting Software</title>
		<link>https://www.kreyonsystems.com/Blog/10-must-have-features-for-accounting-software/</link>
		<comments>https://www.kreyonsystems.com/Blog/10-must-have-features-for-accounting-software/#comments</comments>
		<pubDate>Sat, 15 Jun 2019 13:26:18 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Software Companies]]></category>
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		<guid isPermaLink="false">https://www.kreyonsystems.com/Blog/?p=1899</guid>
		<description><![CDATA[<p>Accounting software is a basic and primary need for every business organisation. The accounting solutions provide very useful pointers and insights into the operations of a business. Accounting software can make a huge difference to the way a business functions. It is the fundamental tool for assessing the financial health of the company, meeting compliance [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/10-must-have-features-for-accounting-software/">10 Must have features for Accounting Software</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
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				<content:encoded><![CDATA[<figure id="attachment_1900" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1900 size-full" title="Features for accounting software" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/features-for-Accounting-Software.jpg" alt="Features for accounting software" width="700" height="400" /><figcaption class="wp-caption-text">Features for accounting software</figcaption></figure>
<p><span style="font-weight: 400;">Accounting software is a basic and primary need for every business organisation. The accounting solutions provide very useful pointers and insights into the operations of a business. </span></p>
<p><span style="font-weight: 400;">Accounting software can make a huge difference to the way a business functions. It is the fundamental tool for assessing the financial health of the company, meeting compliance requirements and keeping track of the way capital is spent.</span></p>
<p><span id="more-1899"></span></p>
<p><span style="font-weight: 400;">A good accounting software can help you steer your business in the right direction with ease. It can provide you the most important insights on capital spent, expenses, bills and customers. It can help you automate invoicing, payment collection and most of the administrative tasks.</span></p>
<p><span style="font-weight: 400;">A lot of accounting solutions need you to be an expert at accounts. But a good accounting software helps even people without accounting background to operate things like a pro.</span></p>
<p>&nbsp;</p>
<p><span style="font-weight: 400;">Here are the top 10 key features every accounting software must have:</span></p>
<p><b>1. Reports and Analysis:</b></p>
<p><span style="font-weight: 400;">Information is powerful, when it is presented at the right time to the right people. The accounting software should be able to provide a quick overview of the financials. For e.g. profit and loss summarisation, key accounts receivables, payables, expenses and bills etc. </span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;">The accounting software should analyze the key aspects of business and present it to the management. The software provides quick information on any important and pending compliance issues, actions for financial activities, &amp; your business operations.</span></p>
<figure id="attachment_1904" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1904 size-full" title="Accounting Software Reports" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/Reports-and-Analysis.jpg" alt="Accounting Software Reports" width="700" height="400" /><figcaption class="wp-caption-text">Reports and Analysis</figcaption></figure>
<p><b>2. User authorisations &amp; Security :</b></p>
<p><span style="font-weight: 400;">Accounting data is quite sensitive. The way the application stores and accesses data is critical. The accounting software must be capable of high level security of the sensitive data. </span></p>
<p><span style="font-weight: 400;">Data should be confidential and if any data is tampered or lost, it should be able to provide a trail for all the actions. So, even if someone changes the data, the system has a trail for all activities to take corrective measures.</span></p>
<p><span style="font-weight: 400;">The </span><a href="https://www.kreyonsystems.com/Blog/data-security-measures-in-cloud/"><span style="font-weight: 400;">data security</span></a><span style="font-weight: 400;"> measures must be taken to foolproof information and accounts.</span></p>
<p>&nbsp;</p>
<p><b>3. Payment processing</b></p>
<p><span style="font-weight: 400;">Many accounting systems facilitate customers to pay their bills online. So, your accounting system can help you to collect customer payments and also make vendor payments online.</span></p>
<p><span style="font-weight: 400;">The accounting systems today provide very simple options for customers to make payments at the click of a button. It saves staff time, reduces administration issues and makes payment collection faster too. The online payments are also recorded automatically in the account books.</span></p>
<figure id="attachment_1903" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1903 size-full" title="Payment processing and Management" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/Payment-processing.jpg" alt="Payment processing and Management" width="700" height="400" /><figcaption class="wp-caption-text">Payment processing</figcaption></figure>
<p><b>4. Opening Balances &amp; Migration</b></p>
<p><span style="font-weight: 400;">The prerequisite of any good accounting software is to provide an easy way to migrate data. Whether you’re using any software or doing your accounts manually, you should be able to switch to the new accounting solution with complications.  </span></p>
<p><span style="font-weight: 400;">The software should provide a way to import account payables, receivables, inventory, assets, liabilities, income &amp; expenses etc with an integrated interface. A one time upload of these account balances should set the system up and running for you.</span></p>
<p><b>5. Interoperability with Business Functions</b></p>
<p><span style="font-weight: 400;">Accounting software is not standalone, it needs to work well with lot of business functions. So, you can have your employee, HR, payroll, CRMs, sales, shipping, inventory integrated into one system.</span></p>
<p><span style="font-weight: 400;">A top accounting product will take care of all your business functions and leverage data from various sources as per the needs be. The accounting system should also be interoperable with other systems.</span></p>
<p><span style="font-weight: 400;">The migration of data files from other systems and databases should easily plug into your accounting software. The software should provide ways to import and export the accounting data. The systems should work without any complications for end users who are not accounting or software experts.</span></p>
<figure id="attachment_1901" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1901 size-full" title="Accounting Software Interoperability" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/Interoperability.jpg" alt="Accounting Software Interoperability" width="700" height="400" /><figcaption class="wp-caption-text">Interoperability with Business Functions</figcaption></figure>
<p><b>6. Design solutions:</b></p>
<p><span style="font-weight: 400;">Every business needs to minimise the time it spends for organising its operations and compliance. Accounting softwares are now capable of providing designs that solve problems for users. So, if you are looking to create a balance sheet, profit &amp; loss or cashflow report for your business, you don’t have to wait for the accountant.</span></p>
<p><span style="font-weight: 400;">The software provides powerful tools used for representation of the key information. It is also built to cover the most important needs for your business to meet the compliance needs.</span></p>
<p><b>7. Invoice &amp; payments collection</b></p>
<p><span style="font-weight: 400;">A good accounting software will be able to create a great brand impression for your company. It will provide you customisable options for creating invoices with great look and feel. At the same time, it will provide you options for collecting online payments.</span></p>
<p><span style="font-weight: 400;">When money is owed to your business, the invoicing module allows you to set reminders and send them to clients. You will get to know the summary of payments owed to you, customer statements, reminders etc.</span></p>
<p>&nbsp;</p>
<p><span style="font-weight: 400;">These systems will allow you to print invoices with custom designed templates, print or send them to customers electronically and receive payments online.</span></p>
<p><span style="font-weight: 400;">The customer data, addresses, account numbers, starting balances and standard terms of agreements are all maintained by the software. You can also choose to create quick invoices using existing ones with minor modifications etc.</span></p>
<figure id="attachment_1902" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1902 size-full" title="Invoice Management" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/Invoice-processing.jpg" alt="Invoice Management" width="700" height="400" /><figcaption class="wp-caption-text">Invoice &amp; payments collection</figcaption></figure>
<p><b>8. HR &amp; Payroll</b></p>
<p><span style="font-weight: 400;">Payroll modules are integral components of accounting systems. These provide options to process salaries for employees, manage their trainings, projects, hourly rates, taxation and other compliances.</span></p>
<p><span style="font-weight: 400;">The modern accounting systems also provide automated biometric and QR code based options for attendance. The leave management, holidays, company calendar of events, notices etc can be managed through the accounting software.</span></p>
<p><b>9. Inventory &amp; Fixed Assets</b></p>
<p><span style="font-weight: 400;">Inventory &amp; fixed assets are critical for accounting needs. Accounting softwares have the ability to register fixed assets and compute depreciations etc for them. All costs incurred on fixed assets, their upto date track record, calculation of fair value and the dynamics of asset management are important for accounting.</span></p>
<p><span style="font-weight: 400;">Accounting solutions provide flexibility in choosing the depreciation methods as per the IAS or IFRS guidelines. Companies can select the ways they can derive maximum value from their fixed assets.</span></p>
<p><span style="font-weight: 400;">The inventory for products and services can also be maintained with online accounting systems. Whether it is tagging inventory items, verification, revaluation or costing etc, the accounting systems provide all these capabilities.</span></p>
<figure id="attachment_1905" style="width: 700px;" class="wp-caption alignnone"><img class="wp-image-1905 size-full" title="Inventory Management" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2019/06/Search-Tools.jpg" alt="Inventory Management" width="700" height="400" /><figcaption class="wp-caption-text">Inventory Management</figcaption></figure>
<p><b>10. Reports &amp; Compliance</b></p>
<p><span style="font-weight: 400;">Every organisation needs to submit compliance reports to government. The accounting solution must be able to generate the reports as per the company location and regulatory needs.</span></p>
<p>&nbsp;</p>
<p><span style="font-weight: 400;">The accounting solution should help the company to maintain its compliance, mark important dates and generate all reports as per the government regulations. </span><span style="font-weight: 400;"><br />
</span></p>
<p><span style="font-weight: 400;">Accounting data can also be used for deriving important insights about business operations. The accounting systems can also predict and provide insights for critical business functions, budgeting and planning by analysing data.</span></p>
<p><span style="font-weight: 400;">These systems can provide important inputs for budgeting, estimating, and costing functions for organisations.</span></p>
<p><b>Conclusion</b></p>
<p><span style="font-weight: 400;">Choosing the right accounting software can make your business operations smoother and more effective. Kreyon Systems has vast experience building accounting and financial software solutions. If you are looking for accounting software, please get in touch with us.</span></p>
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		<title>How Software Development Is Helping Women Around The World</title>
		<link>https://www.kreyonsystems.com/Blog/how-software-development-is-helping-women-around-the-world/</link>
		<comments>https://www.kreyonsystems.com/Blog/how-software-development-is-helping-women-around-the-world/#comments</comments>
		<pubDate>Fri, 28 Sep 2018 13:22:52 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
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		<guid isPermaLink="false">https://www.kreyonsystems.com/Blog/?p=1578</guid>
		<description><![CDATA[<p>Culture, history, and business like to genderize. But software is neither male nor female. It’s just instructions that help get a job done. Companies, organizations, and individuals have been using software to help address the gender imbalance felt across the globe. Below I’ve explained how software development is helping women around the world. Software companies [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/how-software-development-is-helping-women-around-the-world/">How Software Development Is Helping Women Around The World</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
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				<content:encoded><![CDATA[<figure id="attachment_1580" style="width: 700px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/how_software_development_helping_women.jpg"><img class="size-full wp-image-1580" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/how_software_development_helping_women.jpg" alt="how_software_development_helping_women" width="700" height="500" /></a><figcaption class="wp-caption-text">how_software_development_helping_women</figcaption></figure>
<p><span style="font-weight: 400;">Culture, history, and business like to genderize. But software is neither male nor female. It’s just instructions that help get a job done.</span></p>
<p><span style="font-weight: 400;">Companies, organizations, and individuals have been using software to help address the gender imbalance felt across the globe.</span></p>
<p><span id="more-1578"></span></p>
<p>Below I’ve explained how software development is helping women around the world.</p>
<p><b>Software companies improving access to education for women</b></p>
<figure id="attachment_1581" style="width: 700px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/Software-companies-improving-access-to-education-for-women.jpg"><img class="size-full wp-image-1581" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/Software-companies-improving-access-to-education-for-women.jpg" alt="Software-companies-improving-access-to-education-for-women" width="700" height="500" /></a><figcaption class="wp-caption-text">Software-companies-improving-access-to-education-for-women</figcaption></figure>
<p><span style="font-weight: 400;">Since 1972, US federal law demands that women and girls receive the same education opportunities as men and boys. While this has helped to bridge (but not close) the gap in the US, education still remains only a hope for women and girls in many countries. </span></p>
<p><a href="https://kreyonsystems.com"><span style="font-weight: 400;">Software companies</span></a><span style="font-weight: 400;"> are helping women around the world to turn hope into reality. One example of this is Intel’s </span><a href="https://www.intel.com/content/dam/www/public/us/en/documents/corporate-information/she-will-connect-exec-summary.pdf"><span style="font-weight: 400;">She Will Connect</span></a><span style="font-weight: 400;"> programme. Sub-Saharan Africa has the highest rate of educational exclusion of all the regions in the world. One out of every six girls between the age of 6 and 11 is not in school, with 60% of girls between 15 and 17 not having access to education.</span></p>
<p><span style="font-weight: 400;">She Will Connect harnesses the power of software to give girls access to education. It improves girls’ technological skills and their digital literacy. The goal is that Intel’s software will give 5 million women better educational opportunities by 2020</span><span style="font-weight: 400;">.</span></p>
<p><b>Access to software helps women to find jobs in the industry</b></p>
<figure id="attachment_1582" style="width: 700px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/software-help-women-access-to-job.jpg"><img class="size-full wp-image-1582" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/software-help-women-access-to-job.jpg" alt="software-help-women-access-to-job" width="700" height="500" /></a><figcaption class="wp-caption-text">software-help-women-access-to-job</figcaption></figure>
<p><span style="font-weight: 400;">Put simply, monoculture is bad for business. Workplaces with more men than women are unhealthy, less productive, and have lower revenue than those without a gender gap. The stats prove this: </span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Businesses in the top 25% of gender diversity will have higher returns than companies that employ less women </span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">The sales figures at companies who have three or more female directors are 42% higher than those who do not </span></li>
</ul>
<p>Despite this evidence, women remain severely underrepresented in the software industry. But there are a number of organizations working to address this.</p>
<p><span style="font-weight: 400;">Laboratoria tackles the problem of monoculture by training women from Latin America.</span><a href="http://www.mckinsey.com/insights/organization/why_diversity_matters"><span style="font-weight: 400;"> Already, Laboratoria has been able to help 580 women to get jobs in the software industry – in roles such as UX designers and front-end developers – in companies throughout Latin America.</span> </a></p>
<p><b>Social media software used as a weapon to end harassment</b></p>
<p><span style="font-weight: 400;">There were 118 years between New Zealand being the first country to grant women the vote and Saudi Arabia being one of the most high-profile countries to finally give women that right. Even if women around the world now have greater rights, there are still many battles to be had in the war to end female discrimination</span></p>
<p><span style="font-weight: 400;">Since 2011 Twitter has been perhaps the most public example of software being used as a weapon to help women end harassment: </span><span style="font-weight: 400;"><br />
</span></p>
<p><span style="font-weight: 400;">This movement has empowered the victims of sexual harassment across the globe since its virality on October 2017. Through the vocal support of celebrities such as Alyssa Milano, Ashley Judd, and Jennifer Lawrence, women have begun shifting attitudes in the workplace and taking down the perpetrators of female harassment</span></p>
<p><b>#meNOmore</b></p>
<p><span style="font-weight: 400;">Memes gave the battle for gender equality in music fresh impetus in 2015. Festival posters with the male artists removed, exposing the gender disparity of the lineups, screamed across the internet:</span></p>
<p><span style="font-weight: 400;">In response to this, hundreds of Australian women have signed an open letter demanding that sexual discrimination, harassment, and assault is wiped from the music industry.</span></p>
<p><span style="font-weight: 400;">Featuring artists such as Camp Cope, Courtney Barnett, and The Veronicas, the movement has taken the hashtag #meNOmore to push the message</span></p>
<p><b>Ecommerce software helps tackle the gender imbalance</b></p>
<p>&nbsp;</p>
<figure id="attachment_1579" style="width: 700px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/ecommerce_software.jpg"><img class="size-full wp-image-1579" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/ecommerce_software.jpg" alt="Ecommerce_software_helps_tackle_the_gender_imbalance " width="700" height="500" /></a><figcaption class="wp-caption-text">Ecommerce_software_helps_tackle_the_gender_imbalance</figcaption></figure>
<p><span style="font-weight: 400;">Since the Nisiyama Onsen hot-spring hotel was opened in 705, businesses have been run by, fueled by, and compensated men. But as technology has advanced and business software has developed, women have taken to entrepreneurship. And </span><a href="http://www.cofcogroup.com/men-owned-businesses-vs-women-owned-businesses-are-there-differences/"><span style="font-weight: 400;">the stats confirm this</span></a><span style="font-weight: 400;">: </span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">There has been a 45% increase in US female-owned businesses since 2007, compared to an overall increase of 9% in all US businesses  </span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">American companies run by women have increased revenues by 35%, compared with a 27% increase in all American companies </span></li>
</ul>
<p><a href="https://kreyonsystems.com/ECommerce.aspx"><span style="font-weight: 400;">Ecommerce</span></a><span style="font-weight: 400;"> has been leading the charge in making talent, not gender, the driver of entrepreneurial success. Software has played a huge part in this charge.</span></p>
<p>&nbsp;</p>
<figure id="attachment_1583" style="width: 700px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/women_tend_to_like_pets.jpg"><img class="size-full wp-image-1583" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/women_tend_to_like_pets.jpg" alt="women_tend_to_like_pets" width="700" height="500" /></a><figcaption class="wp-caption-text">women_tend_to_like_pets</figcaption></figure>
<p><span style="font-weight: 400;">Pet stores are a popular niche among female entrepreneurs because women tend to like pets more than men.</span></p>
<p>Alongside niches like party planning and babycare, pets are one of the many ecommerce niches flooded with ambitious and software-savvy female entrepreneurs.</p>
<p><span style="font-weight: 400;">Of course, it’s not all kitty whiskers and puppy dog tails. </span><a href="https://www.thehrdirector.com/business-news/gender/women-ecommerce-ge/"><span style="font-weight: 400;">Women may be earning more than men in the ecommerce industry</span></a><span style="font-weight: 400;">, but there is still a very real gender pay gap. While software can continue to help reduce this, the disparity must be kept in the public eye and decisive steps taken to make business truly genderless.</span></p>
<p><b><i>Software is genderless. However, this hasn’t stopped it from being a force for good for women all across the world.  Show your support by contributing to one of the many organizations or businesses which uses software to help women. Or take advantage of software you need to found your own organization or business.</i></b></p>
<figure id="attachment_1584" style="width: 200px;" class="wp-caption alignnone"><a href="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/patrik-foster.jpg"><img class="size-full wp-image-1584" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/09/patrik-foster.jpg" alt="patrik-foster" width="200" height="200" /></a><figcaption class="wp-caption-text">patrik-foster</figcaption></figure>
<p><b>Patrick Foster</b><span style="font-weight: 400;"> is a writer and ecommerce expert from Ecommerce Tips — an industry-leading ecommerce blog dedicated to sharing business and entrepreneurial insights from the sector, along with updates in the tech, software, and media used to advance online business. Patrick is passionate about erasing gender inequality. Check out the latest news on Twitter </span><a href="https://twitter.com/myecommercetips"><span style="font-weight: 400;">@myecommercetips</span></a><span style="font-weight: 400;">.</span></p>
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		<title>How companies can become Digital Leaders</title>
		<link>https://www.kreyonsystems.com/Blog/how-companies-can-become-digital-leaders/</link>
		<comments>https://www.kreyonsystems.com/Blog/how-companies-can-become-digital-leaders/#comments</comments>
		<pubDate>Tue, 25 Sep 2018 10:16:58 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Digitization]]></category>
		<category><![CDATA[Software Companies]]></category>
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		<category><![CDATA[customer service]]></category>
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		<category><![CDATA[Manage Business with Automation & Digitisation]]></category>
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		<title>How Software Companies are powering Indian Economy</title>
		<link>https://www.kreyonsystems.com/Blog/how-software-companies-are-powering-indian-economy/</link>
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		<pubDate>Fri, 24 Aug 2018 14:11:30 +0000</pubDate>
		<dc:creator><![CDATA[Kreyon]]></dc:creator>
				<category><![CDATA[Software Companies]]></category>
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		<description><![CDATA[<p>The Information technology revolution has put India on the world map. The software services and products are fuelling the country’s economy and GDP like never before. India is now the sixth largest economy in the world by nominal GDP and third largest by purchasing power parity. In 2018, India’s economy became the world’s fastest growing [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.kreyonsystems.com/Blog/how-software-companies-are-powering-indian-economy/">How Software Companies are powering Indian Economy</a> appeared first on <a rel="nofollow" href="https://www.kreyonsystems.com/Blog">Kreyon Systems | Blog  | Software Company | Software Development | Software Design</a>.</p>
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				<content:encoded><![CDATA[<figure id="attachment_1538" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-1538" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/08/How-Software-Companies-are-powering-Indian-Economy.jpg" alt="How-Software-Companies-are-powering-Indian-Economy" width="700" height="400" /><figcaption class="wp-caption-text">How-Software-Companies-are-powering-Indian-Economy</figcaption></figure>
<p><span style="font-weight: 400;">The Information technology revolution has put India on the world map. The software services and products are fuelling the country’s economy and GDP like never before. </span></p>
<p><span style="font-weight: 400;">India is now the sixth largest economy in the world by nominal GDP and third largest by purchasing power parity. In 2018, India’s economy became the world’s fastest growing major economy surpassing China as per International Monetary Fund (IMF).</span></p>
<p><span id="more-1535"></span></p>
<p><span style="font-weight: 400;">The IT or software industry contributes nearly eight percent of the total Indian GDP as of 2018. Two decades ago in 1998, the total contribution was 1.2 percent. </span></p>
<p><span style="font-weight: 400;">As per the report from IBEF, the IT Services sector in 2018 accounts for $86 billion in revenue. The total revenue is pegged at $170 billion dollars. Clearly, the growth indicates a big push for Indian software products and services companies.</span></p>
<p><b>Brief History</b></p>
<figure id="attachment_1537" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-1537" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/08/Brief-History.jpg" alt="Brief-History" width="700" height="400" /><figcaption class="wp-caption-text">Brief-History</figcaption></figure>
<p><span style="font-weight: 400;">It may be recalled that Indian IT Services industry was born in Mumbai in 1967 with a Tata group company. The first export zone was set up in SEEPZ, Mumbai. Today, India has many modern IT parks which rank among the very best in the world. </span></p>
<p><span style="font-weight: 400;">There were companies like TCS, Patni computer systems, Infosys, Wipro, HCL, that powered Indian software services industry in the eighties and nineties to build a phenomenal story of ambition and growth. </span></p>
<p><span style="font-weight: 400;">The Indian IT industry has come a long way from its early days and now earns over $170 billion in revenue with a presence in more than 80 countries. </span></p>
<p><span style="font-weight: 400;">The emerging technologies and digitisation of industries are now powering more Indian companies to greater heights. With the push for digitisation across businesses and industries, the software industry in India may well be poised for its best years ahead.</span></p>
<p><span style="font-weight: 400;">The ecommerce boom and the digital revolution have already made some of these Indian companies earn the coveted Unicorn status. Companies like Flipkart, Ola, Paytm, Quikr etc have given new thrust to the Indian growth story. </span></p>
<p><span style="font-weight: 400;">The emerging technologies and software products in India are drawing major funds from venture capitalists around the world like Accel Partners, Helion Venture partners, Softbank, Sequoia Capital, Nexus Venture partners etc. </span></p>
<p><b>The Transition Phase</b></p>
<p>The software and technology industry is changing fast. Today artificial intelligence, machine learning, advanced analytics, mobility and cloud based technologies are driving the agenda for the software demand.</p>
<p><span style="font-weight: 400;">The obsolete models of the industry are no longer relevant in the modern world. The incumbents of the industry are trying to adapt to the new spectrum of technology. There is a resurgence of companies with fresh ideas, niche offerings and <a href="https://www.kreyonsystems.com/softwareproductdevelopment.aspx" target="_blank">software product development</a> expertise. </span></p>
<p><span style="font-weight: 400;">It is no longer big vs small but more about fast vs slow in the industry. Even smaller software companies have equal chances of grabbing the big deals and catapult themselves into global recognition.</span><span style="font-weight: 400;"><br />
</span><span style="font-weight: 400;"><br />
</span><b>Software Companies in demand</b></p>
<figure id="attachment_1539" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-1539" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/08/Indian-IT-Industry.jpg" alt="Indian-IT-Industry" width="700" height="400" /><figcaption class="wp-caption-text">Indian-IT-Industry</figcaption></figure>
<p><span style="font-weight: 400;">The </span><span style="color: #00ccff;"><em><a style="color: #00ccff;" href="https://www.kreyonsystems.com"><span style="font-weight: 400;">software companies</span></a></em></span><span style="font-weight: 400;">, which are catering to the market demand are growing and prospering in this dynamic industry. India is the topmost offshoring destination for IT companies in the world. </span></p>
<p><span style="font-weight: 400;">The software companies with intellectual properties or the right software products for a global scale and audience have a gamut of opportunities today. </span></p>
<p><span style="font-weight: 400;">The software products and intellectual property are key differentiators that are helpful in attracting the right push for scaling companies. The brand image of India in the software industry coupled with lucrative export opportunities are driving new companies. </span></p>
<p><span style="font-weight: 400;">The Indian software product startups have a great chance of making their presence felt on a global stage. The scale and reach is dictated by the quality and depth of the software products for the target markets.  </span></p>
<p><span style="font-weight: 400;">India is the digital capital of world with approximately 75% of the global digital talent as per IBEF. The Indian IT and </span><span style="color: #00ccff;"><em><a style="color: #00ccff;" href="https://www.kreyonsystems.com/BusinessProcessAutomation.aspx"><span style="font-weight: 400;">Business Process Automation</span></a></em></span><span style="font-weight: 400;"> &amp; Management industry is expected to grow to $350 billion by 2025.</span></p>
<p><b>The Road Ahead</b></p>
<figure id="attachment_1536" style="width: 700px;" class="wp-caption alignnone"><img class="size-full wp-image-1536" src="https://www.kreyonsystems.com/Blog/wp-content/uploads/2018/08/Sector-wise-break-up-of-Indian-IT-Market.jpg" alt="Sector-wise-break-up-of-Indian-IT-Market" width="700" height="400" /><figcaption class="wp-caption-text">Sector-wise-break-up-of-Indian-IT-Market</figcaption></figure>
<p><span style="font-weight: 400;">NASSCOM president says that the software industry is in the most exciting phase right now. The opportunities that lie ahead are unprecedented. </span></p>
<p><span style="font-weight: 400;">Debjani Ghosh, President, NASSCOM, remarks, “The most exciting thing about this industry right now and the sector right now is that we have, ahead of us, opportunities that we have never seen before.”</span></p>
<p><span style="font-weight: 400;">Debjani Ghosh further says, “Technology</span><span style="font-weight: 400;"> touches everything, it touches every single industry, it touches every single country, it is shaping not just the future and destiny of companies, but it is shaping the destiny of countries, of nations.</span><span style="font-weight: 400;">”</span></p>
<p><span style="font-weight: 400;">She adds, “</span><span style="font-weight: 400;">The need for technology services, technology solutions, and the need for IT to get integrated into your business strategy is tremendously high. We have never seen anything like this.</span><span style="font-weight: 400;">” </span></p>
<p><span style="font-weight: 400;">The software industry is typically driven by strong export demand and digitisation. There is also a constantly growing market for software within India. With the booming ecommerce and digital market, the industry may see continued growth for a long time. </span></p>
<p><b>Conclusion </b></p>
<p>The availability of wide talent pools for developing software remains India’s key strength. There is wide range of experience available in the industry and continual addition of engineering graduates further adds to the world class pool.</p>
<p><span style="font-weight: 400;"><span style="color: #00ccff;"><a href="https://www.kreyonsystems.com/digitisation.aspx" target="_blank">Digitisation</a></span> and digital disruptions are only multiplying India’s prowess as a global outsourcing destination of choice. Even small software and technology companies are growing rapidly and becoming instrumental in the Indian growth story. </span></p>
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