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Improving Employee Engagement with Modern HRMS Features

Kreyon — Mon, 09 Jun 2025 13:11:37 +0000

Improving Employee Engagement with Modern HRMS Features

Kreyon Systems offers an HRMS features designed to streamline HR operations and enhance employee engagement for businesses. This video illustrates how:

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8 Best Practices for Boosting Employee Engagement in IT

Kreyon — Tue, 16 Jan 2024 09:02:36 +0000

8 Best Practices for Boosting Employee Engagement in IT

Implementing these best practices requires a holistic approach that considers the unique dynamics of your IT company. Regularly assess the effectiveness of these strategies through employee feedback, surveys, and performance metrics to tailor your approach based on evolving needs.

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The Impact of Software Development in Europe

Kreyon — Mon, 08 Feb 2021 11:05:22 +0000

Software Development in Europe is shaping the economy of the continent like never before. It is adding jobs, employment, creating new industries and assisting the existing ones. Software is now at the heart of everything in Europe. As per EU report, software delivers a total value added GDP of €910 billion — over 7% of the EU29 total GDP. Software and its contribution to GDP comes from all sectors like farming, services, education, healthcare and manufacturing.

The EU is geared to take advantage of software for powering its economic recovery and growth in the next few years. The software industry contributes almost €1 trillion to the EU economy. It is generating high quality jobs for Europeans and helping them add 12 million jobs. Here’s a look at how software development in Europe is impacting governments, industries, individuals and SMBs to improve what they do, utilise resources more efficiently, make informed decisions & uncover greater value by leveraging technology.

1. Economic Contribution

The software delivers a total value-added GDP of €910 billion.This is a massive contribution to the GDP of Europe. The software industry directly contributes over €300 billion in Europe. The growing market size of software augurs well for the European economy. There is also a large scale impact of the indirect contribution with softwares. For e.g. the improvements in manufacturing, healthcare, governance etc. that lead to value addition in the economy. It is estimated that over annually over €600 billion are added to the EU economy by the indirect impact of the software industry.

The indirect impact of the software industry links the inter-industry economic activity. The indirects impact evaluates the impact arising on the economy and jobs due to the software industry. For e.g. the demand for professional services using software, the additional output measured in terms of revenue and jobs.

Software has revolutionised the way people work, communicate and spend their day. It has created a tangible difference to the fortunes of the world driven by technology in the aftermath of the pandemic. Software is driving the digital economy. It is one major reason the economy didn’t come to a standstill as people, industries and governments could operate from anywhere.

2. Digital Economy

In the competitive global space, digital innovations and economy have become a basic need. The EU has been able to leverage digital tools, software and forge its way forward in the era of the fourth industrial revolution impacting the world. Europe has been able to use software to deliver efficiency for the private and public sector.

From 2014 to 2020, European data consumption would have grown by a factor of ten — from 4.4 trillion gigabytes to 44 trillion. The digital universe of Europe is doubling every two years. Software is the key enabler to interpret this data, analyse and provide contextual insights to people to drive things with more efficiency in various sectors.

3. Direct & Indirect Job Creation

The software industry creates high paying, lucrative and quality jobs for Europeans. Every year more than 11.6 million people are employed in the software industry & its supporting jobs. This is more than the population of Belgium and around 5.3% of the total jobs in the EU.

While 3 million people are employed directly in software jobs, there are over 8.5 million jobs created for experienced professionals like lawyers, consultants, accounting personnel, marketing teams etc. The software industry provides high paying jobs with €45,333 as the average salary per employee. This is more than 35% higher than a regular job & 80% higher than a service sector job in the EU.

4. Transforming Old Industries

Software is transforming traditional industries around the world. It has been at the heart of change, helping old industries to transform with digital tools and techniques. The software industry is being used by healthcare providers for improving their diagnostics. The healthcare service providers are assisting with disease diagnostics and analysing data for their patients.

Software development in Europe is enabling cutting edge innovations for various sectors in Europe. Whether it is the energy sector, healthcare, agriculture or government, all these industries are using software to deliver services to their customers, making use of data for delivering user centric, scalable and efficient operations leveraging cloud technologies.

5. Research & Development

Software companies are focusing on research and development in the EU. In 2013, they invested €12.7 billion in R&D activities in the EU. This is more than 7.3% of the total research expenditure in the EU.

The research and development funds are being used for creating smarter software that is helping industries unleash greater value. For e.g. Italian luxury car maker Maserati uses software for developing its cars end to end. The entire product life cycle for the car maker is managed using software. The product modeling, quality control, manufacturing and distribution of the cars is done using softwares now.

Airbus uses software to drive its seating arrangement for maximising user space, reduce weights, improve fuel consumption and maximise safety for its passengers. The research spending of software companies is helping the EU with generation of jobs as well as maximising value for its companies.

6. Innovative World Class Startups

The world is increasingly driven by software companies and innovations. Many of the startups from the EU are now changing lives of people around the planet. They are creating mass impact and generating great value for their users. As per Sifted, EU has over 60 tech startups that are unicorns(companies valued over $1 billion) as of 2020. The EU has a booming startup space, next only to Silicon valley.

Software allows new business models for traditional industries, faster reach to consumers and build end to end seamless experience for customers. The EU market is the biggest single market that can be tapped with innovative SaaS products and services. Software development in Europe is transforming more industries & helping businesses leverage digital tools and technologies to expand their global horizons.

Kreyon Systems is a software development company in Europe with expertise in building end to end ERP, Finance & Accounting, CRM, Business Management, & other software products. If you need any assistance in implementation or have queries for us, please get in touch.

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10 Best Practices for SaaS Product Development

Kreyon — Wed, 23 Dec 2020 19:36:30 +0000

SaaS product development is an evolving art. It needs continuous learning, upgradation and application for building a market differentiated and enjoyable product for customers. The SaaS product itself is the biggest driver for its customer acquisition, retention and expansion. 80% of businesses already use at least one SaaS application.

As per Gartner, SaaS solutions will generate revenue of $105 billion in 2020. It is $20 billion more than what Gartner estimated just a year ago in 2019. The global pandemic has given a push to adoption of SaaS products and solutions. Building and developing new SaaS products is at an all time high. Here’s a look at the best practices for SaaS product development:

1. Working Backwards

Building the right product is more important than building the product right. Great SaaS products are day to day companions of their users. They serve a customer’s pain point and solve their needs. The best products are built when you understand the customer problem deeply enough and build a solution for it.

The working backwards approach starts with the customer first. The approach is used by leading companies for building new products as well as adding features to existing ones. Technology stack and implementation details are secondary aspects. The most important thing is the problem you’re solving for your customer.

Interact with customers who you think will buy your product and take feedback from them. Sometimes, by just asking their opinion and inputs, you can save time by not building the wrong product or features. Establishing the right product market fit will give you a higher probability of building a successful SaaS product.

2. Mobile First & Design First Approach

The consumerization of software products means rich experience for SaaS products, nothing less. The users today are constantly on the go, interconnected and demand great experiences from B2B or B2C SaaS products.

An integrated, interconnected and consistent user experience is now a basic necessity for a SaaS product. Companies like Slack, Dropbox, Amazon & Google are examples of product led companies that command respect from consumers. Customers wouldn’t usually want to install too many enterprise software apps, hence consistency and integrated experience matters a lot.

The users are looking for instant gratification & when a product involves a long learning cycle or complexity, customers give up. SaaS product development has to create hooks for the users. These hooks are able to help the users get started and accomplish things for them.

A mobile first and design first approach helps users navigate things intuitively. It develops an empathy for those who use the software and helps them operate it smoothly. The goal is to make the users see the results very early after logging into your SaaS product. The design mindset breaks down complexity of every customer interaction and helps them do more in less time.

3. Launch Frequently

Once your basic product requirements are established and approved, test your product with actual users. Get your customers on board and let them use your product. By launching your product frequently with incremental features, you could add more value in the long run.

Your speed to roll out value added features will create a difference for your product. When customers get access to a quality feature in 1 month, it helps them do more with the product than to wait for 6 months to get the same thing.

There is always a tradeoff between quality and timelines for features. A good SaaS development team strikes a good balance between delivery of the critical features and their quality. A lot of flexibility, rapid interactive development and constant communication with customers ensures a vetted SaaS product. Early feedback and experimentation is pivotal to building the right product that can engage the customers.

4. Product Prioritisation

An early stage SaaS product that tries to solve everything for everyone ends up solving nothing for anyone. Product priorities are the key to building the right SaaS product. The product development cannot be ruled by a couple of big customers. It can often derail the whole product roadmap.

SaaS development can be effectively carried out using RICE framework for prioritization of features. Adding too many features early on can confuse users and salespersons. Good positioning makes it easier for increasing SaaS product adoption. RICE is an acronym for Reach, Impact, Confidence and Effort. Here’s how it works:

i) Reach

Adding features can have no meaningful consequence if their reach is limited. Reach is simply the number of persons/customers who will use the feature in a given time period. For e.g. how many customers will be affected in a month by adding this feature? Simply put, if you have 500 customer sign-ups and 40% of them use a feature, your reach will be 500*40/100 = 200 customers per month.

ii) Impact

Impact can be hard to measure. So, we can use scores. Say, 3 for “Very high”, 2 for “high”, 1 for “medium”, 0.5 for “low”, and finally 0.25 for “minimal.”

Many features that are used by a high number of customers can create a high impact for a product. For e.g. if more than 90% of your customers are looking for a product feature, it will have a higher impact on the product compared to the feature demanded by 5% of your customers.

iii) Confidence

Not all ideas and features are good for the product. Confidence is a metric that can be used for choosing the right features. Confidence is expressed as a percentage. When you have relevant data, usage analytics and good user support for your features, the confidence level goes up.

Take for e.g. A feature with quantitative metrics for measuring reach, customer research for impact, and an engineering estimate for effort. This project gets a 100% confidence score. Suppose if the reach and impact are unknown, then the project would get a 50% confidence score.

iv) Effort

The overall efforts to implement an idea or a feature have a telling impact on the product success. The efforts are measured in person months. The effort for a feature addresses design, development and integration aspects into account.

For e.g. a feature may need 2 week of design efforts, 2 weeks of development & 2 weeks of testing & integration. The estimated time for this feature could say 2 person months. If a feature requires minimum effort of 1 week and no separate engineering efforts. It will have an effort of 0.5 person months.

The RICE tool takes all the above factors into account before zoning into the ideas. The organisations can evaluate the scores and pick the best ideas for implementation. The RICE score is calculated as (R*I*C)/E, the higher the score, the higher its priority for implementation.

5. The Amazon Approach

The most effective companies like Amazon, Google & Apple build processes for guiding their product development. The SaaS product development requires a pragmatic approach to create strong value for customers and the product development teams involved.

Your SaaS product development needs to get all stakeholders on the same page and develop a clarity for the following:

• Building For: Who are your target customers?
• Problem: What problem is your product solving?
• Who: Who are the people facing the problem that you solve?
• One line Description: Our product is a (describe the product or solution)
• Solution: Describe how your product solves the problem.
• Gaps: What are the existing problems faced by the customers?
• Differentiation: Our product/solution (key point of competitive differentiation)
• Gettings started: How easy is it to get started with your product?
• Close & call to action: Summarise and help users take action to get started.

Amazon also asks its managers to write down a press release for its new products. It helps them get an insight as to how customers would think and related to the products they’re building.

6. Next Generation Plan

A successful SaaS product has a long term vision for its customers. When Salesforce developed its CRM product, it not only introduced SaaS, but also introduced a vision and roadmap for its customers. It provided a complete ecosystem for its users and clients.

Your SaaS product development must be able to change, adapt, reinvent itself with the needs of the future. What will your product look like in the next 3 months? This may be an easier question to answer compared to- what will your product look in the next 3 years? Successful SaaS product companies answer both these questions with reasonable confidence.

Here is a look at some of the other questions for a long term viable SaaS product:
How does your SaaS product evolve to meet the changing technology needs of the customers? Is your SaaS product adaptive to work tomorrow? Is your product ready to meet the increasing workloads & demands of the future?

SaaS products involve several iterations and frequent launches. These products demand an open minded approach towards adopting the best technological improvisations for delighting customers.

7. Differentiation Strategy

Many new SaaS products are launched everyday, but most of them fail to meet the needs of the market. The market is driven by value, products that don’t meet the cut and fail to delight the customers are discarded.

Competitive benchmarking helps an organisation understand what products are already existing in the market. They can devise a strategy to build differentiated products and build more competitive value propositions for the clients.

The competitive products are a good indicator of what clients already have. If your product doesn’t offer a significant improvement over the existing ones, customers will hesitate to switch to your product. By developing a good understanding of the existing products and the market ecosystem, organisations can build better SaaS products that address the gaps.

Organisations also study existing physical processes and build a technologically viable product or service to meet the customer needs with a SaaS product. If the SaaS product provides end to end service for meeting the customer needs, product adoption improves a great deal.

8. User Behavior Monitoring

The product features can be developed after understanding the user patterns. The user behaviour also helps companies predict the needs of their customers. For e.g. Twitter analysed that many of its users spend time reading through articles, they used the data patterns to recommend them articles and also introduced a bookmark feature.

Customer driven development improves adoption of the SaaS product, it helps organisations build features that are useful for clients and improves overall quality with usage analytics of the products.

By understanding the customer interactions, organisations can identify the key features required to serve customers, learning behavioral patterns and add ongoing value to the product. SaaS products evolve with usage, technology changes and customer needs. SaaS products are used by enterprise customers to help them with their day to day work and address the gaps in their business with efficiency.

9. Enable Security

The growing proliferation of SaaS software, wireless networks and mobile devices etc. introduce many endpoints that can be exploited by malicious users. The security aspects of an enterprise SaaS software need to be designed carefully. The veiled threats of the web can be circumvented by operating the SaaS software with least privileges.

As the number of enterprise applications, integrations and mobility of business users increases, the security aspects of SaaS product development are critical for companies. A complete audit trail of events, users activities and application needs to be maintained by the super admin users. Any anomalous access or activity needs to be reported to the system administrators for corrective actions.

The SaaS software must provide security at every layer, whether it is the application users, database, admin users. Companies must implement data security policies to prevent any breaches. Many companies like Google and Amazon use automation to prevent their employees from accessing user data.

10. A/B Testing

The A/B testing also known as the split run testing or bucket testing is an effective way to evaluate user experience. A/B testing helps you evaluate two variants A and B with user feedback. So, for e.g. if you have to analyse two designs for customer sign-up, you could evaluate the click rates of the two variants by randomly serving users with these variants.

This strategy is also useful for guiding many product features that can be tested with different designs. These tests can be used for analysing user interactions with features and understanding usability of the features. Involving the users for inputs, feedback and testing is an effective strategy for product development used by experienced teams.

Kreyon Systems is building innovative SaaS products for companies to improve adoption, maximize user delight and make customer success your organisational goal. If you need any assistance with SaaS Product Development services or have queries, please contact us.

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How Agile Software Development Provides Great Value to Customers

Kreyon — Wed, 08 Apr 2020 17:27:07 +0000

How Agile Software Development Provides Great Value to Customers

Agile software development comprises various approaches to software development under which requirements and solutions evolve through the collaborative effort of self-organizing and cross-functional teams and their customers or end users.

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Office Automation Software

Kreyon — Tue, 26 Nov 2019 12:26:37 +0000

Office Automation Software

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10 Must have features for Accounting Software

Kreyon — Sat, 15 Jun 2019 13:26:18 +0000

Features for accounting software

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 requirements and keeping track of the way capital is spent.

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.

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.

Here are the top 10 key features every accounting software must have:

1. Reports and Analysis:

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.

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, & your business operations.

Reports and Analysis

2. User authorisations & Security :

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.

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.

The data security measures must be taken to foolproof information and accounts.

3. Payment processing

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.

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.

Payment processing

4. Opening Balances & Migration

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.

The software should provide a way to import account payables, receivables, inventory, assets, liabilities, income & expenses etc with an integrated interface. A one time upload of these account balances should set the system up and running for you.

5. Interoperability with Business Functions

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.

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.

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.

Interoperability with Business Functions

6. Design solutions:

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 & loss or cashflow report for your business, you don’t have to wait for the accountant.

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.

7. Invoice & payments collection

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.

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.

These systems will allow you to print invoices with custom designed templates, print or send them to customers electronically and receive payments online.

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.

Invoice & payments collection

8. HR & Payroll

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.

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.

9. Inventory & Fixed Assets

Inventory & 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.

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.

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.

Inventory Management

10. Reports & Compliance

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.

The accounting solution should help the company to maintain its compliance, mark important dates and generate all reports as per the government regulations.

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.

These systems can provide important inputs for budgeting, estimating, and costing functions for organisations.

Conclusion

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.

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The Most Popular Programming Languages According to Google

Kreyon — Sat, 06 Apr 2019 12:27:23 +0000

5 Traits of World Class Software Development Teams

Kreyon — Thu, 28 Feb 2019 14:12:48 +0000

software-team

Software is all pervasive and becoming a key driver of industries in the digital age. Everything you do today revolves around technology in some way or the other. Even the most traditional sectors like agriculture, mining and natural resource industries are increasingly adopting software and technology for day to day operations.

Software development is an innovative and creative art that creates technology to reduce human effort, increase automation and maximise output. The speed and agility with which a team can create world class solutions increases its chances of success manifolds. Speed matters because things change fast and no one wants outdated stuff in the digital world.

Product-and-services

A world class software development team has the capability to create things that can disrupt the entire industry. Take for e.g. how AirBnB team created a room sharing portal that has transformed the travel industry, how ride sharing apps have changed the transport industry, how Whatsapp has changed the telecom industry.

Here we look at some of the traits of software development teams that create world class products and solutions:

1. Passion :

Passion

You cannot build anything great without passion and energy. Great software teams care for what they are doing. They put their energy and effort into everything they do. They are passionate about solving something, creating something that impacts people and do excellent work.

When teams are passionate about their work, it shows in the kind of products and solutions they build. They take extra care to ensure things they build, stand out. They also learn more, work harder and do everything they can to keep raising their level.

2. Ownership :

You cannot build anything significant, if you don’t take ownership of what you are doing. Great professionals and teams are accountable. They take ownership and pride in their work. When you are building something great, it occupies you all the time.

Great teams manage their work and never need to be told what needs to be done. They organise themselves to take care of everything that matters for the project. They do what brings true value for their clients. It creates a world of difference where you are focused on creating great value rather than just spend office time looking busy but not doing anything substantial.

3. Quality Solutions :

There are plenty of software solutions available for everything under the sun today. To stand out, you need excellence. Great teams understand that to achieve success, you need quality. These teams push themselves to deliver top quality solutions. They are always on the lookout for areas where they can improve.

A top quality solution solves a problem for the customer. The team that solves the problems puts effort in building the solution with absolute care and attention. The best teams are known by the products they built. For e.g. Mac team slogged day and night to build a device that put them on the world map. Amazon was built with lot of enthusiasm and zeal; it changed the way people buy things.

Great teams have the ability to deliver solutions that are meaningful, creative and solve hard problems.

4. Technology, Tools & learning :

Software is constantly evolving with changing technologies. What is good today will get outdated tomorrow. The solutions that companies build need to adapt to the changing technology, else they become obsolete.

Great teams understand that the technology and tools that are required for building excellent products and services. They are aware of the industry trends, learn and share things with each other to keep themselves updated.

Learning is an integral part of successful teams; they are always willing to explore new technologies, tasks and challenges with an open mind. They experiment and learn all the time to improve things they are doing.

5. Trustworthy & Reliable :

Trustworthy-&-Reliable

A great team wins the trust by delivering what they promise and doing so with very high reliability. When a team shows that they can be trusted with projects and will ensure successful outcomes, they attract opportunities for greater success.

Software development is often driving critical elements in an enterprise, dealing with secured data and running end to end operations. Great software teams are dependable. They not only score high on ethics, but also complement that with exceptional execution. They meet the needs of the project day in and day out. Infact, they do everything they can to go over and above what is needed from them. They beat deadlines, understand priorities and deliver the goods with amazing consistency.

Conclusion:

This is an amazing time for software development teams to experiment and create world class products. The surge of mobile internet and cloud computing have increased the reach of products/services like never before. The best software development teams believe in their mission and build remarkable solutions that people adore.

Software development teams can create a massive difference with the work they do. If the teams are committed, work hard, love what they do and have the required skills, nothing can hold them back. The digital technologies are reshaping many industries and software companies are playing the lead role in this transformation.

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