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Stablecoin Development Services by Prolitus to create your own Asset-backed cryptocurrency.we offer blockchain-enabled platform that offers permission for creation, management and trading of Stablecoins. Stablecoin Development Services By Prolitus.

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#Stablecoin Development Services #Asset-backed cryptocurrency #stablecoin marketing service #Wallet and Exchange development services

Tackling NPAs and ensuring better profitability with ERP banking software

For a growing economy like India, banking and financial institutions are the lifelines for trade, industry, and commerce. The Banking sector acts as a platform for meeting/enabling the financial requirements of the populace. Be it through loans for small businesses to a pensioner who invests his/her life’s saving in a bank and maintain a livelihood from the interest they earn.

Though, Banks and Financial institutions are key to economic growth, they are in a bad shape, not just in India but across the world as well. The banking sector in India is projected to be on the brink of a collapse, largely due to the existence of vast sums of non-performing assets. It is estimated that the NPAs existing with banks as on December 2017 was 8.41 lakh crore. That is a colossal amount and one of the reasons why most banks are under performing today. There are many reasons which could have resulted in the current situation. Amongst which the diversion of funds or fraud along with lack of due diligence before giving a loan, and overall digitization are the most prominent.

Role of technology

With technology, it is possible to identify the red flags in time, such as the inability of a person to pay off a loan. Online banking software like ERP can ensure transparency and efficiency and real-time data monitoring. For example, in case, a small business enterprise desirous of a loan has an ERP software integrated, it would be much easier for the bank to tap real-time transactional data and help it decide whether it can pay off the loan in time. Some of the best ERP software for small businesses include Odoo, NetSuite, etc.

Apart from NPAs, some of the other challenges in banking are related to the provision of a more engaging client interaction, delivering operational excellence, reducing inefficiency and managing the vast amount of data being generated every day. Though, there is no magic bullet for removing the inefficiencies that have crept in the banking system, integrating ERP banking software is certainly advantageous. Here’s how it can help:

Read More: Tackling NPAs and ensuring better profitability with ERP banking software

#ERP banking software #ERP Software #erp system #erp consultant #ERP software for small businesses

Essentials of ICO marketing

The fall in Bitcoin price has not deterred investors as there has been an unprecedented growth in decentralized market, and the Initial Coin Market or ICO is abuzz.For the uninitiated, an ICO is a type of funding involving cryptocurrencies — when someone offers investors some units of a new cryptocurrency or coin in exchange for established crypto currencies such as Ethereum or Bitcoins. Currently, ICOs are primarily used for funding the development of new cryptocurrencies.

However, despite the buzz about ICOs, and the astronomically higher returns it offers compared to the initial investment, there are some risks associated with it as well. Not all of them are successful, many fall flat in the face of competition. Some fail to generate enough buzz because they look like a scam for the potential investor.As with other businesses, different types of marketing strategies are required for generating awareness and thereby for raising investment. Only, here it is done slightly differently. So,here’s a list of how to strategize for ICO marketing.

Write a white paper

One of the foremost requirements of ICO marketing is a white paper. Satoshi Nakamoto wrote one, Bitcoin: a peer-to-peer Electronic Cash System. A detailed document like this should provide information regarding one’s idea, how he plans to go about with it, all the legal aspects.

Use of best marketing materials

Certain ICOs gained a bad reputation in the market because the marketing materials appeared like a scam to dupe investors. Elaborating on the best practices, Kevin Murcko, CEO of CoinMetro says, “From your website to your white paper and to any email you’re sending to your audience, even the smallest typo could ring alarm bells in the minds of your leads.” Therefore, it is essential to engage only the best ICO marketing agencies. The main aim of the marketing campaign should be centered around assuring the investor and all who encounter it whether at a social media site, or at an event is that the ICO is trustworthy, and not a means for duping the customer.

Read more: Essentials of ICO marketing

#ICO solutions #ico launch services #ico #ico marketing

ICO Regulations Across the Globe: A Quick Overview

Let’s first understand what an ICO is.

An ICO is an initial coin offering used to fund the development of new cryptocurrency projects. It involves people contributing in a new cryptocurrency or crypto-tokens in exchange for major cryptocurrencies like Bitcoin or Ethereum and Fiat. These crypto-tokens can then be sold and traded against different currencies on an exchange platform if there is a demand for them.

One of the most successful and prominent ICO has been the Ethereum ICO, which had a growth of whopping 152,500 percent. If the idea is good, some serious money can be raised through the ICO’s. That is why Entrepreneurs and startups are looking into how they can get involved in this new fundraising phenomenon. The very first ICOs emerged as a perfect opportunity making contributors rich in a very short time, but as the number of ICOs grew at such a fast pace, so did the count of suspicious and fraudulent projects that duped the contributors. There have been many scams related to ICOs where photos of renowned advisors disappeared suddenly from official websites, feedback was deleted from ICO community forums, and investors saw a 404 error when they tried to access the ICO domain on browser. This was possible because there were no rules defined for the market players, they could run their business using any scheme or model, and gain maximum returns for themselves. This turned ICOs as a risky option especially if they are not backed by solid documentation and real people, and so it must adhere to certain rules and regulations to protect the interest of the people.

Today, when it comes to ICOs, regulation is an important aspect. Companies and investors dealing with ICOs must understand the regulatory requirements. For example, Adherence of Anti Money-Laundering(AML) and Know Your Customer (KYC) policy is mandatory for every ICO to follow, in addition to other regulations that may vary from country to country. Some countries, like China and South Korea, have completely banned ICOs, declaring them as potentially fraudulent, while other countries like Switzerland and Singapore are more open to the idea requiring suitable compliance. The most ICO-friendly countries includes Estonia, Cayman Islands, Gibraltar, Malta, Lithuania, Luxembourg, Switzerland, and Singapore.

Let’s take a look at ICO regulations in some of the countries :

The United States: ICO regulations vary from state to state, hence leading to divergence of opinions. BItcoins and major altcoins are treated as a commodity, making them a responsibility of CFTC (Commodity Futures Trading Commission). Future tokens are classified as securities and fall under the jurisdiction of SEC’s (Securities and Trading Commission). If the ICO is to sell or trade securities, it must be registered with the SEC. Celebrity endorsements of ICO is illegal until all compensation involved is disclosed. Also, failure to adhere to AML/KYC policy by the ICO is illegal and can lead to seizure.

See more: https://www.prolitus.com/blog/regulated-icos-new-regulations-around-world/

#Automated Token Sales Platform #Cryptocurrency development services #ICO smart contract development #Initial coin offering

Top Benefits of ERP Implementing Software

#ERP implementation #ERP software Solution #What is ERP #Benefits of ERP #ERP Services

Choosing the Right ERP Solutions for Your Business

Since the 1090s, ERP or Enterprise Resource Planning has been used by companies across the world to streamline their businesses and to enhance data visibility for processes such as manufacturing, finance, and project management. With companies moving over to the cloud, ERP has become essential for proving businesses with the much-needed security and flexibility for operating their businesses.

Some of the most common types of ERP systems that are in existence today are mentioned below. While Some amongst these ERP softwares’ are suitable for all businesses.

Open source ERP such as Odoo.

Small business ERP such as Peoplesoft.

Vertical ERP such as Microsoft Dynamics AX

Generalist ERP such as Oracle, NetSuite, and Sap

Epicor ERP, etc.

Implementing ERP for efficiency and profitability

While it is evident that ERP increases productivity, it is for the company to decide whether it prefers to build its own custom ERP solution or purchase an on-premise software. However, regardless of the kind of ERP solution that a company desires, the implementation process can be daunting, requiring time, money, and proper planning. There before choosing, it is necessary to consider the ROI. In addition, it is essential that the kind of ERP chosen receives a nod from all involved.

Some of the challenges in the ERP implementation process in a company/firm are as follows:

Chaos and confusion as the company does not realize that the ERP implementation must be done in phases. Trying to do everything at the same time to save time and money only creates chaos and confusion.

Generally, companies that try to rush through the ERP implementation face the problem of staff that is not quite adept at handling the ERP software. Instead of seeing their faults, people are more prone to complain that the solution is not giving the desired results. Handholding until the client fully understands how to operate the software is, therefore, a vital part of the ERP implementation process.

See more: Choosing the Right ERP Solutions for Your Business

#Erp Software #Erp Company #erp implementation #Erp Solutions

How E-commerce Giants Festive Season Sale is turning into a Nasty Scam?

With the onset of the festive season, most of us tend to go on a shopping spree. With online retailing becoming a convenient and alluring option, shopaholics are having a blast. Today, with increased penetration of internet along with the proliferation of smartphones and tablets, eCommerce sales have touched an all-time high. So much so that we as customers are becoming victims of intentional fraudulence with several fraudsters intending to make quick bucks in different ways. The very recent instance that has taken the e-commerce world by storm is the ‘Big billion day scam’ wherein fraudsters managed to sell counterfeit products by misappropriating the name of e-commerce giants.

While the E-commerce giants suffered reputational damage, customers were actually at the receiving end with fraudsters duping them of money, as well as trust. Such instances show how easily we succumb to the influence created by carefully crafted marketing campaigns by fraudsters. So, how do we curb, if not completely bring an end to such activities? While a lot has been spoken and debated, very little has been done to combat a problem as grave as counterfeiting.

This indeed is a case of inefficient supply chain management, which needs to be optimized for greater transparency and efficiency. So, while retail giants claim to have in place a secure system that offers highest standards of security, there still remains the need to have in place a robust system that can do away with the inefficiencies of the conventional centralized system.

Blockchain — A decentralized ledger technology can be leveraged to create a robust technology solution that can aptly deal with the pain points of the supply chain ecosystem. Such a system besides tracing the provenance of goods will help keep a track of goods and their journey at every point within the supply chain. Sofocle — A leading player in the Blockchain space offers ‘sofoChain’ that has been designed to address the loopholes of the supply chain landscape.

See more: https://medium.com/@prolitus/how-e-commerce-giants-festive-season-sale-are-turning-into-a-nasty-scam-b34d8aeb8cf0

#Blockchain #E Commerce Scams #ecommerce scams

Checklist for launching an ICO

ICOs or Initial Coin Offerings are currently in trend, despite the severe backlash they have faced for raising funds through dubious means and for equally dubious schemes. Last year as per the estimates, billions were raised in ICO funding. Even an unusually named project, Useless Ethereum Token, managed to raise $200, 000 in contributions.

Funds are raised through a token sale. In simpler terms, a token sale is a tool for investing in digital economies by trading in bitcoins, Ethereum, and other cryptocurrencies. Investors invest in the expectation that the value of their tokens will increase over time.

Coming back to the moot question of ICOs. Though ICOs may seem tantalizing, they are beset with several issues; there are no set rules, and the competition is fierce. A competitor may come up with a similar idea.

So, here’s a checklist that will help you launch your ICO:

· Come up with a gem of an idea. One that has no rival. One that the market needs. Think of ways of integrating cryptocurrency into the project. In case, your project can be run without tokens successfully, investors will be turned off.

· Research on the legalities. Quite recently the Securities and Exchange Commission (SEC) cracked down on many start-ups funded through ICOs. Some of the start-ups shut down were said to be using “misleading marketing” or false claims. Therefore, before the launch of an ICO it is necessary to enlist the help of a lawyer who is well versed with cryptocurrency and legalities around it.

· Creating an ICO token. This is by far the most important process. The pre-requisites for this are:

· Solid distribution plan, incorporating the different stages of the token sale.

· Clear outlining of the number of tokens to be distributed. The number of tokens that would be issued. The number that would be distributed in the team, and the number that would be sold. Under what circumstances would further tokens be issued.

1: Taking the help of a white paper: As the name suggests, the white paper is a technical document covering the A to Z of the project. From market analysis to the development strategy chartered out, and the goals and architecture. It would also include information about the tokens and how it would be distributed. Apart from the aforesaid, the document would also cover legal issues, and information about investors and advisors and so on and so forth.

2: Design a suitable website layout. One that is user-friendly and is suggestive of the nature of work. The website could also incorporate additional features such as a detailed structure of the token sales. The idea hitherto would be to inculcate the fear of missing out.

3: Security is equally important: once the ICO is launched, there would be many prospective investors who would be queuing up to view the website, which could lead to a crash. Likewise, hackers have been known to hack the website address. There have been instances in the past where these hackers have replaced wallet addresses, with the result that investors’ money ended up in the wrong hands.

#Token Sales Platform #Launchyourico #Ico Solutions #Blockchain

An ERP or Enterprise Resource Planning software greatly reduces the need to manually enter information and also eliminates several repetitive processes. Customer Service. Data Security. Improved Reporting.ERP System is an Organization for Growth of your Business. see more: https://www.prolitus.com/erp-implementation

#erp-for-all-business erp-implementation and erp-solutions

Business Benefits of Integrating ERP with CRM for Small Businesses

The twenty-first century is rightly called the disruptive decade. While several large businesses have collapsed under the burden of debt and inefficiency, new businesses and start-ups have proliferated in its place. Since, the new economic order of the world relies increasingly on technologies such as artificial intelligence, cloud, augmented reality, and ERP or Enterprise Resource Planning software which is an automated platform that enables the business to run smoothly, it has certainly changed the way organizations conduct their business.

Though integrating ERP with CRM for small business could speed up operations and cut costs for the business owner phenomenally, many small-time entrepreneurs are still unsure about this technology. They have a certain unfounded bias against this, which are as under:

The common belief is that ERP or Enterprise Resource Planning is meant primarily for mid-sized to large and global organizations as the costs associated with its implementation makes it less feasible for small businesses. This, however, is without any grounds. While on-premise or client/server options are certainly costly for small-sized businesses, they can utilize cloud-hosted ERP solutions for their business. In fact. In the long run, the benefits will over shade the costs.

While small business owners struggle with costs and manpower resources when it comes to adopting new and advanced technologies, ERP software solutions offer user-friendly interfaces that allow even people with little to no technical acumen to handle it with ease.

The need for ERP is primarily felt during the scaling-up phase. However, one should be very careful before deploying an ERP solution and consider factors such as costs such as maintenance and subscription costs, the ease with which the technology can be integrated into existing standalone units, mobile capability and the need for training of personnel before implementation. Once these are considered, only then should one proceed with the deployment. Business owners should refrain from asking the vendor for a quick deployment, as it is not feasible.

Integrating ERP with CRM

While the ERP handles the data and the regulatory aspects, it is important for a small business owner, to know exactly how his customer feels about the service, and what his specific requirements are. He would also like to have an idea of how to proceed with his business in future. This aspect of the business is looked after by Customer Relationship management or a CRM software. Integrating the ERP with CRM for small businesses is a preferable solution as combined solutions take care of multiple modalities of the business. While the former takes care of broader functions such as finance and HR, the latter can be utilized to track the sales growth in a month, and how the sales personnel are functioning. CRM is also responsible for streamlining the processes and for taking care of functions such a customer requirement, customer services, marketing, etc.

Read more: https://medium.com/@prolitus/business-benefits-of-integrating-erp-with-crm-for-small-businesses-5cc55ef2b745

#ERP solutions #ERP Software #erp system #ERP Services for all business

Top 3 Blockchain Smart Contract Development Platforms

A smart contract is a piece of self-executing code that not only defines the rules and penalties of an agreement like a traditional agreement, but also enforces those obligations automatically. Smart contracts can be used across a broad spectrum of utilities including financial services, healthcare, insurance premiums, legal processes, crowdfunding agreements etc.

Smart contracts are capable of :

Managing agreements between different parties. Example : In the case of an insurance, one person buys insurance from an entity.

Functioning as ‘multi-signature’ accounts, where funds are spent only if a required percentage of people agree.

Providing utility to other contracts

Currently, there are more than twenty smart contract platforms available in the market. These platforms differ from each other in many ways, be it functional, technical or practical aspect. That is why, development for each platform requires a different set of expertise.

Currently, the most popular platforms for smart contract development are :

Ethereum

EOS

Hyperledger Fabric

Ethereum It is worth mentioning that Bitcoin was the first to support basic smart contracts in the sense that the network could transfer value from one person to another. The nodes would validate the transactions only when certain conditions were met. However, Bitcoin is limited to the currency use case.

By contrast, Ethereum replaces Bitcoin’s language with a language that allows developers to write their own programs. Ethereum platform is built specifically for creating smart contracts.

It allows developers to create their own smart contracts with a language that is ‘Turing-complete’ meaning that it supports a wider and broader set of computational instructions. The contracts are enforced and validated by computers caller miners. Other participants in the network pay these miners with a fee known as gas. The amount of gas depends on the degree of difficulty of computational efforts as well as on the cost to run a contract. Based on the operations of a contract, different contracts require different gas amount.

EOS

EOS is a new and innovative platform for smart contract development as opposed to the old and trusted Ethereum. EOS platform uses Graphene technology that makes use of the delegated Proof of Stake consensus, meaning that the validations on the network are done by a chosen set of nodes which are selected on the basis of the stake they hold in the network. This also helps it to become scalable by allowing millions of transactions to run together per second. EOS has been able to achieve 100,000 transactions per second in stress testing.

Ownership of EOS tokens gives the users a proportional stake in storage, network bandwidth, and the computing power. In EOS, even the startups that have a very little stake invested in the platform also get guaranteed, reliable computational power and bandwidth.

Hyperledger Fabric

Hyperledger Fabric is a blockchain framework implementation originally contributed by IBM and Digital Asset, and now hosted by the Linux Foundation. It provides options to share confidential information, endorse policies for transactions and execute smart contracts called chaincode.

Read more: https://www.prolitus.com/blog/top3-blockchain-smart-contract-development-platforms/

#blockchain #blockchaintechnology #What is blockchain

The Efficacy of ERP Implementation Solutions

Enterprise Resource Planning (ERP) is a highly underrated organizational tool that’s slowly getting its due. While there are diverse benefits of this technology solution, it isn’t easy to design a customized module for specific business functions. Therefore, most organizations hire experienced ERP service providers that have a deeper understanding of various phases of implementation.

How an ERP Consultant Functions?

An experienced consultant precisely identifies the organizational requirements, grey areas, and other aspects that contribute towards growth. Regardless of company size or spread, a holistic module, as and when implemented can readily help employees process tons of essential data and information. The consultant, working independently or with a reputed consulting firm should have a clear understanding of different implementation phases and industrial parameters.

How to Select the Best Consulting Firm?

Since, implementation of this technology has helped businesses transform their existing processes by enhancing productivity, minimizing costs, and speeding up the underlying processes, the assistance of a reliable consulting firm becomes important. You need to select one of the best ERP consulting firms that can fulfill all the requirements by providing solutions like quality analysis, process improvement, business process analysis, and even implementation approach for prioritizing select areas.

How an Effective ERP Implementation Plan Looks Like?

Although vendors offering such services must be aware of the implementation module, the concerned client must also have a basic understanding of the process, in order to validate the credibility of the service provider. Implementation of this technology solution begins with process discovery and planning. The next steps involve designing and development of the module. Once the module is ready, experienced companies conduct extensive tests before initiating deployment. After deployment, the consulting firms must render ongoing support to the companies, helping them with issues, if any.

Steps leading toward Efficient ERP Implementation:

The entire process starts with problem-solving analysis where the consultant determines the pain points of a business and advises the right set of solutions for combating the same. The next step comes across as agile methodology where select ERP units are put in place and feedbacks are gathered upon testing them once. The subsequent steps include project planning and business modeling where congregated services are selectively deployed. The employees are then trained as the part of the solution designing step which ultimately leads to a successful setup. Service providers like Prolitus take special care while designing such implementation solutions and perfectly train the employees before handing over the entire module to the company.

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