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Blockchain records the transactional details, across many nodes in a network form, so that the data is not modified. In other words, a chain of blocks that contain information, or data is called a blockchain. Do you know how blockchain technology is different from bitcoins? Bitcoin is the cryptocurrency, blockchain technology that found many uses beyond bitcoin. Blockchain provides benefits to companies with new opportunities, through greater transparency, advanced-security, and easier trackability. A blockchain network technology can help in tracking orders, transactions, profiles, and production. Check out top 5 ways how Blockchain technology benefits businesses.

BLOCKCHAIN TECHNOLOGY- RULING THE DIGITAL WORLD

Blockchain is an immutable and distributed ledger-stores and records the transactional details across many nodes in a network form so that the data is not modified. In other words, a chain of blocks that contain information or data is called a blockchain. Blockchain was introduced to timestamp digital documents and prevent the changing of records. The blockchain network is not under the control of a single authority so, it is more secured and bounded using cryptographical ideologies. Being a distributed ledger, the data stored in it is visible to anyone and at any time. So, the building blocks of the chain are transparent and liable for their activities.

Do you know how blockchain technology is different from bitcoins?

Bitcoin is the cryptocurrency, blockchain technology that found many uses beyond bitcoin. Bitcoin is implemented using blockchain technology, but blockchains in contexts refer to the combination of several technologies, including its data structure, public key encryption, ledgers, and consent mechanisms.

Importance of Blockchain

Due to COVID-19, the field of Blockchain technology is developing very fast in the IT sector. The demand for blockchain developers increased as one-third of the organization requires blockchain technology to be introduced in their businesses. This technology is too secure while doing online transactions that have made all the industries adopt this. Blockchain provides benefits to companies with new opportunities through greater transparency, advanced-security, and easier trackability. A blockchain network technology can help in tracking orders, transactions, profiles, and production.

Top 5 ways how Blockchain technology benefits businesses

Global supply chains, industries like healthcare, financial services, commercial sites, and much more are exploring the advantages of blockchain technology to dislocate and transform traditional business methodology. Better Transparency With the use of blockchain technology, transaction-records are becoming more transparent. Organizations have tried to impose more rules and procedures to enhance transparency. But due to centralization, a system cannot be fully transparent. High-level Security Blockchain utilizes high-level security compared to other record-keeping systems due to its digital signature and end-to-end encryption. This technology is to be highly secure, appropriate, with tamper-proof recording. Transactions are more secure than other record-keeping systems and to be agreed upon before recorded. After approval of each transaction, it is encrypted and has a proper link to the previous transaction using a hashing method.

Lower investments At present, businesses require to invest a lot of money to improve and upgrade their previous running systems. With blockchain technology, they can have lower investments or reduce costs with great new opportunities and higher efficiency. They can also cut costs with the third-party vendors within less time and interaction while validating a transaction. Improved Traceability Companies can now trace the products and can focus on the workings of both vendors and suppliers. Earlier it was hard to trace items that usually lead to multiple problems like theft, forgery, and loss of goods, but with blockchain technology, the supply chain becomes more transparent than ever. Moreover, it helps improve security and prevent fraud in exchange-related businesses. It can also help in verifying the validity of the traded assets. Increased speed and efficiency With the decentralized feature, blockchains can benefit the organization by providing increased efficiency and speed. It removes the unnecessary processes in many fields like payments and solves the time-consuming process and, systematizes them to maximize efficiency. There's no scope of man-made errors with the help of automation. Every recorded data in a decentralized ledger makes it easy for everyone to trust each other. In short, blockchain technology develops its unique way of data storage to provide a highly efficient process with transparency, trust, and immutability.

Where Is Blockchain Being Used?

With a broad area of applications and uses, blockchain technology has been implemented in the following domains:

• Finance – Blockchain technology in the finance industry worked well due to improvements in the speed of transactions, easy accessibility, and enhanced security. • Government- Blockchain technology helps to keep track of voting records. • Healthcare- Blockchain technology in the healthcare industry manages a large number of patients’ confidential information or data. vTech Solution, Inc. provides enhanced security to the healthcare industry for the confidential data records of patients. • Education- Nowadays, blockchain solutions have simplified the processes- document verification and universities to maintain records of students. The COVID-19 pandemic indulged students in the digital processes of attending the lectures online. vTech Solution, Inc. has helped several education organizations withstand the pandemic by providing the education package.

Applications that are changing the world

Do you think blockchain technology has changed your life or can give you better opportunities to work in the future? Blockchain technology serves a variety of different applications and integrated mobile applications in the following ways: Integrating a Payment Service Provider To have access to a mobile app, you can select a payment service provider for integrating the network. A service can be added to the network using a few lines of code. Cryptocurrency is Bitcoin that can later be converted or transferred to a bank account. Safer financial transactions Once blockchain technology is integrated further into current financial systems, count on most of your financial transactions being safer and secure. Blockchain protects other manipulators from spying on your data and simultaneously prevents the potentials of duplicitous tampering. Improved file storage Beyond financial transactions, there is a lot more in which many companies are experimenting with different potential uses for these mutually accessible, digital records, including file storage.

Conclusion

COVID-19 pandemic has increased the use of this technology and in the future can set up to operate in many ways, using a different methodology to secure a consensus on transactions, visible only by authorized users. As an example, Bitcoin is the most well-known proof that shows how huge Blockchain Technology has developed.

Cloud computing is flourishing with new trends and advancements. It had surprising growth last year and is predicted to break its own record in the coming years. Gartner defines a hybrid cloud service as a cloud computing service that is composed of some combination of private, public, and community cloud services from different service providers.

Hybrid cloud benefits an organization by providing Business Continuity, Innovation Opportunities, Scalability, Risk management, and Secure models for leveraging cloud.

A recent study by IDC projected that the worldwide data services for hybrid cloud will grow at a five-year compound annual growth rate (CAGR) of 20%, which is 15 percentage points faster than the worldwide software market.

Hybrid cloud providers are looking forward to evolving from the conventional cloud model. Thus, to dig in deep, let's look at some specific trends that are expected to unfold in 2020.

Why Hybrid Cloud is Right for Your Business?

An organization’s hybrid cloud is a synergic amalgamation of a public cloud or a private cloud, for them to work together, there needs to be some coordination.

1 Hybrid cloud environments will improve

There is an expectation to see augmentation in private and hybrid cloud implementation in the year ahead, mostly as the organizations are adopting cloud-centric operations and infrastructure.

Organizations will be able to receive a flawless hybrid cloud experience rather than viewing private and public cloud resources as different frameworks.

vTech Solution, Inc. aims to provide the right infrastructure for your business, which may involve both cloud and dedicated environments. Check here for more!

2 Automation will lead to multi-cloud environments

Organizations are fusing technologies from multiple cloud providers to refrain from vendor restrictions and avail the best features from multiple providers. Thus, multi-cloud will become the new norm, as organizations will experience the freedom to operate their workload with private, public, or hybrid cloud providers.

With the help of automation, organizations will be able to have a comprehensive outlook of their cloud operations, while managing costs and security issues.

3 Safety, reliability, and adaptability will lead to efficient hybrid cloud strategies

Threats such as email compromise attacks, ransomware, and especially data breaches can occur in cloud environments. Securing all endpoints in the network cloud, isolating the most critical infrastructure, encrypting the data passing through the cloud, etc. will help maximize cloud security.

4 Use of containers will grow

Containers provide consistency, irrespective of the type of cloud deployment. They are easy to deploy and can tackle operational concerns related to hybrid cloud, enabling organizations to increase the business value from their hybrid cloud strategy. While IT companies are bringing platforms together to simplify deployment, organizations will consider using containers to diversify the use of the hybrid cloud.

The hybrid cloud will persist to grow and develop gradually to offer companies more flexibility and regularity and help them speed up application deployment cycle.

In the coming years, the hybrid cloud model will easily divide the workload with greater flexibility, Increased automation and consistency, Scalability, and Enhanced security. The current and upcoming trends in the cloud computing market would be enhancing and meeting the coming business demand.

At vTech Solution, Inc., we can help you set up secure Managed Servers for your organization. We will manage your cloud requirements while you attend to your business needs. Let's talk!"

An ERP solution is often one of the most paramount decisions a company will have to make. Although ERP solutions have become relatively less expensive over the years, it's still an important financial decision and one whose functionality has a direct impact on most parts of your business, like human resources, accounting, manufacturing, and marketing. ERP solutions being a critical component of business, buyers should research not only what’s currently available, but also what ERP solution trends are on the horizon. These are the Top ERP trends to look out for in 2020: 1. Two-Tier Model: This model is a combination of more than one software or vendor. Given its difficulty with integration in the initial stages of implementation, it is advisable for businesses to prepare an implementation strategy for this type of model of ERP. 2. Increased Adoption in SMBs: Mostly small and mid-sized businesses tend to adopt ERP systems, especially, as companies are making judicious IT investments. ERP can fortunately provide an end-to-end performance in just one system. A few years ago, ERP was mainly used in large enterprises, but with the increased affordability and accessibility, the software has become popular in SMBs, as well. 3. Agile ERP: Among CIOs, the waterfall model will become less desirable, and Agile model will take over the market. The reason behind that is, In the waterfall methodology, the problem does not get noticed or addressed until it becomes a major one. In a dynamic business environment, Agile ERP works better.  4. Customer-Centric ERP: Most ERP solutions are designed to fulfill managing requirements in areas such as, accounts, audits, supply chain, and warehouse. A customer-centric approach has never proved useful in the ERP solution. In 2020, we will be seeing significant changes in this approach because a strategic tactic will be applied, and tech giants will try to make it more customer-friendly. 5. Security & Compliance: ERP has become a necessity for most businesses. There has been an increase in prioritizing compliance and security in businesses. One has seen specific ERP’s like SAP Business One which is GST compliant and it continually upgrades the software. 6. Personalized ERP: We will witness an increase in personalization with ERP solutions with the rise of AI. The flexible solution will support personalization and will have more user-interfaces. ERP and AI have to function together to provide a more personalized experience to the customer because they are both like the body and brain.  7. Focus on Functionality: The functionality will be considered over the pricing; if existing ERP solutions cannot provide certain features required by customers, then they will most likely be replaced by a newer solution, one which may already be available in the market. 8. Real-Time Insights: Most of the new ERPs are transforming. They now enable systems to generate reports from captured data and support real-time responses. The transformed infrastructure creates a way for traditional ERPs to execute such processes, which can supply businesses with insights for planning and forecasting purposes. Real-time insights generated from said ERP trends and proper strategic planning can be helpful for businesses in the long-term. 9. Augmented Human Capabilities: Some advanced ERP solutions will put forward unique intelligence capabilities, which can enable automation. ERP alongside advanced human capabilities will increase the efficiency of an employee, which can potentially have a direct impact on the performance of the company. 10. Friendly User Interface (UI): As organizations start adopting the latest technology to get more real-time data. Interaction with the ERP system will increase as an increase in the number of employees. Better UI and appealing design will be part of a newly evolved interface.  This is necessary because most of the employees are from the tapping generation than from the typing generation. 11. BI & ERP: ERP systems will move forward by providing real-time insights for the product development, productivity, marketing, operational efficiencies of businesses. For example, a production manager in the manufacturing industry can monitor the floor’s scrap rate from the real-time data with this combination of BI and ERP. 12. Cloud-Based ERPs: In 2019, we saw an increase in the adoption of the cloud among businesses, large and small. This trend seems to continue in 2020 as well, especially, as cloud solutions are entirely managed by providers, which free IT teams from strict maintenance efforts. As in-house servers are not required to support this functionality, there is also the added bonus of lower up-front costs. To Sum Up: 2020 will witness new ERP trends getting introduced in the market, which can disrupt the entire business and technical scenario in an organization. High-level decision-makers must watch out for upcoming trends and see how they can affect the structure, output, and business results of an organization.

Rising geriatric population is increasing the demand for healthcare services around the globe. However, healthcare providers are seeking answers to address the growing physician shortage, regulatory outbreak, technological challenges, and choking nurse staffing levels. Below are some key trends that affect both employers and employees and are expected to impact talent recruitment and retention strategies across healthcare.

The Talent Shortage

According to the Association of American Medical Colleges, by 2030, there will be a deficit of nearly 105,000 doctors in the U.S. According to research from The Economist Intelligence Unit commissioned by Prudential Retirement, two-thirds of executives at hospitals with more than 1,000 employees are currently facing a nursing shortage or expect one within three years. According to the U.S. Bureau of Labor Statistics, the healthcare sector is expected to add some 2.3 million jobs by 2024; unfortunately, there is not enough talent to fill these positions. In order to reduce this gap, healthcare staffing professionals will need to rely on technology – whether for advanced options for searching and shortlisting candidates, accurately identifying open roles for workers coming off assignments, or personalizing conversations with the smartphone-enabled workforce.

Staff Retention

According to Research Gate, nearly 18% of new RNs resign from their first nursing job within the first year, and a third within two years. Another research by Medscape Nurse Career Satisfaction Report shows that 76% of RNs indicate that if they could choose their career all over again, they would still want to become a nurse. Healthcare administrators will be putting all efforts into identifying issues within their workplace culture while making the necessary changes to improve their employee satisfaction rates.

Unconventional Hiring

Healthcare organizations are regularly facing the challenge of improving patient satisfaction rates, for them addressing patient satisfaction rates is equally important as decreasing turnover rates of their staff. The complicated ways by which the organizations find quality staff is evolving to meet the increased demand of qualified nurses. Selling your organization as a "brand" to attract more candidates is becoming more important than workplace culture. Organizations with a bad reputation not only struggle to attract good candidates but also struggle to retain employees.

Technological Advancement

Technology always tends to fall in the trend lists for numerous industries.  This year is no different, as technology plays a critical role in healthcare and will continue to do so for the foreseeable future. Technology solutions are utilizing streamlined workflows, improved diagnostic methods, and improved communication and connectivity. The healthcare staffing industry continues to adopt technological strategies to recruit clinical talent for healthcare organizations more efficiently and seamlessly than ever before. It also appears that human recruiters will integrate with technology and play a critical role within the automated talent acquisition processes of a supply-constrained healthcare market.

Leading healthcare organizations have found these emerging healthcare recruitment trends to be useful for attracting and engaging top talent. For today’s healthcare and life sciences organizations, finding and retaining the right people to deliver and support key services is an ongoing challenge. We know that the demand for qualified people is outstripping supply, particularly among healthcare providers and the pharmaceutical industry segments.

vTech Solution’s dedicated recruitment consultants and staffing managers bring extensive healthcare and life sciences industry expertise, deep market knowledge, and experience. Our team of domain experts provides end-to-end support in areas such as clinical and healthcare staffing, ATS (Applicant Tracking System) implementation, and sourcing support services to Healthcare, Pharma and Life Sciences industry clients