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Tag: amazon

  • Startups Funded by Amazon | Alexa Fund Portfolio Companies

    Investment in promising startups is one of the newer trends, one that tech giants are seemingly interested in since the last decade. Larger corporations including Google, Amazon, and Facebook are offering Startup Accelerator Programs in which startups can register and showcase their potential as a consumer service or other niche. If the startup idea is recognized as a promising investment, they are funded by these corporations accordingly.

    Like other tech giants, Amazon is not new to the investment game, and has been funding startups since the previous decade through the Alexa Fund. Amazon has invested in all kinds of startups, ranging from Fin-tech to online education platforms to healthcare startups, it found promising. Although not all, below is the list of top startups that Amazon has funded, in different domains, and the rounds they were funded in and the investment amount.

    Blutag
    Fiddler
    Amira
    Yourika
    Lightform
    Zoobean
    HelixAI
    Aspinity
    Aaptiv
    SmartRent

    Blutag

    Blutag is a startup in the field of Machine Learning and Artificial Intelligence, and aims to develop voice shopping and integrate it with brands. Blutag has raised $1.5 million in 2 funding rounds, with Alexa Fund participating in the seed round. While it allows natural language conversation between users and the voice assistant, Blutag also helps sellers enhance sales through simple voice searches. It even makes personalized recommendations through AI, and creates an overall better and more convenient shopping experience.

    Fiddler

    Fiddler offers an explainable AI platform and helps you deploy robust AI solutions. Fiddler has recently secured a strategic investment from Alexa Fund, and is looking to expand its horizons and advance actionable AI insights to help businesses. Fiddler helps businesses by offering them complete transparency into the production AI systems so robust and high-performance AI solutions can be deployed. As of now, Fiddler has raised a total of $14 million which includes a funding of $3 million in the seed round.

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    Amira

    Amira Learning, the first AI powered learning assistant that uses speech recognition to help young readers, has secured an investment from the Amazon Alexa Fund. Amazon Alexa and Amira will work together to assist kids by tutoring them to read and learn via different devices and platforms. Amira was founded by the product and engineering team at Renaissance learning, and exhibits and demonstrates the ability to help children read and grow with an experience close to having a dedicated private tutor.

    Yourika

    Yourika, an AI assisted learning solution has been funded by top investors across North America including Amazon through the Alexa Fund. Yourika was founded by AI and EdTech experts with the idea that ‘anyone should be able to learn and discover anything, anywhere and at any time.’ Yourika has a lot to offer including live transcriptions, ORBITS, an efficient study tool, along with AI based learning APIs. The team of researchers at Yourika Labs is constantly working towards deploying newer methodologies to transform learning experience.

    Lightform

    Lightform, an augmented reality hardware company has recently secured a strategic investment from Amazon’s Alexa Fund and other investors including Lux Capital and CrunchFund among others. The products manufactured by Lightroom include LF2, the first sound sensitive AR projector, LFC kit for mounting and adjusting configurations, and a content creation software with a perpetual license. Lightform allows you to create immerse designs, map complex and organic forms, create content through adaptive visuals, and deploy content in the form of an immersive AR experience.

    Amazon Success Story | Latest News | Amazon Founder CEO | Revenue | Funding
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has beenapproved by the organization it is based on. Online shopping has become a part of the daily life for most us today. As per Statista[https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/…
    StartupTalkyHimaya Presthitha

    Amazon Success Story

    Zoobean

    EdTech company Zoobean has secured investment by Amazon through the Alexa Fund, and looks to incorporate voice technology into its reading software through the raised capital. Be it educators, librarians, or families, Zoobean helps every willing individual to participate in and gain insights with reading challenges. Zoobean offers Beanstack for school districts, Beanbright for classrooms and school buildings along with badge books for high quality reading logs. With over a thousand clients so far and regular webinars co-hosted by clients, Zoobean is one of the leading EdTech companies when it comes to smart and efficient reading.

    HelixAI

    HelixAI, a voice powered digital assistant manufacturer, after participating in the Amazon Alexa Accelerator program has secured an investment from the Alexa Fund. The digital assistant for scientific laboratories build by HelixAI responds to regular queries in real-time and revolutionizes hands-free information access. While it can function as the laboratories voice activated search engine, its knowledge base can be customized to alter its response system for the information to be more scientifically relevant. It also helps researchers manage their inventories and effortlessly go through the protocol of their experiments.

    Aspinity

    Aspinity is a pioneer in ultra-low power analog edge processing, and has recently $5.3 million Series A funding round led by Anzu Partners and Amazon’s Alexa Fund. The power efficient analog machine learning chip is based on neuromorphic and computational electronics along with bio-inspired always-on sensing for high-octane power supply. The chips developed by Aspinity sort and filter out the irrelevant data resulting in lesser data processing, hence saving both time and energy and offering the device a longer battery life by about 10 times.

    Relevant Read:

    Aaptiv

    Aaptiv is a fitness app for anyone who isn’t able to plan out a day, and has raised $22 million in Series C funding round led by Amazon’s Alexa Fund with a current valuation of over $200 million. Aaptiv offers users access to thousands of workout classes every week, and has been an ever expanding community of over 200K fitness enthusiasts. Users can avail fitness programs tailored to their specific needs and routine, along with the guidance of expert trainers for the workout sessions. With just the right techniques, tips, encouragement and music, Aaptiv is striving to transform workout sessions more gratifying.

    SmartRent

    SmartRent, a smart home automation solution provider, has recently raised $60 million in Series C funding led by Amazon’s Alexa Fund. SmartRent has a lot to offer including self guided tours, parking management, access controls along with smart apartments. The smart home solutions are developed by multifamily operators for efficiency, convenience, and asset protection. The contactless property access management coupled with remote controls of doors, thermostats, and lights make it a trusted and reputed brand among operators and homebuilders.

  • How Minance Is Changing Investment Management In India

    The investment landscape in India is fragmented and spilt between the haves and the have not. Over the last decade, India has seen an increase in the inflow of foreign direct investment (FDI). More MNCs have been opening their offices and expanding their businesses here, resulting in a wealth of job opportunities. The Bangalore based Minance has stepped forward to solve the chaotic investment landscape of the country by making three fundamental changes.

    The company is vesting its focus on making investing more accessible, making the process more transparent and finally working towards centralization. Investing for higher returns has become an important factor in the average Indian’s financial planning. While there are many wealth management firms targeting high net worth individuals (HNIs) and their impressive portfolios, there aren’t many players in the market helping the average Indian invest his/her hard-earned savings and realize profits from otherwise idle assets.

    This is where Minance steps in to make a difference. The company aims to change that by helping investors from all walks of life invest in products that were earlier available only to the ultra-rich. Right from financial handholding, transparent dealing of investments through a customer friendly dashboard, to centralization of investments and taxation, Minance is giving the Indian consumer financial independence in the true sense of the term.

    Recent Investment Trends in Indian Market
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    StartupTalkyShubham Kumar

    A brief about Minance

    Minance is a private wealth management firm focused on providing a comprehensive range of investment product for its partners. Minance uses a combination of complex algorithms and fundamental research to guide our investment across derivatives, equity, mutual funds and private equities. Minance was founded in the year November 19th, 2014 by Anurag Bhatia. The vision is to be a one stop solution for investor’s financial needs. The company also provides taxation services and is expanding to insurance, credit, and international equities.

    Minance manages the investments of its partners across a range of asset classes from equities and derivatives to mutual funds and stocks of fast-growing private companies and startups. In just four-and-a-half years, Minance has 3,000 partners and an Asset under Management (AUM) of over $41 Million (Rs. 300 Crore). Bhatia the founder of Minance says that, “Our internal tagline is the money company and we want that to be a reality. To that end, we will soon be expanding into insurance and credit”.

    Anurag Bhatia, the founder and CEO of Minance
    Anurag Bhatia, the founder and CEO of Minance

    When it comes to the history of minance, the company was started when Bhatia was still employed under Amazon. He noticed how a lot of employees who had vested their Amazon stocks but didn’t know what to do with the money. Bhatia who then was known to be the ‘stock market guy’, would help them make a deal in which he would manage his colleague’s investments in return for 1/5 of the profits. This led to Bhatia making a company known as Minance. The company, which initially offered just derivatives, soon gained traction among investors because of its low investment ceiling of Rs 25,000.

    Bhatia became well known after becoming a top writer on Quora. Impressed with his knowledge of the markets, people started pouring in to invest through Minance. The young founder says that he’s been humbled by the overwhelming response to his company. “The journey has been challenging at times. What we set out to do hadn’t been done this way before and we had to build a lot of things from scratch, especially the technology,” he says. Now the investment management firm has around 3,000 partners and has an Asset Under Management (AUM) of over Rs. 300 Crore

    List of top Business Ideas with zero or minimal capital investment
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    StartupTalkyVibhavari Madki

    Standing out in the crowd

    What makes Minance stay ahead is their belief of simply establishing a personal relationship with the people who invest with them. Over the years, the company has managed to build a family of clients who have restored their faith in Minance. Minance has been able to carve out a niche for itself in the competitive market with established players like Tata, HDFC, Future Capital, Kotak Mahindra Capital, Edelweiss stock broking and many more.

    The founder of Minance, Anurag Bhatia says that, “Small retail investors were catered to by mutual funds and the ultra-rich (investments of Rs. 30 Crore and more) went with players like ASK, HDFC, Kotak, etc. We take care of the needs of those in the middle, people who can invest anywhere between Rs. 5-10 Lakh to a few crore”. Minance products are designed in way that they cater to a wide range of risky profile needs. Minance has a product for everyone whether they are a heavy risk taker hungry for return or conservative investor looking for a stable and consistent gain.

    The logo of Minance
    The logo of Minance

    Systematic investments plans (SIPs) are the most popular type of mutual fund as it is easy and convenient, but it comes with a problem as people forget to monitor people forget to monitor them and when market conditions change. Regular monitoring and rebalancing are needed, for which Minance offers managed mutual funds. Bhatia points out that one of the most sought-after products Minance offers is a mutual fund enabled product called Assets Pay Cash, which is designed to generate around 12% additional returns per annum over and above what the mutual fund makes.

    Investing through SIPs in stock are harder since you need to gauge the market and track multiple stocks, which is time consuming. “We are making this easier with our equity product (Bloom). Investors can set up a SIP with us, the money is parked into liquid debt funds while we wait for the right time to deploy. This way your money is still invested and we get to pick the right time to enter the market,” explains Bhatia.

    List of Top Mutual Funds Startups
    A mutual fund is a kind of investment where you buy securities of a mixed set ofcompanies to lower your risk. Mutual funds investments can be made in differentform such as Government bonds, corporate bonds, or debt funds. Mutual fundadvisors mostly recommend having a diversified portfolio of diff…
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    Products offered by Minance

    The products offered by Minance are varied in nature. The company taps into the unlisted/private equity market and carries out quality research on companies that are revolutionaries in their fields. The team at minance is focused on research and they make a point to delve into specifics before pitching an investments to their clients. Assets Pay cash (APC) is another investment strategy risk averse in nature with an aim to have you generate significant alpha above your mutual funds.

    The idea is to collateralize your mutual funds, gain margin and then trade in conservative option positions. With all this, our team of Investment managers and Traders work towards being up to date with the market nuances to make informed decisions for our clients,” he informs. Some of the known products offered by the company are:

    • Bloom – Minance long tern equity product is designed to grow your wealth over a 3 to 5 year period. Both Arbor and bloom feature five risk profiles to balance risk appetite with returns.
    • Arbor – Minance core derivatives product catering to aggressive investors, Arbor is designed to generate returns of up to 35%. The product is market neutral, meaning it will generate returns regardless of the market direction.
    • Private equities – The Company offers shares of promising private companies such as PayTm, Ola Kurlon Mattresses, Nazara, etc.
    • Mutual Funds – The company helps its partners identify and manage the most lucrative funds for a given risk level, based on the efficient frontier theory.
    • Assets pay cash – This lets the partner make 12% more returns on top of their mutual funds with no additional investments.
    • Tax safe – Tax safe is minance online vault which stores user’s tax documents and enables them to file taxes in a fast and hassle freeway.
    • Global Equities – Minance latest product enables its partners to invest in a diverse global portfolio comprising of US tech companies, European manufactures, Asian infrastructure firms and many more.

    A hardworking team

    Minance is backed by a young and self-reliant team that is open to opportunities and willing to learn. Bhatia say that, “Finance at the end of the day is also an empathetic business and if you do not speak to your clients the way you would like to be spoken to, the concept of client service is lost. Our team believes in being honest with our clients.” The aim of the company is to level where it serves the elite Indian crowd.

    The idea is to target the rich customers and help them manage their wealth. Traditional methods of investing have existed for centuries and the team is looking for avenues that could help them bounce from these methods to a more advanced ones. “It’s common to worry when it comes to Futures or Options as products because they are quite complex in nature. But that’s where the trick is the want to figure that out. That defines us,” he concludes.

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    Investments made easy and accessible

    Minance partners have access to all these advantages while being able to maintain complete ownership and control of their money. One of the most popular features is a sure shot investor pleaser and the ability to redeem funds anytime. By allowing complete liquidity, Minance takes away whatever apprehensions investors generally have, which make them wary of investing. Minance also enables its partners to access their accounts anytime they wish to see how their funds are doing.

    It offers a web dashboard through which partners receive updates and insights about the companies they have invested their funds in. This helps them stay in loop without having to set up additional tickets on their desktop. Wealth management is an important concern for people living in a country burgeoning economically, technologically, and in many other aspects. Minance helps investors as well as novices strike this balance and provides them the perfect platform to spread their wings and experience ultimate financial freedom.

  • CashKaro Competitors: Top Players In The Cashback Market

    CashKaro is a one stop destination for savings on all online shopping, enabling members to compare prices on different websites, earn extra cashback and get free coupons across 1000 plus ecommerce sites like Amazon, Flipkart, Snapdeal, Paytm, Myntra, etc. With over 2 million registered users, Cashkaro is India’s largest cashback and coupons site backed up honorable Mr Ratan Tata and Kalaari Capital.

    CashKaro offers a casual but fast paced environment where creativity and effective teamwork are rewarded. Founded by Swati and Rohan Bhargava in April 2013, the company helps new brands to be promoted to relevant engaged audience who are online shopping savvy and helps them put on the radar amongst online shoppers. It is free to be listed on CashKaro.

    When you visit CashKaro, you can visit the website of your choice, and shop normally for which the cashback will be auto applied on checkout. The retailer pays us commission for every sale, and we give you Cashback from this. Featured on over 50 news sites in India and UK. India’s fastest growing Cashback site. It is among Asia’s top 25 start-ups to watch out for, as featured in Tech in Asia.

    CashKaro Raises USD 10Mn in Series ‘B’ Funding Led by Korea Investment Partners
    15th September 2020, New Delhi: CashKaro, India’s largest Cashback and Couponssite has secured USD 10 million in a Series ‘B’ funding round led by KoreaInvestment Partners (KIP) and existing investor Kalaari Capital. The company hadpreviously raised their Series ‘A’ and angel round of funding fro…
    StartupTalkyShubham Kumar

    CashKaro App

    CashKaro App is the easiest use of smartphone users and is available on both playstore and iOS for android and apple users. The app has more than 1 million users that have downloaded the app on their android devices. For using CashKaro App you must need to download it from playstore or Apple Store. Then install to you phone.

    • Now open the app and register if you’re a new user else you sign in with your details.
    • You can register through your Facebook Id or Email Id and Password.
    • After registering or signing in go to home. Then you can see offers and deals. Then choose any offer and buy or recharge to getting your cashback.
    • All cashback of you earn will show in your Earning section. Then you can withdrawal easily through your bank account.

    Some of the CashKaro competitors are:

    The competitors of Cashkaro
    The competitors of Cashkaro

    GoPaisa

    GoPaisa provides the Indian online shoppers with an aggregated offering that helps you find great deals while also saving big bucks. GoPaisa co-founders Aman Jain and Ankita Jain built this platform with smart cashback options, coupon offers, deals and discounts, a great shopping experience for anything, be it holidays or electronics.

    On GoPaisa the online retailers are able to leverage the platform to promote their latest deals, promo codes, coupons and discounts while consumers are able to benefit from great savings while shopping online. They partner with renowned e-retailers like Amazon, Flipkart, Dominoes, Myntra, Jabong, Makemytrip, Pepper fry to bring the best possible deals to its customers.

    After registering on GoPaisa users would earn attractive discounts along with cashback on purchases. Online cashbacks get auto credited to user’s wallets after partner retailer websites confirm the successful completion of purchases. However, use of these discount deals would cancel GoPaisa cashback as only one offer can be availed at a time.

    GoPaisa follows a transparent system that allows redemption of the credited amount, in other words, cashback, immediately upon receiving it across varied platforms. The amount can be used to recharge mobile number or DTH Connection or pay bills for electricity, water and makes payments at partner websites. Furthermore, there is an option of bank account transfer.

    How CashKaro Used Social Media To Its Benefit: A Case Study
    CashKaro is currently India’s largest and fastest growing cashback and couponwebsite. Using the platform, users can get Cashback on all online orders atSnapdeal, Myntra, Amazon and the other 500 plus ecommerce partners. CashKaroprovides you with a cashback and gives you the option of paying in ad…
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    GrabOn

    The company was founded in 2013 by 5 people and more than 4000 Merchant Partners and counting. GrabOn is a trusted brand and an affiliate e-commerce scene in India. They are known for maintaining high quality standards through our unique user interface and user experience.

    How to avail offers on cashback sites
    How to avail offers on cashback sites

    On GrabOn you can get the most authentic and updated coupons and deals making the company a top player in the coupons and deals industry. The CNBZ Awaaz called the company as the Internet Heroes thus recognizing them as one of the most successful E-commerce affiliated startups. They have a strategic B2B partnerships with a strong network in the IT sector which has benefitted not only GrabOn but also its affiliates.

    It has been able to save the amount of Rs. 4,389,334,560 for its customers. Through the companies business partnership programs, it helps a company increase its revenue, create brand awareness and expand its reach. Our network includes a wide range of merchants and strategic companies and our aim is to cross-promote each other in providing the best deals to the end-consumer.

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    IndianCashback

    The motivation of IndianCashback is to promote the ecommerce branch on internet and to make it familiar to the common people because they believe that the cashback service which will be more useful for a deep reach. IndianCashback works with most giants of e-commerce marketing as it promotes their products and the customers also get Cashbacking.

    Since IndianCashback works as promoters of merchants, they get commission for the business done through us, and then transfer the big percentage back to you, that means more savings for you at each buy. Because of this reason, you are getting your cashback savings over merchant given offers. Indiancashback transfers your cashback as money, directly to your bank account.

    The process of most cashback companies
    The process of most cashback companies

    IndianCashback has a team consisting marketing experts, programmers, skilled designers, market analysts coordinated under experienced management team. IndianCashback is the India no 1 Cashback and coupons website where can save a lot on your online shopping.  All the customers have to do is join IndianCashback for free, go to a retailers via us and shop at 600 plus online partner shops.

    The cashback is added within 7 hours as it remains Pending status until the retailer pays. As soon as the company gets the commission from retailers we change the status of your Cashback, Pending to Confirmed state which usually takes 4-10 weeks. When you have Rs.200 or more as confirmed cashback in your account, you can request payment at Request Payment page and we transfer the money to your bank account for free via NEFT or CHEQUE.​

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    Pennyful

    The company was founded in 2011 and is the pioneer in the Indian Cashback and discount coupons market and has been recognized as a leading innovation in online shopping space in the Indian market. The goal of Pennyful is simple, which is to create a unique shopping experience for their customers where they can earn back some of the money they spend.

    The company pays its customers to shop. The key distinguishing factor at Pennyful.in is that it offers real cash back to shoppers who shop at any of its affiliations. On the online partner stores through its site while helping them discover amazing offers and products. Supported by an excellent customer support team, Pennyful.in gives its users various options of buying flight tickets, electronics, apparels and accessories, books, gifting ideas, shoes etc.

    The company boasts of partnerships with over 500+ merchants including names like Flipkart, Snapdeal, Amazon, Alibaba and Paytm among others. All consumers need to do is start their shopping at Pennyful.in to earn real cash rewards and discounts. On 17 January 2015, Pennyful also launched its price comparison and product discovery tool for Amazon, Snapdeal and Flipkart, making it the first Indian cashback website to deliver such a service.

  • The Big Data Market Insights

    The big data market is becoming a growing area of cognizance throughout the diverse end-use industries. The big data market helps industries to manage their important data hence, permitting businesses to manipulate huge chunks of data efficiently. Data mining today is extremely important for companies, as the world has shifted online. With the help of quality data regarding consumers, their wants and needs companies can ensure a quality success rate.

    Corporations with the help of the big data market get efficient and become exceptional in coping with it, in the end, increasing the big data analytics market in retail becoming valued at $4.43 billion in 2019, and is calculable to achieve $17.85 billion through 2027, registering a CAGR of 20.4% from 2020.

    Manufacturers steadily spend money on R&D for growing their company’s statistical data to deliver good services. Big data market vendors are predicted to pay attention to mergers & acquisitions and mission investment ascribing to generation development and complex ecosystems. The big data industry report entails big data market players walking the game, a number of which can be as follows

    • IBM
    • HP Enterprise
    • Teradata
    • Oracle
    • SAP
    • EMC
    • Amazon
    • Microsoft
    • Google

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    The Big Data Market Regional Insights

    North America emerged as a major Data market industry accounting for more than 30% of the full sales proportion in 2015. The emergence of the big data market has given an array of possibilities to numerous agencies to control treasured information circulation and remodel it into widespread information. Europe is likewise predicted to witness a full-size increase over the following 9 years due to the fact the administrative and authorities sectors emphasize a growing range of on enhancing operational performance.

    The Big Data Market Analysis by Region

    Asia Pacific is predicted to outperform the global data market with CAGR exceeding 17% over the forecast period. North America will guide the path for the duration of 2027. Regionally, North America attributed to almost two-fifths of the global market analytics in retail in 2019, and is anticipated to preserve its dominant proportion through the Adoption of AI .

    Big data analytics market research in retail companies is forcing the marketplace boom in this province. On the other hand, the Asia-Pacific place is envisioned to paint the quickest CAGR of 23.5% from 2020 to 2027.

    The adoption of cloud-enabled global data analytics in retail software programs , growth in recognition of speedy net connectivity, ever developing cell phone penetration, and growing recognition of e-trade organizations are the foremost things that propel the boom in this region.

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    Big data market trends are valued at $4.99 billion in 2018 and is said to reach $61.42 billion by 2026, this will make Big Data a Service which is a cloud-based total framework and which will give statistics answers to firms on their demand. The education & improvement section is predicted to witness an exponential boom over the forecast period.

    As firms make investments closely in analytics tools, staff, and understanding for greater desirable enterprise decisions, the want for powerful education gets an upward thrust to well shape and examine information for green company decision-making.

    The Global Big Data And Business Analytics

    The Global data market in Hardware

    The hardware phase accommodates server, garage, and community devices. The community device phase is predicted to witness an increase at a CAGR exceeding 20% over the forecast period. This is ascribed to the reinforcement of a new community protection paradigm ensuing from the growing emphasis on greater suitable protection necessities worldwide.

    The global data market size is also anticipated to witness a healthy growth over the subsequent few years because of the elevating name for hybrid and public clouds, which is predicted to strain the need for a greater acceptable global data market size over the imminent years.

    Additionally, the server phase is also anticipated to flourish over the following nine years. The global data market size is anticipated to be the quickest developing software program phase with a CAGR more than 15% over the forecast period.

    This is mostly attributed to the growing name for customers to get admission to information as and whilst required, which has drastically ended in a push for cellular information also it is predicted to preserve the very best CAGR of 23.1% from 2020 to 2027.

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    The Big Data Market in End-Use

    Organizations collect and shop data with the intention to extract quality statistics from ancient data to gain better insights. This is performed for the purpose of analyzing and making particular decisions, which helps in improving operational efficiencies, threat mitigation, and rate reduction. Understanding the cap potential of big data & analytics, numerous sectors have started out deploying the same throughout their systems.

  • The Complete guide for SaaS Security Market

    Technological inventions are taking over the world rapidly. Businesses have shifted from the traditional markets to Saas Security Market. This humanly advancement has been made possible and real due to the new technology called as SaaS (Software as a service) which has simplified and drastically changed the business game. Instead of purchasing the entire software suite, SaaS models enable the companies to enroll for subscription based tools which are rented for a monthly or an annual basis.

    Basically, SaaS stands for ‘Software as a Service’.In layman terms, it’s a bunch of softwares or tools for you to do your job. These applications are hosted online and made available to the customers. They’re all over , everywhere. SaaS remains one of the most important and widely used concepts in cloud computing alongside IaaS and PaaS – Infrastructure & Product as a Service , respectively.
    It enables companies to run their business seamlessly by freeing them of the need to install various hard wares and software which cost a ton.

    While companies majorly avail its ‘Pay-to-go’ features, it does possess some amount of potential disadvantage however, let’s look into the global SaaS security market and understand its fundamentals.

    Software as a Service (SaaS) Revenue Model
    For customers, the benefits of the SaaS model are clear. It brought lowercosts, lower commitment risk, and a try-before-you-buy model, which gavecustomers a remarkable opportunity to assess a product before making a purchase.Indeed, the benefit is so clear that a 2017 study conducted by BetterCl…
    StartupTalkyRishabh Rathi

    Upcoming enterprises as well as established organizations are adapting to Software as a service business model to fight the approaching competition.Be it small startups or a multinational company, it’s imperative to be a sassy vendor to be at the top of your game.

    While you strive hard to get an insane reach , there do exist people out there in the concrete woods ready to steal your precious data and its absolutely necessary to safeguard your company. Well, before you go ahead with competing with the top giants it is highly recommendable to look into the global and national SaaS security market to gain insights from the best.

    Global SaaS Security Market Forecast
    Global SaaS Security Market forecast

    COVID-19 Impact on the SaaS Security Market

    The COVID-19 lockdown has made regulatory changes in public and private sectors to undertake new practices to get business running even while maintaining social distancing.Thenceforth, the new business continuity plan (BCP) has emerged as the new Netiquette.The omnipresent use of BYOD devices, WFH trends had led to an increase in more and more companies to use cloud solutions and SaaS security measures against cyber attacks.

    The global SaaS security markets in the period of 2018-2022 are expected to grow at a CAGR of 22.19%.India is among the fastest-growing digital markets in the world with an exponential growth rate of 34% every year. Indian data market is expected to be $3.4 Billion by 2022 while the Global Market will be in the $129 Billion race.

    The ultimate growth of SaaS and it’s effects on the Business market in India
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    SaaS security regions

    The global SaaS security industry market is dissected into five major regions. Further On each regional market is sub-segmented into countries and below. However the top major regions are:

    • North America
    • Europe
    • Asia-Pacific (APAC)
    • Middle East and
    • Africa (MEA) and South America (SAM)
    Top SaaS Companies by Market Share
    Top SaaS companies by market share

    North America leading with 44% as the largest market share holder in 2016 has adopted cloud services as features like free capital expenditure, automatic software update and data access are available which has escalated the need for data security whereas Asia pacific is speculated to grow at CAGR of 31% which is the highest in the SaaS security market.The collaborative effort of Artificial intelligence (AI) and machine learning has been observed to chance the North American customer services. Companies like Symantec Corporation, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation are a few top key players leading in the market.

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    Predicting the market growth of 20.9% CAGR , the Europe Software as a service (SaaS) market will emerge as a power during the forecast period (2018-2014). As for the Asia-Pacific region , Japan leads with 40% of the SaaS expense. While maintaining functionality and considering ‘cost efficiency’ as their primary concern the Asian markets are still expanding their resources.

    Top Examples of SaaS Applications

    Zoom

    With an insane number of downloads for the Zoom app during the 2020 Lock down, it is a famous example as it allows one to conduct high quality video conferences for a large crowd using cloud computing. While Yoga Aunties and Dance masters are going gaga over the app let’s keep the technicalities to the tech sassy people.

    Canva

    An extremely popular tool Canva is alone in the SaaS game as it allows the users to create mind blowing designs from a pool of designer templates and graphical elements. Canva is quite famous among all creators who need visual content for their work.

    Google docs

    Pretty sure you’ve used Google docs a hundred times, it’s a SaaS as well, as it enables anyone to edit or view your document by simple logging into it. It’s one of the simplest forms of cloud based computing since you can access Excel, Presentations, Meets etc by a working email address. With its Cost effective features , Machine learning data analytics India , is one of the leading countries wherein numerous startups are coming up with customized products and solutions for their clients.
    As proud as this is growth also makes these initial yet to be giants prone to security attacks and data breaches. Therefore, it’s important to learn and understand the SaaS security market , its necessity, precautions, risks and solutions and be at the top of your game.

    Risks associated with SaaS Market

    Not having a secure setup can lead to various disadvantages and vulnerabilities. Here’s a list of things for you to know and understand what could go wrong and create bumps in your startup journey.

    Phishing

    A method to gather personal credentials using deceptive emails and websites. This increasingly sophisticated form of cyber attack has many companies in its shackles. In Phishing, hackers trick the users by disguising themselves as someone the user trusts. This could be a close friend or a trustworthy company’s disguise. The logic is to create a bait for people to fall prey to such imposters which attack your details with their fake emails, links, messages etc.

    ATO (Account Takeovers)

    Account takeovers or commonly known as ATO is a fast growing form of identity theft where data security is compromised. It is the malicious access of an online account by a fraudster posing as a genuine customer and making unauthorized transactions.

    Data Breach

    In Broad Terms, Data breach means your data falling into the hands of someone who has no business handling it. Data breach can be intentional as well as unintentional. At times, users or employees are not careful enough with their sensitive information making their data vulnerable and prone to falling into the wrong hands.
    For safe keeping your interests, policies, sensitive data and especially your hard work it is important for you to protect your information as if it’s a dear one. Having passwords for all your information is a necessary thing to do however, it’s not enough. It’s time to step up and take the blockade to the next level . So here are a few mandatory Precautions and Solutions for safeguarding your data from risks and problems.

    Precautions & Solutions

    Educate your employees

    First of all, an angry employee is a major vulnerability for any company. Be nice to your employees and educate them about the strong 8 Characters long passwords. Train them on how they can mistakenly leak the company’s data and how to avoid doing so.Make them aware about using their personal social media accounts using a personal setup instead of the organization’s for additional security. Along with this, providing security training for enforcing two-factor authentication and RBCA (Role based access) can be rendered helpful.

    Cohesive Security Culture

    Following a strict standard and cohesive security culture will save you a big time trouble and this simply includes following simple tasks like ‘Getting rid of paper’. Any information on paper that might track down your data should be shredded immediately once it’s no longer needed. This includes any sort of document, receipts with account details, transaction papers etc.

    Hiring a Security resource

    Investing in a person who will look after your data and its security is far better than handling it yourself. It is advisable to invest in a security engineer who will deal efficiently with the organization’s security matters.

    Educate your customers

    Educating your customers is highly recommended.Ensure that your customers are well aware about online fraudsters and ATO. Help them to understand the safety measures required to protect their data . This will also give you a few extra brownie points as you care for your customers and will surely gain their trust.One doesn’t have to be convinced about the importance of security. It is always accurate to be in control of all your belongings.

    Hard Work doesn’t happen overnight and therefore, it is imperative to rectify and amend the necessary steps for you to reach your goals.

  • The Latest Development About Business Model Of Amazon Prime That You Have To Know

    Amazon is the world’s leading e commerce business with an annual turnover of over $100 billion  and its growth is still exponential.  At the same time, Amazon is one of the world’s leading membership businesses with Amazon Prime.  The service is believed to have more than 80 million members worldwide.

    Amazon Prime is considered an important part of Amazon’s great success.  Amazon Prime members pay an annual amount of $99 or a monthly amount of $10.99 and receive free two-day delivery on over 15 million different items.  In addition, Amazon provides various content including data storage, movies and music to its core members.

    Amazon Prime Logo

    Amazon Prime Objective

    The primary objective of Amazon Prime is to create loyalty between Amazon and its customers.  When the customer has paid $99 or $10.99  for free delivery, he will wish to get the most from the already paid membership fee.  In other words, Prime Members get what we call ‘Golden Handcuffs’ within the subscription industry;  Benefits for customers.  As a result, Prime Members spend three times as much money as non-members on Amazon.com in addition to the membership fee.

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    Prime is not only critical of Amazon’s current business, with one-third of Amazon’s business derived from Prime membership.  Prime is also an important part of Amazon’s strategy for the future that revolves around the complete disintegration of the interaction between e-commerce and retail and the dominance of the same-day distribution market.Amazon has entered the market for groceries in the US, winning a position as a same-day delivery dominator in the market. Amazon Fresh delivers groceries and other goods directly to the customer’s doorstep, the day the goods are ordered.  Prime also plays an important role here.

    A Prime Fresh subscription at an annual amount of $299 gives customers free delivery of groceries as they often like Other retail and grocery businesses have much to learn from the success of Amazon’s membership.  Businesses have the opportunity to tie customers closer to the business through a membership that builds loyalty and makes the customer spend more on your business and less with competitors. It is very likely that we will see substantial use of the membership model within both the retail market and the grocery market – as we have seen it in other industries over the years

    Other Prime Service

    Amazon Prime Service

    Amazon Prime Music

    Prime Music is Amazon’s music streaming service.  Here users get access to over one million songs, which can be freely downloaded in the “Prime-Library”.  Prime users have the opportunity to purchase CDs at a lower price than usual, even though these purchases are rare at these times.  Compared to Spotify and other music services, Prime Music’s selection is not volatile, as contestants have more than 20 million songs available, but simply that the selection doesn’t exist is incredibly important and gives loyal customers their money.  Gives good value.

    Amazon Mom

    Prime has further membership.  As a Prime Subscriber, it is possible to subscribe as a parent or a family member and thus save 15-20 percent on diapers and similar products.  However, the name has been in the news a bit and has since been changed to the more appropriate “Amazon Family”

    Amazon Cloud Drive

    Amazon cloud drive is Amazon’s “cloud storage”;  Amazon’s response to Dropbox.  Here, users can store files from their computer, so that it is backed up and so that computer memory is not filled.

    Amazon Studio

    Amazon Studio is an additional step in Amazon’s long-term plan to reach as many users as possible.  Amazon Studios Amazon has its own film production service and intends to produce both TV series and films.

    Amazon Prime Instant Video

    The video service competes with some relatively big players, including Netflix, Hulu and HBO.  However, there are many indications that Prime Instant Video is a major success, especially in terms of getting users to subscribe to Prime or getting users to keep up with Prime

    Amazon Prime Two Day Delivery

    It was from here that it started.  For six years, Prime was only a two-day delivery service and was a real success for subscribers.  It was possible to get free delivery with your purchase if you ordered more than $25 and were not a Prime Customer – but as a Prime Customer you could order anything without paying for transportation.  Of course, you have indirectly paid for the load – as an annual payment – but in the end most customers have made the most of the savings on free transport or paid in the subscription amount.

    Amazon Prime Kindle Service

    39 percent of Amazon consumers in the US reportedly own a Kindle reader.  Kindle users, who are not necessarily prime subscribers, are often referred to as good subscribers as prime subscribers, as they make more purchases than the “standard” customer.  Kindle is the name of Amazon’s e-book reader, which gives users the possibility to buy, download and read e-books anytime on their tablet.  Kindle also works with Prime Library, which gives Prime customers the possibility to borrow e-books for free from a website or app

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    Learning From Amazon Prime

    In 26 years, Amazon has managed to grow to be the world’s most successful e commerce company with an annual turnover of over $130 billion and a market value of around  $470 billion.  Nevertheless, the company still finds itself in the “Day One” in the development of e-commerce, as the vast majority of business between companies and individuals is still physical and psychologically driven by customers into a store or supermarket  .  This is what Amazon wants to change.

    According to Jeff Bezos and Amazon this change will only happen if e-commerce is cheaper, faster and easier for the customer in the future, as the customer has to go to the local store or supermarket.  Therefore, the customer, when he is shopping online, must have access to the best and largest selection of items.  More importantly, the goods have to be delivered quickly and most often on the same day.

    One of the most surprising levers in the making of this change is Amazon turning its customers into customers.  The membership model is otherwise not an everyday look in the retail or grocery industry.  In fact, it is virtually non-existent, but Amazon has reinforced and revolutionized the concept of membership, and created a very strong formula for customer loyalty with Amazon Prime.  In fact, to the extent that it is believed that Amazon has more than 60 million customers worldwide – and is still growing

  • Which of BIG 4 Companies will Fail/Replace First ? Lets Checkout !

    Will companies like Google, Facebook, Amazon, Microsoft fail?

    The future is highly uncertain and especially in the business world, where in one minute you can lose the glory of years. The business owners whether they are big or small has to be on the edge you never know when the fate turns and your billion dollars company scums to ground. Companies fail when they fail to adapt to the changing markets. Well, today we are going to discuss the business uncertainty issue by taking the examples of few big daddy’s of the business industry. Well, if we ask any amateur to name four world famous companies and trust me 99% folks will name Google, Facebook, Amazon, and Microsoft. These four companies are very famous and it’s hard to not know about them.

    “The point is, you can’t keep doing the same thing and expect it to keep working. We had to do something different, but the really hard question was, What is it? We made plenty of mistakes along the way to answering that question, but the most important thing we identified was that we needed to know more about our customers and what problems they were really trying to solve in their businesses–even if they didn’t neatly fit into an existing category of ours.“
    – Michael Dell

    But, have you ever wondered which of these four multi nation brands will fail first and what will be the factors behind the fall down of these big sharks. Okay, so there are mainly two main grounds which will decide the success of any company. The two criteria points to examine the fall down are:

    1. The number of talent retention and the success rate of the employees.
    2. The revenue generation and method of revenue.

    So, on the ground of these two major factors let’s examine which organization will fall first individually.

    Google

    Google is dominating search engine since many years. Right now there is no strong competitor for Google.

    Okay, on the grounds of employees retention and attracting the talent, Google has been the top company since 2003. The Google is the best talent attractor when it comes to large public companies. It has been the #1 Public company for over a decades. Google is still holding its foundation as a top company to work. From about 5000 employees in 2005 to about 70,000 in 2017, it is amazing that Google is able to maintain its top position with respect to quality of the hires. The companies who are able to over power Google are Uber and Airburn. That’s only because they are unicorns and it is easy for them to hire/ retain employees.

    Google Revenue Source

    The regular source of revenue for the Google will be the income generated from the advertisement and YouTube. The Google AdSense is the hub of advertisement and every blogger or website designer go for advertisement on Google only. To be honest, YouTube is very steady, so on the grounds of income Google is way more stable. Similarly, Google is also taking control over smartphone market, PC market with their Google Pixel and Chromebook. They are not relying on only-ads anymore. So, I guess it seems difficult that Google will fall.

    Facebook

    Facebook has been a top company for about seven years now. During 2007–20011, the talent index at Facebook was identical to Google. Right now Facebook is the second best public company when it comes to talent attraction. But recently few changes in the Facebook talent index decrypted as they are losing some good talent to the unicorns.  So, this is interesting to see the talent shift in Facebook headquarters, but still, Mark has few tricks up his sleeves to prevent this downfall.

    Facebook Revenue Source

    Facebook does not make any hardware so the major source of Facebook income is the advertisement and the information of their users. Facebook mainly relies on a single product that only works if it can retain its userbase of billions of people. Many other social media platforms like Instagram, Quora, Medium & Twitter are becoming popular. If it looses users on its application due to cases like Cambridge Analytica and privacy issues, it will be difficult for Facebook to survive.

    Amazon

    Amazon is also ranked in the top ten company list and is ranked #3 among public companies for talent index. Although there was a tight tussle between Google, Facebook, and Amazon a few years back, the order now seems settled. Amazon comes ahead of other public companies like Linkedin, Salesforce, Apple, and Workday.

    Amazon Revenue Source

    The company earns their revenue from buying and selling. Amazon has a unique business model.  Amazon shares have been in pretty good condition recently due to their new addition to grocery shopping and new product such as echo. The CEO Jefferson also become the richest person in the world beating the Microsoft CEO this year. That tells the stable economic condition of the company. With smart phones/e-commerce/prime/AWS, Amazon will likely to survive.

    Microsoft

    Microsoft is a HUGE company ! It’s twice as big as Google when it comes to the number of employees. It has been around forever. Right now Microsoft’s talent index is not in the same league as the other companies mentioned here. The inflow of talent at Microsoft is very different compared to Google/Facebook/Amazon. Microsoft was ranked in the top ten until 2010. From then, there has been a steady decline in talent. It is currently ranked #47. Microsoft has clearly lost the cool factor that it had during the last decade.

    Microsoft Revenue Source

    Microsoft has few big brands under their name. They earn income from computers, phones, and corporate solution, and to be the clear demand of these products is going nowhere in the near future. So, Microsoft is safe here and they are competent enough to change their approach as per the situation demand. It is very less likely to fall since it has its revenue spilt over various products.

    Conclusion:

    To be honest above mention all company are highly stable in their grounds and they have reached the position, where they are safe. There might ups and downs within these four companies, but in near future, they are going nowhere.

  • Google Shopping- A Smart and Free Way of Attracting New Opportunities.

    Google has announced that they will be allowing the merchants to list their products on Google Shopping search results for free of cost starting with the US and to be continued in the whole world. This is one of the new way to kick start their work while helping the retailers to sell their product and asking the ads merchants to take the advantage of this new opportunity in the person of lockdown. The main concentration of Google in this case is to revive their revenue source in this difficult situation where they are not having work due to complete global lockdown. Google Shopping ads now drive 76.4% of retail search ad spend, generating 85.3% of all clicks on Adwords or Google Shopping campaign ads. Let us discuss that weather this initiative will be going to be a boon or a bane for Google.

    Benefits of the Google shopping campaign

    Benefits of the Google shopping campaign
    Benefits of the Google shopping campaign

    The Google has shown the benefits and the interest of all 3 sections of the society (retailers, shoppers and ads merchants) who are directly connected with the Google shopping facility.

    • The change given in Google shopping, in the product search offering will help the retailers in such a way that; -now they will be able to get free exposure and experience to millions of people( new and existing) who come to Google every day for fulfilling their required shopping products and materials.
    • Like the retailers, the shoppers will be able to get more choices over the product and the brands over better pricing from more stores due to the new campaign by Google Shopping. This will be all possible on discovery through the Google Shopping tab on the Google search platform or Google search engine.
    • The advertisers will also get the benefit of this new facility provided by Google shopping in such a manner that, now they will be getting a new section for running paid campaigns because of this free listings on Google shopping tab. The Ads merchant will be able to get the advantage of the free listings, and this will inspire the new Ads merchant to work in this streamline and make it a new source of revenue.

    Also Read: Things To Remember Before Buying From AliExpress

    Partnership in Google shopping campaign

    Partnership in Google shopping campaign
    Partnership in Google shopping campaign

    Google has also made a new partnership with many other platforms for the Google Shopping tab that are working in the same field and helping the businesses by providing their premium facilities. These platform include

    Also Read: Flipkart – Bringing Products at Your Fingertips

    Reason behind the Google shopping campaign

    During the period of COVID-19 and so far, Amazon’s trillion-dollar company, Jeff Bezos has been considered, the most notable winner in terms of business working and expansion who has added  $24 billion in his total wealth from the same time, the global shutdown began. While on the other hand, the tech giants like Google and Facebook who are having all their revenue from ads are facing heavy crisis, as there is no business in the world and so, advertisers has cut a big portion from their 2020 marketing budgets. This has pushed the tech giant like Google in the back-foot. The company is now trying to search a new source income in the person of global lockdown.

    Since, all the businesses are shut down in this time period except the e-commerce and the basic utility business so, this tech giant is also trying all it’s strategies in the same sector by just integrating it their own business model and making this facility, free for all.

  • Examples of Great Customer Service

    Great customer service is one of the most important aspects of the business. We hear a lot of stories and there occurs a huge amount of negative coverage about companies that deliver poor customer service, and we don’t hear a lot about companies who are doing it right. At this age, it is essential to stand out and one needs to rethink and improve customer service.

    According to American Express, consumers allow themselves to spend 17 percent more when working with companies that are known for delivering excellent customer service.

    Especially in the digital world, where a consumer is encouraged to check reviews and find out how other customers have interacted with a company before engaging with them. Good customer service has become ever more important. While several factors can affect the experience of a customer, customer service is one of the top indicators of how your brand or company is perceived as.

    Customer Service is especially important for small businesses and startups. This is one aspect that they can control and use to effectively compete against big companies. You can’t control your competition, but the type and quality of customer service you provide are completely in your hands. This is why you should put extra focus on trying to up your customer service.

    Now a days every business use Customer Experience Management Software to increase the costumer satisfaction.

    Also read : Top 10 customer support solutions

    However, as it can be hard to figure out what changes your customer service needs, here are a few examples of exceptional customer service and how you can learn from these companies –

    Amazon

    Great customer service
    Customer Service by amazon

    Amazon is one of the most quoted examples when talking about great customer service. But what makes them exceptional? This widespread eCommerce company keeps customer service as their priority, along with dedicated and extensive help pages and multiple ways to contact them for help. Its return policy is also an excellent example of how they keep put customers first. They have often put customer service as a priority in ways that cost them their profit. But it ensures a lifetime of loyal customers and good publicity.

    Jeff Bezos, the CEO of Amazon himself says “We’re not competitor obsessed, we’re customer-obsessed, we start with what the customer needs and we work backward.” This kind of dedication, when it starts at the top of the company and trickles down throughout is when you know a company has great customer service.

    Also read : Survey of customer satisfaction by online giants.

    Spotify

    Great Customer Service
    Music by Spotify 

    Spotify’s design and program itself is created in a way that it learns a user’s preferences by screening their music taste and songs, and uses this information by creating and providing personalized playlists as well as radio stations. Spotify tries to make interacting with customers and providing customer service fun, it has started a practice in which customers who tweet questions to their company are sent individual playlists designed in a way that it answers their questions. It also releases themed playlists in correlation with pop culture themes and popular styles. It is important to make your customer service fun and personalized and have a prompt social media team, which attracts customers.

    Lyft

    Costumer Service at its best
    customer service by lyft

    Lyft keeps up to date and focuses on issues that pertain to the real world. For instance, with the recent rise in awareness of global warming and the seriousness of this situation, Lyft announced a commitment towards minimizing the harmful extensive environmental impact of a large number of car rides it provides every day and declared all of its rides to be carbon neutral by purchasing carbon offsets. Lyft has also contributed around a million dollars to the American Civil Liberties Union (ACLU), to help them fight against an executive order that restricted immigration from Muslim-majority countries to the United States of America. Lyft is focused on current issues that are important to customers with various initiatives like these.

    An essential part of great customer service is to be aware of current affairs and take action when it is needed. Millennials are especially interested in doing business with companies that use their resources to give back to those in need and have similar interests. Many customers believe that it essential for companies to take stands on current issues.

    Coca – Cola

    Costumer service
    customer service coca cola 

    Coca Cola is also one of the brands that focus on social issues and strives to make a change at the core level. One of the most important aspects is that they not only donate to big charity or organizations but also have initiated efforts to pump money into local charities. Coca Cola started a ‘Thank You Fund’ based in Ireland wherein they have tried to fund projects that inspire and support young people in Ireland and Northern Ireland, along with their partners Irish Youth Foundation and Youth Action Northern Ireland. It has donated around 900 Euros with this initiative to local charities and non-profit organizations.

    Ritz-Carlton Hotel

    Costumer service at it's best
    Great customer service by Ritz-Carlton

    A very important facet of great customer service is high levels of employee satisfaction and engagement. They are so deep commitment to the idea of exceptional customer service, that they have given any employee the power to spend up to $2,000 per day to improve the stay of guests. John R. DiJulius is the President of a leading customer experience consulting group, who has written about the customer service of Ritz Carlton Hotel in his book.

    DiJulius accidentally left his laptop charger behind in one of their hotels when he left. The hotel sent him a next-day air package with his charger, along with an extra charger. The package carried a note personally signed by someone from the hotel’s Loss Prevention department which said “Mr. DiJulius, I wanted to make sure we got this to you right away. I am sure you need it, and, just in case, I sent you an extra charger for your laptop.”

    This level of customer service was only made possible by empowering their employees, by which they felt more engaged and took on more responsibility.

    And even if you don’t have a large budget like that of this hotel chain, it is possible to keep your employees engaged through different means, or having a smaller budget to wow and give customers a memorable experience.

    Customer Service is not limited and companies can be very open and creative about the kind of experience they want their customers to have. Be as open when interacting with customers, keep your employees engaged and empowered to bring more customer loyalty and focus on what the customers want, and basing your business model around it instead of having it the other way around. Having great customer service will make you stand out and it is the one thing you can control, especially while competing with business giants.

  • How Hiring is Affected due to Coronavirus Outbreak?

    Coronavirus outbreak has already affected many sectors of human life right from restaurants, food chains, tourism, airlines, sporting events to film industry also which is eventually leading to economic slowdown in many countries. While the various countries are continuing to prepare and practice social distancing and self-quarantine during this COVID-19 pandemic, companies are looking for workers to help restock empty shelves and deliver orders to home-bound customers.  In addition to this, of course, Coronavirus outbreak is also having a significant impact on the jobs market, employers plans to hire and the recruitment industry as a whole, experts have warned. Many industry executives & experts have stated their views towards coronavirus impact on  recruitment industry and hiring.

    What Experts say about Impact on Recruitment –

    Lee Biggins – CEO and the founder of CV-Library
    Lee Biggins has stated, “No doubt that the Coronavirus outbreak will have significant consequences for the recruitment industry as a whole”. He further added, “We’re already hearing feedback that employers​ are pausing their hiring plans while they wait for the worst to pass.”
    Steve Blank – a retired serial entrepreneur-turned-educator
    Steve has said, “It’s no longer business as usual for the rest of the economy. In fact, shutting down the economy for a pandemic has never happened. Millions of jobs may be lost in the next few months, as entire industries are devastated, something not seen since the Great Depression of 1929-39. I hope I’m very wrong, but the social and economic impacts of this virus are likely to be profound and will change how we shop, travel, and work for years.”
    Kamal Karanth – Co-founder of staffing solutions provider Xpheno
    Karanth has said, “Several India entry projects are getting or likely to get postponed. Senior-level hiring, which is considered as critical hiring in any industry and usually remains insulated from various other factors, is likely to be pushed back for some months.”
    Jamie Dimon –  CEO of JPMorgan Chase
    Jamie Dimon has quoted that it expected the U.S. economy to contract in the first two quarters of the year, which would meet a common definition of a recession.

    Also Read: Effect of Coronavirus Crisis on Employment

    Many companies to Freeze their Hiring operations

    According to reports, employment in Britain hit a record high in January before the Coronavirus outbreak but now the country is facing for a great wave of job losses. According to official figures, hiring of many firms & companies has been frozen there amid the crisis. Some companies have moved to freeze hiring until the economic impact of the virus is made clear, but many others are continuing to recruit in a bid to prevent a business slowdown. Several companies in India and across the world have already cancelled or postponed interviews. Some of them are turning to video calls, where possible, as they are unable to travel for face-to-face interactions, which is important in senior hires. Many reports state that hiring is likely to be delayed or pushed back by at least a quarter as the COVID-19 pandemic forces companies to suspend projects and find immediate ways to cope with the situation.

    Usually, hiring of senior or top executives such as chief executives and operations and finance chiefs is also likely to be delayed by quarter as companies and senior executives are unable to travel. As senior-level hiring needs significant face-to-face interaction to get known about the candidate, interviews are getting pushed and indefinitely postponed. Similarly, the startup are also going to be affected due to coronavirus outbreak.  For instance, in the startup ecosystem, hiring has been decided based on the growth plans they have but now many of them are unable to proceed further because They have fewer cash reserves and a smaller margin of error for managing sudden downturns. The ripple and feedback effect of all of these closures will have a major impact on country’s  economy as each industry that gets impacted puts people out of work  and those laid off workers don’t buy products and services. While according to some experts, the real impact of the COVID-19 outbreak on hiring in India will take 3-4 weeks to gauge.

    Many Companies are still Recruiting Candidates

    It’s important to note that the candidate market has always been competitive pre-coronavirus and companies have continued to take their time to process candidates and hire the best person for the job. That’s not going to change ever.  As the coronavirus pandemic continues to affect economies across the globe, few industries still have been left untouched by the fallout, and that’s having huge implications not only for the workforce but also the recruitment process. Many experts said that there is still hope for the recruitment industry, as many employers would continue to hire for essential roles and some sectors – such as health and social care and logistics were already recruiting more workers.

    Also Read: Companies are Asking their Employees to Work from Home due to CoronaVirus

    Lately, online e-commerce giant Amazon made headlines when the company announced it is looking to hire 100,000 workers for warehouse and delivery positions. Meijer, American Supermarket company, is also hiring additional seasonal team members in each of their stores to meet the demands of the business. Cosco says it to is looking for workers to help keep its inventory moving to meet customer demand. Walmart is looking for employees to add to its delivery drivers.

    All above information just comes down to the fact that Not every industry slows down in an economic downturn and not every company within an industry slows down. The bottom line is people get hired during layoffs and hires happen even when things slow down. Hiring will speed up or slow down within an organization based on their strategic plans for the year not solely because of a virus.