DEV Community: Praveen Mishra

10 Best Companies for Full Stack Developers

Praveen Mishra — Mon, 11 Apr 2022 11:34:42 +0000

Gaining mastery over a particular aspect of technology comes with its own set of advantages but being a specialist in one’s field is to be the master of all the trades!

With the rapid evolution of technology, business owners and start-ups have started to look for talented developers who are able to work on both the front and back-end development to create a usable end product.

This is where “full-stack developers” brought out their A-game! A term that gained huge momentum in the late 2000s is now out there ruling the world of tech!

According to the U.S. Bureau of Labor and Statistics (BLS), the job growth for full-stack developers will surge to about 27 percent by 2024. This article will help you navigate through some of the best companies for full-stack developers in the world!

When the stack became more layered and technology became even more complex, front-end developers and back-end developers witnessed a surge in demand as they specialized in that particular process of development.

However, full-stack web developers regained traction as they weren’t just front-end or back-end developers but they were the ones who handled both the front-end and back-end development process.

Now it is finally possible for a person to develop a consumer or SaaS site that could build feasible applications and end-to-end websites through full-stack development services.

Now that AI has become even more prevalent in the workplace, having full-stack developers in the team who are skilled at understanding all of your systems and processes, who can spot the errors at the front-end and back-end and can bridge the gap between the two is the best value addition to your company!

To help you make the right decision for your organization, here’s a list of the best companies for full-stack developers in the world:

1. ScienceSoft
2. Resourcifi
3. Blue Label Labs
4. Gorilla Logic
5. Rightpoint
6. Camber Creative
7. Urban Insight
8. Infinum
9. mTraction Enterprise
10. Icreon

Let's dive into these 10 best companies for full stack developers in detail.

Note: The below mentioned top companies for Full Stack Developers have been shortlisted based on —

Quality of Work and Acceptable Prices
Google’s Organic Ranking
Review and Ratings on Clutch
Client Testimonials
Annual Cumulative Growth Rate of the Company

ScienceSoft

FOUNDED: 1989
EMPLOYEES: 500 - 1,000
MINIMUM PROJECT SIZE: Undisclosed
AVG HOURLY RATE: $50 - $99
LOCATION: McKinsey, TX.
TOP CLIENTS: Walmart, eBay, NASA JPL, PerkinElmer, Baxter, IBM, Leo Burnett

Being one of the leading best companies for full-stack developers, ScienceSoft has over 33 years of experience in outsourced software development. They offer staff augmentation, dedicated team, and full process outsourcing services.

ScienceSoft’s team is comprised of experience software developers with 9 year of experience on average. They are well-versed in all key development technologies and innovations (ML, AI, blockchain, etc.), experienced in Agile, Kanban and Scrum (led by certified Scrum Masters), as well as have in-depth knowledge of over 30 industries.

The onboarding of the team is fast and projects usually start within just 1-2 weeks.

Resourcifi

FOUNDED: 2009
EMPLOYEES: 300+
MINIMUM PROJECT SIZE: $25,000
AVG HOURLY RATE: $25
LOCATION: Delaware, USA
TOP CLIENTS: Stanford University, Snacking, Dow, Philosophy Talk, Proximity Learning

Ranked as 4.7/5 on Clutch, Resourcifi is one of the best companies for full-stack developers in the world that offer a myriad of service expertise and digital solutions to help you optimize the success of your business.

Being one of the best companies of full-stack developers in India and the USA, Resourcifi provides its development technologies and other services across the globe with teams that specialize in Mobile app development, Full Stack Development, Quality Assurance Testing, UX/UI Design, Native and Hybrid app development, Digital Marketing, and more.

Through their eloquent years of experience, they have diversified their portfolio by providing their services to several industries such as Healthcare, Education, Travel, and Tourism, Finance, Automobile, etc.

Resourcifi offers a flexible engagement model by enabling you to hire as per your project requirement and for what duration you require these services. You can hire a full-stack developer on a project-basis (contractual), part-time, or full-time basis.

Resourcifi’s team of full-stack developers provides its clients with the best full-stack development services by ensuring that your development processes include all of the latest trends that make you more relevant and upcoming!

Being the best companies of full-stack developers in India and the USA, they gained immense business acumen from a diverse network that has allowed Resourcifi to foster long-term partnerships with dynamic and reputed companies.

Blue Label Labs

FOUNDED: 2009
EMPLOYEES: 50 - 249
MINIMUM PROJECT SIZE: $75,000
AVG HOURLY RATE: $100 - $149
LOCATION: New York, NY
TOP CLIENTS: Bloomberg News, Microsoft, Google/Alphabet, Fender, PayPal

Blue Label Labs is one of the best companies for full-stack developers in the world, they work side-by-side with ambitious Fortune 500 companies, great start-ups, and brands to make bolder choices by uncovering transformative change brought through customer-centric digital solutions and truly user-validated digital products.

With years of expertise and experience behind every offering, their team has successfully empowered businesses by offering advanced, large-scale, interactive, and dynamic websites that consistently outperform previous solutions in various dimensions of credibility, engagement, market positioning, quality leads, online conversion, thought leadership, and purchases.

Being the best companies for full-stack developers in the world, their services include impactful engineering, user-centric design, and strategic business consulting.

Gorilla Logic

FOUNDED: 2002
EMPLOYEES: 250 - 999
MINIMUM PROJECT SIZE: $250,000+
AVG HOURLY RATE: $50 - $99
LOCATION: Broomfield, CO
TOP CLIENTS: A Place for Mom, Arrow Electronics, DaVita, Maxar, Gaia

Gorilla Logic is the best company for full-stack developers helping Fortune 500 and SMB companies extend their benefits of business agility and development to large-scale and distributed environments.

Their custom-built Agile teams are well-equipped at aligning technological processes to build great products driving innovation, growth, and profitability.

Contributing greatness in your development project with unparalleled expertise they deliver full-stack web apps as well as mobile, and enterprise apps.

Gorilla Logic has its headquarters and centers in places like Colorado, San José, Medellín, Colombia, and Costa Rica.

As one of the best companies for full-stack developers in the world, they together build high-performance integrated teams based on top-quality talent. These highly-collaborative teams work dedicatedly to deliver game-changing results on even the most difficult projects.

Gorilla Logic seeks to inspire confidence in its services by ensuring an optimal level of flexibility, control, and transparency in its processes.

Their core area of practice and services include web application development (front-end and back-end), mobile app development, UX/UI Designs, DevOps. QA, Agile, Security, Big Data, Data Science, AI, and IoT.

RightPoint

FOUNDED: 2009
EMPLOYEES: 1,000 - 9,999
MINIMUM PROJECT SIZE: $50,000+
AVG HOURLY RATE: $50 - $99
LOCATION: San Francisco, CA
TOP CLIENTS: Google, Rolls-Royce, Pinterest, EY, Urban Outfitters, SiriusXM, Motorola

Being one of the leading best companies for full-stack developers, RightPoint provides the best web development services through their high-quality custom web development processes. They are the geniuses behind architecting and engineering scalable and high-performing software solutions to ensure client satisfaction by meeting the goals of the business.

With their tech expertise gained over the years of cross-industry experience, they believe in bringing about a digital transformation that evolves into digital acceleration.

With the ultimate goal of creating an entire digital transformation journey, they provide the best cross-platform services.

With about more than 3,000+ seasoned engineers spread across 36 countries, they provide services aligned to different timezones to empower several other start-ups, leading brands, and Fortune 500 companies to conquer the tech landscape.

As one of the best companies for full-stack developers, their services are driven by talent and years of experience.

Camber Creative

FOUNDED: 2014
EMPLOYEES: 10 - 49
MINIMUM PROJECT SIZE: $25,000+
AVG HOURLY RATE: $100 - $149
LOCATION: Orlando, FL
TOP CLIENTS: Benefitfocus, AdventHealth, Florida Department of Transportation, BASF, Deluxe, BigCommerce

As one of the best companies for full-stack developers, Camber Creative is known to be a well-distributed team of digital product experts that work as an extension for your development projects, enterprise design, and marketing teams, as well as a fully-dedicated product team handling your major projects through their technology consulting and software engineering.

Having a team of expert designers and developers, they help businesses accelerate innovation by building products that matter and enrich lives.

As one of the best companies for full-stack developers in the world, they are a full-service digital product agency that delivers the best results at every stage of the product life cycle.

Being a full-stack software developer company, they offer services such as Product Strategy, Design & Prototyping, App & Web Development, Digital Marketing, IoT, cross-platform development, and other services through which they apply their value-driven approach to every product.

Urban Insight

FOUNDED: 2000
EMPLOYEES: 10 - 49
MINIMUM PROJECT SIZE: $50,000+
AVG HOURLY RATE: $150 - $199
LOCATION: Los Angeles, CA
TOP CLIENTS: American Library Association, Causeway Capital Management, City of Los Angeles

Being one of the best companies for full-stack developers, Urban Insight is considered to be the champions of your mission-focused organization that deliver the best full-stack development services by creating flexible and interactive websites and applications.

By ensuring that their processes and technical practices are built on strong project leadership, honest advice, and thoughtful design, they form a long-term collaboration with their clients.

Their services include strategy and planning, interactive designs, and creating innovative websites by using open sources web content management systems like Drupal and WordPress.

Their value proposition enables them to contribute with project management leadership, design sophistication, and technical expertise of an established firm at the price point of a boutique agency thereby, being one of the best companies for full-stack developers in the world.

Infinum

FOUNDED: 2005
EMPLOYEES: 50 - 249
MINIMUM PROJECT SIZE: $25,000+
AVG HOURLY RATE: $50 - $99
LOCATION: New York City, NY
TOP CLIENTS: Philips, Nike, Porsche, Coca Cola, T-Mobile, KPMG, WB Games

Since 2005, Infinum has gained a massive reputation by having partnered with leading companies and potential start-ups to build digital products, rated by Clutch as one of the best companies for full-stack developers in the world. Their work is used and recognized by millions around the globe such as trade and industry authorities such as Deloitte and Inc.

Their digital products offered by them are built to provide a diversified range of eye-catching landing pages, consumer-facing mobile apps, complex web applications, and back-office systems that have multiple levels of enterprise integration.

Having their operations based in the US and Europe, they have a thriving team of over 200 talented thinkers and doers that make them one of the best companies for full-stack developers in the world.

As a full-stack software development company, they design, build and scale up your business operations to provide you with authentic digital experiences delivering value and empowering your clients' business to accomplish their goals.

mTraction Enterprise

FOUNDED: 2009
EMPLOYEES: 10 - 49
MINIMUM PROJECT SIZE: $50,000+
AVG HOURLY RATE: $100 - $149
LOCATION: Manhattan Beach, CA
TOP CLIENTS: Gartner, McKinsey & Company, Honest Company, Razor, TravelStore

As one of the leading best companies for full-stack developers in the world, mTraction Enterprise has also been recognized as the leader in enterprise digital transformations by providing award-winning solutions that include global websites, brand strategy, UI/UX design, eCommerce, mobile app design, and web development.

The enterprise solutions provided by them are designed from scratch and strategically conceived to increase sales, strengthen your positions, and provide more flexibility and opportunities for growth.

Empowering B2B & B2C brands with these digital web providers, provide a powerful competitive advantage. Through expert guidance and exceptional service, their specialized team ensures to deliver results that exceed your expectations.

Being one of the best companies for full-stack developers in the world, the expert team of this digital agency consists of full-stack developers, marketers, strategists, analytics, user experience researchers, web design artists, mobile app designers, communication strategists, copywriters, and animators that work in a long-term collaboration with industry leaders.

Icreon

FOUNDED: 2000
EMPLOYEES: 250 - 999
MINIMUM PROJECT SIZE: $50,000+
AVG HOURLY RATE: $50 - $99
LOCATION: New York, NY
TOP CLIENTS: IMG Models, National Geographic Channel, FOX Movies

Icreon is a digital innovation agency rated as one of the best companies for full-stack developers that focuses on transforming customer experiences for their clients by automating business operations around the world.

Founded back in 2000, Icreon is a leading full-stack developer company that works with nonprofits, mid-market companies, and leading Fortune 500 brands across all industries.

Their processes involve reimagining clients’ technology ecosystems and analyzing it from top to bottom, front-end to back-end, to usher in a new era of digital maturity and transformation with their years of experience and expertise.

Being one of the best companies for full-stack developers in India and USA, Iceron is also recognized as a proud Sitecore Platinum Partner by providing award-winning digital transformation.

Icreon has built an international team of over 350 experts with a 97% client retention rate. Providing the best of its diversified services, it is headquartered in New York City, and also has offices established around the globe in D.C., Philadelphia, London, and a couple more.

Frequently Asked Questions

1. What are the benefits of hiring a full-stack Developer from one of the companies mentioned above?

The advantages of hiring full-stack Developers from any of the competitive lists of the best companies for full-stack developers in 2021-2022 are many:

Budget-Friendly
Expertise with the latest technologies
Recommended and reviewed by Clutch as the top-ranked
Availability of technical expertise and resources
Tuned workflow
Technical Support & Maintenance After the Launch

Each of these best companies for full-stack developers is selected by filtering them through important parameters such as the experience and expertise in designing skills, client’s review and feedback, market penetration of the brands, portfolio of the development company, and proficiency in the development process.

2. What is the general full-stack development process that is followed by these companies?

Although, all of the best companies for full-stack developers have their expert guidance, support, and services that these full-stack developers add to every process of app development services that they offer.

Concisely, the process should ideally involve three main layers – Presentation, Business Logic, and Database. A full-stack developer goes through the development process by following all of the steps from the conception of an idea to the actual finished product.

3. Why do big companies hire full-stack developers?

Companies now seek developers who have a diversified range of services to offer by having expertise and the agility to work on various domains and fulfill multiple roles, as opposed to hiring many who specialize in a particular niche.

Not only is this a more cost-effective method but this enables one person to completely immerse themselves into the intricacies of the project and manage every aspect of the development project, thereby, avoiding miscommunication and creation of more knowledge silos.

Top 10 React Development Companies in 2021

Praveen Mishra — Wed, 31 Mar 2021 14:33:12 +0000

Believe what you see, not what you hear!

Have you heard of that before? Let’s be honest. There are a number of React development companies out there and rightfully so. With globalization, a company’s geographical location is no more a hindrance to the accessibility of its services.

A google search for top React development companies only shows you how good the company’s SEO team is, but what about their React development teams?

As I said, believe what you see, not what you hear.

In a time where the world is so connected with the help of technology, the only thing one must consider is “Skills” and “Industry Experience”. Factors like location, the size of these teams, and how long they’ve been in business have become secondary.

When partnering with a React development company, its portfolio and work can tell a lot about them. With that in mind, I have curated a list of the top 10 React development companies in 2021. For each of these companies, I have included one of the projects they have worked on.

Here is a snippet of all the top 10 React development companies in 2021 -

Belitsoft
Resourcifi Inc.
ScienceSoft
ChopDawg
Rootstrap
Table XI
STRV
Saritasa
Blue Label Labs
Lithios

Let's talk about these top 10 React development companies in detail.

Belitsoft

Founded in 2004, Belitsoft is a team of 400+ software development experts who provide full-cycle software and React development services.

The company is a reliable partner for clients in the US, the UK, and the EU including both small businesses and companies with thousands of employees.

Belitsoft specializes in software development for eLearning, Healthcare, FinTech, Artificial Intelligence, and complex projects of more than 2000 hours. Their TOP clients are Technicolor SA, ElearningForce, Insly, IDT Corporation, CRIMSON, NEDAP, Berkeley University, Aalborg University, Ticken.nl.

Project Name - EzyEducation

Belitsoft worked with EzyEducation to develop bespoke eLearning web app for school and university teachers. This eLearning platform was created to help teachers do their job more effectively by providing an “off the self” and flipped learning package.

The platform was intended for British schools and students. A large share of content was to be delivered as video courses and formative assessments, so we needed to make sure the system can support numerous connections and playbacks. Right now, EzyEducation hosts about 16,000 educational videos on Maths, Science, Economics, and Business that are compliant with the relevant UK exam board requirements.

Resourcifi

Having served hundreds of clients, Resourcifi is definitely one of the top 10 React development companies in 2021 you can check out. Based out of Delaware, they have over 200+ proficient in-house developers with experience of 5 - 7 years. Resourcifi provides a wide array of services but React has always been their most potent front.

Being one of the top 10 React development companies, they can help you build web apps that are second to none. Ever since its inception in 2009, Resourcifi has been building excellent mobile, and web applications for a range of industries, including banking, healthcare, and gaming.

Project Name - SilkWater

SilkWater wanted to build a leading farming solution that endeavors to maximize profits for the farmers. Resourcifi suggested they build a mobile app to facilitate a better user experience.

The top React development company helped SilkWater by introducing various features in their mobile app that empowered the farmers. These features allowed the farmers to create their own profiles and enabled them to update their information on the app every day regarding their daily spends. The new app also helped SilkWater ensure a safe payment transfer by integrating a safe payment gateway using Stripe and PayPal.

ScienceSoft

Founded in 1989 and headquartered in McKinney, Texas, ScienceSoft is a software development vendor with a focus on web and mobile applications. The company’s hallmark projects include the development of mobile and web IPTV/SVOD solutions that power BBC, Discovery Group, and MTV and the delivery of the Viber messenger (1.17B downloads) to Android and web.

In React.js and React Native since 2013 and 2015 respectively, ScienceSoft is among the most experienced React development companies. Having over 90 React developers on board, the vendor has successfully delivered web and mobile React-based projects for healthcare, insurance, retail, and other industries.

Project Name – Connected Care

ScienceSoft used React Native to build a cross-platform mobile solution that streamlines communication between patients and caregivers in healthcare facilities. A patient app provides secure access to personal health data and allows patients to contact care team members. A caregiver app enables prompt notifications about health status changes and makes it easy to contact both patients and coworkers.

With the help of the mobile solution delivered by ScienceSoft, healthcare professionals can be more flexible and patients receive more proactive care.

ChopDawg

Since 2009, ChopDawg has helped launch 350+ next-generation apps for startups and growing companies across industries and around the world. With a decade-long experience in building web and mobile apps, ChopDawg has made its mark in the industry as one of the top 10 React development companies.

ChopDawg has a workforce of about 50 and they operate in full transparency. They are known for providing detailed project roadmaps and deliverable schedules, with quick response times.

Project Name - Mister Softee

Mister Softee partnered with ChopDawg in order to build a mobile app that would let anyone locate their truck in real-time - where it’s headed, and how far it is from them. The intention of building the app was to empower the people, making sure they never miss the ice cream truck.

The app allowed tracking the truck and receiving notifications when the truck was around with the use of geolocation devices. Mister Softee created a Native app for Mister Softee and here are some of the technologies that they used to create the Mister Softee app.

Rootstrap

Rootstrap is a pioneer in building flawless web applications and mobile app solutions for businesses across the globe. They are not limited to any industry and are committed to delivering services that are customized to the needs and the requirements of their clients.

Rootstrap focuses on developing, designing, and delivering robust web and app solutions keeping today’s scenario in mind. Being one of the top 10 React development companies, Rootstrap's list of clientele is huge and includes big names like KIA and Epson.

Project Name - Breakthrough App

Tony Robbins built a coaching empire through traditional means such as books, pamphlets, and CDs. He came to Rootstrap with the intention of bringing his content into the digital space.

As a top React development company, Rootstrap worked its way for 3 weeks straight to come up with a roadmap workshop. They designed a responsive and engaging mobile content distribution system for Tony to help him build his app. Rootstrap helped Tony exceed the investment in less than a month. Rootstrap built the Tony Robbins app using Swift and React Native. They made it available on iOS and Android. Rootstrap used Ruby on Rails for the app’s backend.

Table XI

Table XI is a well-known React dev company with years of experience in building integrated web applications, mobile apps, and custom digital experiences.

With the kind of experience this company has gained in the past years, the development team at Table XI has the capability to leverage the latest technologies to build phenomenal web applications and mobile solutions for their clients across industries.

Project Name - JAMA Network

JAMA Network was determined to facilitate the new generation of doctors with resources and everything else on a smartphone. They essentially approached Table XI to build an app that would be capable of engaging young professionals. Table XI and Jama came together to build a dynamic mobile app facilitating modern needs.

Table XI understood that JAMA would essentially need an app that would work on iOS and Android, and they knew that React Native would be the best solution for them allowing us to launch on iOS followed by porting it over to Android. This helped JAMA save a lot of time, a lot of money and allowed JAMA to come up and deliver a seamless product.

STRV

Having launched more than seventy digital solutions every year, STRV stands out not with a wordy promise, but with a bulletproof track record. This top React development company has been building web apps and mobile apps for the past decade and they have helped hundreds of companies, startups, and enterprises with their custom requirements.

Being one of the top 10 React development companies, STRV is one company that offers valuable mobile and web solutions and is skilled and experienced enough to deliver problem-solving business solutions, regardless of the industry.

Project Name - ClassDojo

ClassDojo was on a mission to take education to the next level using communication and allowing sharing of knowledge and resources amongst teachers and students. Soon they realized the need for a fast, user-friendly, and engaging app. That’s when they reached out to STRV.

Being a top React Development company, STRV completely ramped up the process by allocating eight dedicated developers with a straight objective of building an intuitive app for ClassDojo. They built a thoughtful and intuitive app designed to serve millions of users and to evolve at the speed of education.

Saritasa

Saritasa is a reputed React dev solutions provider that can implement the design, development, and integration of complex technologies. This top React dev company makes sure that they are on top of their game by staying up to date with all the new cutting-edge technologies.

Being one of the top 10 React development companies, Saritasa brings together the client requirements and their skilled developers on the table together to deliver robust solutions made with React, for businesses across various industries and domains.

Project Name - OpenHouseDay

OpenHouseDay is a platform that facilitates potential buyers the chance to visit homes and allows the seller to let the potential buyer know the pros and highlights of the property, first hand.

OpenHouse reached out to Saritasa with the idea of building a real estate residential hub with the intention of bringing the sellers, buyers, and agents on the same platform. Saritasa helped OpenHouseDay build a Web App that has a modern look and feel along with being user-friendly and sleek.

Blue Label Labs

Blue Label Labs is a React development company known to have the best ‘Strategic Business Consultants.’ They are focused to define and capitalize on transformative market opportunities.

Being one of the top 10 React development companies, Blue Label Labs provides React development and believes in working hand in hand with various companies across industries with a clear focus on building transformative changes that are primarily custom-centric and user validated. Blue Label Labs has vast experience in developing products that are scalable, and that can help businesses improve their bottom line.

Project Name - Muncheez/Vana

Muncheez/Vana is a trusted marketplace for the legal cannabis community. This company reached out to Blue Label Labs with the intention of creating a multi-platform experience that would bring together cannabis users with dispensaries, doctors & the cannabis community.

Blue Label Labs build a seamless Web App for their client. The team at this React company worked in an Agile-based execution model. They worked in 3-week sprints to go from concept to alpha, beta, and final launch. The proficient team at the Blue Label Labs helped Muncheez launch across three platforms (iOS, Android & Web App) with separate products in eight months.

Lithios

Lithios is a top-rated React development company and are experts at developing feature-rich and high-quality web apps. They are also popular for creating intuitive native apps (iOS and Android).

Being one of the top 10 React development companies, Lithios has a skilled and experienced workforce in in-house mobile solutions completely capable of helping businesses across industries build highly competitive and user-friendly React-based solutions.

Project Name - Smart Draft

DraftKing is essentially a fantasy sports platform facilitating a transformative experience. DraftKing approached Lithos because they wanted to build a more modern experience for their users.

Being a top React development company, Lithios was quick to understand DraftKing’s exact requirements. They used the core elements of the brand in order to build a great experience for the users, especially - an amazing visual experience. Lithios built a seamless app experience and an extremely user-friendly web app for DraftKing, within the deadlines.

WillowTree

WillowTree tops the chart when I talk about top 10 React Development companies. They have been building bespoke solutions for their clients ever since the year 2008. They have worked with leading brands like Dominos, HBO, Nestle, and PepsiCo.

WillowTree is where digital experts thrive. They are well known for helping the most sought-after brands in the world. WillowTree focuses on building applications that matter.

Being a top React development company, they have worked on many projects. Out of the many, Let’s delve deeper into “Regal”

Project Name - Regal

WillowTree and Regal worked together with the intention of making the “movies experience great” for their users across all channels.

WillowTree successfully helped Regal build a completely new loyalty program, a ticket buying experience that is unparalleled, along with an AR experience on iOS as well as Android. This has helped Regal increase sales and improve customer satisfaction.

Over To You

All the top 10 React development companies that I have talked about are sourced from Clutch and my own research. The agency you join hands with should be on the same page with your requirements to achieve the results you, as a business owner, would want to.

These top 10 React development companies in 2021 have worked on hundreds of projects across different industries. All of them are well capable of building highly engaging and user-friendly web apps.

Having prior relevant experience is certainly a mandatory factor when looking to partner with a React agency. The React ecosystem is growing and becoming stronger. I hope you make the most of your partnerships!

Top RPA Trends to Watch Out for in 2020!

Praveen Mishra — Thu, 12 Mar 2020 13:39:35 +0000

You can clearly witness the RPA impact in almost all the businesses prevailing in the market space. By leveraging the incredible RPA benefits, the industries are NOW able to enhance productivity and efficiency of business processes.

The RPA industry is growing exponentially! Forrester predicts it will grow from $250 million in 2016 to $2.9 billion in 2021. This is one industry that is growing at a lightning speed. It was already worth $1.7 billion in 2018. Let’s have a look at top RPA trends dominating the business world.

Robotic Process Automation trends have enabled organizations to automate structured functions and allowed them to focus on core business activities. Moreover, the increased adoption of automated software and services has helped organizations to meet consumer expectations and offer enhanced customer management. This is why,

Robotic Process Automation (RPA) software revenue grew 63.1% in 2018 to $846 million, making it the fastest-growing segment of the global enterprise software market, says Gartner. It further expects the RPA software revenue to reach $1.3 billion in 2019.

Read:- Is the Big RPA Bubble here to Stay?

Top RPA Trends in 2020!

With the continuous rise of automation in the industry these days, leveraging RPA techniques has enabled business organizations to increase productivity by automating trivial and repetitive tasks. RPA has NOW plunged into almost every industry prevailing in the business space.

RPA bots are being used everywhere! According to Deloitte’s third annual RPA survey, 53% of survey respondents are beginning their “RPA journey”. Big names have already started using RPA techniques in their businesses, when will you? Hire RPA developer to incorporate RPA benefits for scaling your business growth.

In this blog, we have discussed top RPA trends. Let’s read further to know about other RPA trends in 2020 dominating the business world.

Cobots in the Workplace!

“Collaborative Robots”, popularly known as“cobots”, work in collaboration with humans to perform their assigned tasks. Cobots physically interact with humans for operating functions.

Cobots provide great value to organizations by augmenting and enhancing human capabilities with strength, precision, and data capabilities. By having humans and cobots work together, companies are leveraging the benefits of improved efficiencies and reduced costs.

By 2025, the market for collaborative robotics is expected to reach $12 billion, says a report.

According to statistics from the Robotic Industries Association (RIA), a little more than 34,600 robots valued at approximately $1.9 billion were ordered in North America, representing growth of 10% in units over 2015.

Cobots can reduce human input on production by up to 50 percent. Here are a few ways they are currently deployed in collaboration with humans.

Ford Fiesta Plant: In Cologne, Germany, Ford factory workers, and cobots are teaming up to install shock absorbers on cars.

Amazon Fulfillment Center: Amazon uses Cobots for bringing shelves of merchandise to Amazon associates thus helping them to prepare for shipment. Now with the help of Cobots, it takes just 15 minutes to complete an order that used to take an hour before.

As you can see, Cobots, by enabling humans and robots to complement each other, helps in increasing business productivity. This is for sure one of the newest RPA trends in 2020 offering cost-effective solutions to industries existing in the market space.

In 2018, the global revenues from collaborative robot production exceeded $550 million, says a report. The analysis also forecasts that the revenues for collaborative robots will reach $5.6 billion in 2027.

Source

Medical Robots!

With the increase in surgeries, medical robots are on the rise. Market-ready surgical robots have helped ease the strain on the medical surgeons thus rendering improved medical facilities to patients.

Tractica forecasts that healthcare robot shipments will increase from approximately 3,400 units annually in 2016 to more than 10,500 units per year by 2021, with more than 38,400 cumulative units shipped during that period.

Hospitals around the world are using medical and surgical robots for offering quick and better medical treatment to patients. With such widespread use of these across the globe, medical robots are clearly one of the Robotic Process Automation trends in 2020. Surgical robots are currently the largest application market, says Tractica.

The market for healthcare robots, including surgical robots, hospital robots, and rehabilitation robots, will grow in revenue from $1.7 billion in 2016 to $2.8 billion by 2021 at a compound annual growth rate (CAGR) of 9.7%, says Tractica.

The University of Oxford conducted a trial of the PRECEYES Surgical System. The medical test involved 12 patients who needed membranes removed from their eyes or had a buildup of blood underneath the retina due to age-related macular degeneration. Half of the people got conventional procedures, while others used robotic surgeries.

All the surgeries were successful, but the robotic approach was more effective than doing the procedures manually, says the report. This is why there are plans to use surgical robots in the future for dispensing gene therapy to the retina. Clearly, Medical robots are one of the most happening RPA trends in 2020!

Read - Robotic Process Automation in Banking-Transformation Unseen!

Robotics in Agriculture!

Can you imagine using automation in Agriculture? Amazed! So was I when I read about one of the Robotic Process Automation trends doing the rounds: Agriculture Robots. Let's read about this in detail.

Agriculture robots are mobile robots that are used to automate traditionally labor-intensive agriculture practices, with some processes being fully autonomous and some of these being semi-autonomous.

The advent of Agriculture robots has revolutionized the agriculture sector. These robots help in improving agriculture productivity by improving crop yields, monitoring environmental footprints and by providing automated tools for agriculture.

According to MarketsandMarkets, the agricultural robots market size is projected to grow from USD 7.4 billion in 2020 to USD 20.6 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 22.8%.

By helping farmers to increase efficiency and reduce operating costs, the use of robots in agriculture is for sure one of the top RPA trends dominating the ecosystem now. The use of RPA has enabled farmers to increase profits by providing the latest precision agriculture techniques.

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Conclusion

So, these are the top RPA trends prevailing in the market space today. After reading this blog, I am sure you have got a clear idea of how RPA has plunged into every business and has helped them grow.

Automation is not a new concept anymore. With almost all major verticals leveraging its benefits, automation technologies such as Robotic Process Automation have become a preferred choice among leading industrialists existing in the market.

Automated technologies could automate 45% of the activities that people are paid to perform and about 60% of all occupations could see 30 percent or more of their constituent activities automated, says McKinsey.

How AI helps in Fraud Detection?

Praveen Mishra — Fri, 14 Feb 2020 12:57:36 +0000

Shocking but true! In its latest report, security company McAfee estimates that cybercrime currently costs the global economy some $600 billion, or 0.8% of Global Gross Domestic Product. Read here to know how using AI for fraud prevention is changing the scenario for the better.

Fraud has long been a major issue for financial companies.With the increase in the number of transactions happening across the globe, the threat of financial fraud has increased too. Artificial Intelligence has popped up as a powerful technology that has the potential to prevent financial fraud.

Of the 3 million identity theft and fraud reports received in 2018, 1.4 million were fraud-related, and 25 percent of those cases reported a loss of money. In 2018, consumers reported losing about $1.48 billion related to fraud complaints, an increase of $406 million from 2017.

Here in this blog, I have discussed how AI helps in fraud detection. So, let’s read further to know how financial companies are leveraging AI benefits to reduce financial frauds. You can also hire AI developers who can help you in embedding automation techniques in your business for driving huge profits.

How AI helps in Fraud Detection?

Leveraging AI for fraud prevention has helped companies to enhance internal security and in streamlining business processes. Thus, by driving improved efficiency, Artificial Intelligence has emerged as a major technology for preventing financial frauds.

Does Effective Attack Detection!

Artificial Intelligence is redefining the way companies do fraud detection these days. Before the advent of Artificial Intelligence, the fraud prevention systems relied on the set patterns and analyzed only restricted fraud patterns.

But things have changed now. All thanks to Artificial Intelligence! By combining supervised learning algorithms trained on previous data with unsupervised learning, Artificial Intelligence helps to gain a better understanding of the customers’ behaviors thus making it a good option for the effective detection of new and emerging fraud attacks.

While only 13% of organizations use artificial intelligence (AI) and machine learning to detect fraud, another 25% plan to adopt such technologies in the next year or two – a nearly 200% increase, says a press release.

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Frees up Fraud Analysts!

Fraud Detection with AI helps to complete data analysis within milliseconds and detects complex patterns in the most efficient way which can be difficult for the fraud analyst to detect.

AI removes the time-consuming tasks and enables the fraud analysts to focus on critical cases, like when risk scores are at the peak. The work quality and efficiency of fraud analysts also get enhanced since their workload uses automated AI algorithms. This is why AI for fraud prevention is a preferred choice among large enterprises.

Industry-wide objectives such as FS-ISAC in the United States provide a more robust data set which helps to identify patterns. This allows fraud analysts to find financial frauds based on well-founded indicators of crimes, says a report by Mckinsey. You can also set up a team of AI developers to incorporate AI benefits in your business.

Reduces the Friction in Customer Experience!

AI reduces the friction customers’ experience by allowing the business merchants to approve online purchases and reduce false positives. Thus, fraud detection with AI helps to render an overall more positive customer experience. This is why companies NOW are choosing AI for fraud prevention more than ever before.

For 75 % of the companies that were surveyed, identity verification has become much more complicated and complex over the last 3 years, and in many cases leading to additional friction in the customer experience. Companies need to decrease customer friction in order to drive revenue and new customer engagement,says the Sixth Annual Fraud Report.

Artificial Intelligence uses scoring techniques such as Omniscore which combines the strength of supervised and unsupervised learning. This helps to reduce false positives thus decreasing the friction in customer experience. Read this to know about the future of Fraud Prevention with Artificial Intelligence.

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Stops Nuanced Abuse Attacks!

Leveraging AI for fraud prevention helps to curb nuanced abuse attacks which include referring a friend abuse, promotion abuse, or seller collusion in the marketplace. AI-based algorithms evaluate historical data and anomalies. Knowing more about historical data prevents nuanced abuse attacks without affecting the customer experience.

Capgemini claims that fraud detection systems using Artificial Intelligence and Machine Learning minimize fraud investigation time by 70% and improve detection accuracy by 90 percent. Other than finance companies, Artificial Intelligence is being used by eCommerce industries too.

Achieves Regulatory Compliance!

Businesses that are competing in high technology industries these days need to stay in compliance with policies and regulations that protect key technologies as well. AI-based scoring techniques are used to keep businesses in compliance with these business policies and rules thus enabling them in fraud prevention. This is how AI helps in fraud detection.

Feedzai, a fintech company, claims that Artificial Intelligence along with fine-tuned machine learning algorithms can identify up to 95% of all frauds and minimize the cost of manual reconciliations, which accounts now for 25% of fraud expenditures

AI in Fraud Detection: A Few Words

By now, you would have got a clear idea of how AI helps in Fraud Detection. Artificial intelligence and machine learning applications use rule-based algorithms to analyze patterns and predictive analytics to block fraudulent transactions thus helping finance companies in preventing financial frauds.

Did I miss anything? Let me know in the comment section below!