Unit Space
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Unit Space
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Mar 30, 2022
“The only thing necessary for the triumph of evil is that good men do nothing” — Richard Burke…
“The only thing necessary for the triumph of evil is that good men do nothing” — Richard Burke, Irish Statesman.We are the team of people who do something. Who love Ukraine🇺🇦. Who care.Who opened uscf.com.uaWho care that someone’s parents are staying at home without electricity and food. Who cares to help Hospitals with medicine and equipment. Who care about the people who don’t have homes any more.Starting from February 24, the goal of our life has become one — to help our country. Help people in our country. Help the relatives of people in this country.Right now our major expenses include the following:- Medicine, special surgery, and medical equipment. - Buses to evacuate people from East part of Ukraine- Food - Household goods: diapers, soap, flashlights, stoves, and their analogs.- Warm clothes for everyone, blankets, and mattresses.Unfortunately there is always a “BUT”. But or funds are already beginning to be insufficient. And that’s why we opened Unit Space Charitable Foundation and coming to you with this request. Support. Ukrainians. More information about us and How to support you can find here: uscf.com.uaDon’t let the evil triumph — help Ukrainian citizens💙💛🇺🇦“The only thing necessary for the triumph of evil is that good men do nothing” — Richard Burke… was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreMar 25, 2022
Unit Space is a team of true lovers. True lovers of peaceful sky above.
Over the past month, our team has become as distributed as it hasn’t been in all 4.5 years of existence. But. We can be far from each other, but right now we’re united as never before. We showed how friendly we can be by helping the father(military) of one of our employees to find volunteers. We showed how courageous an Android developer can be — now he is protecting our country. Not in Cyberarmy. In the Ukrainian army.Doing all this with kindness in the soul and eyes in which much can be seen.Each of us became a little volunteer, a little psychologist. Not only within our team.Poland, Germany, Sweden. We support and help each other everywhere. From Kharkiv to Lviv. From Chernigiv to Kherson. From the Earth to the moon and back.Unit Space Team. You’re awesome and we will meet together very soon. We don’t believe in it. We Just know it💙💛Unit Space is a team of true lovers. True lovers of peaceful sky above. was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreJan 18, 2022
What are the Reasons for the Failure of Fintech Startups?
CONTENTWhy Fintech Startups Fail? 12 reasons1. Funding gap2. Choosing the wrong VC (Venture capital? Investor)3. Excessive compliance4. Work like another tech startup5. Considering costs as a factor to eliminate competition6. Underestimation of competitors.7. Skip understand your customers8. Overloading of product offers.9. Transition to innovation through technical functions10. Insufficient clarity of the income model.11. Excluding legal aspects12. Random selection of a development partner.ConclusionFintech is one of the hottest trends in the tech sector. The fintech market is projected to reach approximately $ 460 billion by 2025. Financial startups are driving this boom and digital transformation.They launch innovative products and services using technological innovation. However, achieving success in this area is fraught with difficulties. While fintech startups start with the right investments and funding, there are higher business risks.Most fintech startup owners think they are building their next million-dollar business. But they face challenges in scaling their businesses. They also run into problems when they force users to pay for their products.Most fintech startups make mistakes in various areas that lead to their failure. What’s more, misconceptions about target customers, finance, and technology aren’t just problems in the fintech ecosystem. These startups even face challenges due to fierce competition and chosen revenue models.Here’s how fintech startups fail and how to avoid it.Why Fintech Startups Fail? 12 reasons1. Funding gapThe total value of investments in fintech companies around the world soared between 2010 and 2019 when it reached $ 215.4 billion. However, in 2020, investments by fintech companies fell by more than a third, amounting to $ 121.5 billion. America was the region attracting the most investment in this sector, accounting for nearly 80 percent of the total. In the second quarter of 2021, the total value of investments in fintech worldwide was $ 47.3 billion.Throughout its history, fintech has provided people with new opportunities to start investing. However, if you don’t have enough funds, your fintech startup is likely to fail.Fintech startups need the right tools, the best talent, and other essential resources, and that’s all recurring costs. Thus, such startups need to have an upfront payment on ongoing investment..Insufficient funding drives the fintech business out of control and leads to failure. With the start-up costs in mind, you also need to keep your business running until you have convincing proof of concept. And later on, you may have a steady stream of paying customers.However, researching your products upfront is very important. You must develop a solid business plan and include all possible costs to ensure that you have enough funds to support your business.It would be a good idea to choose minimum viable product (MVP) development (link to our article) to validate your business idea and concept.An MVP will not only help you test your business concept, but it will also help you collect the first audience feedback before launch. As a result, you can avoid financial losses and continue to constantly raise funds.Investors are an important part of launching a fintech startup. And getting enough funding from them will increase the chances of success with a return.2. The wrong choice of VCWhile funds are vital, those who give them to you also matter. The venture capitalists you partner with don’t just offer their money. However, they even add their brand and specialization to help your business. Choosing the wrong financial partner in the future can lead to significant mistakes.It is always beneficial to choose a financially savvy investor. An investment partner from the same field will help you navigate the industry as their know-how is critical to the success of your business. In addition, funding from investors with no financial experience may soon stop your funding.You need to interact with investors about their involvement in your business. You also need to clarify what category of reports they expect from you and what type of management the company prefers. Promoting these expectations in a timely and open manner will increase your business’s chances of success.3. Excessive flexibilityIt’s very important to follow the rules, but unnecessary submission or over-submission can lead to the quick death of your startup.A robust grievance strategy is needed. Stakeholders, especially in the fintech industry, are talking about cyber laws and a host of other requirements. However, you don’t need them. Find the best ones based on the products you offer and the geography of your business.Cyberspace laws cover legal informatics, e-commerce, and information security. Fintech companies are also subject to anti-money laundering regulations, financing regulations, and payment security.Thus, it is important to carefully plan your regulatory compliance when launching your fintech startup. You need to plan your expenses and decide on matching options.Excessive compliance should be avoided unnecessarily. However, you should be guided by the advice of a professional lawyer when starting in financial technology. Failure to do so may result in an accident.4. Working like another tech startupNot all startups are the same, especially fintech. Working models and promotion strategies are completely different from fintech startups. However, they are making a serious mistake by organizing their business operations like another tech startup.Most of them lack understanding of the business model. And they are not competent to innovate their product offerings.If fintech wants to thrive, it needs to limit the thinking of its audience. They need to figure out how they spend their money, what their investment fears are, and more. In addition, they require an understanding of issues from both sides, at the client and company level, as they both think differently.You need unique marketing strategies when compared to other startups. As a startup founder, you cannot compromise on personality and do everything like any other startup. A deep understanding of your users and market is critical to getting things done right.5. Considering costs as a factor to eliminate competitionYou can think of lowering your product costs with the thought of eliminating competition. But when your regular customers find out about your regular discounting methods, the situation only gets worse over time. Especially when your regular product prices are discounted.Also, since your previous discounts have lowered the cost of the product, what about your future profit margins and why will users pay extra later?Thus, discounting leads to a bad example that diminishes your future business opportunities to increase profits. Hence, don’t compete over costs, especially if you’re a fintech startup.6. Underestimating competitorsMany fintech startups are springing up, and they think that it cannot affect you, that you are making one of the biggest mistakes.Here are ways to avoid underestimating your competitorsYou need to continue to develop your product and services for your customer base and investors so that your competitors cannot attract your customers.You must regularly update and update your product with technological innovations.Keep track of your competitors’ decision-making processes and business steps.Adopt more effective marketing strategies and try to implement new business tactics compared to competitors.Even if you’ve grown into a popular name in fintech, you need to keep a close eye on and track your competitors as you never know when something will change in this highly competitive space.7. Skip understand your customersIt is imperative to understand how consumers approach their finances. If you cannot take advantage of this, you cannot succeed as a fintech startup.By lagging too far behind suppliers and competitors, you may be missing out on an opportunity to understand your core customers and their needs.Listening to customer feedback and transforming customer feedback into new product features is a huge challenge. However, this can lead to fruitful results, especially if you are a fintech startup.You need to know how your audience in each segment is saving, investing, and managing their finances. For example, in anticipation of mobile banking apps, consumers in their 20s are curious about advanced financial tools. In contrast, those over 30 require a higher debit card reward. Meanwhile, consumers aged 40 and over are only interested in interest rates.So, you need to find such ideas to understand your consumer base.However, age is only one factor. Other characteristics such as educational level, gender, and financial standing, among others, need to be analyzed to understand your customers.In addition, from a buyer’s perspective, the adoption and use of a fintech product require detailed understanding. Thus, if you don’t understand your customers, it will lead to certain setbacks.People prefer what they know and their behavior can be tracked. Thus, promoting your users according to their behavior will lead to prosperity in the financial technology industry.According to the study, people prefer digital payments to be the largest segment of the market, with an expected transaction value of $ 8,266,917 million in 2024.8. Overloading of product offersSince technology and innovation are the strengths of fintech, they assume that all customers want more. So, fintech startups are joining the race for new features, faster services, and more automated solutions.However, they forget to consider and know what customers are asking for and overwhelm their product offerings.Fintech startups should prioritize customer service quality. When moving to cutting-edge technology, it’s easy to overlook what consumers are looking for in your products.Therefore, when optimizing and updating products, be sure to listen to your customer base.9. Move to innovation through technical functionsNew technical features like artificial intelligence (AI) and machine learning (ML) take the guesswork out of your financial decisions. Innovative learning apps further reduce unconscious savings and investment decisions.With chatbots, you can cut down on staff costs. You can identify fraud and take action to eliminate it with features that allow you to analyze your payment history.All of these technical features can help fintech startups innovate with technology. Skipping continuous innovation after the product is ready can lead to disruptions.So, fintech startups need to optimize their products and services by introducing new features regularly.To some extent, fintech companies have become leaders in usability and have provided consistent experiences across multiple channels.10. Lack of clarity in the income model.The income model of any startup is important to the success of its business. However, for the founder of fintech, this is very important. This is because clients have doubts about the revenue models of fintech startups. For example, consumers think when a startup asks for a higher price for a product that it will receive a share of the investor’s return.However, gaining consumer trust is vital for fintech companies and is directly related to their revenue model.According to Forbes, the most-funded startups to date are creating a cheaper version of the current financial product. And customers are already paying for that versus a new product with a different value proposition.Startups with lower installation and distribution costs take advantage of the power of their networks. Thus, for these other scenarios, it is important to choose an accurate income model. And decide how you, a fintech startup, will make money shortly?You must have a clear understanding of the sources of income, whether from customers or digital advertising. A business model that is simply based on creating new users without a monetization strategy can lead to failure.11. Without taking into account legal aspectsAlong with financial laws, fintech companies must comply with legal aspects to operate smoothly. This includes elements such as know your customer (KYC), anti-terrorist financing regulations, and consumer data protection, just to name a few.However, many fintech owners do not do legal research well and do not increase the risk of product rejection.Financial services are highly regulated and very detailed when it comes to legal space. Thus, it is important to consider the legal aspects when creating a business plan. This includes precise licensing and accompanying laws, especially for fintech startups building a software solution.12. Random choice of development partner.You need to choose your development partner wisely. You can hire a development partner with your team or an individual who can work as a member of your team.You need to carefully check whether your development partner has the appropriate experience and knowledge in the selection process. If you choose newbies to develop your Fintech app, you may end up spending too much.Your development partner must comply with all required regulatory requirements and have a good understanding of current cybersecurity needs. He must have a robust risk mitigation plan in place.Are you looking for a dedicated financial technology development partner? If so, check out our fintech portfolio and jump in to discuss how we can help your fintech startup!ConclusionWhen you start a fintech startup, you may feel like it’s you and the world. However, to avoid disruptions, fintech startups in 2021 must engage in customer experience acquisition and support for customer support services.More: Is Your MVP Ready? How to Approach Validating Your Startup IdeaNo matter how advanced your product or service is, customer engagement is still critical, especially for the finance-related business sectors.However, failures happen, as do business successes. So, learn from the successes and mistakes of other fintech startups and make sure you can apply accurate strategies.At Unit Space, a leading financial technology app development company, we help emerging startups around the world. Start your development journey and launch a comprehensive fintech product in the App Store with us.What are the Reasons for the Failure of Fintech Startups? was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreOct 28, 2021
Find & Hire Developers for Your Startup
CONTENTThe most common hiring problems faced by a startupHiring a developer for your startup is the best choiceHire a developer as part of your in-house teamHiring a freelance developer on a contractual basisHiring an application development company to outsource your projectHow to Hire an Application Developer for Your StartupConclusionThe hiring challenges most startups to meetAll startups are businesses, but not all businesses are startups. Unlike an established business, startups build everything from scratch.Therefore, they have their unique challenges when it comes to hiring app developers.Local tech talentLack of local tech talent is one of the challenges startups face when hiring developers for their applications.If you work in areas like “technology centers”, most local developers are either already employed with good positions or aspiring to get into the next big tech company.On the other hand, it is hard to find a specialist in non-technology centers.That is one of the reasons why many startups resort to hiring offshore developers to fill skill gaps in their teams.Additional rental costsEven if a startup decides to hire offshore developers, they should still consider remote developers as part of their team.Payment fixed wages and investing in software infrastructure for your remote team. Moreover, you will have to hire additional staff to manage your internal development team and pay them a salary.Add to that security costs, benefits, and other bonuses for your internal team, including developers. It turns out that the costs of hiring developers are essentially fixed and recurring costs for every startup.Fight to preserve talentLet’s say you’ve found the right tech team for your startup. You also managed to avoid all those additional costs of hiring developers. But what now?It is impossible to link the team with your startup. Skilled app developers are always looking for a better path or a more complex project.Plus, tech giants are always looking for more and more developers. Thus, it is often difficult for startups to retain their hired talent after all the investment.It is important to consider the risks and consequences of not being able to retain developers.What if they leave in the middle of the software development lifecycle? This situation is very difficult and requires the founders to give up everything so that they can attract a new developer and explain the project to him.Even then, it is likely that the previous developers did not maintain the code properly, and the new developer will have to start over. Result? More costs, development delays, and longer time to market.HR departmentStartups are called startups for a reason. They are just starting their business with very limited capital (unless they are fully funded). More importantly, they work on operations, processes, and team structure.Most startups don’t have a full-fledged HR department of their own. In some cases, the HR department struggles to establish effective hiring processes, create a repetitive pipeline of interviews, complete job descriptions, and more.In the absence of all these processes and pipelines, you may be missing out on some really good candidates because you won’t be able to respond in time.Or worse, you might be missing out on dozens of available candidates that fit your exact requirements just because you weren’t able to write your job description correctly.The lack of a well-established HR department is one of the biggest challenges startups face when hiring.TimeStartups thrive on their competitiveness, both in terms of pricing and time to market.So the founders/co-founders have been going about their business from day one. They have to choose between choosing a product strategy, budgeting, seeking investment, and a host of other things.Hiring a developer for your startup is the best choiceThere are three options when you want to hire an app developer for your startup. You can hire someone in-house, go freelance, or outsource your project to an application development company.Let’s compare the three options in detail.1. Hire a developer as part of the internal team.The very first thing startups primarily consider is hiring a full-time app developer. In the past decade, a large number of companies have given up on this hiring trend.This is because when you hire a developer for your startup, you have to deal with all the hiring problems mentioned above.PlusesYou can hire a candidate that is appropriate for the culture of the startup.Own teams are more reliable and easier to communicate with.They are a support and a helper for any surprises that arise in the development life cycle.MinusesHiring a full-time developer is time-consuming.Paid vacation and other benefits.It’s harder for startups to retain full-time employees.Workload management and active participation in the project management process.One developer has a limited set of skills and experience.2. Hiring a freelance developer on a contractual basis.Quite a common choice due to the benefits of hiring freelancers. However, many startups end up resorting to other options after having trouble working with freelancers.Let’s weigh the pros and cons of hiring freelance developers.PlusesYou can find a wide range of available options on popular platforms.Many freelance developers are willing to work for less than full-time employees.No need to pay for any perks to freelance developers.You can opt out of the arrangement of the workplace and software infrastructure since freelancers work outside of your office.MinusesHiring freelancers is always risky as they may leave or stop working in the middle of a project.There are no guarantees for the quality of the software.Freelancers usually work on several projects at the same time, so they are not completely immersed in the project.Checking the code and the quality of the work performed becomes the responsibility of the employer.It may be necessary to hire different professionals for testing, UX design, etc.Communication with a freelance developer ends after the software is delivered. You will need to hire someone to maintain or update your application in the future.3. Contact an application development company to outsource your project.Outsourcing a development project to an app development company is the perfect sweet spot for startups. It is more affordable and profitable than hiring your team. In addition, these companies have much more industry experience and are more reliable than freelancers.Let’s take a quick look at the pros and cons of working through a startup app development company.PlusesComprehensive project management services, from business analysis and design to development and testing.Well-tuned processes, communication channels, and code quality criteria.An application development company is made up of experts and consultants who can help refine the strategy, document requirements, and propose a timeline and budget.Development companies create strong bonds for long-term product success. From launching the application to supporting and updating it to meet changing requirements.MinusesA lot of paperwork, as development companies follow a specific process — from the first contact with the client and the project to its implementation.The cost of hiring an app development company can be slightly higher than hiring freelancers because they take over the entire project management process but is usually lower than the in-house team.Which of the three options to choose a startup?If the team already has enough IT professionals and the budget isn’t a major constraint, hiring an in-house developer for your startup is a great idea. Thus, the developer with the help of technical experts will be able to create a suitable product.Alternatively, hire a dedicated developer to fill the skills gap for an existing full-time team. This is called staffing and many IT startups now rely on it.We do not recommend hiring freelance developers unless it is for small to medium-sized tasks and you do not have your experts to check the quality of the work done.If you are looking to hire an app developer for your startup with little in-house technical experience, your best bet is to go to a development company that can offer a qualified specialist.How to Hire an App Developer for Your StartupIf you’re looking to outsource development or want to hire an app developer, use these key guidelines to filter your options.Experience and proof of workBefore hiring a developer, it is very important to check their experience in this area. Look for candidates or vendors who have created good products and solutions for their customers in the past. Check out their portfolios.ExpertiseStartups are very dynamic. Their very existence is based on the novelty and competitiveness of their product idea. Therefore, it is very important to partner with an application developer who is actively involved in sharing knowledge across the ecosystem.If you’ve shortlisted some vendors, check the blogs on their websites. This will give you insight into the industry expertise of these teams.TechnologiesYou can be a startup today, but in 2–3 years you will not be a startup. Therefore, it is very important to think about how your product will perform in the future.Application scalability and enhancements are directly influenced by the technologies used to create the application. So, hire an app developer or app development company that is well versed and proficient in modern technology.Project management criteria and communicationHow can you check if a candidate who takes up their position as a developer guarantees that the product will be delivered on time? If your vendor talks about the specific software development lifecycle (SDLC) they follow and presents you with a timeline, you know you can trust them.Project management greatly affects the profitability and timeliness of a project. Therefore, when shortlisting candidates, ask them about their SDLC and the project management tools they use.You should choose a company that works with project management tools that are convenient for your internal team. Also, make sure the developers provide you with details on how often they will communicate with you, how they will share the progress of the project, and how they will adapt to your changing requirements, just in case.ConclusionStartups face a myriad of hiring challenges because tech talent is in high demand and most of it is too expensive for a startup. If you are looking to hire an app developer for your startup, you have three options to choose from. Hire your developer, freelance developer, or development company.While you are listing vendors to outsource your project, check their portfolios and reviews in B2B directories. Make sure they use consistent project management practices and are transparent in their communications.Unit Space is a leading application development company in Eastern Europe. We are a team of experienced consultants, project managers, designers, developers, and testers.If you are a startup and want to receive qualified assistance in product development, we will be happy to help you! Let’s connect here and talk about how you can bring your idea to life with the lowest cost and the highest possible return on investment.Find & Hire Developers for Your Startup was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreOct 11, 2021
How to Create a Successful Fintech Application for a Startup or Company
Fintech is an attractive new century term for everything related to technology and finance, from money transfer software platforms to Fintech application development.CONTENTA Step-by-Step Guide to Developing Fintech Applications1. Selection of the project methodology.2. Designation of the MVP volume.3. Selection of an effective approach to development.4. Selection and organization of the project team.5. API Design and Development.6. Application and API security.7. Development of a FinTech application.8. Ongoing development, releases, and testing.9. Launch the FinTech application.Key features to keep your FinTech applications productiveKey features of the fintech applicationThe cost of creating a fintech applicationConclusionOver time, Fintech Software Development Services is not only becoming a trendsetter but also enabling the financial sector to make things easier for its consumers.Interest in online banking and investment applications has grown especially in 2020. The growth was as much as 45% according to the annual report of the analytical agency App Annie.There are two reasons for this, the first one is a pandemic. In conditions of instability, economic turmoil, and low rates, people are increasingly turning to applications that allow them to invest and monitor the financial situation.The second one is the general popularization of investment and the ease of working with it. If earlier not everyone could work with trading instruments, now many large brokers and banks offer their clients convenient mobile applications and semi-automated trading solutions that work practically without client participation.A Step-by-Step Guide to Developing Fintech Applications1. Selection of the project methodology.Hire an experienced project manager, an experienced architect, and business analysts with sufficient expertise in the FinTech industry. You need to launch a Minimum Viable Product (MVP) and improve your application based on customer and market feedback. Agile with iterative development is a more accurate methodology than the Waterfall model for such projects.2. Designation of the MVP volume.As a Fintech app development company, we recommend that you define the scope of the MVP:Provide web app, iOS app, Android app.Include the functionality and features of advanced mobile and web technologies.Prioritize these features using advanced tools such as a pain and benefit map or a priority matrix.3. Selection of an effective approach to development.With our expertise in Fintech application development, we recommend that you add the following building blocks to your development approach:Leverage managed cloud service platforms to better manage your IT infrastructureDevelop your own Android and iOS apps as they offer the best user experienceFocus on application security as well as API securityUse leading-edge tools, frameworks, and guides for impressive development4. Selection and organization of the project team.It’s time to hire Fintech app developers. Many companies outsource development because it saves time and money compared to hiring their own development team. You need to use the following roles, which are typically part of a fintech application development team:Back-end developerFront-end developerAndroid and iOS DevelopersBusiness analystProject ManagerDesignerQA specialistDevOps Engineers5. API Design and Development.At this point, you need to design and build APIs to provide flawless and stable access to the back end from the front end. You can use database solutions like MongoDB or PostgreSQL to build the API.6. Application and API security.At this point, secure your application and API using techniques such as data encryption and authentication. Use authentication tokens, digital signatures, data encryption methods, throttling, quotas, and gateways to secure your API.7. Development of a FinTech application.It’s no secret that Progressive Web Apps PWA is a connecting bridge between mobile web apps and native apps that is faster and more user-friendly than traditional web apps. Use tools like PHP, Python, JavaScript, and cloud-based software development services as they make development rewarding and easier. Next, integrate your APIs.8. Ongoing development, releases, and testing.The development process does not stop after launching your application. It’s time to keep improving and updating as you start getting valuable feedback. To outperform your competitors, make sure your app is user-friendly, smooth, and secure.9. Launching the FinTech application.Prepare launch events, promote them across multiple platforms, identify key influencers, and develop a press kit. Finally, submit your mobile app to app stores.Key features to keep your FinTech applications productive1. SafetyAll fintech applications must comply with security requirements, protecting users’ financial data. To do this, the developer of fintech applications includes encryption, blockchain, biometric, and two-factor authentication, and also takes other security measures.2. Integration of payment gatewayMost fintech applications deal with payments. To facilitate payment functions, you can choose to integrate with services such as PayPal, Stripe, Zelle, or work through banking or PSP APIs.3. DashboardsCreate useful dashboards. It’s hard to imagine anyone building a fintech app without a visual representation, whether it’s financial expenses, payment history, or any kind of stock chart.4. Voice integrationFintech apps should offer customers modern features like voice assistants including Siri, Google Assistant, and Bixby.Other features includeTransaction History Display / Online Savings AccountLightweight feedback systemIntegration with social networksOne-click communicationQR / Barcode Scanner IntegrationOffline FinTech Application UsabilityKey features of the fintech applicationSimplified bill payment and error-free money transfersCorrect check of the history of transactions and messages about the operations performedPush notifications, alerts, reports, and analyticsAvailability of geolocation and currency conversion toolsThe cost of creating a fintech applicationThe cost of software development depends on the scope of the tasks. The development of Internet banking is a very large-scale and rather expensive project, as it requires the long-term work of qualified specialists. If you need a small application, less labor will be required, the cost of such a project is affordable even for a small business.The exact price of a fintech solution can be calculated only on the basis of a detailed technical assignment. The development of such a task also takes time and is relatively expensive. Therefore, when ordering a software product, they usually focus on the hourly wages of developers. One project can be performed by several specialists at the same time, this reduces the time required to bring it to readiness.ConclusionThe growing use of digital payments, increased investment in blockchain technology, the growing maturity of e-commerce, and the conclusion of COVID-19 are expected to further the development of the FinTech market.We are a leading fintech software company and you can easily hire a fintech app development team for your future technology projects.How to Create a Successful Fintech Application for a Startup or Company was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreSep 3, 2021
Unit Space’s CEO Vladislav Rudas Has Achieved Spectacular Growth since the Firm’s Formation…
Unit Space’s CEO Vladislav Rudas Has Achieved Spectacular Growth since the Firm’s Formation: GoodFirmsIncorporated in 2017 and based in Kharkiv, Unit Space is an IT company based in Europe, specializing in web & mobile apps development. With years of experience, Unit Space has completed 200+ projects and today is one of the top 10 Ukrainian IT companies.Unit Space’s team possesses a team of highly qualified designers, software engineers, and QA engineers. All of them are ready to use their experience for clients’ projects and provide them with flexible and qualitative solutions for their business.Being an international company, Unit Space holds 100+ in-house developers engaged in the integrated development of a complete cycle. The organization specializes in creating web and mobile applications backed with research and development.Unit Space has executed 150+ projects for different business areas for more than two years, from selling services and products to creating artificial intelligence. Each project has a unit of highly qualified developers and QA engineers. This arrangement allows clients to quickly and accurately solve the tasks and execute the project at a high level.The GoodFirms team spoke with Vladislav Rudas, CEO of Unit Space — a listed Ukrainian company focused on the achievement and growth of technologies. Vladislav divulges that Unit Space partners with businesspeople and helps lead successful inventiveness through the proof-of-concept stage.Further, Vladislav narrates the story behind the commencement of Unit Space by asserting that a few of his friends wanted him to develop websites for their companies. He realizes that he can change this world by helping other companies with their development needs. During these four years, the team grew to 120 developers + 25 non-technical people and went above and beyond.Unit Space is on a mission to fund innovative research projects and support clients strategically and operationally. Vladislav Rudas and his company’s primary focus is to solve global clients’ business issues by investing and bringing the most exceptional & disruptive technologies to market.Unit Space provides full-cycle in-house project development services. Starting from the business analysis stage, both product and tech, the web developers create UX and UI part of the design, both Front & Backend development, manual QA, and automation, and provide support if needed.The organization holds business analysts, UX/UI designers, frontend and backend developers, DevOps, Manual, and automation QAs. Unit Space has many vendors to recommend if the client needs further services like PPC, crowded marketing, inbound or outbound marketing, or SEO services.The experienced team will develop an extraordinary project for clients by creating a new brand, mobile app, or multi-functional online store. The experts don’t use templates or a similar approach in general and make sure each product is unique and inimitable.At Unit Space, the web developers charm people with rich and intuitive web interfaces developed with proven technologies. They use first-rate technologies to craft lightning-speed web applications. Web developers focus on technologies that allow for building reliable, elegant, and secure web products. Everything the team builds can be deployed in the cloud to ensure even higher achievement and uptime.Thus, using disruptive tech solutions that power clients’ business models and increase their competitiveness endows Unit Space as one of the top website development companies in Ukraine at GoodFirms.The review displayed below is the evidence of quality websites developed at Unit Space.Vladislav continues by mentioning that it’s all about their team members, experience, personalities, and attitude. The PM team has product development and business development expertise in different industries and is committed to developing startups from the ground up and developing the systems for businesses.From the very beginning, the team asks multiple questions about the idea and the application value. Based on the answers, the customers can provide suggestions on the MVP and the product features them. The team always starts from the discovery phase and moves forward to the final tech specification for the project and its future, not only MVP.At Unit Space, the team produces and executes ecommerce tactics, online stores, and applications for large scale manufacturers and businesses. They know the peculiarities of online sales in different industries and are focused on the business result. The team holds experience in developing eCommerce platforms for retailers and entrepreneurs in fashion, electronics, metallurgy, and the automotive industry.Thus, strengthened by a team of proficient developers, Unit Space gets dubbed as one of the top ecommerce development companies in Kharkiv at GoodFirms.The review obtained at GoodFirms reflects the quality of services provided at Unit Space.In conclusion, Vladislav Rudas offers a complete cycle of project development. Besides that, the team provides one dedicated developer or a fully dedicated team working under the client’s management. He further mentions that 91% of clients are returning to Unit Space after a new round or with a new project. It depends on the project and customer’s situation; the experts’ team pays as much attention as possible.Vladislav explains that he sees the impact Unit Space makes every day with the projects in the portfolio. By helping these inventions come to market, the expert team estimates the impact on a global level, helping any current or future clients.Thus, having read the summary mentioned above from Vladislav’s interview, one can also glance at the detailed interview published at GoodFirms.About GoodFirmsWashington, D.C.-based GoodFirms is a maverick B2B research and reviews firm that aligns its efforts in finding web development and ecommerce development services agencies delivering unparalleled services to its clients. GoodFirms’ extensive research process ranks the companies, boosts their online reputation, and helps service seekers pick the right technology partner that meets their business needs.About the AuthorWorking as a Content Writer at GoodFirms, Anna Stark bridges the gap between service seekers and service providers. Anna’s dominant role lingers to form every company’s achievement and critical attributes into words. She strongly believes in the charm of words and equips new approaches that work, always with concepts, something new to create, and something unique to enhance the firm’s identity.Unit Space’s CEO Vladislav Rudas Has Achieved Spectacular Growth since the Firm’s Formation… was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreAug 4, 2021
Is Your MVP Ready? How to Approach Validating Your Startup Idea
To achieve success with minimal risk and cost in an environment where 92% of launched startups close, each project should start with the launch of a minimum viable product.MVP (minimum viable product) is the stage of development of a startup or IT product when it solves at least one very important problem of users (customers) and thus demonstrates its “viability”. At the MVP stage, the product has users who can praise or strongly criticize it, but still use it, thereby confirming the presence of a need that the product solves. And from the opposite: if at the MVP stage the product does not solve important user problems or solves them poorly, then the market does not need such a product and, therefore, is “unviable”. We will advise you on how to take the first path.What is MVP in development?In the development of an MVP product or application, this is a real-life project with real users performing real tasks.Product MVPThe MVP of a product is a version of a product that completely solves at least one problem of a potential client.The MVP of a product is working software, although very often this term is used to refer to something that is not it, for example:landing page with a contact collection form or presentation: this method of testing market interest is used in the lean approach, but it is not yet a viable version;An untested product just released by the development team, which cannot be used due to the abundance of bugs: this idea of MVP is common in technical teams, but such a product will also not be viable;software, to start using which you need to go through a complex training course or perform complex integrations. Perhaps for very complex business niches, even such software can solve problems and be a successful MVP of the product, but for the mass market it is still necessary that everything be simple and clear, otherwise, you will not be accepted.MVP applicationAn MVP application is created to test hypotheses on which the entire startup or IT product will be built in the future. Accordingly, such an application should be:1. Thoughtful. It takes some time to analyze the personas, tasks, and pains of your users and formulate the hypothesis that you want to test.2. Obvious. No need to force the user to guess what this software is for. Keep everything simple and accessible, even if you are solving complex problems.3. Engaging. Successful products compete for the time the user spends in them, and not at all for their usefulness, as it might seem at first glance. Make the user refuse all other substitute products and solve their problems only with you.4. Viral. In the modern world, buying contextual advertising to promote a software product is a losing strategy in advance. You need to make it so that users themselves are eager to tell their friends about your product.Accordingly, the development of MVP boils down to creating such an application and making a few “childish” mistakes as possible at the start.Is Your MVP Ready? 6 Questions to Ask Yourself1. Does It Meet My Business Goals?The first thing you need to determine is the alignment of your project goals with your business goals. If you think your MVP is ready for deployment, go back to those original goals and consider if they are successfully meeting them. You can release it to collect feedback and refine your idea, but just as importantly, successfully achieve the overall business goals that the product itself must achieve.2. Does It fit My Minimum Requirements?The idea of such a product provides for a “minimum”, which means that the product must meet only critical requirements — those contained in the definition of the product itself — and not contain any bells and whistles.Once you’ve proven that your idea is great and can be successful in actual market entry, you can easily work on plugging in features that aren’t critical but can make your product even better. In fact, the MVP will help you determine which features will actually allow your product to evolve.3. Does It Solve a Problem?When your idea was born in your head, you identified a goal — the problem that you wanted to solve by creating your product. Even though your MVP is the initial version of the product, it still needs to solve this problem and, in the end, solve this unresolved problem that your future customers are facing.4. Have I Tested It Internally?Rigorous testing is the initial version of the product, not a prototype for internal use. The MVP must be thoroughly reviewed by an internal team, including quality assurance (QA) testing. This way, you clean it of errors and defects and make sure that it functions as expected.5. Have I Garnered a Trustworthy Audience?Honest and meaningful feedback is the key to getting what you need out of your MVP deployment. It is important to gather real users and consumers who will give you honest and meaningful reviews. It’s a good idea to identify people who are truly interested in your product and can use it through market research tools like targeted advertising.Once you have an audience that can provide meaningful feedback, find ways to get it. Be sure to find out how and why they will use the product and what improvements they can offer.6. Do I Have a Roadmap for Improvements?Don’t rush to roll out your MVP if your roadmap isn’t ready. Let’s say you have a clear methodology for defining the proposed features that you include, as well as a system for establishing hierarchy. You have also defined which channels the enhanced product will go through until the next release.In other words, you don’t want useful feedback to be available to you without knowing how to handle it. Creating a roadmap before it is implemented will allow you to make meaningful changes quickly.A successful MVP means you’ve found a problem/solution fit. To do this, you need to launch it, test it on users, collect positive feedback and move forward to do the world better.Product-Market FitProduct-to-market fit is the degree to which a product meets market demand. Finding product-market fit is essentially a search for a compelling value hypothesis: the functions your product should perform, the audience you need to grow, and the business model that will motivate you to buy your product. Startups usually go through many iterations before they find the right product-market fit.How does this happen? After you release the MVP “to the world” and see that it is used by a certain number of consumers, you need to start looking for such a market positioning or such a set of product features that would provide rapid, ideally “explosive” growth.Accordingly, you select a set of characteristics “what does your product do — who needs it”, which will give you more growth. At this stage, the “packaging” and functions of the product will change. This is a large-scale change to test another hypothesis about a product, business model, or growth mechanism.You will need a reliable partner who can handle these twists and turns and provide you with prompt changes in design and functionality. We can and know how to do it.The result of this stage will be that your product will cease to be MVP and will show the so-called organic (natural) growth when the recommendations of the product users give a greater influx of new users than paid promotion channels.At this stage, Unit Space can ensure the scaling of the product development team and perform an ever-expanding range of tasks.In general, we can support you at all stages of this process: starting from analytics, creating testing of a future IT product on prototypes and mock-ups, directly developing MVP, going through all stages in the life of the product, and further technical growth and scaling. Contact us — and let’s develop your idea together into a product that will conquer the world!Is Your MVP Ready? How to Approach Validating Your Startup Idea was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreJul 21, 2021
What is Tech Stack and how to choose the best one for your project
In this article:What is a tech stackOverview of Frontend frameworksJavascript or TypescriptCSS, Less, or SassWhat to consider when choosing a technology stack for a projectExamples of the technology stack of famous projectsFinal WordsWhen it comes to digital product development, be it a mobile app or a web app, the most important thing to decide is the technology stack on which your app will be built.Choosing the right technology stack can affect development time, cost, application quality, and scalability, which is why it’s important to make the right decision, even if you need to spend more time analyzing the pros and cons of the available solutions.In this article, we want to explain to you what a web application technology stack is, and in addition, we will look at the technologies available, their pros and cons, and try to choose which technology is suitable for a particular case. In addition, we have selected several important factors to consider before deciding on the appropriate technology stack.Once the technologies are chosen, each external project still needs to make a few more decisions, such as the structure of your external application, to help you maintain and scale it.Let’s start by explaining what technology stack is in the front-end.What is a tech stack?A technology stack is a combination of programming languages, frameworks, and software used to build an application.In layman’s terms, web development requires an interface, a back end, and a database. All of these levels form a technology stack.The client-side is everything that users can see on the screen. The most important elements of the client-side technology stack are:HTML, which is responsible for displaying content in the browser;CSS styles the content;Javascript is responsible for the interactive and functional part of the web application.Angular and React are by far the most popular JavaScript front-end frameworks that allow you to create very attractive user interfaces.The server side of the application is not visible to the end-user, it provides data to the client-side. On the server-side, we have to consider the choice:a backend programming language like Java or C#;frameworks like Spring or .NET;a database like PostgreSQL or MongoDB;a server like Apache or Nginx, or choose a serverless architecture.When planning your next application technology stack, you must consider the server and client sides. In this article, we’ll dive deeper into the front-end technology stack and look at the various front-end development options.Overview of Frontend frameworksModern front-end frameworks can manage all three elements of the user interface; they have HTML templates, styles, and interactive features.Right now, there are three of the most common frameworks to choose from; these are ReactJS, Angular, and VueJS.It is good to know more about each technology to be able to choose any of them, so we will go through each and describe them in terms of the external technology stack and front-end architecture.ReactJSReactJS is not a framework; it is a UI library created by Facebook and maintained by a huge community. ReactJS is suitable for less complex applications and is more focused on rich user interface and reusable components on very complex front-end logic.ReactJS has a rich ecosystem that consists of ReactJS itself and the React-DOM library for manipulating DOM objects. Next is React-Router, which is responsible for routing. Plus, it comes with JSX, which is a Javascript syntax extension for templating in ReactJS. To make development easier and faster, React developer tools are very useful.Also, if you are planning a mobile app for your project, ReactJS has a framework for mobile development called React Native, which is very similar to ReactJS itself.From a company perspective, the most significant benefits of ReactJS are its relatively low development costs and short development times. In addition, it is not difficult to find developers with knowledge of ReactJS, and the technology has been on the market for a long time, supported by a large creator and a huge community. This means that ReactJS will not disappear or be out of support anytime soon.Let’s quickly recap when choosing ReactJS for your next project is a good idea and why.If the application you are planning has a rich user interface with a lot of reusable components and a lot of DOM manipulation, then ReactJS is a good idea.If you’re on a tight deadline, ReactJS is also a good idea.If you have an average budget and at least one senior developer with experience planning and building ReactJS apps.This is not the best choice if the application has advanced logic or cannot hire an experienced developer to plan the application workflow.ReactJS is easy to learn, but it doesn’t require developers to write quality code, so you always need an experienced person on the team to take care of it.AngularReactJS’s big competitor is Angular. Unlike the first technology described, Angular is a framework and is good for complex projects with more advanced logic.Angular has a robust development ecosystem built-in like routing or state management. It also has a very clean architecture and everything is split into three different files (logic, template, and styles).Another benefit of the Angular site is that it is easy to integrate with the MVC backend.Angular also forces developers to plan and develop applications before they start working on them, which prolongs development and improves project quality.From the point of view of the company and the management, Angular provides a very high quality of the developed project but increases the cost of the application, and the development time is slightly longer. Angular was created by Google and is backed by one of the largest IT companies, so you don’t have to worry about our code getting out of date quickly. The disadvantage of choosing Angular as the main project technology is that it is not easy to find developers who know this technology, and the training is not easy.Let’s summarize for Angular as well.If the project is large and complex, with complex logic, but a fairly simple user interface, Angular is a good solution.If you care about code quality and want your project to have reliable scalability, Angular is your choice.If you have Angular developers on your team, choosing this framework is a great idea.If the application you are planning is more user interface-oriented and has a lot of DOM manipulation, then it would be much better to choose something else.VueJSThe latest of the most popular front-end technologies currently in use is VueJS. This is the youngest of the three. VueJS, like ReactJS, is a UI library that is a mixture of ReactJS and Angular concepts.Vuex, which is a state manager for VueJS, is much easier to maintain than Redux.VueJS, like ReactJS, requires external freedoms to create a complete ecosystem, but there are far fewer ready-made solutions, which makes it a little risky.Also, VueJS doesn’t have a big company and is not supported by a huge community, so it is not known how long it will be supported.From a management and company perspective, VueJS is a low-budget solution and developers can learn the structure easily, so you don’t need a highly skilled developer with years of experience in this technology. If you want to reduce development time and your project is small, VueJS is a great solution.Let’s summarize the VueJS solution.If the application you are developing is a small side project or a small MVP, then VueJS is a great solution.If you are on a tight budget and are just beginning developers, VueJS is also a good idea.If the project doesn’t have a lot of logic and big user interface requirements, and the deadline is close, VueJS is a good solution.Javascript or Typescript?There are two solutions when choosing a primary programming language for the front-end; these are Javascript and Typescript, which are Javascript syntactic extensions.In some cases, Typescript is required; for example when you decide to build your project with Angular. But VueJS and ReactJS do not require the use of Typescript, although they can have many benefits.First, using Typescript reduces development time as it reduces errors, affects the maintenance of the application, and simplifies it. In addition, all modern frameworks support this technology. Also, it might be easier to design an interface with Typescript if the backend isn’t ready yet, but we know what kind of data we’ll get.The only drawback of Typescript is that it is not very easy to set up with ReactJS or VueJS.The good news is that Typescript is created by Microsoft, so there is very little chance that it will be forgotten and you have to rewrite your application.To summarize, choosing Typescript can simplify and speed up the development process and help avoid frequent debugging, which can be very important, especially before the deadline.What to consider when choosing a technology stack for a project?At this stage, we would like to highlight some factors that should be important for everyone who decides the technical stack of front-end applications.Application sizeThe first factor to consider when choosing a technical stack is probably pretty obvious because the most important is the size of the application. After all, complexity grows with the size of the project.If you are not sure which category your web application project falls into, check the explanation below to categorize the size of your web application.Small web applicationSmall web applications are similar to sites within up to 10 pages, portfolios, and other small web solutions.Medium web applicationMidsize web applications are mostly financial applications, online shopping, or corporate applications, which usually require a more complex technology stack than the small size category.Such projects have more features and are usually developed using frameworks like Node JS, Angular, etc.Large web applicationOn-demand marketplaces and social media are both large projects. These web applications demand better performance, serviceability, and top-notch scalability.In large web applications, the complexity is higher because they require more technical layers and third-party tools to develop specific parts of the project.In addition, it is recommended to have functional as well as non-functional requirements written due to its complexity.Development timeAnother important factor in choosing a technology stack for a project is time to market.If time is short, you need to choose a technology that does not require lengthy planning, development is not difficult, and you can turn to developers who know this technology.For a long time to market, there are several factors you can consider to make the right choice.SafetyConsidering that you are spending a lot of money on an app, you need it to be secure. Moreover, the number of cyberattacks continues to grow, you need to take this seriously to take care of the security of your data.Most of the popular frontend frameworks contain some security guidelines. You need to take care to follow all of these guidelines throughout the development process.The costFor many companies, this is one of the most important factors. Most of the frameworks and tools are free and open-source, but you still need to hire developers, so you need to calculate how many developers you will need to complete an application in a given period using the technology of your choice.Apart from development costs, you need to take into account maintenance and server costs. If you are looking to reduce maintenance costs, it might be worth considering a serverless architecture for your application.Scalability and supportIt is also important to think about the future of the application. If you want it to grow, it must be easily scalable and maintainable. This is easy to achieve; you just need to choose a good project structure and take care of using reliable technologies.Depending on the type of project, you may need to pay attention to several other factors, such as performance. Remember to rethink every aspect of the application so you can plan before launching, and any architectural changes become costly to implement.Examples of the technology stack of famous projectsFinally, what about the famous projects that you use daily? You probably want to know how they were created and what tools were used during the development process. We decided to list the five most popular examples.Airbnb technology stackProgramming languages: JavaScript (front-end), Java, Ruby (back-end), Swift / Java for iOS / Android;Frameworks: React, Ruby on Rails;Database: MySQL, Redis (as a DBMS);Web server: Nginx;Supporting tools: Amazon EC2, Amazon S3, Amazon CloudFront;Data storage: Amazon ElastiCache, Hadoop;DevOps: GitHub, Amazon CloudWatch, Webpack.Netflix technology stackProgramming languages: JavaScript (front-end), Java, Python (back-end), Swift / Kotlin for iOS / Android;Frameworks and Libraries: React, Node.js, WinJS;Databases: MySQL, Cassandra, Oracle, Amazon EC2 (cloud services);DevOps: Jenkins, Gradle, GitHub, AWS Cloud Trail, etc.Auxiliary Communications: Amazon SES, Urban Airship.Snapchat technology stackProgramming languages: JavaScript (front-end), Java (back-end), Objective-C / Java for iOS / Android;Frameworks and Libraries: jQuery, React, Angular, Cocoa Touch, Bootstrap, Moment.js;Web server: Nginx, Ubuntu (as an operating system);Supporting tools: Android SDK, Modernizr, Semantic UI;Cloud storage: Google Cloud Platform, Google Compute Engine.Facebook technology stackProgramming languages: JavaScript (front-end), LAMP stack (back-end), Swift / Java for iOS / Android, C #;Database: MySQL, Hadoop, Cassandra;Web server: Apache;Frameworks: React, React Native (for hybrid apps), Relay;Utilities: Framer, Bitbar, Origami;DevOps: Jenkins, Datadog, Jest, Infer.Spotify Tech StackProgramming languages: JavaScript (front-end), Python, Java (back-end), Swift / Java for iOS / Android;Database: PostgreSQL, Hadoop, Cassandra;Web server: Nginx, Kafka;Frameworks: Bootstrap, Amazon S3, Google BigQuery;DevOps: Helios, Docker, Datadog.Dropbox tech stackProgramming languages: JavaScript (front-end), Python, Rust (back-end), Swift / Java for iOS / Android;Database: MySQL;Web server: Nginx;Frameworks: Amazon S3, Amazon CloudFront.OutputTo make the right choice among all the interface technologies available on the market, you must carefully study the most important functions of the application and look at the factors that may somehow influence your decision.Different applications need a different approach, so it’s worth remembering that if a previous project was done with Angular and was successful, the current one may need different technology.Feel free to contact us if you have any questions or need to hire a development team to create your project from scratch. Also, remember that there are no intractable problems, there is not enough skill and patience.What is Tech Stack and how to choose the best one for your project was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreJun 24, 2021
Everything You Need to Know About the Software Development Lifecycle: The Complete Guide in 2021
Software is the epitome of complexity. However complex, it may be, it must be flexible, easy to maintain, and easy to improve. How can this be achieved? Planning every step of the software development process is a prerequisite for a successful product.Understanding the concept of the Software Development Life Cycle (SDLC) is a great starting point for planning any IT project. This article aims to cover the concept of SDLC, its stages, and methodologies.Table of contents:Definition and reasons for choosing SDLC (Software Development Life Cycle).7 stages of SDLCMore about each of the stagesFinal WordsWhat is SDLC?The Software Development Life Cycle (SDLC) is a series of sequential phases that ensure the quality and correctness of the created software with all the necessary and additional functions and an intuitive user interface. The SDLC begins with the decision to build the software and ends with its decommissioning. It consists of a set of tasks that must be completed at each stage of development.The development cycle ensures that the final digital product meets the expectations of the client and the development team, delivering planned features, speed, performance, and more.The maintenance phase continues throughout its life to keep it up to date with the latest technology and tools.Why IT projects need SDLC? This is probably the only way to ensure that the resulting software meets the requirements of the business and its users. Poorly planned software projects get out of hand. Violation of budget and deadlines. Uncertainty about the future of the project grows, hasty decisions, and futile attempts are made in the hope of taking control of the project. With SDLC, customers can enjoy a predictable development process. For software developers, this means seeing the big picture and understanding what they are doing and why.Take a look at the 7 Stages of the Software Development Life Cycle (SDLC)Let’s take a closer look at each of these stages.Stage-1: the stage of creating an idea or collecting requirementsThe first stage of the SDLC mainly involves a detailed discussion of the requirements with stakeholders and industry experts. Alternatively, business analysts can use information from clients. Based on a detailed discussion, an approximate view of the final software is being developed.After this stage, everyone should have a clear understanding of the project scope, budget, resources, and timeline, as well as possible risks and quality assurance requirements.All requirements are set out in the Software Requirements Specification (SRS). This document will be used frequently by project managers, business analysts, and software developers. However, the team is finalizing them at the stage of a feasibility study.Stage-2: Stage of approval of the feasibility studyAfter completing the requirements analysis phase, the next step in the SDLC is to identify and document the software needs. This process is accomplished through the “Software Requirements Specification document”, also known as the SRS document. It includes everything that needs to be designed and developed during the project life cycle.5 types of feasibility checks:Economic: Can we complete the project on budget or not?Can we view this project as cyber law and other regulatory frameworks/conformity?Feasibility of the operation: can we create the operations that are expected from the client?Technical: It is necessary to check if the current computer system supports the software.Schedule: Decide if the project can be completed within the given schedule or not.Stage-3: DesignIn this third step, the system and software design documentation is prepared by the requirements specification document. This helps define the overall architecture of the system.This design phase serves as input to the next phase of the model.At this stage, two types of project documentation are developed:Stage-4: Development StageAfter completing the system design phase, the next step is coding. During the SDLC coding phase, the development team brings the designed product to life. The team either writes code from scratch or relies on frameworks to speed things up. During the coding phase, tasks are divided into blocks or modules and assigned to different developers. The longest stage of the software development life cycle is performed in a pre-planned programming language.Stage-5: Quality assurance and testing of the developed product.After the development team finishes coding the software, the QA team checks it for bugs and issues. This is done to ensure that the entire application works as per customer requirements.If any error occurs, it is returned to the development team. After fixing the bug, the QA team needs to retest it. Quality assurance is an ongoing process that continues until the software is completely bug-free and compliant.Unit Testing: Each module or group of related modules is tested for expected results. If there is a flaw in any of them, the developer should fix it.Regression testing: a set of tests aimed at detecting defects in already tested areas of the application. This is done to make sure that fixing some bugs did not cause others to appear and that the update of the build did not create new defects in the already tested code.Performance Testing: Aimed at figuring out how the software performs under workload (speed, responsiveness, and stability).Security Testing: As the name suggests, this type of testing aims to verify the security of a system.Usability Testing: This type involves testing custom components to find out if the software is intuitive, easy to use.Stage-6: Deployment of the final version of the software.This is the stage in which the actual installation of the generated solution takes place. This is done in stages according to the implementation plan. The newly created and tested application is moved to production, including data and component transfers, while only certain changes will be deployed in future releases. Depending on the complexity of the project, this can be a simple release (if the project is simple) or a phased release (in stages) for a more complex project. Now system analysts and end-users can see and try out the finished application.Stage 7: SupportAfter the system is deployed and customers start using the developed system, the following 3 actions are performed:Bug fixes related to some scripts that have not been tested at all.Integration of additional features to improve software performance.Updating software for updated platforms.The focus of this SDLC phase is on ensuring that needs continue to be met and that the system continues to operate according to the specification mentioned in the first phase.Final WordsSDLC is a multi-step process that includes planning, design, implementation, development, testing, and system maintenance.The system in question is created per the requirements collected during the SDLC process.The final system is designed according to the needs of the end-users, and the performance standards are assessed based on the product’s compliance with SDD requirements.SDLC helps developers better assess and meet the needs of their customers. Although the process is rigorous and requires a specific number of steps to be followed in a specific order, it ensures that the final system delivered is one of the best.If you are looking for software development services, connect for a free consultation at a convenient time for you.Everything You Need to Know About the Software Development Lifecycle: The Complete Guide in 2021 was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
Read moreMay 24, 2021
Unit Space is Recognized by Techreviewer as a Top AngularJS Developer in 2021
Unit Space has been named one of the top AngularJS developers by Techreviewer.co. The list of leaders was compiled based on expertise, experience, quality of services, and reliability of the development companies. To make an assessment, Techreviewer collected information about our services and client’s reviews. Their research placed us in the list of top Angular companies out of over 500 competitors.Techreviewer conducts annual research and regularly updates market leader lists. Analysts’ findings help those who are looking for service providers of complex technical tasks.Unit Space is known to be headquartered in Ukraine, Kharkiv. The company started its work 4 years ago — in 2017, and now specializes in High-Quality Software, E-commerce, and apps for business and start-ups. They help to find new ideas for business growth and then create profitable products and effective solutions.Unit Space is a business-oriented software development company committed to helping businesses kickstart, develop, and succeed. Possessing deep practical knowledge in various fields, the company helps its clients to solve their business challenges as soon as possible, while maintaining high quality and efficiency.About TechReviewer.coTechreviewer is an independent IT market research and analysis company. The platform helps to find the best companies that provide high-quality IT services for technical support, development, system integration, AI, Big Data, and business analysis. As a result of objective market analysis, the Techreviewer platform determines the most successful and reliable IT companies and makes top ratings for each of the service categories. Techreviewer’s ranking lists help organizations select the right technology partner for their business needs.Unit Space is Recognized by Techreviewer as a Top AngularJS Developer in 2021 was originally published in Unit Space on Medium, where people are continuing the conversation by highlighting and responding to this story.
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