Simply Flows, Author at Simply Flows

New Jobs Process Automation has Created

One technology segment has been rapidly growing in the last few years: the Robotic Process Automation (RPA). Automated processes improve productivity, eliminate human errors, and reduce costs. Automation also has the ability to complete tasks significantly quicker than a regular employee would. Some people fear that robots are taking away jobs from people. And robots are taking jobs that used to be people based; however, automation and robots have the ability to create jobs as well. Here are a few new jobs that process automation has created.

RPA Developer

An RPA developer is a crossover between a software developer, a business analyst, and a project manager. They work with the business operations to analyze current processes and suggest automations for parts or the whole process. The end goal is to transform existing, primarily manual and time-consuming processes into RPA systems. Contrary to their software developers counterparts, RPA developers do not write much code. Instead, they use third-party solutions to build ‘bots’ or ‘robots’, which carry out the manual operations. In addition, RPA developers are responsible for deployment of those ‘bots’, for testing the system, for troubleshooting and fixing issues, and for documenting the new systems. In a nutshell, RPA developers introduce technology that drives up operational efficiencies.

Chatbot Developer

Nowadays companies need to communicate with their customers 24/7, they want their customers to know they care. To help with communication, many businesses add chatbots to their websites. Behind these chatbots are software developers, specializing in implementing chatbot technology. Chatbot developers design and implement voice or text chatbots to be used on websites as a form of a contact center for the customer. Such developers need to have experience in software development, functional design, dialog flow design, and machine learning algorithms. They create chatbot systems that simulate human conversations. Furthermore, they test, debug, and maintain chatbots throughout their lifecycle.

RPA Consultant

RPA consultants bring a combined knowledge of business and technology. They are usually hired by the company to evaluate the current state of operations and to suggest improvements. After initial evaluation, they prepare a strategy for employing automation platforms and tools to achieve higher productivity and efficiency. Implementing RPA may not be straightforward or cheap, therefore RPA consultants rank the business processes by their ROI. Then the organization decides which processes to automate first depending on various factors like budget, time, resources, urgency, and the beforementioned ROI.

RPA consultants need to work across departments and teams to come up with the most suitable solutions. Most all of these specialists engage with clients to identify processes for automation, specify the goals, and then suggest a strategy for achieving those goals. While others take on the implementation and the quality assurance of the solution as well. All consultants must have excellent communication skills, along with advanced analytical and problem-solving skills. Additionally, RPA developers need to have industry-specific knowledge and experience with various platforms.

Process Improvement Analyst

Analysts act as the liaison between the business and the technical team. Their main responsibilities are to understand the business problem and translate that into technical requirements. After this, the tech team is ready to start solving the problem. Analysts need to have a deeper understanding of the business but also knowledge of the underlying technology. Process improvement analysts focus on company’s operations. They analyze business processes and find the ones that need to be improved. The end goal is to streamline processes, eliminate redundancies, and reduce costs.

Ultimately, change can be scary. The idea of automation and systems taking over jobs that were previously done by humans is daunting. But with change also comes opportunity. Process automation creates new jobs to help advance technology even further. RPA tools and systems have the ability to bring us into a new age and we’d better embrace that.

Learn more about how Simply Flows can help you bring automation to your business.

Free Digital Marketing Apps for Small Businesses

Every business owner is looking for marketing tools that allow them to accurately market and promote their products or services, with hopes of gaining new customers. Marketing tools can serve many different functions across a business and can come in several forms. Here are the best free digital marketing apps we have identified. They are all great for small business owners to have under their belt.

From image creation, file sharing, posts scheduling, to sending email campaigns, you are covered by the apps we’ve selected for you.

Sendinblue

Email marketing is one of the best ways to keep your customers updated, infromerd, and nurtured. With applications like Sendinblue, companies can build custom email campaigns for their customers. You can send up to 300 emails a day with their free plan. Email marketing can entice customers to spend more money with a business because of possible promotions sent. Also, you can share product and company information with your customers and give them an insight into the business. Sendinblue offers tools for creating visually appealing and engaging emails. Additionally, it allows scheduling of your email marketing campaigns.

Hootsuite

Small business’ biggest marketing tool is social media. It is free and there are many different platforms that range in target audience and focus. Hootsuite is a tool that helps you manage and schedule posts to various social media platforms. With Hootsuite you can plan ahead and prepare your post content in advance. You can also collaborate with your team members through this tool. In addition, Hootsuite can be used to curate the content you’ll use on your social media. Tools like Hootsuite benefit small businesses because posting consistent and quality content is important for building a brand. Social media is a great way to connect with your current and potential customers. Also, it gives your business visibility and trustworthiness.

Canva

Whether posting graphics on your social media, sending emails, or updating your website, graphics and visuals are used. Canva is a great tool for creating content such as images, flyers, presentations, etc. You can access many features that Canva offers for free or opt for the paid version for additional features and opportunities. Tools such as Canva are important because quality imagery is something that could get you recognized and is a great way to get customers’ attention. With Canva, small businesses can create an unlimited amount of unique branded content specific to their business and further build their brand’s recognition.

Dropbox

With small business owners managing all aspects of the business, having an organizational and communication platform is key. You can easily store and share documents in Dropbox. Additionally, you can collaborate on projects. This enables owners to run their business smoothly and keep recent and older documents easily accessible and securely stored. You can communicate with your teammates through Dropbox and even create calendars. The best part is that Dropbox is free, so small businesses can get a high quality organizational tool at no cost.

There are many ways that small businesses can manage the marketing mix most effective for them. But using tools will help smooth marketing operations and make knowledge and tasks easily accessible and transferable. Having the above free digital marketing apps in your tool belt is great as each has its specific purpose. Lastly, try out different marketing tools, especially if free, and see which are the most beneficial to you. The end goal is by utilizing these tools to get new customers and new sales, ultimately growing your business.

Learn how Simply Flows product helps small business owners.

6 Free Tools to Get Solopreneurs Started

Solopreneurs are responsible for all aspects of the business. They don’t have the resources or staffing like larger and more established businesses have. They are super careful with their spending, since they often bootstrap their business (i.e. use their own savings) or rely on loans from friends and family. However, there are many free tools that business owners can use that can help them in all aspects of running their business. We have collected a list of top free tools for solopreneurs to use in their day-to-day communications and business operations.

Wix

Every business needs a website. They need a touchpoint for customers to see so they can learn about the business, see their products, and potentially make a purchase or sign up. Wix is one of the best and easy to use website builders on the market. You can make a free account on Wix and build a website that has full feature capabilities. Furthermore, Wix allows you to create websites that are mobile-friendly. This way customers can access your website conveniently.

Glip

Glip is a video conferencing application. it is free but, unlike others, meetings can run as long as 24 hours. The number of people limitation being much higher than on Zoom, Google meet, etc. With Glip you can be on a conferencing call with up to 100 people. The time limit for their meetings is up to 24 hours. With Glip you can still screen share and send messages to the participants or privately. In addition, you can create tasks and agendas for the meetings.

Wave

With Wave, business owners can have better control of their finances. Wave allows you to receive and send an unlimited amount of invoices and you can make an unlimited amount of transactions. Furthermore, it has an e-commerce feature so you can sell your items on your website. Not only is Wave good for payment transactions but it can also be used for human resources and payroll. However, their payroll feature is a part of their paid-subscription services.

Google Drive

Using Google Drive can help owners with keeping all their documents organized. Certain files or folders can be shared with team members, vendors, customers, and community members for collaboration and review. It has ample free storage and you are able to access files when you are offline. Additionally, Google Drive can be linked to other applications so you can share work across applications.

HubSpot

Hubspot is an easy to use customer relationship management (CRM) tool. They offer free tools for sales, marketing, operations, and customer support. In addition, you can have an unlimited amount of users. Also, you can add a live chat and chat bot to your website to help communicate with customers and assist them in online needs. Hubspot can also track website activity and give you feedback on your customers.

SurveyMonkey

If you’re ever wondering how your current customers are feeling or what they want to see in the future, a survey is the best way to ask. SurveyMonkey is a survey application that allows you to make multiple free surveys. You can send and share these surveys with anyone. Surveys are a perfect way to connect with a customer and receive feedback.

Solopreneurs are focused on growing their business. Initially money may be scarce, so startup owners should spend it wisely. At this stage of the business, free applications are their best friends. There are many free tools available that owners can use to help them grow their online presence and their customer base.

Find out more information on how Simply Flows can help you as a solopreneur.

10 Simple Ways to Be More Productive

Sometimes we get in slumps and aren’t as productive as we’d like to be. Or maybe our workload just doubled and we need to get more work done in the same amount of time. There are days we feel like we aren’t getting anything done at all. Other times we get distracted or interrupted so much that our whole day seems wasted. Whatever the case, here are 10 simple ways to be more productive.

1. Do the Most Work at Peak Timing

Everyone has a natural body clock. Some people have more energy in the morning, while others feel at their best late at night. Take advantage of the times you feel most energized and set a goal to do the most work during those productive times. Leave the smaller and less important tasks for when you are more tired.

2. Stop Trying to Multitask

It can be stressful when a lot of tasks pile up and subsequently you try to work on multiple tasks at a time. But the key to getting more done is to try and focus on one task at a time. When you start a task, try to work through completion, so you can give it dedicated time and attention. Working on a singular task also gives you the satisfaction of having completed tasks instead of a bunch of half-done ones.

3. Create and Narrow Down a To-Do List

Make a to-do list of all the things that you need to complete. Then, prioritize by importance and put the most important task at the top. This way as you are working down the list you are getting the most important tasks done first. You can move the remaining tasks to the following day or scratch them from the list if no longer relevant.

4. Delegate

If you are working on a team but are already overwhelmed with work, you should utilize the people around you and delegate tasks. Splitting up tasks minimizes stress and allows for projects to be done faster because a single person is not doing all the work. Plus, you don’t want to become the project’s bottleneck.

5. Get Enough Sleep

When you get a good night of rest, you feel more energized and rejuvenated. When you feel energized, you have the ability to do more work. The brain gets exhausted after not getting enough sleep. This makes it more difficult to focus, which results in us making more mistakes, and work takes longer.

6. Eat Healthy Meals

It can be easy to get caught up in a task and forget to take care of ourselves. But eating is how we fuel our bodies and brains. Taking time to have full and healthy meals can give us the energy to get a substantive amount of work done.

7. Follow the 2-Minute Rule

The 2-minute rule means that if you have anything that can be done in 2 minutes or less, do it right away. These are small tasks that can be done quickly but can easily pile up. It’s better to get small tasks done first, so that you no longer have to be concerned about them.

8. Be Proactive, Not Reactive

Set yourself up for success. If you have upcoming work that can be planned for, try to make time to plan ahead. Or if you know you are about to start a new demanding project, make sure to complete all incomplete tasks before the project’s start date, so you won’t get overwhelmed.

9. Minimize Interruptions and Distractions

Find a quiet space that’s free of distractions and anything that can interfere with your productivity. If you find yourself always going on social media or your phone, download applications that can lock your phone, so you can focus on work. Or simply have self-control and block out your surroundings and get down to business. Closing out tabs and applications, especially the ones constantly popping up notifications, is another great way to eliminate distractions. Dedicate focused time to more involved tasks and make sure to communicate that with your team, manager, family, or roommates. A ‘Do not Disturb’ sign/mode usually helps.

10. Reward Yourself

Work can be stressful. And the need to always be on can get the most of you. But it is important to reward yourself, so you don’t burn out and continue to be productive in the future. A reward can be taking a break after completing a task, stretching out or exercising for a while, having a snack, or chatting with a friend. Any reward is a good one, as long as it makes you happy.

There may be times when you feel you have not achieved much. Hopefully, following these tips, you will be more productive. Eventually they will become commonplace and work will never stress you out again.

If you want to find out more productivity tips, check out this article .

Also, you can find some helpful time management tips here.

5 Ways Automation Tools Help Improve Customer Relations

Businesses adopt task and process automation at a fast pace. As the technology evolves, it spreads across more and more verticals, roles, and use cases. Automation makes processes faster, smoother, and reliable. In addition, it increases productivity, improves quality of products and services and reduces lead times. The business is automation’s prime beneficiary. However, given the cost savings and productivity gains it brings, customers are positively impacted, too. Did you know that process automation tools can help improve customer relations?

1. Customer Personalization

Communication with customers manually is hard to manage and scale. In fact, it becomes nearly impossible with customers across the globe, trying to get in touch with the company from different time zones. This is where customer experience automation comes in. This can range from personalizing the website when users log in, addressing customers by name or offering personalized recommendations. Personalization makes customers feel appreciated and recognized, increasing their brand loyalty.

2. Quality and Consistency

Automation can remove human errors and make processes run smoothly. When customers interact with a business they want quality and consistency of service. If a customer has made a purchase, they want to track their order from shipment to delivery. Customers can receive real time updates via text messages or emails. Ultimately, the automation tools improve the product or service. And that means a better customer experience.

3. Ease of Use and Customer Support

Improving customer support has become one of process automation’s major trends lately. Some tools have become commonplace – chatbots, for example. Chatbots automatically respond to customer’s questions. They ‘know’ the user well and offer customizations and help based on location, preferences, and other context. Guided tutorials of software products is another real-world application.

4. Improves Relationship

When customers feel appreciated by a business, they are more loyal and tend to return to purchase again. Automation can provide customers with attention and support 24/7. It personalizes the way each customer is addressed and improves the customer’s interaction with a business. Personalization and availability subsequently makes customers feel recognized and appreciated by the business.

5. Scalability

No matter how hard a business tries, there will be a point when customer care specialists cannot manually handle the load of customer questions or issues. There are different reasons for this. For example, customer support may be temporarily understaffed. In other cases the timezone differences reduce coverage. Other times holidays and vacations get in the way. Whatever the case, the business will have troubles responding to customers’ needs. This is where automation offers unparalleled help. Once you have automated a process, it can scale up indefinitely. The best candidate for automation is the first tier of support. That is where customers ask basic questions or need resources like user guides. Automating this first line of support takes a huge chunk off the plate of already overwhelmed support team. Also, it shortens the overall wait time, allowing more people to get help.

Automation has the ability to tailor experiences based on their customer needs. Also, it allows for personalization, consistency and ease of use. And last but not least, many more customers can be taken care of via automation. Therefore, automation tools can improve customer relations between the business and their clients.

Learn how Simply Flows can help improve your customer relations.

12 Best Time Management Tips

Time management is how we distribute our time to complete necessary activities. Good time management can allow you to get more done in less time and relieves a lot of stress. But when work responsibilities pile up and deadlines approach, it’s easy to get overwhelmed. We’ve collected the best time management tips to keep you on track – successful and stress-free.

1. Create Goals

Before you begin your day or week, set goals. Take note of tasks that you want to accomplish by a certain date. Goals allow you to see what needs to be done. It’s also important to set achievable goals and make sure they are realistic.

2. Use Time Management Tools

Time management tools exist for a reason – they track work, time, and people or budget. For example, use Toggl to track how much time you spend on each activity. Calendars are immensely helpful to set reminders for meetings and deadlines, or to block off time for focused work.

3. Prioritize

This is the most important among all time management tips. Put the most important tasks as a priority. Just a note, ‘urgent’ is not the same as ‘important’. Make sure tasks with the highest priority get done first. All others you can handle later – when you have the extra time.

4. Establish a Routine

Get into a routine. Try to set specific times to do certain tasks and stick to that time. If you put yourself on a schedule it will be easier to complete your work.

5. Set Time Limits for Tasks

Work and responsibilities can feel like they go on forever and you can easily spend too much time focusing on one task. It is important to set a time limit for a task so you don’t wear yourself out working on a singular project for an extended amount of time. Time limits indicate when it’s time to stop and break or stop and move on.

6. Plan Your Week Before It Starts

If you take the time to plan your week before it starts, it can alleviate some of the stress that you might have during the week. A planned schedule can keep you on time and on task. And once the week starts it is hard to get around to planning when you are already doing the things you are supposedly planning for.

7. Take Advantage of Your Most Productive Times

If you know you are most productive between the hours of 1pm -3pm then that is when you should get down to work. Take advantage of how your body naturally feels and get work done. Most productive times can be used to achieve bulk loads of work.

8. Break Tasks up to Keep from Feeling Overwhelmed

If you have a large project or one with multiple parts, break it down. Separate your tasks and complete them in the order they need to be completed. Small tasks are more achievable than large tasks and small tasks make work more manageable.

9. Take Breaks

Take breaks between tasks or when you feel like you need one. Break prevents burnout and can alleviate stress. Work is important but so is your well-being and breaks are a way to take care of yourself.

10. Try Not to Procrastinate

Work can be daunting but it’s best not to procrastinate. When you procrastinate work doesn’t go away, it just piles up. Putting off work can feel good at the moment but it only leads to a lot of stress later.

11. Use a To-Do List

A to-do list lets you know what needs to be completed for the day. A visualization of your tasks allows you to have a better understanding of what needs to be done. A to-do list also allows you to check tasks off. Whenever we complete a task, our brain releases dopamine – the neurotransmitter responsible for our feelings of accomplishment, satisfaction and happiness. Checking tasks off our to-do list makes us feel good and motivates us to go on and complete more work to get more dopamine and extend the pleasant feeling.

12. Knowing When to Put a Task on Hold or Say No

If you know that you are overwhelmed, learn how to say no or put things on hold. Saying yes to tasks you can’t complete just stresses you out and leads to subpar work. The tasks can always be given to someone else or just be completed when your more pressing priorities are completed.

Work and responsibilities can be overwhelming and stressful. However, having tips and strategies to manage that stress is beneficial. We’ve compiled a list of the best time management tips. You don’t have to use all of them, though. Implementing even one of them in your routine will leave a big impact.

Learn how Simply Flows can help you better manage your time.

Robotic Process Automation: RPA Benefits

What is RPA?

Robotic Process Automation (RPA) is a software technology. It combines task automation and artificial intelligence (AI) to mimic repetitive processes usually done by people. Modern RPA solutions are much more advanced and dynamic than their predecessors, which only automated simple tasks. Nowadays RPA can recognize patterns, learn from the data, navigate systems, respond to customers’ questions, etc. Robotic process Automation is moving towards Intelligent Automation, fueled by AI. Not only can it achieve the same results as people, but RPA can complete tasks much quicker, without making any mistakes. And that is a game changer for the business – competing for talent, striving for cost effectiveness, and avoiding the high toll of data errors. Let’s further explore the RPA benefits.

Pros of RPA Systems

RPA systems complete repetitive mundane work that is usually the responsibility of knowledge workers. As a result, this increases employee satisfaction and productivity because they are no longer spending hours on monotonous work. Indeed, a study of 10,500 office workers from 11 countries around the world showed that over 75% believe spending time on tasks that could be automated is a poor use of their skills.

RPA saves time and money for the business and improves the overall quality of product and services. Since these systems are more accurate in their executions, they save a lot of money from auditing and correcting errors caused by humans. Furthermore, RPA can handle high volumes of tasks, without the need of overtime or extra hires, once again saving a lot of money for the organization.

RPA Across Industries

RPA systems are versatile, with a myriad of use cases. The technology is applicable across many different industries. It can help the insurance industry with automating the process of reviewing claims or risk mitigation and risk ratings. The healthcare industry is one with an abundance of information and medical professionals spend endless hours manually entering patient information. Many business processes like updating patient information, processing claims, motioning records, etc. can all be completed through automation. Lastly, it can help the manufacturing industry with migrating data, simplifying and updating bill of material statuses.

RPA is moving to the front office at a rapid pace. Customer care becomes more and more involved, dispersed, outsourced, and… terrible. Let’s be honest, keeping a customer/patient/prospect on the phone for half an hour is just not acceptable. Transferring your call between several different tiers/departments/companies is frustrating and inefficient. RPA has a huge potential to improve the journey of the customer and their relationship with the business.

Robotic Process Automation technology is on the rise. It automates manual repetitive tasks and streamlines processes currently done by people. RPA systems have many advantages like saving time and money, eliminating data errors, increasing job satisfaction, and reducing turnover. As RPA systems evolve, more companies will adopt and benefit from such solutions. RPA is a game-changing technology that carries indefinite possibilities. Furthermore, not only does it automate high-volume, repeatable tasks but by doing so it frees up time for impactful work and innovation. RPA is the future of work. Therefore, companies embracing that technology are leaping into the future.

In this article we’ve covered what RPA is and its main benefits. Interested to learn more about why RPA is the future?

Robotic Process Automation is the Future

What is Robotic Process Automation?

Robotic Process Automation (RPA) is a software that automates repetitive business processes. It utilizes technologies like API, webhooks, screen scraping, and character optical recognition. RPA connects different applications with one another and makes it possible for data to flow through the different applications. RPA software imitates the human interactions with systems but does it in a much faster, reliable, and safe manner. Some of the RPA solutions have low-code capabilities allowing users to build integration scripts. Others are no-code, where even people with no technical experience can automate their work all by themselves. Not surprisingly, RPA has been gaining a lot of popularity and adoption lately. And it’s not going away. Just the opposite, Robotic Process Automation is the future.

Why is RPA Making a Rise?

The RPA market is rapidly growing. According to Gartner, its compound annual growth rate (CAGR) is expected to be 49% between 2020 and 2027. Even though most of the RPA technology had been around for a little while, it really started booming in the last decade. Furthermore, the pandemic and working from anywhere accelerated the adoption of automation by businesses. The RPA market is still nescient and therefore quite fragmented. We are already seeing consolidating happening, as it matures. Currently, the 10 largest RPA providers hold over 70% of the enterprise market. Due to an enormous demand to automate legacy paper-based and manual processes, the need of RPA solutions will continue to grow.

How does RPA Work?

Most RPA vendors offer subscription-based services. Customers can choose between several tiers, depending on their needs. Some may only need a couple of workflows, while others will require a high-volume automation. Many solutions have a free tier or a free trial, so users can try them out before they decide on a purchase. Also, most tools support cloud applications only but there are some that work with desktop software as well.

There are many different ways organizations can use RPA across different departments. RPA can help improve finance and accounting processes, recruitment, supply chain management, customer care, as well as other areas. For example, RPA can assist in processing a huge load of documents like contracts with e-signatures, uploading documents, or approval procedures. Additionally, people specialists can use RPA to update employee information and automate time sheet submission processes.

Where is RPA Headed?

• RPA is still developing and evolving. It started by automating simple tasks and has been evolving to a much more complex solution. Nowadays it utilizes AI technologies like process mining, machine learning, and natural language processing. Next, it will enter the AR/VR world (metaverse).

• Additionally, it is moving from strictly back-office operations like accounting and invoicing to front-office processes like customer care.

• At the beginning RPA was only accessible to the big enterprise due to its high cost. Recently, we see more and more RPA technology offered to the small and mid-size businesses.

• As with the rest of the technology, RPA has also been moving to the cloud. And this trend is going stronger.

• Originally RPA was best suited for the BFSI – banking, financial services, and insurance. Nowadays everyone needs their work automated, so they are more productive.

As RPA is on the rise and as it continues to cement its role in the future, more organizations are starting to adapt. Companies employ RPA to optimize operational efficiency, accelerate an existing process, or to optimize cost. RPA will eventually be an end-to-end intelligent system automating complex business processes. Organizations are already realizing the benefits and will continue adopting the technology. Indeed, Robotic Process Automation is the future.

Learn how Simply Flows can help transform your business .

Types of Cryptocurrencies that Exist Today

When cryptocurrency first appeared on the market, it was an obscure subject. There were only a handful of coins. Nowadays there are thousands of cryptocurrencies (over 13,000, in fact, according to CoinMarketCap). Some are more popular such as Bitcoin, Ethereum, and Dogecoin. However, there are less known cryptos such as Fusion or Binance Coin. Crypto is a nascent market, with a lot of changes going on, therefore in a constant flux. Even though there are currently thousands of cryptos, they all fall under three main types of cryptocurrencies.

Bitcoin

Bitcoin was created in 2008 by Satoshi Nakamoto – a pseudonym of a person whose identity is still a mystery. This was the beginning of a technological movement. Also, it introduced a new advanced technology called blockchain. Bitcoin is a digital currency and allows you to send money to other people. Bitcoin is also decentralized. One does not need a third party to make transactions and use the currency. Something else, people are able to make anonymous transactions. The underlying blockchain technology makes that possible.

Altcoins

Some altcoins are very similar to Bitcoin with a few small changes. But there are other altcoins such as Ethereum and Chainlink, that are entirely different and built upon a new technology. These types of altcoins introduced the idea of a smart contract. Smart contracts automatically execute transactions. Transactions take place when all of the conditions in the agreement are met. These conditions are previously agreed upon and written into the contract when it is created. Smart contracts do not have a third party involved. A contract could be the sale of a business or the sale of a stock. The introduction of smart contracts also allows people to build applications on these blockchains. These apps are known as dApps or decentralized apps.

Tokens

Tokens are completely different in the sense that they don’t have their own blockchain. They are a form of currency on dApps. When using dApps people can make a purchase using tokens or they can receive deals and benefits. The best part about dApps is that there is no need for a middle man taking a commission or reselling your data.

Ultimately, there are many different types of cryptocurrencies that exist today. However, there are three main types that they fall under. They each have different purposes and functions. You can transfer money, build applications, and make purchases on those applications. Cryptocurrency is versatile and has the potential to serve many different needs today and in the future.

Learn how Simply Flows can serve you and your business.

The Evolution of Day Trading

Day Trading: Almost 150 Years Old

Traces of day trading can be detected back to as early as the late 1800’s. When the telegraph was invented, the stock market used the technology to create the first ticker tape. Ticker tapes then made it easy to communicate information and developments about transactions brokers were making on the stock floor. Brokers would use this information to make educated decisions in the stock market during the day. And during these times there were many barriers to entry when it came to the stock market, so there were not a lot of day traders. Let’s find out how the evolution of day trading played out over the more recent years.

Evening the Playing Field

In the year of 1971, the National Association of Securities Dealers created an electronic communication network (ECN). An ECN is a computer system that matches buyers and sellers for stocks in the stock market. It also allows for trade to take place outside of traditional or standard trading hours, so investors have 24/7 news to react to. ECN’s introduced ease of use and timely matched sellers and buyers, making the process a lot easier to participate in.

In 1997, online brokers launched services that made it even easier for investors, and ordinary people, to invest in the stock market. Individuals now had access to stock prices, trading activities and trends, just an overall live insight on the market. Accessibility of the stock market and the ability to buy and sell, allowed day trading to rise in popularity. This made it possible for ordinary people to participate.

Welcome to the 2000’s

This is when day trading started to be taken more seriously. We can go on the internet and look up Yahoo Finance and find stock prices updated by the second. We can access updated stock information, receive financial news about companies, and upcoming developments on the market like IPO’s. There are plenty of trading apps and websites. Today, day trading is a popular activity and almost seen as a commonplace in the financial markets. It has also risen in popularity amongst common people who do not work in the financial space. With the rise in technology and online trading applications, the evolution of day trading has happened quickly. Day trading has now become something everyone with a device connected to the internet can participate in.

If you are a day trader, find out how Simply Flows can help you evolve.

Author: Simply Flows