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PXP Financial, the experts in global acquiring and payment, services, today announces a new partnership agreement with Foregenix, global leaders in cyber security in payments, digital forensics and PCI compliance.

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Today, trinamiX GmbH, a developer of cutting-edge biometric and mobile NIR spectroscopy solutions, unveiled a first-of-its-kind Consumer Spectroscopy solution running on the latest Snapdragon® 8 Gen 3 Reference Design.

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Innovation is the main source of competitive business advantage, and, as a result, it determines the success of every leading company in any industry. However, the basis of a leadership strategy is not even access to technology itself but the company’s ability to bring its technological potential in line with market requirements. On the one hand, this balance of power avoids the development of technologically complicated products that are unable to set a new direction in the development of consumer demand and therefore fail in the market. On the other hand, it helps to avoid a situation where emphasized attention to market requirements without a correct understanding of technological capabilities leads to extensive rather than intensive product development. In this case, the business fails to gain significant opportunities from innovative approaches. To avoid the launch of super-complex projects, but at the same time create revolutionary products that meet the market requirements, during the entire innovation process (from the initial idea to the release), companies must effectively implement the directions of new developments — R&D solutions. According to the , R&D in the United States today is funded and performed by several sectors, including the federal government, state governments, businesses, academia, and non-profit organizations, for different goals. Research and Development Funding and Performance Fact Sheet Let’s answer the question, “What does R&D stand for in business?”, what it is, and why it really matters. What Is R&D in Business? R&D Definition Research and development is a complex of activities and services aimed at obtaining new knowledge and practical application when creating a new product or technology. These are unique solutions that are absolute innovation. R&D strategies include research (deep market research to stay informed about all innovative tools, techniques, and methods) and development (implementation of ideas and expertise that are absolute innovation). It is what helps organizations to carve out a new niche in the marketplace by creating something that hasn’t been done before. What is R and D in business? R&D allows reducing the costs of enterprises after introducing innovations, increasing the rate of circulation of capital, bringing a new product or service to the market, reducing risks, etc. A business pursuing innovation, as a result, outstrips the competition and occupies a leading position in the market. The importance of research and development in organizations is confirmed by global trends, statistics, and market dynamics. According to the data of by Congressional Research Service, since 2000, total global R&D spending has more than tripled, from $677 billion to $2.2 trillion in 2019 and more than $2.4 trillion by now. Global Research and Development Expenditures In 2021, are China (621.5 billion dollars), the United States (598.7 billion dollars), Japan (182.36 billion dollars), Germany (127.25 billion dollars), India (93.48 billion dollars), South Korea (91.47 billion dollars), France (67.03 billion dollars), Russia (60.57 billion dollars), United Kingdom (51.61 billion dollars), and Brazil (38.15 billion dollars). leading countries by gross research and development expenditure worldwide The Role Of R&D: What Does R&D Stand for in Business? What does R&D stand for? It stands for and it is about creating strategies for the company’s development based on innovative approaches, prospective directions, and ways of modernization. The success and profit of the entire enterprise depend on R&D solutions, analysis, and prediction of development direction. Research and development In a business context, R&D is an activity that companies engage in to develop new products, processes, technologies, and services, or improve existing ones. And although it is believed that only tech giants can afford R&D departments, in today’s reality, research and development activities for small businesses are just as effective. This is what makes any business more competitive. R&D solutions allow: identifying new technologies for product innovation to provide business with a new place in the market; developing new products, services, and patent solutions; finding out more about the market and customers; pushing beyond boundaries and finding innovative and profitable solutions, saving time, money, and creating new opportunities; providing long-term benefits from creating new differentiators in the marketplace to improving existing products and services; implementing IT solutions in global markets. What is R&D in business? In fact, innovation management ensures successful market penetration, lets businesses implement new technologies, and provides them with a successful IT future. Among the benefits of R&D is also the ability to keep up with the times, follow the trends, and make the product modern and innovative. Why is R&D Important?: Benefits of R&D for Business R&D is a valuable tool and a useful way to develop, grow, and improve the business. Companies with an R&D strategy are definitely more likely to succeed than companies without it. The concept of research and development leads to innovation, improved productivity, and increased business competitiveness. What are other advantages of R&D solutions? Let’s discover. Unique selling proposition and competitive advantages Research and development can help develop unique products and services without the need to be completely new. These solutions enable you to improve your existing offering and drive innovation as a part of your business strategy. This leads to differentiation among competitors and a completely new offer on the market. High quality and the right R&D strategy allow companies to gain a competitive advantage and take a top position in the niche. Reduced costs One of the ways a business can lower the cost of manufacturing its product is through R&D. These solutions can identify cost-effective production methods. New ways of manufacturing existing products can allow a company to continue to generate income related to the sale of products or services while reducing production costs. In addition, you can also claim R&D tax breaks to reduce your tax costs. According to the , the federal government provides R&D tax relief through an incremental R&D tax credit. research and development tax incentives provisions in the United States in 2020 Trend-matching The goal of research and development is to capture the emerging trends in the market and adapt the business to them. R&D solutions make the company active in any trends and, as a result, increase sales. When a business can catch up with trends, it is considered adaptable, flexible, and, most importantly, profitable. Strengthening the brand and reputation R&D helps to strengthen the brand and evaluate its reputation in the market. Awareness of customer behavior and how they relate to your brand allows you to rebrand to meet the needs of your consumers. Reputation management as a key element of the successful brand strategy is what makes the business prosperous and ensures the success of the end products and services. Funding from investors R&D activities also cover funding issues. A proactive approach to business can help attract investors and lenders who can provide you with the financing you need to meet your business goals. Potential investors are often interested in companies aspiring to become industry leaders, so R&D offers many opportunities to receive grants and credits for research and development or even global funding and innovation support. Increased sales The importance of R&D for business is also due to its effect on boosting sales. Identifying consumer trends and developing a business strategy in line with market needs will definitely help increase sales through new or expanded sources of income. Unique and sought-after products and services, which are the result of successful R&D projects, can bring financial benefits to the business. Entering new markets An innovation-driven R&D approach allows you to offer customers something they’ve never seen before. This makes it possible not only to attract new clients but also to enter completely new niches. The leaps in market participation allow expanding the business, winning the interest of consumers, and boosting the sales. Final Thoughts So, why is R&D important? Research and development strategy enables any business to stay competitive, enhance customer loyalty, and make a profit. The importance of R&D today cannot be overstated. Implementing this concept takes time, resources, and a willingness to take risks and experiment. However, the result is worth the effort. R&D helps improve business practices and brand strategy to become more efficient, innovative, and competitive. Without research and development, any business quickly becomes stagnant and unprofitable. While R&D can be expensive, by investing in it, the business is investing in its future. And to experience the full benefits of this solution, you must entrust it to professionals. We at Fayrix will help your business stay competitive and make the most of your research and development strategy. FAQ block What does R&D mean? Research and development (R&D) is an activity that aims to develop new products, processes, and services or improve existing ones. It is based on an innovative approach and risk, connected to marketing, cost management, and other parts of business strategy. What are the benefits of research and development for business? The key advantages of R&D are: increase in income and decrease in expenses, entering new niches and leaps in market participation, risk mitigation, competitive advantage and unique selling proposition, determining brand reputation and its enhancement, matching with tendencies, easy revealing of needs and opportunities, funding and financial opportunities, tax relief. What is an example of research and development in business? One of the notable examples is the case of Coca-Cola. In response to changing consumer preferences for “cleaner” and healthier foods, the company has resorted to finding sugar-free, low-calorie, and natural sweeteners for its products. R&D was an obvious decision. The implemented R&D solutions have contributed not only to the search for new product ideas and solutions, but also to rebranding, strengthening the reputation, and maintaining consumer confidence. Today, the global giant actively implements R&D solutions in the production of paper bottles to reduce carbon footprint and improve the environmental friendliness of the production; the company also expands into new niches and launching new products — revolutionary beverages in emerging categories — kombucha, cultured cider, keto-friendly smoothie, and iced coffee. What is the role of research and development in a business? Research and development projects are aimed at achieving business goals and needs. This could be the release of a new product or service, improving existing products and processes, the use of completely new technology, entering a new market, and so on. Whatever the goal and the methods of achieving it, the result is always building a culture of innovation. About the Author is the virtual development team & custom software development services for any business that seeks the best R&D solutions. The company provides outsourcing and staff augmentation services by gaining access to over 1500+ professional developers and advanced R&D services worldwide. Fayrix Fayrix is . Create a dedicated offshore development center with Fayrix and get a profitable and reliable way to realize your project. The Fayrix’s R&D center offers transparent pricing and full team involvement at every stage. Bringing innovation to your business will be faster and cheaper than you expect. your offshore R&D center vendor

What Does R&D Stand for in Business and Why is it Important?

Thanks to big data, today an organization can quickly obtain the necessary information from an unordered data set and deploy it effectively. The growing popularity of big data analytics has led to a significant increase in the number of companies providing big data solutions and related services. Today, there are in the global market, and this number may be very confusing. Big data skills, experience, and related technical expertise can significantly vary among vendors, which may puzzle anyone looking for a big data service provider. almost 1000 big data analytics companies How to identify the best big data consulting firms I set myself the goal to identify the most reliable big data consulting companies on today’s IT market. To do this, I investigated hundreds of data providers and studied their characteristics. Each company was analyzed according to the set of specifically designed criteria. Among the criteria are big data expertise, major clients, offering strategy, track record, and online reviews. Below you can see the results of the conducted market research. 1. Itransition Founded in 1998, Itransition is a custom software development company that provides big data consulting and platform engineering services. The company also offers business intelligence (BI) portals development and boosts them with machine learning (ML) and other technologies. The company offers data store design, data migration, performance optimization, and support services. The company’s client base includes IBM, Expedia, Toyota, eBay, Xerox, PayPal, and Adidas. With more than 150 completed projects and 810 clients worldwide, IAOP recognizes the company as one of The Global Outsourcing 100. Denver, CO Headquarters: Expedia, Xerox, Toyota, eBay, IBM, PayPal, Adidas Core clients: $25 — $49 Pay per hour: 1000–9999 Number of employees: Website: https://www.itransition.com/ 2. Saviant Consulting Saviant is a consulting company with more than 120 experts in its team and more than 100 clients in various countries, including UK, Canada, and the US. The company specifically focuses on Energy, Logistics, and Retail. Among the company’s big data services are big data analytics and management, full-cycle big data solution development, and more. Pune, India Headquarters: JJ Food Service, BuilderMT, Transparent Technologies, Inc Core clients: Not Revealed Pay per hour: 50–249 Number of employees: Website: https://www.saviantconsulting.com/ 3. Squadex Headquartered in California, USA, Squadex is a technology consulting and engineering company that provides big data services. It offers big data analytics, consulting, and big data platform engineering. Squadex is an AWS certified consulting partner that works with companies of different size, from small startups to large enterprises. Palo Alto, CA Headquarters: Model N, NinthDecimal, Nitrio Core clients: Not Revealed Pay per hour: 250–999 Number of employees: Website: https://squadex.com/ 4. CBIG Consulting Founded in 2002, CBIG Consulting is an American company offering business intelligence and big data analytics solutions. Besides analytics and consulting, the company provides big data solutions architecture. For this purpose, CBIG Consulting employs Hadoop distributions, Hive, Sqoop, etc. The company’s industrial focus is on Finance, Healthcare, and Retail. Chicago, IL Headquarters: Abbott, Astellas, Baxter, Cigna, DePaul University Core clients: $150 — $199 Pay per hour: 50–249 Number of employees: Website: https://www.cbigconsulting.com/ 5. Clavax Technologies Founded in 2011, Clavax is a software development company headquartered in San Jose, California. It delivers big data consulting and implementation. By employing big data technologies, the company provides services for data warehousing, data processing, and data integration. Clavax’ client list includes PWC, Football.com, Bookfari, and Honeywell. San Jose, CA Headquarters: PWC, Football.com, Bookfari, Honeywell, Jabil Core clients: $25 — $49 Pay per hour: 50–249 Number of employees: Website: https://www.clavax.com/ 6. ThirdEye Data ThirdEye Data is a big data services company that delivers big data consulting, analytics and engineering while using artificial intelligence, deep learning, and machine learning. ThirdEye Data has served such companies as Nokia, Ford, Amgen, GettyImages, Actian, and others. The company focuses on Finance, Government, IT, Retail, and Manufacturing. Santa Clara, CA Headquarters: Microsoft, Nokia, Ford, Amgen, GettyImages, Actian, Google Core clients: $50 — $99 Pay per hour: 50–249 Number of employees: Website: https://thirdeyedata.io/ 7. Signity Solutions Established in 2009, Signity Solutions is a company that delivers custom software development and big data solutions. The company helps with big data analysis and brings data solutions empowered by machine learning. Signity works for the Commerce, Education, Media, and other industries. Rajiv Gandhi IT Park, India Headquarters: Samsung, Grupio, The Project Factory Core clients: $25 — $49 Pay per hour: 50–249 Number of employees: Website: https://www.signitysolutions.com 8. Caserta Founded in 2001, Caserta is a NY-based IT company that delivers a wide range of data-related services. The company offers big data consulting and solution architecture/development. Caserta also provides data visualization, data warehousing services, and more. The company has worked with such clients as New York Times, Capital One, Equinox, and HBO. New York, NY Headquarters: New York Times, Capital One, Equinox, HBO Core clients: Not Revealed Pay per hour: 10–49 Number of employees: Website: https://caserta.com/ 9. RapidOps, Inc RapidOps is a custom software development company based in the USA. The company’s expertise includes big data analytics, consulting, and visualization. The company’s team of 60+ professional developers delivers its services to the Manufacturing, Retail, and IT industries. Charlotte, NC Headquarters: YoDish, Zurn Industries, DassaultSystemes Core clients: $25 — $49 Pay per hour: 50–249 Number of employees: Website: https://www.rapidops.com/ 10. Aegis Soft Tech Since 2003, Aegis Soft Tech has been providing software development to Healthcare, Finance, Retail, Manufacturing, and other industries. Aegis provides big data consultation, management, and analysis. Among that, Aegis helps with data migration processes. The company’s pool of developers expertizes in Hadoop, Cloudera, and Hortonworks platforms. Rajkot, India Headquarters: Sunzinet, Zydus, PointRF, Efacec Core clients: < $25 Pay per hour: 50–249 Number of employees: Website: https://www.aegissofttech.com/ 11. GetInData GetInData is a Poland-based company that unites more than 30 professionals. The company has carried out more than 30 projects. GetInData delivers the following big data services: big data infrastructure development, analytics, consulting, engineering, and maintenance. GetInData delivered its services to such companies as Spotify, Allegro, Agora, and Freshmail. Warsaw, Poland Headquarters: Spotify, Allegro, Agora, Freshmail, Truecaller, GoEuro Core clients: $50 — $99 Pay per hour: 10–49 Number of employees: Website: https://getindata.com/ 12. Kavi Global Established in 2008, Kavi Global is an analytical company that delivers a whole spectrum of big data services. They include consulting, big data solution architecture, and platform implementation. The company also offers data mining and data management services. Kavi Global’s industrial expertise includes Transportation, Manufacturing, Education, and Healthcare. Barrington, IL Headquarters: General Electric, TEAMHealth, Thomson Reuters, Ryder Core clients: $150 — $199 Pay per hour: 10–49 Number of employees: Website: https://www.kaviglobal.com/ 13. Indium Software Since 1999, Indium Software has been providing technological solutions for 19 various industries. The company has worked with 750 clients from all over the world. Employing such technologies as Hadoop, Spark, and Apache Kafka, Indium Software delivers big data architecture and consulting services. Princeton, NJ Headquarters: Not Revealed Core clients: < $25 Pay per hour: 250–999 Number of employees: Website: https://www.indiumsoftware.com/ 14. Fayrix Israel-based Fayrix is a custom software development company and big data services provider with 1530 IT experts on board. The company deals with various projects, from initial data analysis and consulting to big data infrastructure design, big data software development, and its implementation into a client’s existing technological landscape. Pitu’akh, Israel Headquarters: Biosence Webster, SCR, S7 Airlines Core clients: < $25 Pay per hour: 1000–9999 Number of employees: Website: https://fayrix.com/ 15. Denologix Established in 2002, Denologix is an analytics and information management company providing a wide range of big data services, including data analysis, consulting, and big data solution implementation and support. The company deploys a large number of technological tools for big data, including Hortonworks Data Platform, Cloudera СВР Hadoop Distribution, and more. Among the company’s clients are Adidas, Allstream, Aviva, Canada Post, and others. Toronto, Canada Headquarters: Adidas, Allstream, Aviva, Canada Post, Bell, Brookfield Core clients: $150 — $199 Pay per hour: 50–249 Number of employees: Website: http://www.denologix.com/ 16. Data Reply Established in 2015, Data Reply is a big data and analytics consultancy based in London, UK. Besides big data consulting and training, the company offers data engineering and data science services. The company focuses on such industries as Retail, Media, Telecommunications, and Commerce. London, United Kingdom Headquarters: Not revealed Core clients: $100 — $149 Pay per hour: 10–49 Number of employees: Website: https://www.datareply.co.uk/ 17. Dexlock Established in 2012, Dexlock is an Indian company that delivers big data services. Among them are large data store development and deep learning/machine learning implementation. The company’s technological expertise includes Hadoop, Apache Spark, Apache Kafka, and more. Dexlock works with the Healthcare, Retail, Insurance, Energy and other industries. Kochi, India Headquarters: FindCharisma, Splash of Colors, StatFuel, MyPeepz Core clients: < $25 Pay per hour: 50–249 Number of employees: Website: http://www.dexlock.com/ 18. 47Billion 47Billion is a bespoke software development company that provides mobile and web development and UI/UX design. Besides these services, the company delivers end-to-end big data analysis, consulting, and engineering. The company’s industrial focus includes IT, Gaming, and Consumer Services. 47Billion’s clients include Cisco, Nazara, and Apsalar. Bangalore, India Headquarters: Cisco, Nazara, Apsalar Core clients: : $25 — $49 Pay per hour 50–249 Number of employees: Website: https://47billion.com/ 19. 51zero 51zero is a UK-based company that specializes in big data services providing. The company delivers big data consulting and solutions development and focuses on the financial service domain. The company’s pool of technological experts deploys such big data technologies as Spark, Apache Kafka, Docker, and others. London, United Kingdom Headquarters: HSBC, The Royal Bank of Scotland, Barclays Core clients: $200 — $300 Pay per hour: 2–9 Number of employees: Website: https://www.51zero.com/ 20. SCI-BI SCI-BI is a company based in India. With more than seven years of experience, the company specializes in big data consulting and engineering. The company also helps with data integration strategy. SCI-BI’s big data technological expertise includes Cloudera and Hortonworks. The company focuses explicitly on Logistics and Retail. Chennai, India Headquarters: Executive Planning Services, USA SaasByDesign Inc, USA Caravel Logistics Core clients: < $25 Pay per hour: 10–49 Number of employees: Website: http://sci-bi.com/

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