National Pension System of India is going to hire consultants for performance review of pension funds and portfolio analysis of schemes under it. Pension Fund Regulatory and Development Authority (PFRDA) had established NPS to look after funds and assets of the subscribers under the schemes.
NPS Trust has issued a proposal for the public interest. According to the proposal, it requires business reviews consultant to review the existing format and performance review of the pensions funds (PFs), review the performance of the PFs at prescribed intervals and to undertake their portfolio analysis.
NPS trust said that the appointed business review consultant organization has to review the current formats of provident funds and scheme-wise evaluation of the NPS within the two months. The appointed consultant will check all schemes of NPS on a quarterly basis to submit a report to NPS trust. The report should contain all the critical portfolio risks. It should also highlight weak sectors and companies, analyzing the existing market conditions.
The last date of application submission under the proposal is 24 July 2019. Business review consultants can apply up to the given period to give their paid services to NPS trust. Selected business consultant organization will also be tasked to analyze the rating distribution of the securities under NPS schemes. The pension scheme came into effect on 1st January 2004 and that time covered central government services excluding armed forces. Currently, NPS is applicable to state government employees and central autonomous bodies too. Private companies are also allowed to enroll their employees under NPS schemes, either mandatory or volunteer basis.
Why use custom web development? Why is it better to use ready-made CMS
Custom web application development is not only good branding. It is also a great tool for communication between company and customer and much more enjoyable for both. Apps extend an expanse to portable and mobile gadgets’ ability to provide seamless expansion of the scope with which companies can serve to consumers online. Interface of the application should be attractive and comfortable in use. Moreover, it should have a unique identity, which reflects the company’s branding message and helps to establish emotional connection with customers. Custom-made design and development increase user engagement and distinguish a company from the competition.
But using off-the-shelf solutions might be the best choice for the companies, which are just starting their web journey due to its cost efficiency. In this article we will define pros and cons of custom web development compared to SaaS products.
Digital innovation is a critical component of modern business development. Business leaders usually face a choice between using off-the-shelf solutions (SaaS) and designing custom ones. The former offer a high degree of reliability at a lower price tag. However, SaaS products may lack critical features that are necessary for meeting the company’s requirements.
Custom web development company services VS SaaS CMS: pros and cons
It is common for small businesses to rely on SaaS as a lower-budget alternative. But as a business grows, so do its demands for software. For example, companies might need to manage more resources, and SaaS is unable to meet the increasing needs.
Custom development allows the implementation of solutions that match the very particular company’s needs. The decision to go with it can stem from the rising number of employees, new locations, or new markets. With SaaS, companies have to deal with the one-size-fits-all approach, facing limitations in different access levels, feature customization, etc.
When choosing custom web development services, it’s important to find the right provider who will understand the company’s structure and goals.
Pros and cons of SaaS products
The nature of SaaS reveals its strengths and weaknesses. A cheaper solution also means weaker control over it. Take a look at the table below to learn about the pros and cons of SaaS products:
- Cost efficiency.
- Reliability and maintenance.
- Automated updates.
- Data protection.
- Limited customization.
- Limited control.
- Limited scalability.
- Security concerns.
Pros and cons of custom web development services
Having a customized app addresses specific company needs. It allows businesses to create unique features based on their requirements and add all the integrations they need. Plus, such solutions can be more secure. For instance, a company may have an offline copy of data, protected from external attacks.
- Customization capabilities.
- High flexibility.
- High security level.
- Unique features as competitive advantages.
- Large investments.
- Not automated.
- Security risks.
Who needs custom development?
When a business has specific needs, it’s best to choose custom software app development. It also makes sense in the following cases:
- A company is planning to use this software for various projects and demands functionality variation from one project to another.
- A business is scaling.
- A company has its own development team with sufficient expertise to implement a required solution.
- A business has already used a SaaS product that doesn’t match the needs.
Being a custom web development firm, TRIARE builds scalable and secure apps for businesses of different industries, be it edtech, healthcare, or ecommerce. Our mobile app development team has created dozens of native and cross-platform solutions used all over the world. In services our company offers we take aim at custom-made approach. It enables a business to build a site focused on delivering real business results via an optimal structure and user experience.
Starting from planning, implementing, monitoring, communicating and finally delivering the completed project before the deadline, we ensure quality at each step. We take care of post-release maintenance and support, so you shouldn’t worry about security risks.
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