He also draws attention to the second major challenge troubling CIO’s—the rise of mobile work environments. Although organizations are seeing productivity gains with enterprise mobility, they are also witnessing the growth of security risks and data breaches. While hackers continue to illegally access business-critical information from different sources, IT security team is pressurized to efficiently identify and resolve the areas of high risk across enterprise domains. To deal with the rising mobility issues, Ravi Kiran explains, “CIOs must manage a flexible workspace by bringing all relevant data related to workplaces, departments, and people together in one central database. The CIOs should educate business owners and executives about the risks and keep a regular control over user behavior while creating a culture of security.”

He continues, “While making business executives aware of risks, it is also important to build an error-free structure.” It is highly unlikely for any enterprise to get an error-free structure without understanding the error, how and where it can occur. To achieve maximum manufacturing efficiency and minimum error, Payswiff implements Scrum methodology combined with in-depth research and planning between the cross-functional teams before the actual development of the product starts.

The Payswiff team also performs interim testing and final thorough testing of the products before it goes into production. Further to enhance agility, the company collates the wishlist from the stakeholders, prioritizes the features, and adds to the roadmap. Subsequently, they break down the features to small tasks and add these tasks to short sprints or short delivery cycles. This approach leads to the launch and roll-out of products quickly while achieving significant flexibility and speed.

In order to stay ahead of the competitors and provide a seamless payment transaction experience to customers, Payswiff is working toward automating customer support with AI to verify the backend information. The company also looks forward to leveraging AI in their fraud mitigation tool for faster real-time checks as well. Developers can also integrate the SDK, an integration methodology developed with a pre-built functionality packed along with Payswiff’s best practices and security into their app to have a faster go-to-market strategy.

Along the path of product expansion, Payswiff aims to be the one-stop-shop payment solution for all businesses. The company is also planning to customize the GST Suvidha Provider (GSP) platform for international markets. “We have further plans to bundle this to enterprise clients along with their payment solution as a one-stop solution to business needs,” affirms Ravi Kiran. In conclusion, he says, “Our forethoughts on other areas include working on QR based and contactless payments for domestic and international offerings.”