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WESM Mindanao

Are you prepared for WESM Mindanao’s commercial operation?

Are you prepared for WESM Mindanao’s commercial operation? 650 486 Exist Software Labs

The Independent Electricity Market Operator of the Philippines (IEMOP), operator of the Wholesale Electricity Spot Market (WESM), announced that it is preparing market participants for the official launch of the Mindanao WESM on January 26, 2023.

Energy Secretary Raphael Lotilla signed the Department of Energy Circular 2022-12-0039 in December 2022, requiring Mindanao electric power industry participants and entities to register as WESM members.

As part of the preparations for the commercial launch of WESM Mindanao, IEMOP hosted a Focus Group Discussion(FGD) in collaboration with various energy industry agencies. IEMOP discusses the provisions of DOE Circular 2022-12-0039 and the activities leading up to WESM’s commercial operations in the region.

The commercial operation of WESM Mindanao and the MVIP [Mindanao Visayas Interconnection Project] is expected to improve the reliability of electric power supply not only in the Mindanao grid but also in the Luzon and Visayas grids,” according to the circular. It also stated that the commercial operation of the MVIP would require the commercial operations of WESM Mindanao to allow for the efficient transfer of electricity exchanges.

The circular also requires the market operator to facilitate WESM registration and authorize the disconnection of WESM participants and entities that are required to register but are unable to do so.

The critical roles of different agencies such as IEMOP, National Electrification Administration (NEA), Power Sector Assets and Liabilities Management Corp. (PSALM), Philippine Electricity Market Corp. (PEMC), and National Grid Corp. of the Philippines (NGCP) were also discussed in the circular.

Need help with WESM Mindanao commercial operations? Schedule a free consultation today!

Among the roles played by various agencies were:

The IEMOP should also ensure that WESM Mindanao participants comply with the registration requirements and take appropriate action to address noncompliance. They should also ensure that the WESM Mindanao transitions and operates smoothly.

The PEMC will monitor and evaluate the WESM Mindanao implementation and make recommendations to address any policy issues that may arise. It will also impose sanctions and penalties following the circular’s provisions.

The NEA will assist electric cooperatives (ECs) in completing their WESM registration and coordinate with relevant agencies to ensure that the ECs meet the financial and technical requirements for WESM registration.


So the real question is, Are you ready to transition with the WESM Mindanao commercial operations?

We understand that you are committed to ensuring that your company remains compliant with the WESM rules and market manuals, but we also know that it can be difficult to keep track of all of your obligations.

That’s why we at Exist Software Labs Inc. provide Energy System Solutions, a solution that helps you:

Automate the collection of 5-minute WESM data,
– Comply with the NEW BIR Ruling,
– Streamline submission to CRSS and NMMS,
– Seamless monitoring of MMS data such as RTD, HAP, DAP, LMP, and others,
Generation of BCQ for CRSs upload,
– Smooth processing of CRSS Metering and Settlement data, and more! 

We will help you avoid sanctions and penalties by assisting you to ensure full compliance with all of your obligations under WESM Rules and Market Manuals.

Check out these links to help you get prepared for WESM Mindanao commercial operation

WESM Mindanao
WESM Operations
– WESM-Mindanao-FGD-Grid-Scheduled-Gens_QA-_clean.pdf (iemop.ph)

Avoid WESM Penalties and Sanctions Today!

Automate your processes and create a more competitive, transparent, and efficient system with our Energy Systems Solutions!

Digital Banking Technologies that will arise in 2023

Digital Banking in 2023 – What to Expect

Digital Banking in 2023 – What to Expect 650 486 Exist Software Labs

Technology became unwavering as it conquered many battles in the last two years when the pandemic became a primary problem in different business sectors across the whole world. While sudden changes broke their business plans, this too established adapting technology, especially in the banking and financial services industry.

We all know that 2022 was an exciting year for the banking industry since it opened a lot of opportunities for businesses. But this 2023, banks and financial institutions will continue to evolve with the new market trends that would create next-generation digital banking solutions and meet their customer needs when it comes to seamless operations, online transactions, and 24/7 banking. 

Here are the technologies we need to look at when it comes to Digital Banking this 2023:

1. Cloud-Based Banking

Cloud is one of the biggest trends in the post-pandemic era because of the advantages when it comes to security and online access to data. At first, chief officers and executives were skeptical about having a cloud-based banking platform, particularly on security and information sensitivity but realizing that cloud has a secure framework and could give financial firms endless scalability and access to the internet, this technology would get to expand.

As end-users embrace digitalization, banks must stay relevant and innovate services that give convenience and personalization to their customers. Cloud-based banking is a powerful technology that will truly empower banks and financial institutions this 2023 and beyond.

2. Identity Verification & Fraud Prevention

According to the BSP’s Inclusive Finance article, it is a state wherein there is effective access to a wide range of financial services for all, especially the vulnerable sectors. In line with this, digital customer onboarding should be a primary feature in the Banking applications to enroll their users online easily. However, banks are prone to identity theft and fraudsters that’s why they need to have a reliable eKYC solution and identity proofing.

Jumio is an end-to-end eKYC Platform that helps banks to have automated identity proofing, eKYC, and Transaction Monitoring. From onboarding to monitoring, they build trust based on your terms.

  • Jumio is one of the technology partners of Exist Software Labs, Inc. (Learn More)

3. Always-On Financial Observability & Monitoring

While our human bodies cannot be awake 24/7 and need to take rest, banks’ operational systems, data warehouses, third-party applications, etc., should be observed in real-time without a blink of an eye. Banks are handling tons of data per minute like transactions, financial records, analytics, and reporting tools. Good thing, Real-Time Observability Technology’s primary duty in a bank’s system is to identify critical issues, diagnose and resolve them to prevent outage & fix infrastructure before it creates an impact on the business.

4. Open Banking APIs

The Banking and Financial Services landscape continues to evolve as they work with other companies in creating a convenient and innovative financial ecosystem and part of it is acquiring an Open Banking API (Application Programming Interface) Integration. While some of the banks don’t want this kind of development because of information sharing, this technology benefited the end-users to access new helpful applications to make it an omnichannel digital banking platform inside their mobile apps like investments, cryptocurrency, savings plans, & insurance.

5. Embedded Finance (BNPL)

Banks & Financial Services are more rapid than ever since companies considered cashless and online transactions. Embedded Finance is an integration of different financial services to businesses in one application without the need to transfer them to other branches or other landing pages (when online). To encapsulate this, you can see payments, investments, lending & insurance to a real estate application or to a health care provider’s application. (See the infographic below)

Embedded Finance Illustration

According to Mckinsey’s Global Payment Reports, Embedded Finance reached $20 Million in revenue in the US alone. Could you imagine how impactful it was in the world? That’s why most companies in APAC are now getting this technology to really help them to grow their revenue.

6. Blockchain

Blockchain technology is slowly but surely making its impact on banks and financial services by proving that it is the most prominent technology this decade. Most of us heard this word but we are not yet seemingly seeing its effect. Blockchain is expected to revolutionize the banking industry and other businesses like retail, healthcare, and more. 

Blockchain will be expected to accelerate international transfers and monetary transactions faster, more cost-effective, and more secure. Right now, when we are doing fund transfer from one country to another, our transactions can take multiple hours with a processing fee before it gets to the recipient. Blockchain, on the other hand, can empower these parts to make it faster and simpler for more efficient transactions. Some fintech in the PH is using their digital wallet to cash in, save, and invest in a crypto wallet.

There are a lot of features and advantages we can look forward to with blockchain technology like reducing the cost of the BFS industry, reducing human errors by automating record transactions, more efficient banking, and more!

Conclusion:

As we can see, there are so many technological innovations that can be customized based on the bank’s and financial institutions’ offerings. They can utilize it to provide seamless, omnichannel, and powerful banking. However, this can only be possible by tapping into an IT solutions provider or Software developer that can truly help you in your digital transformation this 2023. Exist Software Labs, Inc. is one of the technology innovators in the Philippines with over 2 decades of experience in bringing the value of technology to humans.

Big Data, Data Solutions, Healthcare, Retail

Trends and Industries: How Data Solutions upend existing sectors to new heights in 2023?

Trends and Industries: How Data Solutions upend existing sectors to new heights in 2023? 650 486 Exist Software Labs

The defining era of data is currently upon us. Business model threats and economic shocks are common. Power is changing wherever you look, including in the market, our technological infrastructure, and the interactions between companies and customers. Change and disruption have become the norm. Data Solutions have been useful in innovating the industry.

Data-savvy businesses are well-positioned to triumph in a winner-take-all market. In the past two years, the distance between analytics leaders and laggards has increased. Higher revenues and profitability can be found in companies that have undergone digital transformation, embraced innovation and agility, and developed a data-fluent culture. Those who were late to the game and who still adhere to antiquated tech stacks are struggling, if they are even still in operation.

So, when you create your data and analytics goals for 2023, these are the key trends to help you stay one step ahead of your competitors.

Healthcare

Data Analytics and Data Solutions can be used to improve patient outcomes, streamline clinical trial processes, and reduce healthcare costs. 

Some specific examples of how Analytics is being used in healthcare include:

  1. Improving patient outcomes: Analytics can be used to identify patterns and trends in patient data that can help healthcare providers make more informed decisions about treatment plans. For example, data from electronic health records (EHRs) can be analyzed to identify risk factors for certain conditions, such as heart disease or diabetes, and to determine the most effective treatments for those conditions.
  2. Streamlining clinical trial processes: Data Analytics can be used to improve the efficiency of clinical trials by allowing researchers to identify suitable candidates more quickly and by helping them to track the progress of trials more closely.
  3. Reducing healthcare costs: Analytics can be used to identify inefficiencies in healthcare systems and to help providers implement cost-saving measures. For example, data analysis can be used to identify patterns of overutilization or unnecessary testing, and to develop strategies for reducing these costs.

Financial services

Data Analytics can be used to detect fraud, assess risk, and personalized financial products and services. 

Some specific examples of how Data Analytics is being used in the financial industry include:

  1. Fraud Detection: Data Analytics can be used to identify patterns and anomalies in financial transactions that may indicate fraudulent activity. This can help financial institutions to prevent losses due to fraud and to protect their customers.
  2. Risk Assessment: Analytics can be used to assess the risk associated with various financial products and services. For example, data analysis can be used to assess the creditworthiness of borrowers or to identify potential risks in investment portfolios.
  3. Personalizing financial products and services: Analytics can be used to gain a deeper understanding of individual customers and to personalize financial products and services accordingly. For example, data analysis can be used to identify the financial needs and preferences of individual customers, and to offer customized financial products and services that are tailored to those needs.

Retail

Retail companies can use Data Analytics to optimize pricing, understand customer behavior, and personalize marketing efforts. 

Some specific examples of how Data Analytics is being used in the retail industry include:

  1. Prizing Optimization: Retail companies can use Data Analytics to identify patterns in customer behavior and to optimize their pricing strategies accordingly. For example, data analysis can determine the most effective price points for different products and identify opportunities for dynamic pricing (i.e., adjusting prices in real time based on demand).
  2. Understanding customer behavior: Analytics can be used to gain a deeper understanding of customer behavior and preferences. This can help retailers to make more informed decisions about the products and services they offer, and to identify opportunities for cross-selling and upselling.
  3. Personalizing marketing efforts: Analytics can be used to deliver more personalized and targeted marketing efforts to customers. For example, data analysis can be used to identify customer segments with similar characteristics and to develop customized marketing campaigns for each segment.
  4. Cost Reduction: Being able to have a JIT (Just in Time) procurement and storage of items which in turn increases/optimizes warehouse capacity and reduces spoilage, and improves logistics.

Manufacturing

Data Analytics can be used to optimize supply chain management, improve production efficiency, and reduce costs. 

Some specific examples of how Data Analytics is being used in the manufacturing industry include:

  1. Optimizing supply chain management: Analytics can be used to improve the efficiency of the supply chain by identifying bottlenecks and inefficiencies, and by developing strategies to address these issues.
  2. Reducing fuel consumption: Analytics can be used to identify patterns in fuel consumption and to identify opportunities for fuel savings. For example, data analysis can be used to identify the most fuel-efficient routes or to identify vehicles that are consuming more fuel than expected.
  3. Improving fleet management: Analytics can be used to improve the efficiency of fleet management by identifying patterns in vehicle maintenance and repair data, and by helping fleet managers to develop strategies to optimize vehicle utilization and reduce downtime.
  4. Forecast roadworthiness of vehicles: This can help set trends on when a vehicle would break down or need repairs based on utilization, road conditions, climate, and driving patterns.

Energy

Data Analytics can be used to optimize the production and distribution of energy, as well as to improve the efficiency of energy-consuming devices.

Some specific examples of how Analytics is being used in the energy industry include:

  1. Optimizing the production and distribution of energy: Analytics can be used to optimize the production and distribution of energy by identifying patterns in energy demand and by developing strategies to match supply with demand. For example, data analysis can be used to predict when energy demand is likely to be highest and to adjust energy production accordingly.
  2. Improving the efficiency of energy-consuming devices: Analytics can be used to identify patterns in energy consumption and to identify opportunities for energy savings. For example, data analysis can be used to identify devices that are consuming more energy than expected and to develop strategies to optimize their energy use.
  3. Monitoring and optimizing energy systems: Analytics can be used to monitor and optimize the performance of energy systems, such as power plants and transmission grids. Data analysis can be used to identify potential problems or inefficiencies and to develop strategies to address them.

Agriculture

Analytics can be used to optimize crop yields, improve the efficiency of agricultural processes, and reduce waste.

Some specific examples of how Data Analytics is being used in agriculture include:

  1. Optimizing crop yields: Analytics can be used to identify patterns in crop growth and to develop strategies to optimize crop yields. For example, data analysis can be used to identify the most suitable locations for growing different crops and to develop customized fertilization and irrigation plans.
  2. Improving the efficiency of agricultural processes: Data Analytics can be used to identify patterns in agricultural data and to develop strategies to optimize processes such as planting, fertilizing, and harvesting.
  3. Waste Reduction: Analytics can be used to identify patterns in food waste and to develop strategies to reduce waste. For example, data analysis can be used to identify the most common causes of food waste on farms and to develop strategies to address those issues.

These are just a few examples of the many industries that are likely to adopt Data Analytics technologies as part of their digital transformation efforts in the coming years. 

Other industries that are also likely to adopt Analytics Technologies include Government, Education, and Media, among others. In general, Data Analytics Technologies are being adopted across a wide range of industries because they can help organizations to gain insights from their data, make more informed decisions, and improve their operations. 

As more and more organizations recognize the value of Analytics, it’s likely that we’ll see even greater adoption of these technologies in the coming years.

To learn more about our Data Solutions Services, click here.

Data Science, Science and Technology

Data Science 101: The concepts you need to know before entering the Data Science world.

Data Science 101: The concepts you need to know before entering the Data Science world. 650 486 Exist Software Labs

I was playing around with data and then I found the Science — Yes, my introduction to the world of Data Science has been a part of my research work.

If you’re like me, starting out with Data Science looking for resources that can give you a jump start or at least a better understanding of it or you have just heard/read the term being coined and want to know what it is, of course, you can find a gazillion materials about it, this is, however, how I started and got familiar with the basic concepts.

What is ‘Data Science’?

Data Science provides meaningful information based on larger amounts of complex data or big data. Data Science, or if you would like to say Data Driven Science, combines different fields of work in statistics and computation to interpret data for decision-making purposes.

Understanding Data Science

How do we collect data? — Data is drawn from different sectors, channels, and various platforms including cell phones, social media, e-commerce sites, various healthcare surveys, internet searches, and many more. The surge in the amount of data available and collected over a period of time has opened the doors to a new field of study based on big data — the huge and massive data sets that contribute towards the creation of better operational tools in all sectors.

The continuous and never-ending access to data has been made possible due to advancements in technology and various collection techniques. Numerous data patterns and behavior can be monitored and it can make predictions based on the information gathered.

In technical terms, the above-stated process is defined as Machine Learning; in layman’s terms, it may be termed Data Astrology — predictions based on data.

Nevertheless, the ever-increasing data is unstructured in nature and is in constant need of parsing in order to make effective decisions. This process is really complex and very time-consuming for organizations — and hence, the emergence of Data Science.

A Brief History / Background of Data Science

The term ‘Data Science’ has been in existence for about three decades now and was originally used as a substitute for ‘Computer Science’ in the 1960s. Approximately 15–20 years later, the term was used to define the survey of data processing methods used in different applications. 2001 was the year when Data Science was introduced to the world as an independent discipline.

Disciplinary Areas of Data Science

Data Science incorporates tools from multiple disciplines in order to gather a data set, process and derive insights from the data set and interpret it appropriately for decision-making purposes. Some of the disciplinary or noteworthy areas that make up the Data Science field include Data Mining, Statistics, Machine Learning, Analytics Programming, and the list goes on. But, we would be doing a brief discussion mainly on the aforesaid topics as the concept of Data Science mainly revolves around these basic concepts, just to keep it simple.

Data Mining applies algorithms to the complex data-sets to reveal patterns that are then used to extract useful and relevant data from the set.

Statistics or Predictive Analysis use this extracted data to gauge events that are likely to happen in future based on what the data shows happened in the past.

Machine Learning can be best described as an Artificial Intelligence tool that processes massive quantities of data that a human is incapable of doing in a lifetime — it perfects the decision model presented under predictive analytics by matching the likelihood of an event happening to what actually happened at a predicted time in the past.

The process of Analytics involves the collection and processing of structured data from the Machine Learning stage using various algorithms. The data analyst interprets, converts, and summarizes the data into a cohesive language that the decision-making team can understand.

Data Scientist

Literally speaking, the job of a Data Scientist is multi-tasking: We collect, analyze and interpret massive amounts of structured and unstructured data, and in a maximum number of cases, to improve an organization’s operations. Data Science professionals develop statistical models that analyze data and detect patterns, trends, and various relationships in data sets.

This vital information can be used to predict consumer behavior or to identify business and operational risks. Hence, the job of a Data Scientist can be described as a story-teller that uses data insights in telling a story to the decision-makers in a way that is understandable. The role of a Data Scientist is becoming increasingly important as businesses rely more heavily on data analytics to drive decision-making and lean on automation and machine learning as core components of their IT strategies.

Present & Future of Data Science

Data Science has become the real thing now and there are potentially hundreds and thousands of people running around with that job title. And, we too have started seeing these Data Scientists making large contributions to their organizations. There are certainly challenges to overcome, but the value of data science from a business point of view is pretty clear at this point.

Now, thinking about the future, certain questions definitely arise — “How will the practice of data science be changing over the next five years? What will be the new research areas of data science?”

“Will the fundamental skills remain the same?”

These are certainly debatable questions, but one thing is for sure — inventions have happened and will continue to happen when there arises any demand for the betterment of the future. And, the world would keep benefiting from data science through its upcoming innovations.

The possibilities of how to utilize Data Science in real-world scenarios are endless! Our Data Solutions team would be happy to help you capitalize on this technology for your enterprise.

Feel free to contact us through this link: https://exist.com/data-solutions/

Microservices

Microservices in Digital Banking – What are the Impacts?

Microservices in Digital Banking – What are the Impacts? 650 486 Exist Software Labs

Technology innovations shaped the world that we live in. It is now a necessity. This is also applicable in the Banking and Financial industry. With the new game-changers in this vertical, the competition became stiffer. Now that the competition rises, dynamic innovations and adapting digitization are now becoming the standard in the banking and financial industry.

Time to Market is very crucial as well as ensuring the stability and security of the application. To keep up with the demands of the market at the same time balancing the importance of these three factors, applications should now be built using Microservices.


MICROSERVICES

Microservices 01

Microservices are a modern approach to software whereby application code is delivered in small, manageable pieces, independent of others (Spring). Having said that, using microservices architecture, could help developers implement each component individually. They can execute innovations into one certain application without the involvement of other applications. It is not a large-based code that when something wrong happens, will affect the whole project.


WHY
MICROSERVICES?

WHY MICROSERVICES?

Since Microservices operate as a variety of applications that have a specific functionality under one system, microservices are easier to maintain, scale, a faster turnaround time in deployment and have a better resilience to technical faults.

WHAT ARE THE IMPACTS OF MICROSERVICES?

  • SCALABILITY 

Microservices Architecture develops single software systems which are running independently enabling the banking businesses to evolve as they scale without difficulty. When there are new offerings and features in their mobile banking application, they can still operate even if some parts are under development. By doing so, users can still use the mobile app and do other transactions.

  • AGILE SOFTWARE DEVELOPMENT

Projects are developed incrementally. New features can be broken down as small projects which can be done in parallel by different teams. Using DevOps, microservices are being optimized and can be deployed smoothly. This approach allows banks to introduce new innovations to the public faster. Moreover, banks can now update their mobile banking applications while operating transactions simultaneously. 

  • FLEXIBILITY OF USING DIFFERENT TECHNOLOGY STACKS

When it comes to integrating different technologies to use for multiple features in a digital bank, software developers can easily push frameworks, databases & etc,. In addition, new technologies can be employed in the application when there are major changes. Banks with specific requirements can be tailor-fit based on their needs.

At Exist, we want you to go where the possibilities are boundless. Since being superior in digital experiences are essential in staying relevant, we are empowering banks and financial institutions in digitalization to rapidly grow and make their business future-ready.

Exist Software Labs, Inc. is committed to extending our assistance to several banks with their Digital Onboarding requirements. We have been in the business for 20 years, and the mission is to enable corporations to go on digital and have a competitive advantage in this fast-changing world.

Be where your customers are!

Transform your bank into an omni-channel platform.

Medcurial Package Management System Image

Medcurial Package Management

Medcurial Package Management 800 507 Exist Software Labs

Medcurial’s Clinic Management system lets you easily create and manage packages with its built-in Package Management module

Easily combine offers and streamline ordering to billing process with support for creating item and service packages for your clinic! Create promos by setting combo offers to include medicines, procedures, treatments, and other services into a single package in just a matter of minutes.

Use this ability to configure your clinic promos and service packages and simplify ordering instead of manually adding procedures, treatments, and drugs one at a time!

Watch the video below and see for yourself how easy making a package is with Medcurial.

Manage your clinic better now and drive more efficiency to your clinic. For more information, kindly fill out the demo form so we can schedule a meeting with you. You may also visit Medcurial and get yourself a 30-day free trial so you can see it in action.

    Schedule a Demo

    Check Out Our Insights on Digital Healthcare

    Click the button to learn more.

    New BIR Ruling

    The New BIR Ruling; What’s in it for WESM participants?

    The New BIR Ruling; What’s in it for WESM participants? 800 507 Exist Software Labs

    Wholesale Electricity Spot Market(WESM), managed and governed by Independent Market Operator (IEMOP) is an electricity market established by the Department of Energy (DOE) under the Republic Act (RA) No. 9136, otherwise known as the “Electric Power Industry Reform Act of 2001”, or EPIRA Law.

    WESM aims to create a competitive, efficient, transparent, and dependable electricity market, which is a place where offers, demand, price bids, quantities, and other energy transactions take place.

    According to the EPIRA Law, The cost of administering and operating the wholesale spot market shall be recovered by the market operator through a charge imposed to all market members: Provided, that such charge shall be filed with and approved by the ERC.”

    The law requires the Market Operator (MO), in this case, IEMOP, to recoup its costs for administering and managing the market, based on the fact that the MO has no other source of funding to function other than the charges imposed on its members. In accordance with EPIRA Law and WESM Rules, the EIMOP, as the MO, may charge its members market costs such as Registration Fees, Metering Fees, Billing and Settlement Fees, Administration Fees, Costs reasonably incurred by the Board and Committees, and other working groups, and Other Service Fees.

    Upgrade your system in accordance with the NEW BIR RULING Today!

    According to BIR RULING OT-323-2021, Page 11 No.5, “The Customer/Buyer shall be the withholding tax agent for energy sold and paid through the WESM, while both the Customer/Buyer and Generator/Seller Shall be the withholding tax agents for the Market Fees collected by IEMOP.” 

    With that said, all the WESM participants – Generation companies, Distributors, Renewable Energy (RE) Developers, customers, system operators, network service providers, ancillary services providers, and metering services are now subject to BIR tax withheld from any transactions made within the WESM.

    So, why shouldn’t you worry about the new BIR Ruling?

    It’s the power of technology! These processes can all be automated. Knowing its importance to your day-to-day activities, let us worry about how we can support you.  

    We will assist you in upgrading your system to comply with the New BIR ruling. Adjust your system and automate complex computations and other procedures needed in compliance with the regulation!

    Exist Software Labs has extensive experience as an IEMOP and PEMC technology partner for 3 years, and we guarantee we have your back in revolutionizing your system with our Power System Solutions!

    Empower your system today!

    Learn how to fully automate your processes to create a more competitive, transparent, and efficient system with our Power System Solutions!
    Take your power system to the next level!

    5 Reasons Why You Need UpToDate - Blog Image

    5 Reasons Why You Need UpToDate

    5 Reasons Why You Need UpToDate 650 486 Exist Software Labs

    UpToDate is a clinical resource tool that provides clinicians support in making evidence-based decisions. Using UpToDate enables clinicians to have more confidence in making even the most complex decisions in the most complex situations. With an average session duration of just over a minute for both mobile and web users, clinicians can get the information they need to be able to make a more informed decision.

    Not convinced yet? Here are 5 more reasons why you need UpToDate!

    Remove Unwanted Variability

    By using an advanced software that allows clinicians across multiple departments to make an evidence-based decision, unwanted variability in care can be reduced. Clinicians will find it easier to choose the best care treatment instead of having to test several procedures only to find out that it’s not the best solution.

    This process aligns care teams by providing them with information on several treatments backed with evidence allowing them to provide the best care possible for their patients.

    Author & Content Quality

    “More than a summary of the evidence, our comprehensive content is designed to be accessible and actionable to help you answer common or complex and challenging clinical questions.

    UpToDate’s unique differentiator from its competitors is its rigorous editorial process. Currently, there are over 7,400 authors and editors composed mainly of physicians, clinicians, and peer reviewers who continuously collaborate to provide useful information at the point of care. 

    With each topic having assigned an expert physician author and at least two specialty-specific physician reviewers, a thorough evaluation of the literature is done. This committee then agrees on clear treatments and screening recommendations in order to assist physicians and clinicians in making the best feasible care decisions.

    Thousands of Topics

    UpToDate currently has more than 12,000 topics that are spread across 25 different specialties, provided with over 514,000 references. Note that for each topic, there’s an individual committee that strives to make sure that evidence and recommendations are present. 

    In addition to this wide range of topics, UpToDate has more than 6,900 unique drug entries, along with information on drug interactions. There are also over 36,000 graphics that consists of tables, images, and figures that clinicians can use.

    Graded Recommendations

    “When you’re treating a patient, you want to make decisions based on the best available evidence and expertise. But even the most experienced clinicians need support in keeping up with new research and advances in care.”

    While it’s great to have an advanced system that lets clinicians do their research, UpToDate takes it a step further.

    Dr. Gordon Guyatt, along with the GRADE Working Group, has been working with UpToDate since 2001 to incorporate the GRADE system into UpToDate topics. 

    Dr. Guyatt coined the term “evidence-based medicine” back in 1992. He is recognized as a world leader in this area and is the co-founder of the GRADE System. He provides regular training to UpToDate’s physician editors about evidence-based medicine and grading.

    Gordon Guyatt - Why You Need UpToDate
    Dr. Gordon Guyatt | Program Director of Internal Medicine at McMaster University from 1990 to 1997

    The GRADE System is a set of recommendations based on a synthesis of evidence, including those that are obtained from clinical trials and experience.

    Great User Feedback

    In October 2020, a survey was conducted amongst 14,137 UpToDate users to test how they feel about UpToDate. Here are some notable results. 

    98% or 13,854 of the respondents said that they trust UpToDate as a point-of-care clinical information resource.

    96% or 13,571 of the respondents said that UpToDate improves the quality of care they can provide.

    90% or 12,723 of the respondents said that UpToDate saves them time.

    88% or 12,441 of the respondents said that using UpToDate had an effect on their patient management approach.

    86% or 12,158 of the respondents revealed that using UpToDate led to more appropriate diagnostic testing.

    These results only show that UpToDate, in fact, has a positive effect on its users and ultimately, the care they can provide. UpToDate currently has over 2 million users in more than 38,800 institutional sites across 191 countries – all of which add up to more than 617 million topic views per year.

    If you’re interested in getting UpToDate for your hospital, kindly leave your information on the form below and we’ll reach out to you right away and discuss more on why you need UpToDate for your hospital! Get better care for your patients now, and make every decision matter with UpToDate. 

    Next: We’ll follow this up with an article about how UTD and Lexicomp are “free from bias”

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      Internet of Things

      How the Internet of Things is Reinventing the Energy Industry

      How the Internet of Things is Reinventing the Energy Industry 650 486 Exist Software Labs

      Internet of Things (IoT) has given so much convenience to human activities and transactions over the years that it has become one of the most important technologies on a global scale. It helped not just individuals on its day-to-day activities; but also various business verticals on its company-wide operations.

      The energy industry in the Philippines is no exception. The Internet of Things (IoT) provides a wide range of applications that can be utilized in the energy sector; this includes energy production, transmission, distribution, consumption, and many more.

      See figure 1.1 (This is the evolution of the Internet of Things (IoT) over the years.)Power System Solutions

      In previous years, most of us, consumers, never really considered mother earth when consuming energy; This is one of the improvements that IoT may bring forth! Organizations can drastically cut waste thanks to increased control over energy consumption. It brings significant cost savings and allows for a reduction in CO2 emissions, which benefits the environment.

      Another challenge that the Energy Sector has is the lack of integrated energy planning and demand forecasting. This significantly widens the gap between energy supply and demand; However, with the help of IoT’s advanced analytical systems, organizations can now develop precise and real-time forecasts. Here are some Internet of Things (IoT) capabilities that will reinvent the Philippine energy industry.

      See figure 1.2 (Here is the entire IoT ecosystem of the Energy Sector. From generators, transmission, distributors to the consumers.)

      Power System Solutions1. Intelligent Grid

      IoT enables grid systems to gain control over power flow or significantly curb energy use and helps in tracking real-time energy consumption that gives users almost complete control over their energy consumption. Its automated approach also helps consumers become more cost-efficient while decreasing energy waste.

      While Energy companies, on the other hand, may achieve real-time monitoring, rapid data restoration, and highly accurate usage forecasts, making energy system management and maintenance much easier.

      Empower your system with IoT today!

      2. Monitoring of Processes and Resource Optimization

      Automation is one of the benefits that IoT can provide; having an IoT system means less human intervention, and less human intervention means fewer errors. The use of sensor devices in a power plant allows for the automated execution of processes and the delivery of better, error-free production. The availability of data on all areas of the supply chain enables the operating system to make accurate judgments on a wide range of factors.

      IoT solutions generate real-time data, allowing management to act quickly and take appropriate action if there are errors or inconsistencies, allowing businesses to produce higher-quality services.

      3. Analytical Advances

      With increased energy consumption demand, energy businesses must rely on advanced analytics more than ever to meet customers’ expectations for more options, better transparency, and lower energy prices and waste. In order to compete, utilities and power generators must utilize the same analytics to precisely anticipate future power usage.
      The sensor-enabled technology assists the Philippines’ energy sector in gathering more precise data that can be used in proper forecasting of energy supply and demand. As a way, it lowers unnecessary energy usage.

      4. Reduction of maintenance and operating costs

      Predictive maintenance is another significant advantage of IoT data. Proactive testing and repair significantly reduce the amount of time the machines are inactive, hence minimizing catastrophic equipment failures and lowering maintenance expenses. It enables managers to take complete control of energy data from the beginning and considerably optimize the operation. The use of an IoT-powered solution in the energy sector employs sensor-based approaches to automate the industry’s operation.

      Intelligent sensors and devices, for example, can communicate information from distant equipment to detect an impending fault, minimizing damages and stoppages and giving the system much more flexibility.

      5. Increase the Production of Renewable Energy

      A smart, dependable, and efficient power supply contributes to the smooth operation of smart cities. The application of IoT in renewable energy generation will assist them in producing enough energy to meet their needs.

      Sensors attached to generation, transmission, and distribution equipment are used in IoT applications in renewable energy production. These technologies let businesses remotely monitor and control the operation of their equipment in real-time; This reduces operational expenses and energy waste, but more importantly, it helps us minimize our reliance on fossil fuels.

      Exist Software Labs will continue to assist businesses in the energy sector

      You may now achieve the above-mentioned processes and technologies with Exist Software labs! For over 20 years, we helped several energy enterprises by implementing multiple Energy Automation solutions.

      Achieve advanced analytics without breaking the bank, optimize your operations, and achieve advanced management systems by utilizing various enterprise-grade technologies designed exclusively for the energy industry.

      Empower your system today!

      Learn how to fully automate your processes to create a more competitive, transparent, and efficient system with our Power System Solutions.
      Take your power system to the next level!

      YugabyteDB

      YugabyteDB, What Is It Good For?

      YugabyteDB, What Is It Good For? 800 507 Exist Software Labs

      The database evolved from the network & hierarchical model of the 60s to what eventually became the dominant force in databases in the 70s up to the present time—the relational model. From this model arose the big names in Relational Database Management Systems like DB2, Oracle, and Sybase. In the 80s, a player emerged that would forever change the RDBMS landscape: Postgres.

      Postgres is the only RDBMS to have won DB of the year 3 times: 2017, 2018, & 2020. This speaks of the universal trust that developers have placed on the system and this has only increased with the rise of open-source software and cloud-native computing.

      Which begs the question: What is cloud-native computing? To put it simply, the rise in the services-based model championed by the major cloud providers like AWS, GCP, & Azure has given way to a new way of developing applications, with key emphases on scalability, resilience, high-availability, and agile deployments.

      Combining the relational supremacy of Postgres and cloud-native computing, we are then faced with the next step in the evolution of the RDBMS—Distributed SQL— and YugabyteDB is the No. 1 Distributed SQL platform today.

      Use Cases

      What is YugabyteDB good for? I will mention 4: cloud-native applications, applications requiring massive scale, geo-distributed workloads, and traditional RDBMS modernization.

      1. Cloud-native applications – Build stateful microservices by leveraging modern cloud-native frameworks such as GraphQL, or in any language of your choice like Django, Spring, Go, etc.

      2. Massive-scale applications – Seamlessly deploy IoT and streaming services that demand high throughput, support for large data sets, and/or many concurrent connections.

      3. Geo-distribution – Move data closer to users for resilience, performance, and compliance with the industry’s largest choice of deployment and replication models.

      4. RDBMS modernization – Evolve Oracle, SQL Server, and DB2 workloads to a modern distributed SQL database with minimal disruption. If you can migrate to PostgreSQL, you can migrate to YugabyteDB.


      Real-World Projects

      We have deployed YugabyteDB in several government and educational institutions that employed cloud-native applications development—requiring user connectivity from various geo-locations—along with the migration of MySQL databases.

      YugabyteDB has delivered in all of these projects, requiring very minimal tweaking in existing SQL code and even speeding up queries in many instances.

      YugabyteDB will very soon be the de facto RDBMS of choice in a cloud-native world.

      Exist is your data solutions partner of choice!

      Explore the next level of your digital transformation journey with our Data Solutions Services. Let’s look at opportunities to better maximize your ROI by turning your data into actionable intelligence. Connect with us today, and we’ll proudly collaborate with you!