Business ideas for Computer Science Grads

B-tech grads in Computer Science can reverse engineer any business. Engineers of the millennial era have twisted food delivery to make unicorns. Carpooling to multi-billion-dollar cab service on mobile. BFSI from agent-focused evolved as a mobile-based buying and selling platform.

It is a payback time for many revolutionized mobile-based IT firms. Many firms are going public, and founders are exiting with a money pile. The rush is to find the next trend which will live for the next decade.

What should you do? Is there any industry that can be reverse engineer, automate, collaborate, and commercialize on electronic & mobile?

Here are some business trends to be valid for the next decade:

Automation

Automation is buzz and will live its life for the next 10 years for sure. Many fortunes 500 firms have consultants to strategize or bought costly platforms to do automation. The tech champions named this trend have RPA or Robotic Process Automation.

Tech firms like Microsoft, IBM, SAP, and many more have come up with RPA platforms.

These platforms are equipped with a library of software, programmable bots, and runner. Library of software is to ease inputs. Bots imitate humans’ access to legacy software. The runner of the bot is to check on speed and exception. Together in work, they automate most mundane work.

Here are some use cases:

  • Procure 2 Pay
  • Order 2 Cash
  • Accounts Payable
  • Statutory compliances
  • Complaints management
  • Documentation

And many more.

What’s in for you:

Assume that you have a great rapport with Retail chain businesses or product vendors who put their stock on the marketplace like Amazon.

This group of business owners might have repetitive work and have FTE (Full-time equivalent) to do a job. FTE is directly proportionate to expenses.

Think about saving on FTE and automate work to make a bot do everything for this group. It can even mean that you need to automate their tax returns, statutory documentation, or accounts receivables.

It is just an example. You can even work on different other verticals like banking, e-commerce, content creation, social media updates, head-hunting in the recruitment process, purchase order creations, account payables, the list might go on.

Think about automation.

Size of business: 10billion USD and can grow to 30billion USD by 2025

Investment: 4 developers to start and 5 early adopters

Key to success: Should know the process and what to automate. Vertical specific will ease.

Digitization

Any information converted to digital format is called Digitization. Many things are on digital platforms. But many things are still left out to map in ERP.

Like a route plan in a supply chain, inventory at supplier network, competition data, salesforce analytics, expense management, etc. Digitization is also writing data in legacy software. Integrating world of software like payment wallets, e-commerce, social media channels, customer engagement systems, third-party automation platforms, etc…

What’s in for you:

Find your interest area and try to digitize things that are still manually done. Let’s assume that you want to champion SCM and can digitize many things around it. Make an application and create your platform on the cloud to do things like:

  • Tracking and traceability
  • FIFO outward and inward of stock
  • Warehouse management
  • Distributor stock visibility

Make data collection seamless by IoT and AIDC (Automating identification and data capture). Take away human intervention into the software and work on 100% digitization.

Similarly, you can do for expense management. Imagine, voucher management is with travel planning, integrated with the timesheet, incentivizing savings and processing reimbursement seamlessly. This digitization will take away approximately 4 FTEs for 500 employee companies. Employees will drive it rather than HR and F&A.

The other areas you can work on digitization are:

  • Employee onboarding
  • Customer onboarding
  • EXIM documentation
  • E-commerce updates
  • Banking reconciliation

And many more.

Size of business: 470billion USD and can grow to 1010billion USD by 2025

Investment: 4 developers to start and 5 early adopters

Key to success: Should know the process and what to automate. Vertical specific will ease.

Data warehouse

Data warehouse and analytics is one big confusion for any CTO, CEO, and CFOs. No one knows what the best fit for them is. The business is so confusing that sometimes the consults never leave premises after implementing it. The need for service is always there and analytics will never saturate.

In reality, a data warehouse is just a repository of multiple sources. This repository eases reporting of KPIs, reporting of triggers, dashboard, and BI. A data warehouse is a practice in nature and evolves as you use it. There is also a need of understanding multiple ERPs, legacy software, and industry best practice for analytics.

Data warehouses are specific for different verticals and functions. Next, the Data warehouse needs a feed from legacy software. This gives a great scope of working and making a specific data warehouse engine.

What’s in for you:

Assuming you are a champion in data SQL, understand architecture, manipulate data well, program APIs and work on data analytics, then you have excellent prospects to work in a

Data warehouse.

Create a platform as SaaS and work in data injection. Work on predictive analytics, prescriptive analytics, and a lot of descriptive analytics. Work for verticals like:

  • Retail & e-commerce
  • BFSI
  • CPG and manufacturing
  • HR specific
  • Hospitality vertical
  • Energy

And many more.

Size of business: 20billion USD and can grow to 50billion USD by 2025

Investment: 4 developers to start and 5 early adopters

Key to success: Should know the process and what to automate. Vertical specific will ease.

SaaS

World of SaaS is a great place to try your luck. SaaS or Software as a service is also known as cloud-based software. From massive corporations to tiny mom and pop shops, cloud-based software is the default deployment. SaaS is the way to deliver software.

B2B SaaS software has a great scope and grows exponentially. Many firms going on the cloud with their essential processes like salesforce, HR, CRM, etc. Choose what better you can work on and built an application on the cloud. Sell and increase your ARR (Annual Recurring Revenue).

What’s in for you:

SaaS is traditional software with delivery on the cloud. It requires a product-based thought process and while you make this; you need to champion the vertical and function. The process should be known very well, and you need to map it in your SaaS. The key is on ease of data capture, UI/UX, mobility, analytics, and integration of different other software platforms.

Here is some SaaS you can work:

  • CRM with AI and automation
  • HR with AI
  • ERPs with mobility
  • Business Intelligence vertical based

And many others.

Size of business: 300billion USD and can grow to 500billion USD by 2025

Investment: 4 developers to start and 5 early adopters

Key to success: Should know the process and what to automate. Vertical specific will ease.

Codeless software

This trend is picking up and will not be off-trend soon. Codeless software is a low-code/no-code development platform is a type of visual software environment used to design and manage software applications without the use of code or script.

Imagine a big firm wants to run a survey to all customers and wants software for it. Such firms can quickly contact the no-code software platform, configure the survey form, and run it.

The advantage is zero lead time for such firms and customize the survey to very specific.

Here is a kind of no-code software:

  • App builder
  • Website builder
  • Chatbot builder
  • Customer success software
  • HR modules
  • Surveys and feedback
  • Legal
  • Document management

And many more

What’s in for you

Get on in the world of freeware or community software. Tweak it to work in the condition you would need. Make it easy to configure. Work on better UI/UX and put it as no-code software.

Make many more modules for ease and convert them to configure in every scenario.

No code needs you to be quick and smart in writing software or tweak it to your need.

Size of business: 50billion USD and can grow to 100billion USD by 2025

Investment: 4 developers to start and 5 early adopters

Key to success: Should know the process and what to automate. Vertical specific will ease.

One thought on “Business ideas for Computer Science Grads”

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