It’s not too late to cash in on 2017’s IT trends
January 2, 2018
“Fad” is a dirty word for many small-business owners. Whether it’s what they’re selling or what they’re investing in, business owners need long-term and reliable investments to secure their future. With 2017 in the rearview mirror, we finally know what was a fad and what was a smart investment. See for yourself!
Small businesses love the cloud
According to research from IDC, more than 70% of businesses with 10-99 employees took advantage of cloud technology in 2017, and that number is expected to rise this year. This is largely due to IT providers demonstrating that the cloud is just as, if not more, secure than on-premises solutions. The list of possibilities for what can be hosted in the cloud on a small-business budget is getting longer every day -- if you’re not devoting resources to this technology, it’s time to jump onboard.
Mobile payments earn users’ trust
Like the cloud, making credit card purchases using a mobile device suffered from a trust deficit in its early stages. For good reasons, consumers have been conditioned to treat IT security with caution, and storing financial information on a smartphone that could wirelessly transmit that information to cashiers sounded dangerous.
However, after two years of availability without any major incidents, the number of users who have used smartphone-based wallets like Apple Pay has doubled. Accepting these payments is relatively simple for small businesses and opens up new business opportunities.
Cybersecurity becomes affordable for SMBs
Ransomware had yet another year of explosive growth, and small businesses were a primary target. Thankfully, managed IT services providers met the increased demand for cybersecurity services with intelligent data backup and network protection solutions tailored for SMB budgets. There will be even more ransomware attacks in 2018, which means you should be investing in more cybersecurity services than you did last year.
The Internet of Things gains popularity
Just a couple years ago, Internet of Things (IoT) devices were novelty gadgets for people with money to burn. Everything was being connected to WiFi networks: egg trays, pet-activated video chats, belts, you name it. But due to more useful applications in 2017, nearly a third of US businesses are now taking advantage of IoT gadgets. Connected thermostats, door locks, and AI assistants make it easy to save money, increase security, and boost productivity.
“Artificial Intelligence” is widely adopted
Although we’re still far from building computers that can truly think for themselves, 2017 was the year that computers got much better at creatively organizing and interpreting data for us. From digital assistants that answer your phones to customer relationship management platforms that intelligently uncover sales opportunities, IT solutions for business are getting significantly cheaper and smarter. Experts predict that more than 30% of businesses will use AI by next year and we recommend you join their ranks.
Technology investments are no different from any other investment. There will always be risks and you should always consult with an industry expert first. When you’re ready to get more value out of your IT, give us a call and we’ll get started on your 2018 plan!
Published with permission from TechAdvisory.org. Source.
Does your small business ever feel like it has too much data? This is a fairly typical occurrence. The way small businesses function has changed as a result of the digital world. In addition to customer emails and backups, we now have an overwhelming amount of data to manage, including financial statements, contracts, logs, and employee records. According to a PR Newswire survey, 72% of company executives say they have stopped making decisions because the information is too overwhelming. All of this data can easily become disorganized if improperly handled. By implementing the appropriate data retention policy, effective IT solutions assist. A strong data retention policy keeps your company compliant, organized, and cost-effective. Here's what should be deleted, what should be kept, and why.
Selecting the best cloud storage solution can be similar to being faced with an endless buffet of options, each one claiming to be the best. A poor choice may result in lost revenue, compromised data, or even a snag in productivity. The stakes are extremely high for small business owners. Regardless of your level of experience, we will guide you through this thorough guide to help you choose a cloud storage solution that is specific to your company's needs.
Cyber threats are a daily reality for small businesses navigating an increasingly digital world; they are not merely an abstract concern. Financial and reputational harm can result from ransomware attacks, phishing scams, or unintentional data leaks. In order to reduce the risks, more businesses are using cyber insurance. Not every cyber insurance plan is made equally. Many business owners think their policy covers them, but they discover (too late) that it has significant gaps. We'll explain exactly what is and isn't covered in this blog post, along with how to pick the best cyber insurance plan for your company.
Have you ever questioned how susceptible your company is to online attacks? Nearly 43% of cyberattacks target small businesses , frequently taking advantage of lax security measures, according to recent reports. Multi-Factor Authentication (MFA) is one of the most underutilized yet powerful ways to safeguard your business. Even with your password, hackers will find it much more difficult to obtain access thanks to this additional security measure. The implementation of Multi-Factor Authentication for your small business is explained in this article. Knowing this will enable you to take an important step toward protecting your data and guaranteeing more robust defense against possible cyberattacks.
Managing a small business requires a lot of multitasking. These hats include operations management, customer service, and maintaining order. AI-powered automation is a solution that can reduce the workload. Small business owners can now automate tasks that were previously done by hand thanks to technological advancements that have made these tools more affordable and accessible than before. There's no need to hire a big staff or spend a fortune. AI can manage a large portion of your hectic workload, allowing you to concentrate on more crucial facets of your company. AI can act as your virtual assistant, increasing productivity and simplifying processes, whether you're a small team manager or a solopreneur. This blog post explores how you can automate everyday tasks and free up your time if you want to learn more about how AI can change your company. We'll demonstrate how to use reasonably priced AI tools to reduce repetitive tasks, save time, and increase business efficiency.
In today's digital world, cyber threats are smarter than ever. Weak passwords or old ways of proving who you are can cost people and businesses money, steal their data, or steal their identities. A strong password is the first thing that will keep hackers out, but it's not the only thing that will work. This guide goes over the basics of strong passwords, two-factor authentication, and the best ways to keep your accounts safe. We'll also talk about new ways to check things and things you should never do.
A sophisticated type of cyberattack known as "password spraying" uses weak passwords to acquire unauthorized access to numerous user accounts. This approach focuses on using a single password or a collection of passwords that are frequently used across multiple accounts. The goal is to circumvent standard security protocols, such as account lockouts. Password-heavy attacks are highly effective because they target people and their password management practices, which are the biggest weakness in cybersecurity. This ar ticle will describe how password spraying operates, address how it differs from other brute-force attacks, and go over how to detect and prevent it. We will also discuss how businesses can defend themselves against these threats and examine real-world examples.
What would happen if tomorrow your company lost all its data? Would your operations come to a complete stop, or would you be able to recover? Data, including communications, financial records, product files, and customer information—is the lifeblood of any small business. However, data security is frequently neglected. After a disaster, 25% of small businesses close within a year, and 40% never reopen , according to the Federal Emergency Management Agency (FEMA). That represents an incredible 65% failure rate because of inadequate preparation. The good news is here. An enterprise budget and a dedicated IT staff are not necessary for disaster data protection. You can create a backup and recovery plan that reduces downtime and provides you with peace of mind if you have the right approach, the appropriate tools, and a little forethought. In this blog post, we will discuss practical and easy-to-follow advice to help you protect your most valuable business asset: your data.
Do you know why some small- to medium-sized businesses (SMBs) succeed while others fail during the first five years of operation? Poor leadership is one reason, the lack of capital is another. Another big reason is they didn't prepare for major disruptions, such as natural disasters and cyberattacks, that can bring their business to a grinding halt. This is why you need a BCP. What is a BCP? A BCP is a predefined set of protocols on how your business should respond in the event of an emergency or natural disaster. It contains contingency plans for every aspect of your organization, including human resources, assets, and business processes. Key threats to business continuity Various types of threats can affect SMBs such as: Natural disasters – These are natural phenomena such as storms, earthquakes, and wildfires. Man-made disasters – These include cyberattacks, intentional sabotage, and human negligence. Equipment and utility failures – These include unexpected power failure, internet downtime, and disruption of communication services. How to build an effective BCP If your organization does not have a BCP in place, now is a good time to put one together. These steps will help you formulate an effective BCP that will ensure your company keeps running even during a major crisis. #1 Business impact analysis (BIA) A BIA will help you determine how a disruption can affect your company's current functions and processes, such as personnel, equipment, technology, and physical infrastructure. This step will help you calculate the potential financial and operational loss from each function and process affected. #2 Recovery options This step will help you identify key resources essential to returning your business to minimum operational levels. Some recovery options you can take include letting employees work from home or operating from a secondary location. #3 Plan development This step involves assembling your company's continuity team, which will be responsible for developing and implementing your BCP. #4 Testing and training Once your BCP is in place, your continuity team needs to perform regular tests to identify gaps and make necessary changes to ensure the plan’s effectiveness. They also need to conduct regular training for your employees so everyone knows their respective roles when a disaster strikes. Having a foolproof BCP is a great way to ensure your business can quickly bounce back after a major disaster. If you're thinking about creating a BCP for your company but don't know where to start, give us a call today. Published with permission from TechAdvisory.org. Source.
As the coronavirus disease continues to spread all over the world, more and more businesses are faced with a difficult decision: find a way to adapt to the current situation or close their doors forever. Here are some tips to help your business adjust to the challenges of the pandemic and stay afloat during these tough times. Reduce expenses This one is obvious but still bears mentioning: take out your books and find out where and how you can cut costs without affecting the quality of your service. Putting off non-essential or discretionary expenses, such as repainting your offices or buying new equipment, is a no-brainer. Cutting out fixed expenses such as rent and loan payments is harder, if not impossible, to do. However, it is crucial if your production and revenue are at a standstill. Try asking your landlord for a reduction or deferment of a portion of your rent. Also, ask your bank if you can put off or skip loan payments for a finite period, or if they can at least waive fees on late or missed payments. (Find out if your bank is one of those offering relief to borrowers amid the pandemic here.) Learn from your competitors Observe both your direct and indirect competitors, especially those that are faring better than others. Find out what they’re doing differently and see if this will work for your business. More than adopting these strategies, it’s important to adapt them to your own and your customers’ needs. It’s also a good idea to look at larger organizations within your industry. SMBs like yours may not be able to compete with bigger players on a scale level, but you can learn a few things about customer service, marketing strategies, and the like from them. Redefine your business model Even with coronavirus restrictions gradually being lifted across the United States, it would take a while before things return to normal. It’s crucial to ask yourself if traditional business models would still make sense in a post-COVID-19 world and adjust accordingly. Determine any changes you need to make to your current business model. This involves identifying who your customers are and what they need, your staff’s capabilities, and any uncertainties and their impacts. Such changes may include finding a way to deliver your products or services to your customers, just like what groceries and restaurants did in the face of lockdowns and shelter-in-place directives. Connect with your customers Understand that many of your customers may have been affected in some way by the pandemic — they might have been laid off, for instance, or are caring for a family member who tested positive for COVID-19. They may reach out to you to pause or cancel your services, or to ask for a discount or payment deferral. When speaking to them, demonstrate empathy, whatever their concerns may be. When things get back to normal, it’s likely that those who had a positive experience with you during the pandemic will stick around and keep doing business with you. Keeping your customers informed throughout these trying times is important. Make sure, though, that what you’re saying is relevant to them. For example, if you run an eCommerce business, let your customers know through email or social media about any shortages in supply and when you expect to be able to fulfill their orders. Doing so reassures customers that you’re doing your best to provide them with the same quality of service pre-COVID-19. Upskill your staff Upskilling your employees may be the best way to spend your resources during the current situation. Equipping your team with new knowledge and skills will help them adapt to the changing business environment. Sharpening your team’s digital skills is especially important now that the COVID-19 crisis is spurring digital transformation. Other areas to focus on are project management, communication, data analytics, and digital marketing. And if you find yourself short-staffed, it might pay to train employees to handle other aspects of your business, ensuring that everything runs smoothly throughout the pandemic and beyond. The current situation requires swift and decisive action from business leaders. Making smart and proactive decisions now will ensure that you’ll mitigate the impacts of COVID-19 on your business, and that you’ll emerge from this crisis stronger than ever. For more tips on how to run your business effectively in times of crisis, drop our experts a line today. Published with permission from TechAdvisory.org. Source.