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.

Consumers and businesses are already dealing with the huge impact of COVID-19. As governments and private businesses continue to find ways to deal with the coronavirus pandemic, they turn to all available technology resources. In the long term, expect the following changes in the use of technology. Increased reliance on communications technology The need for remote interactions and stronger communications technology will inevitably increase. Businesses are expected to immediately adopt things like 5G technology to enhance communication speeds and performance. Meanwhile, specific industries like healthcare will adopt technologies that optimize current processes. This includes using telehealth platforms that will let healthcare providers diagnose and issue prescriptions remotely. To do that, they need 5G-powered systems that will efficiently facilitate consultations. Many companies have already shifted to remote work setups. Business leaders now and in the foreseeable future will use more platforms that efficiently facilitate collaboration with colleagues, business partners, and customers. Tools that will let them achieve this include teleconferencing solutions like Zoom, Microsoft Teams, and others. Digital ways to network Now that many businesses of all sizes have shifted to remote work, it follows that events, conferences, and a variety of gatherings worldwide such as tech conferences have been canceled. This is to curb the fast spread of the coronavirus. Certain organizations will forgo in-person networking events and business meetings and will explore online avenues to maintain business opportunities. Again, this could mean turning to telecommunications tech that offers reliable connectivity and fast speeds. A boost in cashless transactions Paying in cash is quickly becoming a thing of the past due to recommendations of healthcare authorities like the World Health Organization (WHO). This is to limit the spread of the virus that can spread through cash. More than ever, businesses must explore ways to implement measures that restrict cash payments, if not eliminate them altogether. In other words, contactless payments will now be the norm in many countries around the world. This certainly applies to small businesses, too. Because of the pandemic, businesses across industries are expected to quickly adopt mobile payments and other forms of electronic payments. Growth in eCommerce As the general public drastically limits time spent outdoors, brick-and-mortar stores experience less and less foot traffic. Businesses that have adapted to new ways of product and service delivery would find themselves increasingly maximizing online purchase options for their customers. However, the logistics involved in delivering goods and services could prove overwhelming for many businesses. For instance, they may have to adjust order fulfillment models to align with shifting demands. That could mean increasing the workforce in charge of eCommerce operations. Therefore, those that are able to boost their online shopping operations must take steps to enhance their online selling capabilities to meet unpredictable surges in demand. In a time of crisis, businesses must explore the many ways technology can help sustain operations; whether it be in terms of maintaining communications, delivering goods and services, and gearing up for a drastically changed future. Call our IT experts today and let us know how you want your tech resources to aid you in these tough times. Published with permission from TechAdvisory.org. Source .

Smart business owners use an uninterruptible power supply (UPS) for emergency situations like a storm, fire, or other disasters. Often, a UPS is deployed for desktop computers to give employees ample time to save their work and prevent losing unsaved work. An even better power-saving strategy in emergency situations, however, is to use UPS for networking equipment. UPS for network equipment UPS systems provide backup power in case of outages and protect against power surges, which don’t just damage computers but also make you lose unsaved work. Deploying them for Wi-Fi routers and modems allows you to stay connected to the internet in what is typically a chaotic time. Moreover, it makes sense not to just keep your PCs powered up, but to also have internet access during a disaster. This strategy works relatively well if your staff are predominantly laptop users, as that means you only need power for your Wi-Fi gear. Better than generators Although generators are indispensable for certain businesses, they also require greater upkeep. Small- and mid-sized businesses (SMBs) may not have enough capacity to maintain them because they typically require a utility crew who can manage high-maintenance equipment. What’s more, extreme mishaps when misused or mishandled could result in generator-related fatalities. On the other hand, misusing a UPS unit could result in the loss of a day’s work, but it’s unlikely to lead to anything as extreme. Why internet access is important during a disaster UPS-supported modems or routers help you stay online for as much as 90 minutes, which should be enough time to get your bearings before power finally runs out. Internet service providers (ISPs) are usually prepared for catastrophes and would normally have an emergency power source to stay operational. And if you can stay online via Wi-Fi during an emergency, you get the following benefits: Internet speed that’s faster than cellular access No extra telecom costs resulting from overreliance on cellular data All devices stay online using a stable Wi-Fi connection Devices don’t have to rely on cellular data-equipped phones for internet connection Plug in your network gear now Businesses that aren’t located in disaster-prone areas probably don’t give much thought to installing UPSs for their computers, let alone their modems. But accidents and emergencies are inevitable. And when they happen, you’ll find that having internet access is one of the most important things you need to ensure business continuity. Think of an emergency power supply source like a UPS as an investment that not just protects your systems from data loss but also keeps your Wi-Fi equipment functioning in emergency scenarios. Call us today for productivity-saving tips and other hardware hacks for your business. Published with permission from TechAdvisory.org. Source.

Whether it be cloud, mobile, or on-premises, every technology you use stores confidential data that are accessed by your employees. So how do you guarantee the safety of said data from cyberthreats like identity theft, phishing attacks, and more? Identity and access management (IAM) is the answer, and here’s why. What is IAM? Identity and access management is a system that secures, stores, and manages user identities and access privileges. It ensures that users are who they say they are and will grant access to applications and resources only if they have permission to use them. System administrators can make it so that employees can only access apps and data they need for work. Other solutions that go into identity and access management include single sign-on (SSO) and multifactor authentication (MFA). The former allows users to securely log in to multiple applications that they are authorized to access. Meanwhile, MFA sets an additional method of user verification other than passwords. This includes fingerprint scans, facial ID, or a one-time security code from an SMS. These security solutions are designed to protect digital assets even if users attempt to access company accounts through mobile devices and the cloud. Centralize access control Too much access to certain systems is risky, while too little can hamper productivity and frustrate users. IAM strikes the perfect balance by letting you set centralized policies for the right access privileges. For example, you can deny your design team access to the accounting system while granting it to your CFO. Each user’s role and attribute can be used to determine which resources they’re allowed to access and to what extent. This not only offers better security, but also more flexibility and ease of management. Lower chances of data breaches With SSO and MFA, your employees will no longer have to remember multiple passwords. Instead, they’ll be able to prove their identity using evidence-based authorization such as answering a personal question that only they would know. IAM also comes equipped with advanced encryption tools to protect sensitive data, reducing the risk of compromised user credentials. Improve user experience Customers today interact with your company across multiple channels, whether in the cloud or via third-party applications. This is where IAM helps provide a better experience through SSO, self-service capabilities, and unified customer profiles that make communication processes quick and easy. Your employees, on the other hand, will be able to access the information they need securely and conveniently no matter where they are. This means productivity will no longer be confined to their office desk. Achieve regulatory compliance Businesses today must meet the constantly changing regulatory requirements concerning data access governance and privacy management. IAM was designed with just that in mind and provides control over who can access data and how it can be used and shared. Reduce IT costs IAM automates and standardizes many aspects of identity, authentication, and authorization management. This means you’ll be able to minimize significant labor costs associated with keeping your business environment secure. An identity and access management solution equips you with much-needed security without compromising on usability and convenience. To operate in a digital business environment, it’s not a matter of “if” but “when” you’ll adopt IAM within your company. If you’re looking to enhance company-wide security, whether with IAM or other solutions, why not give us a call? We’re sure we can help. Published with permission from TechAdvisory.org. Source .

Are you weighing the pros and cons of the cloud for business continuity? Let’s take a closer look at why the cloud is best for this strategy. Better uptime Backing up to an internal drive or an external hard drive won’t completely secure data. If someone steals your device, you instantly lose the backup it contains. Natural disasters, cybercrime, or man-made errors will also likely destroy your backups. As a result, your company could face expensive downtime. With cloud-hosted backup, however, things are different. The entire purpose of a cloud backup is to make sure your data is available when you need it. Top cloud service providers will offer redundancy, which means they will make a backup of your backups. This increases uptime and ensures optimum levels of data availability. Fast resource provisioning When backups are being implemented, spikes in user activity or cloud environment accessibility can slow down a website or other running systems. This is where a cloud hosting provider comes in handy. By closely monitoring user activities, providers can see spikes either before or as they are happening. The provider will provision more resources and virtual machines to manage the influx of users. This type of flexibility is particularly useful when data backups are in process. Backup frequency Most companies work on files and update information throughout the day, so it’s important to have a real-time backup plan ready in case an unexpected disaster occurs. When you back up data in the cloud, you will no longer have to worry about managing the frequency of your backups. Most cloud-hosted providers offer round-the-clock or other fixed backup frequencies, while others let you set your own backup schedule. Some of the services offered by these providers will back up files as you make changes, so you’ll know that the very latest version of files and data are always backed up. Distributed infrastructure Cloud-hosted backup means the delivery of data backup to users all over the world. Selecting the right type of cloud hosting partner is equally as important as having a cloud backup plan in the first place. If international users are trying to access database or download applications through your business website, latency will become a factor — the closer the user is to the data, the faster they’ll be able to access information. A suitable cloud hosting partner will be able to provide backup servers at a location that best suits your company’s business continuity needs. Distributed infrastructure is beneficial if you’re looking to support a large number of worldwide users. Businesses everywhere are utilizing cloud backup solutions, so don’t be the one left behind. If you’re looking for a managed cloud backup service to protect your business data, give us a call today to see how we can help. Published with permission from TechAdvisory.org. Source .

Business Intelligence (BI) has conventionally been limited to big business; only they can afford pricey experts with specialist knowledge who can leverage BI’s value. But the rise of self-service BI tools has leveled the playing field, allowing small- and medium-sized businesses (SMBs) to get in on the game too. And with SMBs now producing far greater volumes of data than in the past, there’s never been a better time to put BI to use in your organization. Here’s what you need to know about BI. You’ve already got the data you need It’s easy to underestimate the amount of data your SMB already has at its disposal. In every area of your business, from finance and sales to customer relations and website management, the software packages you use to simplify your everyday operations are packed with reams of information that most of us don’t even think twice about. By talking to key stakeholders in your organization’s various departments, you can get an idea of the kind of data you already have, how it’s generated, and where it’s stored. You can then start to think about using BI tools to transform that information into meaningful business insights that will inform your decision-making. No need for you to invest in time-consuming data generation from scratch! Self-service BI tools are plentiful — and affordable The emergence of self-service BI puts useful business analytics within reach of smaller business owners who lack the fancy-pants budgets of larger corporations. In fact, there are numerous self-service BI tools that you can use to get started in this area without even spending a dime. Microsoft Power BI is a powerful application that’s pleasingly user-friendly, and most businesses will find the functions they need in the free version. Zoho Analytics has a low entry-level cost, too, and the slightly pricier yet still affordable Tableau is another option that’s worth exploring. It’s easy to get started BI is an intimidating term, especially for the average business owner. But by taking small steps, it’s easy for anyone to get started — and before you know it, you’ll be enjoying the benefits of having data-driven, intelligence-based insights that will enable you to make better business decisions. Most self-service BI tools come with built-in suggestions for reports that businesses commonly run and find useful. Other worthwhile statistics to explore include the percentage of your clients who cancel within a set period, website landing pages that generate the longest visits, your most profitable individual products or services, the days or months in which you generate your highest revenues, and which of your clients bring in the most revenue and profit. Truly harnessing data is the future of the business world — it’s how companies like yours can make smarter decisions that increase efficiency and profitability. And having self-service tools available means SMBs no longer need a crazy budget to be able to afford the benefits of BI. To find out more about putting in place the tools that can help you do smarter business, just give us a call. Published with permission from TechAdvisory.org. Source .

At the end of the day, the success of any business comes down to whether it’s making a profit. That’s why building and maintaining relationships with your customers — your primary source of revenue — is extremely crucial. To respond to this need, savvy business owners are implementing customer relationship management (CRM) systems as a part of their business operations.  What is a CRM system? CRM is a system that allows businesses to manage, record, and evaluate their customer interactions to provide better services and boost sales. You can use CRM to store customers’ contact details, accounts, leads, and sales opportunities all in one place.  What are the features of a CRM system?  Data management – When customer data is recorded, the CRM system centralizes the data into one file, called a master file. Everyone within the company then has access to this data source, preventing confusion from inaccurate or duplicated data. Collaboration – Nowadays, clients demand quick and efficient customer service, so all involved departments must work together to quickly resolve client concerns. CRM systems enable collaboration by enabling the sharing of customer information among departments. This way, everyone is on the same page on clients’ circumstances and requirements. Customer segmentation – A CRM system arranges your customers into groups based on criteria such as age, gender, location, and even their likes and dislikes. This allows you to target marketing messages to your customers more accurately, potentially increasing your sales numbers. Task tracking – CRM systems have task tracking features that enable your employees to stay on top of important tasks, such as contacting customers via email or phone and following up on leads. CRM systems also send reminders to employees about their assigned tasks so that nothing falls through the cracks. In-depth reporting – CRM systems provide a thorough analysis of your customer base. Its reports give details including an overview of product sales numbers, marketing strategy performance, most successful products or services to date, and even a prediction of whether your sales target will be met at the end of the month.  If you’re looking to improve customer service and increase sales conversion using a CRM system, contact us today!  Published with permission from TechAdvisory.org. Source . 

Every business owner knows that having a business continuity plan is crucial to the success of their organization. However, when the unexpected does happen, companies tend to overlook how well employees can stick to the plan. To make sure your plan doesn’t go up in flames, here are five critical mistakes you must avoid. Mistake #1: Failing to plan for employees Companies that survive unexpected incidents are the ones that thought about their employees’ needs. Make sure you plan out everything from evacuation routes to emergency communication plans to make sure your employees have everything they need to survive the worst. Discuss your strategy with your employees to let them know that you will be there to support them and their families in the event of a crisis. This way, your employees will have peace of mind knowing you and the company are there for them, and in turn, they will be there to support you. Mistake #2: Using only words, not actions Once you’ve documented your business continuity plan, you need to think about the small stuff to ensure your plan is executable. This includes logistical considerations like medical aid and monetary support. Walk the walk and ensure your medical providers have made arrangements in advance. Have an assistance program in place to make sure your employees have access to people who can give them support in the event of an incident. Staff will remember if you provided them with care and support, and will remember even more clearly if you didn’t. Mistake #3 : Not showing your employees how the plan will work While many business owners worry about downtime, they overlook the fact that explaining the plan and its execution to employees is critical to minimizing lost productivity. As part of your maintenance program, include your employees in the testing process. Execute a live test to show your employees how they’re supposed to respond during a crisis incident. Who are they supposed to contact during a natural disaster? What are they supposed to say to clients? Where will they work when the primary office is down? These are just a few questions you need to have answered by the end of the live test. Mistake #4: Forgetting to check on people after the incident When an incident occurs, the first assessment most businesses make is to determine the impact it has on the company. But how do you execute that process without people? When disaster strikes, your employees will naturally want to be taking care of their families, not your business. Ensure your crisis management team addresses people issues first. Where are they? What do I need to do for them? Are there any special employee needs you must address? Mistake #5 : Reacting rather than communicating The most important thing to get right during a crisis is communication. It is imperative that your employees know you can provide them with the most up-to-date information. Set up a toll-free hotline so your employees can call in for regular updates or create emergency channels where they can communicate with one another directly. With that, you provide consistent messaging, and you eliminate secondhand information and employee guesswork. If your business continuity plan prioritizes your employees, you’ll have peace of mind knowing that your team is still standing strong even if the worst should happen. Want to learn more about business continuity and how it can help your business? Contact us today to see how we can help. Published with permission from TechAdvisory.org. Source .