More small and medium-sized businesses than ever are seeing AI's potential to transform their operations. However, like any technology, AI has its own set of pros and cons. Let's discuss three major advantages and drawbacks you can expect if using it in your business. Hopefully, it helps you make an informed decision about adopting AI.
Microsoft's cybersecurity vulnerabilities have been making headlines recently. These lapses in security are causing concern for customers worldwide. The impact of these vulnerabilities is far-reaching. It affects network security and increases the risk of data breaches, causing somewhat of a ripple effect.
With technology being so important for all businesses in at least some capacity, it’s no small wonder that effectively using it (and having someone on-hand to manage it all) is tremendously valuable for any company. This is where a managed service provider (MSP) can be helpful, even for businesses that have a dedicated IT department. All small businesses benefit from working with an MSP.
I was meeting with an old colleague the other day. We met over Microsoft Teams to just check in and see how they were doing—no real itinerary, just to check in with a familiar face that I haven’t personally talked to in a few years. They had a little trouble getting into Microsoft Teams, since they were used to Zoom. I patiently smiled and helped them through it, and told them “No worries, it’s always the little differences that complicate things!”
At the time, I said this just to be empathetic. At first, the nerdy computer-geek part of my brain told me that the process to get into a Zoom meeting vs a Teams meeting, from their perspective, is exactly the same. But after the call, I really thought about this small interaction, and you know what? Things have gotten complicated.
So, you want to utilize cloud computing for your business. Making that decision is a good start, but now you need to figure out how the cloud will help accomplish the goals you’ve set for your business. You need to develop a cloud strategy.
Fortunately, we can help.
The business world is always ebbing and flowing with new concepts, ideas, and strategies in the attempt to innovate. The more technology can be used to do things that help a business run, the more processes can be automated bringing a layer of efficiency that isn’t possible without it. Let’s take a brief look at some of the technology trends that small businesses will be confronted with in 2023.
What makes a small to medium-sized business so different from a large, enterprise-sized one? The amount of people and moving parts, of course, but if you really consider it, there isn’t all that much. This is why when looking to control your small business’ IT support costs, choosing managed IT services is a good option. This month, we thought we’d take a look at some of the other benefits managed IT can bring your organization:
Nowadays, social media companies have a lot of power and influence, which is part of the reason that so many of today’s largest businesses have adopted social media as a critical promotional tool. With the average person spending about two hours and 24 minutes on social media and messaging applications per day, this makes social media a clear opportunity for any sized business to embrace. Let’s consider a few ways this can be accomplished for these different businesses.
Budgeting for your technology can be pretty difficult. You never really know when some problem is going to present itself and cost your business an arm and a leg. Since you can’t always see what’s coming, saving money when you can is important. Let’s take a look at a few ways that you can save money on your business’ IT.
You don’t need to be repeatedly told just how important risk management is. If you did, you probably wouldn’t have made it this far. One problem you see from business owners today is that while they understand just how many problems there are--and which ones they need to find solutions for first--they want to grow their company so fast that they overlook potential problems and end up hurting their business as a result. This month, we thought we would talk a little bit about contingency planning and how, if it is done right, it can have a marked effect on your business’ ability to carry-on after a problematic event.
If your business uses technology to be more productive and efficient, you know that as soon as you buy a piece of new technology, there is another one right behind it that has more power, or better features. This is true for consumers as well. This constant innovation is what has made technology a viable option for many small businesses. After all, if computers hadn’t been innovated on constantly, they’d still be the size of a room (or wouldn’t exist at all).
Small businesses often have to rely on different means to achieve the same level of project management as enterprises. This is due to the demands of project management being significantly different in scope, but also the way that your company implements new technology solutions. Instead of worrying about the specifics of project management, you can outsource these responsibilities to a managed service provider.
The modern small business will face several challenges in 2018. The world is changing, and with it, so is business. For many small businesses, this can either be looked on as the opportunity they’ve been waiting for, or, it can be viewed as the beginning of the end. No matter what situations you are faced with this year, understanding what problems your business faces, and how to solve them is imperative to your small business’ success.
In the technology world, 2018 will be more about utilizing innovations to the technologies that are already available rather than deploying newfangled technologies, as many small businesses focus on revenue generation rather than simply cutting their technology costs. Chances are your organization already takes advantage of many of today’s most cost-prohibitive technology trends. Whether or not you are using them properly will ultimately be the difference in meeting your yearly projections. We take a look at some of the most compelling variables a small business owner needs to consider in order to take their business in the right direction.
Running a Smarter Business
While 2017 was a good year for the small business, many smaller organizations fall into the trap of not focusing on revenue generation; setting their sights on sustainability rather than success. If your business has been around the block a bit, you may be comfortable with the “business as usual” approach. You may be surprised to know that by changing the way you approach certain core strategies, you can initiate greater revenue generation and stop focusing so much of your time and effort on practices that aren’t effective and just hold your business back.
Cost cutting initiatives have been all the rage for the past several years. Many businesses utilize outsourced services such as cloud computing, print services, and staffing agencies to reduce their capital expenses. This strategy is sound--it provides an organization with more upfront capital--allowing for more a targeted approach at projects that can spur on revenue generation. The issue is that by not making ANY true capital investments, you are likely paying more.
One way to improve your business’ position is to consider the value you get from recurring services. A service like the one Telesys Voice and Data provides, where you can see an immediate return on your recurring investment, is valuable, and rare. There are some services, however, that don’t provide a rapid or sustainable return, and by paying more up front, you could actually mitigate cost that adds up over time. Paying for software you barely use per month may seem affordable if you look at the operational cost, but in true capital, renewing a yearly license for a single copy of the software may actually save you money.
As far as the revenue generation problem goes, there are two solutions that are available to every business that, once implemented, are likely to provide a solid ROI. The first is analysis. Your company generates a lot of data, and much of that data is relevant in the context of making better business decisions. Business intelligence, that is the structured analysis of warehoused data, can provide some very useful answers. Consider that your operational data, data about staff effectiveness, data about your marketing and advertising initiatives all hold in them a small piece of truth about the way your business operates. By gaining a more comprehensive understanding of how your business functions, you can make better strategic and operational decisions.
At Telesys Voice and Data, we are just starting to understand how to help our clients run smarter businesses. Since profit margins and returns on many goods have shrunk significantly over the years, businesses have looked to services to fill in the gaps when they don’t have the capital to undertake major investments for staff, technology, or otherwise. Today we can set up a data warehouse to store all the relevant data so that you can use automated analytic software to crawl the data to get the truth about how your business functions, and what to do to boost revenue generation.
The second is sometimes looked on as an antiquated strategy; but, in the information age it remains as true today as ever. Invest in your people. It’s simple, the better your people enjoy working for you--the more they see your sacrifice and hard work--the more they have reason to be proud to have their job with your organization--the better your company will function. While we push automation every day to help you get more out of your company, you won’t get anything out of it if you view your employees as a hindrance. Think about it this way, your people are your biggest expense, and as a result, should be your biggest priority.
With the technology that is coming, this tried-and-true method of running a smarter business is going to be tested. Many larger enterprises have begun utilizing automation, machine learning, and artificial intelligence in an effort to provide higher returns for their investors. It’s only a matter of time before small businesses around the world will be using the same technologies to try to turn a penny into a nickel. While there are some jobs that can be eliminated with these technologies, there will be different jobs created through the use of them. With automation beginning to redefine the job market, independent workers will be in demand to fill in the gaps. So, while these jobs have less definition, the need for hungry, happy workers will be there for as long as goods and services are produced.
To get your staff working the way you need them to work, you have to invest in them. Here are three ways you can run a smarter business by getting more from your staff:
Getting smarter about the way you do business doesn’t start with technology, and doesn’t start with capital, it starts with a dedication to do the right thing for your clients, for your staff, and for the myriad of other people that depend on your business. If you handle your staff in the right way, it will provide you with the largest ROI of any investment you can make this year, and any year.
Learn Where You Can Compete and Where You Can’t
Many of today’s small business owners look at their more-successful competition and try to emulate the practices that have made them a success. The fundamental problem with this strategy would be that you are in competition with these companies for revenue, and by doing things the same way as they do it doesn’t set your business apart from them. That being said, there is are reasons that the company you are setting out to emulate is having success. By copying your competitors’ best features, you could create some space in even the most saturated market. Whether they boast superior brand recognition, have superior customer service, are superior at fulfillment, etc. you have to know your place in your market. In fact, many experts consider the act of finding your niche inside of your target market to be one of the largest differentiators to achieving success for a small business.
Consider your smartphone for a minute. You decide to start a company to make smartphones. Chances are you aren’t going to compete with the Apples, Nokias, and Samsungs of the world. So, while it stands to reason that you may want to abandon your plan altogether, you start looking at the data and there are no phones made specifically for doctors. If you deliver on your promises and create a device that works for the needs of doctors, there is a chance that you can compete within that niche market, while not really competing at all in the larger market at all.
Anything you can do to deliver your goods and services to the most people should be the aim, but be cognizant that by setting your sights too high, you may just be putting your company in a perilous predicament. You need top tier customer service, a trustworthy product that you stand behind, and a plan on how to get your product to your consumers if you are going to compete in any market. Find your differentiator and exploit it.
2018 is another year where technology will be in the mind’s eye of every business owner, but to find success by using technology, you have to apply it in the right way. For more information about business technology, how to stretch your IT budget properly, or any other technology related subject, call the IT professionals at Telesys Voice and Data today at (800) 588-4430.
While many different people open businesses, the primary reason that they all do so is to make money. A positive cash flow is essential if the business is to generate funds that support a cause or provide a decent living. However, to collect this cash flow, a business must have their invoices returned. As it happens, this doesn’t often occur in a timely manner.
Without competition, there would not be businesses. However, this competition needs to be fair in order for small businesses to embrace new opportunities that arise. A U.S. bill that allows for both of these goals has passed in the House of Representatives and will be voted on in the Senate.
Artificial intelligence is becoming more and more accessible to businesses of all sizes. In fact, it is swiftly becoming apparent that businesses that aren’t actively considering how to leverage AI in their processes are doing themselves a disservice.
Businesses are driven by processes. More often than not, these processes are fairly definitive - do this, then do that, then do the other thing - and require a set order of operations. There also happen to be a lot of these processes, which makes it important that they are well-documented so you and your employees can refer to this documentation later. Here, we’ll offer a few tips on how to best document a task.
Microsoft Excel has a lot of moving parts… assuming you know how to move them, of course. For this week’s tip, we’re going over a few shortcuts to help you make the best use of some of these parts.
That’s an interesting question, as there are many things that can create some form of lag in a business’ network. Let’s go into some common causes of this slowness, starting with one clear indication that something is up.
Mobile? Grab this Article!
Tag Cloud