Technology is making businesses extremely efficient. It is poised to shape every industry by making it easier to reach customers, market, and manage operations. Each business has unique technology needs. New technologies in the form of gadgets, software, and applications are making operations better each day.
Workers are also required to possess particular technology skills to make them more effective. The thirst for higher profits is being met by the adaptation of technology. Here are excellent insights on the role technology is playing in shaping the future of businesses.
Easy Set Up
Technology is making it easy for businesses to set up at the initial phase. E-stores, websites, and social media are some of the technology options entrepreneurs are using to introduce their products to the market. Even without a physical address, setting up an e-store gives you the credibility you require to sell goods and offer services to clients around the world.
Technology is especially important for entrepreneurs with limited resources. For instance, students who wish to start businesses in college use social media and blogs to build a reputation as well as set up stores online. You can buy dissertation online to create time for you to set up an online business. Using internet technology reduces the need to set up a physical office or warehouses that would increase your startup capital. Marketing over the Internet is also cheaper, enabling you to compete with established brands at the initial phase of your business.
Marketing
Internet offers numerous marketing opportunities at a reduced price. Social media, for instance, provides free marketing and brand building. Such technology guarantees a competitive edge for startups and businesses targeting a specific audience.
Changes in content consumption from traditional media to social media and mobile phones are also favorable technology for business. Traditional advertising platforms like newspapers, television, and radio are expensive. They also do not give you a chance to compete with existing businesses that could have a heavy financial muscle. The marketing data that comes from using the internet will also help you to optimize your resources when marketing. You get a better return on investment when marketing through the Internet.
Automation
Business automation is as a result of technology. Dispensing machines and other outlets serving people as counters are helping businesses to reduce operational costs. Automation helps a business to achieve consistency in the quality of services or goods produced. A factory can also run for longer hours when depending on automation compared to employing people. This enables you to meet your customer needs faster.
Automation is also one of the trends to expect in business. It helps businesses to serve customers at night or in harsh environments at a reduced cost. Automation technology will help a business to enlarge its margin, making their operations more profitable.
Artificial Intelligence
The future of business technology is artificial intelligence. The technology allows a machine or program to determine the next course of action based on available data. For instance, the education sector is using artificial intelligence to direct students on the content to use for each stage of study. Businesses are using artificial intelligence to understand their customers, serve them faster, and provide individualized packages.
Artificial intelligence technology is taking away some of the mundane functions from ordinary workers. It reduces workload, leaving employees to attend to the creative bits or work. In the process, it eliminates fatigue while helping businesses to serve their customers better.
Data collection
All technology points provide a data collection port. From apps to AI driven operations, technology is providing businesses with crucial data about their operations. Internet technology, for example, will provide data on the people visiting your website, their age, most requested goods, and their activity on your website.
Data is crucial for business operations. It helps you to determine whether or not you are getting value for money. It also enables you to allocate resources prudently based on the most profitable channels. The data collected will give you an idea of the health of your business.
Remote work
Technology will help businesses to optimize their workforce by providing remote work opportunities. Remote work allows workers to continue serving the businesses without reporting to a physical office. This reduces expenditure on physical spaces while allowing a business to tap into global talent that is not necessarily available in your neighborhood.
Some of the remote work technologies for business include
●Workflow Management Apps
The apps help managers to track the progress of different tasks through a dashboard. Employees can upload documents and fill data on assignments and milestones set. Despite the team being away from the office, assignment deadlines will still be met.
●Conferencing Call Software
Meetings are a crucial part of managing any business. When people are working in the field or remotely, they will need to stay in touch. Conference calls enable them to catch up, collaborate on projects, and update the team on progress made on different tasks.
●Collaboration Tools
Collaboration tools are designed to simplify group tasks. They include conference call software and apps that come with additional features like uploading documents and sharing screens. Others allow the team to build an online database from where everyone can extract documents. Group work will continue despite the team being apart.
Such remote work tools will help businesses to optimize their operations. It reduces expenses on physical spaces while allowing them to engage the most skilled personnel. Businesses and organizations will maintain brand culture despite engaging professionals from different counties, states, and nationalities.
International reach
All businesses are looking forward to grow to the extent of expanding to other states, countries, and continents. Technology is the easiest and cheapest way to expand your brand beyond your locality. Social media gives you an international reach. Digital marketing platforms also give you a chance to reach an international audience at a lower cost compared to traveling or setting up agencies in these countries.
Technology is helping businesses to optimize their operations. From human resource to financial management, marketing, and collaboration, the future of businesses is in technology. With the advent of AI, data generated through technology will help businesses to plan their operations and resources more efficiently.
Online Threat Alerts Security Tips
Pay the safest way
Credit cards are the safest way to pay for online purchases because you can dispute the charges if you never get the goods or services or if the offer was misrepresented. Federal law limits your liability to $50 if someone makes unauthorized charges to your account, and most credit card issuers will remove them completely if you report the problem promptly.
Guard your personal information
In any transaction you conduct, make sure to check with your state or local consumer protection agency and the Better Business Bureau (BBB) to see if the seller, charity, company, or organization is credible. Be especially wary if the entity is unfamiliar to you. Always call the number found on a website’s contact information to make sure the number legitimately belongs to the entity you are dealing with.
Be careful of the information you share
Never give out your codes, passwords or personal information, unless you are sure of who you're dealing with
Know who you’re dealing with
Crooks pretending to be from companies you do business with may call or send an email, claiming they need to verify your personal information. Don’t provide your credit card or bank account number unless you are actually paying for something and know who you are sending payment to. Your social security number should not be necessary unless you are applying for credit. Be especially suspicious if someone claiming to be from a company with whom you have an account asks for information that the business already has.
Check your accounts
Regularly check your account transactions and report any suspicious or unauthorised transactions.
Don’t believe promises of easy money
If someone claims that you can earn money with little or no work, get a loan or credit card even if you have bad credit, or make money on an investment with little or no risk, it’s probably a scam. Oftentimes, offers that seem too good to be true, actually are too good to be true.
Do not open email from people you don’t know
If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.
Think before you click
If an email or text message looks suspicious, don’t open any attachments or click on the links.
Verify urgent requests or unsolicited emails, messages or phone calls before you respond
If you receive a message or a phone call asking for immediate action and don't know the sender, it could be a phishing message.
Be careful with links and new website addresses
Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.
Secure your personal information
Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.
Stay informed on the latest cyber threats
Keep yourself up to date on current scams by visiting this website daily.
Use Strong Passwords
Strong passwords are critical to online security.
Keep your software up to date and maintain preventative software programs
Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.
Update the operating systems on your electronic devices
Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks. Read the CISA security tip on Understanding Patches and Software Updates for more information.
What if You Got Scammed?
Stop Contact With The Scammer
Hang up the phone. Do not reply to emails, messages, or letters that the scammer sends. Do not make any more payments to the scammer. Beware of additional scammers who may contact you claiming they can help you get your lost money back.
Secure Your Finances
- Report potentially compromised bank account, credit or debit card information to your financial institution(s) immediately. They may be able to cancel or reverse fraudulent transactions.
- Notify the three major credit bureaus. They can add a fraud alert to warn potential credit grantors that you may be a victim of identity theft. You may also want to consider placing a free security freeze on your credit report. Doing so prevents lenders and others from accessing your credit report entirely, which will prevent them from extending credit:
- Equifax
- Experian
- TransUnion
Check Your Computer
If your computer was accessed or otherwise affected by a scam, check to make sure that your anti-virus is up-to-date and running and that your system is free of malware and keylogging software. You may also need to seek the help of a computer repair company. Consider utilizing the Better Business Bureau’s website to find a reputable company.
Change Your Account Passwords
Update your bank, credit card, social media, and email account passwords to try to limit further unauthorized access. Make sure to choose strong passwords when changing account passwords.
Report The Scam
Reporting helps protect others. While agencies can’t always track down perpetrators of crimes against scammers, they can utilize the information gathered to record patterns of abuse which may lead to action being taken against a company or industry.
Report your issue to the following agencies based on the nature of the scam:
- Local Law Enforcement: Consumers are encouraged to report scams to their local police department or sheriff’s office, especially if you lost money or property or had your identity compromised.
- Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
- Identitytheft.gov: If someone is using your personal information, like your Social Security, credit card, or bank account number, to open new accounts, make purchases, or get a tax refund, report it at www.identitytheft.gov. This federal government site will also help you create your Identity Theft Report and a personal recovery plan based on your situation. Questions can be directed to 877-ID THEFT.
How To Recognize a Phishing Scam
Scammers use email or text messages to try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could get access to your email, bank, or other accounts. Or they could sell your information to other scammers. Scammers launch thousands of phishing attacks like these every day — and they’re often successful.
Scammers often update their tactics to keep up with the latest news or trends, but here are some common tactics used in phishing emails or text messages:
Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. You might get an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company. Or maybe it’s from an online payment website or app. The message could be from a scammer, who might
- say they’ve noticed some suspicious activity or log-in attempts — they haven’t
- claim there’s a problem with your account or your payment information — there isn’t
- say you need to confirm some personal or financial information — you don’t
- include an invoice you don’t recognize — it’s fake
- want you to click on a link to make a payment — but the link has malware
- say you’re eligible to register for a government refund — it’s a scam
- offer a coupon for free stuff — it’s not real
About Online Threat Alerts (OTA)
Online Threat Alerts or OTA is an anti-cybercrime community that started in 2012. OTA alerts the public to cyber crimes and other web threats.
By alerting the public, we have prevented a lot of online users from getting scammed or becoming victims of cybercrimes.
With the ever-increasing number of people going online, it important to have a community like OTA that continuously alerts or protects those same people from cyber-criminals, scammers and hackers, who are every day finding new ways of carrying out their malicious activities.
Online users can help by reporting suspicious or malicious messages or websites to OTA. And, if they want to determine if a message or website is a threat or scam, they can use OTA's search engine to search for the website or parts of the message for information.
Help maintain Online Threat Alerts (OTA).