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CoreTech Blog

CoreTech has been serving the Bowling Green area since 2006, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

CoreTech has been serving the Bowling Green area since 2006, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

How Do Hackers Use AI?

How Hackers Use AI

Artificial intelligence has been a key ingredient in propelling businesses forward—creating better customer engagement, cutting response times, providing client-specific solutions, and more. But hackers have also had access to the same innovative technology: AI. While businesses use it to improve their operations, hackers have also been busy using AI technology to advance their illicit activities. 

 

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What Is BDR and How Does It Impact Business?

what Is BDR

Businesses these days conduct most of their processes digitally. On one hand, this is great because it speeds up transactions, improves data accuracy, and so on, allowing for faster and more efficient IT business development. But the heavy reliance on digital data brings new risks of data loss or damage. All businesses should have a good backup and disaster recovery plan to lessen these risks. We will explain to you what is BDR and how it impacts businesses. 

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The Top 5 Ways Cybercriminals Use Social Engineering

Cybercriminals Use Social Engineering

Advanced technology and cutting-edge hacking techniques have been the main tool that cybercriminals use for online attacks. But did you know that the most effective method that hackers use for enticing victims online is something so much simpler? Cybercriminals use social engineering or in other words, manipulate people by establishing trust and playing on their emotions.

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Protect Your Business from Phishing Attacks

Phishing

Phishing is a severe issue that is becoming worse. Hackers continue to improve their ways even as IT professionals work to develop more effective defenses against online attacks. What should a business owner do? Is it possible to defend your company against these increasingly damaging phishing attacks? Thankfully, there is, and that is what we will discuss today.

It is crucial to have a current security system in place to protect your data and apps. You require a solid firewall, up-to-date antivirus software, a thorough disaster recovery plan, and other security measures. More than this, you can take advantage of the many other highly efficient methods for safeguarding your company from phishing attempts, such as the ones listed below.

Password Policy

A password protects your sensitive data from the spying eyes of hackers. Passwords must be unique and challenging to break. When a user needs to create a new password, impose some restrictions. And change the passwords frequently to remain safe.

It's best to create secure passwords randomly using a mix of capital and lowercase letters, numbers, and special characters. The ones that use the user's genuine name, birthday, or other publicly available information that can be simple for anyone to figure out are the worst.

Consistent Staff Training

The secret to your data's security rests in the hands of your staff. Hackers use phishing emails and other communication channels to find a way into your business. A small error could have serious repercussions, including data loss and disruption of corporate operations. If your company regularly trains personnel in cybersecurity best practices, you have an improved chance of preventing such incidents. You can evaluate their understanding of what they learned by having them complete this Employee Readiness Check after each training session.

Device Security on Mobile

Online hazards have increased as remote employment has grown in popularity. Employees put data at risk by accessing it on their laptops, smartphones, or other mobile devices. To help prevent these threats, implementing strict mobile security regulations and effective mobile device management is essential.

Frequently Updated Software

Even the best security programs require periodic updates to remain effective against recent threats. Check to see if your system has the most recent security fixes available.

Superior Security

Many companies avoid using professional cybersecurity services because they believe they are just another unneeded expense and would like to use their own, less expensive security measures. While maintaining a budget is crucial, we always recommend that you invest in a trustworthy cybersecurity solution to protect your company from phishing and several other types of cyber threats.

We can put all these procedures into action for your company as a trustworthy managed service provider that has assisted companies of all sizes for years. Get in touch with us if you wish to strengthen your protection against phishing and other online risks. As a good start to your new Employee Training, have everyone in your office watch our Free Cybersecurity Webinar. We'll be pleased to provide you with a free consultation, so call us today!

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Employee Awareness Is Your Best Security

Employee Awareness Is Your Best Security

For business communication security, employee awareness is your first line of defense. The more your staff know about the risks, the better prepared they are to deal with potential attacks and the safer your business will be. Unfortunately, recent studies have shown that more than half of employees today lack training in online security. For a business owner like yourself, this can be a frightening idea. Such a lack of awareness and training poses a grave danger to your business should you become the target of an online attack.

Check Your Employees’ Level of Awareness

But don't fret just yet. Maybe your staff knows more about online safety than typical employees. To find out where their security knowledge is, have them take this Employee Readiness Check offered by us. This quiz that we have created will gauge how prepared employees are if a cyberattack happens. If they pass with flying colors, then good for you! Your business has a strong defense against online attacks!

Sadly, it is more likely that they will score lower than you expect. The statistics don't lie. The quiz will show that most employees cannot identify a phishing email if it hits them in the face!

Train Your Employees on Recognizing a Phishing Threat

Phishing is an online threat to communication security. Hackers attempt to steal data by posing as legitimate entities. The concept sounds too simplistic to work, but it would surprise you how effective it is at tricking unsuspecting employees. With a successful phishing attack, cybercriminals can gather sensitive information like your bank details, client databases, and passwords.

To help prevent phishing attacks from succeeding, you must train your employees to practice caution and take the following steps when using the company’s communication system.

Examine email addresses.

Phishing addresses look like the real deal, but to be proactive with your employee awareness pay close attention. What should have been a ".com" might be a ".co".

Hover over the links to verify.

For better employee awareness, before clicking on any link sent through email, texts, or social messaging, hover over it to see the URL. If it is not something that looks familiar, it is better to not click than risk the danger.

Check for errors in spelling and grammar.

These are common telltale signs of a phishing email. Official correspondence from reputable entities gets proofread and spell-checked before being sent out. Messages rife with mistakes are most likely the work of hackers trying to get into your system.

Ignore emails that ask for passwords.

Be aware that a trusted company will not request your password or other personal information through email messages. If you get a message that asks for such, it is best to ignore or block it.

With the volume of emails that employees receive daily, plus all the other tasks they must do in the workplace. It is easy to become complacent with communication security which is why employee awareness plays a vital role in your company. Hence, you must train your employees regularly and give them pop quizzes from time to time by sending them harmless "phishing emails" to see if they can deal with these kinds of threats properly.

Our team provides top-quality employee training for communication security and online safety. Don't leave your company's safety to chance. Call us today! We will help build a strong line of defense to protect your business from losing data.

There is a free eBook available for download that covers many of the issues you could face while collaborating with a managed service provider. It's available for i

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Employee Awareness Is Your Best Security

For business communication security, employee awareness is your first line of defense. The more your staff know about the risks, the better prepared they are to deal with potential attacks and the safer your business will be. Unfortunately, recent studies have shown that more than half of employees today lack training in online security. For a business owner like yourself, this can be a frightening idea. Such a lack of awareness and training poses a grave danger to your business should you become the target of an online attack.

Check Your Employees’ Level of Awareness

But don't fret just yet. Maybe your staff knows more about online safety than typical employees. To find out where their security knowledge is, have them take this Employee Readiness Check offered by us. This quiz that we have created will gauge how prepared employees are if a cyberattack happens. If they pass with flying colors, then good for you! Your business has a strong defense against online attacks!

Sadly, it is more likely that they will score lower than you expect. The statistics don't lie. The quiz will show that most employees cannot identify a phishing email if it hits them in the face!

Train Your Employees on Recognizing a Phishing Threat

Phishing is an online threat to communication security. Hackers attempt to steal data by posing as legitimate entities. The concept sounds too simplistic to work, but it would surprise you how effective it is at tricking unsuspecting employees. With a successful phishing attack, cybercriminals can gather sensitive information like your bank details, client databases, and passwords.

To help prevent phishing attacks from succeeding, you must train your employees to practice caution and take the following steps when using the company’s communication system.

Examine email addresses.

Phishing addresses look like the real deal, but to be proactive with your employee awareness pay close attention. What should have been a ".com" might be a ".co".

Hover over the links to verify.

For better employee awareness, before clicking on any link sent through email, texts, or social messaging, hover over it to see the URL. If it is not something that looks familiar, it is better to not click than risk the danger.

Check for errors in spelling and grammar.

These are common telltale signs of a phishing email. Official correspondence from reputable entities gets proofread and spell-checked before being sent out. Messages rife with mistakes are most likely the work of hackers trying to get into your system.

Ignore emails that ask for passwords.

Be aware that a trusted company will not request your password or other personal information through email messages. If you get a message that asks for such, it is best to ignore or block it.

With the volume of emails that employees receive daily, plus all the other tasks they must do in the workplace. It is easy to become complacent with communication security which is why employee awareness plays a vital role in your company. Hence, you must train your employees regularly and give them pop quizzes from time to time by sending them harmless "phishing emails" to see if they can deal with these kinds of threats properly.

Our team provides top-quality employee training for communication security and online safety. Don't leave your company's safety to chance. Call us today! We will help build a strong line of defense to protect your business from losing data.

There is a free eBook available for download that covers many of the issues you could face while collaborating with a managed service provider. It's available for immediate download.

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Lowering Your Cybersecurity Insurance Premiums

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Currently where online crime is rampant, it has become critical to have a reliable cybersecurity insurance plan. This layer of protection is especially true for small businesses that mainly operate in an online environment. Insurance will provide considerable financial protection in the event of an online attack.

While most business owners understand its importance, many still opt not to purchase cybersecurity insurance. Why? It's because the premiums can get high. Many believe the risk isn't enough to justify spending thousands of dollars on coverage. If you are lucky, then you probably won't become a victim. But it's not smart to wish for luck to keep you safe, especially when you realize how much damage a single attack can incur.

Is Cybersecurity Insurance Expensive?

The steep cost of cybersecurity insurance is understandable because of the very high perceived risk. Online crime has become not just more prevalent but also much more complex. The damage is extensive, and insurance companies have no choice but to raise their premiums to keep offering complete coverage.

Another reason for the high premiums is the massive payouts that companies pay out because of data breaches. Businesses that collect sensitive data, like healthcare and banking, have even higher premiums. These companies are prime targets for hackers and therefore have a higher risk factor.

How to Qualify for Lower Cybersecurity Insurance Premiums

Now we get to how to lower your insurance premiums. The fee reduction is much simpler than other insurance, like healthcare or vehicles. Usually, you need to tick a box on the form or sign a waiver. With cybersecurity insurance, it's not so straightforward. But not to worry. There are ways to reduce the premiums you need to pay.

Do an Annual Penetration Test

This test will check how robust your security measures are to protect your business from a cyberattack. You can do this test yourself, but we recommend you partner with a managed services provider for this task. With this test, you can identify your system's weak points to improve them. Insurance companies will see that you are not at risk and list you for a lower premium.

Choose Secure Passwords

This task might seem basic, but insurance companies check the password control policy when assessing applicants. A more secure policy will entitle you to lower premiums, as will a two-factor authorization, or 2FA, login policy. You should also train your employees to choose their passwords wisely. An employee readiness check will reveal how much your staff knows about the importance of passwords and other security issues.

Do Data Encryption

Again, this is something that most companies already do these days. Encrypting confidential and sensitive data is vital for protection. You can improve your data encryption methods considerably with the help of a managed services provider.

Use Your Current Insurance Provider

If you already have an insurance provider for general business liability insurance or property insurance, you can purchase your cybersecurity insurance from them if they offer it. There's a good chance that you can get a discount from a bundle deal.

Get Peace of Mind with Reliable and Affordable Cybersecurity Insurance

Getting your business insured will surely give you peace of mind in a world riddled with online crime. But you don't always have to pay top dollar for the best coverage. Following the strategies above and learning the tips discussed in our eBook, you can get great insurance with affordable premiums. Our cybersecurity experts can help you with a risk assessment and finding the best insurance coverage that matches your needs.

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Small Business Cybersecurity Risks

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Digital technology continues to evolve which can result in cybersecurity risks. The good news is these changes bring a multitude of new ways that businesses can grow. But along with these developments, there are also the growing risks of online threats. No matter how you try to protect yourself, there will always be a prevailing danger every time you enter the online environment. Even large multinational corporations sometimes become victims of cyber-attacks. So, it is no challenge to breach small businesses and cause cybersecurity risks.


Addressing Inadequate Security Measures

The good news is those small businesses are not helpless despite the alarming rise in the volume and severity of cyber-attacks in recent years. We can apply several easy but effective steps to mitigate cybersecurity risks. If you look at the most common reasons businesses fall victim to online attacks, it almost always boils down to poor security measures.


For instance, many employees still use weak passwords and have not received training on internet security measures. Many companies use old verification systems or simple authentication methods, leaving their data vulnerable to online attackers.


These are issues that even small businesses can address using an up-to-date cybersecurity strategy. If you don't have the means to implement this kind of protection, you can always enlist the services of a managed service provider specializing in cybersecurity solutions. We'll tell you more about this at the end of this blog.


How to Bolster Online Security

If your business gets infiltrated by hackers, it can cost a lot in different aspects. You can lose customers, lose revenue, and experience slow operations. It might even force you to shut down your business in case of customer or vendor data loss. To avoid this trouble, you can take some simple steps right now to bolster online security and prevent online attacks from ruining your business.


Train Your Employees

Most hackers do not directly attack a company's database or network but go through the weakest path of entry: the employees. Seemingly harmless emails and links might be traps set up by online criminals to get into your system. Every employee must be wary of these suspicious links and know-how to identify possible online threats in various forms.


Update Your System

Technology changes rapidly. The system that once gave you ironclad protection may now be a flimsy wall of defense. Once you miss an update to your system, your entire business will become vulnerable to new malware that hackers have recently developed. It is therefore critical to ensure that your security is always up to date.


Have a Reliable Backup and Recovery Plan

Despite all your protective measures to mitigate cybersecurity risks, you can't be 100% always protected. Therefore, it is vital to have a reliable backup system and quick recovery plan to bring your system back in order in case of an attack. A managed services provider can help you set up a recovery strategy to minimize your losses and get you back into regular operation as soon as possible.


Partnering with an MSP Can Significantly Reduce Your Cybersecurity Risks

Cybersecurity threats will always exist, but there are plenty of ways to defend your business against these threats, like partnering with a dependable Managed Service Provider. In our eBook, "The Ultimate Guide to Finding and Hiring a Superstar IT Solutions Provider for Businesses," we discuss how an MSP can help you get maximum protection for your business. Send us a message if you want to learn more!

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Understanding a Dependable Cybersecurity Insurance Policy

July-Week-2

By now, most businesses are aware of the cybersecurity dangers that lurk on the internet. But despite the awareness, many companies still fall prey to all sorts of online attacks. Some victims are even large, multinational corporations that you would think would have a bulletproof security system in place.

The thing is that hackers are continuously innovating the ways they attack us. By developing new means of breaching security, they can get their hands on our data. It is also likely that many of us are just not as prepared as we think. In any case, one action we can take to minimize damage and recover faster is to have a dependable cybersecurity insurance program.

What is Cybersecurity Insurance?

Cybersecurity insurance is a specific type of insurance to minimize financial risk due to online attacks. It won't, unfortunately, make you immune to attacks. However, a reliable policy will absorb considerable damage, helping you recover more lost assets.

The internet has been around for some time, but cybersecurity is still a relatively new problem. Policymakers constantly analyze the changing online environment to offer the best insurance programs. Likewise, businesses need to be very discriminating in choosing a policy that gives them the quality and level of protection they need.

Is Cybersecurity Insurance Vital for Businesses?

Data loss or damage can have dire consequences for a business. It can lead to the shutdown of operations and ultimately cause massive losses in earnings. The inconvenience might cause clients to take their business elsewhere. It can even leave you with expensive legal liabilities.

Cybersecurity insurance can keep businesses protected in the event of cyber attacks. Specifically, a good insurance policy will cover a wide range of online threats, including terrorist attacks. If your business becomes the target of an attack and a data breach happens, your cybersecurity insurance can cover expenses related to remediation.

Many insurance policies also include coverage for notification expenses. If a security breach happens, businesses are required by law to notify all clients and to conform to many post-breach requirements. These procedures can be costly and add more expenses to your business, which is already suffering the effects of a cyber attack. Adding this coverage to your insurance plan gives you one less thing to worry about.

Be Better Protected Against Cyber Attacks

As you can see, one critical step is finding a reliable cybersecurity insurance company as soon as possible. You never know when a breach might occur, so it's best to have protection now. If you want to know where and how to find a good insurance program, you will find some helpful tips in our eBook, The Ultimate Guide to Finding and Hiring a Superstar IT Solutions Provider for Businesses.

It's always better to prevent the problem and not fixing it after it has happened. The best way to do this is to ensure that your employees get trained to circumvent attacks. You might think they would know not to open certain emails or click on certain links, but you might be wrong.

You can assess your staff is when it comes to online attacks by having them take an employee readiness check. Keep in mind that awareness is your first defense against these threats. Combine that with an ironclad cybersecurity insurance plan, and your business will be ready to take on the digital world. If you have any questions, give us a call!

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Why are Cybersecurity Insurance Claims Rising?

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Cybersecurity insurance protects businesses in the event of online attacks. Insurance providers can absorb a considerable amount of the impact, allowing companies to recover faster and get back on track after experiencing a cyber breach. Recent data shows an alarming rise in the cybersecurity claims made by businesses across various industries around the world. Let's try to figure out why this is happening.

The Upsurge of Cyber Claims for Cybersecurity Insurance

With continuous and rapid technological developments, online threats have also advanced considerably. Social engineering and ransomware attacks have risen dramatically. As a business owner, you must understand what has been happening to protect your company from impending threats.

Pandemic-Related Threats

The world might be recovering from the pandemic, but the coronavirus has put us at risks beyond physical health. Millions of people have shifted to a work-from-home arrangement, which helped stop the spreading of the COVID-19 virus. However, the remote setup made it easier for cybercriminals to do their job. During the pandemic, most people were online most of the day, either for work, for school, or stuck at home with nothing else to do. As the remote population ballooned, so did the number of unprotected home-based employees. The companies they worked for became much more vulnerable to disastrous attacks.

A New Approach to Ransomware Involving Cybersecurity Insurance

Ransomware is a type of malware that makes a network inaccessible until the victim pays a ransom. Initially, hackers targeted individual users and small companies with this malicious software. But recently, they have realized that they could earn more from big corporations willing and capable of paying any ransom amount. Some hackers have shifted their focus to providing ransomware as a service or RaaS to users who wish to launch an attack but do not have the know-how. With easier access, it's no surprise that more businesses and individuals are becoming victims and filing claims with their cybersecurity insurance providers.

Social Engineering Strategies

Many current cybersecurity claims stem from these new social engineering attacks. These attacks come in many forms, such as phishing, baiting, scareware, pretexting, and many more. It's interesting how social engineering tactics produce so many victims when it is one of the easiest cyberattacks to identify and avoid.

Can You Lower the Incidence of Cyber Claims?

Let us be clear that all businesses need a sound cybersecurity insurance policy. Good insurance coverage will give you the protection and assistance you need in case of a cyberattack on your business. Everyone would like not to be a victim of an online attack, but that's not today's reality. As a business owner, you need to train everyone in your organization to identify and thwart an attack before it happens. You should regularly test your employees with this Employees Readiness Check. You might be shocked at the results. For more about cybersecurity insurance, online safety strategies, and employee training, check out our eBook entitled The Ultimate Guide to Finding and Hiring a Superstar IT Solutions Provider for Businesses and learn tons of valuable tips on how to keep your business protected. If you have any other concerns about cybersecurity insurance please give us a call!

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Boost Your Business Performance with MSP Services

MSPs-For-Your-Business---3

Business Performance

Every business owner wants to achieve continued success for their business. Several processes and tasks need to be taken care of in creating and maintaining a successful business. Most owners cannot handle these because there is too much to do and not enough time. For this reason, many business owners rely on the services of IT managed service providers, or MSPs.

 

If you're a regular reader of our blogs, you'll remember that we have covered some of the most valuable services MSPs can provide for your business. Here is a quick look back at those services and how they can boost your overall business performance.

Quarterly Business Reviews

Quarterly business reviews, or QBRs, give a thorough and accurate assessment of your business performance over the last three months. While you can conduct your QBR, it is much better to relegate the job to an MSP, who will give a completely unbiased review of your business. The QBR lets you know the areas where your business needs improvement and which ones are doing well.

Technology Business Consulting

If you find it hard to understand IT processes at work or are clueless when solving IT-related problems, join the club! Most business owners are not IT experts, but the technology business consulting services offered by MSPs can be very helpful in giving you at least a solid understanding of the basic concepts and functions needed to run your business.

Technology Hardware Programs

Like the previous service, technology hardware programs are helpful for non-techy business owners. You no longer need to confuse yourself by figuring out which hardware to use. Your MSP will recommend and help you choose the best equipment that meets your needs.

Vendor Management

If you work with suppliers of products or services regularly, vendor management services can be very beneficial. Efficient vendor management will lead to a better professional relationship with your vendors and reduce overall expenses by speeding up the onboarding process and guaranteeing that they complete all deliveries on time.

Operating Environment

Smooth and organized operations are crucial to the success of a business, both on a day-to-day basis and in the long term. With an MSP ensuring that your operating environment is seamless, you can enjoy benefits like full coordination between multiple locations, adequate bandwidth for all business processes, and being updated with current technology trends.

Business Phone System

When your MSP sets up your modern business phone system, you can enjoy benefits like integrating several phone functions, cost efficiency, and scalability. The phone systems that are available today also have built-in functions to protect privacy, increase data security, and broaden access for your clients and business partners.

Cloud Computing

We have repeatedly stated how the cloud network has proven to be instrumental in the growth of many businesses, and we will repeat it here. For a very reasonable monthly fee, the cloud gives you access to advanced business tools that you would otherwise have to spend hundreds of dollars on. It also gives you unlimited storage space for all your business data and programs, which makes it easier for you to grow. Cloud computing also increases the productivity of your employees and minimizes system downtimes that disrupt business operations.

Security

Network and data security are crucial to businesses now more than ever when online threats are so rampant. One slip and you might inadvertently expose your business to serious security risks. On your own, all you can do is install an antivirus program and implement basic security precautions. But with the help of an MSP, you can safeguard your business in its entirety, and your network and data are secure.

Business Budgeting and Planning

It might seem unnecessary to use IT resources for something as basic as budgeting, but these days, even this fundamental business procedure has become quite complicated. With the prevalence of hidden costs almost everywhere you look, you will need to monitor your business spending to ensure that you don't spend more than you should. Our hidden costs calculator can help reveal these unnecessary expenses so you will avoid them in the future.

Final Thoughts

When you look at these tasks individually, you will probably be able to accomplish them well on your own. However, you can't just pick one or two of these processes. You'll have to do every single one of them. How can you do that yet still have time to run your business?

 

We can provide all these business services and so much more. If you want to learn more, call us to discuss in greater detail just how we can help boost the performance of your business. To make sure you are using an MSP that works best for you, we are offering you an on-demand webinar where we talk about choosing the best managed service provider. Click HERE to listen to this important information and let us know if we can assist you in any way.

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Understanding the Technology That Runs Your Business

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No matter what kind of business you run or what industry you are in, we all know that technology is crucial to our success. Using the right technology can put your business on the path toward growth and success. And a lack of proper IT tools and strategies could make you fall behind your rivals and lose considerable profits.

Practical Applications of Technology for the Modern Business

Most business owners understand that a reliable IT system is necessary for network security. Internal and external communications, database management, and other high-priority areas. But IT is also valuable in improving practically all aspects of your business. Let's look at the following not-so-typical applications.

Onboarding

In most companies, onboarding is the transition process your new employees go through right after they come aboard. This process can take a lot of time. Through technology, you can speed up the onboarding process by using paperless forms, digital introductions, and online training, allowing your new employee to adjust quickly and work with minimal delays.

Offboarding

Similarly, when an employee leaves the company, there is an offboarding process for efficiently managing their exit to reduce business risk and workflow disruption. Manual employee offboarding is the traditional method, but we have already shown this to be risky and tedious. With the help of technology, you can increase the speed and efficiency of the entire process while also strengthening the security of your business.

Cloud Computing

The cloud platform is a very cost-effective alternative to traditional business solutions. By transferring a portion of your operations onto the cloud, you can save funds you might otherwise spend on physical hardware. In addition, you will also enjoy better resource management, increased efficiency, and portability of business operations.

Business Automation

By automating business processes like data collection, billing, and monitoring, you can relieve your staff of these tasks and let them concentrate on their duties. Using technology frees up time for your employees and reduces business costs.

Information Security

Online threats are continuously becoming more rampant in this digital age. Employing the right IT strategies for security is crucial to keeping your data and your network safe. It also protects the confidentiality of your business information and the privacy of your employees.

Remote Work

Technology allows people to work from remote locations and deliver high-quality performance without being physically present at the workplace. This benefit has been helpful in the last couple of years. Also, remote work gives businesses easy, fast and convenient access to experts from any part of the world.

Business Expansion

There are a lot of tasks to take care of during business expansion, like scouting for a new location. Canvassing for new suppliers, hiring new employees, purchasing new equipment, and so on. By using technology, these procedures can be simplified and made more organized.

Ways to Keep Your Business Updated with the Latest Technology

Having the right technology for efficiently running your business is essential, but not enough. Keep your business updated with the latest IT solutions as time passes. Technology changes rapidly, so you need to keep up with it to stay ahead of the competition. Here are some of the best ways you can keep your business updated.

Being Proactive

As opposed to being reactive, being proactive means being able to expect new IT developments and plan for these changes accordingly. Instead of solving a technical problem when it happens, you should be able to predict it and already have the necessary IT solutions in place before it even arrives.

Partner with an MSP

Since most small businesses can't stay on top of technology on their own, the practical solution is to work with an MSP, or managed service provider. A good MSP will keep your technology updated for you. Choosing the right MSP helps your business keep up with technology and provides many other services for the growth of your business. If you need and help with new technology, or if you’re ready for upgrading your old equipment, we are here to help you. It’s our job to make sure your business operates as smoothly as possible. To make sure you are using an MSP that works best for you, we are offering you an on-demand webinar where we talk about choosing the best managed service provider. Click HERE to listen to the webinar and let us know if we can assist you in any way.

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Do You Know Your Business ROI?

Return on Investment

Business ROI, or return on investment, is a tool used to measure the profitability of your business based on your various costs and the profits generated by these investments. The performance of the business ROI can also have an assortment of implications on the different aspects of your business. 

A positive ROI indicates that an investment has delivered welcome profits. But it's more than just a metric used to monitor the feasibility of your business investments. By maintaining a solid ROI, you are also creating positive effects on your total cost of ownership, R & D, job security, business continuity, and many more. 

It Provides a Financial Metric

The primary function of a business ROI is to provide a means to measure the success of your business per investment made. It lets you gauge how well or how poorly you are doing, letting you know which to keep and which to drop. For instance, an investment with a decidedly positive business ROI is worth keeping, while you should avoid an investment that shows a negative ROI at all costs. It also lets you compare different profitable assets to find the best choices. 

What is TCO?

The total cost of ownership, or TCO, is the sum of the purchase price and the operating costs of an asset over its lifetime. As your ROI grows, your total cost of ownership on your various assets also increases. 

More Access to Resources for Innovation

The more your business earns, the more accessible resources become. Once you can set up your business plans and strategies to generate a good business ROI, you will have started a dependable cycle of profits that will provide you with funds for research and development. 

Reduce Investment Losses

Thorough planning is crucial each time you make any kind of investment. Study the feasibility of each business investment to increase the chances of getting a good business ROI. There will always be a risk because you never really know if an investment will give you good returns or not, but with careful thought and planning, you can stick to those investments that are more likely to generate positive results. 

Job Security

One of the contributing factors to excellent business returns is the performance of its workforce. If your employees are delivering results, there won't be any reason for you to downsize or shuffle your workforce. Thus, a higher business ROI increases the job security of your employees and may even give them better benefits and perks.

Competitive Advantage

In any industry, it is among the primary goals of a business to have a competitive advantage over its rivals. Maintaining a good return on investment gives you an advantage and makes you more attractive to potential clients when compared to your competitors. These days, potential clients and customers don't just look at the product or service you offer. They also examine the internal components of your business, which is why having a favorable business ROI will be an advantage.

An MSP Can Help Boost Your Returns

Exerting considerable focus and effort towards improving your business ROI is very worthwhile because, as you can see, it can affect several areas of your business. Improving your returns does not only mean getting higher revenue. It also has a lot of positive implications for your business, your employees, and your clients. 

One way of ensuring that you get a good business ROI from your investments is by working with a trusted managed service provider. Your MSP can provide multiple tools and strategies to keep you on track to achieving your goals and generating profits.

For some extra help, we have prepared a comprehensive on-demand webinar that clearly illustrates what could happen to your business if you do not have a managed service provider by your side, as well as the multiple negative impacts this can have on your employees and your clients. 

Conclusion

If you want to learn more about how an MSP can help improve your business ROI, contact us and we will be happy to discuss how our services can help boost your returns and your overall business performance. 

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5 Reasons Why Planning Business Growth Matters

When starting a business, it is only natural for the business owner to dream of success and growth for their new venture. But having a dream is not enough. There also needs to be a strategic business plan to ensure that the business will thrive. Unfortunately, many small business owners have the mindset that planning is only for large companies. Some of them don't think that learning business planning skills is necessary. They don't realize that planning for growth is one of the most important things you should do for your business. Here are five tips to help you build your business plan.

Good Plans Lead to Good Business Decisions

From the moment you start your business, and every day after, there will be decisions to make, both big and small. Often, you will make these decisions on the spur of the moment, without the opportunity to sit down and carefully examine the pros and cons of each one. If you do not plan for this, it's easy to make the wrong choices. This mistake is especially true if your business is expanding by adding new locations or hiring more employees. But if you have a solid business plan geared towards growth, it will guide you in making wise decisions every time.

Planning Helps in Setting up the Budget

Having a budget plan is essential to keep your business expenses under control. Along with business growth, there will also be a lot of unexpected costs. An efficient budget helps ensure you have sufficient cash flow to keep the business going with the right balance between income and expenses, despite the adjustments you must make. You can’t just go into a business without a clear idea of where your funds are going. Therefore, business planning for cost and budget should consider your present situation and several possible future scenarios.

Avoid Software Licensing Liabilities

Running a business involves the use of different software that requires licenses. Failure to comply with the terms and restrictions of the license can have dire consequences. Therefore, it is crucial to have a plan for software licensing before you purchase any. Most software that businesses use these days is expensive, and that is why you need to budget for it from the beginning and decide which ones you need for your business. This way, you won't have to purchase unnecessary platforms that you won't end up using.

Planning Helps with Change Management

Change is not only inevitable in business but is a sign of growth. When you take on new personnel and expand locations, this will lead to significant changes in your business structure. Without a well-laid-out plan, you can easily get lost amidst all these changes. But if you can implement effective business planning strategies for managing whatever changes might come your way, unexpected events will not catch you off guard. Instead, you will make a seamless transition into the new phase of your business.

Infrastructure Planning Keeps Your Business Updated with Changes

Technology changes quickly. When running a business, you need to be prepared to implement frequent upgrades and updates to your IT infrastructure. Getting left behind by your rivals in the industry will have a negative effect on your business, so you must focus a considerable amount of your business planning on infrastructure changes.

The Role of an MSP in Business Planning for Growth

Nobody knows your business and its objectives better than you do. However, there will be times when you will need expert advice, particularly in areas that are not part of your core competencies. IT, for instance, or financial and legal matters. When you partner with a dependable managed service provider, you will gain an advantage, especially if you have ambitious plans for growing your business. As a managed service provider, we have all the tools and the knowledge for business planning to facilitate a continuous and organized shift toward whatever new direction you are planning for your business. If you want to learn more, please contact us so we can discuss with you the many ways that we can be of service to your business. To find out more about why planning business growth matters, watch this on-demand webinar where Crystal demonstrates the various ways of how a professional MSP take your business to a whole new level of success. Planning Business Growth Planning Business Growth Planning Business Growth Planning Business Growth Planning Business Growth Planning Business Growth Planning Business Growth Planning Business Growth

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How to Interview an IT Provider

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Companies rely on technology for different aspects of their business. From sales and marketing to purchasing and payroll, just about everything is done with online systems. If any of these systems fails, the business flow is disrupted, leading to a loss of customers and profits. This issue is why you must have a reliable IT service provider to fix and prevent such mishaps. Interview and hire the right team.

Awareness of the Red Flags in the IT Industry

Before you start looking for an IT managed service provider, you must learn about the red flags in the IT industry so that you will know which IT companies to avoid. For instance, some companies will nickel and dime you for every little thing or charge you unnecessarily for services you don’t need. Look out for those who communicate poorly or can’t assist you with cybersecurity insurance. You can read more about all these red flags in our Top 5 Red Flags in the IT Industry blog.

Employing an Internal IT Guy vs. using the Break-Fix Method vs. Hiring an MSP

These are the three common ways a business might hire tech support. Each method has its pros and cons, as we’ve discussed in our Your IT Guy vs Managed Provider blog, and you should weigh these pros and cons carefully to figure out the best approach for your business. However, in most cases, hiring an MSP proves to be the most cost-effective and practical way to get high-quality IT support.

Possible Reasons for Firing Your IT Guy

There is a noticeably high rate of premature termination of tech support specialists these days. It’s not necessarily because of lack of skill or competence, but mostly an attitude or lack of professionalism that leaves companies with no choice but to fire their IT guys.

Some are not transparent with their fees, and the client will be surprised to see unexpected charges come due at billing time. Some will communicate with a condescending tone when discussing technical matters, and some will give you poor customer service. In our 5 Reasons Why Companies Fire IT Guys, we talk about these possible reasons and how they can affect your business in a very negative way.

Important Questions to Ask During the Interview

Now that you know the potential problems that can arise with hiring the wrong IT specialist, it is even more important that you find the most suitable person for the job. A lot of it depends on the interview and the questions you ask. Depending on the answers, you should gauge whether the person is worthy of being hired or not.

Customer Service

It is important to know the quality of customer service they can provide if you hire them for your company. Are they easy to contact, and will they get back to you immediately if they are unavailable when you call? Do they offer guarantees of completing tasks on time and budget? Can they explain technical matters in simple language and enable the client to understand what is going on?

Network Upkeep

Find out what kind of service they will provide when it comes to the upkeep of your network. Will they do continuous monitoring of your system and provide regular status reports? Will they have exclusive access to your system, or can they provide your in-house staff access as well? Is their network support plan all-inclusive, or do certain services come with additional fees?

Disaster Recovery

In the event of a data disaster, will they be able to restore the system with minimal downtime? Do they perform regular tests on backup data to ensure that everything has been saved correctly? Do they offer a contingency plan that will allow your business to continue operating even while they restore your system following a disaster?

Providing Support

Do they have the expertise that matches your business needs? Do they provide 24/7 support, or do you need to wait for office hours before getting assistance? Is their support team based in the US, or do they use remote tech specialists in other countries?

Cybersecurity Insurance

Many tech companies do not offer adequate assistance with cybersecurity insurance applications. Ask right away what kind of help they can provide when you apply for cybersecurity insurance. Will they help you get approved, and will they help when you file claims?

These might seem like a lot of questions to ask, but they are necessary if you want to find the best IT managed service provider for your business. In addition to answering your questions, a qualified IT provider must be able to give you a list of references when you ask for them. Once you interview and pick the right candidate, you can avoid stressful problems and focus more on the primary goals of your business when IT issues are off your plate.  Contact us to learn more about how we can help you!

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5 Reasons Why Companies Fire IT Guys

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The IT industry is brimming with so many IT guys and experts with various specialties these days. You would think it's an easy task hiring one for your company. Finding an IT guy is not the problem. Finding a competent, reliable, and affordable IT professional can be challenging for many businesses. When you think you have found the right person, issues start to come up, and you have no choice but to fire them and start the search again. 

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The Top 5 Red Flags in the IT Industry

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All businesses today rely heavily on IT support. Some have their own in-house IT experts, while many others choose to hire managed service providers, or MSPs, to perform specific IT functions for their company. These services are needed to oversee the office hardware and software and stay ahead of the competition. Like all industries, the IT industry has a few red flags that need to be addressed. 

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A Second Look at your Hybrid Workforce

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In the last two years, companies worldwide have transitioned from a traditional office setup towards a hybrid workforce model as a part of a solution to the pandemic situation. While many employees are going back to the office, physical capacity in the workplace is still limited, and many companies need to make adjustments to accommodate everyone. Many businesses are finding that using a hybrid workforce is a solid long-term solution.

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It's time to use Section 179 tax law Deductions

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Time is running out to use the tax deductions available to you with the Section 179 tax law. You have until December 31st if you want to use those deductions this year.

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Upgrade your Business with 179 Tax Deductions

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If your company is upgrading computer software or hardware, now might be the right time to save lots of money for your business. Lots of small and medium-sized business owners will be familiar with some of the available tax deductions. However, as far as Bonus Depreciation and Section 179 tax deduction are concerned, many smaller business owners often believe these to be more complicated. This blog will help you understand how business technology upgrades use Tax 179 deductions.

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Start Fighting Cyber Crime with KNOWLEDGE & ACTION!

 

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Understanding IT

IT can be a complicated thing - trust us, we know. With so much terminology and moving parts to keep track of, there are a lot of concepts that can be tricky to grasp without a little guidance. We’re here to provide this guidance with a few brief guides to key IT topics. Check them out here.

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