November 28, 2020

Future-Proof Your Business With Technology

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In today’s uncertain world, the only constant we can rely on is change–everything is guaranteed to change over time. In the past few months, we have seen changes to the world that nobody could have predicted. 

For businesses, it’s never been more important to embrace change and quickly adapt. A key way to ensure a business is prepared for change is to implement technologies that can better equip the company for uncertain future circumstances. 

 

How Can Technology Help Future-proof A Business?

To put it simply, implementing a range of technologies can help future-proof a business through digital transformation. Whether a startup or a large company, digital transformation can help streamline processes and improve security. 

What is digital transformation? It’s a business trend that has been implemented at scale across a variety of industries. Digital transformation involves integrating digital technologies that help businesses perform more efficiently. 

Reports show that nearly 70 percent of companies are already, or will be, digitally transformed soon. The technologies implemented in digital transformation make a business agile, so when unforeseen changes occur, the business will be ready to adapt.

The impacts of the current global crisis on businesses have proven some companies’ abilities to implement technology to ensure business continuity. The trouble is, many companies have lost valuable time and resources from not having the necessary infrastructure and technology in place prior to the crisis. Companies report that a full digital transformation can take up to a year to implement and 34 percent of employees surveyed about their company’s ability to quickly go remote responded that their company was not prepared.

The other side of this story–market reports and business case studies show–companies with some of the top tech trends in place already had benefited from their digital transformation ahead of these unprecedented times. While it’s been proven that technology can’t protect a business from everything, integrating essential tech today can help prevent future turmoil. 

With the time and monetary investment required to digitally transform any company, it’s imperative that companies start investing now.

 

What Technology Should A Company Implement?

For a startup, it’s likely it can adapt and implement technologies much faster than large companies. Without as many employees to train and processes to adapt, the implementation will be smoother, but a startup may not have the same budget as a large company. 

The key is to decide which areas of the business need the most attention and to implement specific technologies based on those decisions. Some of the top technologies to consider include hyperautomation, multicloud computing and cybersecurity tools. 

 

1. Hyperautomation

Hyperautomation describes the strategic combination of multiple software with robotic process automation to create an enhanced, intelligent process automation system that can control and execute business processes. This software is intelligent, meaning it utilizes machine learning and artificial intelligence to better adapt the way it completes and understands a business process. 

Companies can implement hyperautomation to perform end-to-end business processes. The “bots” that perform tasks will learn the most efficient way to complete the task and continuously collect, read and manage any process that is structured. With robots working around the clock, the data will always be as up to date as possible and the business processes seamless. 

Hyperautomation can be found at the top of trending tech lists, including this one released by Gartner in late 2019. It tops the list because it doesn’t just make business processes more efficient; it can also be used to predict how businesses can be strategically efficient to deliver the most value possible.

Implement hyperautomation in the business to ensure its business processes are efficient, secure and intelligent. This will help the business prepare for and adapt to any outlook the future may hold.

 

2. Multicloud Computing

Multicloud computing is a type of practice for cloud computing that involves splitting data storage and management across multiple cloud storage platforms. This can be done on an individual basis, where a company splits storage options across multiple providers, or the company can decide to utilize a distributed cloud provider, which will strategically distribute the data across multiple data centers within that provider’s possession. 

When it comes to data storage, this is particularly desirable for any company as it promotes data sovereignty since data centers are easily found within a company’s desired country. Not only will the data be more secure distributed across multiple data centers, but it will allow the business to leverage data sovereignty

Additionally, with multicloud computing in place, global service and communication speeds are enhanced, enabling remote work across multiple computers, in many locations. The ability to quickly adapt to an entirely remote workforce has proven itself to be invaluable in the past few months.

 

3. Cybersecurity

The threat of cyber attacks against modern businesses is increasingly relevant. As data breaches and hackers gain unauthorized access to business-critical information, many companies lose millions of dollars each year. 

Given the current environment, distributed and remote workforces are at an extremely increased risk—contributing, in part, to a heightened number of phishing and security threats. To combat these threats and ensure a business is set up for long-term success, consider investing in technology that can enhance your company’s defense strategy. 

Designing a strong cybersecurity strategy begins with a proactive mindset. To reduce threat risk and potential financial loss, equip the team with technology that can prevent cyberattacks before they happen. Initial best practices for this strategy include installing updated antivirus and antispyware software on all devices, implementing a firewall for the internet connection, monitoring software updates, requiring two-factor password authentication, and, of course, providing regular employee cybersecurity training courses. 

A fully functional cyberdefense strategy expands both inside and outside of the office. Particularly in today’s world, employees are working in a variety of unsecure locations, presenting business-sensitive data to a plethora of potential cyber threats. Discouraging the use of personal devices for all work-related tasks ensures cohesive security measures are in place, as personal devices are often not equipped with enterprise-level security. 

This policy should also be enforced for all mobile devices used for work purposes as well. Smartphones and tablets are less secure than computers, despite the fact that many businesses utilize these tools for similar purposes. Cybersecurity strategies should include antivirus, encryption, software updates and vulnerability scanning on mobile devices as well as mobile-specific security awareness training for relevant employees. 

These technologies are just a few examples that can help a company act proactively, and adapt to new work environments while promoting efficiency and productivity. Implementing some, or all, of these technologies can help ensure the company is ready for whatever the future might hold.

The post Future-Proof Your Business With Technology appeared first on Crunchbase.

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Author: Jaclyn Robinson

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