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As technology becomes more integral and complex, many companies have difficulty dealing with it. Often times, companies make multiple mistakes on their path to success, but some mistakes are so damaging that they slow the pace of growth. The situation gets worse when the business is small – small businesses struggle to survive in the early years of their creation. According to the latest statistics, 20% of companies do not survive the first year and 50% the fifth year.
Technical problems occur in almost all companies, but not all companies respond to them efficiently. What if there is a data breach related to private customer data that has been published? Or could a company survive a computer server crash that lost all of its data?
This article will help you get an overview of the problems and mistakes a company should avoid in order to survive in the market. There are companies with insufficient knowledge of technological advances and this leads to losses. To avoid such losses, a company should be efficient in dealing with technology concerns.
Email messages are not encrypted
Many companies do not pay enough attention to the security risks associated with encrypting emails. The main reason for this negligence is to save costs, and it is also a complicated process. There are companies that don’t even consider this a major threat.
However, experts in the field often recommend upgrading with email encryption systems to keep all email and attachments secure. A company can also purchase and install an encryption system.
Outdated or inadequate use of computers
Many SMEs do not realize that they need to change their old computer systems. The problem is, older devices often don’t have the updated and new features, create inconsistent internet, and can be slow to perform simple tasks.
Old systems are less resistant to cyber attacks and easy to hack compared to updated versions. This could affect employee productivity and even result in a data breach!
The systems should typically be replaced every three years to take advantage of the latest features and facilities. When a manager of a company realizes that it is time to change the systems, it should be done immediately.
The employees are not adequately trained
This is the most important aspect that many companies do not deal with adequately. Due to a lack of training, employees are not sufficiently trained to use the new technology. Some employees don’t even have the basic knowledge of Word, Excel, Windows, and Outlook.
If the employees in your company are also in the same situation, ideally you need to train them or hire new employees who are able to carry out basic technical activities. Employees must have updated training on all software applications to increase workforce productivity.
Cloud computing is not used
Cloud computing has made things easier than ever. It is widely used in many successful businesses as it enables employees, customers, and other users to easily access data. Cloud-based applications are a much more efficient way of backing up and accessing data compared to local applications.
Companies should work on the cloud strategy and try to move some of the data and applications to the cloud. This would include hiring a specialist to ensure that the transition is successfully installed and configured.
Rush for purchases
Some companies quickly buy and install tech things like software, laptops, ERP, or other technology requirements. It is important to compare prices and other factors before investing in technology. As a result, companies should be able to find better options that suit their specific needs.
Another example is when a company invests in stocks through trading platforms, it is better to find some of the cheapest trading platforms than to rush to an expensive platform that charges high commissions and fees.
Ignorance of the upcoming trend
Every day, month or week ahead brings a change. It is very important for companies to follow new technological trends in order to survive in an increasingly competitive environment.
For example, did you know that mobile devices are responsible for more than half of all web traffic?
This means that customers prefer to use mobile devices for daily searching and updating. If a company has an outdated desktop version of their website, the company needs to design a website that can also run on Android and iOS apps. Many companies ignore the latest trends and stay in a comfort zone that has a negative long-term impact on business.
* This is not financial or investment advice. Make sure to do your own research and speak to a professional advisor before parting with money.