Tag: Small Business

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Casserly Consulting Blog

Unpaid Invoices Were a $825 Billion Problem Last Year

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Businesses exist to make money. Regardless of what that money is intended for, be it to sustain someone’s lifestyle or to bankroll a cause, a business will cease to be without an incoming cash flow. Unfortunately, unpaid invoices can make that cash flow stutter and slow to a trickle, and many businesses experience this problem as billed money doesn’t come in.

This presents those who rely on a small-to-medium-sized business to make a living, from the CEO to the employees, with another problem. How can they be paid if the business isn’t receiving its payment for services rendered until 30, 60, or even 90 days later? Many industries have begun to make these their typical payment terms.
Resultantly, businesses have found it difficult to continue their operations without the financial inundation from their current clients. You may have encountered this kind of issue yourself.

If so, you are not alone by any stretch. Estimates attribute 5% of the entire national gross domestic product to unpaid invoices, with the average small business waiting to be paid around $84,000. 81% of these invoices are past due by 30 days, which is especially bad when one considers that the average small business only has 27 days of capital saved up and available to them.

All in all, estimates put the total amount owed to small businesses due to unpaid invoices at $825 billion.

Even without taking that sum into consideration, this is a clear issue that many businesses face whenever their invoices are not answered in a timely fashion. If these businesses don’t have any funds to spare beyond what is needed to stay in business (assuming they have even that), how will they ever make the improvements they will need to stay competitive? How many projects have you abandoned halfway because it caused too much financial drain?

While it may seem to make no sense to invest your much-needed capital after we’ve just announced that your company may fail without it, there is a simple way to save your business money as you work to get what you’re due. With managed services from COMPANYNAME, your capital spending on your technology management can be transferred into a predictable, and budgetable, consistent schedule. We can also provide you with the solutions to help you track who is repaying their debt to you, and who isn’t.

Call PHONENUMBER for more information.

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Casserly Consulting Blog

What to Expect from IT in 2018

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As one of the most famous head coaches in NFL history, Vince Lombardi has several quotes that can be applied to success. One particular statement to note is “If you are five minutes early, you are already ten minutes late.” As it turns out, this quote inadvertently refers to technology. The technology industry moves a mile-a-minute and businesses are always looking for ways to innovate and make significant improvements to technology.

In fact, it’s just one small way you can make a big change for your small business’ operations. Here are some of the best developments to look forward to for your business’ IT in 2018, as per some of the most notable IT professionals in the United States.

  • Emerging technology is important. Of all technology observed, security (81%), mobile device management (51%), and big data (49%) are likely to play a major role in future technology development.
    • What this means for the small business: The threat of a hacking attack or data loss should never be underestimated. In order to commit to keeping your business secure, it is best to proactively take steps to keep threats out of your network. Considering how popular mobile solutions have become, you need to include mobile device management in your maintenance strategy.
  • Network security is a focus. Businesses understand how crucial it is that their network data is properly protected. 70% say that securing this data will be their top priority in 2018.
    • What this means for the small business: While peer pressure isn’t usually a good thing, this statistic is the exception. When almost three-quarters of your industry contemporaries are taking steps to improve their security against cybercrime, it’s a good indication that you should as well.
  • Balancing in-house and outsourced solutions. 54% of survey respondents plan to combine internal and external IT support and administration to fulfill their needs.
    • What this means for the small business: Some positions are simply more difficult to fill as a part of an in-house staff. For example, there just aren’t enough security experts for all the vacancies in small businesses, especially when large businesses lure candidates away with more pay, better benefits, and other perks. Furthermore, not many small businesses would likely need a full-time security resource if best practices are followed.

      As a result, many businesses are looking externally for their cybersecurity needs. A managed service provider can provide an outsourced team of experienced IT professionals who will communicate and work with you to meet your organizational technology needs. This allows you to preserve your budget by eliminating the need to hire and train your own internal resources.

  • Increased use of a virtual environment. It is expected that using the cloud and virtualization technologies will lead to a 69% decline in utilizing installed applications on local systems.
    • What this means for the small business: Complicated infrastructures have no place in the digital climate of today, and relatedly, there is a need of scalability to meet the needs of your business and workforce. A virtual environment lends itself to that ability to change, and easily allows you to securely make necessary changes to your data–whether those changes are alterations to user access permissions, the addition of new user accounts, or scaling services.
  • Increase in SaaS. 61% of those surveyed predict that the operating system will gradually become irrelevant as applications move more and more to the browser.
    • What this means for the small business: The move from self-managed applications and software to fully-managed Software as a Service will allow business users to be productive from anywhere, with their solutions maintained for them by the hosting service. This includes installing updates and applying patches as they are released.

How do you plan to leverage these technologies in your business? Whatever your plans are, COMPANYNAME is here with the solutions and experience to help. For more information, give us a call at PHONENUMBER.

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Business

Managed IT Can Help SMBs Tackle These 3 Common Challenges

b2ap3_thumbnail_smb_technology_challenges_400.jpg It’s only natural that new and improved technologies will be challenging for employees to embrace and become accustomed to using. These challenges tend to shape how businesses will make their decisions as time passes. A few industry research firms have released their projections as to what challenges businesses will face in the coming months of 2017.

While their reports were far from identical, there were a few consistencies in the findings that each firm came across. These consistencies can help the average small and medium-sized business adjust their approach in the coming months to optimize their ability to grow.

Both research firms found that, in varying order, the top three challenges that SMBs will face have to do with maintaining their current solutions, organizing restricted budgets and necessary costs, and increasing their security. However, one of the firms found that the concern over security was more focused on their mobile devices. Despite this minor difference, there is still a pattern to the priorities that SMBs will have throughout 2017 that enables us to establish what solutions will be in high demand.

Most notably, the companies who were examined as a part of this research were highly concerned about their finances–specifically, how to optimize their spending in order to receive the highest return on investment as possible for the least amount of capital expended. This considerable task becomes much simpler once a managed service provider is introduced into the equation.

The way things used to be, a company would (for the sake of their budget) assume that they wouldn’t encounter any issues and devote limited funds to resolving them, but when an issue was encountered, the company would end up spending their entire budget and then some, leaving them at a deficit the next time a problem surfaced. An MSP, on the other hand, will provide its services for a regular (and therefore predictable) cost, allowing your business to properly budget for its IT maintenance.

The studies also showed that many businesses were concerned about a few other factors that an MSP can help resolve. An MSP will take proactive steps to make sure that a company’s solutions don’t encounter issues that could throw its productivity into jeopardy. This can be accomplished by proactively monitoring the technology a company has in place. An MSP will also make sure your security solutions are maintained so that threats are less likely to make it onto your network in the first place.

An MSP can help to serve your business beyond these top three concerns throughout 2017 and beyond. For more information into what an MSP can offer, give COMPANYNAME a call at PHONENUMBER.

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Cloud

Tip of the Week: 3 Ways the Cloud Streamlines Operations for SMBs

b2ap3_thumbnail_cloud_computing_400.jpg The cloud is a great asset that your business can use to your business’ operational efficiency, but only if you’ve put plenty of thought into the implementation process. Since the same cloud solution likely won’t work the same way for two different organizations, you’ll need to intimately know what your business needs so that you can build and deliver a cloud solution to meet these demands. This week’s tip is all about helping you determine the best cloud solution for your organization.

Here are three factors that you need to consider when seeking out a cloud solution.

Hosting and Maintenance
It’s likely that hosting complicated technology solutions isn’t your organization’s forte. Not only is it a time-consuming endeavor, but it’s also technical and challenging. Plus, your organization may not have anyone dedicated to the task. In this case, it’s ideal to simply outsource this responsibility so that a cloud provider can host your solution and maintain it for you.

There are three types of cloud solutions that allow your organization to adapt to its specific needs: public, private, and hybrid. Public clouds allow your organization to store data in a shared online space that’s managed by the provider. Private clouds, on the other hand, can be hosted on-site on your own network, or virtually by an outside provider. Hybrid clouds are designed in a way which allows for the convenience of a public cloud while retaining the privacy and functionality of a private cloud.

Flexibility
Since your business will inevitably grow, you’ll be likely to add new users and implement new technologies. You’ll obtain more clients, and in doing so, your workload will increase to the point where your previous infrastructure might not be able to handle it properly. Therefore, if you want your cloud solution to be a valuable asset in the future, you’ll need to think about growth.

The cloud allows organizations of all shapes and sizes the flexibility to adapt to changes in their workforce or the number of devices accessing company data. You will have complete control over how many user accounts and how much data storage your organization has. The main difference, however, is that the public cloud makes it a bit less expensive to expand. If you choose a private cloud solution, it is sure to require a substantial investment on your part, as you will have to secure the resources. The main benefit of the private cloud is that you will have full control over the management and maintenance of the computing infrastructure, providing complete situational flexibility.

Security
When it comes to running a business, there are few things more important than security. Considering how cloud storage is based in the Internet, you have to worry more about hackers. There are security solutions designed to keep breaches from occurring, but not all cloud solutions offer the same level of protection.

What’s the major difference between these cloud solutions in regard to security? The public cloud generally allows for a set level of protection, with the potential for increased levels of service depending on how much you’re willing to pay. The good news is that the public cloud is relatively safe, the reason being that these cloud providers generally have trained IT teams that are dedicated to keeping your data safe. Of course, this is just to keep their own organization safe, but it’s nice to know that you can count on them. The same can be said for any managed service provider who offers a private cloud hosting service. If you host your own private cloud, you can implement whatever measures you desire.

Do you need a hand choosing a cloud solution for your business? If so, reach out to us at PHONENUMBER.

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Security

Even Small Businesses Need a Big Security Solution

b2ap3_thumbnail_small_business_security_400.jpg One of the main benefits of a small business is that it’s small. You can make decisions quickly regarding all sorts of matters. Your workforce isn’t nearly as large as other organizations, meaning that you’re a closer, tight-knit group. One of the misconceptions of small business is that they’re not as susceptible to hacking attacks, which can be a dangerous assumption to make.

The reasoning for this is simple: hackers don’t care who you are or what you do. They don’t care if you’re a large business with thousands of employees, or if you’re a small startup in the suburbs of your hometown. They don’t care if you’re in the healthcare industry or if you’re just a small goods manufacturer. All they care about is stealing your data, and if you don’t take measures to protect it, you could be dealing with a major issue that can’t be swept under the rug and forgotten about.

All businesses rely on their mission-critical data to function, and all businesses have information that’s valuable to hackers. For example, most companies have a human resources department that collects information about employees and potential new hires, including Social Security numbers, dates of birth, addresses, phone numbers, email addresses, and so on. On a more personal note, your business’s finance department holds payment information for both your clients and your own business, which could be catastrophic if it were to fall into the hands of hackers.

However, even though hackers will use variable tactics to infiltrate and infect a network with viruses, malware, spyware, or other threats, they often don’t target specific data. In fact, hackers often don’t target specific businesses at all, and instead will send out widespread scams designed to infect any and all who are foolish enough to download a file, or click on a suspicious link. These threats are most often found in phishing emails (scams that are designed to get a user to visit a malicious website, download an infected attachment, or click on a link) that executes a malicious payload. A small business like yours will rarely experience a direct hacking attack specifically designed to infiltrate your exact systems.

Due to this oversight, your business can make significant steps toward proper cybersecurity practices by implementing security solutions that are designed with the enterprise in mind; specifically, a firewall, antivirus, spam blocking, and web content filtering solutions. These security measures are all necessary if you want to minimize your business’s exposure to online threats. They can keep your team from accessing malicious websites, keep threats out of your system, and eliminate the majority of spam that hits your inbox. Furthermore, a powerful antivirus can swiftly destroy any threats that do manage to infiltrate your system.

With a small business, you still need to implement security solutions. There’s no getting around that. What you can do to make it easier on your organization is to contact COMPANYNAME. Our skilled technicians understand the everyday difficulties that come from managing technology, including optimizing security. Ask us about a Unified Threat Management solution that includes all of the above-mentioned services, and don’t forget to inquire about remote monitoring and maintenance that’s designed to detect and resolve abnormalities in your systems. To learn more, contact COMPANYNAME at PHONENUMBER.