Technology is still a newcomer to the business world. For this reason, it’s no surprise that many CEOs don’t really understand the tech their company uses.
Ask them about financial forecasts, and the chances are that they will spend hours on the subject. But most will freely admit they know nothing of the systems and IT processes that are in place.
While it’s no surprise, it’s also alarming. There are hundreds of risks involved with using technology, each of them capable of you out of business. We’re going to take a look at some of the biggest tech dangers to your business – and how to avoid them.
The first — and most obvious — danger is cyber crime. Over the past few years, we’ve all seen some high profile cases of cyber crime. The rise of hacking into corporate and government websites and stealing data should be concerning. For small businesses, as well as large. Yet so few businesses are actually serious about protecting themselves. It is vital that your business is doing all it can to make it as hard as possible for data breaches to occur.
The Human Factor
People make mistakes, no matter how competent they are. And, every business could go through a lot of turmoil from the simple event of an employee hitting the wrong key on a keyboard. However, people can also get their heads turned, or take foolish risks. As a business owner, the worry is that an employee could weaken your security by a significant amount. Invest in the right training – and consider monitoring their access levels. You need to know – and trust – anyone with access to sensitive information and data. Otherwise, you are setting yourself up for potential disaster.
Is your business prepared to deal with the aftermath of a natural disaster? According to Infrascale, 43% of companies want to invest in disaster recovery systems. However, most think it is too expensive and complicated, and put it to one side. This is a big mistake. If disaster – natural or otherwise – strikes, your services and data could vanish in an instant. And there may be no recovery available to you after that.
The Lure of Technology
We live in a world where technology is hoisted upon us as the solver of all problems. And it can be tempting to buy a new software or system because you feel it is necessary. But is it really? Unless it has significant value for your business, buying new tech is a waste of money – and your time. Investing in technology is not about keeping up with the Joneses. It’s about adding value to your business – nothing more.
Failure to Audit
As with every other process and system in your business, you should be auditing your technology. Again, it’s strange that so many CEOs will happily review their finances, but not one of their key investments. Sure, it can be a hassle – and time-consuming. But if your technology is failing you, it is necessary to spot the problem sooner rather than later.