What does it take to turn your business idea into reality and launch a successful startup? You probably think that having a top-notch product and engaged team is enough for running a profitable tech company. But let’s see if there’s anything else you need to consider for building a dedicated team of professionals.

Main Criteria of a Successful Startup

• Product that brings value.

Your product or service needs to address your users’ pain points and solve users’ problems. For example, your app can speed up cooperation between teams or minimize human involvement in routine tasks. Or, your software tool can notify sales reps each time recipients open their emails.

• Effective marketing and sales strategies.

Defining the buyer persona, generating leads, running cold outreach, and sending timely follow-ups are vital for any business. But startups have to survive in a highly competitive environment. So, addressing the wrong target audience or reaching out to potential customers with an unclear value proposition can be fatal.

• Flexible approach to processes.

Startups need to be highly responsive to the changing market needs. You may need to change your ICP (Ideal Customer Profile), craft the email copy, and run another outreach campaign. And for this, you shouldn’t wait for the weekly team meeting. Startups often have small teams, and their founders are open to dialogues.

• A team of data annotation professionals.

The chances are that you plan to enter the market with an AI-based product that uses ML (Machine Learning) algorithms. This means that you’ll need to equip your business with data engineers and data labeling specialists. And both teams are equally crucial for the success of your product or service.

• Professional developers.

Programmers are the execution power for your idea. They can make users love the digital product or service or make them throw it away after the first try. So, as a startup founder, you can’t avoid hiring a team of developers, and your business success will depend on their skills and qualifications. That’s why when it comes to hiring a software developer startup-experienced guys rule.

Benefits of Hiring Experienced Programmers for Startup

Every startup CEO wants to equip their business with a team of professional developers. And these are only some of the benefits of taking top data annotation specialists on board.

• You’ll reach business goals faster. Skilled engineers are more productive and work more quickly than their junior colleagues. So you’ll have most of the tasks completed before the deadlines or changes made promptly.
• You’ll get the right tech stack. Relevant tools and technologies help your dev teamwork effectively. For example, for ML projects, the right tech stack could even mean compatibility with data annotation services software.
• You’ll leverage the non-standard approach to tasks. Experienced programmers boast a flexible mindset and the ability to find alternative solutions. So, once you need some ingenuity or tech creativity, you’ll probably get it.
• You’ll get your product tested adequately. Software development experts always ensure their end product works well, so they arrange the proper QA (Quality Assurance) tests for that.

7 Things to Check Before Hiring a Developer for a Startup

Now onto the hiring! And here’s what you need to do before sensing the job offer:

• Check if your developers have relevant experience.

When hiring a developer for a startup, ask for similar completed projects. Which niche and industry were it for, what kind of business did it serve? And ensure if they worked in cooperation with data annotation specialists if your product is related to processing training datasets.

• Calculate the costs of hiring.

Startups are often limited in budget, but hiring top developers is expensive. That’s why you need to set the list of hard skills required for your project and estimate the salary of such a specialist. But if you find that the cost of employing this specialist is too high, think of alternative ways of collaboration.

• Consider the cooperation format.

You don’t have to hire in-house full-time programmers. There are plenty of part-time and remote opportunities for cooperation with your devs in the digital era. For example, the outsourcing or offshoring formats help you save on office rentals, leverage the lower salary of programmers from offshore destinations, and access the pool of top talents for affordable prices.

• Pay attention to cultural differences.

Once you decide to work with offshore software professionals, consider the time zone difference and cultural discrepancies that may arise. If, for example, you outsource audio annotation services from Asia or Eastern Europe, make sure that every member of your dedicated team shares the same business approach and result-focused mindset.

• Think about motivation.

It would be ideal if each team member shared your values and liked the product or at least was interested in your project. But if you can equip your startup with such people, you still need to think about their motivation. It could be a flexible working schedule, opportunities to incorporate innovations, training, or some recognition programs.

• Ask if your developer is a team player.

For some projects, it’s okay to hire developers who need to deliver the correct code and rarely communicate. These people are still dedicated to their work but prefer to minimize interaction. But if your project workflow requires day-to-day cooperation with a designer, marketer, or audio labeler, ask if your candidate is comfortable with it.

• Figure out who will do the recruiting and onboarding.

Founders of new startups usually take on many responsibilities, including hiring new people. However, the recruiting process isn’t always straightforward. You’ll need to create the ideal candidate profile, post the role description to job portals and social media. Don’t forget to ask for referrals as often engaged professionals come from the people you know. And another point is to find a skilled professional to help you interview your future software developer. Heres a brief guide that can help you:

Final Words

A professional team secures the success of your startup. And this is especially true for the software developers who create your product. That’s why you need to approach their hiring and onboarding thoroughly. And to keep the right atmosphere in your team, you’ll need to consider the hard and soft skills of your future programmers. We hope that the recommendations in this article will help you assemble a productive, cooperative, and affordable team!

 

Building an NFT community can be tough. The hobby itself is already fairly niche, all things considered.

NFTs are still a mystery to most people, which means you will not be targeting the general public, you will be targeting people with a lot of knowledge. Trying to appeal to knowledgeable people is fairly challenging, which means creating an NFT community is more difficult than creating a community for most other hobbies.

We interviewed the experts at Click Clone Cash in order to gain some valuable perspective on running and building an NFT community, specifically via Twitter. The good people at Click Clone Cash have dedicated their careers to the NFT marketplace and community and have agreed to answer a few of our Twitter questions.

First of all, let’s talk about what you are aiming for with a Twitter community. Are you just trying to gain a lot of followers? The more followers the better right?

Well yes and no. You do want more followers, obviously, and you want them for two reasons.

First of all, you want more people to see what you post, and you want them to engage with your Tweets. Secondly, more followers will legitimize you as an important voice in the community.

However, anyone can go out and just buy followers, but what we look for is engagement. We want genuine replies and conversations under our Tweets.

So as far as Twitter followers go, we look for quality over quantity.

How do you gain those quality followers?

Well if it was easy everyone would do it right? It’s a grind, pretty much.

You have to create quality posts, that capture the attention of big players. Tag popular people in the NFT community and get people to notice you.

Post provocative questions and start conversations. Do this continuously over long periods of time and you will see steady, organic growth.

So, if I want to build an NFT community, should I target all NFT collectors or just stick with a particular section?

Well NFT collection and investment is already a niche, but with that being said we think most people will want to target a niche of the niche. Collectors are not going to be interested in the same posts as investors, and then there are subsections of these subsections.

We believe it’s important to find your place in the NFT community in general, before building up your own community. Do you want to target investors, collectors, or those interested in the actual technology?

Figure it out and then craft your brand to appeal to them.

Should other social media platforms be used to gain Twitter followers? Or should Twitter be the starting place?

Oh definitely. Use Facebook, TikTok, Youtube, Instagram, everything that you can. If you go viral on another platform, your Twitter community can instantly explode.

Make sure that there is something unique about your Twitter posts, otherwise, people are going to follow your Facebook or Instagram and feel like they already get all of the information out of you that they want.

Once someone has the Twitter community, what should they post?

Well, it depends on what kind of community you have garnered. You may want to start advertising something, but we recommend that you keep ads to a minimum.

Instead, post discussions, NFT news, and promote artists. Always try to post things that people will want to engage with, in a positive way.

Try to be genuine, and have a personality, and let that personality shine through your posts.

 

The drastic technical changes that have happened in the last decade are jaw-dropping. What was once considered a science-fiction device or a fairy tale instrument is becoming a reality now. The evolution of smart devices, supercomputers, artificial intelligence, data science, augmented and virtual reality is massive and difficult to comprehend for some.

Nowadays, we have the chance to experience and use what was considered futuristic some years ago: ideas that have changed our lifestyle like never before.

In this article, we will talk about stunning technologies that are present today and dominate the future. So, buckle up and keep reading.

Self-Driving Car

Self-driving cars operate with an advanced autopilot driving system and have the capability of sensing their environment while moving safely with almost no human participation or input. Today, many reputable car companies are joining the club of establishing self-driving cars.

Waymo is considered the first commercial self-driving taxi service provider to offer rides to the public in the US. The applications of the new technology are unlimited and will reshape a wide range of industries in the near future.

Smart Glasses

Facebook, in partnership with Ray-Ban, announced their smart glasses last September. It isn’t the first smart glass announcement, as many other companies have introduced their own versions later. Depending on the brand, smart glasses usually come with built-in cameras and microphones. The glasses record video and audio, enabling users to share their daily stories and interactions.

Smart Watches

Smartphones were a revolutionary idea at the beginning. People were astonished by their capabilities and what they had to offer.

Nowadays, we are experiencing the new generation of technology through smart wearable devices. Smart watches include most smartphones’ capabilities, enabling users to make and receive calls along with receiving notifications related to their health and daily activities. Apple smartwatch, as an example, is considered a leading smartwatch with its unbeatable qualifications.

AR and VR Technology

This technology is a total game changer. The applications that augmented and virtual reality offer are unlimited. From medicine to entertainment, AR and VR applications are evolving daily, opening new horizons for users and industries.

Artificial Intelligence

As one of the most versatile and widely used technologies in the last ten years, AI is becoming a cornerstone of any industry or business. It facilitates the way of handling tasks and projects with the ability to track and understand users’ preferences. It’s another technology that has entered and is used in almost all industries.

Cryptocurrency

Some years ago, it was kind of a joke if you said that you paid for a cup of coffee at Starbucks using your crypto account. Believe it or not, this high-end technology is becoming more popular than ever before. Today, more banks are into crypto, allowing their customers to manage their financial operations using crypto.

Crypto has entered the entertainment sphere through the online gambling industry. Crypto casinos and sports betting sites like Betpack accept crypto as a payment method, allowing you to play your favourite slot game or bet on the team you support.

3D Hologram

We’ve seen such hi-tech only in sci-fi movies, but it’s here and has started to be widely used in recent years. Have you ever imagined attending a concert for a legendary dead singer in her actual 3D size, singing and interacting with the audience in the most realistic way possible? Wow!

Smart Houses

The notion of the “Internet of Things” has become so popular recently. The main application of this notion is making our house appliances smart, which means having the ability to control them even if we are outside. The benefits of smart house technology are so promised. We invite you to read about seven reasons to make your house smart here.

Robotics by Boston Dynamics

We have all seen the unusual robots that have been created by this company. Their robot videos have gone viral on social media, showing futuristic robots dancing and performing a full parkour course. Will they be able to take over your job in the recent future? Who knows..

Coronavirus Vaccines

We included this one as an appreciation sign for all the scientists, doctors, and medical staff who have been working day and night to find and improve one of the fastest and safest vaccines. They have used the most advanced medical technologies like messenger RNA to provide humanity with reliable vaccines to get back to our normal lives ASAP.

Conclusion

Technology is evolving daily, and the list of stunning technologies is not limited to what we have mentioned here in this article. We believe that this list could expand with a new hi-tech appearing every day, making our lives easier and more comfortable.

 

Almost everyone around the globe has heard about the last conference that Facebook CEO Mark Zuckerberg conducted recently. The company name’s shift from Facebook to Meta indicates unbelievable technical possibilities. Zuckerberg’s aspirations for the future and the virtual world that Meta is working to build have made each one of us start thinking about our virtual characters in the new virtual universe.

Such promised futuristic goals urged all industries and businesses even before Meta announcement to discover the new trend’s possibilities and applications to improve their businesses. Online casinos and the whole gambling industry, with a 59 billion USD market share, are among those seeking to apply high-end technologies to their businesses.

In this article, we will highlight some of the advanced technologies that are used in online casinos.

Crypto Casinos

Cryptocurrency, or crypto, is an advanced form of digital money with no central authority controlling its value. This new generation of money is working on what is called “blockchain technology.”

There are more than 5,000 different cryptocurrencies used in the market nowadays, and their values are determined by the cryptocurrency users via the internet. We invite you to read more about crypto, blockchain, and cryptocurrency staking terms here.

Crypto, which was widely criticized at the beginning, has become a reliable modern payment method recently. Crypto casinos are attracting more crypto users by offering them a safe and secure environment to use their crypto and enjoy the thrill of online gambling. Crypto casinos are the best places to experience the sense of gambling while using futuristic payment options.

AR, VR, and AI

These technical shortcuts imply great entertainment possibilities and opportunities for gamblers to have an unbeatable and realistic gambling experience. Online casinos use augmented reality (AR) and virtual reality (VR) in their games already to create a real gambling atmosphere like in land-based casinos.

Customers have the chance to interact and communicate with dealers and other customers to feel the actual brick-and-mortar casino sense. Moreover, applying the Artificial Intelligence (AI) capabilities empowers the overall experience by detecting the customer’s game preferences and choosing the most preferred ones using smart algorithms.

The applications of AR, VR, and AI in the online gambling industry are still improving, and new horizons are opening daily. We believe that in the upcoming years, online gamblers will have the exact same feelings that they would experience at an actual casino.

Smart Devices

Online gambling on smart devices has existed for some time, but the technological advancement in mobile gaming software is noteworthy. Gambling on mobile phones nowadays is easier than it ever was. It takes you only a few clicks to log in to your preferred casino, choose your favourite game, deposit and withdraw your winnings in no time.

It is anticipated that the rapid evolution of 5G networks and smartphones’ capabilities will reflect on the online gambling industry positively. 5G internet connections with powerful smartphones mean hyper-fast games and outstanding quality with high-resolution graphics for ultimate entertainment.

For more detailed information about how technology is affecting the revolution of casinos and the gaming industry, take a look here.

Top-Notch Security Systems

Whenever there is money, the chances for scammers and hackers are high. To keep their customer’s payment and private information safe and secure, online casinos use the most advanced security systems. Such high-end software represents the hackers’ worst nightmare.

It’s crystal clear that technical evolution and the online gambling industry are working hand in hand to satisfy gamblers’ appetites by offering the most cutting-edge technical innovations. We are confident that the upcoming years will unfold exciting technical spheres, and gamblers will not feel the difference between land-based and online casinos.

 

Both retail and the digital storefronts, abounds with innovations and technological creativity in the 21st century. Technology is not only changing the way goods and merchandise are sold and purchased but has revolutionized the segment.

These new upgrades and improvements have also helped retailers face the challenges posed by the pandemic situation better. Below are five ways in which the new tech is changing the retail industry, and what the future of the segment holds for us.

Frictionless and Faster Checkouts

The new tech is improving the shopping experiences in that it is reducing the friction that the transactions me be exposed to. The new automated stores are equipped with technologies including artificial intelligence (AI).

The new technology integrates with the POS (point of sale) systems as well as the back and the front end of the stores. The tech-aided frictionless checkouts reduce the shopping times for the shoppers and make the experience hassle-free as well.

The new tech has helped the retailer’s function for even greater operating hours, which culminates in greater revenue. The technology also helps these tools provide the customers the right products at the right moment, be closer to the customers, and optimize the operations.

Immersive In-Store Experiences

The in-store experiences are aided by the new technologies. Such experiences may be based on extended reality (XR) technologies that replace or enhance the view of the shoppers. The digital backgrounds combine well with the virtual production and retail methods and are backed by interactivity as well as real-time engines.

The new-age shoppers can indulge in the much larger and enthralling XR experiences while not needing any goggles, headsets, touchscreens, and controls as in the case of virtual reality. These new experiences help the retailers engage the customers better so that they stay in the store for longer period.

The new technologies enhance the conversion rates for the retailers and improve their revenues. Retail can be more fun-filled with the use of such technologies that do not require any contact.

Robotics

A recent research survey indicated that there will be 150,000 or even more robots deployed at the physical and brick-and-motors stores by the end of the year 2025. The robotic shopping carts can now be found at many supermarkets.

The food robotic machines (using advanced technologies) are not only preparing but also serving delicious and healthy food (for instance smoothies). Robotics may help retailers in multiple ways.

It will improve the quality and consistency in operations and will help the retailers earn the trust of the customers. Robotics may also help overcome human errors that may be a safety concern. The increasing cost of regulations and labor may also be subdued to a certain extent by using robots in retail.

Micro-Fulfillment for Retailers

Micro fulfillment centers are suburban or urban location centers that may be much closer to the end customers. These are the automated and small-scale warehouse facilities that can help the retailers provide home deliveries and pickups in much lesser time, thereby adding to customers’ convenience and comfort.

Whenever a customer will place an order the items in a micro fulfillment center will be picked then packed automatically and will be made available for pickups in not more than a few minutes. These items may also get delivered to the end location in no more than an hour.

Indoor positioning systems

The indoor positioning systems can be used in areas where GPS functionality and systems are not available or not accurate. Ab IPS may require supporting infrastructure including the Bluetooth beacons ultra-wideband and the Wi-Fi RTT.

Target has already deployed such a system in its stores where the customers can locate the item inside the store by using the target app. Deploying search systems may help the retailers provide better and more targeted suggestions to the customers which will result in more convergence.

The indoor positioning systems are also helpful in tracking the items and the customer traffic. Search facilities and benefits provide for better production protection of assets and to provide targeted deals to the customers as well.

Conclusion

Technologies that were new, not more than a decade ago are now being replaced with even more functional, fulfilling, and beneficial versions. For instance, the new JDE upgrades improve the ERP systems and optimize productivity and quality of the retail operations.

These new technologies improve both the supply and demand side of operations and enhance the revenue potential of retail businesses. Retail stores should take advantage of these technologies to provide better experiences to their customers, earn their trust, and ensure that they are not left behind in their competition with e-commerce.

 

Many people get injured due to the negligence of another. These injuries can range from minor inconvenience to life-altering. The pain may limit the victim’s ability to work or participate in activities they love. An accident attorney can help the victim recover compensation for his or her injuries. A personal injury lawyer in Queens will make sure the victim receives the medical care they need to heal from the accident. He or she can also help the victim fight for the compensation they deserve.

Personal injury lawyers in Queens will also determine how much compensation the victim is entitled to. These damages are often very high and are based on the exact nature of the injury. For example, emergency transportation, hospital stays, prescription medications, and future medical care are just some of the expenses involved. They also take into account long-term rehabilitation needs. A personal injury lawyer will make sure that the compensation is reasonable for the victim.

Once the victim has a firm in Queens, they can start the process of filing their claim. Personal injury attorneys in Queens will help the victim determine how much compensation they need to cover medical expenses, including emergency room stays, prescription medication, and doctors’ bills. These damages will be included in their case, so the plaintiff can move forward with their financial recovery. However, hiring a personal injury lawyer is not as difficult as it might seem.

The personal injury lawyer in Queens can also help the victim determine how much compensation they are owed. The costs of medical care may include emergency transportation, hospital stays, prescription drugs, and future medical care. Additionally, a Queens personal injury lawyer can help the victim quantify the pain and suffering they experienced as a result of their injuries. They can help determine the compensation a victim is entitled to based on these expenses.

Injuries can happen anywhere. Whether a person falls on a sidewalk or slips on a parking lot, these accidents can leave the victim with permanent injuries. A personal injury lawyer in Queens can help them file a claim. Even if you do not have insurance, a lawyer can help you file a claim for you. It is important to consult an attorney about your case as soon as possible, as an accident can cost thousands of dollars to recover.

If you are injured in Queens, call a personal injury attorney in Queens who will be able to help you obtain compensation for your injuries and medical bills. These injuries are often the result of negligence or intentionality of other parties. A good Queens personal injury lawyer will be able to fight for these damages. A lawyer in Queens will be able to prove the negligence of the other party and ensure that the injured person receives the full compensation he or she is entitled to.

 

It’s crucial to stay up to date on trends and fads in the business world. If your business falls behind too much for too long, then there’s a good chance it’ll be left in the dust of its competition.

There are two ways to go about keeping your business modern. You can either adapt as the world changes around you, or you can speculate and try to prepare for those trends.

Joseph Jedlowski recommends preparing beforehand in order to avoid being caught off guard by a particular trend that may arise. Joseph Jedlowski is an entrepreneur with experience as a CEO and an owner of multiple companies.

We sat down with Jedlowski and got his opinion on what business trends he expects to see in 2022.

A lot of large companies have started bringing a lot of processes in-house, things they’d normally outsource. Do you expect this trend to continue?

It depends, some things will actually do the opposite. Things can be outsourced much easier since we are in a remote world.

Things like writing, art, and even coding can be done from home, and I expect more businesses to go this direction especially when the leases on their buildings start to run out. On the other hand, shipping is not as reliable as it used to be thanks to the pandemic, so a lot of companies may start bringing manufacturing in-house to avoid any future supply chain malfunctions.

We saw a lot of businesses starting to show the human side of themselves during the last couple of years. Will this continue?

I think so, yeah. Definitely. A lot of CEOs and boards have kind of realized that not only is it what people want, but it is what the world needs.

We need to be socially responsible and sensitive. So yeah, I definitely expect this trend to continue into the foreseeable future, and I’m proud of that fact.

You mentioned remote work. Do you think businesses will start moving away from an in-person workplace?

I sure do. Remote work just makes sense when it is possible.

Internet is getting faster and technology is getting more reliable. Plus, a lot of innovation has been made in remote workflow and technology.

Remote workers are happier and more productive as well, so it is a win-win for the company and the employees.

How about marketing, are there any big trends that are going to take off or continue in 2022?

Yeah, influencer marketing is going to continue to grow. I expect it to get a little more structured as well.

Right now, there are a lot of influencers that don’t really understand how to market products and a lot of businesses that don’t know how to spot the good from the bad. I expect the whole structure of the strategy to get an overhaul.

Other than that, I think NFTs will be used more in marketing than they currently are. More in-game items and more products that come with some sort of NFTs.

NFTs exploded in popularity in 2021 and it will only continue to dominate in 2022. Check out these cool NFTs on Rarible.

Analytics has come a very long way in recent years. Will more companies utilize this information and start using analytic services?

With new technologies that can be integrated into your business, tt’s easier than ever to get very detailed statistics and analytics. Every year gives us more information as well so yes, this year will be no different.

Statistics will improve and give us more insight into our customer base. It is also easier than ever to get these statistics and read them thanks to services like google for example.

 

Did you know that there are about 200 million active websites on the internet right now? And, around 250,000 new websites are created every day. That boils down to three new websites every second!

If you want to start a business, an attractive and effective website is crucial to your success. A website allows you to connect with potential customers around the world. Also, it makes it easier to stay connected and turn potential customers into return customers.

Launching a website is a big step in your business ownership dreams. But, how do you make a website that doesn’t get lost in the onslaught of new daily websites? Read this guide for helpful tips for starting a website like a pro!

Know Your Audience

All good marketing should begin with understanding your audience. Who are the people you see purchasing your product or using your service? What would they want to see or experience on a website?

For example, if you sell something made for an older crowd, avoid a visually or technically complicated website. If you have a product meant for Gen Z-ers, design to their interests and values. Keep your audience in mind as you create a website that will draw them in and excite them!

Choose a Domain Name

If you already have a name for your business, is the domain even available? If the .com domain you want is taken, you can look into .org, .io, or .tech depending on availability. However, make sure you are abundantly clear in your advertising that you’re a .org not a .com.

Your domain name should be easily recalled and reproduced; think short and sweet. If you can choose something with relevant keywords, you’ll be doing your future self an SEO favor.

Clarify Your Brand Identity

In the process of launching a website, it’s a good idea to work with a professional web developer. They understand the intricacies of refining your brand identity and reflecting that in the design and layout of your website.

A business that advertises a service should look and feel different than one that sells a product. Also, your pages should feel cohesive regardless of whether it is an “About Me” page or a blog post.

Tap Into SEO Tools

SEO stands for Search Engine Optimization. SEO is the process of driving organic traffic to your website. This traffic is critical for the survival of your business.

There are professionals that can help you with your SEO and there are tricks you can implement on your own. Check out this site to get a free PDF of 25 SEO tools.

Launching a Website Will Be A Breeze!

As you implement these tips for launching a website, you’ll find enjoyment and excitement in the process. Your website will help set you apart from your competitors and will launch you to success!

The helpful tech tips don’t stop here. Check out our blog for more relevant information to bring ease to your life through technology.

Today, with the rise in online shopping and a greater number of people taking their money to purchase goods or services from an unknown source, there’s been a corresponding increase in the amount of fraud. There have also been more incidents where hackers have broken into company databases to steal sensitive information. For your business to compete on a level playing field with other companies that offer secure transactions systems, you need one too. Otherwise, your customers will move on to another company with this capability and may never return.

In addition, if you do not have some form of secure transaction system set up for your website or mobile app, hackers could gain access to your customers’ personally identifiable information (PII). This could leave your company liable under several federal and international laws.

What is PII?

PII is any information that can be used to uniquely identify an individual. This can include anything from a name and address to Social Security number, driver’s license number, or credit card number.

The best way to protect your customers is to provide them with an easy-to-use system for making secure financial transactions. This will ensure that their data is protected both in transit and at rest.

Consequences of a PII Breach

Legal

If you do not have a secure system in place, hackers can hijack your customers’ accounts and steal their PII. This means that they could use this information to commit other types of fraud, such as bank or credit card fraud, against the account holder. If the breach involves more than 500 records, it must be reported to the Federal Trade Commission (FTC) and the individual state’s attorneys general. In addition, several states have their privacy laws regulating how PII should be handled, including notification to consumers in the event of a breach.

In some cases, where your company has been negligent in protecting its customers’ data, it could even be sued. For example, in 2016, Several entities, including the federal and state governments, sued the credit bureau Experian for $5 million after a hacker was able to gain access to the personal information of more than 150 million people.

The European Union has even enacted the General Data Protection Regulation (GDPR), which came into effect on May 25, 2018. This new law dramatically increases the penalties levied against companies for mishandling or improperly securing PII. Under GDPR, companies can be fined up to 4% of their global annual revenue or €20 million, whichever is greater.

Your Company Gets a Bad Reputation

Another potential consequence of a data breach is that your company can develop a bad reputation. If your customers are not confident that their personal information is safe when they do business with you, they may take their business elsewhere. This can be extremely damaging to your business if you rely on word-of-mouth advertising from satisfied customers or referrals. This could have a serious impact on your bottom line.

How Your Company Can Protect Itself

There are many ways for companies to protect themselves against data theft and loss of customer trust.

Segregation of Duties Software

The first step is to reduce the number of people who have access to sensitive data. You can do this by using segregation of duties software.

For example, suppose one person has been given the ability to authorize a purchase order in a company’s ERP system. In that case, they cannot also approve payment for that invoice in the Accounts Payable module. Limiting the number of people who have access to this data makes it more difficult for hackers to gain access.

Two-Factor Authentication

Another way to protect your customers is by using two-factor authentication. This requires users to input a code sent to their phone or email after logging in. This code is only valid for a certain amount of time, so even if a hacker manages to steal your customers’ login information, they will not be able to use it without the two-factor authentication code.

Encryption

Another way to protect your customers’ data is by using encryption. This scrambles the data to not readable to anyone without the key.

Final Thoughts

As more and more people are shopping online, online scams continue to grow. While many stores already offer shoppers their own secure payment options, it is worth mentioning that these transactions are often easier to process than credit card purchases. The best way to keep their customers safe is to provide an easy-to-use, secure system for financial transactions.

 

Do you have a lot of paperwork to manage? Do you feel like you can’t keep up with the demands of the business world? If so, then you might want to consider moving your documents online. Online document management is a great way to streamline your work and get organized. Not only will this help you save time and money, but it also allows you to focus on what really matters in your business: your customers and products. You’ll be able to keep track of all of your documents in one place, and you won’t have to worry about losing them or forgetting them.

Here’s what you need to know when you’re considering online documents for your small business.

What is online document management?

Online document management has been around for quite some time now. It’s not a new concept, but it is becoming more popular as businesses continue to streamline their operations. If you’re a small business owner, think about how much time you spend on computer systems and other devices like your phone or tablet. If your documents are stored in a secure cloud storage system, then why would you have them on paper? You’ll be able to access your files from any computer or device at any time with the help of an online document management system.

How does online document management work?

The benefits of online document management are endless. It can help you organize and manage your business in a way that is completely secure. You can make sure that your documents are backed up, accessible, and secure.

Many companies have their own document management systems that they use to store and manage all of their documents. These systems aren’t as secure as trying to do it all on paper, but they do the job if you’re not ready to go digital or don’t want to take the time to learn how to use them effectively.

Backups can be helpful so when your computer crashes or has issues connecting with the Internet, you’ll still have all of your essential documents available for quick recovery. This is where DocuSign alternatives can be helpful since they can help you create settings that work for your type of business.

The benefits of online document management for small businesses

A big reason why online document management is becoming so popular is because it can help small businesses reduce the amount of work that goes into maintaining their paper-based systems.

In addition to saving you time and money, online document management also lets you take advantage of your existing software and web services. Instead of having to create a whole new system from scratch, you can just connect with these resources and use them as if they were part of your system already.

Conclusion

In addition to keeping track of all your business’s important documents, you’ll be able to access them from anywhere, anytime with online document management software. This will help you keep your business up-to-date while working at home or on the road—and it won’t limit you from accessing important information.