Will your startup business make it? Unfortunately, top financial experts reveal that the prospects aren’t very good. In fact, eight out of 10 new businesses will go under within 18 months — and some don’t even last that long. With the right technologies, however, you can beat the odds. What key technologies vastly improve your chances of success?
Affordable Cloud Computing
“Data space can be a huge issue for small businesses. But you don’t need to purchase [an] expensive kit to get around this. Many small businesses are opting to outsource data storage,” The Telegraph explains. Choosing a cloud computing service or platform can save you a considerable amount of money on digital data storage. It also enables employees to log on easily from different locations, making it simple and convenient for employees to work on-the-go as necessary.
Product Lifecycle Management Software
Paying for goods and/or services that are no longer profitable can easily be the nail in the coffin for your company. Carefully monitor expenses with quality product lifecycle management systems. PLM tools allow you to assess products’ lasting or short-lived value at all stages — giving you a necessary heads up and adequate time to make necessary adjustments. Application lifecycle management software is also available. Application lifecycle management is especially important in today’s increasingly digital society.
Trusted Security and Backup Systems
One of the areas where you absolutely cannot afford to skimp on costs is security. Protecting company data and servers is essential. Encrypt information and backup data whenever possible. Reinforce these systems with thorough internet security training. Remember, not all of your employees will be able to recognize email phishing scams and malware.
Don’t set your company up for failure. Carefully invest in the right technologies — such as cloud computing software, application lifecycle management systems, and reliable backup and security software. For more, read this link.