Unfortunately, 80% of small businesses don’t take full advantage of technology. Business technology is ever-evolving. Small businesses have to adapt to meet the needs of ever-demanding customers. Companies that take advantage of technology earn twice more revenue per employee.
But why is that? What technology challenges inhibit small businesses from realizing their full potential? Read on to learn more.
Many technology options allow small businesses to ease operations. However, there is still a concern about the user-friendliness of those tools. Many companies opt for customer-focused technologies. They don’t consider the challenges employees may face during implementation.
Many small businesses may not have the resources for dedicated training. Small business employees often rely on vendors’ self-help videos and tutorials. That is hardly enough to help workers feel connected to the new platform.
Handling Security Risks
Information security is a significant issue for large and small businesses. Protecting customer information, intellectual property, and financial documents is crucial to business success. If this information gets out, customers lose trust in the company.
But, unfortunately, many small businesses aren’t capable of preventing cyber attacks. That’s because cybercriminals are constantly creating new threats and attack strategies. Qualified IT professionals are also hard to find and expensive. Total Uptime can you integrate, secure, and manage your multi-cloud network to avoid cyber attacks. Learn more about totaluptime.com here.
Choosing the Right Platform
Investing in new company technology can be an overwhelming task for small businesses. Every vendor claims that their offering is more superior. Decision-makers are often persuaded to invest in different technologies. Failed implementations and the fear of choosing the wrong platforms compound the issue.
Businesses have to take the plunge to stay competitive. However, technology is not the core business of many small firms. Business owners aren’t familiar with the best technology frameworks and development standards. More often than not, they choose new solutions based on cost alone, which costs the business more in the long run.
Compliance With Regulations
There are specific regulations small businesses need to follow. For instance, retailers must ensure PCDI DSS compliance, while hospitals must adhere to the Health Insurance Portability and Accountability Act (HIPAA).
This requires having the right technology solutions in place. You can simplify compliance analysis, remediation, and validation by investing in the right IT solutions. But small business owners often choose IT solutions based on cost only.
Costly Customer Service Problems
More small businesses are making use of mobile commerce and e-commerce technologies. But processing payments also comes with some problems. An increasing number of small businesses are experiencing fraudulent payments and customer chargebacks.
Chargebacks occur when clients dispute payments because they didn’t receive the product or fraudulent payment. When that happens, the business refunds the money paid and loses the sold products. Small businesses need secure payment gateways managed by professionals.
Overcome Technology Challenges with the Right Vendor
Small businesses can overcome the above technology challenges when they partner with the right IT vendor. A good vendor gives businesses complete control over their DNS, network, and applications. This allows brands to increase application availability, security, performance, and cloud integration.
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