Author: Stuart Crawford

The Power to Conference & Collaborate Better Can Be Yours

Microsoft has just announced the June 2019 release of its Surface Hub 2, a tool for conferencing and collaboration among teams. This is the Surface Hub’s successor, and it boasts improvements to the responsiveness of its active touch screens, snazzy 4K displays for crystal clear display capabilities, a battery pack option for smoother conference mobility, and streamlined integration with both Teams and Office.

Do you need to spring for this device? What considerations do you need to keep in mind as you build out your business’ conferencing capabilities? What tools do your employees need to do their jobs well, and what features are your clients going to respond to the most favorably?

1. What sorts of collaborative needs do your teams have? Depending on the type of work being performed, this can range. Perhaps you need to have streaming media transmitted smoothly, or the ability for multiple parties to directly mark-up input on a particular object. Maybe you need this primarily for sales, and so crisp screenshares and crystal-clear camera video and audio are vital for customer conversion. Gaining clarity on these values upfront will allow you to make the right decision regarding which tool to purchase.
2. How well does the conferencing tool integrate with your existing computer and security infrastructure? One key aspect of this is to make sure that both your firewall as well as your primary operating system are compatible with your conferencing solution. Failure to research this in advance most commonly results in being unable to use many of the advanced features of the purchased solution.
3. How much support do you anticipate needing for your team? Errors and glitches will always arise in software and hardware alike. Your employees need to be well-supported in resolving any issues that come up. Do you have a dedicated internal IT team that can assist with this, or do you need to have support on-hand from the solution’s manufacturer? If you have global teams using this platform, consider factoring in the availability of support for them—in their languages and/or time zones—as well.
4. Do you need to purchase additional hardware, or can a software solution suffice? Particularly if your employees are using laptops to get their work done, they likely already have cameras built-in to what they use. Combined with network connectivity, they have the raw potential to conference already. All that is needed is to select a video conferencing platform. Larger teams utilizing conference rooms and more elaborate computing set-ups may benefit from outfitting their spaces with new conferencing hardware.
5. What specific features do you need from your conferencing platform? Consider the size of the meetings your business usually holds and how many seats you need to have available when people convene. Do you need to be able to record these meetings? What sort of invite and even follow-up capabilities do you want? What integrations do you need—for example, do you need to be able to use Salesforce to account for contacts, or integrate with Office?

Although Microsoft is a leader in computing solutions, they are not the only players available on the market offering up collaborative conferencing tools. Careful consideration of your business’ needs combined with research into the different hardware and software options that are available are critical steps toward making sure you get the most out of whatever platform you choose.

Cybercriminals have started 2019 off by stealing more than 1.7 billion records. They look for data that is profitable in some way, whether they sell it directly or use it as part of another attack. A successful intrusion attempt comes from various factors, such as an employee downloading a malicious file or the business failing to follow IT security best practices. Here are 10 ways that hackers find a way to get into business networks

Tricking Employees into Opening Malicious Files

Phishing accounts for 91 percent of successful network intrusions. Employees see an email that looks authentic. The hacker makes it appear like it comes from someone in leadership, an external partner or another significant entity in the organization. The email has a file attached or a link included in the body of the email. If the employee opens the file, it loads malware onto that system or directly to the network. The phishing emails with links work by taking the user to a fake login page or another screen that requests username and password information. The hacker uses this to get into sensitive systems. The URL could also lead directly to malware.

Visiting Unsafe Websites

You can block suspicious websites and downloads for equipment that connects through your business network, but if someone uses a personal device, they don’t have the same level of protection. The next time they get on the network with the compromised device, the malware has a way to get on your systems and spread throughout your organization.

Lack of Control Over Personal Devices

If your company doesn’t have “Bring Your Own Device” policies in place, then you could end up with unapproved personal devices using your resources. IT doesn’t have any oversight on these unauthorized devices, so they represent a significant threat.

Lack of Cyber Security Awareness

IT security measures can only accomplish so much. Cybercriminals know that organizations have people of varying technical proficiencies. When an end user doesn’t have sufficient cybersecurity awareness, they fall victim to phishing and other attacks. Employees need to understand the steps they can take to protect against hackers, and get the training to learn about IT security best practices.

Poor Password Management

Employees may have weak passwords for their work accounts. In some cases, they may opt for no passwords. Data breaches at other companies could expose common username and password combinations that end up being in place at your business. Password cracking software makes figuring out this information trivial.

Insufficient Backups

Data backups are critical to helping your business recover from a cyber attack or another disaster. If the backup solution doesn’t work correctly or it fails at creating a complete backup, you could face losing months or years of work. The financial loss would be enormous and puts you in a situation that’s difficult to recover from.

Failure to Proactively Monitor and Maintain Infrastructure

Hackers look for vulnerabilities in your network that would allow them to launch a successful attack. If you don’t have IT security professionals monitoring your infrastructure and keeping hardware and software up to date, then you’re creating an environment that’s ripe for a data breach.

Lack of Cyber Security Measures

A failure to follow IT security best practices can lead to a workplace that doesn’t have enough cybersecurity measures in place. Some companies may be misinformed that all they need is perimeter defense to keep hackers out. You may be vulnerable to an intentional or unintentional breach by an internal actor, or be unable to defend against a sophisticated attack.

Unprotected Wireless Networks

Public wireless networks may be convenient for employees, but anyone within range can connect to them. A hacker can intercept the data traveling on the public Wi-Fi and use that information to get into company resources.

Sophisticated Social Engineering Efforts

Some hackers have attacks that involve a lot of social engineering. They may be trying to get into the financial accounts of upper management or accounting, or they could want to access trade secrets and insider information. They act like they’re an authorized person with a legitimate need to have the data or access that they’re requesting. Cybercriminals can be very convincing, especially when they have well-funded operations. If your company has a lot of turnover, or departments that don’t interact with each other, it’s difficult for employees to keep track of who actually works there.

Lack of Physical Access Control

One area that gets overlooked in a cybersecurity strategy is physical access control to data centers and other rooms that contain servers with sensitive data. A hacker could download that data directly from your systems or take the opportunity to load malware onto your infrastructure. If employees write down their account information and post it on their workstations, the hacker could save this information for later use.

Hackers have many ways to break into your business infrastructure and compromise your systems. Intrusions can lead to long-term consequences, such as major financial losses and damage to your reputation. Protecting against these common attack methods puts your company in a better position to limit your cybersecurity risk.

Microsoft began notifying Outlook.com users of a 2019 security breach that occurred between January 1st and March 28th. Hackers were unintentionally given unauthorized access to some accounts, where they were then able to view subject lines, email addresses, and folder names. While no login details—including passwords—were directly accessed as part of this breach, Microsoft did warn users to reset their passwords.

Although the hackers could not view the actual content in the bodies of emails nor download attachments, this incident still represents a major—and disturbing—security incident. This breach serves as a reminder to every business to tighten up its security measures and protect its assets.

Use multi-factor authentication.

Do not leave this as an optional measure for your employees; require it. Multi-factor authentication uses more than one form of identity confirmation—this is the “multi-factor”—to prove the identity of the person attempting to access a particular platform—this is the “authentication.”

Depending on where in the product the Microsoft breach happened, multi-factor authentication could even have possibly prevented or limited the breach. In general, this authentication process adds a strong layer of security. Hackers don’t usually have both the password and the PIN, secret questions, or other ability to verify their identity.

When vetting which type of authentication to implement—if you have this option—consider using the one that is easiest for employees to have on hand, but hardest for others to get a hold of. Trying to make this relatively convenient for your employees will make it easier for them to comply, which will keep your business more secure. Multi-factor authentication is a measure that should go hand-in-hand with training your employees to use strong passwords.

Account for all devices—including mobile—in your security processes.

Very few companies still limit employee access to business assets strictly to desktops at work. There is a growing trend of employees being able to work remotely, even if it is not full-time. A recent study showed that as many as 70% of employees work remotely at least once a week. Whether working from home, a rented office space, or on-the-road, they are using their devices to log in from a distance, well beyond the secured confines of your office. This figure was accounting for full-time employees; contractors only increase the number of remote workers further.

The security processes implemented at your company needs to account for how all of your employees are accessing company resources. Email access on mobile devices is one of the most common ways in which employees take their work on-the-go, and so it’s a strong starting point for building out these protocols. Because confidential company information is being accessed on these devices via networks over which companies have no control, it is critical that both the email servers as well as the devices being used have robust security systems in place.

While new improvements continue to roll out to tackle these issues, solutions that work across all devices are the norm. Security software, as well as encryption tools, can help protect data regardless of the device, particularly when combined with encouraging employees to log-in via secure VPN networks. Cloud options for data storage are offered by providers with a menu of security options; it’s worth walking through your needs and investing in top-quality solutions.

Document your security processes.

With all of the work that goes into developing security processes, even more needs to be carried out to maintain their implementation and ensure that they remain up-to-date with new tech trends and emerging risks.

This is a vast and complex undertaking. All existing assets must be brought onto any updated infrastructure. Employees must be set-up for and onboarded to the security procedures, and checkpoints must be established so that their compliance may be monitored. Systems must be monitored for any breaches, as well as smoothly updated across all users and data to accommodate any new vulnerabilities that arose since the previous update. Different components, whether hardware (including different devices, such as mobile) or software, may experience issues with any updates. New members of the internal information technology must be introduced to the systems while existing members must stay abreast of any new developments; even team members working simultaneously on the same project must address potential communications issues.

Thorough documentation of processes helps achieve this by providing an objective record of the systems in place. This can be used for onboarding; for internal audits; for evaluating alternatives or potential improvements; and even for reviewing the source of vulnerabilities and providing accountability should an issue arise. This sort of record-keeping is an essential component of transparency in company policy and helps enforce quality control on internal processes. Of course, it must also be protected with the highest measure of security since it arguably contains “the keys to the castle.” Decentralizing its storage and scattering protected, encrypted components of it across multiple storage solutions can help protect company assets from the sort of large-scale breach that could otherwise bring your data assets to their knees.

And so, the large-scale Microsoft breach serves as a reminder that active vigilance must always be maintained over internet security, without relying entirely on one single individual, provider, or service. No single entity can be trusted to be entirely safe when major players like Microsoft are clearly vulnerable, despite the teams of brilliant engineers hired to implement safeguards and the millions of dollars invested in diverse preventive measures. Every business needs to be proactive in protecting itself through rigorous internal standards, ranging from staff training through the implementation of mandatory security precautions, to minimize the risk of vulnerabilities being exposed and exploited. Factoring in every employees’ data paths and employing multiple layers of overlapping security efforts at every step of the way—and documenting these processes for easy internal accountability and refinement—are critical for business informational security in this highly connected digital age.

As the digital community continues to expand to include more individuals and more devices, enforcing cybersecurity becomes more complicated. The number of opportunities and vulnerabilities for hackers to leverage is continuously growing; it is imperative for businesses to take proactive measures to protect themselves. With new terms and acronyms constantly emerging to refer to these issues, it’s helpful to make sure you and your team are on the same page with the vocabulary you use.

We’ve compiled a list of some of the most common words and phrases surrounding cybersecurity issues.

• Access control – This is the sequence of steps by which requests to retrieve information are approved or denied. The phrase actually originates from the terminology used to refer to gaining entry to physical facilities.
• Active content – This is the dynamic media — including JavaScript, polls, and animations — that runs on a site. In users with low-security settings enabled, this media automatically runs, opening the door for scripts and software to carry out other functions behind-the-scenes and unbeknownst to the user.
• Adware – You see this pop up when you get unwanted advertisements appearing on your screen when you visit certain sites. Adware is highly problematic because it can not only disguise itself as a legitimate site and trick you into clicking buttons that actually trigger the download of software that can track you to collect data on your activities, but it can also add harmful software to your device.
• Authentication – This refers to the sequence of steps by which the identity of a user or device is verified. Single passwords are the simplest form of authentication. Current best practices are for multi-factor authentication, where multiple different checks are used to verify identity since hackers are less likely to be able to provide various forms of verification.
• Blacklist – Any collection of users, devices, or other entities that are not permitted access privileges.
• Bot – An individual device that has been fed programming to act maliciously under the remote control of another administrator.
• Bug – A functional glitch or imperfection present in a device or piece of code.
• Certificate – This is virtual confirmation of the identity of a specific entity. This is usually issued by a Certificate Authority (CA) and is something that can be verified. When you visit a secure site, for example, your computer checks the site’s security certificates and in this way determines that the site is secure.
• Data breach – Any event where information is shared with an untrustworthy party or opened up to an unsecured environment.
• Data mining – The analysis of large data sets to identify previously unknown patterns or relationships. Often used towards positive ends, such as in medicine to discover health trends in populations or in academia to characterize social patterns, data mining can also be employed for malicious purposes by hackers.
• Distributed Denial of Service (DDOS) – This is a form of attack that targets a specific server or network of servers, causing a massive, sudden surge in traffic with the intent of shutting down the servers. One of the most common ways for this to take place is for a hacker to use malware to gain access to several machines connected on the same network; these can then be controlled by the hacker or directs them to flood the network servers.
• Encryption – This is a process of data conversion that transforms it using a secret code into a sequence that requires deciphering to be able to use; only authorized entities have the means to decode this sequence and access the data contained within.
• Firewall – This can be constructed using software and/or hardware, but at its core, it sets a specific set of access permissions in place that control who can access a particular network. Secure firewalls offer several layers of protection from hackers and their malware.
• Honeypot – This is a fake vulnerability that masquerades as a weakened part of your system or network, in an effort to bait a potential hijacker or other threat. It can be used as part of a security plan as a way to monitor whether the system or network is currently a moving target for any threats.
• Keylogging – This is generally a malicious practice where keyboard input is secretly monitored as a way to keep tabs on a user’s activity. Aside from the violation of personal privacy inherent to this, this is particularly dangerous as it gives hackers access to input personal details such as credit card information and passwords.
• Malware – This is a broad term that refers to any software that intrudes upon a computer system’s process in an unauthorized manner.
• Phishing – This refers to the practice of using false communications to deceive people in a way that elicits their sharing of personal information and sensitive details. One typical example of phishing is when scammers send emails pretending to be the Internal Revenue Service or a bank, and scaring recipients into believing they are in trouble and need to resolve a conflict. This resolution always requires the user to share details so that they may be identified.
• Ransomware – This is a form of malware that cannot be removed until payment of a ransom is received by the malicious instigator. The most common avenues for spreading ransomware include infected websites as well as phishing.
• Spoofing – This refers to any method by which a user is conned. Successful spoofing is what leads users into sharing their details with the malicious party. For example, the impersonation involved with many phishing scams is an example of spoofing.
• Spyware – This is malware that is secretly placed onto a system and monitors the user’s activities.
• Threat – This is an imminent risk to exploit known or unknown opportunities for malicious individuals or organizations to infiltrate a system or network.
• Virus – A piece of programming code that can secretly enter a computer, replicate, and then be transmitted to other computers.
• Vulnerability – This is any potential opportunity for malicious individuals or organizations to infiltrate a system or network. Threats exploit vulnerabilities; and so, it might be a flaw in design or a gap in security protocols.
• Whitelist – The opposite of a blacklist, this is a list of exclusions to a particular security rule, generated because the members of the list are known to be trustworthy.

Strong internet security teams are continually assessing the risks of their systems to prevent emerging vulnerabilities and consistently triage the highest risks associated with their systems and networks. The field of cybersecurity is continuously evolving as hackers riff off of existing malware and continually discover new vulnerabilities to exploit.

As technology continues to evolve and become capable of achieving new things, each advance also opens the door for new malicious acts and further sophistication in security breaches. It is the job of cybersecurity teams to always remain one step ahead and build their information systems in a way that prevents hackers from successfully infiltrating in any way.

The Tallahassee Democrat reported on April 5^th that a large sum of money had been stolen from the city of Tallahassee’s employee payroll. The perpetrator is suspected to be a foreign hacker.

What was stolen in the hack?

The breech diverted approximately $498,000 from the city payroll account. Still, all city employees have received their earned paychecks. This hack was the second time in less than a month that a breach of city security had occurred.

How did the attack occur?

The city of Tallahassee employs an out-of-state third-party vendor to host their payroll services. Their employees should be paid regularly through direct deposit. However, a foreign hacker apparently targeted this third-party vendor, effectively redirecting the direct deposits to their own accounts.

The city of Tallahassee found out about the breach when their bank alerted them. Of course, employees found out simultaneously when they awoke to realize they had not been paid on payday.

Is there any way to get the money back?

In the majority of large scale hacks, stolen funds or data is difficult or impossible to retrieve. Still, with help from their bank, the city of Tallahassee has managed to recoup approximately a quarter of the stolen money.

They continue to pursue criminal charges against the hackers with the aid of law enforcement and their insurance provider as well.

How do cyber attacks like these occur?

Successful cyberattacks usually start with some form of an email hack. This is usually achieved through phishing.

In fact, before the most recent hack of the city of Tallahassee, an email had been sent out that appeared to be from the City Manager. It was actually from an outside hacker who had included a virus disguised as a Dropbox link in the email.

While it is not suspected that this email was related to the stolen payroll funds hack, this does happen. “Phishing” emails can help hackers procure useful information about accessing in-network files and accounts.

How can you prevent hackers from attacking your business?

Large municipalities such as Tallahassee City are increasingly being targeted in cyber attack thefts. But the truth is, any business — or individual, for that matter — can fall prey to a cyber attack.

Unfortunately, the retrieval rate on hacking thefts is not high, meaning that prevention is key. The best way to prevent a hack is to prevent phishing, as this is how most hackers access your systems and accounts.

Make sure that everyone on your staff is keenly aware of what to look for in terms of phishing emails. When in doubt, suspicious emails should be left unopened. Or, at the very least, links should not be clicked, and personal or account information should never be handed over unless it’s sure the request is legitimate.

It’s also important for businesses to employ the services of a reputable and experienced IT services provider. Look for one who specializes in cybersecurity and has experience dealing with hacking prevention.

Artificial intelligence and robotics are poised to change the entire economic landscape over the coming decades, with an estimated 30% of existing jobs poised to be taken over by robots by 2030. Nowhere is this more evident than in healthcare. Many healthcare tasks are routine and prone to human error, making them prime targets for automation. At the same time, patients and ethics experts remain skeptical as to how robots may replace the expertise and compassionate presence of human medical providers.

Current Role of Robots in Health Care

Many people assume that robots in medicine remain years away, but the technologies currently deployed in medicine may come as a surprise. The first robotic device for surgical procedures, the da Vinci Surgical System, was initially approved by the Food and Drug Administration in 2000. It has performed more than 20,000 since, offering safe and reliable surgical interventions overseen by a human surgeon.

Surgery is not the only area of medicine where robots have made an impact. Powerful UV light-emitting robots disinfect surfaces and entire rooms, reducing risk of hospital-based infections such as MRSA or C. diff. Prosthetic robotic limbs interface with the nervous system to restore movement and the sense of touch to amputees. Automated dispensing robots limit medication dispensing errors in pharmacy settings. And clinical training robots offer lifelike simulations of medical conditions to help doctors during their training.

Future Applications of Artificial Intelligence and Automation

With each year, the role of automated systems in health care continues to expand. Industry experts predict a major shift in how health care is delivered over the next few decades. For example, robots are perfectly poised to increase access to medical services in rural or underserved areas. In a telehealth model, robots may collect routine clinical information such as a patient’s blood pressure, heart rate, breathing, and presenting symptoms. A remote specialist can then use the clinical information to make a diagnosis and offer a treatment plan.

Robots may also be deployed in rehabilitation settings to assist with physical therapy for patients with spinal cord injuries or neurologic diseases. Integrating robotics with virtual reality can help patients improve mobility, balance, strength, and coordination.

Human-sized robotics systems are not the only ways that robots may revolutionize medicine. Microbots or nanobots are tiny mechanical devices being developed to deliver drugs to specific sites. Currently, chemotherapy and other medical interventions cannot be specifically targeted to one area of the body. Researchers are developing microbots and nanobots made from biodegradable materials that can deliver medications without being attacked by the human immune system.

Limits of Robotics in Health Care

Despite the advantages of artificial intelligence and automation, there are significant drawbacks when considering how to provide high-quality clinical care. Take, for example, the experience of Catherine Quintana, whose 78-year-old father was taken to Kaiser Permanente Medical Center in Fremont, CA, due to chronic lung disease. Quintana was shocked when a robot rolled into the room to deliver some medical news — that her father was dying and that the only remaining treatment was palliative care.

Though extreme, this example points to one of the fundamental limitations of automation in health care. Even with cutting edge automation technology, robots are incapable of passing as humans. In particular, they cannot convey human emotions and struggle to handle complex questions. This limits the role of robots in health care. Though they may be used for some types of automation, when it comes to discussing complicated chemotherapy regimens with an oncologist or delivering the news that a loved one has Alzheimer’s disease, we continue to crave human touch.

Despite these limitations, robots have a clearly defined role in our medical landscape. Routine tasks with a high potential for human errors are perfectly poised to be taken over by automation. The ultimate question is how we, as patients, will react and adapt to this new era of robotic medicine.

The healthcare industry is currently facing a crisis. Hounded by criticism of insufficient access to providers and poor bedside manner, skepticism abounds on the part of patients and their families. But with administrative tasks and paperwork at an all-time high, how can healthcare teams find the time to give their patients the attention and information they need?

Fortunately, digital communications have evolved in parallel, with new means for patient contact—from email through texts, apps through social media—developing with built-in security standards and measures. This wave of digital communications is smart to the potential risks of protected health information (PHI), and strives to be HIPAA-compliant wherever possible.

Ensure patients have all the content they need.

Today’s digital messaging lends itself to customization. Choose from emails, SMS text messages, designing your own app, using existing messaging apps (WhatsApp and its peers), social media, browser pages, and more.

From all of these potential avenues, the choice as to which is most appropriate will be clear based on the demographics of the patient population being served. While elderly patients might not be all over Snapchat, this group might tend towards a specific operating system and platform—e.g. the Apple iPhone—which could shed some light on the ideal communication platform to employ with them.

Formatting the materials to fit the platform being used while maintaining universal accessibility is another key consideration. But as the adoption of digital communication continues to grow and the number of solutions expands, these problems will be incurred less frequently.

Leverage AI for one-on-one attention—while saving clinical time.

The knowledge of which specific channels are preferred by patient populations being served can be used to build solutions that enhance the patient experience. For example, if 90% of patients access the provider’s website, a desktop-friendly chatbot could be a worthwhile investment.

Via advances in natural language processing (NLP), chatbots have been evolving to respond more appropriately to input than ever before. For patients, they reinforce an environment where it is not only safe, but even advisable for individuals to ask questions. These patients and their loved ones can get the answers they need without costing themselves or providers any additional clinical time.

Chatbot responses can be programmed to answer frequently-asked questions, as well as escalate potentially troubling scenarios. They can help handle feedback surveys and check-ins for patients who are post-op or who have chronic conditions. In fact, Gartner estimates that by 2020, 85% of consumer interactions will be managed using automated platforms like chatbots.

The form these AI interactions takes is not strictly limited to the written word. This flexibility in format allows accommodations to be made for any disability. People who have trouble seeing can use voice-activated platforms akin to Amazon’s Alexa device, so they can then hear the answers to their questions and use their voices to navigate through their options.

Sustain easy, consistent process automation.

Being able to program chatbots or other response-generating platforms to automatically provide content based on contextual cues ensures that information is delivered where it’s needed, and to resolve the questions patients, caregivers, and family members might have. Automation allows this to happen anywhere; patients are not bound to the clinic in order to resolve their queries, but rather can access the information they need anywhere—including in the privacy of their own homes.

Why not use these advances in the healthcare space to drive patient accountability, allow consistent communication, but also free up providers for situations where one-on-one attention is critical and does not lend itself to automation? Freeing up providers to intervene during emergencies or counsel patients emerging issues could drastically increase the rate of positive outcomes. Routine follow-ups and visits could be expedited, reducing their burden on clinical staff.

In fact, the use of digital platforms allows for the seamless integration of all of these solutions into patient administrations systems. This is how to render those systems the de facto central hub for patient communication and record-keeping. Using surveys to interact with patients also allows information and feedback to be gathered and automatically recorded to patient charts; everything from ‘bad days’ through missed appointments can be easily accounted for without any additional time spent by office staff.

This is a snapshot of where digital communications are currently, but it will only continue to evolve as the general public continues to incorporate these channels further into their lives. The most critical fact to keep in mind is that digital communication is what the public wants. For example, a recent Healthcare Communications survey in the UK found that 68% of patients surveyed wanted to be able to manage everything about their appointments online.

This might seem like a no-brainer as the number of digital consumes continues to grow with increased adoption. However, the fact that individuals are not becoming “burned out” on tech and digital communications but instead are seeking further avenues to implement it in their lives is significant. This bodes well for future implementations.

Staying ahead of the trends and making sure practices leverage the latest technology and communication will not only make sure patients’ needs are met, but will boost their morale and increase the likelihood that they will comply with provider recommendations.

More than ever, today’s CFOs are expected to have a degree of tech savviness. Big data and analytics are tools that are just too powerful to ignore in the CFO suite. If you’re not particularly tech savvy, harnessing the power of these tools to the fullest extent will remain out of reach.

Why You Need to Become the Tech Savvy CFO

It’s crucial to understand just how powerful today’s technology tools are for financial leadership. Whatever the nature of your business and industry, technology can empower you and your staff in the following ways.

Forecasting and Risk

Forecasting has always been a part of the CFO’s role. Forecasting today can be much more accurate, thanks to the rich data that’s available. CFOs must have the skills to understand and interpret that data (or they must employ people who can). Use robust data and analytics to reduce the amount of guesswork in your forecasting.

Risk management is another responsibility under your purview as CFO. Forecasting and risk management are interrelated, of course, and both have traditionally involved a fair bit of prediction and uncertainty. If you’re like most CFOs, you’re a fairly risk-averse person. Reduce the risks of prediction and uncertainty by basing your decision-making on data wherever possible.

Advanced Data Visualization Techniques

All this data that companies now have access to can quickly become overwhelming. Today’s tech savvy CEOs harness the power of advanced data visualization techniques to bring the most important information to the surface. These techniques include making dashboards for interacting with the data and scorecards for presenting it to users at all levels.

Predictive Analytics

In the 1960s, business predictions were often made around a conference table in a smoke-filled room. They were based on some amount of data, but hunches, opinions, and interpersonal power dynamics often played an outsized role.

Today, there’s a better way. Predictive analytics are driven by algorithms and data, not by cigars and opinions. Leverage the power of all the data you’ve collected into predictive analytics. While they are neither perfect nor omniscient, predictive analytics remove human biases from forecasting. This powerful tool can enhance your effectiveness as a CFO.

Adjust in Real Time

The CFO that understands how to use these new tools can be agile, adjusting in real time based on the data that’s coming in. Many marketplaces change rapidly, and a 6-month-old report may no longer ring true. Big data and analytics let CFOs make these quick adjustments as they continually monitor data and adjust their predictions.

Drive Growth

Acting on your analysis of data can often spur on innovation and growth. Creating efficiencies aids in growth, and as you do so you’re likely to discover new business opportunities, such as a hole in the market that your company is suited to fill.

How to Become the Tech Savvy CFO

Having a tech savvy CFO brings many advantages to a company. As a result, being a tech savvy CFO makes you a much more valuable asset. If you’re not there yet, here are a few quick tips for how to get there.

Learn Analytics

Yes, this sounds basic, but if you don’t understand how to use analytics to do the things we’ve talked about, you need to learn. If others in your company already know analytics, leverage your rank. You are the CFO, after all—make it part of their job to teach you. If you’re in a smaller firm that has yet to embrace big data and analytics, it may be time to go get a certification in this area.

Meet Regularly with Experts

Your CIO, if your firm has one, should be well versed in the sorts of technology we’ve discussed today. Meet regularly with your CIO and ask questions. Do the same with other experts in your network. They aren’t the finance people, so they may not readily see how big data and analytics can transform your role. As your understanding grows and you learn to them the right questions, you’re likely to discover breakthroughs together.

Read What They Read

Sites like CIO.com are go-to resources for CIOs, but you can benefit there, too. Not every article will apply to what you’re learning, but many will. Reading sites like these will increase your overall tech comfort level.

Leverage the Data

As your understanding of analytics grows, you can start leveraging that data in real, meaningful ways. It’s easy to get overwhelmed in a deluge of data if you don’t have the tools to parse through it. At the same time, it’s possible to parse the data so finely that you miss valuable conclusions. As your comfort level grows, you’ll improve in leveraging data to the fullest extent.

Educate Your Team

Last, you need to educate your team. As you journey to become a tech-savvy CFO, teach your team what you’re learning so that they can help you win using data and analytics.