Incorporating the IoT to Improve Connectivity to Your Customers  

IoT Business

Learn how the advent of the Internet of Things has improved device connectivity and enabled businesses like yours to delivery consumer-driven solutions.  

IoT Business

The Internet of Things (IoT) was first conceptualized in 1982 through the internet connection of a Coke machine at Carnegie-Mellon University which was able to report inventory levels and the temperature of vended sodas. From this beginning 37 years ago, IoT has led to greater connectivity between all types of devices for the purpose of providing and sharing data. What would have been unimaginable 50 years ago in our parent’s and grandparent’s time has been realized today as televisions, refrigerators, telephones, and other types of consumer electronics have been enabled to talk to one another.

IoT has also helped businesses like yours learn a lot about your customers. The way in which consumers interact with IoT-enabled devices provides businesses with valuable data which can be used to transform products and services and solidify customer loyalty. This leads to the development of additional products, increasing the things-to people ratio, which is the amount of consumer products owned per person. As the things-to-people ratio continues to grow, businesses have seen the development of smart homes, smart phones, autonomous vehicles, etc., as well as an increase in the generation of data which enables machine learning and greater human-to-computer interactions.

This white paper is an exploration of the advances in IoT and how it is moving greater automation of connectivity. This automated connectivity is critical as the number of IoT devices grows, warranting cost effective ways to remove the complexity of these connections. Businesses understanding the importance of managing the connectivity of their IoT devices will be best positioned to gain market share.

What is the Internet of Things (IoT)?

A simple definition of Internet of Things is the ability of all things, people, machines, objects, etc. to transfer data between each other over a network. Each of the things interacting through the IoT network are given what is called a unique identifier (UID), which is a label or identifier assigned to the IoT things (i.e. people, machines, objects).

IoT connectivity is responsible for moving the number of connected devices from millions to billions. According to business consultancy groups McKinsey and Gartner, there are more than 26.7 billion IoT connected devices in 2019. The number of things to people in 2020 is projected to be 26 times more in 2020, while the number of connected devices will grow by three times as many or 75.4 million in 2025. The popularity of IoT can be seen in the use of smart and connected devices in the home. This includes applications such as smart thermostats, smart locks, and smart refrigerators. Smart security, one of the poplar home uses for IoT connectivity, has a market expected to grow to $22 billion by the year 2021. Additional markets expected to grow as a result of IoT are home entertainment systems and energy management technology.

How IoT Has Spawned Greater Connectivity

The global IoT market is worth $1.7 trillion in 2019. Of this amount, 35 percent or $595 billion of this value is attributed to hardware, such as smart home peripherals, smart phones, etc. Countries North America, Western Europe as well as China make up two-thirds of the installed IoT devices. It is also worthy to note that, on average, 127 new IoT devices are connected to the internet every second across the globe. Industry is also gravitating toward a greater use of IoT connected devices. Industrial IoT, which comprises 17 percent of the IoT related projects on a worldwide basis, has a market value projected to reach $110 billion in 2020.

Growth of Personal Digital Assistants

The development of new devices has advanced connectivity and has also been responsible for this growth. Over the past years, the advent of personal digital assistants (PDAs) or virtual assistants, from Apple’s Siri, to Google Voice has meant less reliance on manual typing and a greater dependence on voice assistance. The global intelligent PDA/voice assistance market was worth $2.4 billion in 2018and is expected to increase a total composite average growth rate (CAGR) of 40.4 percent for the period (2018 – 2025).

IoT Growth in the Healthcare Industry

The healthcare industry has been a direct beneficiary of IoT connectivity. Such innovations as robotic process automation (RPA) and artificial intelligence (AI) have helped healthcare sector providers diagnose disease, manage chronic conditions, and bring the cost of care for patients and providers. The healthcare IoT market value was $60 billion in 2014 and expected to reach a value of $136 billion in 2021, a CAGR of 12.5 percent. Growth in the connected devices segment of the market is projected to be the best for the healthcare industry. Asia-Pacific countries are expected to experience a CAGR of 17 percent for the measuring period of 2015 – 2021. Why is IoT important to the Healthcare sector? It provides companies with the ability to grow therapies and processes useful in meeting needs and improving healthcare outcomes through improved:

  • Monitoring of patient health
  • The operation of healthcare clinics
  • The management of workflow
  • Imaging connectivity
  • The measurement of the effectiveness of fitness, health and wellness programs
  • The development of new drug therapies

IoT +37 Years: What Does the Future Hold for Connectivity

The future of IoT is more than bright. The explosion in the growth of IoT connected devices, over 300% between 2019 – 2025, is forcing businesses to invest in this technology to experience a cut of the nearly $500 billion in profits generated from more than 2 billion devices in use in 2019 alone. Companies are maneuvering to position themselves as leading innovators in the development of IoT devices and products. For example, Google invested $3.2 billion to purchase Nest products and paid another $2.1 billion to acquire FitBit, in a bid to compete with competitor Apple’s Apple Watch. These acquisitions are strategic moves designed to gain further control of the IoT market and offer an array of products which can capture valuable consumer data and further the development of needed products.

IoT has not reached its zenith in terms of depth or breadth of market. What was thought to be the limit when smartphone technology was first introduced to the market more than 25 years ago on August 16, 1994 (IBM’s Simon Personal Communicator), the world and consumers have seen an astronomical amount of growth in the number of devices (“things”) with the capability to interact with us and each other to provide important data and operate free of human-to-computer interaction. Automated homes equipped with functions which can clean your floors, issue notifications when you are running low on milk, provide real time video and alerts when an intruder approaches your home are more than the dreams of 1960s science fiction writers like Isaac Asimov and Philip K. Dick.

Bottom Line

Businesses that learn to involve themselves in IoT connectivity will find themselves at the leading edge of this technological advancement. IoT means a greater opportunity for profitability through the mining of data and predictive analysis provide by data scientists to determine consumer interests, wants, and needs. The application of IoT in a business setting helps businesses leverage knowledge gained from their customers in ways unforeseen when the internet was first made available to the general population. IoT connectivity leads to higher profits and better consumer loyalty, as seen in the rapid growth of IoT’s market value.

Businesses will also come to understand that improvements in their IoT offerings will lead to improved employee morale. IoT connectivity provides businesses with valuable consumer data which in turn leads to the creation of products designed to improve quality of life. The data gleaned from IoT devices can be synthesized efficiently and seamlessly, creating a data-driven environment which reduces employee stress and leads to greater creativity. This is another benefit IoT connectivity provides your business and its bid for greater profitability.

It is important to recognize that any limits on IoT connectivity are those which consumers set. A greater reliance and dependence on digital devices to provide us with the comforts of daily living will be tempered by attempts by hackers and other nefarious actors to compromise these machines for their personal gains. Proper monitoring and safeguards must be put in place; businesses must constantly gauge consumer interest for the next best thing and balance that desire against the ability of that “thing” to provide a solution and not be another gadget that is a potential hazard. A proper read of the data IoT devices provide will help guide business toward smart development in keeping with the dramatic increase in value in the IoT market, leading to better products, happy consumers, engaged employees, and a better envisioned world.

Downtime Is Extremely Expensive – Can You Actually Afford It?

Computer Network Downtime

Downtime is bad for business.

Whether you agree or not, it’s a fact – just a couple years ago, small businesses with up to 50 million in annual revenue reported that just a single hour of downtime cost them $8,600.

Computer Network Downtime

Why Does Downtime Cost So Much?

The main cost of downtime is not the fix itself, it’s the halt in your business’ productivity. If an IT-related or natural disaster occurs and takes critical systems offline, employees will be unable to complete their tasks, yet your normal business expenses will carry on.

During that time, you incur all the expenses of running a business without the revenue you would usually generate. Even if downtime does not grind everything to a halt, some of your staff will have to divert themselves from their normal work to mitigate the problem – again reducing productivity. Furthermore, while your systems are down, you can’t deliver services or sell products to current and potential new clients.

Not all of the costs associated with downtime have a tangible price tag. The trust of your clients and the reputation of your company are invaluable assets that can erode with prolonged or frequent downtime issues. A diminished reputation can negatively affect your future business opportunities.

Some downtime is inevitable, but much of it can be prevented and mitigated.

What Are The Primary Causes Of Downtime?

  • Power Outage: If your power source fails, that can lead to a long list of complications like servers going down and lost, unsaved data.
  • Cybercrime: Cybercrime has increased in recent years and is still on the rise. All it takes is one employee opening a malicious attachment and your business data could be held hostage.
  • Human Error: Accidentally unplugging key equipment, overloading the system, and improper installations can all cause downtime, but maintaining certain policies and procedures can cut down on human error.
  • Natural Disasters: Hurricanes, tornadoes, floods, and earthquakes happen. Having a plan for getting back to business if the unthinkable happens is the fastest way to recover.

What’s The Best Way To Prevent Downtime?

…by stopping it in the first place.

The best way to approach downtime prevention is proactively – you need to keep an eye out for system issues that can spiral into total stoppages. You need to implement backup technologies and best practices to prevent outages. You need to enhance your cybersecurity to protect against cybercrime.

Unfortunately, that’s a lot for you to handle on your own, especially when have other work to see to. That’s why a managed IT services company can be so helpful. They’ll provide 24/7 active monitoring of your systems, business continuity best practices and cybersecurity services that will keep costly downtime at a minimum.

 

5 Ridiculous Ways Technology Transforms Your Industry

Technology Transformation

Incredible Ways Technology Has Changed How We Do Business

How has technology transformed your industry? Explore 5 important ways technology has recently changed how we do business, delight customers and grow businesses  

Technology Transformation

It doesn’t matter which industry we’re in. Technology is a must. It makes things faster, safer and better when used right. It can propel our businesses and leave competitors in the dust. But many businesses are simply unaware of what’s out there and just how accessible it is to any size business. Here are five incredible types of technology that are completely reshaping how we do business.

1. Big Data Revolutionizes Data-Driven Decisions

As business leaders, we’ve always made decisions based upon the available data. But more recent advancements in data collection and analysis have made it easier and more cost-effective to gather data and put it to work. We can make smarter decisions about the direction of our companies where we once had to rely solely on gut instinct.

We can enhance customer experiences to not only increase sales but to raise that net promoter score, building trust, loyalty and powerful word-of-mouth.

2. We Reach Customers in More-Effective Ways

87% of purchases now begin online. This doesn’t mean they buy online, just that they found the product or service online.

Digital marketing technology is a business technology that has transformed how we connect with customers. We can now more precisely target audiences to enhance the relevance of our ads to specific customer bases.

Thanks to the pay-per-click model, we don’t pay for advertising that doesn’t work. And thanks to optimization tools we continually improve strategies to find what does work.

Digital marketing allows us to reach customers where they find new products and services through:

  • Search engines
  • Social Media
  • Review Websites
  • Influencers

3. Virtual Reality Gives Employees Real-World Training

From healthcare to aviation to manufacturing, virtual reality (VR) and augmented reality (AR) are helping schools and businesses train employees in very lifelike situations. Employers can help employees become more comfortable in likely scenarios by allowing them to experience it in an artificial environment first. They can learn how candidates may perform at their jobs before sending that job offer to get the best people into important roles.

4. Enhanced Business Continuity Tools Reduce Down-time

From more effective ways to keep business and customer data safe to data backup to re-routing of important functions to remote locations, advancements in technology are making it easier for businesses to both avoid disasters (physical and virtual) and keep moving when disaster strikes.

Developing a strategy, deploying tools effectively and putting a plan into action, of course, take know-how, but those involved in business continuity planning now have a wider range of tools for the business continuity tool belt.

5. Better Technology for Less Cost

It’s not news to anyone that technology gets cheaper the longer it’s in use. And by now many amazing technologies have been around long enough that they’re getting very affordable, even for small business. Yet, many businesses still aren’t taking advantage of them because they don’t know what’s out there.

That’s why it’s important to work with technology experts who can introduce you to technology you’ll find useful to cut costs, enhance productivity, delight customers and more. To learn more about how technology is disrupting every industry, follow our blog.

Who Wants to Become Part of an Elite Group of Business Executives?

Elite Business Group

Who wants to move past being a typical company with lackluster cybersecurity measures that WILL eventually lead to a data breach?

Elite Business Group

Welcome to the progressive group of business executives who take their reputation, their customers, and ultimately, their livelihood seriously. At this point in time, only 32% of executive board members are briefed on their company’s cybersecurity on a quarterly basis. What difference does their involvement make? Studies show 70% of breaches result from people and process failures within the company. This 32% of executive board members account for a unique group of people who want their business to thrive. They don’t settle for lackluster cybersecurity measures that will be their downfall.

And now we welcome you to join them…

Your internal information technology person or team will certainly thank you for advocating for more when it comes to cybersecurity. Why? Because they know the risks. Sophos found that the average cost of a ransomware attack on businesses is $133,000. Investing in cybersecurity now can save you hundreds of thousands later on.

{company} will help you reach a level of advanced cybersecurity wherein you can rest assured knowing you’re at a low risk for becoming yet another victim of an attack. If you are seriously motivated to become part of an elite group of business owners, you will be glad to hear that we’re able to make sure:

  1. Your board of directors is fully involved in all of your cybersecurity efforts
  2. Your entire staff (everyone on your payroll) is aware of proper policies and procedures
  3. Your complete infrastructure is protected with the right cybersecurity solutions

These 3 simple factors are absolutely crucial to setting you apart from the majority of companies with lackluster cybersecurity measures.

Our offering is based on more than simply implementing the right cybersecurity controls controls, but on helping a select group of business executives set themselves apart from the rest.

We are well-aware that this offering is not something every business executive will respond to, but the ones who do will learn the behaviors, strategies, and policies necessary to persevere for years to come.

Cybersecurity Ventures found that another organization will fall for a ransomware attack every 14 seconds. We looked at the average cost of those ransomware attacks above: $133,000. For many, this is a hard cost to bounce back from. Our team will help you learn the behaviors, strategies, and policies necessary to persevere for years to come. You’ll stay safe from:

● Malware

● DNS attacks

● Email scams and phishing

● Spyware

● Viruses

● Data leaks

● Ransomware

● Internal threats

What makes us the right choice to help you achieve all of this? Since 1988, we’ve been combining all of our expertise, experience, and different perspectives with the information we’ve gathered working with a multitude of companies to create an offering that works. We’re backed by:

  • Multiple industry awards, including MSP501, the Inc. 5000, the CRN MSP 500, and more.
  • Multiple industry certifications, including Microsoft, HP, VMware, EMC, Fortinet, and more.

So what do you need to do?

If you’re ready to become part of an elite group of business executives, call me right away at {phone} or send me an email at {email} to talk about our offering. The behaviors, strategies, and policies necessary to persevere for years to come are YOURS if you’ll take them.

P.S.

If you’re not ready to become part of an elite group of business executives, at least take advantage of our FREE dark web monitoring – available only to the next 14 companies that request it.

This is a HUGE opportunity to find out what sensitive data of yours might be lurking on the dark web:

  • Leaked data from employees
  • Financial information
  • Trademark and copyright infringements
  • And more

Call {phone} or email us at {email} to claim your FREE dark web monitoring before we run out of availability.

 

Security Checklist for Business

Business Security Consultant

Security Essentials for Business

Cybercrime is on the rise, and businesses must be proactive with their cybersecurity programs. Learn what to look for when choosing an MSP for your organization.  

Business Security Consultant

Cybercrime is on the rise, and businesses must stay on top of their data security. A managed services provider (MSP) can help protect your organization’s data from breaches and cyber attacks. However, not all MSPs offer the services and features businesses need to stay on top of the latest threats. Below is a checklist you can use to decide if an MSP provides the optimum value in the short and long term.

Proactive Protection

Every MSP worth considering will have a proactive process in place to minimize issues and quickly resolve problems as they arise. Common red flags include a break/fix pricing model and overage charges. These usually point to an MSP that operates inefficiently and doesn’t prioritize your time, money, or security.

Below are some green flags that point to proactive MSP:

  • They provide you with up-to-date security software that you can use right from your desktop.
  • They provide round-the-clock administration of your network and servers.
  • Their help desk is easily accessible and includes a comprehensive knowledge base.
  • They communicate and implement an IT strategy that fits how your business operates.

Fast Round-the-Clock Response

Smaller MSPs may not have enough staff to respond to issues in a timely manner, let alone resolve them efficiently. Data travels 24/7, and you need an IT solution that can help you at any hour. Experienced MSPs employ a large team of IT professionals to ensure that all of their customers receive prompt service. They are also more likely to use state-of-the-art tools to detect, prevent, and resolve issues before they threaten your data.

A Team of Experts

Nearly every MSP will claim to be expert IT gurus. But talk is cheap, and failing to delve further into an MSP’s qualifications may cost you. Here are a few indicators that an “expert” MSP lives up to their advertisement:

  • They have a team of experts that specialize in every aspect of cybersecurity including software, hardware, cloud services, and networks.
  • They provide regular training and certification programs to their employees and have low turnover.
  • They document all services and processes provided.

Personalized Security Evaluation

Lesser MSPs will sit back and wait for you to call them about an issue. A reliable MSP will analyze your organization and create a strategic program that addresses its strengths and weaknesses. They will share and review these documents with you to ensure you understand the state of your cybersecurity and goals moving forward.

Scalability

A smaller MSP may provide great value for the time being, but they may fall behind when your business grows. A high-quality MSP understands the needs of small businesses and large enterprises alike. They have the tools and personnel ready to adapt to your evolving needs and goals. They may offer multiple price tiers, but communicate each plan to you clearly before you sign up.

Value

Pricing alone is a poor indicator of the actual value an MSP provides. Some will undercut their competitors while providing far less value, while others may charge a premium for inflated solutions that you don’t need. On the other hand, trustworthy MSPs will offer a fair price and stick to it. Don’t let the numbers fool you. Examine the content behind the price tag and you’re sure to make a smart choice.

Reputation

You wouldn’t hire someone without checking their references, and you shouldn’t choose an MSP without reading reviews. Many MSPs will post customer testimonials on their website, but there’s no real way to verify their legitimacy. Criminals may even pose as MSPs to get their hands on your valuable data. Search for the MSP’s name on unbiased review sites and read comments on their social media pages. A strong candidate will have a high percentage of positive reviews and be active on social media to answer questions and provide assistance.

Hopefully, this guide has helped you make the best choice regarding your MSP. Don’t be afraid to refer to this list when interviewing MSP candidates. You’ll get a much clearer picture of their offerings and be better equipped to choose who to trust with your sensitive data.

Is Your Business Prepared to Take Action to Upgrade Windows OS Before January 2020?

Windows 7 End of Support

Is your business still using Windows 7? If so, it’s time to take serious action to upgrade to Windows 10 before the service cycle ends for this popular platform.  

Very early in 2020, there’s a situation occurring that has the potential to affect thousands of businesses across the US. No, it’s not a direct cybersecurity attack from a known threat vector. Instead, it’s the end of the functional lifecycle of one of business’s most beloved operating systems: Windows 7. While some businesses have been in denial that they needed to upgrade, it’s not unusual for small to mid-size businesses to still be running Windows 7 even with the deadline looming only a few months away. For the past 10 years, Windows 7 has provided a secure and stable OS for business, but regular patches and security upgrades will no longer be released for Windows 7 past January 2020 — leaving your computers open to the dangers of cyberattacks.

Don’t Put Your Business at RIsk

Hackers have been watching Windows 7 more closely as it nears the end of its lifecycle, looking for vulnerabilities that can be quickly exploited once maintenance has expired for the platform. While Windows upgrades are delivered every few years, they have a general window of a useful lifetime of 10 years. After that period, Microsoft eliminates free support and provides only very limited paid support options for your business. It’s not unusual for businesses to skip upgrading their operating systems and still be on a Windows 7 platform. As of 2019, there are still approximately 36% of computers accessing the internet from a device running Windows 7.

Steps You Can Take to Avoid the Impending January 2020 Deadline

Depending on the size of your business and how many computers are utilizing the Windows 7 operating system, there are a variety of options for upgrade. You can install updates on individual computers manually, and there are a few options for getting access to a free upgrade version of Windows 10. Unfortunately, you might find that your computers are not quite fast enough or new enough to handle an in-place upgrade and you might need to either purchase new machines or make adjustments to your current business machines to get them ready. Windows 10 has different operating system requirements than Windows 7 or even Windows 8, and might place too heavy of a load on older machines.

Don’t wait any longer to upgrade to the latest and most stable version of Windows operating system: Windows 10. With only a few months left before the end of the full maintenance cycle, Windows 7 is quickly becoming one of the most dangerous items in your technology landscape, a problem that can be quickly rectified by working with your local trusted technology solutions provider to create an upgrade schedule. If you aren’t comfortable upgrading directly in the few months that are left to your business, there are plenty of options for short-term maintenance that your proactive IT partner can help you explore.

Managed Services SLAs: What Should You Expect to See?

Managed Services SLA

Key Things to Look for in Your Managed Services SLA

When you hire an MSP, you must sign a service level agreement. Here’s how to evaluate your SLA and ensure you’re getting what you expect from this relationship.  

Managed Services SLA

As if choosing the right managed service provider wasn’t enough, it’s also crucial to make sure that the SLA (service level agreement) you develop between your company and your managed service provider is sound and satisfactory.

Below, we’ll go over what you should expect to see within your managed services contract (SLA). We’ll also discuss how you should review this document with your lawyer to ensure you’re getting the proper value out of this relationship and doing what’s best for your business.

What does an SLA set out to do?

The core goal of a service level agreement between a company and the managed service provider they are hiring is this:

To outline the payment structure and service responsibilities of both parties and to specifically define and document exactly what services the MSP will offer, including what hardware and software is covered, daily monitoring services, troubleshooting services in emergency situations, response times, and more.

Of course, all service level agreements will be slightly different. Some will offer more or less information. Certain SLAs will include information about items such as liability protection for the managed services company. Still others will go into detail about expected performance standards.

What should you look for in your managed services SLA?

Your managed service provider will draw up the service level agreement. Ostensibly, this is a service level agreement they use and have used with all of their clients. It will, of course, be modified to fit the parameters and needs of your business and the unique relationship the MSP has with your business.

However, it should follow a general format. When your MSP shows you the service level agreement they have drawn up, you should expect to see the following:

Services Provided by the MSP

This section will outline exactly what services the MSP will be providing to you on a regular basis. This will often be based on the specific level of service that you have agreed to pay for.

For example, if you own a medium-sized business and the MSP you are working with has three levels of service, you may choose the mid-level of service as you don’t need the extent of services offered to larger businesses.

How Problems Are Managed

The overall services your MSP will provide will be based on daily, monthly, quarterly, etc. services. These are systematic tasks that will be undertaken regularly (such as monitoring security or providing software updates).

On the other hand, your SLA also needs to outline how troubleshooting and problems will be handled by your managed service provider. If you have an issue, for example, you’ll need a protocol for managing:

  • Responsibility: What areas of your company’s IT are they (your MSP) managing and monitoring?
  • Emergencies: What constitutes an emergency?
  • Response Time: If and when you report an emergency, what is the minimum timeframe that your managed service provider will respond within?
  • Reporting Method: How do you report an emergency? Will this vary based on the time of day or week? What information do you need to provide?

When Your MSP Is Available

Lastly, your SLA should outline when your MSP will be available on a daily, weekly, and yearly basis. What if you have problems in the evening after business hours? On the weekend? On a holiday? All availability times and any applicable extra charges should be documented.

Going over your SLA with your lawyer

Once you are satisfied with the service level agreement you have been provided with by your MSP, make sure to go over it with your lawyer. They’re on your side and will, therefore, be able to determine if any aspect of the SLA is unfair to you legally or could present potential problems.

Taking your time when reviewing your service level agreement will put your mind at ease and increase the likelihood that you and your managed service provider will enjoy a strong working relationship.

To Lease or Buy a Copier?

Copier Sales and Lease

Should You Buy a Copier or Lease It?

Trying to decide whether to lease a copier or buy a copier? Find out the pros and cons. See when buying or leasing may be the best option for your business.  

Copier Sales and Lease

No single piece of equipment in the office takes more of a beating than the floor-standing copier.

Day in and day out it endures transitions between high heat and frigid office temps, paper jam tug-of-war, lid slamming and endless pieces of paper traveling at lightning speed across its rollers. All of this demanding work takes a toll on the device, giving it an average lifespan of just five years in a busy office.

Eventually, you’ll find yourself needing to find a replacement and the question arises: should you lease or buy a copier? There’s no one-size-fits-all answer to that question. These pros and cons will help you make the right choice for you and your business.

Why Buy a Copier?

When you’re playing the long game, buying a copier is usually the less expensive option–when it comes to the cost of the copier. You’ll avoid finance charges and other fees. You’ll also avoid a hard credit check, which may impact your credit score. If you’re a smaller or growing business, you like to keep your credit as clean as possible.

And even if you did have to put it on credit, the printer is yours after you finish paying for it. Some high-quality floor copiers can last up to 10 years, especially if you’re not a high-volume office. So that may be a very good deal.

Okay. So it sounds like buying is the way to go. But wait! There are some cons to consider.

When Buying a Copier Isn’t Your Best Option

Since the dawn of time, technology has never stood still. And the rate of change is only getting faster. A bought printer may have everything you need today. But no one really knows what businesses may need in 10 years. That could put you at a competitive disadvantage against newer companies in the future with the latest technology.

If you needed to resell that printer because you weren’t using it like you thought or needed to free up cash, you might recoup 50% if you sold it immediately, but in 5 years, it would probably cost more for someone to move it than they’d pay for the copier.

Not unlike a car, it’s not going to hold its value.

If your rainy day fund is tapped out and you’d have to put buying a copier on credit, interest charges may make the copier cost a lot more than you think you’re saving by buying over leasing a copier.

Finally, an aging printer will also begin to require more maintenance to keep it running smoothly. And you might find yourself feeling like you have to keep it past its prime to get your money’s worth. That may cost you in employee productivity and lost wages.

Why Lease a Copier?

Leasing a copier does make sense if you need to have clear terms from month-to-month. You know upfront how much you pay each month and for how long. That’s often easier on the budget. If cash flow is tight and you’d have to finance a bought printer anyway, leasing may actually end up saving you money.

When your term ends, you’re not stuck with a printer that may now be outdated or breaking down. You can upgrade when you renew your lease. Or, depending on the lease terms, you may be able to buy the copier at the end of the lease for a minimal cost if it’s still working for you.

A newer copier needs less maintenance and functions more efficiently, increasing workplace productivity and reducing worker frustration around inadequate technology. If the leased copier needs maintenance or stops working entirely, that’s likely the responsibility of the leasing company.

That’s not an emergency expense you have to worry about.

When Leasing a Copier Isn’t Your Best Option

You will pay more for the leased copier than you otherwise would. Those pros of leasing listed above come at a price. It’s important to realize that those are what you’re paying for, not just the copier. In a way leasing is another way to manage risk. Not unlike buying insurance, you’re paying the leasing company to take on what would otherwise be your risk.

Every business has a certain amount of risk they’re comfortable managing and planning for. Leasing a copier may not make sense for you if you’re in a position where you can effectively manage more risk. That copier may last you 15 years or five. You just don’t know because lifespan is so strongly affected by how your office uses it.

Ultimately, deciding whether to lease or buy a copier is a very company-specific decision. So weigh these pros and cons and you’ll make the right choice for your business.

Using Managed IT Services to Save You Money

Managed IT Services

How Using Managed IT Services Saves You Money in the Long Term

Wondering how to make your business’ IT run better without costing more? One popular option to consider is managed IT services companies. 

Managed IT Services

Digitization. Network. Security. Mobile. As the average business sees more and more complexity in their IT requirements, it can become harder and harder to keep up with the necessary changes to protect your business’ interests and sensitive data. But what if the process could be easy without costing an arm and a leg? Managed IT services can provide this level of care, often at the same or even a lower cost than you would see using in-house employees. Here’s a quick look at how managed IT services can help make your business more efficient and effective.

Using Managed IT Services to Save You Money

Let’s start by defining what a managed IT service is and is not. A managed IT service provides you with a range of services. You pay a monthly subscription cost, and in exchange, the service takes care of your IT needs that are covered under those services. These services can include software updates, managed software-as-a-service options, backup services, website management and similar possibilities. Because they are responsible for these IT assets, these assets are carefully managed to provide you with optimum performance, security and efficiency.

Increase team efficiency by reducing downtime.

Well-run IT systems allow your employees to work at their highest levels of efficiency instead of focusing on computer problems and wasting their time updating systems and on hold with a help desk. Wouldn’t you rather have your people focusing on what your company is best at, promoting growth? When there’s a problem with your IT assets under your managed IT service, your employees don’t have to worry about fixing the problem – the managed IT service handles the entire process.

Every week, 140,000 hard drives fail. An estimated 44% of companies believe that an hour of downtime costs them about $10,000. Instead of having your companies having to stop their work and deal with distractions caused by an IT failure, they can simply continue on another device while the managed IT service takes care of the problem.

Enjoy peace of mind with better network and data security

Every day, we hear about another company that has had its data exposed through a security breach. In fact, in the first four months of 2018, over 260 million records containing sensitive data were exposed. You don’t want your company to be the source of the next big data breach, losing your company’s credibility and trustworthiness in the market, do you?

When you work with a managed IT service, their primary focus is making sure that your IT assets are current on all security patches, updates and anti-virus software, not the rest of the activities that your company undertakes. That allows you to focus on building your business, rather than about whether you’ll be one of the 60% of companies that go out of business within six months of a major data disaster.

Lower your company’s overall IT costs.

Though it seems counterintuitive that hiring out your company’s IT needs would save your business money, it’s actually been proven time and again. If you don’t hire a professional into your company, thinking it’s an unnecessary expense for a small business, then you’ll have employees wasting time trying to troubleshoot their own computer issues or waiting on hold for help desk personnel. Even if you do hire in a professional to handle your in-house work, how will they spend their time if there isn’t enough work to keep them occupied?

For these reasons, businesses typically find that the expense of a managed IT service is lower than that of trying to manage their own IT assets in-house. Because the managed service is only focused on the IT costs of your company and is focused on improving their own efficiency, these companies are focused on providing you with the most efficient service possible. They’re able to share the cost of education, new technology and equipment across a number of clients, reducing the cost.

As you can see, working with a well-run managed IT service can save your company time, money and potential risk. Are you ready to consider the options that are available to you? We offer a range of services, either in a package form or a la carte, should you only want help with a couple of areas. Please feel free to reach out today to discover how we can help your business get ahead through solid managed IT service solutions.

Can Outsourced Managed IT Services Improve Profitability?

Managed IT Services

Outsourcing Managed IT Services Improves Business Goal Achievement

Industry leaders require a laser-focus on profit-driving initiatives. Outsourcing an organization’s IT oversight saves time, money, and keeps everyone on task.  

Managed IT Services

Whether you are a decision-maker for an upstart, mid-sized, or large corporation, outsourcing IT support, maintenance, and cybersecurity oversight can improve your operation. Managed services conducted by a third-party outfit with experience and expertise, brings high-level knowledge to the table that most business team members lack.

That’s generally because industry leaders staff their organizations with people who deliver profit-driving benefits. Managing an in-house IT team tends to distract from the goal-achievement tasks that keep an operation competitive and successful. Owners, CEOs, and other captains of industry with heightened IT needs would be wise to consider these five benefits of outsourcing.

1: Risk Reduction

Every business operates with a certain degree of risk. Those risks include fines for not meeting changing government regulations or falling behind competitors in cost-effective technology applications, among others. But perhaps the greatest threat that businesses of all sizes and every sector face are data theft and hacks. Without a doubt, less-than-adequate cybersecurity applications, protocols, and employee preventative training present the greatest threat to your organization.

2: Cost Consistent Budgeting

Entrepreneurs working hard to grow fledgling operations often have thin budgets. Every dollar counts and financial constraints generally do not allow for overspending. People in the private sector are fully aware they cannot manage a thriving enterprise using the faulty methods of the federal government. Either you have the revenue, or you don’t.

Managed IT service contracts allow decision-makers to allot a specific sum toward computer network oversight. There are no excessive payroll taxes, or unexpected overtime hours to strain the company’s resources. You write one monthly check and renegotiate when your managed services agreement expires.

3: Heightened Expertise

Perhaps the greatest difference between hiring an in-house IT team and outsourcing is the improved access to specialized knowledge. Some small and mid-sized operations think it’s savvy to hire a recent technical school graduate who has been immersed in the latest trends and technologies. That thinking seems reasonable on its face.

But the inherent flaw is that your outfit often requires that person, or team, to focus exclusively on your system and operations. What you lose over time is their immersion in trends, new applications, heightened cybersecurity threats, and other pertinent issues. A third-party managed service provider invests its time, resources, and people into cutting-edge training. When a managed services expert reviews your system, they bring the latest knowledge to every task. It’s simply not cost-effective to pay an IT team and then have them attend far-away seminars for weeks at a time.

4: Avoid Potential Downtime

After cyber-theft and hacks, downtime ranks among the most costly setback a company can experience. Imagine for a moment, you are looking out over your offices and employees are unable to work because the system is down. Now imagine you are paying them to not perform the necessary tasks to meet the business’ financial necessities.

When you outsource your IT needs to a third-party provider, it’s not uncommon for them to conduct due diligence, and preventive maintenance while your profit-driving staff is not on the clock. Smooth functioning networks are a type of hidden benefit that companies gain by having 24-7 IT services.

5: Improved Business Focus

Goal-oriented thought leaders enjoy improved success when they are able to focus on the things that make a company successful. Unless you are running a managed services outfit, computer issues, cybersecurity, and managing an IT team is not the best use of your time and brainpower.

Business visionaries achieve goals and enjoy the fruits of their innovation and labor by maintaining a laser-focus on industry trends, cost reduction, improved production, services, and staying ahead of their sector’s learning curve. It’s essential not to get bogged down in seemingly peripheral issues such as IT. Maximizing your skillset and outsourcing IT maintenance and oversight to a professional is the smart play.

Maximizing budgetary resources in a way that delivers the cutting-edge IT needs of today’s business community may be best left to professionals. When industry leaders take the time to do the math on best practices and profitable outcomes, third-party managed IT services remain a tried-and-true practice.