Data breach

Why a business should not invest in cheap IT infrastructure?

Nov. 26, 2018 by

Starting a business needs investment, and no company can perform well with inferior products. Although business leaders are well aware of the significance of investing in good IT support, not all comply with it and hire inefficient IT team. As per computer networking services firms, choosing affordable IT services noticeably limits the ability of the business to realize its goals. Besides this, it also results in overspending on fixing repeated IT breakdowns. Although enterprises look for ways to cut on the operational costs, going for cheap IT services is not a viable approach.

But before delving deep into why under-investing in IT is not an intelligent approach to sustainable business growth, it is essential to understand why businesses take this approach.

So, let’s look why businesses under-invest in IT

1.They Don’t Take IT Risks Seriously
Most small businesses have the outlook that their IT infrastructure is well secured and nothing grave can happen to it. But given the increase in the security breaches occurring nowadays, no business or organization are ever fully protected from IT risks. When outsourcing IT support to a small business it support services company, it is essential to account each and every possible problem the business can face and understand how the vendor addresses it. Some of the IT situations can be handled manually, but natural disasters are out of human hands. These natural disasters have significant effect on a company’s IT. Thus it is essential to have proper Data Recovery Plan in place. With cheap IT support, a business can’t guarantee a backup plan for such unforeseen events.

When it comes to IT risks, it’s important to consider:
Failure in Hardware and Software
Data breaches and cyber attacks like Malware and Viruses
Attempts of spam and phishing
Human errors

Besides this, it is a must to take into account criminal IT risks like hacking, data breaches, and password theft. Since they compromise business data, it often leads to customers turning away from the business.Contrary to cheap IT vendors, reputed IT support firms look into the factors that can put the business into risk and takes appropriate action to prevent it from happening.

2.Everything is Fine Now
Even if a business is working smoothly till now with also having a proper IT plan doesn’t mean it will continue doing so. Businesses even cut on the cost of IT and invest it into revenue oriented tasks. But there is no guarantee that the IT approaches of today will work in the future too. With all the technological advancements taking place today, keeping up with it the only way to up the revenue.

3. Business Owners Don’t Understand IT
Most businesses do not see the advantages of hiring an IT-specific company and instead rely on cheap IT vendors. They often have a view that these firms are costly and don’t offer personalized solutions. This ignorance can lead a business to its end. Almost all IT firms offer IT solutions as per the needs and budget of a company.

Finance and technology: Taking advantage of AI in choosing your investment options

Aug. 22, 2018 by

Planning a start-up on a hunch is no longer an attractive proposition without the benefit of studying prevailing conditions and influential factors in the market because there’s no longer any excuse to not use substantive data to check the feasibility of your plans.

This is the reason why technology and artificial intelligence have become the two most valuable assets for tech companies like any IT support Virginia agency providing data and business analytics resources to business and finance institutions that have need of it.

Smart investing
The finance and business sectors have been the foremost beneficiaries of AI-driven solutions such as investment advising and asset management.

It’s dangerous to gamble on a hunch if you plan to start investing your hard-earned savings on a venture without the business intelligence to help you in planning your investment options. After all, the financial and business sectors are two of the most data-hungry fields which can greatly benefit from the machine-learning and deep learning capabilities of AI.

Since 2008, the AI-driven investment management network and software platforms have grown its assets worth $200 billion around the world. That’s equivalent to $20 billion on average each year and is predicted to grow more in the coming years. This is proof of AI-driven technology at work for finance and business.

Financial planning and management
AI-driven tools and services are designed to help investors in creating and managing their finance portfolios. This helps investors plan for investment and financial strategies not to amass wealth, but to manage it properly and benefit from its long-term effects.

The AI deep learning concept is the perfect fit for this because it can easily and quickly scale catered solutions depending on market factors that affect financial or business activities. Its intuitive nature becomes a handy tool for making evidence and data-based adjustments justified and optimizes financial planning and management efforts.

Fraud detection and security management
If there’s one thing that AI solutions can convince financial and business institutions is its powerful capability to detect fraud and security management.

AI-driven analytics tools collect and consolidate evidence to intelligently detect fraud through its machine and deep learning capability. Artificial Intelligence tools learn from data and monitor a person’s behavioral patterns to detect fraud attempts and security breaches.

These AI algorithms detect patterns in collected data to recognize fraudulent activities in the process.  With the ability for self-learning, AI systems can adapt to finding out irregularities or nuances in data and further enhance its detection capabilities over time.

With all these process innovations, the power of AI in transforming the finance and business sectors need not be as tedious and daunting as before using traditional processes. From where it used to secure data from various sources, now it enables the availability of dynamic data from any tech or IT solutions and services company.