We kicked off 2021 with the Top 5 Business Technology Needs. They were Security Services, Cloud Services, Managed IT Support, Business Resiliency, and Business Productivity. In 2021, the challenges of 2020 not only remained, but grew. Now, we see there’s no going back to the way it was before the pandemic. This year, Business Resiliency and Security remain top IT Trends for businesses. The digital transformation continues. And the increased impact on finances by staffing challenges, supply chain disruption and inflation add stress to the business overall. As a leading provider of managed IT services, we’ve identified these Top 5 IT Trends that are concerning for business leaders this year.
INCREASED COST OF GOODS
The trend of higher IT costs is real and demanding that small and medium-sized businesses (SMBs) raise the prices of the final products to remain viable in the marketplace.
- ✅ Businesses are feeling the impact of high wage costs.
- ✅ There is an overall shortfall of quality, trained people (talent).
- ✅ There is an inflated cost of raw materials.
- ✅ Certain raw materials are unavailable or on backorder with long wait times for delivery.
- ✅ Inflation has skyrocketed to 6.8% annually and continues to increase almost monthly.
AME recommends our clients evaluate long term Managed Services Provider (MSP) agreements to curb runaway technology and IT support costs.
SECURING and PROTECTING CORPORATE DATA
The need for a Security and/or Compliance Plan is an IT Trend that grows with each year. The cybersecurity threats continue and increase each year.
- ✅ Security experts are unable to get ahead of the cybercriminals and the ongoing security threats.
- ✅ The secure, corporate data lines are blurred as employees are accessing corporate data anytime, anywhere.
- ✅ Business are navigating the shared-responsibility model used with cloud services.
- ✅ Executives and employees alike are mixing corporate data with personal devices, home office networks which were less secure than corporate computers and networks. increasing the security threat landscape.
- ✅ Businesses and organizations need a proactive IT security approach that includes tools, policies, and procedures to react quickly when attacks occur.
- ✅ Artificial Intelligence and automated security services are necessary at all levels.
- ✅ Training end-users of the dangers of technology continues to be at a high priority.
- ✅ Password Managers and Multi-Factor Authentication must be integrated into the corporate security theme.
AME recommends Security Risk Assessments annually with gap analysis and mitigation workplan. Our services work together with a “Security First” approach to cover basic security best practice. Combining Managed IT (FLEX), Managed Internet Security (MISS), Business Continuity (BCDS) Services, and Security Training you will reduce the likelihood of security incidents. Compliance Assist and Managed Security Services provides a comprehensive compliance success plan with advanced threat hunting and prompt incidence response.
BUSINESS RESILIENCY and CYBER LIABILITY INSURANCE
The past 2 years has shown businesses how their continuity plans succeed and how they fail. The trends today lean to Business Resiliency, which includes technology, people, processes, and insurance. The thread that binds it all together is PLANNING.
- ✅ The stakes and costs continue to skyrocket for security breaches which pose a greater business threat than do natural disasters.
- ✅ It is paramount that businesses have a business continuity and recovery plan for all types of disruptions, including natural disasters and security breaches.
- ✅ The costs of cybersecurity incidents are rising as well as the demand for and cost of cyber liability insurance.
- ✅ Insurance and supply chain suppliers are driving a demand for businesses to implement security safeguards and resiliency plans.
- ✅ Organizations must have resilient backup and recovery solutions for all data and business applications hosted locally or in the cloud. Businesses moved to the cloud in haste when the pandemic hit and realized the benefits of cloud services. Now is the time to evaluate your cloud use to optimize and understand any remaining risks.
- ✅ All organizations will eventually be obligated to adhere to or comply with a Cybersecurity framework such as NIST 800-171.
AME’s Business Continuity and Managed Security Services will address the requirements of business resiliency and cybersecurity requirements to qualify for insurance, such as multifactor authentication.
Digital transformation is a trend moving at a faster pace than ever before. It must be embraced for businesses to survive. Check out Harvard Business Review’s 4 Principals to Guide your Digital Transformation.
- ✅ The mobile workforce accessing corporate data 24×7 anywhere is driving the need for corporate digital transformation.
- ✅ Businesses that integrate modern technology into their business acumen will grow five times faster than their industry counterparts.
- ✅ E-commerce, social media, mobile web, and video streaming are significant components of almost any enterprise.
- ✅ Industry leaders are learning how to serve their customers through data analytics as well as faster, more flexible technology.
- ✅ Industry leaders are leveraging artificial intelligence to improve employee experiences and retain top talent.
- ✅ Business applications must be shifted to a SaaS or cloud-based model.
AME’s Consultative Services and Professional Services Team can help implement the latest in mobile technology and digital workspace.
The Internet of Things (IoT), Operational Technology (OT), and End-User connectedness is driving business analytics and big data repositories. We will see this trend continue to mature as we navigate our digital inter-connectiveness.
- ✅ 5G Networks are driving a new level of connectedness.
- ✅ The Internet of Things (IoT) is connecting devices and humans everywhere.
- ✅ Operational Technology (OT) is collecting live end-user data from “intelligent/smart” devices that drive real-time business outcomes/decisions.
- ✅ Employees are leveraging mobile technology to access the business information and analytics anytime, anywhere.
AME’s Software Development and Business Analytics group is leveraging/integrating this data into real-time business intelligence.
LOOKING TO THE FUTURE
The AME Group is navigating the changes along-side our clients. It is vital to have foresight to understand and prepare for changes in the way we do business. Technology can grow and transform your business. It can also create a lot to think about! Business technology in any form must be managed.
You should take advantage of our Strategic Advisors, vCIOs and Subject Matter Experts when discussing your business strategy, goals, and plans. The AME Group is your technology success partner. Value-added consultation can reduce the load on your team and help build the roadmap to your business’ future.