Do you ever wonder what makes technology in business so important? The answer is simple and easy. Technology saves your time and effort, and on top of that, it enhances the security of your organization. Numerous factors determine the importance of technology in business because the role it plays is crucial for the operations to run smoothly and efficiently.

The corporate world cannot undermine the benefits technology provides to businesses as most of the tasks nowadays depend on the latest technological equipment. To keep the workflow streamlined, businesses need to implement advanced technology – tools that tech-developers have designed specifically for business operations.

Here are 10 reasons that illustrate the fact technology is no longer a want but a need:

Technology Helps Improve Communication

Nowadays, many companies rely on different applications and software for communicating with others. Several technical aspects need to be considered before you choose the way of communication within your organization. For example, if you are looking for instant feedback, you should go for phone services because they provide quality voice with consistency as well as feedback. Other ways of communication include video conferencing, Skype and instant messaging. Effective communication ensures smooth operations and in some cases, high level of motivation as well. Employees of the organization are well-coordinated and informed about the tasks that they have to perform. Breakdowns in a communication system can cause multiple problems for the employees, which can be harmful to the company. Therefore, you should prepare and preoccupy yourself with contingency plans in case an issue arises in the communication system of the company.

Technology Improves Efficiency

There is no denying the fact technology increases the efficiency of the company. The advancements in the world of robotics and applied sciences help businesses facilitate their customers. Moreover, due to the emergence of artificial intelligence, companies can now make better use of technology. For instance, using chatbots as customer representatives to deal with customer queries. The implementation of technology in business saves time and effort involved in employing human labor and increases productivity, which is a huge advantage.

Protection Against Attacks

Online attacks are increasing at an alarming rate, which can prove to be very risky for businesses. Therefore, developers are designing cybersecurity defense systems to protect companies from dangerous threats. Since this is an era of cloud computing, the threat of cyber attack remains persistent. So, companies need to protect their data by enhancing the security of their online accounts that contain important information and data.

Employees Need Technology to Work Efficiently

The role of technology in business is expanding at a breakneck pace. Employees also expect their supervisors to provide them with the latest equipment so that they can work effectively as well as efficiently. Moreover, the most recent technological equipment enabled the employees to complete their tasks with better results and increased productivity successfully.

Unlimited Supply of Knowledge

With technology, there is no limit as to what you can achieve and accomplish. It provides an endless supply of knowledge and valuable insights. Conducting research has never been easier because you can instantly access the websites and search for the things you are looking for. Having valuable insights puts you in a better position to deal with your customers. You are well prepared to meet their demands. Apart from that, technology helps you keep a close eye on your competitors. Stay aware of their moves and take necessary preemptive measures to adopt the latest market trends.

Increased Employee Engagement

Technology is well-known for keeping employees engaged. It allows them to telecommute to work and encourages them to collaborate with each other for sharing files and essential information. In addition to this, technology also reduces the level of stress. Workload decreases when the assigned tasks are completed in the given time. Employees can also enjoy the flexibility to a certain degree. They can stay connected to the organization via smartphones etc. and perform work-related tasks remotely.

Explore New Markets for Growth

With the implementation of the latest technological equipment, businesses can explore tons of new markets to expand their operations and profitability. Technology can help in this regard by conducting complex calculations and forecasts with authentic results. Authentic results provide a better picture of management, enabling them to decide whether to go ahead with the plan or not. Moreover, technology is advancing with new gadgets being introduced in the market every other day. Companies can take advantage of this progression by implementing relevant technological gadgets. These gadgets can assist them in their operations, leading to better productivity and growth.

Technology in Business is Necessary for Expansion

Through automation and artificial intelligence, technology has become the most crucial factor behind the success of every organization. Although it is a big-ticket in terms of money, the value it provides ultimately outweighs the high cost. Moreover, the use of the latest technology gives the company a competitive edge, which makes it a better organization than the rest of the competitors in the market. This improves the overall reputation of the brand and enhances its perception among the consumers, which is vital for expansion.

Technology Increases the Capacity of the Business

Technology enables businesses to reach more customers in less time than usual. This means they will be able to serve more customers than before. In addition to this, companies can easily coordinate with the suppliers when they need supplies to restore their inventory. The capacity to communicate and store information increases with technology, which is a huge advantage for large corporations.

Technology Brings Cryptocurrency into Being

The technology of Blockchain has enabled cryptocurrency to come into existence. Bitcoin is by far the most popular cryptocurrency available in the digital market. Just like the US dollar, cryptocurrency is also a medium of exchange. However, it is digital and encrypted to control the creation of multiple monetary units. This particular technology has enabled businesses from all over the globe to make safe and secure payments with full-fledged records. In simple terms, Blockchain is a digital ledger that maintains all the transaction records so that you know when and where your money is being transferred online.

https://samplecic.ch/10-reasons-that-demonstrate-the-importance-of-technology-in-business.html

Earlier this year, Twitter quietly removed its vowels and released Twttr, a platform that essentially acted as a prototype for design changes and feature tweaks the company was considering for its regular site. By creating a separate application under the platform’s original name, the company signaled an attempt to get back to its startup roots. Unlike its more popular brother, Twttr is a place where the company can (if it wants) fail fast and often to find out what truly works best for users. You can create a product that truly delights customers.

For entrepreneurs, this prototype should serve as an example of what it takes to build a continuously successful product.

By introducing this platform, Twitter is attempting to create something that does more than keeping the lights on: It’s trying to create a minimum delightful product or MDP.

The pure beauty of an MDP

Many entrepreneurs are already familiar with the concept of a minimum viable product, or MVP, which is meant to do the fewest things required to accomplish a goal. Fewer may be familiar with the idea of an MDP.

An MDP is essentially what happens when you take an MVP and add a second goal of user enjoyment and engagement.

Where an MVP can mainly be developed in isolation from the real world, an MDP requires regular interactions with potential users to create something people will use regularly.

For entrepreneurs, an MDP is what should eventually come out of that first spark of inspiration. It shows that a startup is not only thinking about the business side of a product but also about its target audience. When an application is streamlined and engaging, it’s clear that it’s been put in front of potential customers and that developers have thought through what the user approach will look like each day.

To create and maintain an MDP, it’s essential to have the right processes in place. 

After all, finding a problem that needs to be solved — and figuring out how to solve it in a way that pleases users and keeps them coming back — is far from simple. Luckily, there are a few steps startups can follow when developing a project that will help keep users coming back for more:

1. Identify an actual problem.

An idea that exists only in a vacuum will ultimately result in a product that’s set up to fail. It might seem like the most brilliant thing in the world, but if an idea isn’t solving a problem that a wide variety of people have, there will be no compelling reason for anyone to use it.

Tinder is a good example of a company that had an idea that was not only a smart design choice but solved a problem people regularly dealt with. To connect on other dating sites before Tinder, a person mostly had to shoot a stranger a message and pray the other was remotely interested. Not ideal for either party.

Tinder, on the other hand, offered an easy way for two people to signal they were interested in each other without one party having to put him- or herself out there first. The swipe was a simple and elegant solution that kept people coming back.

Ask three questions to figure out whether the path you’re heading down is a useful one: What problem is being solved? How is this product’s solution better than the competition? Is this an issue that occurs frequently enough to keep customers coming back? These questions are critical to a development process that will result in more than something that just seemed like a good idea at the time.

2. Figure out how the product will fit into users’ daily lives.

While it isn’t possible to check out every single use case for a product before it’s released, there are ways to get an idea of what typical use might look like. Develop representations of a variety of users with their own stories surrounding when and how they use the product. Knowing what the user is doing with your product helps bring a project into focus and indicates which features will be useful in the final product and which can be scrapped or delayed for future versions.

Many modern companies rely on user stories to develop and target their products, including Apple and JetBlue, but it’s a practice that’s been around for a long time. In the 1940s, the magazine Seventeen created a hypothetical reader known as Teena to pinpoint the type of audience the publication was trying to reach. In 2019, the magazine is still going strong.

3. Perform frequent A/B tests.

Just because a product works well for developers doesn’t mean it’s guaranteed to do the same for real-world users. To avoid succumbing to unseen biases, perform A/B testing when possible to better capture customer preferences.

When my company worked with the cash-back application Dosh, A/B testing was a significant part of the process. Features, approach, design, and branding, were modified throughout multiple prototypes to best drive user behavior and increase audience buy-in. One wrong turn could have taken the whole project down the wrong path, but A/B testing helped us steer it right.

For a product to survive in the long term, it generally has to reach the MDP stage at some point.

Sometimes, it’s after the harsh reality of a market failure. Other times, it’s from soliciting feedback from paid users to figure out why a product isn’t working, or why some other part of the market isn’t currently working.

It’s not necessary to get there the hard way, however.

By being mindful of the problem that’s being solved and testing directly with users, entrepreneurs can create a product that will delight customers without bogging them down in bloat.

https://samplecic.ch/how-to-create-a-product-that-truly-delights-customers.html

System and organization control reports are a vital part of businesses’ risk management programs. SOCs are market-driven reports that businesses worldwide rely on to assess risk. These reports use the latest accounting standard, SSAE 18 (which supersedes previously cited standards, including SSAE 16, AT-101, and SAS 70). Learn to implement SOC reporting in your business.

Although SOC reports are not a regulatory requirement, there are still compelling reasons to use them. For starters, they provide an audit-based opinion from an independent party. An independent party helps increase transparency and build trust between the service provider and its customers. Companies take a leap of faith sending all their data to a service provider, and it’s likely your customers’ auditors might ask to see your SOC reports if they haven’t already.

Service organizations such as software-as-a-service companies or payroll processors, in particular, can benefit greatly from SOC reports. More recently, SOC reports have become an aid for those looking into a standard report over cybersecurity programs beyond just a service provider.

SOC reports serve as standardized reporting metrics for how companies address emerging risks.

In a time when breaches and data security are top of mind, SOC reports can reduce the number of questions from your customers that pertain to security during the request for proposal process. They might also reduce the volume of audits required by your customers.

Security regulations and guidelines such as HIPAA, FFIEC, and others require third-party (sometimes fourth-party) vendor risk management. A review of SOC reports has become a standard request to support customers’ vendor management programs.

3 Steps to Implement SOC Reporting

SOC reports can be a significant benefit for many businesses, as long as they’re used effectively. That requires a few steps that are well within reach of most businesses:

1. Do your research.

Given the importance of SOC reports, make sure your team is informed. If your company is still unsure whether your current control environment is ready for a SOC report, consider reviewing the American Institute of CPAs’ SOC criteria.

Additionally, a readiness assessment can be performed by a CPA firm. This assessment can alleviate concerns about security and compliance reporting before undergoing a future examination, and it can identify weaknesses that need correction and validate the scope of the report.

2. Determine which type of SOC report is right for you.

It’s essential to understand the differences between the SOC reporting options: SOC 1, SOC 2, SOC 3, and SOC for cybersecurity are the current suite of SOC reports (SOC reporting for supply chains is in development). In a nutshell, SOC 1 focuses on internal control over financial reporting.

This report does not come with predefined criteria, but it typically focuses on general IT controls and business transaction processing controls. SOC 2, SOC 3, and SOC for cybersecurity, on the other hand, are focused on a standard set of cybersecurity criteria, including security, and optional incremental criteria, including confidentiality, processing integrity, and privacy.

To determine which report is necessary or the most beneficial, focus on the services you provide to your customers. Do your services impact your customers’ financial statements? If so, choose SOC

• If your services include processing or storing client data, opt for SOC.
• If services relate to customer financial statements and include processing and storing customer data, both types of reports are warranted. SOC 3 is a shorter version of SOC 2 and is intended as a public-facing report.
• SOC for cybersecurity is a newer report with a broader focus that can expand to the entire organization or select business units rather than merely a product or service.

3. Ensure you have leadership in place to oversee reporting.

SOC reports can be instrumental in cybersecurity reporting, an essential concern for many companies. They can also benefit internal board reporting regarding threats from data breaches and other cybercrime. Plus, private equity firms conducting due diligence on cybersecurity practices before making a deal can use these reports as a standardized tool. But to reap these kinds of benefits, businesses have to have the right leadership in place.

Whether your business opts for SOC 2, SOC 3, or SOC for cybersecurity reporting, the chief information officer (or, better yet, the chief information security officer or other designated member of the security committee) should be responsible for ensuring that controls for in-scope systems are designed, implemented, and operated effectively. They must also monitor service commitments to customers.

Many of the SOC criteria are based on the company’s commitments to its customers, so management must ensure compliance. Management includes controls of the infrastructure, software, people, procedures, and data.

CISOs should also select the trust service criteria (e.g., security, confidentiality, availability, privacy, and processing integrity) that apply to the system in scope. The system must also provide an assertion about the description and the suitability of design and operating effectiveness of controls.

Once businesses have done their homework, decided which type of report is the best fit, and made sure they have leadership in place to oversee reporting, they can begin to reap the numerous benefits of SOC reports.

https://samplecic.ch/3-steps-to-implement-soc-reporting-in-your-business.html

Within this format of podcast and content, I want to provide you with the best tools to become a fantastic CEO. I realized that the most beneficial way for me to add value to your life so that you can stay relevant (both professionally and personally), will be to place some of the best CEOs in the world — in front of you. Here is the first of the How to CEO podcast interviews.

You can use each of these CEO podcasts to put together your own combined knowledge to become the qualified, quality individual you are working toward becoming. Make yourself a leader that merits being listed here among the “greats.”

In this episode, I welcome Cynthia Johnson, my first guest on the podcast.

As the co-founder and CEO of Bell + Ivy, a marketing and PR firm in Santa Monica, CA, and Las Vegas, NV. Cynthia talks about the lessons that kept her going as she tried to start her own company. Cynthia also reveals her favorite management books and her takeaways from them. Cynthia shares that being a CEO takes a lot of hard work.

Cynthia was listed as top personal branding experts in 2017 by Entrepreneur, top 50 marketers on SnapChat by Mashable, top 12 Female Entrepreneurs that Inspire by Darling Magazine, and the Top 20 people in SEO by Guardian. She is a contributing columnist to Entrepreneur and has had work published in Forbes, TIME, and several other industry-specific and top-tier publication.

I have known Cynthia Johnson for about ten years and wanted you ( the reader) to be able to follow her journey of excellence. One of the things that Cynthia points out is that you have to have people you can lean on as you build a life and a company. You’ll need friends, and you are going to need advice along the way. You can’t plan for the type of information that you are going to need to be a CEO. One day you will need some advice, and you hope that you have someone to turn to.

Personality traits can help aspiring leaders get to the top of their respective companies.

Cynthia shared her tips on how to become an approachable yet confident and assertive CEO. When you become a CEO, the world, and everything around, you will change. You can take this tremendous opportunity and make of it what you will, to either crash and burn or ultimately rise and succeed. Either way, the direction of being a CEO will have changed your life.

As a keynote speaker, Cynthia has spoken for companies and events such as the Alibaba Group in China, World Government Summit in Dubai, Global Ventures Summit in Indonesia and Mexico, and Web Summit in Lisbon, among others. She has participated as an influencer in marketing campaigns for PayPal, Joseph Carr Wines, and several other leading brands.

Notably, Cynthia has had her first book Platform, The Art and Science of Personal Branding, published in February 2019 with Penguin Random House.

I have read her book and can recommend it to anyone. Cynthia’s Book: Platform; The Art and Science of Personal Branding. This book fits in with her business because it is mainly for people in the branding field. The book guides people to see what they may be missing in their work. The book can guide IT people and other experts in opening their eyes to other possibilities.

Management Book finds.

Cynthia has recently enjoyed are: Leaders Eat Last, and The Dumb The Things Smart People Do With Their Money. You have to understand the business from any angle and be able to identify if someone needs you, or if they are having a hard time. You need to be able to lead the way rather than merely directing the way. In the book: The Things Smart People Do With Their Money, Jill Schlesinger tells about someone who was asked to speak at a conference. As the speaker arrived to talk, they brought him a cup of coffee.

The next year, when this speaker came to speak and asked for a cup of coffee – the people pointed to where he could get his own coffee. The speaker later said that the cup wasn’t for him; the cup represented the position he had held. Cynthia uses this analogy to remind herself that you may not always be a CEO.

When looking for the type of personality, it takes to be a CEO.

Cynthia readily replies she feels a needed personality type for a CEO is the quality of being agreeable. You can’t always be pleasant, so you have to learn how to balance this attribute. Thoughtfulness would be the next personality trait to work on – but with the ability to decide at any time. She says that people get on board early and you have to be able to step away and think through the problems.

One CEO style to keep foremost in mind  — autonomy.

“I can’t hold everyone’s hand. I want the employees to grow, and their growth will leave me room to get my work done.” As this seems to be the time of women stepping forward to take their place, I wondered if Cynthia had seen business problems with women or being a woman in business, herself? She mentioned that sometimes there are people with extensive careers who are older, and you have to draw a line — in a clear way to be heard and taken seriously.

If you want to be taken seriously, you need to learn not to use trite words or the often standard verbiage, such as the term, “elephant in the room.” You need to skip past silly words, right there at that moment, face the issues right then by stepping up and addressing the current issues in precise terms and with eye contact.

To carry on duties as a CEO, and still keep some balance in your life.

Keeping fit is probably the essential piece to keep in mind in your life, Cynthia tells me. Exercise will help you to be able to think and be transparent. The next key would be the prioritization key. This element and reflects what you will cut out.  Lean on your team and let them be responsible. You have to know that everything will not work out. I have found the same thing as Cynthia as I’ve had a child join the family.

Speaking events. How and why?

I believe that speaking events help you connect with people. Then as you get to know the events and the people who are putting on these events and you’ll gain a personal connection. You find when and who you can get advice from. In attending events, you tend to become friends with people who are doing the same thing you are doing — finding those who are like you while traveling and connect to become better.

One piece of advice.

Don’t put it all on your own shoulders and don’t blame anyone else. Remember to get and consider outside perspectives for success.

https://samplecic.ch/how-to-ceo-podcast-interview.html

https://readwrite.com/2019/07/24/how-to-better-defend-against-cyber-threats/Data breach, the bane of many security experts. Anybody can fall victim to a data breach at any time. The damage is usually extensive and expensive if not utterly debilitating. Breaches are a cancer that never knows remission and a significant cause of concern in the connected world of today. What is a data breach to begin with? Well, you need to know your enemy, and there are about five different types of data breach.

Here is a quick and straightforward analogy. If a burglar picks your lock or breaks your window and enters your house, that is a security breach. If the burglar steals your documents and personal information and then leaves, that is a data breach.

According to an article on Wikipedia, “A data breach is a security incident in which sensitive, protected or confidential data is copied, transmitted, viewed, stolen or used by an individual unauthorized to do so.” A friend might steal a couple of your randy pictures to expose or prank you on Facebook; data breaches usually happen on a colossal scale involving millions if not billions of records. Big companies (you know, the kind you’d never imagine would fall victim) such as Yahoo, and Equifax among others aren’t safe either. When you think of it, attackers seem to love big and blue-chip companies because of the more significant the impact, the fatter the paycheck.

The stolen information is then used to commit credit card fraud, identity theft, and a host of other heinous crimes. Some attackers will even sell the information in bulk on the dark web, giving even more bad guys the chance to commit abhorrent atrocities ranging from espionage to blackmail and the list goes on. Data breaches are a severe problem that mandates organizations to prepare beforehand.

The first step in preparing is awareness about the 5 different types of data breach. If you know how the enemy operates, you can put countermeasures in place.

For each of the five types of data breach, you’ll learn a couple of preventative measures so that you can bolster the security of your systems. Keep in mind that attackers hardly rest, so don’t you sleep either. Keep learning and implementing the best security practices and stay ahead of the bad guys. Always remember to share your concerns about security and give each other the best security tips you hear about.

5 Different Types of Data Breach 2019

This list of data breaches is in no particular order, but they are all serious areas of concern for any organization or person looking to stay safe from data breach.

Physical Theft

Who has ever watched the Mission: Impossible film that was released in 1996? If you haven’t seen it — find it and watch it. For those who watched the film, I think you’ll agree when I say: We should laud the director, Brian De Palma, for that one famous scene where Ethan Hunt (Tom Cruise) rappels from the vent of an incredibly secure CIA vault to steal the NOC list that contained the real names of agents in the field.

THAT PEOPLE is a classic example of data breach by physical theft, but we celebrated Tom Cruise for the act. In the real world, things might not be as dramatic, but data breach by physical theft is very much a reality for many organizations. It could be as simple as someone plugging a USB drive into a server containing sensitive and business-critical information, or as brazen as someone carrying a hard disk out of your business premises. If anybody can walk out of your premises with sensitive business data, you’re in deeper trouble than you would like to admit.

Leaving confidential documents in plain sight or disposing of sensitive information improperly (yes, a determined data thief won’t have qualms about going through your trash) can also expose you to a data breach. It’s the main reason vaults (but clearly not that CIA vault in Ethan’s case), shredders and furnaces were invented – to protect and get rid of sensitive information that mustn’t fall into the wrong hands.

To protect your organization from physical theft of data, implement stringent security protocols that ensure only authorized people have access to privileged and sensitive data. Have you ever heard of chit-key vaults and safe deposit boxes? Well, you might need to school yourself up on such secure storage options if you’d like to keep physical data breaches at bay.

What about your prized server room? We recommend you invest in military-grade security, laser sensors, motion detectors, sentry guns, the Death Star, the Infinity Gauntlet; whatever works for you – just ensure you leave nothing to chance. Pardon all the movie references, but we all know what happens when hackers release nude pictures of female celebrities and media files that were meant to stay private. The fallout if often nasty and people lose face and jobs, but I digress.

Cyber Attack

Cyberattack is one of the most prevalent forms of data breach since the attacker needn’t be physically present on your business premises to steal your data. All a cyber attacker needs is a computer with internet access and a couple of hacking tools to grab your data without your knowledge.

Data breach by cyber-attacks can go on for months or even years without anyone noticing, especially if the hacker did his/her job well. Often, the intrusion is discovered when the damage has already been done, i.e., after the data breach has taken place.

But how does a criminal hacker on the other side of the globe gain access to your system? The attackers rarely reinvent the wheel unless they have to. They use old hacking methods that are known to work. If they devise a new tactic, it’s mostly a combination of old tactics meant to exploit vulnerabilities in your system.

Common mechanisms hackers use to break into your systems include malware, keyloggers, fictitious websites, trojans, backdoors, and viruses, among others. Usually, they trick users into clicking and as a result, install malicious programs on the system, which is how they mainly gain access to your data. Others will intercept the information you send and receive over an unsecured network in what is commonly known as the man-in-the-middle (MitM) attack.

An attacker may dupe an unsuspecting staff member to steal login credentials. The attacker then uses the login credentials to login to the staffer’s computer, from where they launch a lateral attack on the rest of your system. Before long, the attacker has access to restricted areas of your network, and BAM – your data is gone, lost or rendered useless.

With criminal cyberattacks making up over 48% of data breaches according to the Cost of Data Breach Study by IBM, how do you protect yourself from cybercriminals looking to harvest your data? Preventative measures to keep cyber attackers at bay include:

• Encourage staffers to use strong and unique passwords. Never use the same password for different accounts. If you can’t remember many different passwords, considering investing in a password manager such as LastPass and Cyclonis, among others. And please, never ever use “123456,” “password,” “admin” and such easy-to-guess passwords
• Invest in a state of the art VPN to secure your network. A VPN encrypts your data such that it’s unreadable even if attackers manage to steal it
• Redesign your tech infrastructure with a security-first approach in mind
• Enable two-factor authentication to protect your servers and other storage devices containing sensitive data
• Use an antivirus and firewalls
• Update your software to seal security holes and improve functionality. Best is to keep your software updated at all times

To learn more about protecting your organization and yourself against cybercrime, here is a list of relevant posts for further study.

• 6 Emerging Cyber Threats to Lookout for in 2019.
• How IoT has Exposed Business Organizations to Cyber Attacks.
• 11 Ways to Help Protect Yourself Against Cyber Crime.

Employee Negligence aka Human Error

Have you ever sent out an email blast and be like “No, No, No, No, Nooo!” Yeah, most of us have been there, and it’s one of the worst feelings ever – especially if you send confidential or sensitive information to the wrong recipients. Or what happens when you send the wrong attachment to the right recipient? That photo you mean to send to your significant other?

Both scenarios constitute data breach, and when it happens in an organization, it can cause unprecedented chaos and unrest. But perhaps the above examples don’t cut it for you, so here is a fun fact. Did you know networked backup incidents and misconfigured cloud servers caused by employee negligence exposed over 2 billion records in 2017? According to the 2018, IBM X-Force Threat Intelligence Index published on itweb.co.za.

The point is to err is human; we all make mistakes, and it’s inevitable. But mistakes that could take your company off the pivot can’t be taken lightly or for granted. To mitigate this type of data breach, you must educate your employees on the essential elements of information security, and what will happen if they aren’t vigilant when performing their duties. It might sound like a weak point, but a little training could go a long way in combating data breach due to employee negligence.

On top of that, educate non-technical staff members on data security awareness procedures and policies. At the end of the day, you should embrace a zero-tolerance policy to data breaches that result from employee negligence. Inform your employees on the importance of keeping data safe and the repercussions should the unthinkable happen.

Insider Threat

While most organizations focus on mitigating external threat factors, insiders pose a more significant threat than you’d typically imagine. According to an Insider Threat study by CA Technologies and Cybersecurity Insiders, 53% of organizations faced insider attacks, with the main enabling factors being:

• Many users have excessive access privileges
• An increased number of devices with access to sensitive data
• The increasing complexity of information technology

From the same source, 90% of organizations feel vulnerable to insider attacks, and 86% of organization already have or are building insider threat programs. According to IBM Insider Threat Detection, insider threats account for 60% of cyber attacks. Wow, just wow – quite the staggering figure if I must point out the obvious, which also means you must be extra vigilant or one of your employees will drive a steel stake through the heart of your organization.

Data breaches resulting from insider threats are quite common nowadays, and extremely difficult to detect. Network protectors can quickly combat malicious outsiders, but the job becomes harder when threats come from trusted and authorized users within the organization.

The job becomes 10 times more challenging since there are different types of insider threats, namely:

• Disgruntled employees – This category of criminal insiders commit deliberate sabotage or steal intellectual property for monetary gain. It’s common for employees to steal information before and after quitting or being fired. Some harmful elements sell trade secrets to competitors, but others want to take down the enterprise.
• Nonresponders – Some employees never respond to security awareness training, no matter the resources you invest. These are the people who usually fall prey to phishing scams repeatedly because, well, you can stick your security awareness training up your (you know where).
• Insider collusion – Professional cybercriminals will go to great lengths to steal your data. They scout the dark web looking to recruit your employees. If one of your employees collaborates with a malicious attacker, you will have a severe security and data breach, and you don’t need a rocket scientist to tell you that. In some cases, an employee may even cooperate with another employee in the same organization, exposing you to all types of cybersecurity problems. If you need a little prodding in the right direction, just think how insider collusion can expose your enterprise to fraud, intellectual property theft, and plain old sabotage.
• Inadvertent insiders – Ignorance is not bliss as far as cybersecurity goes. Negligence on your employees part invites all manner of trouble since attackers are savvy to vulnerabilities that inadvertent insiders cause. Negligent staff members expose your organization to malware, phishing, and man-in-the-middle (MitM) attacks, among other forms of attack. Attackers may take advantage of negligence in your organization to exploit misconfigured servers, unsecured/unmonitored microsites, and so on.
• Persistent malicious insiders – Criminal “second streamers,” i.e., employees seeking supplemental income maliciously, won’t protect your data. Instead, they will commit a slew of malicious acts such as exfiltrating data for financial gains. And this category of people will remain undetected for long periods to maximize the benefits of data theft. And since they are aware of network monitoring tools, they will steal data slowly instead of committing data theft in bulk. As such, they can operate under the radar for months or years.

How do you prevent data breach caused by insiders? How do you protect your data when the threat comes from the same people you trust. To protect your data from insider threat, you need to implement measures such as endpoint and mobile security, Data Loss Prevention (DLP), data encryption at rest, in motion and use as well as Identity and Access Management (IAM). You can even adopt behavioral analysis and reduce vulnerabilities. These measures will combat, among other things, unauthorized access, negligence, and data loss in case of a breach.

Ransomware

What comes to mind when you see the word RANSOMWARE? WannaCry? $700,000 of losses? Laws? The HIPAA perhaps? CryptoWall? CryptoLocker? Ransomware can constitute a data breach depending on the malware that attacks your systems. Other factors such as the type of data stolen, the current status of said data and – again – laws. Anybody who puts your data at risk of loss has committed data breach to some extent. If some hacker somewhere holds your data hostage, your organization will surely experience losses in all fronts. And you determinedly would instead carry on as usual – plus money doesn’t just grow on trees.

The attacker who hijacks your data has demonstrated that they can steal or destroy your data at will.

Clearly, they are talented, and ransomware comes in a million shades of nasty. Could take over your system right this minute considering there are more than 4,000 ransomware attacks per day according to the Federal Bureau of Investigation (FBI). It’s one of the reasons the US government has a $15 billion budget for cybersecurity. The majority of attackers use ransomware to cover their tracks. Just think about it for a minute. Some guy breaks into your system steals your data, and if that isn’t enough, holds your data hostage for profit as they cover a data breach.

Ransomware ruins your reputation. It takes blood, sweat, and tears to build a name, so say “no” to ransomware.

You can avoid ransomware of you’re cautious enough. Plus, you can always ramp up your defenses. And please install a powerful antivirus program (my favorite is Eset Nod32), and ensure you activate web file protection and firewalls to combat malware-laden emails and messages that pass spam filters. Additionally, invest in a clever backup plan so that you can simply wipe the drives to eliminate ransomware, and then restore backups. That way, you can beat ransomware attackers at their own game, instead of paying a ransom.

Final Words

Security goes beyond mere awareness, so don’t take data breach sitting down. You can effectively protect yourself, and if the worst happens, rise from the ashes stronger than before.  Keep learning and implementing the best security policies and procedures to protect your business against the various forms of data and security breaches. Keep the conversation going until you have everything you need to safeguard yourself and your organization against all five of the data breach of types.

https://samplecic.ch/know-your-enemy-the-5-different-types-of-data-breach.html

Cloud adoption is picking up steam and for a good reason. There are myriad advantages to running a business in the cloud and fewer risks than ever before. According to a LogicMonitor survey, 83% of enterprise workloads will be cloud-based by 2020.

While the odds are good that your business could reap significant benefits, cloud adoption isn’t as easy as flipping a switch.

Instead, you must create a well-defined strategy for your cloud endeavor to help your company realize its vision.

What’s Your Intent?

The first step of plotting out an ideal cloud strategy is determining what type of cloud environment will best meet your needs. If your primary goals are flexibility and scalability, internet-housed public cloud models such as Amazon Web Services or Microsoft Azure are optimal.

On the other hand, a private cloud allows you to maintain some on-premise resources and deliver computing power over a secure and private network. In industries where compliance is a significant issue, private clouds check all the right regulatory boxes.

If both public and private environments suit your company, you might want to consider a hybrid cloud solution that balances both approaches. For example, you might run high-volume applications in a public cloud while keeping a tighter grip on high-risk apps through a private cloud. Hybrid clouds allow these two environments to meld seamlessly. While this sort of strategy can be more expensive to implement, it can provide the best of both worlds.

Identifying your preferred cloud model dictates how everything else develops from there.

If you take the time to identify your goals and outlook before investing in a cloud approach, you’ll be set up for a smooth transition.

Create Your Cloud Adoption Strategy

Without a smart cloud adoption strategy, you risk investing in a cloud environment that doesn’t meet your expectations. In the worst case, you might end up with a cloud infrastructure that is a step down from your original solution — leading to lost customers and revenue. Avoid this scenario by creating a clearly defined cloud strategy with these five steps:

1. Create an in-house committee. 

Appoint a committee of stakeholders to evaluate possible cloud implementations. This group might include employees who use the applications regularly, IT data analysts, and other personnel.

If a committee is impractical, work with your cloud provider to determine the right adoption path for your company.

Most service providers will offer a free or low-cost consultation to give you an idea of price, and many will help you make the migration in increments to keep costs low and establish early buy-in.

2. Develop decision criteria. 

Consider your current environment — including the types of applications you rely on and their technical characteristics — the needs and constraints of your data, any regulatory requirements you must meet, and your performance requirements for managing workloads effectively.

All of these different factors must work together to deliver an optimal user experience while avoiding costly mistakes. Cloud solutions are flexible, so you’ll have many decisions to make. Determine the criteria you need to consider so that the cloud strategy you choose can best serve your operations.

3. Conduct an analysis of benefits and risks. 

Create an overview of your most common use cases, examining their potential benefits and risks. In many cases, you can take steps to mitigate the risks — or it’s possible the risks you perceive might be based on myths.

Get in touch with your qualified cloud provider to find out how to reduce or negate those risks. If you’re still left with a long list of liabilities, a private cloud environment might be most appropriate.

4. Ease in with cloud-based applications. 

Instead of jumping into the cloud, consider replacing some of your current applications with a software-as-a-service equivalent. That will make deployment, updates, scaling, and a ubiquitous computing environment more accessible.

Having the system and operation accessible can go a long way toward limiting disruption once it’s time to migrate to the cloud. When your organization operates in a partial cloud environment, there will be less of a learning curve associated with complete cloud adoption.

5. Create or update your disaster recovery plan. 

Part of the cloud’s appeal is its role in disaster recovery plans. The cloud can handle the heavy lifting when it comes to recovering data or limiting downtime. If your on-premise server goes down, you can flip a switch and operate out of the cloud in the meantime.

You also have a partner in recovery: Generally, the burden can shift to your cloud provider. Make sure your plan is clearly articulated, so stakeholders know what to do when disaster strikes. If an outage is due to your internet service provider, for example, one part of the plan would be to failover to your secondary line.

If your cloud servers go offline because of a disaster, then you might need to repoint your systems to new IP addresses temporarily. Be prompt about putting this into action so you can continue operations until the original servers or services can be restored.

Cloud adoption represents an exciting opportunity, but it’s not something that companies should rush into.

For the best results, organizations should develop a clearly defined cloud strategy that outlines implementation in a logical and well-thought-out fashion. A cloud strategy doesn’t just ensure that you reach the best possible end result — it also minimizes the amount of experimentation and the number of iterations necessary to get there.

https://samplecic.ch/how-to-develop-a-clearly-defined-cloud-strategy.html

Over the past few years, blockchain and cryptocurrency companies have featured on prominent lists of top fintech companies in the world. While using the word ‘disruptive’ to describe the activities of the crypto space might be cliché, that is precisely what is being done. What companies are revolutionizing the crypto space with new innovations?

We know Bitcoin still remains the top cryptocurrency in the world by far, with Ethereum following.

This article discusses certain crypto startups that are bringing different innovations to how trade is done. These companies are not necessarily popular, and you might even be seeing their names for the first time. But, they challenge conventional trading methods and make for good alternatives. 

Here are five companies revolutionizing the crypto space with new innovations. Tradove

Tradove, which began in 2012, is the choice of more than 250,000 from more than a hundred thousand companies around the world, which include Amazon, BMW, Yahoo, Pepsi, HSBC. Its selling point is that it is not just a Blockchain trading platform but also serves as a B2B social network. In a manner not unlike LinkedIn, Tradove helps its users form personal, essential relationships with other traders to facilitate ease in doing business.

Tradove’s BBCoin (BBC) is the first B2B token in the world. While it has not gathered enough momentum to effectively challenge Bitcoin and Ethereum, it is steadily growing as an alternative solution, especially in the corporate world. It offers better transparency in trading and does away with Bitcoin’s anonymity. 

Celsius

When people talk about cryptocurrency challenging traditional banking, it is because of platforms like Celsius. Celsius not only allow you to trade crypto but also to earn interest and borrow, where your collateral is your crypto coin. 80% of its revenues are shared among its community with users earning up to 10% in the form of weekly payments. 

The good thing is that there are no charging fees or hidden charges so you know how much you are going to spend upfront. Celsius might seem to be making risky deals, but it certainly is disrupting the banking sector. Benefits of using Celsius ICO summarised include:

• Users can borrow cryptocurrency on the platform at highly competitive rates. 
• Customers earn interest just by making deposits to their CEL wallet. 
• Security of funds with private vault feature and multi-factor authentication. 

xCrypt

While most cryptocurrency exchanges use an ERC20 system, xCrypt is already living the future by offering ERC721 alongside that. It charges no transaction fees and like Tradove, it has a social media platform where traders, experts, investors, and top executives can easily flow along. It also affords traders a hybrid exchange and offers them a cryptocurrency debit card that enables them to withdraw in their local currencies. 

In addition, it has impressive rankings on reputable metric systems and is rated an 8.6 by icomarks, 7.8 by foundico and 4.3 by icobench. It is a notable hybrid exchange system in the cryptocurrency world. You can find its whitepaper here. Why should you trade on xCrypt? 

• A transparent and decentralized hybrid exchange system
• Zero trading fees
• High-quality safety and security measures 
• Support for both ERC20 and ERC721 token
• Fiat payment

Patron ICO

Patron is a leading Japanese company that targets influencers all over the world. According to its website, it is to perform the following functions:

• Platform to drive the sharing economy of C2C / SNS media.
• M&A: Selling and acquiring influencers.
• Monthly Subscription / Sharing of influencers (Exclusive Ambassador Contract).
• SNS All Live -Powered by Switchboard-SNS Media Sharing economy, “PATRON” and live simultaneous distribution service (partnered with SWITCHBOARD LIVE).

• ICO・Crowdfunding system / Crowdfunding 2.0 (ICOs) specialized for influencers.

FCoin

FCoin is based in China, and much like Celsius, it distributes 80% of the money made among its customers so that they can earn as they trade. It has been growing massively. Only weeks after it was launched in May 2018, it became #1 in the daily trading volume at a rate that was the combined value of the 2nd to 7th. While it charges 0.1% of each trade as transaction fees, traders later get reimbursement the following day in FT (token symbol). That was a way to ‘mine’ the FT and 51% of the coin’s volume are open to the public. 

Conclusion

Cryptocurrency is growing, with different innovations springing forth. That is why the companies on this list have been carefully chosen for you to select according to your needs. What we still need from crypto is transparency. Earn interest on your money with FCoin and Celsius, with the latter giving you the option of borrowing money. As an influencer, Patron would serve you better while Tradove will help you form meaningful connections. xCrypt seems to operate in the future already and has a lot of high potentials.

https://samplecic.ch/5-companies-revolutionizing-the-crypto-space-with-new-innovations.html

Technology for financial services came about as a response to the challenge of making finance more straightforward and more accessible. Now, people are demanding that their transactions be fast, easy and secure — globalization has required to work at a broader, more rapid speed.

Multi-currency digital payments are a norm, peer-to-peer lending is now more popular than going through a cumbersome application at a bank, and insurance claims can be filled out from your home within a few minutes. Financial institutions, banks, and brokers are adjusting to the demands of the public, striving to attract and retain customers by digitizing data.

Regardless of the industry, we have to keep in mind that faster and easier is expected to translate into mobile. That’s why the most popular FinTech Apps are available in both mobile and desktop versions. If you’re planning on creating a fintech app from scratch and want to learn more about the most popular types and their common traits you will need to be ready to deliver both a desktop version and have your mobile optimized.

Types of FinTech Apps

The broad spectrum of financial applications ranges from insurtech (technology for insurance), regtech (regulatory technology), money transfers, lending apps, payments, and trading — just to name a few. This explosion of new applications for financial services has shifted and revolutionized the way the entire industry does business.

So, how your new app will break through in the industry?

• Digital Payments:

  Today, people prefer to use mobile wallets instead of credit cards. Digital banking allows people to send money without using traditional banks and process payments more cost-effectively.

• Investment and Wealth Management:

  Investment solutions not only allow people to hold their assets in a single place but also manage their financial portfolios at will and from anywhere in the world.

• Lending:

  Applications for peer-to-peer consumer lending and B2B lending give consumers easy access to loans. Now users can access loans at only a fraction of the time it would take to obtain the same type of loan from banking institutions.

• Trading:

  Online trading apps have given anyone who has access to the internet the ability to invest in the market, monitor risk in real time and share knowledge.

• Personal Banking:

  Customers can now manage their money online. Banks and startups in this space are creating online wallets and profiles to maintain services to translate into a better and faster user experience.

• InsurTech:

  Insurance companies are also using digital solutions to provide a better customer experience. Users can perform activities such as acquire new services and fill out claims directly from the app at any time.

• RegTech:

  Regulation applications use machine learning and big data to constantly observe rules and carry out analysis that allows these companies to solve regulatory issues and challenges.

Common Traits of Financial Applications

So, what do these apps have in common? Although each type of fintech app will require its own set of user-friendly features, you can find these traits on all the applications that cater to the financial industry:

Personalization

Finance must take into account a delicate balance between offering services that apply to the masses and treating each customer with individuality – after all, money is a sensitive subject. That being said, fintech apps must understand their clients well enough to implement strategies and build applications that make each user feel unique.

This is something a user doesn’t necessarily experience within traditional banking institutions, but with the help of technology like artificial intelligence, financial applications can now better understand the users’ desires and wants with real data. Finding a way to personalize an application for financial services makes transactions more enjoyable.

Integration

Integration has two fronts when it comes to fintech apps: the capability of integrating with several other systems and cross-platform synchronization. Having the capacity to integrate with multiple applications is more of a necessity than a luxury for fintech apps.

Both individual and business customers require a variety of services such as mobile payments, crowdsourcing or financial resource management services – unless an app is prepared to cover all their needs, it must be compatible with other applications to be able to exchange information.

One of the biggest challenges with a system that supports multiple devices is the synchronization of state between devices or synchronization between numerous users. If you have a financial application that runs on multiple platforms, it’s suggested to have your setup shared between all these platforms and have a consistent experience.

Authentication

With money being such a delicate subject and all, security takes on a key role for fintech apps. Building trust and confidence among the app’s user base and potential customers is of utmost importance; people will be wary of using a brand new app that doesn’t have outstanding security measures.

Two-factor authentication is a good way of securing digital accounts. Two-factor authentication is the most widely-used security measure for these types of applications. Third party services such as Twilio Verify or Twilio Authy allow verification via SMS or a unique app that the user installs on their device. That way, they have full control over accessing the account.

Blockchain Fintech Technology

Blockchain fintech technology is on the rise and a must-have nowadays for these companies. Using this technology will create further confidence in the users as it is the building block for the app’s transparency. In essence, blockchain development does not allow a single transaction to be modified or deleted once it has been confirmed so any mistakes must be counteracted with another operation.

Stock-trading apps and others use blockchain to track the complete lifecycle of a financial transaction, create secure financial products at minimal cost, and make financial services both functional and technologically sophisticated.

Data Tracking and Analysis

Regardless of the type of fintech app, users want to be able to track and analyze their financial activities and transaction history. The users can track their financial movements and easily access their transaction history.

Having the information accessible in a single dashboard and with graphics or visual representations always helps the user have a better experience online and allows them to understand fluctuations on their financial habits with reliable insights easily.

Fintech applications have a bright future ahead and what’s to come is unpredictable, but one thing is a fact: big things are happening. We, for one, are ready for what’s to come. It only takes one significant idea to change the world to be part of the revolution of the financial industry by bringing your own idea to reality.

https://samplecic.ch/secrets-of-financial-applications-traits-of-fintech-apps-2.html

Today, we have millions of cameras deployed throughout various industries, organizations, and global borders around the world. However, with each of these individual cameras monitoring continuously and collecting vast amounts of data points, what good is it if not actionable or context applied?

Trueface, a US-based leader in computer vision, utilizes machine learning and artificial intelligence to augment camera data into actionable intelligence. This technology is working to make both public and private environments safer and smarter.

Computer vision as a market was valued at $9.28 billion in 2017 and is set to grow towards $48.32 billion by the end of 2023, according to Market Report World. As adoption continues to increase, we’ll see computer visions being applied to several industries, including entertainment, gaming, manufacturing, supply chain, retail, hospitality, healthcare, and financial services.

The company has now raised $3.7 million in seed capital led by Lavrock Ventures with participation from Scout Ventures and Advantage Ventures.

“This round of funding will help us expedite our efforts in making computer vision affordable, effective and trustworthy,” says Shaun Moore, CEO of Trueface.

Computer vision deployments have impacted and provided benefits to enterprises throughout multiple industries. Today, casinos are leveraging age detection technology like that created by Trueface to ensure that those entering the gaming floors are of legal age. As a result of this type of implementation, the pressure on security teams is drastically reduced and allows for focus on more critical tasks.

The United States Air Force sees the technology as a market leader as they have recently partnered with Trueface to enhance base security through smarter access control.

With all client deployments completed on-premise, the Trueface team has designed their technology with data privacy at its core by implementing blurring and fleeting data in appropriate deployments, the personal data of those who have not opted-in is never recorded.

Furthermore, the team is working on efforts to allow their computer vision solutions to become plug and play, opening up the market for even those who are non-technical or don’t have engineering resources to benefit from their solutions.

Disclaimer: Trueface and parent company, Chui are an alumnus the ReadWrite Labs accelerator program. Kyle Ellicott is also an advisor to the company.

https://samplecic.ch/trueface-raises-3-7m-to-turn-camera-data-into-actionable-insights.html