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Technology allows businesses to leverage high-impact practices, but only if that technology works the way it’s supposed to. Even simple issues with network connectivity problems, outdated technology, and cybersecurity can impact operations. The key to a successful technology deployment is understanding where potential disruptions could occur and taking measures to proactively address them ahead of time.
Your business works with a lot of vendors. Each of these vendors requires your time, energy, and resources. Do you have the assets to handle all of them yourself, or would it all be better spent elsewhere on more profitable tasks and projects? Today, we’ll highlight your business’ vendor management options.
Your business needs IT expertise, regardless of how much it is integrated into your operations. You need someone on staff who not only understands your technology, but someone who can help you make the most of it to get the leg up on competition. Today, we want to explore how you can hire the right IT professionals for your organization’s specific needs, including both hard and soft skills.
Productivity is the measure of which an employee and a business is judged by, and for that reason, when productivity starts to lapse at an individual or organizational level it needs to be addressed immediately. In today’s blog, we’ll go through some of the problems that an organization can see when productivity drops.
Many business owners considered allowing their employees to work from home like opening Pandora’s box; once opened, there was no going back. Unfortunately, for these administrators, they were faced with the very real prospect of losing their business if they didn’t allow it. Millions of people started working from home in 2020 as a result of the COVID-19 pandemic, but now that public fear has diminished, how have companies reacted? Let’s discuss some remote work statistics to get an answer.
There are rules for doing business that most people understand. That status quo has been around for a long, long time, but as technology advances, it does more than connect parts that weren’t connected before; it can break down some of the old notions about the ways businesses are run and give people who think outside the box a leg up going forward. Let’s look at three ways business leaders are innovating how they do business.
SMBs tend to rely on their longstanding clients to bring in the majority of their revenue, so what happens when clients suddenly cannot trust your business’ reputation? Look no further than if you were to suffer from a cyberattack for an answer. It turns out that being careless with your clients’ data is one of the best ways to sink your reputation.
Effective teamwork is indispensable for business success. Collaboration stands out as an extremely important consideration, yet devising a strategy that expedites project completion and enhances service delivery poses challenges. This week, we get into modern collaboration practices and how technology can help you improve collaboration.
One of the biggest signs that your business is doing well is that it is growing. When it starts to grow, you might notice that your office suddenly feels a little cramped. While moving an office can be stressful, it is often necessary to ensure that your company can continue to flourish. From an IT perspective, it can be even more challenging.
As necessary as technology is in modern business operations, a variety of common IT-related obstacles must be overcome for your efforts to succeed. Fortunately, partnering with a managed service provider (MSP) can make these obstacles less “mountain” and more “molehill.” Let’s examine some of the most often seen business technology challenges and discuss how a relationship with an MSP helps alleviate them.
Technology frustrations can cause major setbacks for today’s businesses. IT challenges of all kinds can disrupt operations and impact productivity. Fortunately, managed IT services can help solve these common business IT headaches. Therefore, businesses can access a team of experts ready to tackle these issues head-on by outsourcing their IT management to a managed service provider.
Running a business may never be totally smooth sailing, but it doesn’t have to be a complete grind all the time either. Managing complexities with your business’ technology is a good way to ensure that things move ahead with some efficiency. Today, we look at four ways to effectively handle complexities in the realm of business technology.
The first thing that has to happen is that you need to assess your business’ goals then work to align technology initiatives with these goals to ensure that any IT investments contribute directly to the success of the business. You’ll want to create a comprehensive technology roadmap that outlines how different systems and technologies will evolve over time. This roadmap should account for strategic changes inside of a business and allow for the integration of emerging technologies that can bring better efficiency.
If possible, you’ll want to select technology that is scalable and can grow with the business. Scalable systems are better equipped to handle increased complexity and the quickly growing data volumes that businesses have today. Another thing that has to be considered is how to improve data flow. One of the best ways to do this is through integration, as it ensures that data flows efficiently across the organization, reducing the complexity of structuring data.
Cybersecurity is one of the most pressing issues any organization has. One of the best ways to thwart risk is to monitor your systems. By implementing a robust cybersecurity framework and regularly monitoring endpoints for potential vulnerabilities, you can better detect and respond to security threats in real-time, minimizing the risk of data breaches and other cyberattacks.
You’ll also want to educate employees on cybersecurity best practices. Establish clear policies and procedures for data protection and ensure that employees are well-informed and trained to follow them.
The last point is about building business agility. You’ll need to embrace agile project management methodologies to increase flexibility and be able to respond to your changing needs. Additionally, your business can become more agile with a comprehensive cross-platform training program. The more people that know how to do a job, the more apt that you’ll be able to complete a project efficiently and effectively.
By adopting these strategies, organizations can navigate the complexities of technology and position themselves inside their market. It’s best to regularly reassess and refine your business’ approach to stay ahead of emerging challenges and opportunities. If you need help getting started, give IT experts at MSPNetworks a call today at (516) 403-9001.
While it’s true that technology has become essential for businesses, organizations still often grapple with various technology issues that can impact how they do business. Many times organizations get turned around and it can cause some aspect of their IT to be problematic for them. Today, we look at five common technology issues that businesses frequently face.
Businesses must contend with the constant threat of cyberattacks. They are everywhere, and are a massive threat to any business. Malware, ransomware, phishing, and other forms of cyber threats keep businesses on their toes. Protecting sensitive data and ensuring the security of digital assets is a critical concern.
As regulations governing data privacy become stronger and more specific, businesses need to ensure that they remain compliant. Managing and securing customer data in accordance with legal requirements is a significant challenge.
Many businesses operate with legacy systems that may be outdated and incompatible with newer technologies. This presents a problem, but it’s manageable by integrating these systems with modern solutions, or simply upgrading to new platforms. This can be expensive, and can lead to challenges in achieving seamless workflow and data integration if not handled properly.
Adopting new technologies and undergoing digital transformation can be disruptive. Companies may face resistance from employees, encounter skill gaps, and deal with the need to restructure processes. Managing this transformation effectively is crucial to being able to improve your customer’s experience.
As businesses grow, their IT infrastructure needs to scale accordingly. Scalability challenges may arise when outdated or inadequate systems cannot handle increased workloads, leading to significant performance issues. Using cloud-based solutions do quite a bit to address scalability concerns that pop up, specifically those that tend to rear their head during short-term projects.
Addressing these technology issues requires a proactive approach, strategic planning, and ongoing investment in both cybersecurity measures and employee training. It's important for businesses to stay on top of technological developments, and we can help. Our team of IT professionals have a lot of experience getting businesses the technology that works for them. Give us a call today at (516) 403-9001 to learn more.
Technology is an incredibly powerful factor when it comes to your business operations, so we wanted to share how a solid IT strategy can make a significant impact on your company. We’ll explore how poor IT implementation and strategy can affect performance, as well as what you need to do to prioritize your IT.
First thing first: you can’t implement an IT strategy without preparing for how complex they are. Most businesses will rely on multiple types of different software solutions and applications, hardware systems, and data types, all of which need to be tied together and connected in a complicated web of integration. This can all be daunting and difficult to do, as the slightest hiccup could impact access or performance.
If you want to successfully implement any IT system, you’ll have to manage resources effectively. This includes both financial and labor resources, as you will have to budget and staff appropriately, and train new team members on how to use it. If your new systems are aligned with your overarching strategy, and your company’s upper administration are also on board, you should have no problem securing the resources you need to implement an IT solution.
If your new IT strategy involves an organizational change, then you need to have a roadmap to approach that change. People don’t like to deal with change, and they might actively resist implementing anything that goes against the norms… technologies and workflows included. You’ll want to work toward establishing clear communication, training, and support for any employees who will utilize such systems. This way, your people will be more likely to not just use the new technology, but embrace it as the new norm.
If you want to ensure quality, safety, and security for your new IT strategy, you need to approach it as you would any other option: through rigorous testing to minimize the odds of data breaches or system failures. If you routinely test your new systems, applications, and processes, you’ll all but guarantee that they work as intended when you need them the most.
IT strategies often rely on vendors and third-party services, often leading to complicated implementation and integration processes. You’ll have to work around contracts, schedules, and general coordination challenges to make sure that your own goals are reached as a result of the agreement.
Compliance is yet another important component of any IT strategy, and you will have your work cut out for you protecting sensitive customer data—especially considering this is a requirement for specific industries. Consider factors such as documentation, audits, and monitoring to ensure that your new IT strategies align with the requirements your applicable regulations demand.
MSPNetworks can help your business implement a bulletproof new IT strategy with ease. To learn more, call us today at (516) 403-9001.
Your business only has so many resources, from its budget to its time to its employees’ capabilities. This is what makes it so crucial to properly manage all of them.
Let’s run through some basic practices that can help you make the most of what your business has at its disposal.
As we’ve established, you’re only going to have so much of any given business resource at your disposal. Your circumstances will dictate where you have feast and where there is famine.
As such, it is important that you are aware of where your resources are needed the most for your operations, and where they will be able to contribute the most to your success. The 80/20 principle is helpful to keep in mind.
Think about it this way: 80% or so of your resource shortages are going to refer to just 20% of your resources—the people, materials, time, or what have you that are in highest demand. Carefully planning how these resources should be allocated, based on which processes and outcomes are most important, will ultimately help your business accomplish more.
Different tasks will need different levels of investment, in terms of your resources, and organizing them based on the aforementioned priorities we discussed earlier will help you to adjust your processes accordingly.
It’s important that this process takes the different levels of your tasks into consideration, with more resources spent where they are needed.
Tracking your time greatly helps define how resources are being used, giving you the data that you need to better plan for the future.
Finally, it’s important that you take the time periodically to take account of your progress and make improvements. Where did conflicts appear in workflows, specifically where your priorities and goals are impacted? Take note of these conflicts and address them in future repetitions of your given process.
From the IT support to keep you in operation to the strategic investments to improve your technology as a means to further grow, you can turn to MSPNetworks. Give us a call at (516) 403-9001 to learn more.
Productivity is the lifeblood of any business, and understanding what it entails is paramount for every decision-maker in the corporate world. The concept of productivity is highly contextual, as no two businesses operate in the same way or are managed identically. Today, we present a set of key performance indicators (KPIs) that you need to consider. These twelve metrics will assist you in gauging whether your business is meeting productivity expectations or falling short.
Keeping a close eye on your revenue and sales figures is a fundamental productivity gauge. Monitor trends, compare them with previous periods, and establish attainable sales targets.
This metric calculates the percentage of revenue that remains once you deduct the cost of goods sold (COGS). A higher gross profit margin signals superior productivity in generating profits from your core operations.
Net profit margin measures the percentage of revenue remaining as profit after all expenses, including operating costs, taxes, and interest, have been subtracted. A higher net profit margin indicates a higher overall business efficiency.
Calculating the cost of acquiring a new customer is crucial. Divide your marketing and sales expenses by the number of new customers acquired. A lower CAC suggests improved productivity in gaining new customers.
CLV determines the total revenue a customer is expected to generate during their tenure as a customer. It helps in evaluating the long-term productivity of your customer base.
Assess the productivity of your workforce by tracking metrics such as sales per employee, revenue per employee, or units produced per hour worked.
The speed at which you sell your inventory is vital. Calculate this by dividing the cost of goods sold by the average inventory value. A higher turnover indicates efficient resource utilization and enhanced productivity.
Monitor how employees allocate their time, and consider employing tools like time-tracking software to identify areas of inefficiency and optimize resource allocation.
Evaluating how well your team executes projects and meets deadlines is particularly critical for service-based businesses or those engaged in project-based work.
Regularly monitor your cash flow to ensure you have sufficient liquidity to meet financial obligations. A positive cash flow is indicative of efficient financial management.
Assess employee morale and satisfaction through surveys or feedback mechanisms. High employee engagement is often linked to increased productivity.
Calculate the percentage of customers who continue to do business with you over a specified period. A higher retention rate underscores the effectiveness of your customer relationship management.
By tailoring these metrics to align with your unique business objectives, you can gain a perspective that guides you in making necessary adjustments to meet your specific needs. Regularly reviewing these KPIs is essential for continuous improvement. By embracing data-driven decision making, you can empower your small business to enhance its overall performance. To discover more about how our services can assist you, don't hesitate to reach out to us at (516) 403-9001 today.
Learn more about what MSPNetworks can do for your business.
MSPNetworks
1111 Broadhollow Rd Suite 202
Farmingdale, New York 11735