Backup in the Sky
Thankfully many decision-makers have come to their senses and realized
that magnetic media, like tapes and CDs, aren't valid solutions for backing up.
"Now that tapes are being used more for archiving, companies are starting to
turn to outsourced, off-site, redundant, automatic, internet-based backup
strategies," says Darren Schreiber, ITMS division manager at MicroMenders, a San
Francisco-based consulting and managed delivery firm.
There are risks and gains, but the latter more than outweigh the former. For
those who are still hung up on security concerns: If you've ever paid with your
credit card in a restaurant, you had a better chance of getting ripped off then.
Most of the internet-based backup services use the same technology as major
financial institutions. And if it's good enough for them, it's good enough for
me.
Online Banking
"It's a widely held idea that one of the key reasons businesses fail is
because their owners can't manage the business's finances," says Paul Rosenfeld,
vice president of small business solutions for -QuickBooks Digital Insight, an
Intuit company.
Since the Check 21 Act took effect almost three years ago, paper checks can
now be turned into digital versions. Businesses are busily scanning checks into
their online banking platforms, and checks are typically clearing in less than
24 hours.
This translates to improved cash flow and fund availability, but also means
more cash to manage. And if you already aren't doing a great job at that, this
may add salt to the wound. The ability to check bank balances in real time, pay
vendors in two clicks and conduct wire transfers on your own all from one
interface can be confusing and frustrating.
To help stop the madness, Intuit has launched Personal FinanceWorks to help
customers manage their finances soup-to-nuts style, by giving them an accurate
picture of where their money is going and how much they have available to spend.
At the same time, it will help smaller banks and financial institutions compete
and win in an increasingly competitive financial environment.
Security
Kevin Mahon, CEO and founder of KEMP Technologies, a firm that improves
the efficiency and effectiveness of e-business sites, is happy to finally
witness an "aha" trend in his industry. "Smaller businesses need the same
functionality as enterprises when it comes to their internet network
infrastructure. Although smaller businesses don't have large budgets to invest
in the exact same platforms as large enterprises, they're finally realizing that
both security and high availability are crucial in running a successful
e-business," notes Mahon.
And fortunately for small businesses, someone such as Roger Thompson of
Exploit Prevention Labs exists. Thompson spends his days tracking cybercriminals
and keeping tabs on how businesses are being faked out with new and increasingly
clever online crime schemes.
Thompson is wise to the web-based techniques hackers are using for profit and
growth. How can business owners address heightened security concerns as they
move into 2008 while continuing to conduct more and more business online?
Thompson recommends that businesses be even more vigilant about protecting their
websites from malware attacks and exploits that have the potential to steal
customer passwords, credit card numbers and basically any other bits of
sensitive information your customers may trust you to securely capture or store.
These six trends are by no means an exhaustive list. Think of trendspotting
as an integral part of your strategic process that's meant to shine a light on
what should be on your mind for 2008 and help you identify new opportunities,
tweak your positioning and widen your competitive edge for the year to come.
Coming next month: Technology Trendspotting for 2008.