A number of recent industry reports have attempted to detail how banks are responding to the challenge, whether through investment, data management or new strategies to engage with customers. Finding the right products to sell However, some challenges come with technology. In my new series of articles, I will discuss the top four technology challenges that businesses are facing in 2018 and provide practical solutions for each of them. Finding a way to keep your business adapting to new technology while not creating a divide in the business is a major challenge for 2020. Having robust cybersecurity in place is a necessity. Again that is an area that can be helped by outsourcing your IT. Competition was minimal, technology wasnât as affordable as it is now and access to product was limited. Previous post: 5 Simple Customer Data Collection Methods to Help Your Business Thrive, Next post: 7 Reasons Why Your Business Facility Needs Barrier Gates Installed. Loss of revenue is just one of many repercussions hotels can face due to unorganized technology infrastructures. But for all the advancements there will be challenges as well. Call us on 01634 52 52 52, email hello@infotech.co.uk or contact us here. 1. Study authors write : âBusiness owners need to have a more transparent way of understanding the range of affordable technology tools in the marketplace ... and how to integrate them into their systems and ⦠Outsourcing IT support is a cost-effective way of having those top-end IT skills available to the business. While continual training is part of the equation, prioritizing skill needs is even more of a priority. Interest rates on the rise means businesses will pay more to borrow. However, a business will still need access to those skills. Start mobilizing. Here we cover five of the most common technology challenges that small businesses are facing, along with tips and strategies to turn those challenges into opportunities for innovation and growth. 1. A business is still responsible for their business data and following the regulations in place. But to avoid cyberattacks and ensure efficient daily operations, everyone must have some level of proficiency with tech. Sometimes it is best to wait till a few iterations have been made of a new technology to remove some of the bugs from the initial lunch. To pull that off, you’ll have to think like a disruptor. Guarding against cyberattacks means paying for extra training, personnel, and, in most cases, hardware and software upgrades. Challenge #2: Integrating applications. You still want to protect it from cyber attack but you need to make sure that your business can still operate productively. Personnel, and, in most cases, hardware and software upgrades 52! 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