Are you risking the future of your business with outdated technologies and inefficient software? According to Forbes, at least 80% of startup businesses fail within 18 months or less. Although there are a lot of different factors that come into play, entrepreneurs and new business owners are — overwhelmingly — making the very same mistake. Relying on outdated software can very well contribute to the downfall of your new business. Here are three key technologies where you do not want to skimp on costs:
Flexible Mobile Payments Solutions
Consumers are demanding greater freedoms when it comes to making payments. For that reason, it is imperative for companies to research and invest in mobile payments solutions, including software that enables companies to accept credit cards by phone. Starbucks, Dominoes, PayPal and many others already give consumers the ability to quickly and efficiently pay online. The demand is only likely to increase with time.
Affordable Cloud Computing Technology
“Data space can be a huge issue for small businesses. But you don’t need to purchase [an] expensive kit to get around this. Many small businesses are opting to outsource data storage,” The Telegraph explains. Cloud computing solutions enable startups to affordably and efficiently store company data. Cloud computing systems are also, for the most part, much more accessible on the go — allowing employees to log onto systems and/or refer to company information from remote locations while traveling or working from home.
Trust-Worthy Security and Backup Software
Reliable security and backup technology is critical to any business. Never opt out of security software when cutting costs. Whenever possible, encrypt company data and records to ensure the highest level of security. Make sure to backup all important files, too. Reinforce all security efforts by carefully and thoroughly training employees to identify and handle phishing emails and malware.
Do not let your business fail unnecessarily. Know what technologies you can — and, more importantly, cannot — afford to lose. Invest in reliable security software, opt for cloud computing solutions to save on server space costs, and research all methods of payment — including new (and increasingly popular!) mobile payments.