AI is becoming a powerful disruptive technology in recent years. One poll showed that 86% of CEOs feel that AI is a mainstream technology that their companies heavily depend on.
According to a recent report by SaaS purchasing platform Vertice, 90% of buyers are overpaying for their SaaS, by an average of 20-30%. Many of these buyers are enamored with the idea of using AI to improve their business models, but don’t make sure that they are getting the right value from it. And with these tools responsible for so many indispensable business operations, this figure should be ringing alarm bells for companies of all sizes.
But why is this happening, and what can you do about it? Let’s unpack why your business might be overspending on its software subscriptions. The guidelines below will make it easier to get the most value from AI-driven SAAS services.
SaaS demand is growing in response to the proliferation of AI
Businesses need SaaS, since it is one of the easiest ways for them to leverage the power of AI. From human resources to customer relations to in-house comms, digital tools take the pressure off of members of staff by automating vital business functions and streamlining collaboration efforts.
But now that the average company is utilizing 110 different AI-driven SaaS tools each year, the sellers providing these services are responding to demand and hiking their prices. In fact, FastSpring estimates that 37% of vendors increased what they were charging between Q1 2021 and Q1 2022, driving up software costs for the average customer.
The problem of pricing visibility for SAAS companies offering artificial intelligence services
Software developers face a number of challenges when creating AI software businesses. One of their biggest struggles is finding a good price.
Rising prices make it more important than ever for AI software buyers to track down the best value plans for their organization. However, the main challenge that company IT, finance and procurement teams face when purchasing SaaS is the lack of pricing transparency. When shopping around and attempting to compare prices between different products, you may find that the vendors you’ve shortlisted haven’t made their pricing options publicly available. This makes it difficult for companies to compare the value of different AI applications.
While some choose to publish list prices online through their websites or third-party publications, many companies intentionally hide their price points — in fact, OpenView reports that as many as 55% of vendors choose to obscure. But why does this happen?
Usually, it’s because vendors are looking for prospective customers to reach out and get in touch with their sales teams to find out pricing information. This works to their advantage — once they learn about your needs, providers can give quotes for a tailored plan that might come in costing a little higher than a standardized price that you were looking to pay. And next thing you know, you’ll be on their books and moving through the sales process.
From the customer side of the deal, this makes it difficult to compare between vendor prices and get the best deal for the business. When vendors obscure their price points, buyers are unable to see what other organizations are paying for their SaaS, so lack the insight to effectively negotiate with leverage.
So, once this is all said and done, SaaS buyers will often find themselves overpaying for SaaS — even if they don’t realize that they are doing so.
Strategies for saving money on SaaS
There are a lot of benefits and risks of using artificial intelligence. AI technology can be very valuable, but it can also be very expensive. You have to make sure investing it doesn’t blow a hole in your budget. If you’re not cutting costs where you can and keeping your SaaS spend to a minimum, it could quickly spiral out of control. Between inflation, hidden contract clauses, and expensive upgrades, you’re likely to find your software costs growing year-on-year. But it doesn’t have to be this way — here are some top tips for saving money on your SaaS.
1. Cut out redundant applications
Because companies now have so many tools in their SaaS stack, it can be hard to keep track of which applications are providing the most business value. As a result, you might find that you’re paying for apps that are going unused, or that the company is using multiple tools for the same purpose.
This is where application rationalization can help. Application rationalization is the process of assessing the entire SaaS stack in use across an organization, to determine which contracts can be terminated, which need to be downgraded, and which should be retained. To get started, look into the associated usage patterns for each tool and the return on investment that you’re getting from your subscription, then make informed decisions about which should stay and which should go.
2. Negotiate your contracts
Once you’ve entered into talks with a vendor, it’s up to your company’s negotiation team to procure the best value contract. The price you’re quoted isn’t always the price you’ll end up paying — so make sure you send your most experienced, best-informed negotiators to handle discussions, equipped with market insight into the price points offered to other customers.
Consider negotiating contract terms that will reduce your spending down the line, such as the removal of clauses that could see your contract automatically renewed at a higher price than originally agreed. You can also negotiate for discounts in exchange for certain terms, for example if you choose to subscribe to upfront billing or a multi-year commitment.
Once you’ve cut down your existing contract outgoings and streamlined the procurement process for new subscriptions, you’ll be getting better value on your plans— and no longer overpaying for your organization’s SaaS.
Get the Right Price When Investing in AI SAAS Tools
SAAS technology is very popular in 2022. Fortune Business Insights shows that the market is growing by over 27% a year. However, there are a lot of nuances that you have to understand. One of the most important things that you need to do is make sure that you pay the right price for AI-driven SAAS tools. The guidelines above should help.
Blockchain technology has been instrumental in the growth of cryptocurrencies. Obviously, bitcoin was the first cryptocurrency to rely on blockchain technology. Many other digital coins have emerged, due to the growth of blockchain.
USDT is one of the newest cryptocurrencies that has arisen. Blockchain has not just made this new digital coin possible, but it has also become more easily integrated with other platforms. A number of regulators have raised concerns about this new digital coin, but it is becoming popular nonetheless.
USDT is available on multiple networks and is one of the biggest stablecoins by capitalization. It comes as no surprise that the best way to store it is in the best cryptocurrency wallets out there, which is able to connect to the blockchain. This is where MetaMask comes into play. Out of all wallets, it is by far the best decision to add USDT to MetaMask and it can connect easily with the blockchain, so let’s see how to do that.
Copy the USDT contract address
Before we start, we must mention that crypto terminology can be quite challenging for beginners. So let’s explain that MetaMask is a crypto wallet that you will need to store your crypto assets in, or in this case the stablecoin USDT. You can easily exchange the coins through the blockchain at your convenience.
In this article, we will be using crypto terms that you might not be familiar with. But don’t worry, it is easy to learn their meanings with a good crypto glossary, that will familiarize you with all the terms you need.
Before you can add USDT to MetaMask, you first need to purchase some of it. While you can do it through your bank account or third-party payment solutions, it’s easiest to buy it with a debit card. The actual procedure of buying this stablecoin is pretty simple, and for more info, you can check the TradeCrypto website that has a helpful guide on how to buy USDT with a debit card. Once you have it, in order to add USDT to MetaMask, you first need to copy its address. Thereason for this is simple, USDT is not automatically added to MetaMask, meaning that you will need to import it as a custom token. Here is how to do that:
Go to CoinMarketCap.com;
Look for “USDT”;
Find the part that says “contracts”;
And from there, you can copy your USDT address.
How to log in to your MetaMask wallet
If you are a new MetaMask user, you will need to sign up and make an account. In order to start, you will first need to download the MetaMask Chrome extension.
Go to the wallet’s official website;
Click the “Install MetaMask for Chrome” button;
On the new page, click “Add to Chrome”;
Now, pick “Add extension” and open it;
All that’s left is to start the sign-up.
That is all that you need to do! You don’t need to connect directly to the blockchain, because the wallet can handle that process for you.
How to sign up on MetaMask
Start by opening the MetaMask extension or mobile app. When you do, the first thing you will need to do is agree to the user terms. Afterward, you need to select the “Wallet Creation Button” (you will need to agree with the disclaimer). As you do that on your screen, you will get a phrase. Make sure to copy it; the more copies, the better. This will be your recovery phase. In order to confirm the phrase, you will need to enter it. And that is how you create a MetaMask wallet!
How to login on MetaMask
On the other hand, if you already used MetaMask, then all you need to do is log in! In order to log in, you will need your MetaMask sign-in password. Although if by chance you forget the password, you can access your account by using the secret recovery phrase (the one you got when signing in for the first time). How to log in with the password:
Open the MetaMask wallet software on your device;
If you are using a phone open the MetaMask app you installed on the phone;
When the main screen opens, you need to enter the MetaMask sign-in password;
Next press “Sign In” and your wallet will be open for you to use.
Click on “import tokens”
So, after you buy USDT, copy its address and open the MetaMask wallet, there is still more to do. The next step is to import USDT. For starters, make sure that the “Ethereum Mainnet” network is selected. If by chance it isn’t, then you need to manually select it. In order to complete the process, you will need to scroll down and select “import tokens”. This will mark the beginning of importing USDT as a custom token.
Paste the USDT contact address
The last thing you did was “import tokens”. So now you should be on the “Search” tab. There you can search for “USDT” and add it as a custom token.
Click on “Custom Token” and begin adding a custom token.
Three fields will now appear: ”Token Contract Address”, “Token Symbol”, “Token Decimal”.
Select the “Token Contract Address” field.
Paste the USDT address there.
Once you pass the address, the rest will be added manually.
All that is left is for you to click on “Add Custom Token”.
Send or receive USDT
Now that you clicked on “Add Custom Token”, your USDT was added to the Wallet. If you want to make sure it was added you can always check in the tab labeled “Assets”. Having your USDT there means that you are now eligible to send or receive USDT. To send, you just need to click on “Send” and enter the address. And to receive you need to share your address.
How to deposit with MetaMask?
So, what do you need to do in order to deposit with MetaMask? First, you need to go to the BTSE Wallet Page and select the currency.
Then click on “Deposit” followed by selecting the MetaMask icon. After choosing MetaMask, the extension window will pop up. There you will need to press “Next” and “Connect”.
After everything is connected, you will finally be able to use the MetaMask deposit option.
Enter the amount;
Click “Deposit”;
“Confirm”;
MetaMask will inform you when the trade is confirmed.
After getting the confirmation, the trade deposit will be finished. It is not hard to do if you follow the steps closely.
Blockchain Makes USDT Wallets Possible
Blockchain is vital to the rise of cryptocurrencies like Tether and USDT. A growing number of cryptocurrency investors are investing in USDT. This digital coin has become highly popular in recent years due to the growth of blockchain technology. As a result, a growing number of investors are using USDT wallets. Investors should invest in one if they want to purchase this cryptocurrency.
Did you know that companies are projected to spend over $107 billion on AI-based marketing solutions by 2028? There is no doubt that artificial intelligence is creating a number of new changes for people in the marketing profession.
However, many people are still wondering what the actual effects of AI on marketing will be. If yo are in the marketing profession, you will need to learn more about some of the biggest AI trends that will change your career in the years ahead.
Biggest AI Trends Shaping the Marketing Profession
Even companies that specialize in serving local businesses that aren’t very technologically based will benefit from using AI to their advantage. Landscape marketing professionals can even use AI to help their clients grow.
Is your landscaping company struggling to keep up with the pace of the fast-changing digital world? Are you unsure how approaching this new era should shape your brand, advertising style, and content strategy? It’s a fast-paced world out there, and unless you stay ahead of it, you risk falling behind. Therefore, investing in AI to boost your marketing strategy is more important than ever.
Proper landscape marketing can help you see an increase in your sales and eventually help you spend less on marketing. In just over a decade, digital marketing has grown from a luxury that only the biggest companies have to a necessity for landscaping businesses of all sizes. These changes have made marketing more complex, and they’re not slowing down anytime soon.
Savvy marketers will continue to use AI to improve their effectiveness. Let us look at the factors changing the marketing landscape and how your landscaping business can benefit from this.
Use AI to create graphics for online advertisements
Graphics play a very important role in online advertising. Unfortunately, many companies struggle to afford to pay for talented graphic artists.
The good news is that AI technology has made it possible for marketers to create quality art for a fraction of the cost. AI tools like NightCafe, DALL-E 2 and starryai allow designers to create up to 20 images a day for free! These AI-based graphics can be invaluable for marketers.
Use of AI-driven SEO to boost web presence and rankings
Let’s face it; the Internet is very broad, and many rely on it to grow their businesses. The traffic we get often depends on our ranking in search engines. This is why it behooves us to keep up with the latest trends and ensure we use the best practices for SEO or Search Engine Optimization. Many factors go into SEO, but a few of the most important ones are:
The use of keywords: these help potential customers find you when they enter relevant searches into Google or other engines.
The quality of your content: includes not only the writing itself but also things like photos, videos, and infographics. Your content should be engaging and informative so that people will want to stay on your site once they find it.
How often you update your site: fresh content helps keep people coming back, and it also tells search engine algorithms that your site is active, which can help boost your rankings.
AI technology has become very important for modern SEO. Companies can use AI-driven tools like SEMRush, Keyword Chef or Ahrefs to automate their keyword research. They can also use AI to automate new content generation strategies to keep their websites fresh. AI will become even more important for SEO in the years to come.
While you may not have the expertise to do all of this yourself, plenty of resources are available to help you get started. You can also hire someone to do it for you if you feel like that would be a better investment of your time and money.
Use of Google My Business
Google My Business or GMB is a free business listing directory offered by Google. It allows business owners to manage their information and interact with customers through features such as messaging, reviews, and posts. GMB is important for two main reasons: first, it can help improve your SEO by making sure your business’s name, address, and phone number (NAP) are consistent across the web. This signals to Google that you are a legitimate business, boosting your search rankings. Secondly, it provides potential customers with an easy way to find out more about your company and what you have to offer before they even visit your website. Creating a GMB listing is simple and only takes a few minutes- if you haven’t already done so, we recommend setting one up for your business today!
AI technology can also help companies automate and optimize their Google My Business listings. In fact, Search Engine Journal reports that Google itself is using AI to automate this process for companies on their behalf.
Automated lead tracking systems
The world of sales agents is changing, and there are now automated lead tracking systems that can help many businesses to organize and follow up on potential sales leads: You can get systems that track your calls, emails, and follow-up appointments to make it easier to see who you have spoken to when you spoke to them, and what their response was.
The systems can also keep track of your sales pipeline, so you know where each lead is in the process and what needs to be done next. This can take a lot of the guesswork out of sales and help you close more deals. If you are not using a lead tracking system already, it may be worth investigating to see if one could help improve your business’s bottom line.
Automated call tracking and recording
As a landscaping business, you are likely to have many phone calls from potential customers. It can be helpful to have an automated call tracking system to see how many calls you are getting, what times of day they are coming in, and how long each call lasts.
This information can be valuable for two reasons: first, it can help you determine whether or not your current marketing efforts are working (if you see a spike in calls after running a new ad campaign, for example). Secondly, it provides data that could be used to improve your business’s processes- if most of your calls are ending up as dead ends because the potential customer is not ready to commit yet, then maybe you need to change your sales pitch.
Additionally, some call tracking systems allow recordings of the conversations between agents and customers to be made and stored. These recordings could then be listened to for quality control purposes or for training new staff members.
Well-designed websites
The design of a website is an area where many businesses have failed in the past, but it is also an area where they can now be very successful. Well-designed websites are easier to navigate than those that are overly complicated and cluttered. They are also designed to be helpful and provide the information your customers need without making them search for it.
Use of AI to get more qualified traffic with Google Ads
AI technology can also help marketers get more quality traffic with Google Ads. They can use AI tools to automate their keyword research and optimize their ad copywriting.
Many marketers now realize that there are certain advantages to be gained by using Google’s paid advertising services. Some of the benefits of using Google Ads include:
You can target your ads to people who have already shown an interest in what you are selling. This is done by targeting keywords they have searched for in the past or by targeting them based on their location.
You only pay when someone clicks on your ad, so there is no wasted spend.
You can track how many people see your ad and how many of them click through to your website so you can gauge its effectiveness.
Once you stop running the ad, the traffic will also stop- this means that you are not locked into a long-term contract like with some other forms of advertising.
If used correctly, Google Ads can be a great way to bring qualified traffic to your website and generate leads for your business without breaking the bank.
As you can see, companies that use AI to fine-tune their Google Ads strategy can enjoy a higher ROI.
AI is Changing the State of Marketing
All in all, if you want to stay ahead, you need to be aware of the factors that are changing the marketing landscape. Since AI technology is so important for modern marketers, you can’t afford to overlook its importance. You need to be ready for this new way of doing business. The best way to do this is to understand the factors changing the landscaping business and ensure your marketing is ready for this new era, which is going to be guided by new advances in AI.
Did you know that the market for smart homes is currently worth over $79 billion? There is a reason that more families are investing in this technology. Smart home technology has revolutionized the way we improve the safety of our homes and families.
Digital locks and cameras allow us to safeguard our doors, windows, and other entry points 24/7 and monitors anyone who enters our home.
When triggered, intrusion alarms make loud noises to deter burglars.
Special surveillance software allows us to evaluate suspicious CCTV footage from any internet-connected place. This is especially beneficial in the event of a break-in while we’re gone.
Taken together, these technologies provide individuals with comprehensive security coverage suitable for any home. This is one of the reasons that smart homes help us live better lives.
You could also try Honeywell Security systems with smart home technology is the perfect way to keep your family safe, secure, and connected. The innovative technology allows you to monitor activities within your home remotely from any mobile device.
Through automatic notifications and mobile alerts, users can know exactly what’s happening at all times – from who is at the front door to when a piece of furniture is moved.
Smart Lighting
Smart lighting systems are one of the most popular types of smart home technology available today. These systems allow you to control all of your lightings from a central location, such as your smartphone or tablet.
This gives you more control over when lights turn on and off—for example, you can set them to turn on at dusk or turn off when motion is detected in an area. This type of automation helps discourage intruders by making it seem as though someone is always home, even when they’re not.
Smart Doorbells
Smart doorbells are another great way to increase the security of your home. These cameras allow you to see who is at your door without having to open it—and they also record video footage so that you can review any suspicious activity that takes place outside your front door. Some smart doorbells even have AI-powered facial recognition software that can alert you if an unfamiliar face appears on camera.
Security Systems
Security systems are a must-have for anyone looking to make their home safer. Traditional security systems rely on sensors that detect window and door openings, but these days there are also more advanced systems available with features like remote monitoring and real-time alerts via text message or email.
Depending on the system you choose, some may even include video surveillance capabilities so that you can keep an eye on your property from anywhere in the world using an app on your smartphone or computer.
Conclusion
The method in which we make our homes and families more secure at night has been completely transformed by the advent of smart home technology.
We are able to protect our doors, windows, and other entry points around the clock with the use of digital locks and cameras, and we can also keep an eye on anyone who comes into our home.
When activated, intrusion alarms produce a lot of noise to discourage potential thieves from breaking in. You are able to assess potentially suspicious CCTV footage from any location with an internet connection thanks to specialized software for monitoring. This will be especially helpful in the case that there is a break-in while we are away.
When combined, these technological advancements offer individuals comprehensive security coverage that can be tailored to the needs of each home.
Artificial intelligence has offered a plethora of benefits for businesses in every sector. The ecommerce industry is among those most benefiting from advances in AI. Therefore, it is no surprise that the market for AI-enabled ecommerce services is projected to be worth nearly $17 billion by 2030.
Ecommerce giants like Amazon are finding creative ways to leverage AI. In 2018, Blake Morgan wrote an article in Forbes detailing how Amazon rebranded itself around AI. AI technology helped the online titan improve product forecasting, deliver a higher ROI on ads to sellers and make better product recommendations.
However, AI is arguably even more beneficial for smaller sellers. If you are running an ecommerce business, then you should try leveraging AI strategically to get the best results.
How AI Can Help Your Ecommerce Business Grow
If you’ve just opened up a business in the booming world of e-commerce, you’re no doubt considering expansion opportunities. Expanding into new markets, a dependable but modest store might become a household name thanks to the power of the World Wide Web. Having a solid foundation for your company is crucial before you even consider growing it.
A business can’t be built on a shaky foundation like a home. Before thinking about growth, you should guarantee the quality of your products, website, and client service. After you’ve mastered the basics, you can expand your web company as much as you want.
The good news is that AI technology can help you make the most of the opportunities available to you. To expand your internet business, here are some of the most important things you need to do.
Increase Your Efforts with an AI-Driven Inbound Marketing
More and more gadgets and operating systems are supporting eCommerce, making the process quicker and more convenient for consumers. Voice-activated gadgets are increasingly becoming popular among consumers. Consequently, e-commerce businesses that want to grow must prioritize the development of distinctive experiences for their customers across all channels. Inbound Creative Marketing bring consumers to your online business by providing them with useful and entertaining content. In other words, it’s a set of actions that, when taken together, will bring in scalable income for your business.
AI helps with inbound marketing in many ways. The Digital Marketing Institute has shared some examples.
Advertising and Sales.
Blog posts, Facebook updates, infographics, videos, and influencer marketing campaigns are all part of an effective inbound strategy for eCommerce since they repeatedly get your brand’s name in front of your target audience.
Building a steady customer flow is essential to any online store’s success. SEO is time-consuming and can’t rely just on social media marketing. You need a solid Google Ads plan to increase your business’s web traffic. There has to be some kind of Google Shopping and search advertising included, if for no other reason than to re-market to those who have already visited the online shop.
You should also check whether your company is showing up in relevant Google Search results for its target audience. AI technology has made this easier than ever. Google’s algorithm has to be “pleased” if you want to rank well and have your brand exposed to consumers. Search engine giant Google is solely concerned with providing people with useful information. The algorithm will not consider your site relevant if people find it using the keywords you’ve chosen but are not making a purchase.
Inspecting Old Programs
The software you use to expand your company is as crucial as the software you use to run it. You should probably check the current software to ensure it will be sufficient for the foreseeable future. You need to look at everything from accounting software to marketing software to customer relationship management (CRM) systems.
In order to keep track of your progress as your eCommerce firm expands, you’ll need a reliable inventory management system. If your company is experiencing growth and you anticipate needing extra warehouse space for merchandise, warehouse management is an additional consideration.
AI technology can help you do an inventory assessment. It can inspect applications to see if they are outdated and recommend replacements.
Make Your Site Better
Your choice of e-commerce platform—whether it be your own website or a third-party site like Amazon or Etsy—is crucial to your company’s success. Make sure your website is inviting and appealing to first-time visitors. It is crucial to use high-quality product photos and to provide buyers with all the information they need to make an informed purchase.
Improve the quality of the service you provide to your clients.
Providing excellent service to customers is essential to any business looking to grow. If your consumers have a positive experience with your organization, they may return for more purchases, tell their friends about your services, forget any past negative interactions they may have had with your firm, and even become brand advocates. An inability to solve a customer’s problem is a common reason for leaving a company. A primary goal of every web company owner should be customer retention.
As we stated in the past, AI is great for website development and optimization. Our past article on this topic will give you some advice.
Incorporate Automation
Automation is one of the biggest benefits of AI technology. Incorporating new locations or services into your organization is a labor-intensive process. It’s not unusual for you to devote more attention to certain projects while ignoring others.
With the advent of automation, online business has a bright future. That’s because it’s designed to cut down on the time and money you spend on routine chores. The time and energy you save by automating routine processes might be better spent on higher-value activities, such as developing an engaging content strategy or innovative marketing initiatives. Task automation may pave the way for increased revenue. E-commerce systems may automate customer service interactions, including welcome emails, discount coupon surveys, and the recovery of abandoned shopping carts.
Building access gadgets, badge readers, fuel usage and route monitors (for vehicle fleets), and apps that connect to the enterprise IT infrastructure create, among others, can be targeted by hackers to compromise not only the devices but the entire network. Worse, attacks on the IoT and OT systems used in power generating stations, production lines, medical facilities, and other critical infrastructure can result in serious or tragic outcomes including actual loss of lives.
Just like most other things that gain widespread use, regulation has started creeping into IoT products. With more than 13 billion IoT devices across the world, it is not surprising that efforts have been undertaken to ensure their security. Here’s a rundown of some notable legal and regulatory requirements imposed to ensure IoT and OT security.
IEC 62443
IEC 62443 or the International Electrotechnical Commission standard 62443 is a series of standards created to counter cyber risks involving operational technology in automation and control systems. It lays out standards for different categories or roles, namely operators, service providers, and component/system manufacturers.
Introduced in 2021, IEC 62443 presents tasks and practices aimed at identifying cyber risks and determining the best defensive or counter-offensive measures. It requires organizations to create a cybersecurity management system (CSMS) that includes the following key elements: initial risk evaluation and prioritization, technical risk assessment, security policy formulation, countermeasure identification, and implementation, and CSMS maintenance.
IEC 62443 does not specifically target IoT devices, but two of its sub-standards are highly relevant to IoT and OT use. IEC 62443-4-1 and IEC 62443-4-2, in particular, require IoT product makers to ensure a secure product development lifecycle and have in place technical system components that guarantee secure user identification and authentication, product usage, system integrity, data confidentiality, data flow regulation, timely security event response, and resource availability.
Properly securing IoT devices is a complex and difficult process, given that it is not viable to install cyber protections for individual IoT devices. However, global security standards such as IEC 62443 compel manufacturers and others involved in the production, deployment, and use of IoT to play a role in addressing the risks and threats.
IoT Cybersecurity Improvement Act of 2020
The IoT Cybersecurity Improvement Act of 2020 is a law that mandates the National Institute of Standards and Technology (NIST) and the Office of Management and Budget (OMB) to undertake steps that advance IoT security. It requires the NIST to formulate guidelines and standards to ensure the secure use and management of IoT devices in federal government offices and connected agencies. On the other hand, the law orders the OMB to review the IT security policies and principles of federal agencies in line with the standards and guidelines set by NIST.
The NIST has a website that presents the resources it has developed in response to the IoT security law. These resources include the NISTIR 8259, which provides security information and guidance for IoT manufacturers; the SP 800-213 series, which contains information for federal agencies, and information on IoT security for consumers.
While the requirements set by the IoT Cybersecurity Improvement Act of 2020 are only for federal offices or agencies, these are expected to pave the way for the adoption of similar IoT security measures in the private sector. After all, if IoT device makers are already creating secure products for their government clients, there is no reason for them not to adopt the same cyber protections for the products they sell to other customers.
EU IoT Cybersecurity legislation (proposed)
The European Union does not have its version of the US IoT cybersecurity law yet, but it already has one in the works. This proposed IoT security legislation is not a standalone bill but a part of the EU Cyber Resilience Act, the first law covering the entirety of the European Union to impose rules on device manufacturers.
Once the law is enacted, companies will be required to get mandatory certificates that serve as proof of their compliance. The legislation plans to impose heavy fines on IoT product makers that fail to meet the requirements or violate regulations. Offending companies can be fined up to €15 million or 2.5 percent of their turnover from the previous year.
The EU’s proposed IoT security law is notably broader in scope compared to what the United States currently has. The proposed legislation will provide the European Commission the authority to ban or recall non-compliant IoT products, regardless of whether they are being sold to the government or to private customers.
IoT security labeling program (proposed)
Nevertheless, the United States government plans to have an IoT security labeling program, which in a way expands the scope of its IoT security endeavor beyond the federal government offices. Set to be implemented in the spring of 2023, the program will provide information (through physical labels) regarding the security of IoT devices in the market. It aims to help buyers of IoT products make informed and better purchase decisions.
The proposed IoT security labeling program is comparable to the Energy Star labels, which provide consumers with information about the energy efficiency of appliances or electronic devices. It does not throw unsecure IoT products out of the market, but it makes them less acceptable to buyers.
There are no details yet as to the certification and labeling process. It is unclear if companies are allowed to self-certify or if they can refer to third-party certifying bodies. However, most industry players reportedly expressed support for the plan.
Other notable IoT security efforts
Other countries also acknowledge the importance of securing IoT devices. In Japan, for example, a law was passed to allow the government to hack into IoT devices used not only in government offices but in private establishments and homes. The government’s rationale: finding and addressing the security loopholes before threat actors do.
In China, the Ministry of Industry and Information Technology (MIIT) released guidelines for the establishment of a security standard for the internet of things. The standard includes guidance regarding software security, data security, and user access and authentication.
Singapore, on the other hand, already has an IoT cybersecurity labeling program that is recognized by Finland and Germany, which also have their respective labeling programs. The program is officially referred to as the Cybersecurity Labelling Scheme (CLS) for consumer smart devices.
The development of the IEC 62443 series of international cybersecurity standards and the implementation of related laws and regulations in different countries is a welcome development for IoT and operational technology security. IoT and embedded devices are more often than not ignored as cyber-attack surfaces. Organizations benefit from the regulations and legislated security requirements, as they are likely to disregard, downplay, or pay little attention to the increasing risks brought about by the expanding IoT ecosystem.
Data analytics is not a new term, as it’s the same as interpreting information. It has been going on in various fields for many years and is now being incorporated into the business. The primary purpose is to predict or have future insights. Today, business data and analytical insights are the most sought-after to increase revenue and improve corporate decisions.
Business information can consist of anything and varies from business to business in every field. The company doesn’t need to buy information as information is the company’s information. Instead, this information is converted into insights for the final decision-making. Below is a more detailed explanation.
How Are Analytical Insights Formed From Business Data?
Business data is a broad field that, like every other type of data, is statistics about the business. Having accurate and a good amount of information is needed for real insights. Analytical insights are formed based on this data through a few simple steps.
Data Collection
Businesses need to store large amounts of information, and several fields of that data come under different categories. Therefore, all information on a particular category needs to be segregated. After this, all these segregated figures are stored in one place to ensure that you can successfully perform further steps.
Relevancy Evaluation
Once all the information needed by the required field is found in one place, it is segregated based on relevancy. Here few relevancy evaluations are made to sort the information as much as possible. In doing so, irrelevant information and information that could hinder the accuracy of the insights are removed.
Visualization of Data
Now, after getting the correct data, it is converted into a form of visual data. It can be any graph, usually, the one which can easily describe the data better and is neat for pictorial representation. In the end, these figures and models are required to get analytical insights.
Turning It Into Insights
Reading and observing the visual representation gives various conclusions. According to the observations, the goal for the requirement of the information conclusion is transformed into insights. It is these analytical insights that are then used for decision-making.
Why Opt For Data Analytics?
Usually, the whole process of obtaining business data and analytical insights needs a person skilled in this field, effort, and time. But that’s not the case, as it’s not necessary to always have a person for this job; you can opt for other means, such as other companies or applications for the same task. Below are the top three reasons why it is crucial for your business.
Improves Efficiency
Data analytics is the simplest way of transforming a large group of figures simply and understandably. With the graphical help presentation and analytical insights, one can use them to check the effect of trends, work routines, and even business growth.
Better Decisions-Making
When there are accurate figures, there are more accurate insights. Analytical insights need exact figures and without which you cannot extract insights. Because of their accuracy, one can make better decisions solely based on them.
Increase Revenue
It is one of the most sought-after reasons for opting for data analytics. Every business needs to generate increasing revenue year by year to operate appropriately. Data analytics helps them by providing the most accurate insights for any purpose and presentable information, which allows them better resource their needs.
Conclusion
In today’s world, everywhere there is data, and everything works on data. With it, it is possible to accomplish a task correctly. It is the same case for businesses, not to mention that they have extensive archives for storing business-related facts and figures. Using this information, they analyze the increasing and decreasing trends and extract needful insights. These insights then help the company in decision-making and increasing its revenue.
Cloud Technology is Driving More Companies Towards Embracing Remote Teams
Remote teams are certainly a part of the future of work. There’s no denying that the COVID-19 pandemic has caused the number of remote offices to rise dramatically in the last few years, but the movement to make telecommuting mainstream has been around for decades before then. This helped more organizations realize the potential of utilizing cloud technology.
In the pre-pandemic United States, for example, about 17 per cent of workers were already working from home five days a week or more. This might just be a small portion of the working population, but it’s nothing to scoff at as well. Then, during the pandemic, this ballooned to 44 per cent of US-based workers. These figures are expected to rise even further in the coming years.
Embracing the future of work as early as today is a significant decision for any company. This is where cloud technology will become so important.
It’s a must to plan this move carefully so that your business and employees can reduce the risks that come with the transition while maximizing its benefits. In order to realize these benefits, they will need to take advantage of cloud solutions. To that end, here’s a guide on how to successfully transition to a remote team from an on-site one:
Invest in the Right Cloud Technology Services
A company must invest in a robust digital work environment to ensure that its remote employees are able to retain or even improve their productivity rates. For the most part, this means that they need to take advantage of the right cloud services and find a reliable cloud hosting provider if they intend to host large amounts of content. This way, despite the physical distance, the members of the team can still collaborate and contribute individually to the company’s shared goals.
Cloud-based collaboration tools for file storage and sharing, project management, and scheduling, for example, can help managers streamline processes and stay on top of the deliverables of every member of the team. A free video meeting application, on the other hand, can play an integral role in helping the members of the remote team connect and communicate with each other.
A number of cloud-based tools also make it easier for employees to communicate. Skype, Happeo, Discord, Slack, Zendesk and Ring Central are some of the best cloud-based tools for boosting communication between employees. The employees must master the use of these digital tools as part of their transition to remote work or during their onboarding process as a part of a remote team.
Come Up with a Remote Work Policy and Plan
Having the right cloud tools is only the first step. It’s of utmost importance for a company to set up rules for remote work before it gives employees the option to work outside the office. The administrators, managers, and human resources team must collaborate and come up with a plan to ease employees into their new work setup. Cloud technology is only useful if it is used properly, so having these policies in place is vital. Microsoft has a template that you can use for your own cloud-based remote team.
This working group can, for starters, determine who is eligible to work remotely and when they’re allowed to do so, how their deliverables and performance will be tracked, and the security measures they should take to protect the systems and assets owned by the business. If the company will be requiring remote workers to use specific tools, the working group can schedule a training period to familiarise the team with the said programs.
Preparing a detailed policy and plan will help the company thoroughly prepare its employees for these future changes and enable it to foster an image of stability during the transition.
Keep Everyone on the Same Page
Building a communicative culture is a must for a company that aims to benefit from a remote work setup. The leaders of the business can guide employees by making serious efforts to keep everyone informed of the step-by-step process of transitioning to remote work.
Perhaps the company can provide a website, brochure, or post that will serve as an official source of all details that an employee may want to know about the upcoming changes. Maybe there are training sessions that they should attend or certain platforms they should sign up for by a particular date, for example.
This way, the company can avoid confusion or miscommunication while transitioning to telecommuting. The habit of communicating clearly and consistently should be retained and further enhanced once the business has completed its transition to a remote office.
Prepare People and Lead Them with Empathy
Not all in-office management styles translate well when carried out in digital and remote workspaces. A company that is making a transition to remote work, then, must brief its managers on how a non-face-to-face work setup changes the dynamics between their team members. It’s especially important to learn how to lead a team with empathy even if its members aren’t physically present in the same room.
Managers must get used to relinquishing control and trusting their team members more, as they won’t always be there to check on their remote employee’s work in real time. Throughout the transition process, the business must work together with its managers and refine its recommended management style so that it’s better suited to remote work.
It’s also a good idea to prepare managers for effectively assisting team members who may be having difficulties adjusting to the new work environment. This, in turn, will give them the tools they need to motivate their struggling team members to slowly but surely adapt to and succeed in a home-based office.
Companies Must Prepare Employees for Remote Teams
Cloud technology has changed the modern workplace forever. One of the biggest advantages of cloud technology is that it has helped improve remote teams.
Deciding to transition from an office-based team to a remote one is a great leap for any organization. With the right preparation, though, your business will be able to slowly but surely ease its employees into a smarter, more efficient work setup where they can remain productive while enjoying a better work-life balance.
With technological advancement, data revolutionizes many business processes. Experts assert that one of the leverages big businesses enjoy is using data to re-enforce the monopoly they have in the market. Big data is large chunks of information that cannot be dealt with by traditional data processing software. It needs to be analyzed with premium tech tools to deduce insights germane to user experience as well as scaling businesses. Big data analytics is finding applications in eLearning. By analyzing big data, Edutech businesses discover interesting ways to revolutionize learning as we know it.
Year after year, the volume of data in eLearning (and the need to analyze it) increases. In 2017, 77% of U.S. corporations were using eLearning, and 98% planned to adopt it by 2020. Statistics show that Edutech will have an average compound growth rate of 16.5% between 2022 and 2030. Post-pandemic, it is a fact that there is the rapid adoption of eLearning and a growing base of users. The big data market is projected to reach $325 billion by 2025.
Leap forward since the adoption of big data analytics.
Twinslash helps Edtech businesses build eLearning apps that leverage big data analytics. With two decades of experience in the industry, this software development company uses the latest technology to create solutions for SMBs and large companies. Some of their solutions include:
big data functionality capable of processing national and state-district level statistics,
AI algorithms to formulate automatic solutions,
combining data analytics tools with data visualization to show hidden and profound insights to business managers.
The Internet giants dominate the eLearning software market. Still, there’s plenty of room for startups and SMBs to launch web-based learning apps, provide corporate training functionality, or build LMS. You can carve an EdTech niche for your project with a reliable development company.
What Is Big Data in the eLearning Context?
As established earlier, big data goes beyond the volume of processed data — it’s more strategic. It shows hidden insights by intuitively collecting data sets capable of improving learning. For example, big data analytics can show demographic information of a project’s eLearning participants (the distribution across states in the country, age, etc.). This assists in understanding why a segment of the audience responds more to a set of courses. Big data analytics can also analyze what platforms people use the most to learn online. Is it a web or a mobile version? What devices are they signing in from? What features of the course get the most interaction from users? The details are collected in big analytics to present new opportunities for eLearning businesses.
5 Main Benefits of Big Data Analytics in eLearning
The benefits of big data analytics in eLearning are bi-directional. On the one hand, it helps effective data management of Edtech companies while providing useful insights to leverage for business growth. On the other hand, it keeps track of users, assesses their experience, and guides developers on how to improve it even more. The five key benefits of big data analytics in eLearning are listed below.
Showing hidden patterns and collecting relevant data. Big data analytics collects a wide range of data on eLearning platforms. As the users navigate through different interfaces of a platform, data is collected to give comprehensive analytical information on the overall usage of your service. Thus, Edtech companies are confident that they can improve the experience, get critical feedback, and be abreast of opportunities through data.
Assess performance and provide feedback. With big data analytics, teachers, educational managers, and educational content creators can receive real-time feedback about the performance of their courses. Thankfully, with big data analytics, performance goes beyond registration or the number of active learners. It can show the features they enjoy the most on your platform and what courses they choose more frequently. Suppose eLearning is the future and holds the potential to replace unnecessary on-site learning. In that case, this feedback is pertinent to the industry’s overall success.
Real-time information about the performance of students. Big data analytics affords Edtech companies the luxury of tracking individual engagement and performance of students taking courses online. Teachers and educational managers can now assess the effectiveness of their students relative to the quality of engaging content on their eLearning platforms.
Assessment and behavioral learning. Big data analytics can be used to assess learners on the eLearning platform. Even better, beyond these assessments, course creators can learn about the behavior of users and make necessary changes to help/improve their learning experience on eLearning platforms.
Analyzing the performance of individual courses. Teachers can now see real-time statistics about individual courses on their eLearning platforms. They can determine specific aspects of each course that need improvement and see whether their users understand the information.
How Big Data Analytics Influences eLearning
The influence of big data analytics on eLearning cannot be overemphasized. Ultimately, it helps Edtech content creators deliver the right content and target them to the audience that needs it the most based on previous observations. This means that users will get value for their money. In turn, Edtech companies will get immense possibilities (backed up by big data analytics) for improving their services. Through thorough assessment and data visualization of the performance of course contents, learners’ behavior and experience, big data analytics guarantees the ultimate level of service for Edtech companies leveraging this solution.
Big data analytics’ influence is two-sided as well. It will not only ensure a smooth data management process in a company but make eLearning more interesting for students. Combined with VR or AI, it can do wonders. Visual representation of ideas and concepts helps learners to memorize and understand them better, which is extremely beneficial for medical students, for example.
Big data can also make basic levels of education cheaper by eliminating the need for teachers and professors. There are numerous free apps that can be downloaded in a few clicks, and popular services like Udemy or Coursera offer free courses for everyone interested in the topic.
Conclusion
EdTech companies not using big data analytics stand more to lose than gain. The eLearning sector will definitely undergo progressive transformations when the technology will be widely adopted and studied. It offers us many ways to not only reconsider our approaches to learning but make the process itself more interesting, effective, and personalized.
Cloud technology has led to a number of amazing benefits for companies all over the world. Therefore, it is hardly surprising that global companies are projected to spend over $1.2 trillion on cloud solutions in 2027. One of the many reasons companies are utilizing cloud technology is that it allows them to take advantage of remote working opportunities.
As more businesses take advantage of the benefits of cloud technology, they are able to use remote workers to provide a number of services that previously required workers that were onsite. Virtual receptionists are among the workers that are currently able to assist companies offsite through the use of cloud technology.
But are virtual assistants actually useful? How does cloud technology help them serve their employers or clients?
Cloud Technology Helps Virtual Receptionists Offer Excellent Value to Customers Around the Globe
When missing a single phone call can cost your business £1,200 on average (at least according to BT Business), you must be able to answer calls professionally. But when you’re a small business or working for yourself, that’s not always easy.
If you’re with a client, in a meeting, travelling, working on a project, or even just accidentally miss the call because you don’t hear your phone ringing, you’re potentially losing money.
Using BT Business’ estimate as a baseline, even missing one call a week could cost your business £62,400.
Miss one a day (not even counting the weekend), and you’re looking at an average of £312,000 lost a year.
The good news is that cloud technology has made it easier than ever for receptionists to handle these tasks from afar. Many virtual receptionist services talk about the benefits that cloud computing brings to their business models. They point out that the cloud has helped them maximize the uptime of their call service models and connect to customers anywhere in the world.
You might have heard of virtual receptionists before. However, you might not have thought about the benefits that they can bring to your organization as they use cloud technology to engage with your customers.
They work the same way an office receptionist would, dealing with incoming calls and handling customer enquiries efficiently and professionally. Whether that’s taking messages, transferring calls to the correct team member, or sometimes providing answers to customer questions directly. They can also help with some of your business admin, like diary management and booking meetings.
But is it really worth investing in a virtual receptionist? And what benefits can you expect to see if you do?
Let’s find out.
How Does Cloud Technology Help Virtual Receptionists Do their Job?
The cloud helps receptionists serve their clients in a variety of ways. The biggest way that virtual receptionists use the cloud is through cloud telephony. You can learn more about this practice on TechTarget.
Cloud telephony essentially allows people to place calls anywhere they have an internet connection through the use of cloud interfaces. Receptionists are effectively able to take and place calls anywhere, as long as they have internet access.
The cloud also helps receptionists store data about customer messages. They may even store recordings on the cloud, provided they have received consent.
What Are the Benefits of Using Virtual Receptionists that Operate Over the Cloud?
You should have a better understanding of the technical aspects of virtual receptionists using cloud technology. However, you might still not appreciate the benefits of their services. You can learn more below.
Never Miss Another Call
Try as you might, it can be impossible to answer every call yourself, or to have your team answer it. Sometimes you just can’t get to the phone.
And as we’ve discussed, that can be costly.
With a virtual receptionist, you don’t need to worry about these missed calls because they’ll handle them all for you.
So whether you’re with another client, travelling, or simply need a break in the day to recharge, you can do so without worrying about missing calls and losing money while you’re away.
Keep your business open for longer
If your customers can’t call you during regular office hours (for example, because they’re at work themselves), you have a few options.
Let the calls go to an answering machine and hope the customer leaves a message.
Extend your business hours and work longer.
Or, you could use a virtual receptionist to deal with out-of-hours calls.
This allows your business to stay open for longer and deal with more customers without you or your team needing to work all hours of the day.
Even if the customer’s issue can’t be resolved on that first call, they’ll be reassured that they’ve spoken to a real person and that their enquiry has been logged properly.
Professionalize your call answering
It’s not just enough to answer customer calls. Every call needs to be handled professionally to maintain customer service and protect your business’ reputation.
But when you or your team is stressed, running around, and busy, it can be easy to sound harried on the phone or give the impression the caller is an inconvenience you’re trying to get rid of quickly.
You don’t need to worry about this with a virtual receptionist.
Virtual receptionists can deal with all your calls professionally and efficiently and take as much time as it takes to get the customer’s details or provide them with information.
Answer more than one call at once
If you need professional call handling, you might be tempted to hire an office receptionist and have a single person answer the phone.
And there can still be a place for that.
But the problem is, as soon as your receptionist is on the phone, they can’t deal with another call when it comes in.
And calls tend not to come one at a time, so you could very quickly find yourself without your professional call handling.
Virtual receptionists work in teams to answer your calls and can cover each other when one is dealing with a call or has gone on a break.
This means you can deal with every call that comes into your business.
Save on hiring and employment costs
Again, you might be tempted to hire a full-time receptionist to sit behind a desk and deal with calls.
But hiring full-time staff members is expensive (especially when you consider that they can only handle one call at a time, as we’ve already mentioned).
An experienced receptionist can cost anything up to – and above – £30,000, and hiring a receptionist with specific industry experience can be even more expensive.
Not to mention all the additional costs of tax, insurance, holiday pay, sick pay, pension etc and the administration that comes with employment laws and regulations.
With a virtual receptionist service, you only need to pay for the time or volume of calls you need, so the price is considerably lower, and you get a more comprehensive phone answering service.
Have opportunity to scale
Another reason a virtual receptionist service can be a better choice than a full-time receptionist is the scalability of your call handling.
If your receptionist struggles with the number of calls they have to deal with, what are your options?
It’s likely you or your team will have to deal with the overflow of calls – which is what your receptionist is supposed to stop from happening.
Or you could hire another receptionist. But again, that’s expensive, and then there’s the time to train your new hire. Then if things quieten down later, you’ve got an extra employee with nothing to do.
A virtual receptionist service is much more scalable.
When you need more support, you can simply invest more hours and instantly have more resources at your disposal. When things calm down, scale back your investment.
Improve business processes with a virtual receptionist
Virtual receptionists are a perfect addition to modern offices.
With more employees working fully remote or hybrid and more businesses being based out of co-working spaces or having no physical office space, having a virtual receptionist ensures your employees and customers can remain connected.
Far from being just a tool for answering calls, a virtual receptionist service can be scaled to create an outsourced switchboard and diary management function, allowing you to get on with completing projects and helping customers without worrying about missing calls.
Discover the Benefits of Working with Virtual Receptionists Over the Cloud
Cloud technology has provided many benefits to businesses all over the world. One of the most overlooked benefits is that it allows virtual receptionists to take calls remotely. The advantages listed above should help you appreciate the reasons companies use their services.
