(This column originally appeared in Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — The launch of ‘QuickBooks Online Advanced’ aims to empower accountants and accelerate small business growth.
Intuit this week launched QuickBooks Online Advanced. New features include better analytics, automatic backups, custom roles based on an employee’s job and more automation to “set reminders for transactions with a due date, like invoices, payments, or deposits with the Workflows feature.” The new product will also allow users to “notify customers when they receive their payment, plus send bills and invoices through pre-set approval flows.” (Source: Yahoo Finance)
Why this is important for your business:
And yet, my clients still complain that QuickBooks Online still doesn’t provide the full capabilities offered by the company’s on-premise applications and are underwhelmed by its lack of inventory and order management features. I’m a fan of Intuit but the company needs to bring this online offering up to the level of some of its more advanced competitors if it really wants to be taken seriously as a platform for companies that have grown beyond the very small.
2 — Walmart is extending its run of digital expansion with a new Roblox pact.
Walmart announced its rollout of Walmart Land and Universe of Play. This digital expansion is aimed at leveraging and monetizing how many of Walmart’s customers are visiting the online platform and storefront Roblox. Universe of Play and Walmart Land will bring entertainment, beauty, and fashion offerings to consumers in an immersive way. (Source: Pymnts)
Why this is important for your business:
Like many other big brands, Walmart is entering the Metaverse. Why? Because there’s an entire generation of younger customers who will be spending as much time in the virtual world as they are in the real world. And buying products there too. Many of my clients — particularly small and midsized businesses — are not taking this virtual universe very seriously right now. But they will soon enough. Hopefully, not too late.
3 — Disperse, which brings AI-fueled data to construction projects has just raised $16 million.
U.K.-based construction tech company Disperse recently raised $16 million in funding. The AI-powered platform helps project managers track projects and collect data from construction sites. Disperse also streamlines all project details such as schedules, plans, and drawings to help maintain digital records and ensure accuracy and efficiency. (Source: Tech Crunch)
Why this is important for your business:
This is a very advanced project management application that leverages AI for better tracking, alerting, workflow, automation and reporting. Frankly, it’s probably more advanced than most small construction companies need. But if you want to be prepared for the future of project management platforms, this is a good application to review.
4 — This is why the big Windows 11 2022 update is worth downloading.
Microsoft recently gave Windows 11 a significant update which is now available for download on desktop or laptop. The update includes new gaming, accessibility, productivity, and security features such as a more efficient search to the Start menu, Focus and Do Not Disturb options, a built-in screen reader, and more. (Source: CNET)
Why this is important for your business:
Lots of fun stuff, but the real reason why this new update is worth the download is the same reason that every Windows update is worth the download: security. Each update contains the latest security protections against the latest malware. Of course, there’s no guarantee you won’t be breached. But every one of your employees needs to be running a fully updated Windows device if they’re connecting to your network. By doing this you’ll certainly minimize your risk of a potential malware attack. And what happens if you get attacked? See the next item.
5 — According to this survey, small businesses underestimate recovery time and cost of cyber attacks.
A new Nationwide Agency Forward survey revealed that 40 percent of small business owners believe a cyberattack costs less than $1,000 and that 60 percent expect it to take less than 90 days to recover from an attack. Data from Nationwide — however — confirms that attacks can cost businesses between $15,000-$25,000 and take an average of 279 days to recover. (Source: Insurance Journal)
Why this is important for your business:
That’s why your employees need to be upgrading their operating systems.
