(This column originally appeared in Forbes)
Here are five things in tech that happened this week and how they affect your business. Did you miss them?
1 — These are the top 5 best password manager software companies in 2023
Tech Times has listed the five best password manager software-programs that store encrypted lists of passwords only verified users can access. The first is LastPass known for their sophisticated cloud technology. The most widely used on the list is Sticky Password. All five have something to offer with free 30-day trials. (Source: Tech Times)
Why this is important for your business:
Every business — and every individual — should be using a password manager. The biggest benefit is you can use complex passwords on important sites like banking and ecommerce platforms and then save and retrieve them from the password manager. Good managers will also evaluate the effectiveness of your passwords.
2 — One hundred drones are now being used across IKEA retail for stock inventory
The company confirmed that 100 drones are currently in operation to streamline inventory control and assist workers with certain tasks. The first drone was employed two years ago with 100 now operating in IKEA locations across Europe. (Source: INGKA)
Why this is important for your business:
“Introducing drones and other advanced tools — such as, for example, robots for picking up goods — is a genuine win-win for everybody,” Tolga Öncu- Head of Retail at Ingka Group (IKEA)-said about the technology that was developed in partnership with Verity -a company that specializes in warehouse drone systems. He’s right and I’m seeing more of my smaller and mid-sized clients using drones to check safety and help with cycle counts.
3 — These are the 10 most popular SaaS providers for small businesses
Business banking platform Novo has released its list of the 10 most used Software As A Service (SaaS) providers. Taken from a sample of 70,000 small business and self-employed customers, the end result indicates these 10 SaaS providers serve an essential need. (Source: Novo)
Why this is important for your business:
No surprises here. Top of the list is Intuit-the provider of QuickBooks. Website builder Wix is the tenth most popular. Adobe and Google’s GSuitewere numbers three and two respectively. I’m betting your business uses half of these.
4 — Businesses need HR Tech as tax compliance grows more complex
Craig Boelte of Paycom offered his insights on how companies can alleviate themselves of the stress and headache of tax compliance. (Source: Bloomberg Tax)
Why this is important for your business:
Boelte suggests implementing HR Tech is one of the wisest decisions businesses can make. He cites examples such as tax deadlines because HR tech lessens the demands on HR managers and handles the minutia with a high-level of accuracy. Payroll tax management is another process that should be automated. In cases where advanced software is being used Boelte said most executives he’s spoken to reported that not all of their staff uses the technology. Selecting the right system tailored to a company’s — and employees’ — needs is crucial.
5 — Study shows retailers are revving up for a technology boom
The latest upsurge of technology in the retail industry is being driven by “operational efficiency” as reported by a 2023 study done by Incisiv and Verizon. (Source: Supermarket News)
Why this is important for your business:
Are you investing in technology for your retail store? You should be. By 2025 most retailers expect 70 percent of tasks to be “partially or fully automated.” Use of AI to support operations is projected to increase 9 times in the next two years. Point of Sale (POS) systems will expand as well. Scott Lawrence, a Senior Vice President Global Solutions at Verizon Business, noted that this will be a consequential experiment of sorts to see if retailers can handle the increased traffic on their system. “The key is to build a network architecture that will give in-store applications access to the right bandwidth at the right time…” Lawrence said.
