What are the chances of your startup business making it in the long-run? Financial experts agree, and the consensus is not good. In fact, 80% of new businesses fail within their first 18 months — and some don’t even last that long. There is some good news, however. Investing in three key technologies can substantially increase your chances of success. Here are three technologies you can count on:
Cost Savings Cloud Computing Technologies
New businesses owners can easily save a considerable amount of money by choosing not to pay for — or host — their own servers. “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 services are a relatively simple — and inexpensive — means of outsourcing digital data storage. The systems are also efficient and convenient, allowing employees to access company systems’ on-the-go should they need to travel for work.
Product Lifecycle Management Software
Small businesses owners need to be especially careful with finances. Only pay for what you need by teaming up with a reliable PLM consultant firm and/or taking advantage of product lifecycle management software. PLM tools evaluate the value of products, goods, and services during all stages — from introduction and beyond. If something is no longer profitable, a PLM consultant firm will help businesses see that — and take adequate measures to improve or adjust products or services to earn more money.
Security and Backup Software
Finally, the very last place that startup businesses is security. Digital and internet security is absolutely essential for your company’s image and continued success. Encrypt data whenever possible. Back up information, so you will be prepared if a system should fail. Reinforce strong security and backup program with adequate employee training. Employees should be able to recognize email and phishing scams; the increases awareness will help protect your systems’ against viruses and malware.
Invest in key technologies for your startup business — before it’s too late. Keep your new business going strong with inexpensive cloud computing services, PLM tools, and reliable security software.