What are the odds of your startup business rising above the competition? Experts admit that your odds are not very good. In fact, according to Forbes, 80% of new businesses will not make it through their first 18 months — and some won’t even last that long. There is a slight silver lining, however. Some basic technologies can significantly increase your operations and profits — or, in other words, certain programs can drastically improve the likelihood of your company’s ongoing success. Here are three technologies well-worth the investment:
Product Lifecycle Management Systems
One sure-fire way to prematurely part ways with your business is to pay for products and services that are no longer profitable. Expenses are extremely tight for new businesses — and staying on top of them is crucial. Save your business by investing in product lifecycle management software and/or PLM implementation methodology research. PLM tools will keep you from spending needlessly by tracking products’ short-lived or lasting value every step of the way.
Efficient Cloud Computing
Hosting a server is expensive. “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. Choose the smart — and much more efficient — option. Cloud computing gives you an incredible amount of digital storage for a relatively low cost, and it enables employees to access company systems from remote locations.
Security Software You Can Trust
With an increasing reliance on digital systems and the internet, you need to be especially careful about backing up and securing company data. Encrypt data whenever possible. Keep software and operating systems up-to-date to avoid viruses and similar safety concerns. Supplement this technology with thorough internet safety training. Make sure employees know how to recognize phishing scams and malware before it becomes a problem, Fox News recommends.
With the right technologies, you can beat the odds and manage a successful startup business. Invest in money-saving cloud computing systems, PLM implementation methodology software, and critical safety and backup systems. Continue.