Last week one of my blogs highlighted the growth opportunities to businesses of adopting new technology post-pandemic.
However, businesses, like consumers, can also be vulnerable if you do not take steps to understand and control the adoption and use of software and technology in your company.
Already, reports have emerged of new scams specifically related to Coronavirus. They have resulted in consumers being promised delivery of products for which they have paid but which subsequently discover do not to exist.
Then, there have been the scams to remote workers related to fake contacts from alleged payroll departments and internet service providers asking for personal information, according to TSB Bank.
But in a business context, while digital technology has been embraced to make it easy to continue to work during the pandemic lockdown, in the future how and what technology is used needs to be carefully considered and integrated with business processes going forward.
The temptation may be to “start to build resilience in their businesses by complementing product-focused models with scalable and stable digital alternatives” such the remote hosing of data and the use of third party software tools and AI as explored in an article in information age on potential business technology opportunities.
The article suggested that there will be an increase in B2B initiatives to adopt “smart and quick ways to slash costs and monetise existing assets”.
But the essence of business is competition and this suggests increased opportunities for industrial espionage and hackers unless you take considerable care to protect your business.
Those unfamiliar with the technology are likely to be vulnerable through their lack of knowledge or understanding. Tech is a highly specialised area where few directors are knowledgeable about its vulnerabilities and drawbacks.
Companies will need such specialists and ideally someone in-house to be sure their systems are robust and protected from such potential threats.
You should carry out due diligence on your digital service providers and protect yourself with robust legal contracts although for many online providers this may be impossible such that small businesses in some instances might be advised to avoid certain providers.
Using AI, “smart” cloud storage and other digital technologies to improve efficiency and cut cost has many benefits but only if such systems have back-ups and tight security controls as protection.
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