Business Technology Insights

Keeping up with the latest IT trends and developments can be incredibly difficult, particularly for small and medium-sized businesses that don’t have the resources to truly focus on their IT strategy.

The success of your business is inextricably linked to your technology, whether it's your customer-facing tools, internal software, or your office technology. If you want your business to be successful and to continue achieving yearly growth, you need to make sure the technology that you use is up to the challenge.

In a recent blog, Cybersecurity: How to Maintain Cyber Insurance Coverage in Canada, we mentioned how an increasing number of Canadian cyber insurance companies are asking companies whether they are performing phish testing as part of their cybersecurity strategies.

Digital transformation is often the innovator that underpins success. Technology drives higher profit margins, internal efficiencies, improved customer service, as well as better products and services. All of these give small and medium-sized businesses a competitive edge.

Business phone technology has changed dramatically over the past five years. Technology improvements, software updates, faster internet speeds and more cost-effective internet connections have driven new innovations in today’s phone systems.

Toronto Police, in a recent press release, are warning businesses in the city about the “alarming rate” in which email fraud is increasing. 

In the announcement, the Toronto Police made investment firms and other commercial businesses aware of the increasing rate in which cyber criminals are using a hacking technique known as ‘email compromise fraud’ to target businesses.

Cyber attacks are increasing in Canada, with the average cost of cybercrime costing Canadian organizations a whopping $6.75 million per incident in 2021. 

The increase in the severity and sophistication of cyber attacks is making it necessary for businesses across Canada to both focus and invest in their cybersecurity strategies. Not just to protect their business from potential threats, but also to maintain their cyber insurance coverage.

The COVID-19 pandemic has had a huge impact on many aspects of our lives. As a result, the business world has had to make adjustments. New challenges such as the workforce shortage, supply chain disruptions and the need to build a remote workforce have all forced organizations to dramatically change their operations over the past two years.

IT infrastructure and IT strategy play an important role in the success of any organization. The issue is, not all organizations have access to the resources, experts and assets required to truly gain efficiencies, reduce cost and improve return on investment. 

In fact, in most cases, it’s only large enterprises and big businesses that truly have the resources to build a first class in-house IT team.

Organizations are increasingly looking to outsource key areas of their business to specialized experts. One of the most common areas for companies to outsource is their IT strategy.