Categories
Computers & Software Professional Services Technology U.K

Mitigating Cloud Security Risks During Migration

The multinational professional services company, PwC, released the annual Digital Trust Insights research for 2023. This research reveals the top cybersecurity trends for organisations in the UK this year. 

And, it will come as a surprise to no one that cloud security is everyone’s biggest concern.

In fact, cloud-based threat vectors are considered a bigger threat this year than compromised endpoints, web applications, or even software programs by 39% of senior executives in the UK.

The Cloud Security Threat From Digital Transformation

According to 33% of senior executives, attacks against cloud management interfaces are expected to go up this year.

The reason why cloud-based threats are such a concern is accelerated digital transformation. This is a belief held by 90% of the senior executives who took part in the survey. 

Several companies are migrating to the cloud, using digital currencies, and moving to e-commerce and digital service delivery as part of their digital transformation. Businesses are also converging IT and operational technologies.

According to the executives surveyed, this rapid adoption is “the biggest cybersecurity challenge their organisation has experienced since 2020.”

In spite of the high levels of concern, around two-thirds of the senior executives say they haven’t fully mitigated the cyber risks they face due to the digital transformation.

So, of course, cloud technology and migration are being looked at with concern.

If you’re one of the people who are worried about your organisation’s cybersecurity because of cloud migrations, it’s not all bleak and hopeless. There are ways of ensuring security when your business decides to move to the cloud.

Tips to Ensure Secure Cloud Migration

Create a Migration Plan

A rushed migration can be bad for so many reasons, and data security is one of the major ones. When you start the process, it’s best to migrate low-priority data first. That gives your team time to get used to the new system without risking important information.

That will also give you time to test the system for security. At this point, if you find security gaps, you can fix them without stressing about losing sensitive data.

Migrating in phases also gives you time to do things slowly, in a considered way. As you know, rushing through a process makes you more likely to make mistakes. And, threat actors are lying in wait, ready to exploit any errors in your systems, processes, or software.

Consolidate Your Threat Prevention Cloud Tools

When you were protecting your company from cyber threats on your company’s premises, it was relatively easy. You mainly needed a secured network. All employees went through that single point, making it easier to manage threats.

With cloud-based systems, ensuring cybersecurity becomes slightly more difficult. Each cloud service you use, each user who accesses these services, each employee and new data storage, and each application operating in the cloud is a potential “entry point”.

You need a threat prevention tool that covers a broader range of security issues. That way, you don’t have to manage multiple applications and still get better visibility across your cloud systems.

Thoroughly Understand Your Compliance Needs

This is especially necessary when you’re in a highly-regulated sector. However, even if you’re not, you need to know your industry’s requirements for data encryption, backup, and transfer.

This will save you not only from the wrath of regulatory bodies but also make it difficult for threat actors to fly in and steal valuable data.

Perform Regular Risk Management Exercises

The best way to ensure cybersecurity is through prevention rather than mitigation and remediation. Regular vulnerability scans and services like DigitalXRAID’s Cloud Penetration Services will help you keep on top of any exploitable chinks in your cloud service’s armour.

Also, review your API security stacks and consider investing in a virtual SOC service if you don’t have an in-house cybersecurity team.

Find a Trusted Cloud Security Advisor

Cloud security misconfigurations can be disastrous. To ensure proper security and to get the benefit of industry best practices, find yourself an expert to help you transition to the cloud safely and securely.

So, there you have it. Digital transformation is not all that scary when you have a solid plan in place. Do your due diligence and plan the process well to keep your business safe through cloud migration.

Categories
Business Finance Financial Market Technology U.S

NYSE Disaster Recovery Blunder Triggered Major Trading Glitch

The NYSE (New York Stock Exchange) is beleaguered by criticism after an unexpected outage and IT error caused drastic price fluctuations in blue-chip stocks and billions worth of trades to be called off.

The NYSE blamed the ‘technical’ glitch on a manual error with its disaster recovery (DR) system, according to The Register

Let’s Flesh out the Reasons Behind the “Mayhem”

The exchange’s secondary Chicago data centre is supposed to protect US stock markets in the event of an outage or when a natural disaster strikes the venue.

As part of regular maintenance activities, the DR system should be tested daily and shut down manually after the closing bell.

However, on Monday, January 23rd, after the market was closed, an NYSE staffer failed to turn off the disaster recovery system correctly.

The result: the backup system, which is meant to be turned on in the event of a disaster incident only, was left operating overnight. 

It means that the exchange’s trading acted as if Tuesday’s trades were being carried on with the prices of Monday’s trade. 

The consequence: at 9:30 am on Tuesday, as trading started, the NYSE software malfunctioned, and skipped the day’s opening auctions which set prices incorrectly and unfortunately, led to a debacle.

The NYSE, in a statement, said, “The root cause was determined to be a manual error involving the exchange’s disaster recovery configuration at system start of day.

What Was the Consequence?

The technical error triggered a string of events with catastrophic repercussions.

What NYSE addressed as a “system error” caused shares in over 250 firms to go haywire, with some firms encountering fluctuations in their stock prices by around 25%. 

As reported, a total of 84 stocks saw their valuations drastically plunge or surge until they had reached the limits set to thwart securities from trading at extreme prices.

According to a statement released on Wednesday morning, due to the system disruption, 81 stocks had short-sale restrictions (SSR) implemented “erroneously,” with Snap and Morgan Stanley being badly affected. 

While Morgan’s share price dropped by 13%, Walmart saw an increase of 12% in its share price due to the error.

Soon after NYSE halted the most egregious transactions, it stated: “Approximately 4,341 trades in 251 symbols should be busted (canceled).”

NYSE Fielding Claims

NYSE officials spent hours hunting down the reason behind the turmoil until it was confirmed that no such trading chaos would occur again.

“The issues around our market open on Tuesday are our collective responsibility, and we have moved swiftly and decisively to resolve them as a team,” explained a spokesperson from NYSE to Bloomberg. “A core value of ICE (Intercontinental Exchange, NYSE’s parent company) and the NYSE is our commitment to collaboration.”

NYSE is evaluating the financial losses stemming from this “wreck” and is fielding claims from the affected businesses as per exchange regulations.

Automated DR Systems Can Decrease System Failure Risks

Analysts unanimously agreed that automation could help avoid such system errors entirely.

Automation eliminates human error,” according to Dennis Hahn, an analyst at Omdia. “If this [DR system] required to be manually shutdown, this is ridiculous and asking for trouble.”

In short, when it comes to disaster planning for data centres, one of the key elements is deploying an automated DR framework

Future-focused DR solutions like Protera enable customisable and automated backup scheduling. Plus, it frees users from manually configuring each device while also allowing them to back up their business-critical data in multiple locations. 

The result: significantly minimised human intervention, ensuring business continuity.

With customisable RPO and RTO objectives, users can set their systems for backup—every day, every hour, or even every few minutes—based on their backup policies.

Wrapping Up

Unfortunately, the NYSE backup blunder is not the only high-profile operation disruption occurring in January due to manual errors. The recent massive system crash in NYSE raises concern among US retail investors. The occurrence indicates that NYSE should “come up with something better” and implement automation and best practices for disaster recovery management. 

Categories
Business Computers & Software Professional Services Technology U.K

Designing Digital Products in 2023: UX Trends in the Spotlight

Community by NASSCOM Insights recently released a guide on digital products, complete with projected trends in 2023. 

The article talks about the importance of user experience (UX) in digital product design and why creating an effective digital product design strategy is essential. Then, it lays out a design process.

Finally, it talks about digital product design trends for the year.

But, if you don’t know what digital products are, this report won’t make any sense to you. So…

What Is a Digital Product?

A digital product is an intangible item that is delivered and consumed electronically. An example of a digital product might be a music file or video, a PDF, or an ebook. It could also be an app, a software program, a template, or a plug-in.

If you have the right resources, you can create digital products on your computer. Of course, some products require more technical knowledge than others. But, yeah, they don’t need a workshop, where they are made piece by piece.

Since the product is digital, you don’t need physical inventory. And, delivery is quite literally as fast as the consumer’s download speed.

So, if you’re planning to start a business, selling digital products could be a good idea, especially if you’re looking to keep your overhead costs down. App development, for example, is a great way to get started if you have an innovative idea.

But, as I said earlier, you need to spend time on the UX of your product.

Why Is UX Important for Digital Products?

In case you were wondering why UX is so important for digital products, here are some reasons:

It Enhances Usability

Users tend to like digital products designed with UX in mind. That’s because UX enhances the… ummm…user’s experience. 

It takes into consideration how the consumer will interact with the product and removes any potential pain points. The result is a product that is a pleasure to use.

It Can Improve Engagement

A well-designed digital product can encourage users to engage and interact with it more and more. And, it can give them a push in the right direction—encouraging them to take the action you want them to take.

It Makes Your Spending More Effective

Constant improvement can help keep your product relevant and in demand. However, if you spend time—and money—at the beginning of the design process, you can ensure that your future improvements are less expensive. 

You can invest in more features instead of trying to get people to like what you’ve already created.

It Improves Conversion Rates and Retention

An important part of UX design is identifying what your customers need and want. By giving them a product designed for them, you can get them to convert quickly. More importantly, you will retain them.

It Helps Your Brand’s Reputation

So, you create products that are easy to use, efficiently designed, and meet customer requirements. That’s a good reputation to have. Keep doing that consistently and you will find people buying your products because they were built by you.

Now that you know why you need UX, here are some of the UX trends for digital product design in 2023:

UX Trends For Digital Product Design in 2023

According to the report, here are the top UX trends you need to keep in mind when designing your digital product.

UX Copywriting

Quick, snappy copy. Don’t bore users with long, wordy essays.

Inclusivity in Design

Design products so everyone can use them. Bear in mind cultural differences as well as physical disabilities.

AR/VR

It’s a lot more ubiquitous now, so use the power of augmented reality and virtual reality to make your digital product more interesting, exciting, and relevant.

3D Graphics

3D graphics give depth and detail to your product design. Make use of it—especially since modern technology can handle it without lagging or getting overloaded.

Innovative Landing Pages

Hook your audience with impressive landing pages. At the same time, remember that too much detail can be distracting. 

So, now that you know why you need UX in your digital product design, stop and plan your idea in a bit more detail. And, if you need professional help, you have companies like Luminos Software to help you.

Good luck!

Categories
Business Finance Financial Market Technology U.S

Fujitsu to Divest Entire $1.1B Air Conditioning Unit Stake; Bloomberg

Fujitsu Ltd., a leading Japanese global information and communication technology company, is reportedly divesting its stake in Fujitsu General Ltd.—the unit that manufactures cooling systems.

The declaration came during its quarterly financial announcement in October 2022. The company revealed that it was planning the sale of its stake in non-core affiliates—Fujitsu General, Shinko Electric Industries Co., and FDK.

Fujitsu owned around 50% and 59% stake in Shinko Electric and FDK respectively—as of the end of September 2022.

Not a Partial Divestment

Fujitsu shared plans to sell its entire 42% stake in Fujitsu General Ltd. as the Japanese IT coalition looks to speed up a business overhaul.

Fujitsu General Ltd. shares are worth an estimated ¥140B ($1.1B).

“We have set certain criteria for the sale and aim to sell 100% of the 42% stake,” stated the CEO Takahito Tokita in a recent interview. “We won’t do it halfway.”

Fujitsu Receives Substantial Bids

In line with its divestiture strategy, the company kicked off the auction process after it had found several long-sought customers, such as Bosch. The initial bids for the procurement were submitted by January 20, as decided. 

Fujitsu General received around ten bids from high-profile strategic investors and private equity firms. However, the company has not yet narrowed down the list of bidders, said ION Analytics

Why Is Fujitsu Divesting its Air Conditioning Unit Stack?

The CEO marked the divestiture as a part of the company’s effort to ensure more streamlined operations, reported Bloomberg, a leading financial news website. 

Even though the CEO refused to comment on the negotiations, he said the company was “happy to have interested parties.”

Fujitsu is the sixth-largest technology services provider in the world (based on yearly revenue). In its heyday, this Japanese giant manufactured almost everything—from smartphones and laptops to integrated chips. 

In order to focus more on IT and communication systems, the IT firm is now divesting non-core affiliates and has already sold off much of its consumer product lineup.

For the fiscal year ending March 31st, 2023, the company predicts its operating profit to reach a staggering ~$3.11B (¥400B)—a jump of 83%. 

However, analysts unanimously agreed that the profit will be ~$280B (¥359B). Fujitsu General expects its net sales to rise 37.3% to a total of ~$297.2B (¥390B). It predicts an operating profit of ¥18B for the fiscal year through March this year—an upturn of 113.2% year-on-year. 

In the report, the CEO underscored the COVID-19 outbreak and geopolitical pressures regarding Taiwan as the biggest factors making Fujitsu extremely vulnerable.

According to the report, policymakers worldwide are vying to hold sway over the semiconductor technology used for military purposes. 

According to RF Globalnet, the USA is pressuring Japan to help clip China’s chip industry. In this circumstance, when Fujitsu is hugely dependent on Taiwan’s semiconductors, Tokito said the divestment would help the company prepare for any emergency.

Navigating Carve-out Challenges to Success

Divestiture is a cross-functional process that takes place on a legal, financial, organisational, and technical level. Even though equity carve-out is a standard strategy of business management among consolidated and dynamic enterprises, the permanent split-off of the IT poses challenges to participants. 

Leveraging a high-end IT carve-out consulting service, such as US-based Fission Consulting, can streamline the transaction process and significantly shorten the separation timeline with minimal business disruption.

Wrapping Up

Being at the forefront of hyperconnected business transformation, Fujitsu combines the power of IoT with AI, and network solutions. The aim is to help future-focused companies cope with technological shifts. Regardless of the reasons behind the divestiture, Fujitsu hopes the divestment would help the company optimise business operations while also maintaining the supply chain.

Categories
Media & Communications Technology Telecom U.K U.S

How Will Artificial Intelligence Change the Way Businesses Optimise Their Websites?

A short while ago, there was a news story about how Google was panicking about ChatGPT, OpenAI’s “chatty” chatbot. 

ChatGPT is an AI-powered tool which has access to information on the internet—all the way up till 2021.

Ask a question, get the answer.

Of course, the answer might not be completely accurate or original. It does rely on potentially old information and only what’s available online, after all.

However, what worried Google is the fact that it gives an answer and not a list of pages. A complete, coherent answer. 

The Google “Code Red”

Google CEO, Sundar Pichai, declared a “code red” over the threat. And, the company’s founders, Larry Page and Sergey Brin, who had not been involved in the running of the company, were now attending meetings with executives.

The goal was to push out the company’s own AI capabilities to combat the threat of the chatbot.

So, on the 7th of February 2023, Google launched Bard, an AI-powered chatbot that would compete against ChatGPT.

What’s more, Bard has a slight edge over ChatGPT. It can draw information from the internet whilst ChatGPT currently only has the information it was “fed”.

End of story, right?

Nope.

The launch of Bard (and the ever-growing popularity of ChatGPT) leads to the question: Will AI kill SEO?

AI Chatbots and Digital Marketing

Digital marketing, currently, has been focused on search engine optimisation (SEO). This term encompasses all the activities a company undertakes to make its website and web pages rank high on search engines.

Whether by oneself (with the right technical knowledge) or with the help of companies like Geeky Tech, businesses try to make their online presence attractive to both Google and users.

Businesses need to appeal to search engines because they determine if—and where—their web page shows up when users search for a relevant query. 

However, chatbots that look up questions and distil an answer from various sources might change the way people search online.

The New Way of Searching 

Instead of typing out their search queries and then looking for the answer in the hundreds and thousands of pages that show up, users would be able to use chatbots to give them the answer right off the bat, in natural language.

Suddenly, Google SERPs—Search Engine Result Pages—would no longer be relevant. 

Why go through thousands of results when someone can use AI to get a complete answer, which takes a fraction of the time? 

Google’s competitor, Bing, is already in the process of integrating ChatGPT into its search page, complete with the chat feature. So, a person can have a conversation with the bot, complete with follow-up questions. 

With these AI-powered entities answering user queries like a person would, traditional SERPs might be on their way to becoming obsolete.

So, with no more SEO, what will digital marketers do?

No, they won’t lose their jobs. They’ll simply have to move from SEO to AEO.

What Is AEO?

AEO, or Answer Engine Optimisation, is actually a part of SEO which focuses on providing answers to search queries instead of just making the page optimised for search robots.

It’s not a new concept, either. 

AEO became a part of SEO jargon when mobile voice search started gaining traction. People would verbally ask the search engine on their phones a question. And, instead of giving a written answer, which one would need to read, the helpful Google lady would read out the answer.

Since voice search was growing rapidly, and was expected to be the primary way people would search in the near future, AEO became a hot topic.

At the same time, there was also position 0 on the SERPs—the much-coveted featured snippet. Ask a question and find the answer on the search page directly, right at the top.

Trying to “win” that spot required AEO.

Again, it is still a component of SEO, but AEO has a different focus. Instead of appealing to search robots, it aims to answer questions real people are asking. 

SEO is all about taking a keyword and optimising a page for it. AEO looks at the whats and whys of the question—the search intent. Then, it tries to answer with that intent in mind, succinctly and knowledgeably.

People-Friendly Content for AEO

So, how does this come back to chatbots and search engines?

If people start using search differently, then, in order to keep up, marketers would need to make sure they are answering people’s questions. It will no longer be enough to satisfy crawlers—they would need to be people-friendly as well.

In conclusion, AI-powered chatbots will change the landscape of search and search engine optimisation. 

Categories
Pharmaceuticals & Biotech Technology U.S

Cell Therapy Bioprocessing Market Projected to Reach $30M by 2028

The healthcare industry is heavily investing in developing safe and effective treatments using cell therapy technologies as an alternative to traditional treatments.

The result: The cell therapy bioprocessing market is ballooning at breakneck speed. 

The global cell therapy bioprocessing market size is predicted to hit a revenue of a staggering $30,052.61M by 2028—up from $ 11,192.50M in 2020. The market is expected to grow at a CAGR of 13.14% during the forecast period between 2020 and 2028, according to a report by Insight Partners published in medgadget

Cell therapy bioprocessing

Cell therapy bioprocessing is a subfield of bioprocess technology that blurs the lines between bioprocessing (biopharmaceutical manufacturing) and cell therapy. 

The goal is to develop robust and reproducible manufacturing processes for producing therapeutic cells by substituting, rebuilding, repairing, or regenerating damaged cells, tissues, and organs. 

Cell therapy bioprocessing holds great promise to revolutionize healthcare and treat chronic conditions—such as cancers, age-related blindness, macular degeneration, stroke, and more.

Driving Forces Behind the Cell Therapy Bioprocessing Market Growth

The growing need to efficiently treat chronic ailments has pushed research activities in cell and gene therapy bioprocessing which, in turn, is likely to propel the market’s growth over the coming years.

The increasing number of clinical trials conducted or underway is another leading factor contributing to the rapid growth of the cell therapy bioprocessing market.

Case in point: as of 2022, 1221 active clinical trials were conducted on cell and gene therapies, among which 342 were in phase 1/1b.

The report marks the advancement in genome editing as another driving force behind the cell therapy market growth. 

By allowing scientists to add, remove, or alter DNA in the genome at specific points, genome editing can provide effective treatment solutions for chronic ailments. 

Medical scientists hope that genome editing will act as a step-change in treating monogenic hereditary diseases—such as hemophilia, cystic fibrosis, muscular dystrophy, and Huntington’s disease. 

Interventions into the immune system can also help cure acquired diseases—e.g., AIDS or cancer. The potential of genome editing technologies, such as TALENs and Zinc-finger nuclease, has opened avenues in the modern therapeutic sector having the potential to accelerate market growth. 

Furthermore, the gradual invention of innovative technologies to support the development of avant-garde therapies has further aided market expansion. For example, CRISPR-Cas9 is one of the widely adopted genome editing technologies that yield higher accuracy. Being the cheapest yet highly efficient system to alter genetic traits in a cell, CRISPR-Cas9 has significantly fueled research activities. 

The Cell Therapy Bioprocessing Market Segmentation

According to the report, by technology, the market is segmented into a) lyophilization, b) bioreactor, c) electro-spinning, d) ultrasonic lysis, e) control-flow centrifugation, f) viral vector technology, g) cell immortalization technology, and h) genome editing technology. The bioreactor segment reigned in the cell therapy bioprocessing market, accounting for the largest revenue share in 2020. On the other hand, the genome editing technology segment is forecast to grow at the highest CAGR of 14.5% through the projection period.

By cell type, the market is segmented into a) immune cell, b) stem cell, c) hematopoietic stem cells, d) pluripotent stem cell, and e) human embryonic stem cell. The stem cell was the highest market-share segment in 2020 and is projected to record the highest CAGR of 14.0% during the forecast period.

In addition, by indication, the market is segmented into a) oncology, b) orthopedics, c) cardiovascular disease (CVD), c) wound healing, and more. Among the segments, oncology held the largest market share in 2020 and is foreseen to record the highest CAGR of 14.3% through the projection period.

The report highlights some of the key players in the market, such as Fresenius Kabi AG, Asahi Kasei Corporation, and Sartorius AG. Being at the forefront of adopting growth strategies, these companies strive to capitalize on the vast untapped potential of the cell therapy bioprocessing market.

How COVID-19 Impacted the Cell Therapy Bioprocessing Market Growth

The market growth of cell therapy bioprocessing was affected to a certain extent, with more focus put on curbing the onslaught of the COVID-19 pandemic. Research activities halted for a certain period as research institutions had to slow down their trial enrollment process. 

In addition, the global pandemic harmed the production and supply chain efforts in the biopharma industries. 

However, the market now continues to advance, with many leading businesses planning to make their therapies more accessible. 

Navigate Challenges to Success

Researchers are trying to reap the full therapeutic and commercial benefits of cell therapy bioprocessing technologies. For that, emphasis must be placed on overcoming the challenges regarding today’s existing capabilities to generate clinical-grade cells at commercially relevant scales.

However, the development process for bringing cell therapies to patients is highly intricate. The process involves multiple bio-production and bioprocessing steps that need to be executed optimally to confirm the required safety and effectiveness of the final product.

With that said, for cell therapy products to hit the expected success, taking a process-driven approach to bioprocessing operations is critical.

The solution: leveraging a high-end bioprocessing solution with predefined workflow templates for each step in the pipeline

Such a class-leading system like Sapio Sciences’s Bioprocessing solution includes extensive sample, material, and instrument management, charting capabilities, and native data analysis. The result: streamlined operations and seamless collaboration across teams that accelerate product to market. 

Wrapping Up

After decades of relentless efforts, gene and cell therapy bioprocessing is set to flourish incredibly in the coming future. A flurry of recent successes has led to the approval of multiple life-improving therapeutics—and many more are under development. 

Categories
Computers & Software Technology U.K U.S

Review Your Cybersecurity Stack to Stop API Breaches

Earlier this month (January 2023, if you’re reading this in the future), T-Mobile revealed that it had been hacked and had the information of 37,000,000 customers stolen. 

The company filed an 8-K form with the Securities and Exchange Commission (SEC), which is a document that companies must file if there is a development that shareholders should be aware of.

The form stated that the company had “…identified that a bad actor was obtaining data through a single Application Programming Interface (“API”) without authorization.”

Data breaches that exploit API security flaws are not new. Last year, a leading cybersecurity journal, SC Media, reported that API security incidents affected 95% of the surveyed organisations in 2021-22.

In a more recent article, the magazine discusses how re-evaluating the cybersecurity stack of the company might be essential for stopping API breaches.

If you aren’t sure what an API is, this article might be difficult to follow. So, to answer your question (and feel free to skip to the next section if you already know)…

What’s an API?

An API is a bit of software that helps two different applications “talk” to each other. APIs can be very useful in application and software development because they save you the time and effort of building a tool when something already exists. 

Simply use an API to get that tool to show up within your application and you’re done.

It’s like when you want to show your location on the map on your website. Why code your own map when you can use Google Maps and have it show up on your website using an API?

Why Are APIs Vulnerable to Attacks?

The problem is, with so many applications being built, the use of APIs has increased exponentially.

Since APIs are programs that transfer information between two entities, they are prime targets for those who want access to that information.

As a result, cyberattacks that exploit APIs are on the rise.

According to the SC Media article, the rate at which APIs are being developed makes them difficult to secure.

On top of that, most companies don’t even know how many APIs they have, let alone a complete list. So, they have no idea how many of their APIs can access sensitive information.

Finally, the biggest problem APIs are facing is attacks using bots. Malicious automation is used to find vulnerabilities in the APIs as well as to exploit these vulnerabilities to gain access.

That means bots can quickly—at a much, much faster rate than a human—get access to a company’s database and grab information that can then be used for nefarious purposes.

Now, don’t get me wrong. It’s not like developers aren’t doing anything to secure their APIs. API management best practices include a discussion about security. However, regular security tools, like WAFs and API gateways, can be inadequate for bot attacks.

Is Re-Evaluating Your Cybersecurity Stack the Answer?

In the article, SC Media cites a report by Forrester (Planning Guide 2023: Security and Risk) which says companies must evolve their defences to keep up with the evolving threats. 

That might mean reviewing your current cybersecurity stacks and removing tactics and solutions that don’t work. CISOs should also be focusing on API security and bot management in 2023, the article advises.

Another thing to keep in mind is that the bot defence should be “proactive and dynamic”. Companies should be aware of the potential vulnerabilities of their products and plan their defences accordingly, and not rely on a one-size-fits-all approach.

As the bots evolve and change their attack methods, your API security should be smart enough to block them from every direction. If it’s not, then it might be time to take a look at it with a critical eye.

Categories
Professional Services Technology U.S

A Case For Consolidating Insurance Systems and Data

Insurance has been in existence since 1750 BC. With such a history, it’s logical to assume that any technology used in the industry is a recent phenomenon. 

And, it’s probably been adapted and adopted piecemeal.

The problem is, when solutions are bolted on bit by bit, they don’t really work well together. In an article by Damco (a digital transformation and technology company), insurance companies are advised to consolidate their disparate systems.

The article starts by talking about how various systems that try to coordinate with each other can lead to friction in internal communication, optimisation of processes, and collaboration within the business.

More importantly, it can also negatively impact customer-facing metrics. 

A multitude of systems spread across multiple databases doesn’t really scream “synergy”. To create synergy (and we all love buzzwords!), insurers must consider insurance systems and data consolidation.

The article discusses the three important reasons to do so:

  • Harnessing the power of data to grow the business
  • Giving customers a seamless and consistent experience
  • Improving product offerings

Business Intelligence and Data Management

Information is power. When it’s your business’s information, you want to use it to accelerate your growth. For that, however, this data needs to be accessible and cohesive.

Siloed information gives you parts of the story. Then, you either need to patch it all together to get the complete picture or stockpile information in vast quantities without getting any value out of it.

For insurers, this information is especially important. According to the Financial Times, technology has failed to disrupt the insurance industry because people don’t want to think about insurance.

In such a scenario, any bit of information that could help you improve your figures is invaluable.

Suppose the marketing department has information that can help the sales team, or the sales team has client information that could help marketing design a better campaign. That information needs to be accessible for you to exploit it.

Segregated data also means the formats could be different or it is tagged inconsistently. So, even if all teams have access to it, it doesn’t have the same impact or meaning for everyone.

Part of data management is bringing it all together in a consistent way so all teams have equal access to it. That means everyone has the complete picture, resulting in better decision-making.

Customer Experience and Satisfaction

Marketing today is not limited to one channel or format; neither is communication. You may advertise your wares through paid ads, social media, knowledge-sharing blogs, and more. Your customer could find you through any one of these.

Then, they could contact you via email, phone call, or maybe a LiveChat feature on your website. Or, a combination of these.

Good customer service would mean that once the customer contacts you, they don’t have to introduce themselves in great detail in any subsequent interactions.

If they have to share their information over and over again, they are not going to be happy.

Similarly, if they’ve already bought a product, they don’t want to see ads for the same one. At the same, you don’t want to miss out on the chance to upsell to existing customers.

When you have a consolidated insurance and data management system, it’s easier to have all of this information accessible (and ready to be utilised efficiently and seamlessly).

Product Development and Innovation

In the process of insurance evolution, the one trend that has emerged is that people want customisable products. 

Customisation makes sense as well. People have different needs (and different risks). Something like insurance cannot be a “one size fits all” kind of deal.

If you could offer your customers a product that was designed for them, you’d see better satisfaction levels. And, they’d be more likely to buy from you. 

However, in order to do so, you need to have a well-rounded profile of your customers. That would enable your marketing team to plan a campaign designed for them, your sales team to pitch the product to them, and your underwriter to calculate their risks and premiums.

That’s how you’d be able to offer them products they just can’t refuse.

Of course, you’d need a well-planned strategy in order to get everything together, along with a software solution that works for you. For example, a Third Party Administrator product would help link different business processes under one “roof”.

The key is to design a roadmap that works for you and then select the technology that will help you get there.

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Technology U.K Website & Blog

Geeky Tech, an SEO Agency for Tech Companies, Recently Made a Case for Going Niche

Leading SEO agency for tech companies, Geeky Tech, has decided to work exclusively with tech companies. 

The business started out as a marketing agency for all. However, over the years, the decision to focus on a single industry has led to faster results for its customers.

By focusing on B2B technology clients, the agency has honed its craft and has acquired specialised industry knowledge that has translated to better outcomes for clients, the agency says.

Currently, its client list includes IT security experts, SaaS providers, MedTech companies, and software developers, among others. 

The Geeky Tech team is composed of self-professed “Geeks” who “speak tech”, the business elaborates. That has been the leading reason why the agency decided to focus on the software and technology sector.

This knowledge of all things tech is also useful when it comes to client content as well as communication, the agency claims. The team is able to speak to clients in their “language”, which also makes it easier and quicker to understand exactly what the client offers. 

Simultaneously, because clients are comfortable with technology, the agency also finds it easier to explain the technical side of SEO to them. This, according to the agency, leads to better collaboration, where Geeky Tech becomes a partner rather than a service provider.

The business is quite well-versed in the SEO requirements for B2B businesses. 

A B2B business is very different from a B2C company, the agency explains. B2C customers interact with websites differently and have a relatively shorter buying cycle. A marketing agency that works with B2B clients should be aware of this difference as this affects their marketing strategy. 

Similarly, software and technology companies within the B2B group have specialised needs as well. A strategy that works well for another sector might not work well for them, the agency states.

Since SEO is a part of any B2B digital marketing strategy, that aspect also needs to be customised to the client’s needs.

SEO, says the agency, requires competing with millions of pages for ranking. B2B clients not only have to compete against existing businesses but also any that are yet to be created. 

As a result, simply getting to the first page of Google is not enough, explains the agency. The SEO strategy needs to evolve and keep up with the current best practices.

Focusing on the B2B software and technology niche allows Geeky Tech to have a better understanding of how to plan an SEO strategy for B2B technology clients, keeping them ranking well.

Geeky Tech is a digital marketing agency that helps B2B technology companies get seen by their customers. The agency offers organic SEO and paid advertising services to clients. For more information on the business, team, and services offered, please visit https://www.geekytech.co.uk/

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Computers & Software Technology U.K U.S

Luminos Software to Offer App Development Services to Start-Up Companies

Leading app development company, Luminos Software, now offers app development to start-ups. 

The business is known for building digital products on fully flexible terms for its clients. Now, it offers a complete lifecycle app development service to visionaries who have a new idea and want to take it to market.

The services include helping clients develop their concept, designing the user journey and experience, building a Minimum Viable Product (MVP), and scaling up with an off-shore development team, the business claims.

Luminos Software explains that it only hires experienced teams and talent. That is the reason why it can offer clients any tech stack they require. As such, the company offers expertise in Ruby on Rails, Python, Django, Node.js, React, React Native, Ember, and Flutter.

The company also promises unlimited scalability, which allows clients to rest assured that as their user base grows, their app will be able to handle the load.

Scalability can be very important, the business explains, as start-ups should ideally launch an MVP before they bring out the full-scale product.

That, the business claims, is its main focus for start-up clients.

An MVP is an app that has the minimum feature set required to make it viable, the company explains. Since it doesn’t have non-essential features, it’s quick and affordable to build, which allows enterprises to quickly get their apps out onto the market.

Since the MVP encapsulates the business’ core idea, it helps them identify any issues with their product and get feedback from real users. Luminos points out that it also allows them to determine if the idea is viable or not.

In short, an MVP can help clients manage their funding and budget better. By releasing a stripped-down version of their product, a company can release a low-cost version, which can be used both for marketing the product to both users and potential investors.

The funding from this version can then be used to fund further iterations of the product. In each iteration, more features can be added based on the product roadmap and the feedback received from users.

Luminos also emphasises that since an MVP is a minimalist product, clients often need help in identifying the essential feature set they would need in the first draft. They would also need to prioritise the remaining features and decide when to add them.

The Product Consulting service is designed to help in such situations, the company claims. Using its expertise and experience, Luminos provides clients with a roadmap that will maximise their investment and help them get the most out of their idea.

Luminos Software allows businesses to develop smart solutions. The company offers complete lifecycle app development, starting from developing the concept to scaling up. To learn more about what the business offers, please visit https://www.luminos.software/