Artificial intelligence (AI) has made great inroads into certain sectors of the U.S. economy. However, it hasn’t reached many small to midsize businesses (SMBs) in a major way … yet. In 2021, AI analysis firm Unsupervised published a survey of 520 SMB owners that found 48% of them still found AI too cost prohibitive. Forty […]
Category: Software
Nonprofit Observer Spring Newsletter
Here’s a brief glance at what you’ll find in the Spring issue… 4 tips for rebuilding your operating reserves The COVID-19 pandemic has driven home many lessons for nonprofits, perhaps none so much as the importance of operating reserves. This article provides some steps nonprofits with dramatically depleted — or nonexistent — reserves can take […]
Should You Invest In Custom Software?
Contractors are regularly urged to buy the latest and greatest high-tech solutions, but no software tool is perfect. Off-the-shelf products don’t always provide the specific functionality needed or “play well” with other systems, forcing employees to engage in redundant and potentially error-ridden practices. All this hassle might lead some contractors to consider engaging an outside […]
Prudent Technology Upgrades Call For Some Soul Searching
By now, most business owners view technology upgrades as inevitable. Whether hardware or software, the tech your company relies on to operate will need to change slightly or even drastically for you to stay competitive. Strange as it may sound, technology upgrades demand a bit of soul searching. That is, before spending the money, you […]
3 Specialized IT Leadership Positions For Growing Businesses
For many businesses, technology has changed from something they use to something they do. When a company reaches a point where IT plays a central role in operations and productivity, ownership might want to create one or more leadership positions to specifically oversee tech-related matters and strategy. Often, this means a Chief Information Officer will […]
Protect Your Business With A Cybersecurity Assessment
Years ago, it may have seemed like only government agencies with top-secret intel or wealthy international banks had to worry about hackers. Nowadays, even the smallest small business could see its reputation ruined by a data breach, while larger companies could have their sensitive data taken hostage in a ransomware attack that costs millions to […]
Is Your Business Tracking Website Metrics?
In today’s data-driven world, business owners are constantly urged to track everything. And for good reason — having accurate, timely information displayed in an easy-to-understand format can allow you to spot trends, avoid risk and take advantage of opportunities. This includes your company’s website. Although social media drives so much of the conversation now when […]
M&A Transactions: Be Careful When Reporting To The IRS
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in M&A history, with the United States accounting for $2.14 trillion worth of transactions already this year. […]
Is It Time To Upgrade Your Accounting System?
Timely financial data is key to making informed business decisions. Unfortunately, it’s common for managers to struggle with their companies’ accounting systems to get the information they need, when they need it. Often, it takes multiple, confusing steps to enter and extract data specific to customers and/or projects. Businesses and accounting software solutions evolve over […]
Even Nonprofits Can Benefit From AI Technology
You might think that artificial intelligence (AI) is just about using computers to perform complex tasks that otherwise would require human intelligence. That’s part of AI. But several technologies fall under the AI umbrella, including machine learning, natural language processing (NLP) and robotic process automation. Here’s how tools such as these can help nonprofits cut […]