Technology can be really expensive and as the Internet of Things takes over, keeping up with the larger players in your space can become increasingly difficult without comparable resources. Ten big global challenges technology could solve. Being able to predict customer trends, market trends etc. The salary expectations continue to rise and the demand means there are very few available. Another of the great small business challenges is determining how and when to integrate technology and which facets in which to do so. Will new solutions work with other legacy systems you have in place? But first, a question. It has also enabled malicious actors. We hear far too often about data breaches, viruses/malware, and crippling cyber attacks. When it comes to managing technology needs, there are a number of challenges facing business owners today (Ray Ramon, 2007). Using a password manager or rolling out multi-factor authentication across the business will add additional fail-safes for accessing data and add an instant layer of protection against cyber attacks. You can find more information on the discovery audit here. The big challenge facing CIOs: Address this skills gap while staying current with the ever-changing tech trends. Technology plays such a big part in a business that its important to be aware of these challenges and now how to deal with them in 2020. But you are not powerless, and you can overcome them. Technology can help businesses to remain innovative, competitive, and match the current challenges that many organisations are struggling to overcome. Technological challenges used to be a concern of technology companies. Challenge #2: Integrating applications. Your chief concern needs to be protecting your data because a data breach can kill a business. The book industry never saw Amazon coming, and many traditional bookstores went out of business as a result. Fetching the Best Small Business News and Information. The challenges includes lack of education about technology options; an incapability to prioritize which technologies are most important and a given time; how to go about integrating technology into a business and how to protect it (Ramon Ray, 2007). Digital integration covers everything from the use of social media to the improvement of the customer experience through technology. Guarding against cyberattacks means paying for extra training, personnel, and, in most cases, hardware and software upgrades. Sometimes newer technologies do not integrate well with older systems or legacy applications. Top 10 technology challenges businesses face New IT audit study analyzes gaps in companies' IT audit function and risk assessments rnrn Although companies continue to increase their investments in and dependency on IT resources, many arenât doing enough to protect themselves, according to a new survey from global consulting firm Protiviti . Technology plays such a big part in a business that its important to be aware of these challenges and now how to deal with them in 2020. New technologies often bring major challenges because of additional costs and new ways of operating. Get smart with the Thesis WordPress Theme from DIYthemes. IoT has already turned into a serious security concern that has drawn the attention of prominent tech firms and government agencies across the world. But with every step, there are obstacles. 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