While consumer internet of things (IoT) devices such as smart thermostats and fitness trackers have garnered much of the media’s attention, the internet of things has been quietly optimizing business operations around the world. In fact, according to a recent GSMA study, the number of internet of things endpoints used for business operations will surpass the consumer market by 2025.
Business IoT has shown promising results: A recent Gartner survey found that 80 percent of companies that have implemented IoT technology feel that their return on investment has been better than expected (report available to clients).
2018 was a tough year for small-business owners when it came to understanding the implications of tax reforms introduced by the Tax Cuts and Jobs Acts (TJCA).
Not only were small-business owners unsure about the benefits of the new tax rules, they also had to reassess their tax obligations to find applicable tax breaks after the tax brackets changed.
As we approach the 2019 tax season, understanding tax regulations is still a key challenge for small-business owners and certified public accountants (CPAs) at small firms because of all the changes.
Imagine manually calculating the total number of hours your team spends on a project only to send an inaccurate count to your client.
If it’s too low, you lose money. If it’s too high, you’ll be asked to provide details/explain why. And your project manager could be in big trouble.
Such situations harm your small business’s client relationships and trust. You could even end up losing a client!
Any small business that cares about its reputation should work hard to avoid such risks. However, 62 percent of small businesses with hourly employees still track time using paper timesheets or spreadsheets, which have a high risk of manual errors.
If you want to stay ahead of the competition and avoid costly business mistakes, you need project management software with project time tracking to streamline your workflow and accurately record project hours. Inaccuracies in time logs will affect project delivery estimates, costing you money, reputational damage, and your client’s trust.
You’ve heard that AI is transforming businesses, providing millions of dollars in growth opportunities while streamlining processes and automating tasks. Jackpot! But you can’t win big if you don’t know how to play. You won’t see any benefits from AI if you don’t know how to use it.
According to research from Gartner (available to clients), small businesses face the challenge of identifying the right AI use cases. Marketing, sales, and customer service are all seeing the benefit of technologies that leverage artificial intelligence to better connect with customers. But who gets first dibs? How do you choose which department should adopt AI before the others?
Maybe you don’t have to.
Gini was excited to start her new role as sales executive at a small yet growing IT startup. She was thrilled when one of her sales leads responded positively and accepted her invite for a face-to-face meeting.
She posted on her social media page:
“So glad to get a lead moving up the pipeline. Hope to convert Fraser & Co in Monday’s meeting!”
Do you think Gini closed the deal?
Nope. In fact, she lost her job.
Gini had shared confidential client and sales information on a public domain. Friends and competitors browsing her posts pounced on the lead and closed the deal for themselves before she could. The IT firm fired Gini for violating its data privacy rules and ruining a good sales opportunity.