Entrepreneurs have plenty of diverse skills, but not every business is a tech expert. To help you get started, here are seven simple tech terms every company needs to know.
1. Cloud Computing
Cloud Computing is a system that uses the internet to store data. In the past, businesses relied on a physical server or a computer. Most modern entrepreneurs now use cloud-based systems, for apps, storage, and servers. There are plenty of benefits to cloud computing. A few advantages include improved flexibility, enhanced collaboration, cost savings, and better security.
2. SaaS
Software as a service, or SaaS, is a method of software distribution. A cloud service provider hosts apps, and end users can access them using the internet. As part of this model, cloud providers can partner with independent software vendors. Large corporations like Microsoft often take on the role of the software vendor and the cloud service provider.
3 . Business Continuity Plan
If your business experiences a data disaster you may not be able to operate properly. You might experience a server problem, or a data breach. Either way, issues like these can lead to downtime, and loss of profits. Companies need a business continuity plan, which involves risk management, and helps your company to bounce back fast. A business continuity plan puts steps in place, to avoid operations coming to a halt.
4. Multi-Factor Authentication
Multi-Factor Authentication is a security system that requires internet users to identify themselves. The process uses more than one verification method. Businesses often use MFA to protect their network and computer systems. The first verification step is a password, and the second is usually an alphanumeric code. Users receive the code by text message. It’s possible to add a third layer of authentication, for instance, by checking a fingerprint. With several authentication methods, individuals and businesses can protect their online accounts.
5. BYOD
Bring Your Own Device, or BYOD, means that staff members connect to a business network using a personal device. That device could be a smartphone, tablet, or personal laptop. As remote work becomes the norm, many companies operate BYOD policies. As you can imagine, businesses need advanced security features to protect their networks.
6. Machine Learning
According to Emerji, ‘Machine Learning is the science of getting computers to learn and act like humans do, and improve their learning over time in autonomous fashion, by feeding them data and information.’ Machine learning can support business operations in various ways. A few examples include automated marketing or chatbot technology. With the help of Machine learning and artificial intelligence, businesses can streamline operational processes.
7. Managed Services
Managed Services are third-party organizations that provide IT support. Managed IT service providers cover different areas, including troubleshooting and maintenance, monitoring, security, recovery and backups, and more. There are many advantages to using managed IT services such as enhanced security, reduced costs, improved IT infrastructures, and 24/7 monitoring.
Outsourcing your IT is a great way to boost productivity, (but it’s still handy to learn some of the key tech terms)!