looking for a data center solution

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Read More:- Data Analyst Salary: Paying Industries

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Read More:- The Do’s and Don’ts of Remote Work

The decision to keep your servers in-house or move them to a data center is not something you take lightly. For many enterprises, issues with cost, time, and space of system operations crop up that force the issue of deciding where they should be housed. When it comes down to it though, there are several reasons why moving your server infrastructure away from home can result in huge benefits for both you and your company’s bottom line. We at Data Centers Unlimited want to partner with you by offering our expertise so that we can provide all the information necessary for an educated decision on whether to host your servers in-house or outsource them like so many other companies have already done before you.

The Do’s and Don’ts of Remote Work

As the COVID-19 pandemic continues, the world has seen a spike in the number of people working from home. The outbreahas forced companies to work remote sending a tsunami of people home to work – many for the first time in their careers. 

remote

That’s why we’ve put together a few tips for making this transition less painful and more seamless.

Read More:- 4 Security Benefits of Using the Cloud

DOs

  • SETUP your team for remote work
    Many offices haven’t gone remote as of yet. In preparation, discuss with your team everything they will need to work remote starting with individual departments. Do they have access to the tools or applications they use for their daily tasks? Is there a way for them to access the network remotely? Has your team thought about security and how staff will be handling their devices? The best way to ensure your team stays productive and efficient is by making sure they have the tools on hand to do their jobHere you can find another article highlighting suggested tools for effective remote work and important considerations.
  • Keep your team on track and CONNECTED
    How will your team be communicating while remote? Are there tools in place for them to report updates and projects? This may mean utilizing project management software or collaboration platform software such as Cisco’s Webex, Jitsi, Hyland OnBoard or Microsoft’s SharePoint. You can even setup virtual weekly meetings to go over tasks and goals to stay aligned and connected. Worried about a decline in productivity? Keep chats open and set milestones and regular action items to make a new norm since these changes may last several weeks to months depending on the country.
  • EXPERIMENT with what works
    Not sure what works yet? No worries – just experiment! There will be growing pains, but find the solutions, technologies, routine and tactics that work for you to ensure the most successful output. Work with your team to find out what facilitates the best collaboration and efficiency. Experiment with ways to stay focus, change up your work space to find a comfortable environment (both mentally and ergonomically) and establish a routine and working hours that work best for you. In response to the spike in remote work, many companies have begun offering their technologies at huge discounts and even free trials, explore the options online to find the solution for you.

  • Get ORGANIZED
    Make sure your home office is organized. A clean, organized space often allows for clearer thinking and less distractions. Find a space in your home that is your ‘office’Refrain from working from ‘anywhere’, try to keep a routine around where you work and your day. Yes, that means you should still maintain your normal hygiene routines and leave your bed. Get up, get dressed, carry out your morning routine in preparation for work. Video conferencing means you should have a quiet, well-lit space and you should look “video-ready.” Remember to create a routine that prepares your mind AND body for working. Of course, you can adapt this routine to what works, but get comfortable with what works, this may not end very soon.

Read More:- Data Analyst Salary: Paying Industries

DON’Ts

  • Don’t forget to regularly TAKE BREAKS
    We all know we work best when we routinely take a time-out and re-group our focus. This is no different when working from home. You can take this time to get little things done around the house or reach out to friends or family. Working from home can be lonely for some and a huge adjustment for families, you can take this time to facilitate healthy social distancing interactions.

  • Don’t LIMIT yourself to the 9am  5pm
    This of course only works if your employer is flexible with your working hours and if your job permits. The amazing thing about working from home is it allows you to work when you’re most productive not when your office is open. If you’re most productive in the evenings, work then, not a morning bird? No problem. Leverage your productive hours to get things done. The caveat is, you must ensure this doesn’t impact your communication with your team or your ability to collaborate with them. This may mean communicating your working hours to them so they’re aware or making yourself available for meetings in your off hours.

  • Don’t forget to think about SECURITY– Working from home can bring about lots of security risks. Think about which networks you link into- are they private or public networks? Do you have access to a work VPN? Where are you saving your work files? On your local drive on your laptop, personal dropbox or syncing with your companies cloud-based drive? These all have serious implications for keeping your files secure and upholding company policy. Make sure you have a strong understanding of your company’s policies surrounding data storage and endpoint security. If you’re unsure- ask your employer. They should be able to share their recommendations with you.

Data Analyst Salary: Paying Industries

Big data analysts and artificial intelligence have been major buzzwords lately. Especially with COVID-19 ravaging the world, governments and organisations across the globe have been striving to capitalise on and gain critical insights from data. Not only that, studies also show that the more data analysis enterprises employ, the more they stand to gain.

Data Analyst

In this blog, we look closely at jobs in the top industries, the average data analyst salary in each industry, and the future of the field in India.

Top Industries That Pay Lucrative Data Analyst Salary

With an impressive array of skills like Tableau, data modelling, Python, R, and SQL coupled with the right soft skills, you could be well on track to get a high-paying data analytics job. Here are some of the best-paying industries for data analysts.

1. Finance

The Banking, Financial Services and Insurance (BFSI) sector is arguably one of the most data-dependent industries. Not only do these organisations need data to promise better and faster customer service, they also need protection from fraud and risk. Just in 2019-20, frauds in banking went up by 159%. Plus, with the growing realisation that India’s BFSI sector could only be more profitable the more they invest in data professionals, the outlook for data analytics jobs in financial services looks incredibly promising,

According to LinkedIn, finance is the highest paying industry as well as the one most actively hiring data analysts.

Data analysts in this sector get paid in the range of ₹2,50,000 – ₹14,00,000, with an attractive median salary of ₹6,50,000 per year.

Related:- 4 Security Benefits of Using the Cloud

2. Data Analyst Salary in Retail

We all have experience of receiving recommendations from retailers that pertain to our specific interests and purchase history. Interestingly enough, research from Gartner suggests that, on a daily basis, companies collect so much data from their customers that data privacy becomes a concern. What’s more, for the amount of data customers provide, there isn’t nearly enough personalisation or advantage that they get in return. Therefore, it’s not surprising that retail has been on the fast track in AI adoption to make optimum use of all the data going unleveraged and in order to gauge customer behaviour.

Second only to finance, retail is another top industry where data analytics jobs are paid highly, with a range of ₹3,00,000 – ₹12,00,000 and a median salary of ₹6,00,000 per year.

3. Hardware and Networking

Hardware and data go hand in hand: Hardware impacts the infrastructure of data centres and more, while data guides efficiency and automation in hardware and networking. And several companies such as Cisco, Dell, and Bosch have been stepping up their investment in India, owing to the emerging advancements in 5G and other technologies.

Data analysts in the hardware and networking sector are paid anywhere from ₹2,49,000 – ₹11,00,000, with an average salary of ₹4,00,000 per year.

4. Data Analytics Salary in Manufacturing

Automation and modernisation of factories has long remained a key goal for the manufacturing industry. Analytics is an important player in improving productivity, cost efficiency, predictive maintenance, warehouse management, etc. In fact, in the next 1-2 years, data and analytics are a top investment priority for the industry. This only shows the urgent demand for data analysts to help with the evolution of manufacturing.

Manufacturing analytics professionals are paid in the range of ₹2,00,000 – ₹11,00,000, with a median salary of ₹4,30,000 per year.

Related:- How to trade in online games safely

5. Utilities, energy and mining

The utilities, energy, and mining sector is poised to experience a big data boom in the upcoming years. Here’s why:

  • The power and utilities industry in India has turned to data analytics to match the evolving expectations of electricity consumers.
  • In 2020-2025, the big data analytics market in the energy sector is expected to grow by 10.22%. And Asia-Pacific is the fastest growing market, with India being a leader.
  • The mining industry is not far behind: In recent times, advanced analytics in the mining industry has helped with ore extraction, processing, and transportation.

It’s no wonder, then, that this sector is ready to employ more data analysts in the coming years.

The average salary for data analysts in utilities, energy, and mining is ₹3,35,000 per year, with the range being ₹2,20,000 – ₹9,65,000.

6. Software and IT Services

The surge of data analytics is steadily revolutionising software development. Plus, the global Analytics as a Service (AaaS) market will reach $126.48 billion by 2026. Data analysts in this sector will continue to grow and focus on identifying customer-centric metrics, monitoring business performance, track brand perception, eliminate security issues, and simplify business processes.

Software and IT services data analysts are paid in the range of ₹1,80,000 – ₹9,00,000, with a median salary of ₹4,00,000 per year.

7. Data Analyst Salary in Entertainment

The data buzz has not left the Indian entertainment industry untouched. Here’s an exciting example: From using predictive analytics to forecast box office collection to using social media data to precisely target films to the right audience, Bollywood has also been at the forefront of a data-driven adventure.

4 Security Benefits of Using the Cloud

Demands placed on IT departments are skyrocketing globally. The COVID-19 outbreak has forced teams to go remote, increasing IT demands at a brisk pace. Before the crisis, executives have strategically been moving their teams to the cloud. This crisis is reinforcing the need to move more teams to the cloud, IT teams are strapped for resources, struggling to update their in-house infrastructure and rushing to update their technologies to enable safe and secure remote work.

security

While the benefits of cloud computing have been preached by industry experts for years now, many stakeholders are still uncertain whether they outweigh the potential risks associated with moving sensitive information to servers owned by someone else. With the current demands on our IT infrastructure and staff, now may be the best time to move to the cloud.

Security Benefits of Cloud Computing

Back when the word ‘cloud’ was still considered to be a buzzword, there was a tangible paranoia about storing data off site. However, these early fears haven’t stopped the cloud market from growing, the average business runs 38% of their workloads in the public cloud and 41% in private cloud. Every year these numbers continue to increase with more and more organizations migrating to the cloud.

Today, security experts no longer see the cloud as a threat. Instead, they try to highlight its security benefits. “The value of moving to the cloud outweighs the risk of paranoia,” said Chris Weber, co-founder of Seattle-based Casaba Security. The COVID-19 crisis has changed the type of exploits hackers are using. Unfortunately, hackers know organizations aren’t upholding best practice security measures, especially in the scramble to stay connected and keep businesses afloat, allowing them to exploit these basic loopholes. Migrating to the cloud can help you enforce your security stance.

Related:- How to trade in online games safely

Patches and Updates

Unpatched software is among the leading causes of malware infections worldwide. Critical exploits are often exploited by malicious attackers only a few hours after their public release. For small and midsize businesses, it’s often very difficult to keep software updated without causing major operational disruptions. Cloud providers regularly and routinely install patches for their clients, who can keep using the cloud services without any downtime. This reduces your likelihood of becoming victim to an attack and saves you time in the process. When your workers are remote, cloud updates allow you to ensure all employees are up to date and remain efficient.

Protection Against DDoS

In recent years during a single quarter, resources in 80 countries were targeted by DDoS attacks, with the longest DDoS attack lasting for 292 hours. In one month alone, there were 1,915 recorded attacks, according to Kaspersky Lab. These crippling attacks can cost businesses hundreds of thousands of dollars, if not millions. A Fortune 1000 company loses $100,000 per hour of downtime, and there’s also the danger of losing the trust of existing customers. Being prime targets of DDoS attacks, cloud services tend to be well protected against DDoS attacks of even the largest amplitudes. Cloud services are more likely to be on top of new threats as they have entire teams dedicated and trained in cybersecurity.

Related:- Information security guide for employees

Physical Security

According to Invenio IT, two in five companies still do not have a documented Disaster Recovery Plan, and over a quarter admit to rarely or never testing them. Yet, power outages, natural disasters, and simple human errors are common causes of data and productivity loss. Cloud solutions address disaster recovery by storing data in another location and physically protecting it with around-the-clock camera surveillance and automatic backups.

Data Security

Modern businesses rely on a mobile workforce, now more so than ever. Employees often use several devices from several locations, all accessing the same files and sharing them with coworkers. Unless handled securely, these practices can lead to massive data leaks and network-wide malware infestations. Cloud services encrypt all data and provide employees and employers with sophisticated tools for easy sharing and mobile computing. The data can be shared in an environment that allows for employees to collaborate on documents all within a secure environment. If a staff member loses their computer, or has a laptop crash, the data is still available, preventing mass loss.

How to trade in online games safely

Many gamers have turned in-games item trading into a robust source of income. Some sell items that they cannot use for their character class. Others are just looking to unload the wealth that they have acquired before quitting the game altogether.

Unfortunately, there are also scammers in the gaming community who use cunning schemes to leave honest gamers high and dry. You should keep in mind that some publishers, including Valve, have refused to return items to players that they voluntarily gave up to scammers.games

Gamers must be prepared to look after their property themselves. In this article, we tell you how to preserve the fruits of your hard grind, avoid common fraudulent schemes, and not bring down the banhammer.

Play by the rules

To begin with, not all developers allow users to exchange in-game items, much less sell them for real money. So before looking for a buyer for your Golden AK-47 or purchasing the Sword of a Thousand Truths, you should check whether doing so will get your account blocked.

For example, the developers of the MMORPG RuneScape prohibit the sale of both accounts and items for real money. There are several reasons for that, ranging from the legal (the game and the items in it are the property of the publisher) to security issues (accounts and items offered for sale are often stolen or obtained by dishonest means).

If you are caught in a prohibited transaction, you will be banned regardless of whether you are the seller or buyer; either way, you broke the rules. The chance that an item you paid real money for will be confiscated is also quite high: To the game administrators, this kind of transaction looks very suspicious, and it leaves you with no in-game proof of payment.

At the same time, trading armor, weapons, and other things inside the game as part of a general auction is usually not forbidden.

Related:- Hybrid Workforce Strategies for Success

Let the buyer beware …

The second important rule is to trust your intuition and steer clear of trades that seem too attractive. Just like in real life, cyberfraudsters will try to win over your trust, and they will promise you incredible discounts to persuade you to part with your money or reveal your password.

There are several signs that should make you wary. Red flags include the seller rushing your decision, pressuring you into the transaction, or suddenly offering to move the discussion outside the official platform. Even if it’s a friend writing to you, beware: Scammers could have hacked their account or be using a character with the same name as your longtime buddy, but with a barely noticeable dot at the end.

Pay attention to the exchange window to make sure that the promised hundred thousand gold coins don’t become [Boar Tusk x 1] at the very last moment. And in general, be careful to check that you are being offered the exact item you want to buy and not just a similar one. And that the item is for the right game.

Some scammers have published items for their own games on Steam that looked exactly like way more valuable items for way more popular games. For example, some shady dude managed to sell a fake Dragonclaw Hook from Dota 2. The fake was a perfect copy of the original: same look, same name. The scammers even copied the description and logo of Dota 2.

The only problem with the fake was that it had nothing to do with Dota. The item could be used only in some game called Climber, which was later removed from Steam.

After several similar cases, the platform moderators began to pay closer attention to which game an item belonged, but it’s still a good idea to exercise due diligence and check everything in advance.

… but also be a smart seller

Scammers are looking to deceive not just buyers, but also the owners of valuable items. If another player asks you to “confirm the quality” of items by sending them, or promises to make a copy of an item, or simply asks to take your item for a test drive, then most likely they are trying to rob you. If someone offers game keys in exchange for an expensive item, you should also be on your guard; they’re probably stolen.

Game stores do not recommend selling items in exchange for real money using third-party payment services such as PayPal. However, if you still want to go through with a transaction, first make sure that the buyer can be trusted. Do you have even the slightest suspicion that they are trying to pull a dirty trick? Then call off the deal. Even if you have agreed on advance payment, a fraudster can retroactively cancel a transaction by complaining to the payment system’s support service, in which case you will be left both without the item, and your money.

Related:- Information security guide for employees

Beware of third-party software

Sometimes, while negotiating a deal, a scammer will try to persuade you to install TeamViewer or, say, a voice-chat application. They say it’s to check that the product really belongs to you, or because it’s a more convenient way to communicate. The reason is just an excuse; in reality, the scammer wants to take control of your computer or infect your machine with malware. Refuse that request.

Tips to remember

Whether you are the buyer or the seller, protect your computer and account properly. If you get hacked, scammers will quickly monetize everything of value on it.

  • Do not use the same password for online games that you use for other services;
  • Do not click on any links to external sites from the game chat, and carefully check the address of any resource that requests you enter your username and password; the page may be fake;
  • Never disable your computer’s protection. Contrary to popular myth, certain antivirus packages will not interfere with your game’s performance. Rather, when you let them run, they will detect and block threats.

Information security guide for employees

An information security guide can help minimize related errors, but writing one from scratch is quite challenging. To that end, we offer a general plan, a basic guide to which you can add points specific to your company and its rules and regulations. In our opinion, this is a standard; it includes the necessities and needs only personalization.

Information

Once you’ve tweaked it as needed, don’t just file it away: Show it to all new employees and bring it to the attention of established staff as well.

Related:- Signs You Need Help with Payroll

Access to corporate systems and services

  1. Use strong passwords for all accounts — at least 12 characters long, containing no words in the dictionary, and including special characters and numerals. Attackers can brute-force simple passwords easily.
  2. Create a unique password for every account. If you reuse passwords, then a leak in one service could compromise the others.
  3. Keep passwords secret, without exception. Do not write them down, do not save them in a file, and do not share them with colleagues. A random office visitor or a dismissed colleague could use your password to harm the company, for an obvious danger, but the possibilities for damage are practically limitless.
  4. Enable two-factor authentication for every service that allows it. Using 2FA helps prevent an attacker from gaining access to the service even in the event of a password leak.

Personal data

  1. Shred documents for disposal instead of simply throwing them away. Personally identifiable information in a trash can guarantees attention from regulators and hefty fines.
  2. Use secure channels to exchange files containing personal data (for example, share Google Doc documents with specific colleagues, not via “anyone with the link” option). Google, for example, indexes documents that anyone on the internet can view, meaning they can appear in search results.
  3. Share clients’ personal data with colleagues on a strict need-to-know basis. Beyond causing trouble with regulators, sharing data increases the risk of data leakage.

Related:- Hybrid Workforce Strategies for Success

Common cyberthreats

  1. Check links in e-mails carefully before clicking, and remember that a convincing sender name is no guarantee of authenticity. Among cybercriminals’ many tricks for getting people to click on phishing links, they may tailor messages to your business specifically or even use a colleague’s hijacked account.
  2. For budget managers: Never transfer money to unknown accounts solely based on an e-mail or direct message. Instead, directly contact the person who supposedly authorized the transfer to confirm it.
  3. Leave unknown flash drives alone; don’t connect found media to a computer. Attacks through infected flash drives are not just the stuff of science fiction — cybercriminals can and have planted malicious devices in public and in offices.
  4. Before opening a file, check to make sure it is not executable (attackers often disguise malicious files as office documents). Do not open and run executable files from untrusted sources.

Emergency contacts

  1. Whom to contact — name and phone number — in case of suspicious e-mail, weird computer behavior, a ransomware note, or any other questionable issues. That might be a security officer, a system administrator, even the business owner.

Those are the very basics — the stuff everyone at every company needs to know. For greater awareness of modern cyberthreats, however, we recommend special training.

Hybrid Workforce Strategies for Success

With vaccinations on the rise and more locations preparing to return to quasi-normal, businesses need to plan next steps. While numerous surveys show that employees mostly celebrate returning to the office, workers expect more flexibility than before. For many organizations, this means operating with a hybrid workforce.

workforce

A hybrid workforce includes employees working in a traditional setting as well as employees working remotely. In fact, many workers plan to split their time between the office and home. To promote success in this new environment, organizations need to use the lessons from 2020 to drive strategies moving forward.

Analyze Lessons Learned

While the world moved to remote work overnight, the switch to the next working model will require more careful planning. Looking back at the pros and cons of the past year provides a perfect starting point for strategic planning.

For instance, workers reported greater productivity at home, and organizations learned how to use technology to enhance collaboration over distance. However, home networks in many cases could not adequately support the additional load, while IT staff struggled to secure the increase in endpoints. And employees experienced digital fatigue brought on by endless online meetings.

Related:- Signs You Need Help with Payroll

Rethink Office Spaces for Hybrid Workforce

In a hybrid workforce, office spaces can include the home as well as corporate offices and co-working spaces. A successful strategy will provide a consistent experience for all members of a team, regardless of their office location.

Organizations must ensure that those working remotely have the necessary equipment, bandwidth, and security tools. Employees may also need training to manage routers, check bandwidth, implement security measures and so forth. Additionally, leveraging cloud services will help workers move seamlessly from office to home and back.

Empowering a hybrid workforce means making changes at the corporate office, as well. For instance, to support ongoing video meetings, conference rooms need up-to-date equipment. This will ideally include 360-degree cameras to ensure that remote employees feel fully involved.

Adjust Data Security Practices

One critical area that organizations must address involves data security. Outdated, perimeter-based security strategies will no longer protect the emerging workforce. IT leadership must conduct thorough risk analyses and adjust network and security policies accordingly. Updates must take into account all of the various workspaces involved.

Ensuring that home offices have necessary equipment and that employees know how to use it properly provides a great starting point. Be certain to implement endpoint security best practices, as well. And make sure that business continuity plans cover the expanded environment.

Related:- What Is SOX Compliance Software?

Match Connection Solutions to the Need

Statistics from multiple sources show that workers spend more time in meetings now than ever before, contributing to digital overload. Thus, while team members need to connect, both for collaboration and sociality, more meetings will not fit the bill. Fortunately, over the past months people have grown more comfortable with various technology options.

Moving forward, take time to rethink connection strategies. Different types of technology work best for different scenarios. For instance, Microsoft Teams delivers feature-rich options for collaborating on documents or brainstorming ideas. And chat apps work well for time-sensitive questions.

Meetings still have a place but use them wisely. For instance, use a video or in person meeting to discuss sensitive issues. Also, for group meetings, consider that just because everyone can attend, that does not mean that they need to attend. Meeting summaries can be shared via distribution list with those who need the takeaways but do not need to participate in the meeting.

Implementing Strategies for a Hybrid Workforce

Organizations may find that the hybrid workforce brings the best of both worlds, delivering improved collaboration, productivity, and flexibility. But successfully navigating the hybrid normal will take careful planning and wise technology choices.

Signs You Need Help with Payroll

Running a business is a highly challenging task. As the owner of the business, you are responsible for all the things like efficiency of employees, successful sales, managing production, and keeping a track of your employees. All these duties together may be overwhelming. However, with strategic decision-making and smart delegation, these things can be managed easily.

Payroll

One of these responsibilities includes managing the payroll process. It may seem easy and you may not trust anyone else to do it for the company but if you let loose and delegate, you can focus on other things.

#1 You Have Made Mistakes

A small mistake can lead to huge financial errors. With so many responsibilities on your head, you might not focus on the payroll as much as you should. Delegating this responsibility or using software for the same will decrease the chances of committing expensive mistakes.

If you underpay your employees, they will feel demotivated towards working with your company and may even leave, and if you pay them more than they deserve, your capital may decrease. However, by appointing someone whose job is to make sure everyone gets paid according to how much they have worked, such errors can be avoided in prior.

#2 You Want to Save Time

Keeping the track of how much each employee in your company deserves to be paid involves a complex procedure. You will have to calculate their net pay, which can be time-consuming. This is because you will have to add the extra time or days they have worked and subtract when they went early or took holidays.

If you have dozens or hundreds of employees, doing so will consume a lot of time. So, hiring a professional and experienced person for carrying out these tasks or using payroll software will save time.

Related:- How Future Tech has Evolved with COVID-19

#3 Delayed Salaries Has Been A Case in The Past

One of the most important signs that you need help with payroll is when your employees do not get paid on time. As much as 66% of Americans agreed that they would experience monetary difficulties if they were not paid on time. The sole source of income for an employee is their salary. They have to pay their rent, buy groceries, and pay bills with their salaries.

If they do not receive the salaries on time, they might not be able to pay for rent, bills, and groceries on time. Delayed salary is one of the major reasons why employees quit and change their companies.

#4 You Need Help in Maintaining the Reputation of Your Company

A company has to ensure that every payroll activity adheres to the tax obligation of the country as well as comply with the employment legislation apart from the financial obligation. If you efficiently and effectively meet the tax obligations and uphold the legislative laws, your reputation as a stable employer will be impacted favorably. And if you are a stable employer, you will be able to hire the right talent for the company.

#5 You Have Missed a Tax Update

It is very easy to miss a tax update. At times, it may be difficult to maintain track of all the activities, specifically tax updates. You might have realized the updating of tax only after receiving a notice from the tax office. If you employ professional services or use software for the same, such an issue would not happen. The job of payroll software or the employee is to alert you regarding the updates as soon as they come, making sure you never miss them and remain in the loop always.

#6 You Want to Boost Employee Morale

The morale of your employees is impacted significantly by the payroll. If your business is small and still developing, your employees have more awareness about the financial stability of your company as compared to a larger one.

And, if you do not pay them on time, they will question your company’s financial integrity. If the employees feel their jobs are not secured, they may underperform and care less about your company’s overall performance. So, payroll needs to be paid timely to boost the morale of the employees.

#7 You Need to Ensure Data Security

The data security is imperative and specifically the payroll data, which contains your employees’ personal information like their date of birth, bank details, mailing address, social security number, etc. If you use high-quality payroll software, these details are locked for everyone else inside as well as outside your organization.

Related:- What Is SOX Compliance Software?

#8 You Find it Difficult to Maintain Employee Calendars

With a professional help or the help of payroll software, you have the benefit of knowing about how much an employee has worked at any time. They will maintain the employee calendar for each employee, which will show their sick leaves, overtime, and absences. So, while analyzing how reliable the employee is, or how much increment the employee deserves, these charts come handy.

#9 You Have Missed the Mark on Correct Employee Analysis

While running a business, one of the most important responsibilities is to offer the right increments to the employees. When an employee works with your company, by the end of the year, they will expect a raise.

While offering the raise, the number of holidays an employee has taken, the number of sick leaves, the total overtime hours, and the number of hours the employee has worked every day play an important role. A software or employee who maintains the payroll also maintains these details, which help you determine how reliable and dedicated the employee is.

What Is SOX Compliance Software?

Although Theranos was once valued at $9 billion, it has fallen too far from its glory. Investors were drawn to the promise of a technology that would revolutionize the medical industry, but the CEO of the company was creating fraud schemes behind closed doors. Once she was discovered, the business slowly crumbled, investors left, and employees had to find new employment.

Software

In today’s imperfect world, fraud cases can easily hurt your business without your knowledge, and all that’s needed is a single rogue person in the workforce. In the snap of a finger, your source of livelihood could turn into another ‘Theranos tale.’ Lucky for you, if you comply with the SOX guidelines, you can easily limit the chances of this happening to your business and using SOX compliance software is wise.

Here is more about using SOX compliance software and how it will benefit your business:

» The Value of Financial Statement to Key Stakeholders

Investment is a betting experience in which investors trust their instincts that a company will rise to its full potential. While some business will fail, others will grow to their potential. However, the one single information that can help investors decide to stay put, leave, or avoid investing in your financial statement.

Through studying the patterns in your financial documents, investors can at least have a pillow to lie on when making their decisions. Investors aside, employees and customers can also use this information to decide on whether they can rely on your business for the long-term. Unfortunately, fraud cases such as Theranos, WorldCom, and Enron do shake investors trust.

For businesses that follow the SOX requirements, however, the repercussions of fraud might be too dire for CEOs to allow it to happen. This gives most investors and stakeholders a preference for doing business with those public and private organizations that are SOX compliant.

» The Software Makes the Achievement of the Three SOX Rules Easy

Ideally, IT departments need to be in control of the financial data presented to investors. Your staff needs to comply with the SOX policies, despite trying to do so in a cost-effective manner. It all trickles down to three rules.

The first rule outlines the destruction, falsification, and alteration of the stored records and the fines that will result from it. The second rule describes the best practices for storing the records and the required retention periods. The third rule outlines the specific business records that should be saved to remain compliant, which include communication, electronic communication, and business records. Ideally, the software provides a central location for exercising control over these records.

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» It Streamlines the Role of Executives in SOX Compliance

Under the SOX requirements, CFOs and CEOs need to forward a statement along with their businesses’ periodic reports. The statement is meant to certify that the regular report you produce and the complementary financial statements comply with the SOX requirements. On the other hand, the statement should also verify that the information represented in the reports is somewhat in line with the financial situation of your business.

In case the CEO or CFO knowingly or willingly falsifies the statement, they can be fined between $1-5 million and/or jail time of 10-20 years. The trick of this rule is how these executives can ensure that the information in the financial report is correct.

Conventionally, they might have to go through every nitty-gritty detail of the financial situation before forwarding their statements. With SOX software, they can have a central location for analyzing the financial data presented to them. This eliminates the chances for errors while streamlining the compliance of your business.

» It Makes Audits Easier

In case an auditor notices any deficiencies in your compliance efforts, you risk hefty fines. However, auditors can stall your business operations when auditing your business, which can lead to losses. This will also apply to third-party auditors.

The software creates a clear evidence trail of your compliance efforts. As a result, your auditors will only need to disrupt your daily operations for a moment as they assess all the information they require.

» Features of SOX Compliance Software

Ideally, great software needs to improve your compliance automation. This includes offering reminders, streamlining record keeping, and even indexing financial records. On the other hand, it should have a dashboard that makes it easy to access every aspect of your compliance.

It should also be secure enough to protect both your business secrets and client information. Lastly, it should be user-friendly and have an interactive UI.

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» Why Every Business Needs One

Without SOX compliance, a lot can go wrong for your business. For instance, insurance companies will see you as a risky business, and you will have to pay high insurance premiums. On the other hand, it might be tougher to get investors, as most will find it hard to trust your organization.

Worst of all, you risk hefty fines from the regulatory bodies. Also, the fact that you will have an easily accessible trail will make financial reporting easy, not to mention streamlining audits.

All your stakeholders hold you in high regards, but one simple mistake or fraud case can change this. SOX software is a tool that will help you stop such a risk in its tracks. Invest in the software today to make your SOX compliance efforts more visible and achievable.

How Future Tech has Evolved with COVID-19

Relatively unfamiliar until a year ago, the word ‘pandemic’ now dictates our daily lives. Unlike other similar events like the Spanish flu or the Plague, the COVID-19 pandemic has happened in an era where the rate of technological development is at a historic high. For instance, Viraj Tyagi, CEO of eGov Foundation, says that the COVID e-pass platform was developed and deployed in eight states within 72 hours of the implementation of the nation-wide lockdown. With trends like remote monitoring of the sick, work-from-home and online shopping becoming the new normal, future tech plays a huge role in how we have adapted to the changing situation.

COVID-19

In this article, we will look at how technology has helped to address the COVID crisis, especially the fields of data science and analytics, Artificial Intelligence (AI) and UI/UX design. We’ll draw inspiration from this for what 2021 will hold and how you can take the driver’s seat for your career.

Future Tech: How COVID is Shaping Tech and Vice Versa

The early fear that career opportunities in tech will fall during the economic downturn is being replaced by the confidence that technology can ably complement human efforts and create jobs. India is at the forefront of this wave: BBC reported that researchers at CSIR-Institute of Genomics and Integrative Biology (IGIB) successfully created a paper-based coronavirus testing kit that, at about Rs 500, would give results in an hour!

With Silicon Valley companies steadily investing big in India and a third IT outsourcing wave expected, the prospects for tech jobs are encouraging. Let’s look back at the most important developments this year and what it means for future tech in the post-COVID world.

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#1 Domain-specific AI/ML Gains Popularity

AI helps to reduce manual effort in an activity by making machines mimic human behaviour. This came in handy, especially in the early days of the pandemic, when it was essential to make sure that the least number of people were exposed to the virus. In 2020, AI technologies changed diagnosis and healthcare delivery.

2020 Use Cases

AI tools helped create simple and effective ways of testing for the virus. A voice-based diagnosis application created by students in Mumbai analyses voice samples according to parameters like frequency and noise distortion and delivers results after comparing them to that of a healthy person.

Robots help reduce patient contact in hospitals and care centres. MeD Robo, fabricated in Visakhapatnam, delivers food, medicines and monitors the temperatures of COVID patients, effectively shielding healthcare workers from frequent interaction.

Healthcare, which has been lacklustre in adopting these technologies, don’t have the choice anymore. Remote consultation, automated lab testing, electronic medical records etc. will soon become the default standard. This will open up unique career opportunities for AI professionals in the domain.

Sreehari Ravindranath, our AI/ML career coach believes that the COVID period is also a good time to upskill to AI/ML if you’re already a healthcare professional — because you know the domain and are likely to help achieve greater accuracy. This also goes for all industries.

2021 possibilities

In 2021, we believe that generic AI will give way to more domain-specific approaches. It will take into account contextual factors, data security, privacy, regional compliance needs etc. to put AI into more effective use.

If you’re looking to grab an opportunity in AI/ML, here are some top skills you’ll need:

  • Python programming
  • Statistical inference
  • TensorFlow
  • Deep learning
  • Machine learning
  • Natural Language Processing (NLP)

#2 Advanced Analytics Becomes Omnipresent

Even if you’ve never seen advanced analytics in action before, you would have since COVID struck. The various kinds of numbers you see everyday — testing rates, number of cases per day, percentage of deaths, vulnerable groups, country-wise reports etc. — are all available only as a result of advanced global analytics systems.

Public health strategies like ‘flattening the curve’ are also devised on the basis of such numbers. One could argue that collecting mass data and analysing it has gained new importance for both the private and public sector, as a legitimate means to solve complex problems.

2020 use cases

Database management systems have helped to handle the large volume of data produced. Home Quarantine & Isolation Management System (HQMIS), is one such, used by the Greater Chennai Corporation to monitor those under home quarantine. Data was collected from 18 sources, cleaned and dispatched to area heads. The HQIMS app also provided a data visualization dashboard with reader-friendly results.

Insights were key to making the ‘new normal’ work. Large companies had to revamp their operations to the work from home style. Cognizant, for example, built an analytics stack to make quicker and more informed decisions.

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2021 possibilities

The prospects look good too. Salesforce alone plans to add 5,48,00 direct jobs and 1.3 million indirect jobs in India, according to chief data evangelist Vala Afshar. This is good news. If you’re hoping to prepare for a career in data analytics, here are some skills and tools you’ll need:

  • MS Excel
  • Programming with R or Python
  • Building queries with SQL
  • Data visualisation
  • Software libraries like Apache Hadoop

#3 Intuitive Design as the Foundation of Better Virtual Experiences

A natural consequence of being homebound for months together is that people now rely on their phones and computers even for activities that were hitherto done offline. This has opened a window for companies to strengthen their online audience by giving them the best virtual experience.

2020 use cases

Companies have rethought their virtual offering to improve online brand engagement. Luxury shoe brand Christian Louboutin recently launched a virtual universe on a South Korean gaming platform that lets users’ avatars try on collections showcased in the Paris Fashion Week.

COVID related apps have increased the demand for good UI/UX design. These include apps for receiving information, tracing (eg: Aarogya Setu app), monitoring, to online shopping, delivery, fitness etc.

2021 possibilities

Unlike data jobs, UI/UX design is accessible to a larger population as it does not require a tech background. The most important tool for a designer is an intuition for good design, and comfort with a few design tools. These might be:

  • Research tools like Google Analytics, UserZoom
  • Balsamiq for wireframing
  • Invision for product design
  • Figma for interface design
  • Presentation tools such as Powerpoint

Launch a Future Tech Career in 2021

The biggest lesson from 2020 is that: Technology is only as good as the impact it can make. We noticed that experimental technology projects were growing slower when compared to existing technology adoption. This meant that:

  1. Domain experts are on par with technology experts.
  2. Analytics that enabled decisions were valued higher than reports that just presented numbers.
  3. Design is used to shape a user’s feelings, emotions and decisions, far beyond simply being pretty.

At Springboard, our experts keep an eye out for these trends and regularly upgrade the programs to be job-ready. All of Springboard’s programs prioritise practical expertise and industry application.