Information Technology (IT) can make or break a business. When done right, thoughtfully laid-out and well-implemented technology solutions result in increased profit, productivity and growth. In a recent article, “Productivity is soaring at Top Firms and Sluggish Everywhere Else”, HBR correspondent Chiara Criscuolo pins the success of growing businesses on innovative IT strategies. Criscuolo identifies the main cause of the increasing productivity gap between successful “Frontier” firms and everyone else as the effective use and implementation of IT solutions.
Productivity is the most important driver of economic growth and long-term sustainability in an increasingly competitive marketplace. An HBR research team found that the most successful businesses—both in manufacturing and service— effectively implement IT strategies: strategies that make successful firms exceedingly more successful. These IT strategies focus on increased productivity in service and production—culminating technological investments with human and organizational improvement. The IT revolution goes beyond simply technological advances—rather it emphasizes the integration of human skill with software and organizational know-how (managerial quality) to create a more satisfied, engaged and productive workforce.
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PayPal chip reader
The transition to the new chip credit card technology may at first glance seem confusing— I’ve heard several business owners ask questions such as “How will this impact my business?”, “Will this cost me a lot of money?” and “What are my options?”. In short, if you currently use a point of sale (POS) system, the new industry standards will affect you. Check out our recent post about this chip credit card transition for details. You will want to invest in a chip-capable card reader by October 1 of this year (the date when major credit card providers will switch over to their new policy). But on the bright side, there are a couple of light-weight options for chip card readers that are relatively inexpensive, easy to use and even compatible with most current iPhones, tablets and Android devices.
Both Square and PayPal have announced chip/swipe readers that should be coming later this year. These mobile credit card readers simply plug into the headphone jack on your phone or tablet— effectively transforming it into a cash register.
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Usually, my tips are directed at finding tech solutions to better your overall business. But today, I’ve decided to do something a bit different. Because we are in the midst of home improvement season, I wanted to showcase a couple of helpful phone apps that have made my 2015 fixit-yourself projects run a LOT smoother. Below I describe the 5 essential iPhone apps for home improvement DIY projects. Let’s call it the iPhone DIY suite.
To get started you probably will need an application to figure out how to implement the projects on your To-Do list. Get started by checking out: WikiHow and iFIXIT.
WikiHow will tell you how to do anything from tenderizing chicken to building a frame wall in your basement. I use this app often.
iFIXIT specifically focuses on how to fix things (appliances, electronics and even computers). Even if you opt for a handyman, it will give you a good idea what work needs to be done—this app can help to gauge whether quoted work seems reasonable.
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A popular online malware marketplace used by cybercriminals all over the world has been shut down by authorities.
The website, known as Darkode, established in 2007, was the largest-known English-language malware themed forum in the world. Darkode had between 250 and 300 active members and worked as a means for online criminals to buy and sell everything from stolen data, to various hacking tools.
As means to previously avoid unwanted infiltration, to become a member of the site, one had to be vouched for or nominated by existing members in order to utilize the forum. To further protect themselves, Darkode was hosted on web servers that were set up to resist law enforcement penetration.
It is believe that users of this forum were responsible for the cyber-attacks on Sony’s PlayStation Network and Microsoft’s Xbox Live services from last year, among others.
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A recently discovered computer bug known as “Stagefright” is being called one of the worst Android vulnerabilities ever discovered. The bug, which affects Android versions 2.2 and up, currently leaves 95% of Google Android phones open for a cyber-attack.
All a hacker needs to victimize a user is their phone number. Once they have that, the hacker can send a multimedia message called Stagefright to an affected phone. This allows them to steal the user’s data and hijack the device’s functions (such as camera and audio functions).
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In the wake of recent massive data breaches and increasing rates of credit card fraud, US card issuers are migrating to a new chip-based card technology (formally known as EMV—Europay Mastercard and Visa). Currently, most US credit cards operate by magnetic strip—technology that can be captured and copied relatively easily. Most other countries use a small chip on the credit card to authenticate transactions. This chip technology implements cryptography and a several other security features ensuring multiple dimensions of protection against card fraud, which cost US banks $8.6 billion annually [1].
American card providers are launching EMV with chip and signature—to start— with aims to migrate to more secure chip and PIN down the road.
The first round of EMV cards – many of which are already in consumers’ hands – will be equipped with both chip and magnetic-strip functions to prevent disruptions to consumer spending during the migration to chip technology. For most consumers, this card migration is trivial as they have little stake in fraud prevention—many credit cards heavily advertise zero consumer liability [2].
Unfortunately, this card shift could add substantial costs to your business if you fail to comply with new credit card policy changes from the nearing chip migration.
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