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8 Benefits of Cloud-Based Business Management Software

Posted on by Becca Uptmor

It’s no secret that technology is evolving—and the world of business is changing too. Remote working is on the rise, which is forcing conventional workplaces to pivot the way they work.

One way businesses are changing is in the storage, processing, and collaboration of data. While on-premises ERP (enterprise resource planning) systems were traditionally used, today many businesses are turning to cloud-based business management software, including Mobile Backend as a Service (MBaaS) solutions.

Compared to physical hosting and in-house solutions, these systems are adaptable and easy to use. So how does it work? Put simply, your system is hosted on virtual servers that are easily accessible over the internet. Meanwhile, data is saved on external servers controlled by your service provider rather than on-site servers. 
These cutting-edge data centers are properly managed and feature computer resources dedicated to hosting applications such as digital marketing software on several operating systems. So what other benefits does a cloud-based business management software solution provide?

How Does Cloud Computing Work?

With cloud computing, you can run software remotely via the internet without configuring or maintaining your own server infrastructure. So rather than investing in hardware, you only need a web browser and an internet connection to manage your business’s IT systems. 

Meanwhile, your cloud computing provider handles the installation, maintenance, and upgrades of the software, servers, operating systems, and network switches that make up your cloud.

What Are the Primary Service Models in Cloud Computing?

Remote desktop hosting and data storage are just some of the many practical applications provided by cloud-computing services. The services on offer are divided into three primary models:

Infrastructure as a Service (IaaS)

With IaaS, you can rent servers, storage space, virtual devices, and even networks from a cloud provider on a pay-as-you-go basis. If you’re a small business, this may be a useful option, as IaaS providers offer flexible infrastructure to handle fluctuating workloads. Examples of IaaS providers include Amazon Web Services, Google Compute Engine (GCE), and Microsoft Azure.

Platform as a Service (PaaS)

PaaS is a model for delivering cloud-hosted applications and infrastructure to developers. This covers everything from web portals to gateway software and APIs. Solutions such as Amazon Web Services’ Elastic Beanstalk and even Facebook are excellent examples.

Software as a Service (SaaS)

Chances are you’ve used a SaaS tool before – applications include popular services like Netflix, Quickbooks, Zoom, and Google Workspace. 

This model offers access to various software through the internet. SaaS applications can be accessed via desktop clients, web browsers, or APIs that interface with the user’s operating system. 

Collaborating on projects, sharing data, and accessing specialist software are all made easier with the aid of SaaS applications. Users often pay a recurring cost, either monthly or annually.

8 Benefits of Using Cloud-based Business Management Software

As technology continues to evolve, understanding the latest consumer trends is essential for businesses to stay competitive. One trend that has emerged is remote working, which has forced conventional workplaces to pivot the way they operate. Another area in which businesses are adapting is in the storage, processing, and collaboration of data. This is where cloud-based business management software comes in, providing adaptable and easy-to-use solutions that cater to the latest consumer trends. 

The number of companies using cloud computing is growing. In fact, 69% of businesses accelerated their cloud migration in 2022, and that number is likely to grow. 

Here are some other top benefits of using cloud-based business management software for your business: 

1. Promotes Job Satisfaction 

Cloud-based business management software makes managing who has access to what easier, especially if your workforce is increasingly remote. Employees can log in from wherever they are and use whatever device they like, increasing productivity and allowing for greater autonomy and adaptability across the company. 

With this consolidated method of interaction, your teams will all be on the same page and more motivated to work together. By empowering employees with more autonomy while retaining the necessary level of control, you can increase job satisfaction and employee retention.

2. Improves Data Accessibility

For employees to be as productive as possible, it goes without saying that they need to access data remotely and in real time. Cloud computing gives employees access to company data from any device with an internet connection. With the right credentials, users get immediate access to data by logging in to a single online hub.

Role-based access is also a feature of certain cloud-based services, ensuring that only authorized users can access sensitive information. These security measures help to ensure that only authorized individuals can gain access to private data. Another advantage is that it enables managers to efficiently manage remote teams, which means that employees in different locations, even across the world, can collaborate on the same projects as their colleagues in the central office.

3. Offers Better Protection

Improving your company’s cyber security practices is essential in modern business, as cyberattacks and hackers pose a threat to corporate data. 

By investing in a robust data security process, you can curb data theft and keep sensitive information safe. This means fewer emergencies and maintaining a solid reputation with your employees and customers.

Switching to cloud-based business management software is an excellent approach for strengthening cybersecurity. A cloud-based business management system helps you keep tabs on sensitive information and ensure its safety.

Some methods used by cloud vendors to guarantee data security include the following:

  • Data encryption
  • Web services security
  • The TLS (Transport Layer Security) protocol
  • Network IPSs (intrusion prevention systems)
  • Multi-factor authentication
  • Physical server security 

Moreover, software vendors undergo internal and external audits, so your business can be sure that your data is safe and secure.

4. Improves Scalability 

No matter the size of your business, change and growth are inevitable, whether it’s setting up a new onboarding system or exploring complex topics like model drift detection. With this in mind, your enterprise management system must be flexible to accommodate such changes. 

If you need to add or remove users as your company expands or contracts, you can do it with ease when using cloud-based software.

What’s more, you’ll have far more leeway than you would with a legacy system because of the ability to scale your infrastructure to match business demands. Because you only pay for what you use, there’s no chance of overspending or running out of storage space.

A flexible system that can adapt to technological developments and market shifts is crucial to thriving in competitive marketplaces. When compared to a proprietary system, cloud-based business management solutions’ flexible upgrades and new features are affordable and offer significant growth potential.

Furthermore, cloud-based solutions enable greater opportunities for integration, either between applications from a single provider or third-party software, allowing you to customize your technology to your organization’s specific demands.

5. Offers a Cost-Effective Solution

Cloud management software helps you store data without the hassle of purchasing and maintaining hardware and other equipment. Setting up cloud-based business operations also requires less of an upfront financial commitment than setting up in-house infrastructure and employing a full-time IT department.

The majority of cloud-based services only charge you for your consumption. Like with other services, data storage space is often priced per unit of storage space used. These services are reasonably priced and contribute to reduced costs and a higher ROI.

6. Supports Data Backup and Recovery

Reducing downtime and preventing data loss are key priorities for successful businesses. However, both targets can be difficult to achieve and maintain. Taking measures to limit the severity of data loss and downtime as much as possible is an important first step.

Unnecessary expenses and losses can accrue quickly when even minor problems arise. Data backup and disaster recovery are crucial in the event of unexpected problems. Data recovery and backup functions are built into cloud-based software to mitigate the effects of emergencies such as power outages or natural disasters.

If your company’s data is safely backed up in the cloud, you can rest easy when unexpected situations arise and your system is compromised in any way.

7. Offers Automatic Updates

Speaking of loss of productivity and unanticipated downtime, both are possible results of overlooking software updates. 

Traditional software needs regular manual upgrades to function correctly. This is often a tedious, costly, and challenging task that might require an IT professional’s help or input. 

By using cloud-based software, your business can benefit from the time savings and peace of mind that come with having the most recent software upgrades applied instantly. This automation eliminates the need for costly and time-consuming third-party IT support. If your employees don’t have to spend time on mundane tasks like maintenance, they’ll have more mental bandwidth for more critical projects.

8. Supports Work Synchronization

It’s easy for mistakes to be made when several people are working on one digital file. 

However, if your files are stored on the cloud, you’ll always have access to the most recent version, regardless of what device you’re using and who else is modifying the file. 

This feature is valuable for organizations that prioritize continuity in communications, such as a virtual customer service business. Changes are updated in real time and synchronized across all accessible devices, allowing your employees to make key business decisions using the most recent data.

Take Control of Your Business

The best part about cloud computing is that it simplifies complex business systems and saves you time and resources. 

You don’t have to struggle to maintain vital business systems by expending scarce IT resources. It handles all that, allowing you to focus on more critical business goals thanks to your cloud computing provider.

Nevertheless, cloud computing also has certain drawbacks that you should be aware of before making the switch. To get the most out of a cloud business management system, it’s important to do your research on the services you’re considering, learn about security measures and compliance requirements, and provide your team with appropriate training on how to use the new system.

Identity Verification: Why is it Vital for Growing Businesses

Posted on by Juliette Anderson

Global data breaches have skyrocketed over the past couple of years. This also led to the rise of account takeovers and ident

As a result, businesses need to find a reliable way to confirm if someone is who they say they are. Doing this quickly and easily without any road bumps is vital to your business’s success.

The Advantages of an Online Identity Verification Solution

The process that’s designed to confirm an individual’s identity by checking using specific credentials is identity verification. It’s one of the most important steps when doing business with another party. 

Online identity verification is crucial to the risk management of your company. If you still don’t have a streamlined identity verification system in place, here are the reasons why identity verification is vital for your growing business:

Why Is Identity Verification Important?

Reduces Risk For Your Business

Integrating an online identity verification on your website or mobile app will help prevent fraud. It will also protect consumers’ identity, verifying their identity before they can buy products and services online.

 An automated id verification solution helps prevent data theft and reduce the risk of cyberattacks which is one of the threats many organizations face. By verifying your customers’ identities, you’re sure who they are. Having a verification will also prevent fraud and other cyber crimes.

Maintain Your Reputation

Reputation is critical to businesses of all shapes and sizes. In an era of data breaches, customers want to know their data is safe.

If you run identity verification checks, this shows your customers that you want to build trust in an increasingly exposed online world. Trust is the foundation of any relationship, especially in a digital landscape that’s grown increasingly fickle. 

Failing to establish trust damages your business’ reputation and eventually hurts your revenue. On the flip side of everything, enhancing your reputation and giving your customers the assurance they’re looking for in what they need to use or continue using your service will work wonders in your overall bottom line.

Prevents Identity Theft

Identity theft is an ever-growing concern as more and more people rely on online services for more sensitive tasks like banking, data storage, and shopping. 

Your revenue will also suffer when you lose your customers because of identity theft. If you have the means to protect your business from these situations, your operations can be protected, depending on how severe the damage is. That’s why you need to know what to do to reduce the risks of this situation happening. 

Having robust cyber security measures in place with solid identity verification, such as facial recognition log-ins, two-stage authentication, and adequate security protection on sensitive data, is vital. 

Prohibits Unauthorized Access to Data

Verifying the user’s identity will ensure only authorized individuals can access your data. 

That’s why this is vital for businesses that deal with sensitive customer data like financial and personal information. 

Enhances Customer Experience

In this highly digital age, customer experience is everything. People are likely to continue with your service if it’s safe and they feel satisfied. They’re also expected to spread the word about the solutions you offer. 

That’s why excellent identity verification is critical to making your customers happy. By verifying users, you can ensure they’re saying who they are and not using someone else’s information. This can decrease frustration from your customers and boosts their overall satisfaction.

Compliance Adherence

It’s also crucial to comply with regulations. In different industries, some laws and regulations will require businesses to verify the identity of their users. Depending on your location, these regulations are imposed by different bodies. 

Here are examples of the major AML regulatory bodies around the world: 

There might be times when a country has more than one regulator that covers various aspects of fraud or may specialize in a specific industry. 

Nevertheless, each country is mandated to prevent fraud and ensure that the businesses within their jurisdiction will adhere to the laws that the government sets out.

Enhances Your Customer’s Trust

Identity verification enhances the trust between a business and its customers. 

Having these verification precautions in place, you can protect your company’s data and show customers that you’re taking security seriously while safeguarding their personal information. This helps you improve customer relationships and overall trust in your business. 

Avoid Hefty Chargebacks

Credit card fraud takes up a large portion of the total identity fraud cases yearly. When businesses allow their customers to use credit cards for online purchases, committing fraud is easier because most of these transactions fall under the “card not present” category. 

Thus, people use credit cards fraudulently that aren’t theirs to buy goods online, and once the actual owner finds out, they will cancel the transaction. A business must identify and trace the original fraudster to avoid being liable to pay back the money. 

In the finance world, this is known as a chargeback. Unfortunately, this can be costly for companies that accept credit card payments. By revising the identity verification protocols for card-not-present transactions, identity verification lets you avoid costly chargebacks. Using stricter verification methods also stops “friendly fraud” in its tracks.

What’s Next For Identity Verification?

Technologies that enhance identity verification are being developed every single day. There’s also a possibility of blockchain-enabled decentralized identity for everyone on the internet in the future. 

The motivation behind this is that it gives people more control over their personal information. Furthermore, businesses can take a backseat in managing identity documents and what has been a very hands-on verification process before.

Over To You

Data breaches scare many customers. To alleviate these fears and avoid incurring costly fines and any money laundering issues, as a business, you need to create a smooth identity verification process that’s not only customer friendly but also adheres to an organization’s guidelines. 

How to Protect Your Business’s Assets on a Cloud Network

Posted on by Eleanor Hecks

Cloud networks are the wave of the future. The ability to access your business assets anywhere is attractive to many companies—especially those with a remote team. However, protecting digital assets requires sophisticated knowledge and foresight. 

The cloud services market is a $266.4 billion industry and growing yearly. As with anything online, though, cybercriminals will try to find ways to access personal information or take systems down. Protecting your business’s assets is a vital step in ensuring your customer and business data stays safe. 

Cloud security is often a concern of small-business owners. Some may even shy away from cloud computing due to fears of exposing trade secrets or customer lists. That said, you can take steps to protect your business’s assets while reaping the benefits.

1. Choose the Right Provider

Your first step should involve choosing your cloud provider wisely. What steps do they take to ensure secure digital assets? Top cloud-based hosting companies have the best security software imaginable. Because they represent numerous clients, they can invest more in world-class protection.

Ask how they back up information. What happens if a hack does occur? Find out how frequently they update their security systems and what they do to identify and quarantine potential threats.

2. Match Specialties

Some cloud providers specialize in working with particular industries. A company that already has clients in your sector better understands your specific security needs. Cloud migration can take endless hours of moving databases to a new setup. It helps to know which system you want and why. 

Find a provider willing to move information over for you in a secure environment so you start the process with less risk.

3. Secure Your Wi-Fi

blue wi-fi strength indicator for cloud security

It doesn’t matter who your provider is if the devices used to access data are compromised. Make sure company Wi-Fi is secure so that non-authorized people can’t log in and watch what your employees are doing. Instead, set up a guest Wi-Fi if you want to provide convenient Wi-Fi connectivity to on-premises visitors.

The Covid-19 pandemic showed us that remote work environments are effective. Your IT department should pay particular attention to security concerns for employees working off-premises. If remote staff needs to access information from the main office, set up a secure VPN network that’s resistant to cyber-attacks.

4. Require Regular Password Resets

Require your workers to reset their passwords for logging into the office network every 45 days or so. Set complexity rules around the types they can create, don’t allow repeated passwords, and ask them to protect their current login information. Multi-factor authentication, where users receive a secondary verification code on a trusted mobile phone, is a must.

Although not as common as some other attack vectors, there have been occasions when someone works at a coffee shop and a nearby table notes their login and steals it to access a company website.

Identity Theft Resource Center infographic depicting Q1 2023 data compromise statistics.

5. Security

Just because news of corporate data compromise no longer dominates the headlines, breaches are still happening. Most in-house IT staff are well-versed in a number of disciplines, but effective data security practices are a moving target.

Consider hiring a 3rd-party cybersecurity expert. The level of creativity and malice of today’s data theft actors is astonishing and they only need to succeed one time. To avoid catastrophe, your security needs to be right every time.

Today’s outsourced cybersecurity firms offer surprisingly inexpensive services to help businesses stop attacks before they occur. 

6. Train Employees

One of the top things you can do is train your employees in cybersecurity. Explain spoofing and phishing and how they can avoid it. Set policies to never request password information in an email. 

Spend time refreshing your staff about how to keep data secure every so often. They should be very careful when working in public locations.

Should you need to terminate an employee, make sure their account credentials are disabled immediately. Otherwise, you open your brand up to vengeance attacks. 

7. Keep Backups

Even if the cloud hosting company you use keeps regular backups, and most do, make sure you keep them as well. In the case of a severe cyberattack, your entire system, website, and online presence may go down.

The best way to get back online fast and avoid revenue loss is with a recent backup. However, it might take days to restore everything if you don’t. Develop a business continuity and disaster recovery plan before a catastrophe happens. In a worst-case scenario, you risk losing some data forever.

8. Keep Sensitive Data Offline

If your company has some truly sensitive data because you work with patients or the government, consider keeping some things off the internet. No matter how much software you install or how robust your security is, there’s always a chance of hacking.

If something is extremely sensitive, you can code it and use that for your online entries or just take that information to your private servers. However, they must also be kept secure.

9. Encrypt at the File Level

Even if your cloud provider uses encryption, add another layer of protection by encrypting before you upload your files. You’ll need something your remote workers can access, but it’s crucial to take that one added step to prevent sensitive data leaks.

Use database sharding to break up sections and store them in different locations to further protect documents. They may breach your network, but they aren’t likely to find the full information they need to steal private information. They’ll only have bits and pieces.

Business Cloud Security

The rate of cyberattacks has grown in the past year. More people are online, and businesses have to be remote-work-friendly. Cybercriminals are taking advantage of this, but you can stop them in their tracks—and protect business assets on the cloud—by following a few of the tips mentioned above.

Think about the different ways you might open yourself up to an attack and take steps to stop it before it happens. Your cloud provider can help by putting protections in place, and you can ramp up security on your end, too.

The Importance of Integrated Accounting Software for Mental Health Practices

Posted on by John Fay

If you own a growing private mental health practice, maybe you have considered investing in mental health management software. If you’ve done some research, then you know how beneficial mental health management software can be for your practice. But what you might not have read in your research is how important integrated accounting can be when making a choice between mental health software solutions. Beyond the usual benefits that accompany cloud based accounting, your private practice can especially benefit from mental health accounting software.

Why Cloud Based Accounting Is Better

Ultimately the best advantage that mental health accounting software provides is its efficiency and accuracy as compared to spreadsheets, pen and paper. Excess labor and miscalculations will be a thing of the past with mental health accounting software. In turn, this will lead to detailed financial reports that can be completed in seconds instead of hours. With mental health accounting software being cloud based, these reports and data can be updated and shared automatically, providing your growing practice with data transparency. It’s especially important to consider how conveniently data can be shared between departments. Mike Whitmire from Forbes states “Accounting works with each department on a regular basis,” so the ability to share data between departments through cloud accounting software can really save your staff time and avoid unnecessary problems.

But while there is transparency within your private practice, you don’t have to worry about security leaks. Mental health accounting software is more secure than any alternatives, as Norton points out when talking about cloud based storage, “The data that you save with cloud service providers may likely be safer than the information you’ve stored in your computer’s hard drive”. This security extends to the rest of your mental health software so that you make sure that your private practice is always HIPAA compliant.

Mental health accounting software isn’t just for tracking and calculating expenses.. Mental health billing software also manages payroll information, from salary earned, to hours worked to time-off taken, and much more. All of it is made simpler for the human resources department. This feature is especially important for your private practice, where doctors might have to spend odd hours helping patients and not sitting down to take care of logistical documentation.

These are just some of the main benefits that private practices can gain from mental health accounting software. Maybe you’re wondering why you should look for integrated accounting instead of buying a separate software program to manage that facet of your business. Well, there are two big reasons why an integrated accounting feature will be better for your private practice.

How Integrated Accounting Makes a Difference

A big advantage to integrated accounting software is the ability to sync data. You won’t  have to worry about whether the data will transfer or share between two programs because there won’t be two separate software programs, just one, unified software system. Synced data allows for quicker financial decision making and can offer benefits, too. For instance, your private practice can send invoices electronically and because you have your accounting software integrated with your practice management software The process is almost effortless compared to using multiple, disconnected software systems that don’t easily share data between them. Mental health accounting software also facilitates the logistics of insurance claims. Because data is centralized in one system, your staff no longer has to hunt down information in order to properly file claims—it’s already synced together.

However the simplest reason why an integrated accounting option is better is because it’s more cost effective. Why pay for two separate programs when you can pay for one instead? Additionally, there’s the benefit that the staff working in your private practice will only have to learn one software program instead of two, decreasing the cost of labor and time getting up to speed.

Patient Focused

While all of this certainly makes work more efficient for your staff, integrated mental health accounting software helps your patients as well. As previously mentioned, patients can receive their invoices electronically, meaning they can receive their invoices quicker and more securely, but there are other benefits for patients as well. Patients can pay electronically too, ultimately increasing a patient’s payment options to suit their needs. They can view their past bills, see their transaction status, and ultimately have a clearer and easier picture of what their financial obligations are in relation to their healthcare..  

Perhaps most importantly is the customer portals that accompany mental health services software. Patients and staff can have communication that is convenient for both sides. If they have a question about their most recent bill, patients don’t have to spend half an hour on hold while trying to contact someone, and staff can immediately help patients with the most up to date data that’s all in one place.

The more efficiently a software handles the processes of a private practice, the more time can be spent taking care of patients and focusing on their treatment.

The Takeaway

Choosing a mental health services software is an important step to take for your growing private practice so, when you compare your options make sure to look for a software that includes mental health accounting software. Not only will it improve the efficiency of your accounting team and reduce miscalculations, it will benefit your whole practice. With secured, synced data, every process will be more effective and help both the staff and your patients.

Striven Named Top Accounting Software – Capterra 2022 Value Report

Posted on by Scott Hammer

This blog references the Capterra Value Report published by Baljeet Kaur on May 6, 2022.

After receiving five awards from Capterra in the first quarter of 2022, Striven recently received another recognition from the market research specialists at Capterra: the top placement on the Accounting Software Value Report.

Striven was ranked the highest in both “Value For Money” and “Functionality“. This data is directly sourced from Capterra user reviews.

Striven best accounting software capterra

Along the “value for money” axis, Striven ranks highest due to its competitive pricing plans and its ability to do more than traditional accounting software is capable of. Striven is an all-in-one business management software that handles CRM, project and task management, inventory management, productivity report generation, and much more.

As one reviewer says, “Our business has many variables and parts, and we were able to get Striven to do what other bigger systems were not able to….at a fraction of the price.”

Not only did Striven achieve high “value for money” ratings, but Striven has also garnered praise for its robust and user-friendly functionality. Having all of the important accounting features businesses need baked into a complete ERP system, Striven has been successful in helping businesses achieve their goals.

In the words of one Striven user, “Striven has gone far beyond our expectations. The functionality has already saved hours of time in our day to day operations.”

This report has been helpful for small and midsized business owners in showcasing the different products that are best suited for their needs.

Most notably, Striven places higher than other popular accounting software systems: Zoho Books, Odoo, and 3 products in the Quickbooks suite.

Click here to read the user reviews of Striven that this report was generated from.

Striven Earns Top ERP Software Awards From Capterra, SoftwareAdvice, and more in 2021

Posted on by Scott Hammer

Striven was recognized as an industry leader in multiple ERP software categories by Capterra, Software Advice, and GetApp.

Capterra, Software Advice, and GetApp have named Striven an industry leader in multiple software categories:

  • Best Ease Of Use – Capterra, 2021
  • Best Value – Capterra, 2021
  • Best Customer Support – Software Advice, 2021
  • Front Runners – Software Advice, 2021
  • Most Recommended – Software Advice, 2021
  • Best Functionality and Features – GetApp, 2021

These recognitions come as a result of excellent reviews across all three software selection channels. Users who rated Striven were asked to weigh in on functionality, customer support, value, ease of use, and more. Striven has outperformed many of its competitors in each ranking. Each award was sourced directly from these user reviews, two of which are represented below:

“Striven allowed us to integrate lead generation, email marketing and a CRM. This switch keeps all of these systems that were previously other software subscriptions down to just one- Striven.” – Blake E, 5/5 star Capterra review

“Striven is the ERP for growing businesses. Striven is the most customizable ERP on the market. Offering the ability to customize everything from sale order documents to emails! Allowing customizations in the processing of sales orders, invoices, and items.” – Bill M, 5/5 star Capterra review

Striven product leaders expect that it will consistently earn recognition for its product and team performance, with more awards to come in 2022.

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ABOUT STRIVEN
Striven is an all-in-one business management software providing a complete end-to-end cloud solution for most professional industries. It not only offers billing and invoicing tools, but also includes solutions for customer and contract management, projects, tasks, inventory, HR, and more. To learn more, visit striven.com.

ABOUT CAPTERRA
Since 1999, we’ve been the web’s leading free resource for business software help. We connect you to insights and software to help you do better work. We help you find the right software for your business. Feel confident with the most comprehensive software search resource out there. To learn more, visit capterra.com