Harnessing the power of digital tools

Companies across the globe face myriad challenges, all of which compel them to find ways to improve efficiency in their business and treasury. Some countries suffer from sluggish economic growth and an unsettled geopolitical situation, and the prospects of a trade war between some of the world’s largest economies – the US and China – are creating further powerful headwinds. At the same time, regulatory pressure continues unabated, increasing compliance costs.

Perhaps most significantly, technological disruption and increased competition challenge corporates; innovation and new business models have levelled the playing field for new entrants. In many instances, established companies are playing catch-up – with a consequent need to invest significantly in new technology – at the same time as these leaner and more nimble players erode their margins and market share.

Embracing digital is key to growing and prospering in this dynamic environment. Innovations such as the cloud, big data, artificial intelligence (AI) and machine learning offer huge opportunities for all companies. From a business perspective, digital can be used to preserve margins by automating back-end processes, digitising sales processes, enhancing collaboration across business silos, such as between manufacturing and sales, and improving decision-making (by leveraging data that already exists in the organization via analytics).

All companies need to investigate the potential of such technologies and invest in appropriate solutions in order to protect their business and lay the foundations for future growth. Corporates also need to be aware that while digital brings new opportunities, it also creates risks: cyberthreats are multiplying rapidly in both number and sophistication. Given the potential damage they can do to a company and its reputation, pre-emptive security and rapid-response capabilities should breaches occur must be priorities.

Smaller firms have traditionally fallen behind in digital capability. According to ABS 8129, Alphabeta analysis, micro firms are up to 75% less likely to adopt digital technology to support business processes strategic planning. From that, less than 40% of micro and small firms use tools to support planning, marketing or production processes. Almost half (43%) of all cybercrime is targeted at small business. (1) Only 54% of small firms use digital invoicing and accounting relative to 78% of large businesses. Meanwhile, around one in four small businesses experience cybercrime each year, (2) often costing $1,000- 5,000. (3)

At Network Overdrive, we offer vast digital services, from I.T. Consultation to I.T. Specialist Service which might help your organization to have a hassle-free digital support. Network Overdrive’s global service desk ensures that your international expansions and overseas operations run smoothly and are fully supported.

Our experience in Asia and other parts of the world gives us an understanding of what is required to meet local IT standards. As a multilingual and multi-time zone IT service, Network Overdrive offers desktop and verbal support to your staff anywhere in the world. Let us support your international offices with local numbers, local onsite support in major locations (if required), and local hardware/telco management services. By managing and controlling IT locally, we ensure global network optimisation and management to a central infrastructure while maintaining clear reporting to your head office in Australia. Billings to head office or a regional branch are also available in AUD or the local currency.

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References: https://www.cisa.gov/sites/default/files/publications/20_0306_cisa_insights_risk_management_for_novel_coronavirus.pdfhttps://www.consumer.ftc.gov/blog/2020/02/coronavirus-scammers-follow-headlineshttps://www.us-cert.gov/ncas/current-activity/2020/03/06/defending-against-covid-19-cyber-scams https://www.consumer.ftc.gov/features/coronavirus-scams-what-ftc-doinghttps://www.us-cert.gov/ncas/current-activity/2020/03/06/defending-against-covid-19-cyber-scamshttps://www.consumer.ftc.gov/blog/2020/03/ftc-fda-warnings-sent-sellers-scam-coronavirus-treatmentshttps://networkoverdrive.wistia.com/medias/lrjfk8rqsvhttps://www.cyber.gov.au/threats/threat-update-covid-19-malicious-cyber-activityhttps://www.zdnet.com/article/acsc-issues-warning-around-coronavirus-themed-malicious-cyber-activity/https://techwireasia.com/2020/01/cybersecurity-are-businesses-making-the-right-call-in-tempering-threats/ 3 STEPS TO PROTECT YOUR DATA FROM COVID-19 SCAMS Coronavirus (COVID-19) isn’t just a growing threat to…

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