Capterra, the leading online resource for business software buyers, today released its findings from a survey of 699 individuals across 14 industries on what software small business owners should invest in now and what software they can put on the back-burner. Designed to help SMBs set their purchasing priorities, key takeaways from the Capterra survey unveil owners need to invest in data security, right away. Customer relationship management (CRM) software is essential to most businesses, and depending on the company, blockchain and business intelligence may not be a significant option, at least right now. While small business investments are determined by a complex combination of factors that are unique to a company's goals and circumstances, Capterra's survey results and analysis are a "pulse checker" on the SMB market in general and vital to small business owners.
The Landscape Now: Security and Cloud Technologies Drive Today's Small Businesses
Among the technologies already implemented in SMBs, results show small business owners need to invest in data management or information security solutions with only 68 percent of respondents currently using data and information security technologies. "The SMB community must commit to 100 percent participation in security management in order to stop data breaches," says Tirena Dingeldein, senior analyst and content manager, Capterra. "Hackers are increasingly sophisticated in their attacks, and it is well past time to invest in a data management or information security solution," says Dingeldein. The implementation of policies to increase oversight of data and information security " such as the General Data Protection Act (GDPR), also pose serious hazard to small businesses who risk losing money, on top of any potential hacks, if they do not protect their data correctly."
Capterra's survey findings also identifies that 59 percent of respondents are currently using cloud computing for their business, indicating that companies using the technology are seeking more agile and scalable information storing and transaction performing capabilities. For businesses who have yet to implement cloud strategies into their technology objectives, Capterra advises to watch for the following indicators as a sign of the times to transition to a cloud solution: budget for maintaining systems in-house is increasing beyond what has been normal in previous years; more time is spent waiting for data to populate than using it for work; the existing data filing system has outgrown what its in-house solution can handle.
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