In a recent survey, Microsoft reported that 90 percent of consumers said they “might take their business elsewhere instead of working with companies with outdated technology.” This makes technological upgrades a business necessity for even small businesses. For 2016, the three top technology upgrades recommended are to upgrade payment processors, upgrade cloud data storage of data, and upgrade website search engine optimization.
1. Due to the October 1, 2015 fraud liability change, if your customers are handing you a credit card with an updated microchip, you’re required to run it on the latest EMV POS systems or be held liable for any theft and damages related to the transaction. Software that works with new processing systems, like Sage, is recommended in the current retail landscape where “EMV capability is the new norm.”
2. After upgrading payment systems, small businesses may want to look at upgrading data storage from hard drives and USB flash drives to cloud-based systems like Carbonite to automatically back up and sync all of the company data.
3. Small businesses should also focus on upgrading their websites for the latest search engine algorithms to allow current and future customers to more easily find them online.
Source: Switching To New EMV Cards’ Processing Systems A Must For Businesses. Retrieved from http://www.nfib.com/article/upgrading-payment-systems-said-to-be-top-tech-priority-for-small-businesses-72288/
If you have any questions about starting or managing your small business or else upgrading to the new technology, please contact our office today. As a CPA, Accredited Small Business Consultant, and Advanced Certified QuickBooks ProAdvisor, Linda specializes in working with small business owners and provides tax, accounting, financial analysis, management, planning, and small business advisory services. She can help you to start, manage, and grow a successful small business. Call her today at (727) 391-7373 or else visit her on the web at http://www.LStortzCPA.com and also http://www.LindaStortzCPA.com.