Category: Blog

The Price of Getting Hacked

Posted on by Elevate Services Group

 

Depending on the scope of the attack, the cost of getting hacked can be in the hundreds of thousands or more. Here’s what you need to know. 

 

 

When it comes to cyberattacks, all too often the bad guys win. Hackers have targeted local governments, airports, banks, and businesses, stealing usernames, passwords, and sensitive private data. While they may sell this information on the black market, they often hold it for ransom. With no other way to retrieve the stolen data, victims are forced to buy back their belongings while the thief vanishes into anonymity. Here is a look into the true price of getting hacked and what you can do to protect yourself.

 

Lake City, Florida mayor Stephen Witt announced that the city would pay hackers $460,000 to recover stolen data. The thieves seized control of major email servers, bringing the city’s operations to a grinding halt. Witt claimed that cyber insurance would cover all but $10,000 of the ransom, though it’s uncertain whether the city met the policy’s criteria for protection.

 

Ransomware: An Alarming Trend

 

Ransomware attacks are on the rise, and victims are paying exorbitant sums to regain their data. Three attacks occurred in April 2019 alone, hitting Tallahassee, Augusta, and the Cleveland Hopkins International Airport. The ransomware forced operations to close, with the Tallahassee attack costing the city nearly a half-million. Hackers frequently target municipalities and government organizations knowing the high value of the stolen data and its importance in operations. In many cases, the data isn’t exactly stolen, but encrypted to prevent access. After the ransom is paid, the hackers unlock the data, or so they promise.

 

Research conducted by SentinelOne found that only 26% of U.S. companies that fell victim to ransomware and paid the ransom were able to access their files. And even if the hackers honor their end of the deal, they may attack again. In fact, organizations that ponied up the cash were hit again 73% of the time. What’s worse is that some cybersecurity providers are in cahoots with hackers, splitting the ransom between them.

 

MSPs at Risk

 

Managed service providers (MSPs) are often the strongest line of defense against hackers. Unfortunately, hackers know this and have started to attack the software and systems that MSPs use to protect customer data. By infecting these systems with malware, hackers can access account credentials and use them to log in to customer accounts. They can then obtain bank accounts, addresses, phone numbers, credit card numbers, and other private data.

 

How Can MSPs Fight Back?

 

As hackers become more adept, MSPs need to step up their game. Frequent testing of defense systems, backup and recovery plans, and other cybersecurity measures is a must. The National Institute of Standards and Technology (NIST) has published a framework to mitigate cybersecurity risk to assist MSPs in keeping hackers at bay.

 

As is the case in medicine, prevention is the best cure for cyberattacks. Cities, corporations, and businesses must work together with MSPs to reduce their likelihood of being targeted and have multiple plans in place if a breach occurs. By staying proactive, the good guys can make it difficult for hackers to get what they want.

The Top Online Journal Services For CEOs

Posted on by Elevate Services Group

 

How to Choose the Right App for CEO Online Journaling

 

Learn why many business leaders turn to journaling to build their brand and improve their leadership skills and see what features the top applications offer.

 

 

When you want to establish your own personal and professional brand online, using an online journal is an effective way to spread the word about your insights, leadership, business and philosophy. Having the right tool to help you get your message across to readers is an important decision.

 

Other CEOs use journals to fine-tune their skills, reflect on their days and improve their leadership skills.

 

“Setting aside as little as 10 minutes a day to record your thoughts stimulates reflection critical to making sense of the fast-moving world around you,” notes a recent Strategy and Business article. “Journaling engages the analytical, rational functions of the brain, which gives the more creative parts of your cranium space and time to work their magic.”

 

Below are the top online journal services that CEOs can use to build a better online persona or simply track their thoughts and perspectives.

 

What Features Should I Look For in a Journaling App?

 

The most effective apps are those that offer features that make it easier to write and publish. Some of the most common features among the top apps are:

 

  • Easy interface. You want to be able to focus on writing, so you need a minimalist interface that lets you focus your thoughts and write well. The app you choose should also be easy to use, with a limited number of clicks or taps needed to add an entry.
  • Exporting. You want to choose a product that allows for exporting into formats such as PDF, RTF or common word processing extensions that allow you to use the content wherever you want.
  • Syncing. Keep your journal synchronized across your devices with an app that has synchronizing capabilities.
  • Reminders. Gentle automated nudges to enter your thoughts are a good way to maintain the habit.
  • Visual support. You may want to add other elements to your journal, including photos, videos and graphics.

 

What Are the Top Online Journal Services for CEOs?

 

You have many choices when it comes to journaling services. Here are a few of the top options:

 

  • Day One. Automatically add metadata such as date, location, time and weather, synchronize your entries across devices, and use a dark mode if working in low light. It also uses IFTTT (“if this then that”), a free web-based service to automate the creation of entries on multiple apps.
  • Diario. A great choice when you want to add lots of images. You can add folders, tags, dates, locations and other filters.
  • Diary. A simple interface makes Diary popular for shorter entries, which can be shared easily with friends and followers on Facebook, Twitter and other social media platforms or via email. Provides cloud storage and reminders, too.
  • Journal. An intuitive interface and clean layout highlight this product. Synchronize with Google Maps to add location metadata and street views. Export entries to file types suitable for printing. Security features include Touch ID, Face ID and PIN protection and automatic backups to Google Drive.
  • LiveJournal. One of the oldest journaling apps dating to 1999, LiveJournal lets you share and read others’ journal entries while writing your own.
  • Momento. Connect Momento to social media apps like Facebook, Instagram, Twitter and YouTube and you can automatically add social activity to your journal.
  • Penzu. Security is the name of the game with Penzu, which offers double password protection and 256-bit encryption, along with customizable backgrounds and fonts.

 

Whether for branding or reflection, the right journaling tool can improve your professional outcomes.

Protect Yourself From Ransomware In Windows 10

Posted on by Elevate Services Group

 

Protect Yourself From Ransomware In Windows 10

You may have been using Windows 10 for some time now, but it’s likely that you haven’t mastered all of its features just yet.

You’ve heard about ransomware, right?

It’s a type of malware that encrypts your data so you can’t access it and holds it for ransom. Usually, this malware makes its way into your systems by posing as a file or program you think you want. Even if you don’t end up having to pay the ransom, it’s a lot of trouble that you should try to avoid.

Did you know that you can enable Controlled Folder Access in Windows 10 to protect against ransomware?

Enabling Controlled Folder Access protects the default Windows data storage locations in your profile from access by unknown applications. When compared to identified and allowed programs, if the malware is determined to be unsafe, you’ll get a pop-up letting you know it was denied access to your storage.

The 2 Lessons You Need To Learn From The Capital One Breach

Posted on by Elevate Services Group

Last month, Capital One went public with the news that they experienced a data breach, leaking the private info of more than 100 million people. Do you know what you should learn from this cybersecurity disaster?

 

News of major data breaches is becoming more and more common. Or, at least, it feels that way, right?

There was the Dunkin Donuts credential stuffing attack near the end of last year, the Toyota data breach in March, the Phishy Wirpo breach back in April, the list goes on and on.

Last month, another major data breach made headlines – Capital One was penetrated, and the personal information included in credit card applications of 100 million Americans and up to 6 million Canadians was leaked. The culprit, 33-year-old Paige Thomson, accessed the data from the Amazon side of Capital One’s AWS cloud configuration.

Before considering how this occurred, there’s a more important question to ask: why does this keep happening?

The simple answer?

Because very few businesses are learning how these breaches happen and what they should be doing to prevent it from happening to them. The fact is that cybercriminals can keep relying on the same old tactics to penetrate business’ systems because they keep working.

That’s why every time a breach like this occurs, it is vitally important that you find out how it happened and determine whether a similar vulnerability exists in your organization.

How Did The Capital One Data Breach Occur?

In this case, it all came down to firewall management.

The firewall, which should have provided protection between Capital One and AWS (where Thompson was at one point an employee), wasn’t configured properly. Thompson exploited this web application firewall, and subsequently accessed and shared 100 of millions of private records.

It’s really that simple. If the firewall had been configured properly, none of this would have happened.

In case you’re unclear, let’s cover the basics involved in this breach – what is a firewall?

Your firewall is your first line of defense for keeping your information safe. A firewall is a particular type of solution that maintains the security of your network. It blocks unauthorized users from gaining access to your data.

Firewalls are deployed via hardware, software, or a combination of the two. Many businesses also employ data encryption for an extra layer of security.

A firewall inspects and filters incoming and outgoing data in the following ways:

  • With Packet Filtering that filters incoming and outgoing data and accepts or rejects it depending on your predefined rules.
  • Via an Application Gateway that applies security to applications like Telnet (a software program that can access remote computers and terminals over the Internet, or a TCP/IP computer network) and File Transfer Protocol Servers.
  • By using a Circuit-Level Gateway when a connection such as a Transmission Control Protocol is made, and small pieces called packets are transported.
  • With Proxy Servers: Proxy servers mask your true network address and capture every message that enters or leaves your network.
  • Using Stateful Inspection or Dynamic Packet Filtering to compare a packet’s critical data parts. These are compared to a trusted information database to decide if the information is authorized.

Next-Generation Firewalls perform an in-depth inspection of state and active directories, virtual private networks and packet filtering. They also come with additional features like active directory integration support, SSH, and SSL inspection, as well as malware reputation-based filtering.

Firewalls provide:

  • The ability to identify undesirable encrypted applications.
  • Prevention against network intrusions.
  • Intelligence in improving blocking decisions
  • Intrusion prevention.
  • A baseline for deviations from normal application behaviors.

How Can You Prevent This From Happening To You?

The lesson you should be learning from this breach is two-fold:

  1. Check Your Firewalls
    This is the most direct step you need to take. Don’t assume your firewall is configured correctly, or you may end up the same as Capital One.
    Have your IT support double-check and test your firewall configurations. Have a third-party double-check what your primary IT support is doing so that these steps are verified.

  2. Implement Processes To Prevent Similar Vulnerabilities

    Checking your firewall configuration is the most obvious lesson to learn here – so what comes after that? You need to develop a culture of cybersecurity best practices to eliminate vulnerabilities like this in every aspect of your defense.
    Your firewall may be properly configured, but what about your antivirus?
    The point is that you can’t make any assumptions when it comes to your cybersecurity. 

Now, that all may make sense to you, but the prospect of evaluating your cybersecurity from beginning to end may be a little daunting. Don’t worry – you don’t need to do it on your own.

The Elevate Services Group team is available to assist. We have extensive experience in helping organizations like yours to enhance their cybersecurity. We have 350 proven best practices that we implement to keep our clients protected from precisely this type of breach.

AI Is Revolutionizing The Accounting Industry – Do You Understand How To Harness It?

Posted on by Elevate Services Group

 

The cloud and Artificial Intelligence are changing the accounting industry, starting with its most fundamental software. Do you know how to make the most of AI-enabled applications?

According to an MIT-Boston Consulting Group survey, a vast majority (more than 80%) of surveyed executives report that they believe Artificial Intelligence to provide a competitive advantage, and nearly the same amount believe it will increase their company’s productivity.

Over the past few years, developments and leaps in the furthering of machine-learning have led to the integration of Artificial Intelligence into products you already use or future versions of products you use.

You need to understand why Artificial Intelligence is important, because it’s going to change the way you work whether you want it to or not. Regardless of whether Artificial Intelligence is truly beneficial, with that kind of popularity among those in charge, it’s not going anywhere.

In this article, we’ll answer the following questions:

  • What Is Artificial Intelligence?
  • Why Should I Care About Artificial Intelligence?
  • 3 Advantages Artificial Intelligence Can Deliver To Your Accounting Firm

What Is Artificial Intelligence?

Artificial Intelligence is a technology that allows computers to correctly make decisions that would otherwise be left up to users.

 

The two primary popular forms this has taken in the consumer and business worlds to date include:

 

  1. Machine-learning, which exponentially improves the frequency with which it makes correct decisions by accumulating data and repeating processes (i.e., it “learns” by rote)
  2. Speech-based technology that can understand spoken word in multiple languages, allowing it to execute tasks by verbal input (e.g. Siri, Alexa, Google Assistant)

 

That’s all well and good, but the real question is…

 

Why Should I Care About Artificial Intelligence?

In a nutshell, for the same reason it matters to any industry in which the technology can be introduced and applied: automation.

 

When it comes to basic tasks that fall relatively simply into an algorithm (that is, perform a set action when given a specific input, or, “if a then b, if b then c” etc.), machine-learning allows an Artificial Intelligence to eventually perform those tasks as accurately as a human counterpart would, if not more accurately.

 

3 Advantages Artificial Intelligence Can Deliver To Your Accounting Firm

Now that we’ve covered the basics, let’s examine the real, applicable effects that the introduction of Artificial Intelligence will have on the accounting industry and firms like yours:

 

  1. Artificial Intelligence Enabled Software

    Many of the line-of-business apps you already rely on offer Artificial Intelligence capabilities, primarily in terms of automating simple tasks.
    OneUp, QuickBooks Online, SageOne, and Xero are all prime examples – however, you should note that the effectivity of these features can vary.
    According to an Atherton Research study, the testing of the automation capabilities of these four solutions broke down as follows after five months of use when ranked against the Accounting Automation Index:

    • OneUp – 95%
    • QuickBooks Online – 77%
    • Xero – 38%
    • SageOne – 30%

  2. Artificial Intelligence-Based Security

    One of the more threatening aspects of cybercrime is that criminals can adapt their methods to ensure effectivity. Most hackers change up their attack method for each target, which limits the effectiveness of defenses based on known files and attacks. This means that businesses whose security focuses on signatures and perimeter defenses need to reevaluate their approach to cybersecurity.

 

This is where Artificial Intelligence comes in. Security based on advanced algorithms that can adapt and learn creates a system that can become familiar with the normal patterns associated with each user and device, detecting anomalies in those patterns quickly.

 

For example, U.K.-based company Darktrace has developed technology based on the human immune system – detecting and responding to foreign threats without compromising your business’ key operations and functions.

 

Threats that would normally be able to hide their presence are instead found and neutralized, buying IT personnel time to get ahead of the situation. Like a digital antibody, the program can slow down or even stop compromised connections or devices within a network.

 

  1. Analysis Of Large Data Sets

 

Artificial Intelligence technology is also quite capable of crunching the numbers, and quite a bit better at it than their human counterparts when there are a lot of numbers to crunch.
For example, professional services company to interpret thousands of contracts and deeds, extracting key terms, analyzing risk, and compiling all the information for review. This kind of capability will drastically reduce the time it would take to perform the work otherwise.

 

Now, all of this may sound a little scary to you – after all, if machines can handle all of that, what would we need accountants for?

 

Not to worry – although machines are getting better and better at handling the mundane, human counterparts will still be needed for review, in advisory capacities, and otherwise.

 

Like this article? Check out the following blogs to learn more:

A World of Possibilities for Law Students and Young Lawyers

 

Get More Out Of The Clipboard In Windows 10

Posted on by Elevate Services Group

 

Get More Out Of The Clipboard In Windows 10

You may have been using Windows 10 for some time now, but it’s likely that you haven’t mastered all of its features just yet.

Copy/Paste was a revolutionary feature when it came out years ago. However, operating systems have been slow to adopt the next logical step in its evolution – the clipboard.

Did you know that you can save 10 or more items to your clipboard on a long-term basis?

It’s simple – hit the Windows key + V to bring up your clipboard history. It’ll show you the many things you’ve Copy/Pasted, any of which you can choose to delete (for security purposes, if it were, say, a password) or pin for later use.

That way, you don’t have to always go back and Copy/Paste that same info from the same note or .doc file – you can have it ready for use on your clipboard for as long as you need it.

Enjoying our Windows 10 Tips and Tricks emails over the past few weeks?

Will Your Business Be Impacted by the End of Microsoft Exchange 2010?

Posted on by Elevate Services Group

 

 

Will Your Business Be Impacted by the End of Microsoft Exchange 2010?

 

Exchange 2010 has been a great program for businesses for many years, but its time is now winding down. Find out what this means for your business. 

 

All good things must come to an end. For Microsoft Exchange 2010, that end will happen at a date in the very near future: January 14, 2020. Migrating away from an integral piece of business software can take some time, so if you’re not already planning this shift for your business it’s time to get started! While Microsoft is encouraging people to shift away from the perpetual license option and go towards Office 365, you can also move to Microsoft Exchange 2016 if you don’t want to move to the cloud. At the end of a product’s lifecycle, the manufacturer determines that the vast majority of individuals and businesses have already moved on to a new platform, and they stop providing new features, security and bug fixes, time zone updates and support. In today’s world, your email server is your first line of defense against malware and ransomware — making the lack of security updates a key reason for taking the time to upgrade before time runs out on your support.

 

What Does the End of a Software Lifecycle Really Mean?

 

As with most software companies, there are several stages in the lifecycle of Microsoft Exchange and other Microsoft Office products. They are generally defined as mainstream support, extended support and service pack support. Mainstream support is generally guaranteed for a minimum of five years after product ships and is valid while the vast majority of people are still actively using the platform. Extended support generally lasts another five years, and includes a more limited support infrastructure. There are limitations on the work that the software teams are willing to do on products in this stage of life: non-security hotfixes are not released and there are no new functionalities added to the platform. While the platform is still considered secure and supported, this stage is an indication that it’s time to start your search for what comes next. In the final stage, you only receive critical security updates and little else in terms of support.

 

Why It’s Time to Move On . . . Quickly

 

Exchange 2010 doesn’t support an in-place upgrade, meaning you’ll need to find the time and IT staff hours to migrate completely — setting up new servers and mailboxes if you decide to go the route of another perpetual license option. Moving to Office 365 may be a good option for your business, but there is still a bit of setup required before you can make this move. With only a few months left before security updates are no longer provided, many organizations are scrambling to be sure they beat the deadline and maintain a platform that is fully protected and receives regular security patches. Email is a mission-critical application for your business, making it crucial to ensure that you’ve made a decision and have a game plan in place long before January 2020.

 

Upgrade Options Available

 

There are a few different ways to get out of the woods if you’re still running Exchange 2010. It may seem intuitive to simply upgrade to Exchange 2013, but that product has already completed Phase I and II of its lifecycle and is no longer receiving cumulative updates. Exchange Server 2016 is a better option if you prefer to stick with perpetual licensing models, but the product is already several years old. Updating to the most recent version of Exchange 2019, which was released in late 2018, seems like the best option — but it’s important to note that you must first upgrade to 2016 before making the jump to 2019 versions. Moving to Exchange Server 365 may provide a range of benefits for your organization such as better integration, improved security and continuous updates but it’s also important to note that there are additional decisions to be made around the other aspects of Office online.

 

Finding the right solution for your business does take time and analysis, but it’s vital that you take the first steps soon to reduce the risk to your organization. Critical patches for Microsoft products are released on a fairly regular basis, and your business can be opened to cyberattackers if you miss a single update — much less several security updates. Completing your migration will provide your technology team with peace of mind knowing that your most important channel of business communication is fully protected by an up-to-date Exchange server.

Staffing In The Digital Age

Posted on by Elevate Services Group

 

 

Digital Disruption Forces Businesses to Rethink Staffing Strategy

 

See how rapid technological advances are revolutionizing how companies approach the structure of their workforces and new strategies for employee recruitment.

 

The remarkable pace of digital transformation has changed how businesses operate at every level. Companies today need to be nimble, taking a close look at emerging technologies, choosing the right investments and continuing to thrive in the face of constant disruption.

 

That means reexamining business models, processes used and, perhaps most critically, the nature of work and who (or what) does it.

 

Understanding staffing in the digital age means taking a strategic approach to personnel.

 

What Staffing Model Works in the Digital Age?

 

Traditional labor models are not always the right choice in the digital era. Major initiatives are conceived, launched and executed more quickly than ever, requiring companies to act nimbly. Leaders are shifting towards a model that’s both strategic and flexible.

 

The modern staffing model may include a mix of the following:

 

  • Permanent employees who focus on the most critical initiatives
  • Skilled contract employees that support the work, complementing permanent employees and providing talent not available internally
  • Specialists that provide additional capabilities and are available on an as-needed basis to complete high-value projects

 

This approach allows companies to be responsive, provide the right resources for time-sensitive and mission-critical work, and make key hires.

 

As a recent Deloitte report notes, HR offices are grappling with how to address personnel management in a digital age. “HR’s concerns will soon be revolving around the changing nature of the organization and employees becoming increasingly digital,” the report states.

 

Organizations must be mindful of the realities of work, including:

 

  • Digital trends that are pervasive, including cloud computing, social media, mobile connectedness, cybersecurity and data analytics
  • A multigenerational workforce that includes several generations whose entire lives have been digital in the same workplace with older employees whose technical comfort and skills may be lacking
  • Hyperconnected employees looking to blur the lines between work and personal lives
  • An emerging group of digitally skilled employees
  • Business models that are challenged by digital disruption and new competitors
  • Employee perceptions that they are the first consumers of and ambassadors for their employers’ brands

 

“HR needs to be more pre-emptive with regard to digital transformation as it plays an important role in shaping the organization’s digital identity,” cites Deloitte. “It is a challenge and a real complexity to plan future capabilities of a workforce in the digital economy.”

 

What Are the Challenges of Staffing in the Digital Age?

 

The greatest challenge is talent. For many highly skilled positions, competition is fierce, with potential employees having considerable leverage. Advanced data analytics, robotic process automation and cloud computing are just three needed areas where demand is high as companies seek to incorporate emerging technologies into business processes.

 

Recruitment is fiercer and requires more creativity than ever before. Companies are using a number of tactics to improve their hiring outcomes, including:

 

  • Pre-Employment Networking. Companies are forging relationships with potential candidates well before there are available openings. A focus on engaging potential talent may include providing insights into the company and its strategic plans, offering informational interviews, social gatherings and regular check-ins with a recruiter. Relationships forged early can lead to faster-hiring processes.
  • Digital Solutions. Digital labor platforms allow for integrated personnel management, connecting the primary HR functions under one roof. With recruitment, hiring, onboarding, training, development and evaluation in the same platform, it allows organizations to be more nimble and cohesive in employee matters. According to a recent McKinsey Global Institute report, using a digital labor platform can increase output by 9 percent, reduce employee costs by 7 percent and add 275 basis points to profit margins.
  • Flexibility. Many employees today expect to have a high level of flexibility in when, where and how they work. Remote employees can use digital technologies and powerful collaboration tools that keep them in contact with colleagues. A digital mindset in the HR office and throughout the organization makes companies more attractive to candidates.
  • Focus on Company Culture. Businesses today need to focus on corporate culture. Why? Because there is more information available about most workplaces. Sites such as Glassdoor provide detailed information about companies, including employee reviews that can paint a clear picture of how an organization treats its workers. “Top performers know their value and are growing more footloose as a result; many are going online to find new opportunities and to evaluate potential employers,” notes McKinsey.

 

Recruiting and retaining employees in the digital age requires employers to think very differently about their workforce. Flexible, creative and strategic approaches allow for better outcomes.

The Rise of MarTech: Navigating the Intersection of Marketing and Technology

Posted on by Elevate Services Group

 

 

The Rise of MarTech: Navigating the Intersection of Marketing and Technology

 

Is your organization struggling with the intersection of marketing and technology? If so, you’re not alone — marketers everywhere are.

 

There is a crisis in boardrooms and offices around the world: who owns marketing technology? Is it the CIO or CTO, who doesn’t always understand how data is utilized by the marketing teams or best practices to provide an exceptional customer experience? Is it the CMO, who is struggling to stay abreast of how all the various tech options fit together — and managing complex projects while staying on top of marketing initiatives? Or are these professionals working to bring their teams together into a new hybrid that is still being defined? Welcome to the rise of MarTech: where marketing and technology intersect. It’s not always a pretty landscape, but many organizations are navigating through this season of change within the business.

 

Marketers Love Their Technology

 

Marketers are generally a creative bunch and are increasingly engaged with the selection of tech, especially as it relates to their specific job functions. Today’s data-driven CMOs are looking for ways to measure their advertising spend, analyze their marketing program results and create timely and relevant messages for their audience. This requires a great deal of integration between the trifecta of communications infrastructure: marketing automation, website CMS (content management systems) and CRM (customer relationship management) solutions. Some smaller organizations are able to utilize a single system for several of these functions, but there is still a level of complexity involved in scoping functionality, acquiring trusted vendors, creating timelines and ultimately approving the user stories and processes. Enter the IT team.

 

IT Teams Want to Retain Control

 

Marketers love their data, but IT teams have historically retained control of everything database-related. This tension is an ongoing one, and one that can cause frustration on both sides of the spectrum. Marketers are constantly driven by a need for change and finding the best possible solution for their business needs while technologists tend to take a more sedate path to find a solution. This can cause marketers to go off the reservation and create an unruly tangle of solutions that not only don’t work well together — they often don’t work at all, and might be a security risk besides! It’s incredibly challenging to keep track of the volume of change in the MarTech world, as new platforms are cropping up on a daily basis. In fact, it’s so convoluted that ChiefMarTech.com puts out an annual supergraphic of what it calls the “MarTech 5000“. The 2019 edition has a note showing that the completely illegible list is now made up of over 7,040 entrants in a range of sections broken down into:

 

  • Advertising & Promotion
  • Content & Experience
  • Social & Relationships
  • Commerce & Sales
  • Data
  • Management

 

Oddly enough, data and management are two of the smallest buckets but ones that likely contain some of the most powerful tools in marketing — or technology.

 

Managing Disruption

 

“Marketers are being asked to do more with less and so they buy into the digital hallucinates that are out there,” according to Former Commonwealth Bank and Foxtel chief marketing officer Andy Lark. There are hundreds of businesses selling little more than “smoke and mirrors” instead of digging deep into the reasons that MarTech can work for the business. This means looking at the core business and marketing functionalities that are needed, a place where IT professionals and marketers can come together as they’re defining requirements instead of waiting for salespeople to come to them. No matter how easy technology salespeople say it is to manage these massive MarTech systems, there are still technical requirements that will end up either back in the hands of your IT department or with marketers needing the ongoing support of external technical staff. Either of these solutions can cause disruption to the business, which is why it’s critical that marketing and technology teams work in lockstep to determine which — if any — new platforms are implemented in the near future.

 

Even adding a simple module to SalesForce, Adobe or Oracle can have unintended consequences, especially when it comes to data privacy and security — a top concern for IT and marketing alike. The recent spate of legislation around privacy reminds senior leadership that this must be kept top of mind and managed actively. That can be difficult if organizations are saddled with a makeshift raft of platforms that float together well as long as the waters are not bumpy. When you need to track the specific actions of individuals through various systems, IT pros and marketers alike will be reminded that sometimes “less is more” when it comes to new systems and integrations.