Get Your Beauty Sleep With Nightlight In Windows 10

 

Get Your Beauty Sleep With Nightlight 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.

If you, like so many others, use your computer late at night, before (or even in) bed, then you may have found that it throws off your sleep cycle. Despite being tired when you got into bed, after staring at the backlit screen for a few hours, you’re not as tired anymore.

This has to do with melatonin – a chemical produced by your body when your eyes see that it’s dark and determine its time for sleep. Looking at a bright screen throws off this natural process, and the lack of melatonin makes it harder to get to sleep.

Did you know you can reduce this effect with Nightlight?

Nightlight is a feature that lowers the brightness of the screen and changes the color spectrum in order to limit the interruption to melatonin production. To turn it on, find it under Settings, and set a schedule for it to follow based on your preferences for late-night computing.

We hope you enjoyed our series on Windows 10…searching for a new IT company?  Give us a call at {phone} or send us an email to {email}.

Ready for Disaster? Tips for Creating a Smart Business Continuity Plan

 

Mitigate Disaster with a Comprehensive Business Continuity Plan

 

When you create a detailed business continuity plan, you can keep disaster from disrupting your operations. See how to get started here.  

 

 

When disaster strikes, disruptions to your operations could negatively impact your construction projects, pushing them past the deadline and over budget. And it is not just natural disasters you have to worry about, either.

 

Everything from serious IT problems to the loss of important team members has the potential to wipe out your operations. That is, unless you have a smart business continuity plan in place. With this plan, you can keep your operations moving along like normal, helping ensure the success of all your construction projects.

 

Importance of Having a Business Continuity Plan

 

In optimal conditions, there’s no doubt everything runs like clockwork, as your team works hard to complete their individual tasks. If anyone fails to come through, however, everything could grind to a halt. Furthermore, without writing it out, only a few in your company may know just what everyone should be working on and how it all comes together.

 

Therefore, you need a business continuity plan just in case serious disruptions leave you without certain team members, equipment, or workspaces. In many ways, this plan is a big-picture overview of everything that goes on at your construction firm. It also identifies all the workarounds you can use when faced with disruptions caused by different disaster scenarios.

 

Above all, your plan should detail who is in charge of each department in the absence of key players and all the ways they can keep moving forward in their daily duties. With that approach, you can keep major disruptions from throwing your workforce off track or preventing them from completing their tasks.

 

How to Create a Continuity Plan for Your Business

 

Without knowing what is on the horizon, there is really no time to waste in creating your business continuity plan. Thankfully, you can easily approach this process by using the following steps.

 

Take a Complete Inventory of Your Company

 

Taking inventory of your workforce, contacts, and equipment is the very first thing you must do to create your plan. You will likely need to take a big step back from your construction company to complete this step.

 

To start, create a list of all your employees, noting the major players in each department. Add their contact information in full, so you can find how to reach out at a glance. Then, create similar records of your material suppliers, clients, and other important contacts.

 

Next, you can move onto creating a complete inventory of all the equipment used on each of your job sites. Make sure to include their make, model, and serial numbers, so you can find parts or file claims as needed to keep things moving along. In addition, note any local parts suppliers, repair techs, and equipment dealers for those brands to complete your log.

 

Outline Existing Processes and Highlight Critical Areas

 

With the completion of the inventory step, you will need to look at your operations. Go from department to department, look at the duties of each employee and how they support other departments. Along the way, busy yourself with creating flowcharts for all the distinct processes used to run your construction company.

 

Throughout this process, identify your key operations and the major players you depend on to get the work done. Then, see who can fill in if those individuals cannot make it work. Also, add ways employees can workaround specific disruptions and continue to fulfill their core duties.

 

Identify Temporary Workstations and Keep Them Updated

 

If your core employees cannot get to their normal workstations, everything should not grind to a halt. But it will unless you have already identified temporary workstations and made the effort to keep them updated.

 

The workstations should have all the equipment and software normally used by the team and be completely ready for their use. So, create an update schedule and make sure the temporary workstations are included whenever you complete a major equipment or software upgrade. Furthermore, ensure your employees know about the existence of these workstations and how to access them.

 

Create Your Plan for Maintaining Critical Operations

 

With your understanding of your core operations, you can create a plan for each of your employees, helping them mitigate the effects of the disaster. Working across all departments, you will need to indicate who is responsible for getting each system back online and up to their normal operating levels. They should have a clear direction on the steps to take and the tools they will need to complete the assigned tasks.

 

Your plan should cover not only the construction tasks you are responsible for in that moment, but also all the administrative ones. You need to let your payroll department know how to proceed, for example, to ensure they can continue to process payments for all your employees.

 

Once you are finished creating your business continuity plan, store the main copy in a secure location and provide each department with their own copies.

 

Don’t Wait — Create Your Business Continuity Plan Today

 

So, now that you know what to do, there’s really no reason to wait. Start building your business continuity plan today to protect your operations from disaster. Otherwise, your employees could be left without the knowledge needed to keep your business afloat until everything returns to normal.

Worried About Moving To The Cloud?

 

If you knew what the cloud could do for you, you probably wouldn’t be so hesitant about migration. It’s understandable; the prospect of moving all your data to offsite cloud infrastructure can be daunting, but it doesn’t have to be.

 

Since its introduction to the business world, the cloud has quickly established itself as one of the most integral technologies in modern society. In the private and professional worlds, the cloud has delivered a range of benefits, from convenient access to data to cost-savings in hardware reduction.

 

That’s why so many of our accounting clients and CPAs are moving to the cloud. No matter what you think, the cloud has changed the nature of IT, and business as a whole. That’s why you need to understand it.

 

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

 

  • What Is The Cloud?
  • Why Would You Be Hesitant To Move To The Cloud?
  • What Is Migration?
  • Does The Cloud Support The Accounting Software I Already Use?
  • Is It Difficult To Migrate To The Cloud?

 

What Is The Cloud?

 

In a nutshell, the cloud is a network of technologies that allows access to computing resources, such as storage, processing power, and more. That’s where the data is – in these data centers all around the world. Which data center your data is in depends on what cloud service provider you’re working with.

 

Why should you use the cloud?

 

For the same reasons that thousands of other businesses around the world have already adopted cloud computing.

 

  • Computing Power
    The cloud has the ability to activate tens of thousands of CPUs. This unparalleled power can quickly perform deep analytics of your data, and process nearly any ad-hoc queries that you require.
  • Reliable Costs
    The cloud services subscription model offers the strategic advantage of low-cost, low-risk opt-in combined with a simple, predictable monthly fee.
  • Easy Scalability
    Cloud services have the unique strategic characteristic of being able to stretch or shrink to suit your current level of demand. This is especially useful for businesses of scale or companies that go through seasons of activity.
  • Real-Time Collaboration
    With cloud technology, your staff doesn’t have to wait for each other to be done with their part of the document or project in order to tackle their own aspect. They can all work on the same project at the same time to maximize productivity.
  • Remote Work Capability
    This cloud feature allows you and your employees to work remotely as need be, which will give your business members the flexibility they desire to have a more balanced home/work life.

 

Why Would You Be Hesitant To Move To The Cloud?

 

There is any number of concerns related to cloud migration…
During the transition, you could lose some key files for good with no backup or redundancies to replace it.
The migration, already expensive, takes longer than you expected and adds what you thought was avoidable downtime to your staff’s work life.
Once it finally gets installed and launched, you find out the platform is overly complicated and difficult to learn, leading to more downtime for your staff.
Does that mean you should forget about the cloud and what it could do for you?
Of course not.
It just means you have to plan your migration carefully…

 

What Is Migration?

 

Migration is the process of moving some or all of your data and applications into the cloud (that is, to a data center or a cloud-based infrastructure provided by a cloud service provider such as Amazon Web Services or Microsoft Azure). You can choose to move some of your applications, or your total organizational infrastructure where all of your computing, software, storage, and platform services are transferred to the cloud for any time, anywhere access.

 

Cloud migration helps you achieve real-time and updated performance and efficiency. However, a cloud migration requires careful planning and implementation to ensure the cloud solution is compatible with your organizational requirements.

 

Does The Cloud Support The Accounting Software I Already Use?

 

Short answer? Almost certainly.

 

The cloud is so popular today that so many specialized applications have been fully integrated with it. Moving your customized applications to the cloud simply means that you’re running them over the Internet rather than on your own computers or servers. Everything will work just as it does and look the same as it did when it ran from your computers or server.

 

Is It Difficult To Migrate To The Cloud?

 

Migration can be a time-consuming process, but there are very few risks if it is approached with the right plan. Were you to consider migrating independently, you would want to follow these 5 steps:

 

  1. Evaluate your infrastructure.
    Do you plan on moving completely to the cloud, or maintaining a hybrid environment?
    Some businesses don’t both to migrate all their server-side architecture to the cloud – regardless of whether you do or not, you have to take stock of your servers, and associated software, to ensure it is all compatible with the new cloud environment you are planning.
  2. Plan carefully.
    Be sure to specifically lay out how you plan to virtualize your back end. This will largely depend on your size…

    1. Small businesses – It would make sense to leave certain aspects like email and apps on-site, especially if they don’t require too much storage.
    2. Larger businesses – For your line of business apps and dozens of accounts associated with your email client, you can likely afford the cloud storage needed to host these aspects offsite.
  3. Determine your budget before – not after.
    The best way to figure out which cloud service you want to go with is to know how much you can spend. The price tag will help you sort out options.
    And don’t worry, a small budget won’t limit your options too much. A key benefit of the cloud is its scalability. In most cases, you can start small on a great cloud service, and scale-up and pay more later as you need it.
  4. Will you be secure?
    Depending on the industry in which you operate, you may have more pressing security concerns than other businesses.
    In order to maintain data security, or even to comply with certain regulations, you may need to keep some of your data on-site.
    Keep this priority in mind when determining whether you need a hybrid cloud environment or not. With a combination of onsite storage for secure data and a cloud platform for everything else, you can get the best of both worlds.
  5. Do you need help?
    Lastly, before you start, you should figure out if you can handle the migration on your own.
    There’s no shame in needing help. Especially when it’s a matter of migrating all your apps, data and other IT assets to a totally new environment.
    However, if you have the time, knowledge and skills to handle it on your own, that will certainly be more cost-effective. But don’t forget – better safe (and a little more expensive) than sorry.

 

Although it’s possible you could manage a cloud migration on your own, it’s not recommended. More and more of the accountants and CPAs we work with are having us move power apps and data into the cloud. Why? Because as you can see, the business case is compelling. Using the cloud increases agility, scalability, accessibility, security and provides a competitive advantage.

Will Improving Online Reviews Boost Your Website Engagement?

 

Are your online reviews killing your website traffic? It’s true — many customers won’t click if they see your reviews are less-than-favorable.  

 

 

When is the last time you felt strongly enough about a product or service to leave an online review? While some people do it as a matter of course for every restaurant, doctor’s office and retail establishment they visit, most people only take the time to review something when they were either extremely pleased with the service or over-the-top mad about their experience. Unfortunately, this can result in some pretty painful online reviews, but does it really impact the traffic to your website — and ultimately your business revenue? You might be surprised to learn that more than 95% of people aged 18-34 read reviews for local businesses before making a decision and 86% of all consumers do the same. Still think reviews don’t matter?!?

 

Improving Engagement with Positive Feedback

When customers leave your business, it can be challenging to know if they’re satisfied with their goods and services. It may not be until you read an online review that you find the uber-polite professional who left your office with a smile is now posting to all their friends on social media about the horrid experience that they had. In general, people are not fans of direct conflict and may leave their poor feedback in a very visible and damaging way for your business — through online reviews. Yelp, Google and many other sites provide an easy way to aggregate both positive and negative comments about your business, all of which can be visible from within a Google search of your business. Google adores reviews and according to Moz data, their search algorithm could be impacted by up to 9% by consumer reviews. Google wants to present the most trusted and relevant search results and one of the best ways to do that is to listen to the audience: your consumers.

 

Offsetting the Damage from Negative Reviews

As you can imagine, if Google takes up nearly 10% of its algorithm to focus on your reviews, a few poor reviews can drop you significantly lower in the all-important search engine results page. Reviews are a vital part of your SEO strategy, and it’s challenging to bounce back from negative reviews in the past. One of the things new customers are looking for is the responsiveness of the business to this type of feedback. If you watch your main review sites carefully and audit for positive and negative reviews, you can offer timely feedback that shows you recognize there are issues and you are taking steps to solve them in the future. This can help turn a negative review into a positive, encouraging new customers to take a chance and click through to your website.

 

Driving Positive Reviews is a Critical Component in Your Digital Marketing Strategy

 

Did you know that a Harvard study shows that a one-star increase on Yelp can lead to a 5-9% increase in sales? That’s what you call a direct correlation, and it makes reviews fully relevant and worth working for. Fortunately, those same customers who are ready to spout off about a negative experience are also surprisingly willing to post a positive review — but only if you ask. Up to 68% of consumers will take the time to review your product or service, and all you have to do is ask! Your marketing strategy should include a simple tactic that some of the best businesses in the world use (think Amazon): send a quick followup note via email requesting that customers leave a review on your preferred platform. When you flood the web with positive reviews, your business is more likely to rank higher and receive more high-quality traffic than a competitor who is not focused on improving their online reputation.

 

The moral of the story is that reputation still matters, even in a world where digital rules the day. In decades past, word of mouth reputation was what needed to be protected and that truly hasn’t changed as we edge into the future. Protecting the online reputation of your business is relatively straightforward and that quick automated email after a sale may be your very best selling tool — and the least expensive marketing tactic that you deploy!

The Price of Getting Hacked

 

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

 

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

 

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

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?

 

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:

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