While the big corporations tend to make headlines when their data are breached, it’s the small and medium-sized companies that are most frequently chosen as victims by savvy cybercriminals. In fact, today’s small business landscape is plagued by cyberattacks, with 61% of small or medium-sized businesses (SMBs) experiencing an attack last year. Putting that into perspective — a full 43% of data breaches were directed at the SMB community — almost half of all cyberattacks and the primary target for cybercriminals.
Global lockdowns, supply chain breakdowns, and low employment levels have all combined to move the manufacturing industry into its current phase. With an emphasis on resiliency, sustainability, agility, and above all, employee health and safety, manufacturers must adopt new procedures and strategies, or risk being displaced by more agile competitors.
In our post-pandemic world, consumers have learned to live, work, and shop more locally. In fact, 56% of shoppers are looking to local stores for their needs, moving away from malls and toward more hyper-local choices. In the coming year, 75% of consumers plan to shop locally for their goods and services. For that reason, local marketing is a key component of any business strategy. Local marketing is a way for your business to target people who live within a specific range surrounding your business. It helps to improve sales and conversion rates by targeting nearby customers through digital marketing.
With the economy still reeling from the aftermath of the coronavirus pandemic, manufacturers are skeptical about being able to maintain a profit moving forward. In fact, 75% of manufacturers claim that inflation is worse now than six months ago and over half note that it is becoming even harder to stay competitive and continue to turn a profit.
Back in 2019, over one hundred nursing homes were without health data and payroll information due to a cyberattack after a ransomware attack where cybercriminals demanded $14 million in payouts to return full use of affected systems to the facilities. Everything from telephone services, electronic billing and payroll management to the ordering of medications and management of electronic health records (EHRs) was affected, leaving the nursing homes — and their patients and staff — at a great disadvantage.
A new generation of healthcare consumers are demanding better care. Not only do they want access to high quality care, but they also want a more personalized health care experience. This importance of personalized engagement has only increased during the coronavirus pandemic, a trend that outlines the changing face of healthcare and the eagerness of consumers to engage with caregivers in a more open and positive way. Research from McKinsey shows the following trends are guiding personalization demands in the healthcare industry:
In the world of manufacturing, distribution, shipping, and other related industries, supply chain risk management is a key operational goal. Focusing on supply chain risk management reduces the chances that a disruption will have a direct impact on a company's productivity — and profitability. It allows a company to maintain business continuity, either providing goods and services to other businesses or consumers, by reducing the possibility of errors, malicious incursions, and many other problematic issues.
This year, manufacturing organizations continue to rebuild their workforce — and their profitability — by focusing on the areas where the pandemic impacted them in the most profound ways. Some manufacturers will focus on readjusting supply chain networks to better serve evolving consumer demands. Others will target the rebuilding of revenue streams. No matter how they pursue the process of rebuilding, manufacturing organizations can create a bigger impact and move more quickly toward goals with the help of a partner that understands digital initiatives.
The news is full of disasters in recent years. From the ongoing pandemic to natural disasters like floods, fires, and hurricanes, not to mention the threat of data breaches are affecting small businesses across the nation.