Contracts form the foundation of any company, from a single-person startup to a major multinational corporation. Businesses are built on contracts, from simple lease and employment agreements to vendor contracts to contracts with customers.

Without a centralized, comprehensive contract management system in place, it’s easy for contracts to fall victim to human error — or even be forgotten entirely, only to resurface when there is a problem. Research indicates that on average, companies lose nearly 10 percent of their revenues due to poor contract management, meaning that for a cash-strapped startup, poor contract management could mean the difference between success and failure.

Why Poor Contract Management Is So Dangerous

The most common reason that startups don’t invest in a contract management platform from day one is cost. When budgets are tight, and it’s possible to manage contracts using makeshift (and highly inefficient) solutions like spreadsheets and shared drives, contract management software feels like a splurge. Investing in contract management by Exari is an upgrade.

Some startups avoid contract management software because they don’t think they need it. Again, when other systems work, no matter how inefficient they are, it’s easy to become complacent.

However, the consequences of not properly managing contracts can be dire, especially for a new company trying to maintain a low overhead. Contracts contain risk, and if you aren’t fully aware of and on top of that risk, your company could lose money. For example, there are compliance aspects to contracts that cannot be overlooked. How can you be certain that all of your contracts are in full compliance and that none contain terms or conditions that will lead to trouble later?

Contract management isn’t only about reducing risk, though. It’s about increasing efficiencies and ensuring that everything in your business is correct and operating as it should. One problem in many small businesses is a lack of consistency across contracting.

When your sales team, for instance, can create their own contracts using templates, or just by changing terms in an existing contract, the potential for error skyrockets. It’s possible that contracts could be executed despite these errors, potentially leading to significant problems down the road.

Simply put, attempting to manually manage your contracts is time-consuming and, ultimately, dangerous. Not only are there risks inherent in the authoring process, without a comprehensive contract management program, there are likely to be slowdowns in the negotiation and approval process as well as potential issues in managing obligations. And when it comes to auditing and reporting, manual process are time-consuming and expensive, and they may not even reveal all of the information you need to make the right strategic decisions for your company.

Worth the Investment  

Because of the risks and time-consuming nature of poor contract management, it only makes sense that startups put contract management at the top of the list, moving it away from the “nice to have” and into the “must have” category. An automated contracting platform saves hundreds of hours of labor and reveals insights that lead to better business management.

By investing in contract management, you regain control over the contracting process, eliminating the risk of rogue contracts that are out of compliance and making it easier for your teams to create contracts that move the company forward.

Ultimately, your contract administration costs will be reduced as well since you can analyze your contracts and identify risks and opportunities more quickly, without tedious and error-prone manual administration. Contract renewals will also be more streamlined and accurate as your company won’t be caught unaware by automatic renewals and rate increases.

Contract management might not be the first thing you think about when you start your business, but it should be. By investing in the right technology right from the start, your growth process will be smoother, and you won’t spend more time and money than necessary on this vital process — or face the consequences of not managing your contracts correctly.

The post Why Contract Management Is Vital to Startup Success appeared first on Tech Web Space.

Cloud computing technologies are ubiquitous in today’s business world, and they’re not just for big, established companies. As a matter of fact, they’re ideally suited to the needs of startups because of their low cost, portability, security, mobility and ease of scalability. Here’s what cloud computing can do for your startup.

You Can Meet Your Tech Needs Cheaply

One of the biggest reasons why so many companies are turning to cloud computing for storage, software and other tech needs is its relatively low cost. As a startup, you may have limited funds to invest in servers, devices and software licenses, and those aren’t even the only costs you face. You’ll also need to find a way to pay for an IT support team, extra office space for the server rack and potential downtime when things go south.

When you use cloud computing solutions, you’ll be unloading the burden of maintaining storage and computing resources onto someone else. That means you won’t need to invest in server equipment, rent extra rooms to keep them in and hire a bunch of people to keep them running.

You’ll nix most of the administrative costs associated with managing documents on in-house servers or on, of all things, paper. A team of five can save up to $12,000 a year just by switching from paper record-keeping and data storage to cloud-assisted mobile services.

Scale Up or Down as Needed

Another great benefit of cloud computing, especially for startups, is that you can scale your software and storage services up or down, depending on what you need. There’s no need to guess how much storage you need for the upcoming year and run the risk of either coming up short or spending too much on equipment and licenses you don’t need. You’ll get what you need when you need it, and you’ll pay for what you use — nothing more, nothing less.

Take Your Software and Platforms Anywhere

In today’s increasingly connected world, more and more people are working remotely and traveling for work. As a startup, you may want to give your employees the ability to access company data, software platforms, work email accounts and more.

With cloud computing, your employees will be able to work from anywhere with an internet connection. That means they’ll be able to work from home, work remotely or make the most of a business trip. Take your account-based selling to a new level!

Keep Your Data Safe

If you’re worried about keeping customer and business data safe, you should know that most cloud computing solutions offer data encryption, firewalls and other security features, such as malware protection, to ensure that your data stays safe. Cloud computing service providers employ teams of cybersecurity professionals, who can keep your data safer than you can for a fraction of the cost.

In addition to protection against hackers and malware, cloud computing services also employ physical security measures to keep undesirables from gaining real-world access to the equipment your data is stored on.

Cyber attacks aren’t the only threat to your data’s security. You also have to worry about the threat posed by equipment failure, fires, floods and other catastrophes. Cloud computing services offer data recovery and backup protections that can safeguard your data against all hazards.

When it comes to storing your startup’s data, choosing software to meet your daily computing needs, or even choosing an operating system on which to run your devices, cloud computing services can give you everything you need.

You’ll be able to get exactly as much, or as little, computing power as you require, and you’ll save a lot of money and time by not having to deal with maintaining equipment and records of your own. Find out what cloud computing can do for your startup, and find the solutions to your business’s computing problems today, so you can focus on doing what you do best: developing your products and growing your business.

The post Here’s Why Your Startup Needs the Cloud appeared first on Tech Web Space.

Your behavior has ripple effects on the successes and failures of malware around the globe. Thus, if you want to live in a world where malware is no longer a threat, you need to ensure that you are doing your utmost to help the good guys win. Ultimately, that means maintaining high levels of security across your networks and devices – which is easy to do if you follow these steps.

Know Malware Tricks and Tactics

Living in the Digital Age, you probably know more about how malware functions than you might expect. Though malware is constantly evolving – trying to stay ahead of user behavior to remain effective at stealing data and ruining lives – the vast majority of malware that floats around online is outdated, using old-fashioned techniques for tricking users into downloading and installing. Though there are a few new-fangled malware varieties that have infosec professionals shaking in their boots, these are the malware tricks you should primarily be on the lookout for:

#1 Removable drives. Though a less common tactic these days, some hackers still disseminate malware through infected USBs, CDs or other physical drives. Before you insert anything onto your device, you should know where it came from and what you’ll find saved on it.

#2 Spam emails. Odd-looking emails – or messages on any platform including social media – can contain infected attachments and corrupt links that install malware on your device. Be certain that you know the sender of the message and trust that the message is real before you engage.

#3 Corrupt software. It is easiest to sneak malware into downloads with other executable files. As a result, hackers often trick users into downloading a legitimate software that is bundled with something nefarious. You should only download software from trustworthy sites.

#4 Hacked web pages. Most websites are riddled with vulnerabilities that make it easy for hackers to sneak malware into links, videos and images. Whenever you navigate somewhere new, you should keep your eyes peeled for signs of corruption, like flashing popups or banner ads.

#5 Install a Cutting-edge Antivirus Program

You can’t possibly memorize the signs and symptoms of all malware in existence – but a dedicated security program can. Antivirus software keeps a continuously updated catalogue of malware signatures against which it regularly checks all the files on your computer, to ensure you aren’t harboring any malicious code at any time. Max security antivirus programs usually also offer a firewall and other advanced security features that will help your device be better defended.

Update All Software Automatically

Over time, changes to operating systems, revelations about programming code and other developments expose vulnerabilities in your software. This is inevitable, and no software is safe. Fortunately, software developers are paid to recognize these vulnerabilities and close them as quickly as they open. All you have to do is install patches and updates as soon as they become available. To fight against the natural temptation to delay updates, you should permit all programs to download and install updates automatically at certain times of day, like 4 A.M. or 11 P.M., when you probably won’t be using your device.

Use the Strongest of Passwords

You have long been taught that the strongest passwords are eight characters with a mixture of lower- and upper-case letters, numbers and symbols – but that’s changing. These days, hackers have programs that can cycle through all eight character codes in hours, or less if you rely on dictionary words or common names and patterns.

The best passwords are a random assortment of 12 or more characters, but most people aren’t good at creating and remembering random codes. Thus, you should use this convention: Craft a memorable sentence and abbreviate it, using numbers and symbols where appropriate. For example, “My good dog Emily eats three meals and four bones every day!” transforms into the code “MgdEe3m&4bed!” It’s easy to remember but hard to computers to crack.

Remember Hackers Never Sleep

When devices in North America lie down to rest, hackers in Asia wake up ready to attack. Malware never rests, so you should never let your guard down. The health of devices around the world depends on you keeping your devices safe.

The post How You Can Help Everyone Win the Fight Against Malware appeared first on Tech Web Space.

Technology has evolved at breakneck speeds over the last couple decades. Today, consumers have access to a menagerie of smart gadgets that customize their behaviors and automatically complete tasks. Yet, in the workplace, many employees are stuck using archaic machines that don’t perform to their needs or expectations.

Though employers might view themselves as technologically advanced, employees know the truth: Too many organizations are stuck in the digital dark ages, and more than anything else, workers want their tech to come into the light. Here’s how you can adopt more cutting-edge tech to engage current employees and attract new ones.

Understand Risk Factors

Before you can supply your employees with the tech they want, you must better understand a few aspects of your business that may impact how technology affects performance and profits. Not all companies are immediately prepared to accept new technology. In fact, a reason your business has not already adopted to tech trends might be that your business is intolerant to change thanks to its size, age, location, industry, or staff composition.

Also read: AI, DIY, Chatbots, and the Future of Tech Support

These risk factors make it difficult, expensive, and unproductive to enhance tech, so many businesses with one or more of these aspects is unlikely to organically advance technologically. If you are trying to attract younger talent into your pool, you might need to fight against an established risk factor holding your business back.

Embrace Mobility

It’s likely that your employees are already using mobile devices to do their work, whether you want them to or not. An estimated half of all work-related emails are read on mobile devices, which might be connected to public networks or insufficiently protected private networks. By ignoring personal devices that use your business data – and by refusing to integrate them appropriately into your business security strategy – you are inviting insecurity into your business and increasing the likelihood of a grievous attack.

If you fail to listen to your employees’ pleas for enhanced tech, the tech your workforce employs will advance without you. You should develop an enterprise mobility management strategy to ensure that your business remains safe and productive while your employees use mobile devices to complete work.

Talk to Your Workforce

As a business leader, you can’t be certain what your workforce needs on a daily basis without communicating with them on the matter. Because your job isn’t identical to theirs – and because you likely haven’t performed their job in several years, if at all – you need their insight into what tech would improve their performance before you make any changes or advances to your tech strategy.

Likely, your lower-level staff won’t know all tech solutions available to them, but they can identify elements of their workday that are significantly slower or more difficult. If you can apply tech to poor processes to make them more efficient, you will succeed in providing the tech your employees want and need.

Enhance User Experience

Sometimes, it isn’t that the devices themselves are outdated or impractical but rather that the software you are running on them isn’t optimal for the tasks your employees perform. As you open up conversations with your workforce, you should pay close attention to their experience using different tech tools, including existing applications and programs.

Also read: Cyber Hygiene: The Simple Security Steps You Probably Aren’t Taking

If the hardware seems fast and agile but work continues to be slow and difficult, you might need to reconfigure your software solutions before you adopt other tech. Alternatively, you might need to provide better training for your workforce, so they feel more competent interacting with your current tools.

Stay Open-Minded

Too many business leaders have kept innovation at an arm’s length for fear that the latest tools won’t provide any benefits. Indeed, Bill Gates allowed Microsoft to fall behind Google because he rejected the idea that comprehensive search engines were necessary tools. Change is scary, especially when you have worked hard to develop a stable foundation for your business.

However, without change, your business will crumble slowly, if not all at once. As much as possible, you should remain informed about developments in tech that might impact your business and be willing to change when the time comes.

The post Tech Is What Employees Crave Most appeared first on Tech Web Space.

If you want to work in IT, or are already working in IT, it can be hard to see the value of a computer science degree when you can learn so much of your trade on the job. In a quickly-evolving industry, it’s important to stay on top of the day-to-day changes that take place in hardware and software development.

However, a degree in computer science is valuable because it gives you a foundational understanding of the theories and concepts behind the tools you’ll use every day. You’ll know not just what to use, but why you’re using it – and which tools are best for which jobs.

Avoid the Dreaded Plateau

Many programmers and software developers, especially younger professionals without much formal training in computer science, fear to reach a plateau, at which they find that they’ve “topped out” their skills and can’t progress any further. When this happens, it’s usually because the professional didn’t take the time to learn the fundamentals of computer science before embarking on a technology career. Programming and software development involves making computers do things; computer science is the study of how they do things.

Studying computer science will give you the base of knowledge you’ll participate at the highest levels of discourse in your industry. Your in-depth understanding of how computers work, and the concepts underlying how different types of software tools work, will allow you to make educated decisions about your work, such as, “Is a real-time fault-tolerant distributed streaming platform the right tool to use to send messages between these two applications?”

If your ORM statement looks valid, but the database query is still running slowly, you’ll be better equipped to solve the problem yourself, rather than passing it on to someone with more experience.

A computer science degree gives you a lot more than just a knowledge of the programming languages and tools that are popular right now. You’ll be able to reach higher levels of intellectual abstraction, in order to visualize complex systems, choose the right tools to solve a problem, evaluate and analyze distributed systems, match patterns from one tool to the next to understand how they work similarly and differently and finally, critically assess any tool or system that crosses your path.

You won’t have to worry about your skills becoming obsolete someday because you’ll be learning how to learn new technology tools, programming languages and systems, and learning is the one skill that will not be needed.

Earn Your Degree While Working Full-Time

If you want to get into the tech industry, a computer science degree might be right for you. If you’re already working full-time as a software developer, programmer, information systems expert or other IT field, you may worry that taking time away from your career to go to school will set you back, financially and professionally. Will the same tools and programming languages be as popular in four years’ time?

No matter where you are in life, the best solution may be to earn a bachelors in computer science online. If you’re already a working professional, you can earn your degree online on your own schedule while still fulfilling your responsibilities to your company.

Your company may even be willing to pay for your degree by offering you tuition reimbursement. This is a great way to update your skills while minimizing your student loan debt, and it can also help you continue to take care of your family, pay your bills and earn that paycheck while you attend school. If you’re worried about how to pay back your loan, you can consider automatic loan repayments as well.

While lots of tech gurus might claim that a computer science degree isn’t worth earning, it’s actually a credential with plenty of value. Employers want candidates with strong technology backgrounds, so with an education in computer science, you’ll enjoy numerous opportunities, a high salary and great prospects for the length of your career.

The post Here’s What a Bachelor’s in Computer Science Can Do for You appeared first on Tech Web Space.

Growth is extremely important to the success of your company, and sustained growth can be planned, even if sticking to that plan may be easier said than done. You’ll need to start by making sure you have the right foundation of skills to guide a business to success. Then you’ll need to choose the right people to help you sail the ship.

Start With a Solid Foundation of Skills

To give your budding tech business the best chance of success, you need to make sure that you have the solid foundation of skills needed to navigate the industry and run a business. A master’s in Control Systems Engineering or another tech-related field will ensure that you have the knowledge and skills you need to be a successful technology professional and entrepreneur.

In addition to building your technology skills, it’s also important to cultivate your leadership skills. When you start a business, your employees will look to you for inspiration. When you can lead with honesty, integrity, and vision, as well as providing innovative technology solutions, you’ll be able to guide your company to success.

Plan for Sustained Growth

The faster your business grows, the greater your chances of long-term success, according to McKinsey & Company. A software company needs to grow fast in order to succeed; a super-high growth rate of 60 percent or more makes your company much more likely to achieve revenues of $1 billion or more. But it’s not easy to sustain a company’s growth over the long term; for that, you’ll need a plan.

It helps to understand that growth happens in identifiable stages. First, you’ll need to nail down a business model that lets your company appeal to a wide range of customers. Then, you’ll need to narrow your focus somewhat to allow for future scalability. Eventually, you’ll need to expand to a more scalable business model once you’ve exhausted the growth potential of your initial model.

The factors that will drive your company’s growth will change depending on which stage of growth you’re in. Initially, you’ll need access to a large market, and you’ll need to deploy a business model that can be easily scaled up. You’ll want to emphasize rapid adoption of your products, and you’ll need to successfully keep them under wraps during development.

Finally, you’ll need to find ways to keep your top people loyal to the company as it grows. Once your company has experienced some success, you’ll need to find new ways to grow – expanding into new outlets, geographical areas, or service categories.

Hire the Right People

The right people will not only have the skills and qualifications to help your company succeed, they’ll be inspired by your vision and willing to work hard to make it a reality. As a startup, you may not be able to offer the benefits packages or even the salary that larger companies can provide, but that doesn’t mean you have to settle for less at hiring time.

Look for self-starters who have demonstrated an ability to adapt to new situations. Seek a positive attitude and problem-solving skills as well as an ability to take ownership of decisions and mistakes. Someone who knows how to own his or her own decisions is someone who will be more motivated to make those decisions good ones; he or she will be better at solving problems, communicating, and simplifying processes.

Ask candidates about their values and choose individuals whose stated values align with those around which you want to build your company’s culture. Look for ways to assess curiosity, perseverance, and flexibility, because your team may need to adapt as your company grows and roles change.

If you’ve got big dreams of building a successful tech business, it’s vital to start out on the right foot. Make sure you know what you’re doing, and then surround yourself with others who are just as capable and smart, and before you know it, your company could be the next Facebook, Amazon, or Google.

The post Are You Taking the Right Steps to Help Your Tech Business Get Ahead? appeared first on Tech Web Space.

And while most IT departments do an admirable job keeping mitigating threats to corporate networks, the simple fact that so many companies experience breaches, and that malware and viruses make it through the defenses, indicates that there is a problem somewhere when it comes to cybersecurity. In many cases, the issue is surprisingly simple: Network users just aren’t practicing good cyber hygiene.

Cyber Hygiene Defined

What exactly is cyber hygiene? Industry organizations define cyber hygiene as a comprehensive way to protect and maintain IT systems and devices. In other words, it’s the simple things that a company can do to keep their networks and data safe, such as password management, limiting the number of users with administrator privileges, and performing regular backups.

Much like you practice good hygiene by doing little things like brushing your teeth and washing your hands after using the bathroom to prevent illness (and spreading illness to others), practicing good cyber hygiene can keep your network healthy and prevent problems from spreading.

You might be thinking that stressing the importance of cyber hygiene is a no-brainer, and that reminding IT to do things like change passwords isn’t necessary. But consider the fact that many of the largest security breaches and virus epidemics in recent memory were caused by hackers taking advantage of vulnerabilities that could have been easily mitigated.

For instance, the recent WannaCry ransomware outbreak that infected hundreds of thousands of machines around the world was traced back to unpatched Windows operating systems. Machines that had been updated with recent security patches were unaffected by the ransomware – and those that weren’t locked down. The WannaCry incident is just one of many clear-cut cases in which good cyber hygiene could have prevented a serious incident.

Why These Things Don’t Happen — and What’s Being Done

The next obvious question is that if cyber hygiene is so simple, why isn’t it happening more often? The answer is varied and complex.

For starters, in many organizations, employees simply don’t have the security awareness necessary to fully protect themselves and their company assets against viruses and hackers. Regular, repetitive education related to cyber security is a key part of an effective security protocol, but research indicates that most companies don’t provide education and training to employees beyond initial on-boarding.

Very few companies offer ongoing, or even annual, training related to cybersecurity and the role that individual employees play in keeping their company safe. The result is that many employees operate under the assumption that their corporate IT department has a handle on security, and that they don’t have to worry about it.

Another common reason for a lack of cyber hygiene is the fact that many IT departments are focused on higher priorities and thwarting more sophisticated threats. However, industry experts have noted that good cyber hygiene could prevent about 80 percent of security incidents, meaning that your IT team will have the time and resources it needs to focus on other priorities.

Finally, another factor in poor cyber hygiene is poor user experience. Users don’t want to jump through hoops to access the tools they need or the data they are looking for. They want to get things done quickly, without having to remember dozens of logins. When IT can’t find a balance between security and user experience, that’s when things begin to fall apart.

Users will find a way around security protocols or engage in risky behaviors, while IT develops ever more complex methods of securing vulnerable networks. Rather, developing a streamlined, user-friendly system that meets everyone’s needs is a better method; for example, a multi-factor authenticated single login is likely to be more secured, and used properly, than many different passwords.

Developing a good cyber hygiene means outlining a set of standards (even the government has gotten in on the act, with the proposed Promoting Good Cyber Hygiene Act, which would establish a baseline set of best practices to prevent security breaches), educating users on those standards, and providing training and tools to make it easier to comply. When that happens, the likelihood of a breach goes down, and your network becomes safer and more secure.

The post Cyber Hygiene: The Simple Security Steps You Probably Aren’t Taking appeared first on Tech Web Space.

As a result, the tech support experience is getting better. In a recent survey, 57 percent of respondents said that tech support has improved in the past five years. 70 percent said they expect it to continue to get better in the next five years. Consumers want different things from the tech support experience, and developments on the horizon, such as an increased reliance on chat bots, AI, and self-service solutions, reflect what younger customers say they need and want in terms of tech support. For many customers, however, a human-guided experience, or a self-healing device, could be the answer.

Can You Fix It Yourself?

Internet technical support is a big expense for businesses, and many are turning to self-service solutions to keep costs down. Self-service solutions use FAQS, forums, and troubleshooting guides to empower customers to resolve their own tech support issues. Forums are perhaps the best DIY tech support solution; wherever a community of users comes together to share technical questions and knowledge, useful – and searchable – answers are sure to proliferate.

Customers are increasingly willing to tackle their own technical problems; only 33 percent say they’d rather pay for tech support than troubleshoot problems alone. In an atmosphere in which users expect more from technical support, it increasingly makes sense to give them the tools to solve their own problems, especially their more straightforward problems.

Service departments in all industries are struggling to meet the demands for service placed upon them by consumers, and providing DIY tech support helps service professionals manage their resources while still meeting customer expectations. DIY tech support is cheap, eases the burden on already-overworked tech support personnel, and offers consumers a feeling of satisfaction. Sixty-five percent say they feel good about themselves when they’re able to solve a problem alone.

Are You Talking to a Chat Bot?

Eighty-two percent of survey respondents say they can tell when they’re talking to a chat bot, but that doesn’t mean consumers are uncomfortable with the idea. It’s true that younger consumers are more willing to receive tech support advice from a chat bot, with Millennials saying they’re 75 percent more comfortable with chat bots than Baby Boomers. Chat boxes are already a popular means of conveying technical support; they sure beat sitting on hold for hours while you wait for someone to answer your call.

Chat bots build on that concept, using new software development technology to help resolve customer issues. Because chat bot software can analyze trends and historical data when responding to customer questions, they can provide responses based on previously accumulated data, for fast resolution of problems.

Is AI the Next Big Thing?

Some are calling artificial intelligence the next big thing in tech support, because it has the potential to respond to customer problems with real understanding and analytical power. AI programs could provide a reactive support experience that doesn’t require customers to interact with a human. They could use historical data to answer questions in the same way chat bots already do, and they could help guide customers to the appropriate self-service resources or refer them to a human professional when necessary.

Concierge Support and Self-Healing Products

Of course, there will always be people who dislike conversing with computer programs and don’t want to puzzle through their own tech support issues. For these individuals, concierge support will provide a direct channel to a human professional. In the near future, features like proactive support will warn customers about problems before they cause issues, and more devices and products could become self-healing, fixing their own issues without the need for any user intervention at all.

Tech support has grown by leaps and bounds in the past few years, and it’s only getting better. Most consumers expect tech support to become even more sophisticated in coming years, and with the emergence of more self-service solutions and automated representatives, the future of tech support looks bright.

The post AI, DIY, Chatbots, and the Future of Tech Support appeared first on Tech Web Space.

As cloud services grow more popular, Cisco intends to transition to a software-as-a-service (SaaS) model. The company also has plans to continue development of its recently-launched intent-based networking (IBN) strategy. A new partnership with Berlin-based blockchain network IOTA also speaks to Cisco’s plan to create a secure marketplace based on blockchain transaction ledgers.

A Move to SaaS

Traditionally, software was sold on a perpetual license, meaning that consumers paid once, and they gained access to that version of the software in perpetuity. But more and more these days, software is being sold as a service. The SaaS model asks consumers to pay a regular subscription fee, usually monthly, in order to continue to access a software product. According to this model, software is hosted remotely and made available to users over a network. Basically, it allows users to rent, rather than buy, software.

SaaS has many benefits for businesses, including decreased costs, time savings, and enhanced scalability and accessibility. It removes the need to wait for lengthy software updates, and can increase the reliability and response time of the software.

In 2018, Cisco is expected to continue rolling out new SaaS products like Tetration and DNA Center. The reason for this is that many Cisco distributors are seeing network hardware sales starting to drop off as more users – even corporate users – begin to rely on cloud platforms and storage. As a result, Cisco is already taking steps to adapt, so that it can continue to provide relevant, valuable services to users of the Internet of Things (IoT).

Continued Work on the IBN Strategy

Next year, users can expect Cisco to continue developing its IBN strategy. IBN strategy uses machine learning algorithms to automate the management of enterprise networks. It will allow network administrators to translate their commands into software actions, verifying network-wide policies that the intent-based networking system (IBNS) can then execute. Once a network manager has defined the network’s desired state, the IBNS software can manipulate the network to create that state, monitor it, and maintain it.

The machine learning software required most likely isn’t advanced enough to allow Cisco to roll out functional IBNS software in 2018. Experts believe that this software won’t be ready for mainstream application until at least 2020. However, analysts believe that users can expect to hear Cisco talking about its IBN strategy a lot in 2018, specifically in terms of how they plan to begin rolling it out.

The Creation of a More Secure Marketplace

The development of blockchain technology in 2009 revolutionized online commerce because it gave merchants and retailers a way to create unassailable, verifiable transaction records. That’s important because it allows for more secure transactions, especially when it comes to the use of cryptocurrencies, like bitcoin. Blockchain consists of two components: a network that facilitates and verifies transactions, and a ledger, or record, of those transactions.

Because the network in question is decentralized, no one organization, like a bank or a company, controls the data it creates; because data can’t be erased or altered once it’s entered into the ledger, the record it creates is as reliable as any traditional pen-and-ink accounting system – perhaps more so.

Cisco’s recent partnership with blockchain network IOTA means that, in 2018, Cisco can be expected to create, or work towards creating, a secure marketplace for data. This data marketplace is expected to make use of valuable data that’s currently lost due to a lack of any ability to share or sell it. IOTA claims that more than 2.5 quintillion bytes of data are created daily around the world, but that most of it – as much as 99 percent – is lost before it can be monetized. Cisco clearly recognizes the value of this lost data, and will be partnering with other giants including Samsung Group and Volkswagen AG to help IOTA turn it into cash.

Networking services and hardware provider, Cisco, has some important new developments in the works for next year. While the changes Cisco has planned may take longer than one year to put into place, they reflect recent changes in the way we use networking hardware and software – and changes yet to come.

The post Blockchain, SaaS, and IBN: What Cisco’s Doing in 2018 appeared first on Tech Web Space.