There is no denying that technology lies at the core of the way in which businesses are operated today. 

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In fact, 85 percent of small business owners have reported that using technology aids the success of their organization. 

However, it is not just about having technology in place. It is about having the right technology in place, and ensuring that you are using it in a manner that moves your business forward. 

With that being said, in this blog post, we are going to take a look at some of the different ways that technology is going to change the weight that business is run in 2022. 

Technology will help businesses deal with changing data laws and requirements

The rules and regulations regarding data requests and privacy are changing all of the time. Businesses are held accountable for the manner in which they collect and process personal information. 

If someone submits a DSAR (Data Subject Access Request), you are obligated to respond and provide a copy of any relevant data you have on the subject. While DSARs themselves are not new, the recent regulations regarding consumer data privacy mean that individuals can make requests with much greater ease. 

The changes that have been made go a long way when it comes to data processing transparency, yet they create some hurdles for businesses of all sizes.

Luckily, technology is helping businesses handle DSARs and other types of data requests. For example, an important part of the process is verifying the identity of the subject. This is something that technology will automate for you. 

You can also use technology to make sure that all of the data you hold is stored in an organized manner, with the highest level of security in place. Furthermore, you will be able to send the data electronically and securely to enhance efficiency and ensure the information is protected.

People will be hacking their own networks for enhanced security

Penetration testing is one of the most effective and powerful cyber security assessment services that are available to businesses nowadays. 

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The process involves testing your system, applications and such, to determine where vulnerabilities lie. You can then deal with the vulnerabilities in order of priority / greatest risk to ensure that hackers do not exploit them. 

A penetration test essentially involves employing a group of ethical hackers who will be granted access to your system. This assessment is used to answer the question – what is the real-world effectiveness of the security controls my business has in place against an active, skilled, and human attacker? 

The professionals you hire will, therefore, in a sense act exactly how a hacker would – without causing any damage to your business, of course. 

By thinking like a hacker, they are able to find the spots such criminals would take advantage of, to ensure you can tighten up your security system before anyone actually capitalizes on your vulnerabilities. 

Of course, the main reason for investing in this service is to minimize the possibility of an attack. Nevertheless, there are many other benefits to gain as well, such as meeting regulatory requirements and enhancing corporate identity. 

However, you will only experience these advantages if you choose a company for pen testing with a huge amount of care and consideration. 

The value of penetration testing

Now you know the basics regarding how a penetration test actually works, but why is this a recommended service for businesses to take advantage of? There are many benefits to be gained. 

Firstly, you will be able to determine how likely it is your system will be attacked, and you can, therefore, put measures in place to minimize opportunities for hackers. 

One of the great things about pen testing, in particular, is that vulnerabilities can be ranked in order from high risk to lowest risk. This makes the service exceptionally effective, as you will be able to deal with all vulnerabilities in order of priority. 

A penetration test is also beneficial as you will be able to assess your current defense system, whilst also determining the impact a successful attack would have on your business and your operations. 

This is a great way of meeting compliance as well and you can provide evidence to support your increased investment in security personnel and technology to customers, investors, and C-level management. 

Such security measures actually go a long way to enhancing your reputation and ensuring customer satisfaction. Security is a big deal for consumers nowadays. They want to be sure that their private information is going to be protected. By taking net security into account, you will boost your professional identity and you will build a loyal consumer base as well.

Transaction monitoring software to help financial businesses spot fraud

Aside from the different areas of technology we have discussed so far, another area whereby we can expect to see technology thrive in 2022 is in regard to suspicious transactions.

Transaction monitoring software helps companies of all nature, including financial institutions, spot suspicious transactions, for example, unusual account activity and high-value cash deposits. 

How Technology Will Change The Way Business Is Run In 2022

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Examples of the sort of actions that may be flagged or blocked include:

  • Unknown source of outbound or inbound funds
  • Sizable cash withdrawals or deposits, known as transaction velocity
  • International or domestic transfers over a specific value
  • Transactions over a certain value
  • Unusual account activity or transactions 

Businesses working in the finance industry need to be compliant with anti-money laundering regulations (AML) in place. An imperative part of adhering to these guidelines is monitoring and blocking suspicious transactions using transaction monitoring software. 

You can use transaction monitoring software to help you manage your customer accounts with a risk-based approach, reduce operational costs associated with manual reviews, give confidence to banking partners and regulators, and prevent AML fines. 

It is especially important to use a risk-based approach when you are managing consumer accounts so that you can balance ease of use and security. You can enable customers who are low-risk to perform more actions while keeping a closer eye on any users deemed medium to high risk. 

If this is the sort of software you are looking for at your business, SEON recommends these tools to help you block out any suspicious activity. 

Network design will continue to increase in importance for businesses of all sizes 

Nowadays, the need for a network computer system is evident across all businesses and all industries. As long as you have more than one computer at your business you have the scope for a network to be implemented. 

When it comes to implementing a network you need to give a lot of thought to the design process entailed. At the end of the day, a network system for a small start-up company is going to be very different from one designed for a massive organization. This is where managed services really help. 

Don’t underestimate just how important your network design choice is. After all, choosing to have a network system implemented is something that can provide you with a monumental increase in efficiency and production levels. Yet optimal levels will only be achieved if your design is effective. 

You may choose a network design that is not substantial enough to connect all the computers at your business and because of this, it may run very slowly. 

Furthermore, don’t think you need to add every single feature possible to your network. Only add the things you need. This again is another way you will slow it down. A lagging network completely counteracts the argument for having one in the first place.

In addition to this, security is imperative. You need to make sure that all of the data shared between the computers is still safe and not accessible via any outside sources. It cannot be stressed enough how pivotal this is. If someone was able to easily hack into your system your company’s reputation would be crushed. 

The third and final thing you need to think about when finding the right network is if the company in question provides you with after support or not. It is imperative that a significant amount of aftercare is on offer. This is even more so important when you consider the fact that all computers will now be connected together. 

Final words on how technology will change the way businesses are run in 2022

So there you have it: an insight into some of the different ways that technology is going to change the way that business is run in 2022. We hope that this has given you a better understanding of the impact that technology can have and the trends that we expect to see over the coming year.