Business, Technology

Why You Must go For Cyber Insurance Now

Cyber insurance may sound alien or strange, you won’t be the only one having such a view. You may even frown at anybody who suggests that you go for cyber insurance and you will be right. Insurance policies are, however, not strange to businesses but going for cyber insurance sounds as if we are taking the game too far. But then, you have never thought even in your wildest dreams that you will get to a situation where the fear of cyber threats is the beginning of business wisdom. Even where you want to believe there is no need for cyber insurance, the evidence on the ground completely contradicts any such notion you may be having. Cyber attacks are not in any way relenting and cybercriminals are becoming more sophisticated and tech-savvier  Jeremiah Grossman, founder of WhiteHat Security and organizer of the cyber insurance micro summit Black Hat 2019, said he believes cyber insurance will have “a profound impact on every single one of us, in every single thing that we do in this industry.” This is definitely the reason why the cyber insurance market has experienced a boom in recent years. The bitter truth is that despite the boom…

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Business, Technology

10 Reasons Why Your Brand Must Not Ignore ERP

Take an in-depth analysis, the result you get is mind-boggling, competition from the small, medium, and large scale enterprises can’t be further ignored. The global market has become your “next door neighbor” but fortunately, ERP has come to your rescue. An ERP (enterprise resource planning) system can be seen as the binding force that glues together the different computer systems for your brand. ERP applications ensure that the different departments in your brand are able to communicate and share data quite easily.  With ERP securely in place, you gather information about the activity and state of different divisions and make this information available to other component parts of the brand, where it can be used productively. ERP applications can help a brand become one workable unit by linking information about the production, finance, distribution, and human resources together.  ERP system is able to harmonize accounts payable, stock-control systems, order-monitoring systems, and customer databases into one system. A comprehensive look at the following 15 reasons brings to the fore why you can no longer ignore ERP. 1. Competitive edge You may be put off by the fact that ERP software requires a major investment, but the other side of the coin…

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Business

Why Enterprise Management is a Must For Your Brand

Enterprise management is one of the modern examples of Enterprise resource planning (ERP). It allows brands to manage vital day-to-day processes such as inventory management, accounting, human resources, and customer relationship management (CRM) to effectively have a competitive edge in the global market. Enterprise management supports how different business components work by distributing information through a shared database. Many ERP software applications have been developed to help companies implement resource planning by integrating all of the processes it needs to run a company with a single system. In view of the serious competition in the global market as a result of the world becoming a global village, the following are pointers as to why you should be at the forefront of brands implementing enterprise management.   1. Globalization Interacting with the world ordinarily offers lucrative opportunities and creates a higher demand for products. Globalization, however, comes with a cost. The crowded global market should be a source of joy to brands but it also means more competition and a rapidly accelerating rate of change. The pressure to innovate, while at the same time keeping costs to a minimum and reducing the time-to-market is a competitive necessity. The copious availability of…

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Business, Technology

Larry Kim of MobileMonkey Answers Where Chatbots is Taking Businesses

One problem that has besieged marketers over the years has been how to engage their teeming customers at scale, but thanks to the advancement in technology, with the continuing research and development as well as the push to innovate, chatbots have come to redress this situation. Marketers now have chatbots, a unique and distinctive opportunity to engage their customers at scale. Chatbots have come to revolutionize the way customers’ questions are answered. Customers are the central point of any kind of business, therefore, all your effort should be geared towards ensuring that your customers’ pain points are addressed promptly. This requires a 24/7 service and there is no way you can do that without chatbots, especially with the world population estimated to be 7.79 billion by 2020. This could be the reason why Larry Kim the founder of one of the largest search marketing company(Wordstream) realized before selling the company to kickstart an entirely new company MobileMonkey that is centered on messaging. In an interview, Larry Kim granted Nature Torch, he bares his mind on what the transition has been like. 1.) What is the transition from founding one of the largest search marketing company(Wordstream) to building a Chatbot company…

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Business, Technology

High Churn Rate in Apps: 3 Causes And Remedies

Across all industries and as of the second half of 2018, 71% of all app users churn within 90 days. This high churn rate is very disturbing and frustrating to businesses taking into consideration that it can cost five times more to convert a new customer than it does to retain an existing one. The customer churn rate is obtained by dividing the number of customers you lost in a quarter by the number of customers you had at the beginning of that quarter. It’s a very important metric in understanding whether your company is experiencing a high customer churn rate. If you are surprised why your brand should be concerned about apps churn rate, users connected to iOS and Android devices spend 86% of there time on apps while they spend only 14% on browsers. What then are these 3 causes of high churn rates in apps? 1. Lack of qualitative value Why you use an app is because you want to solve a particular problem and if that problem persists, you may want to reconsider your initial decision. Meanwhile, the following apps are assessed based on what they do well, Uber – Helps people reliably secure transportation. Waze…

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Business

7 Areas Government Policies Could Affect the CBD Industry

The growth of the legal hemp industry has spun a new market with less legal bottlenecks. Short for Cannabidiol, CBD is a byproduct of the industrial cannabis plant that does not contain the THC, the cannabis property that gets consumers high. With a reported growth projection of $22 billion by 2022, the CBD industry is too big to sniff at. Everyone is interested in taking a bite of it. Analysts have called it the next gold rush, and it’s proving to be one. And the government is not looking away from it. In fact, in America, like in many other advanced countries, the government is deeply interested in the CBD industry. With the US government highly invested in the control of the CBD industry, expect to see policies impact its growth over time. Preparing towards these impacts can help the true entrepreneur better navigate the challenges the CBD industry will pose and build a thriving business out of it. 1. Distribution Even though the 2018 Farm Bill passed by President Trump legalizes the use and sale of CBD across all 50 states, the distribution of cannabis products is still under serious restrictions. FDA Commissioner Scott Gottlieb, M.D., on signing of…

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