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Web browsers such as Google Chrome, Firefox, Safari and Edge, among others, play an essential role in enabling access to websites on the internet. Most browsers allow users to install extensions, also referred to as add-ons or plug-ins. These extensions are applications or small software modules that add functionality and other useful features to a browser. By means of the extensions, users can carry out various tasks such as password management, cookie management, ad blocking, interface modification, productivity tracking, grammar and spell-checking, etc. However, although the extensions offer different useful functionalities, cybercriminals have taken advantage of them, creating a security risk to users and theirRead More →

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Non-fungible tokens (NFTs) are rising in demand, and some brands are already generating great results in their campaigns and providing a unique experience to customers. As the hype around NFTs continues, businesses need to understand how they can benefit. What is an NFT? An NFT is a valuable digital asset created using blockchain. Unlike cryptocurrencies, NFTs are not mutually interchangeable as each NFT represents a different asset with a different value. Hence, an NFT verifies the authenticity of a non-fungible asset. This means that the purchaser of the asset/product can only use a product. Unlike other digital products, an NFT can’t be duplicated and sold.Read More →

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Today, businesses have to grapple with vast amounts of data from different sources, including emails, mailing lists, customer orders, system logs, mobile apps, social media networks, etc. This data is crucial to businesses in various ways. When analyzed, a business can identify operational issues, personalize the customer experience and manage supply chains – all contributing to better decision-making. However, big data also has challenges, especially regarding its storage due to size and other factors such as collection speed, processing, retrieval and format. This becomes more complicated as the data keeps growing with time and cannot be stored in traditional storage devices, necessitating a need forRead More →

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Cash flow awareness is vital in running the day-to-day activities of a business. Keeping track of the inflows and outflows helps a company make better plans and decisions, such as the right time to expand. Cash flow knowledge reveals where a business is spending money and can protect business relations, among other benefits. However, tracking cash flow is a challenge for many businesses. To avoid business failure due to poor cash flow management, business owners are investing in software applications to help manage cash flow challenges. Modern technology enables access to these applications over the cloud, giving small- and medium-sized businesses the opportunity to benefitRead More →

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Cybersecurity has become more important than ever, especially with the rise in cyberattacks. However, much focus is put on computers, laptops, servers, etc. Mobile phones and tablets seem to be overlooked when talking about cybersecurity. Today smartphones are integrated into the modern workforce as driven by work at home and remote working. To enhance mobility, these devices are installed with business mobile applications that enable access to company systems. They enable users to conduct different activities on-the-go, such as banking, connecting to company networks, business transactions, and other social operations. However, this is raising concerns about the security of sensitive corporate data and other personalRead More →

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Cybersecurity experts estimate that there is a ransomware attack every 11 seconds. This makes it a challenge to individuals, businesses and even governments. In ransomware attacks, cybercriminals encrypt a victim’s network or data, making it inaccessible until a ransom is paid. Despite organizations’ efforts to reduce the attacks, cybercriminals also are advancing their attack methods. For instance, an organization may have backups they can use to restore their systems, but the criminals also demand ransom not to publish the sensitive company information they have in their possession. Ransomware is not a new cybersecurity threat. It is traced back to 1989 when the first ransomware wasRead More →

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Metaverse has become a buzzword with much debate on its potential implications once it is fully realized. As far as businesses are concerned, the metaverse presents new opportunities and challenges, especially for marketing, branding and communication professionals. Understanding Metaverse Metaverse became a hot topic thanks to Facebook announcing its rebrand to Meta in October 2021. However, the metaverse is not new and can be traced back to 1992 in the fiction novel “Snow Crash” by Neal Stephenson. Stephenson used the term to refer to a virtual world where people can do different activities. As the internet moves to a new iteration as Web 3.0, differentRead More →

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Certifications are not a new thing in the accounting industry. However, with new technology trends, accounting departments are faced with the challenge of taking courses in technology in order to carry out their tasks. Many businesses are ditching desktop-based accounting software and turning to cloud-based software. This requires that the users be well-versed with necessary skills to use the cloud accounting solution. What is Cloud Accounting? Among the cloud-based solutions that businesses have adapted is cloud accounting. Cloud accounting has all the functionalities of desktop accounting. However, in cloud accounting all processes are carried out online where the data is stored on cloud servers. CloudRead More →

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Technology has had a major impact on the accounting industry. Gone are days when technology was a second thought and accountants preferred the traditional methods to which they were accustomed. As we start another year, technology is also progressing rapidly. The recent business disruption by the COVID-19 pandemic also has contributed to the acceleration in tech adoption. A major lesson learned from the events of the past two years is the need for digital transformation and prioritizing technologies that will help businesses remain relevant. Since the accounting industry plays a crucial role in running businesses, it is important to be aware of relevant technologies thatRead More →

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Accounts payables (AP) is a process in the financial department that can be inconsistent and burdensome. However, today’s workforce has driven AP transformation – especially with remote working. Some businesses do not have much choice but to accept automation while others may have realized the need to automate accounts payables due to the numerous benefits that come with it. Before hastily choosing automation, it’s important to make some careful considerations to avoid mistakes that come with the improper implementation of any business accounting technology. Here are a few guiding considerations: What is the cost-benefit analysis? Any new system comes with its expenses and as such, itRead More →