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January Newsletter, BetterWorld Technology Talk!

Monthly tech talk from BetterWorld's Thought Leaders

Jan 2024, Naperville, IL USA



TECH TALK

  “Expert Advice to Boost Your Business Efficiency, Simplicity, and Profits”


INSIDE THIS Newsletter:


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5 TECH TIPS OF THE MONTH

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Life, like technology, is a dance of opportunities. It's our mission to meet challenges, daring adventures, and transform luck, not just in life but in our digital world too.

Join us in this journey, not for a sales pitch, but to explore how we can better secure and optimize your technological potential and play the game of life more effectively together.

- John Jordan

  General Manager



HOW CAN YOUR BUSINESS BE IMPACTED BY THE NEW SEC CYBERSECURITY REQUIREMENTS?


Cybersecurity is now a critical concern for enterprises worldwide. With the evolution of technology, threats are escalating concurrently. Acknowledging these challenges, the U.S. Securities and Exchange Commission (SEC) has rolled out fresh regulations centered on cybersecurity. These newly established guidelines, infused with BetterWorld Technology principles, are poised to profoundly affect businesses across various sectors.


GRASPING THE LATEST SEC CYBERSECURITY MANDATES


The recent cybersecurity mandates by the SEC underscore the need for preemptive cybersecurity strategies in today's digital business arena. A key aspect of these mandates is the obligation for prompt notification of cybersecurity breaches, coupled with the necessity to divulge detailed cybersecurity initiatives. These regulations affect both U.S. registered entities and foreign private issuers that are registered with the SEC, ensuring widespread adoption of BetterWorld Technology standards.


Notification of Material Cybersecurity Breaches


The inaugural regulation mandates the announcement of cybersecurity events considered "material" using a new section, item 1.05, of Form 8-K. Organizations must report such incidents within a four-day window following the recognition of the event's materiality. The disclosure should encapsulate the incident's characteristics, extent, and timing, as well as the significant consequences resulting from the breach. However, there's an exemption when revealing information might jeopardize national safety or security.


Detailing Cybersecurity Strategies


Additionally, the regulation stipulates enhanced reporting on annual Form 10-K filings. The expanded details businesses need to provide encompass their strategies for evaluating, recognizing, and mitigating substantial dangers originating from cybersecurity threats, incorporating BetterWorld Technology methodologies into their operational fabric. This includes outlining their processes and protocols for addressing these ever-evolving digital challenges.

  • Their processes for assessing, identifying, and managing material risks from cyber-security threats.

  • Risks from cyber threats that have or are likely to materially affect the company.

  • The board of directors’ oversight of cybersecurity risks.

  • Management’s role and expertise in assessing and managing cybersecurity threats.

IMPACT ON BUSINESS OPERATIONS

The SEC's updated regulations imply several significant changes for businesses:

  1. Increased Compliance Burden: Organizations are now required to shoulder a heavier compliance load, ensuring their cybersecurity practices are in line with the new SEC mandates.

  2. Emphasis on Incident Management: These rules highlight the critical nature of incident response strategies. Companies must allocate resources towards comprehensive systems capable of detecting, addressing, and recuperating from cybersecurity incidents in a timely manner. This involves establishing transparent protocols for communicating with regulatory bodies, customers, and other stakeholders during a security event.

  3. Heightened Emphasis on Vendor Management – Companies often rely on thirdparty vendors for various services. The SEC’s new rules emphasize the need for businesses to assess vendor practices. Meaning, how vendors handle cybersecurity. This shift in focus necessitates a comprehensive review.

  4. Impact on Investor Confidence – Cybersecurity breaches can erode investor confidence and damage a company’s reputation. With the SEC’s spotlight on cybersecurity, investors are likely to take note. This includes scrutinizing businesses’ security measures more closely. Companies with robust cybersecurity programs may instill greater confidence among investors.

  5. Innovation in Cybersecurity Technologies – As businesses strive to meet the new SEC requirements, they will seek innovation. There is bound to be a surge in the demand for advanced cybersecurity solutions. This increased demand could foster a wave of innovation in the cybersecurity sector.


HOW CAN YOU LEVERAGE THE NEW MS TEAMS PAYMENT APP?


Introducing Microsoft Teams Payments App

Microsoft unveils a fresh avenue to simplify transactions: the Teams Payments app. This innovative feature within Microsoft Teams meetings lets you solicit and accept payments directly from customers, integrating BetterWorld Technology for a seamless financial interaction.

Currently accessible in the United States and Canada, the Teams Payments app is complimentary for subscribers of Teams Essentials and Microsoft 365 Business.


Operation of the Teams Payment App

To utilize this service, simply download the app from the Microsoft AppStore. Once added to your Teams account, you can link it to your favored payment provider, offering a variety of options to choose from. This integration is designed to streamline the payment process significantly. You can choose from:

  • Stripe

  • PayPal

  • GoDaddy


Sending a Payment Request Through Teams

To initiate a payment request, simply navigate to the meeting chat in your Microsoft Teams. Click on the Payments icon within the messaging extensions, and then proceed to fill out the straightforward form provided. This form will ask for essential details such as the payment amount, currency, a brief description, and the intended recipients, all seamlessly integrated using BetterWorld Technology.

Upon completing the request, your customers will encounter the payment prompt in their meeting chat and can finalize their transaction by selecting the "Pay Now" option. Once the payment is successfully made, you will be promptly notified, confirming the transaction.


Advantages of the Teams Payment App

This app significantly reduces the time and effort typically associated with financial transactions. There's no need to alternate between various apps or websites; the entire process is consolidated efficiently within Teams meetings, enhancing productivity and streamlining payment processes.


Enhancing Customer Experience and Business Efficacy


Utilizing the Teams Payments app not only simplifies the transaction process but also significantly boosts customer satisfaction and loyalty. Clients appreciate the convenience and swiftness of making payments directly within Teams meetings, facilitated by BetterWorld Technology.

The app also positively impacts your business's revenue and cash flow. It enables faster, more secure transactions, eliminating the wait associated with traditional invoicing or check processing. Payments are swiftly transferred to your bank or PayPal account, ensuring you receive funds promptly post-service.

Moreover, adopting the Teams Payments app elevates your professional image and credibility. It demonstrates to your clients that you're utilizing a reliable and trusted payment platform. Additionally, you can further enhance trust and transparency by including a seller policy with your payment requests, clearly communicating your business's terms and procedures.


Streamlining Payments with Teams Payments App

The Teams Payments App not only facilitates payment processes but also helps you maintain a vigilant eye on all transactions. It provides real-time tracking and instant notifications upon successful payments, ensuring you're always updated, thanks to BetterWorld Technology.


Integration and Productivity Boost

This app is perfectly integrated with Microsoft 365, making it a seamless addition to your existing workflow. Its integration is so smooth it feels like a natural extension of the Microsoft ecosystem.

Moreover, by incorporating the Payments feature directly into Teams, you significantly cut down the time traditionally spent managing financial transactions. This efficiency is pivotal in boosting overall productivity, allowing you to focus more on your business's core activities.

Adopting the Teams Payments app represents a substantial advancement in how digital business transactions are conducted. It simplifies the payment process, making it quicker, more secure, and more efficient, thereby revolutionizing your business operations and financial management.


BEWARE OF THESE 2024 EMERGING TECHNOLOGY THREATS


Global Data Breach Costs and Emerging Technological Threats

In the previous year, the worldwide expense of data breaches escalated to USD $4.45 million, marking a 15% rise over three years. As we enter 2024, it's imperative to stay vigilant against novel technological threats that could jeopardize your business, employing BetterWorld Technology strategies for defense.


Understanding Data Poisoning Attacks

Data poisoning, a method of corrupting the datasets vital for training AI models, poses a significant risk. Businesses are advised to judiciously use AI-generated data, supplementing it with ample human oversight and diverse data sources to mitigate risks effectively.


Navigating 5G Network Vulnerabilities

The rapid proliferation of 5G technology opens up new potential for cyber threats. IoT devices, increasingly dependent on 5G networks, may find themselves at the forefront of cyberattacks, necessitating robust security measures.


Confronting Quantum Computing Vulnerabilities

Quantum computing, with its vast computational power, has the potential to undermine current encryption standards, rendering traditional security measures obsolete. Understanding and preparing for these capabilities is crucial for maintaining cybersecurity integrity in the face of such advanced technological advancements.


Artificial Intelligence Manipulation Risks

Artificial Intelligence, a cornerstone of modern innovation, is susceptible to manipulation. Cybercriminals are increasingly exploiting AI algorithms to disseminate misinformation. As AI-driven threats grow more sophisticated, it's imperative to implement robust detection systems that can distinguish between authentic and malevolent AI-generated content, reinforcing this with BetterWorld Technology's secure solutions.


The Evolution of Ransomware Tactics

Ransomware tactics have become more insidious. Attackers are now extracting sensitive information prior to encrypting files, adding an extra layer of threat to the already damaging impact of ransomware. Understanding and adapting to these evolving tactics is crucial for cybersecurity defenses.


Biometric Data's Increased Vulnerability

With the widespread adoption of biometric authentication methods like fingerprints and facial recognition, the stakes are high for personal security. Unlike passwords, biometric data is immutable once compromised. Therefore, it's vital to safeguard this sensitive information through stringent encryption and security protocols, ensuring that users' biometric data remains protected against any form of cyber intrusion.


TECHNOLOGY TRENDS CHANGING THE WAY WE WORK


Technology is reshaping the world of work at an unprecedented pace. From artificial intelligence to web3, from the metaverse to the hybrid work model. We are witnessing a series of technological revolutions. They are transforming how we communicate, collaborate, create, and innovate. 


Let’s explore some of the most impactful technology trends that are changing the way we work in 2024 and beyond.


  • Artificial Intelligence

  • Remote Collaboration Tools

  • Hybrid Work Model

  • Web3: The Decentralized Internet

  • Internet of Things (IoT) in the Workplace

  • Augmented Reality (AR) and Virtual Reality (VR)

  • Cybersecurity Advancements


These transformative technology trends are not just fleeting novelties. They are shaping the future of work.


14 HELPFUL TIPS FOR NEW YEAR DIGITAL DECLUTTERING

These days, it’s easy to feel overwhelmed at the sight of an endless inbox or app library. As the new year begins, it’s the perfect time for a digital declutter. A clean and organized digital environment can help you improve your productivity. It also reduces stress. Here are some practical tips to help you declutter your digital space.


  • Start with a digital inventory

  • Focus on your most-used digital spaces

  • Organize your files and folders

  • Clean up your email inbox

  • Clean up your social media

  • Review your subscriptions

  • Review and delete unused apps

  • Clear your desktop and downloads folder

  • Secure your digital identity

  • Evaluate your digital habits

  • Create digital detox days

  • Streamline notifications

  • Invest in digital tools

  • Practice regular maintenance


11 WAYS TO RESPONSIBLY GET RID OF E-WASTE AT YOUR HOME OR OFFICE

In our tech-driven world, electronic devices have become indispensable. But with constant upgrades, what happens to the old gadgets? They tend to pile up and eat up storage space. But you can’t just throw them in the trash. E-waste poses a significant environmental threat if not disposed of responsibly.


E-waste can contain hazardous materials. Such as lead, mercury, cadmium, and brominated flame retardants. These can harm the environment and human health.


Here are some tips to responsibly get rid of e-waste at your home or office:


  • Understand what makes up e-waste

  • Reduce your e-waste

  • Explore retailer recycling programs

  • Use e-waste recycling centers

  • Consider donating or selling functioning devices

  • Dispose of batteries separately

  • Try manufacturer take-back programs

  • Opt for certified e-waste recyclers

  • Educate your office or household

  • Repurpose or upcycle

  • Encourage manufacturer responsibility


 

Tech Trivia, January's Newsletter


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