The best password managers… and other technology news impacting your business this week

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Here are five tech things that happened this week and how they affect your business. Did you miss them?

1 – These are the top 5 best password management software companies in 2023

Technical times has listed the five best password management software: programs that store encrypted lists of passwords that only authenticated users can access. The first one LastPass known for their advanced cloud technology. The most commonly used on the list is Sticky password. All five have something to offer with 30-day free trials. (Source: Technical times)

Why this is important for your business:

Every company – and every individual – should use a password manager. The biggest advantage is that you can use complex passwords on major sites such as banking and e-commerce platforms and then store and retrieve them from the password manager. Good managers will also evaluate the effectiveness of your passwords.

2 – Hundreds of drones are now used in IKEA stores for stock inventory

The company confirmed that 100 drones are currently in operation to streamline inventory management and assist employees with certain tasks. The first drone was launched two years ago and there are now 100 operating at IKEA locations across Europe. (Source: INGKA)

Why this is important for your business:

“The introduction of drones and other advanced tools – such as robots for picking up goods – is a real win-win for everyone,” Tolga Öncu–Head of Retail at Ingka Group (IKEA)– said about the technology developed in collaboration with Truth–a company that specializes in drone systems for warehouses. He’s right, and I see more of my smaller and medium-sized clients using drones to monitor safety and help count bikes.

3 – These are the 10 most popular SaaS providers for small businesses

Business banking platform Novo has released its list of the 10 most used Software As A Service (SaaS) providers. A sample of 70,000 small businesses and self-employed individuals shows that these 10 SaaS providers fill a vital need. (Source: New)

Why this is important for your business:

No surprises here. At the top of the list intuitive–the provider of QuickBooks. Website builder Wix is the tenth most popular. Adobe And GSuite from Google were the numbers three and two respectively. I bet your company uses half of this.

4 – Companies need HR technology as tax compliance becomes more complex

Craig Bolte by payment com offered his insights on how businesses can relieve themselves of the stress and headaches of tax compliance. (Source: Bloomberg tax)

Why this is important for your business:

Boelte suggests that implementing HR Tech is one of the wisest decisions companies can make. He cites examples such as tax deadlines, as HR technology reduces the demands on HR managers and handles the details with a high degree of accuracy. Payroll is another process that needs to be automated. In cases where advanced software is used, Boelte said most executives he spoke to reported that not all of their staff are using the technology. Selecting the right system that is tailored to the needs of a company – and employees – is crucial.

5 – Research shows that retailers are ready for a technological boom

The latest tech boom in retail is being driven by “operational efficiency,” as reported by one Study from 2023 done by Incisiv and Verizon. (Source: Supermarket news)

Why this is important for your business:

Are you investing in technology for your store? You should be. By 2025, most retailers expect 70 percent of tasks to be “partially or fully automated.” The use of AI to support operations is expected to grow nine-fold over the next two years. Point of Sale (POS) systems will also expand. Scott Lawrence, a senior vice president of global solutions at Verizon Business, noted that this will be something of a consequence experiment to see if retailers can handle the increased traffic on their system. “The key is to build a network architecture that allows in-store applications to access the right bandwidth at the right time…,” said Lawrence.