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16 Expert Tips For Choosing The Best Software Vendor For Your Business,



Some businesses have in-house IT teams who can build the technology solutions they require to run their business. However, most of the time, companies in need of solutions for their technology can turn to software companies. It’s good that the market is full of vendors that offer solutions that cover everything from managing projects and data analysis (and everything between).

If a company isn’t careful in selecting and evaluating an application vendor, the resulting “solution” can cause more issues than it resolves. It is essential to follow the steps step by step before selecting a vendor to ensure that the solution they offer is the most effective and suitable option for your particular circumstance. Below, the 16 members of the Technology Council share their expertise on the steps companies should follow before negotiating an agreement with a software company.

1. Begin With A Data-Driven Approach

Know what you want to achieve. Start with an approach that is based on data. Find out which specific data set –will later form your business’s rules that will be the most effective to help you with your analytics and ensure your business’s success. Consider data as a source of energy. You cannot feed a gas engine with firewood and expect it to run. You cannot run your business with software that doesn’t provide the precise information you require to succeed.

2. Think In Terms Of Your Entire Tech Ecosystem

Consider the “ecosystem.” The “ecosystem” definition should encompass both the external and internal ecosystems in which the software must work to solve a problem. This is because today’s software world cannot function independently, such as security, data, APIs, processes, and more need to be integrated with the other software tools. Thus, consider the entire process for success.


3. Look For Agnostic, ‘Plug-In’ Solutions

It’s crucial to ensure the vendor’s solution is open and future-proof. You do not want to be locked to a particular platform. Incompatibility and flexibility can result in expensive integration and performance issues later on. I suggest using top-of-the-line solutions that use cloud technology and can connect to your existing infrastructure using no-code solutions.

4. Look For A Platform Solution

Do not look at that “best of breed” solution for all your needs, or you’ll find yourself with so many options that it becomes overwhelming. I’ve experienced this numerous times. Instead, consider an option that is based on a platform. Platforms are always able to cover more applications and make it easier to complete your work.

5. Ensure The Solution Has Strategic Value And That Your Team Can Implement It

In the first place, you must ensure that the software is a strategic asset for your business. It’s also crucial to ensure that your business has the resources and people to incorporate the software into your workflow when it’s installed instead of sitting it around as an award.

6. Take A Look At Their Security Policies And Practices

The most important lesson from the supply chain hacks that have recently occurred (such as those that happened in SolarWinds and Kaseya) is that your security is only safe as the trusted vendors you have. Cybercriminals are increasingly looking for vulnerabilities shared with third parties’ suppliers as an opportunity to attack more extensive networks. Beyond analyzing their infrastructure and systems, companies must also examine their partner companies’ security guidelines and procedures. Carlos Morales, Neustar Security Services.

7. Talk To Multiple Vendors, And Rank Them Via A Matrix

Be sure to talk to at least three different vendors in the area you’re “shopping” for, and do not believe everything is written on the review websites. Some review sites allow businesses to buy positive reviews. After selecting one of the vendors as a finalist, you should conduct at least two references. Please make a list of precisely what you’re looking for, and let each vendor rate themselves in comparison to the other competitors.


8. Ensure Your Needs Align With The Vendor’s Future Roadmap

Check first whether you’re aligned to the business objectives of the vendor to ensure their product’s focus remains relevant in light of your requirements. Then, go through the vendor’s product roadmap to ensure you benefit from their future innovations. Finally, request an initial trial period during which you can test their product with your data, if it is possible. Demos and data samples may produce different results compared to using the software under actual situations. – Arman Eshraghi, Qrvey

9. Determine The Total Final Cost

Assess how much you pay for your equipment for each factor like storage, computing additions, and more. Review the small print and run a reference check with an independent assessment vendor.

10. Don’t Overlook Ongoing Maintenance

A common mistake that companies make is the ongoing maintenance and operation of the product they’ve purchased, whether software as a service or on-premises technology. Make sure that it can solve a business issue and is user-friendly, and also ensure that you can operate and manage it in the long run. For example, can you alter its configuration (does it have a sandbox?) or upgrade it and run it without downtime?

11. Attend One Of Their Events

Ideally, you should attend an event the vendor has planned in which you get to learn directly from their clients who are making use of the solution and what positives and issues they’re facing. Events on the web provide a taste. However, real-time customer meetings are ideal when they are local near you.

12. Speak To Current Customers Whose Business Is Similar To Yours

Review, ask questions, and confirm. Request the names of comparable businesses that the vendor has provided services to. Check out what they offered and then contact them regarding the vendor. In nearly 90% of the instances, the vendors providing services that I required could not provide a list. Requesting this list saved me a great deal of time when choosing an experienced vendor.


13. Don’t Rely Only On The References Provided By The Vendor

Contact existing customers, not just those given by the vendor for reference–to learn more about the “real-life” experiences with the software. One way to start is to note which organizations the software vendor advertises as its customers and use your network to locate the appropriate contact for those businesses. So do not rely solely on the names and brand names that the software vendor provides you with.

14. Insist On A Security Assessment Of Their Code

Vetting companies should provide an in-depth security analysis of their software. Software composition analysis can scan the application’s binary to create a software bill of material and identify weaknesses that are not obvious to the naked eye. Because most software applications contain open-source components and code from third parties, managing embedded risks (such as the recently-discovered Log4j vulnerabilities) is essential.

15. Carefully Review The Terms And Conditions

Read the “Ts and Cs”! Be aware of the conditions and terms of the contract you’re signing. Who are the responsible roles for the solution supplier, the software provider, and your staff? Consider the risks for the undertaking and who will be assuming the risk.

16. Establish Good Working Relationships With The Vendor’s Key Personnel

Often, IT departments choose an “easy” path to purchase through big companies. The IT team and the business executives must collaborate and invest the time and energy in performing the necessary due diligence before making a purchase. Start by building trust and open communication with the vendor’s top staff. They’ll ensure that you benefit from the software.

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Apple Plans To Double Its Digital Advertising Business Workforce.



The move raises industry concerns following the launch of privacy guidelines which make it impossible to create ads that are tailored to iPhone users

Apple plans to more than double its workforce within its rapidly growing digital advertising business in less than 18 months after it enacted radical privacy rules that crippled its larger competitors in the lucrative business.

The iPhone maker has about 250 employees per LinkedIn advertising platforms team. On the Apple careers website, it’s looking to fill additional 216 positions, which is quadruple the 56 positions that it had hired in the latter half of 2020. Apple denied the claims. However, it declined to provide any further details.

The digital advertising industry has been apprehensive over Apple’s plans for advertising since the company introduced privacy regulations this year, which have shaken up the market for digital ads worth $400 billion and made it more challenging to customize ads for Apple’s one billion+ iusers Phone .


Since the new policy was implemented, Facebook parent Meta, Snap and Twitter have lost billions of dollars in revenue and a significant amount in market valuations, even though other contributory factors exist.

“It was almost like a global panic,” Jade Arenstein, global service director at Incubate, a South African-based marketing performance firm, was quoted as saying about the impact of Apple’s recent changes.

The once-flourishing advertising business is “incredibly fast-growing”, according to an ad for jobs. The business has grown from a mere few hundred million dollars in revenue in the last quarter of 2010 to an estimated $5bn in the current year, according to research firm Evercore ISI, which expects Apple to be able to grow its $30 billion advertising revenue within four years.

Compared with Google and Facebook and their 2021 revenue from advertising was $115bn and $209bn. For instance, Apple’s business in advertising is small. The digital advertising industry is worried that it will increase due to establishing rules that critics and rivals believe provide it with an advantage.

“Building new ad systems to effectively compete with incumbents with tens of thousands of employees and 10 to 20 years of maturity would normally be an impossible task,” said Alex Austin, chief executive of the ad tech group Branch. “Unless,” he added, “you were somehow able to disadvantage those competitors on your platform.”


Apple has been for a long time the most prominent Big Tech outlier for not taking part in “surveillance capitalism” — the practice of offering customers free services but making money on their data through targeting ads on them.

“We could make a tonne of money if we monetized our customers — if our customers were our product,” chief executive Tim Cook said in 2018. “We’ve elected not to do that.”

However, with Apple having twice the number of developers who can purchase ads on the App Store over the last two years and preparing plans to expand, the critics are seeing Cook taking a significant turn.

David Steinberg, chief executive of Zeta Global, a marketing technology firm, said Apple had been “Machiavellian” and “brilliant” in implementing privacy regulations that required rivals to revamp their advertising infrastructure while creating an opening to fill the gap.

“They could build out (their advertising business) dramatically (and) the ‘air cover’ is they are protecting the consumer’s privacy,” said the researcher. Added.


Apple did not comment on its long-term plans. The job advertisements tell prospective employees that the company’s goals are nothing more than “redefining advertising” for a “privacy-centric” world.

The 216 positions Apple wants to fill are managers and designers of products, in addition to data engineers and sales experts.

An advertisement for an engineer, released on August 24, is a reference to “Apple’s most confidential and strategic plans” and explains how the company plans to “build the most secure technology-driven, technologically sophisticated . . . Supply (Marketplace) Platform and Demand Side Platform”.

These are the core aspects of an ad tech company that allows advertisers to purchase and sell ads across multiple exchanges, possibly advertising in mobile applications downloaded through the App Store. Apple may be able to consider apps for mobile “first-party” data because all activities take place on the iPhone, which is in line with its privacy regulations which ban third-party apps’ contentful monitoring of users.

The positions are predominantly located in the US. However, there are at least 27 roles in Europe and 12 in China and 12 in India and four located in Japan, as well as two positions in Singapore.


“That’s a giant team — that’s bigger than most small companies,” Arenstein said. Arenstein. “Wherever there is smoke, there is fire, and that’s some smoke.”

Apple has never been averse to advertising by itself. Its CEO Steve Jobs even tried to create an in-app advertising business in 2010, so that iPhone apps would remain completely free. Cook is against how personal information is purchased and traded by opaque third parties without iPhone users’ consent.

Yet, Apple set the rules regarding how advertisements should function and later expanding into this very subject is seen by many as unsatisfactory.

At the moment, it’s more secure — in terms of the economy of surveillance using an Apple phone over one that is a Google phone, as Google has designed its products to support surveillance, while Apple isn’t, in its essence, an advertising firm,” said Claire Atkin co-founder at Check My Ads, a surveillance agency. “But if Apple suddenly delves into that realm, they won’t have a that competitive advantage.”

Apple might be putting its image at risk if regulators and consumers oppose its privacy claims which have been a significant part of the recent iPhone campaigns. If the argument prevails, Apple would have an unobstructed runway.


Margo Kahnrose, Chief Marketing Officer at Skai, an omnichannel advertising platform, has said that she believes it “makes absolute logical sense” for Apple to develop its advertising network, following the lead of Google, Facebook and Amazon.

Adtech’s power has, she explained, for a long time been flowing from the decentralized “open web” to “walled gardens” run by one company that can control how ads are purchased and served, as well as how they are measured and tracked.

“The world has been unnerved by Apple’s ambitions for a long time,” she said. “There are a few companies that have vast quantities of power, and Apple is the one that is sleeping.

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Six Ways To Maintain A Growth Mindset While Running A Business.



To be successful as an entrepreneur, starting your business with the appropriate mentality is essential. A growth-oriented mindset implies always striving to improve the product or service you offer or the ability to communicate with people in your industry. Many companies start as small, but they expand in time to become massive businesses that impact people’s lives in the millions. However, this kind of growth isn’t a quick process – it requires a lot of time and effort, and it’s all with constant improvement.

Six Ways to Maintain a Growth Mindset While Running a Business.

1.) Change your outlook

If you’re in the business of managing, it’s easy to become caught up in the day-to-day and forget about the bigger perspective. However, if you’d like your business to flourish, keeping an attitude of growth is essential. Being able to open your mind to be fully engaged in the things you believe are the best for you is crucial.

2) Are you in your comfort zone?

One of the difficulties of managing a business is it’s easy to get into a routine. Once you’ve discovered a method that works, it might be tempting to stick to it. However, staying with the same formula with different outcomes isn’t intelligent. If you’re looking for your business to expand, make sure you alter things with slight adjustments to ensure that your business feels fresh and exciting.

3.) Be prepared to take the risk

Nobody said creating and running a company was easy, regardless of whether you’re putting together an exercise calendar or an entirely new line of clothing. It’s one of the most challenging tasks you’ll ever have to do. If you want to succeed, you must have a mindset of improvement. Create a staff around you. Find people who can assist your company in its growth. It’s not necessary to shoulder all the responsibility for your company. After all. Make sure you take sensible risks. There is undoubtedly a danger involved in taking risks, but when you take calculated risks, you reap a calculated reward. The most successful entrepreneurs realize that sometimes it takes a long time to bring an idea to fruition. Therefore, they remain in the game and push forward.


4.) Connect with others who are adamant about your abilities

One of the most effective methods to keep a positive mental attitude is to surround yourself with people who are confident in your abilities. If you’re always around optimistic people who believe in your ambitions, It’s easier to stay inspired and push ahead.

5) Discuss your concerns

If you’re in charge of an enterprise, it’s simple to become distracted by the day-to-day and forget about the bigger overall picture. It’s possible to worry about how to make ends meet and meet deadlines or having to deal with demanding customers. Discussing these concerns with the rest of your entrepreneurial friends and colleagues is essential to ensure that things stay on the right track.

6) Be focused on progress, not perfect

When you’re an entrepreneur is effortless to be caught in the pursuit of perfection. You’d like your service or product to look flawless before launching it, but the reality is that it’s impossible to be perfect. It is essential to keep in mind that the pace of progress will always be better than perfect. Start by taking it one day at a. The advantage of keeping a single day in mind at a time is that even should things not go as scheduled. It doesn’t matter since tomorrow is another day to start from scratch. Create workable goals. After creating some feasible goals, please keep track of them and assess how they performed based on outcomes rather than the amount of time and effort poured into them.

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What Is Good Debt and Bad Debt for a Small Business?



There are two kinds of loans for small companies. Find out which one is best and which one is not.

For many people, the term “debt” has negative connotations. However, when setting up a small-sized company, it is not necessary to stay clear of debt completely. There’s “good debt” that is essential for growth when you start an enterprise, but there’s “bad” debt that could cause long-term harm to your financial situation.

The difference between good and bad debt and how to manage your company’s finances to keep them in check.

Good debt in contrast to. Credit card debt What’s the distinction?

Lyle Solomon, principal attorney for Oak View Law Group, states, “good debt returns money to your pocket, but bad debt takes money from your pocket.”


“Debt that increases your future net worth is considered good debt, and debt that reduces your future net value is referred to as bad debt,” Solomon added.

Good debt

Kenneth Hearn, fund manager and director of research for Swiss One Capital AG, describes good small-sized business loans as the money borrowed to finance things that contribute to the development and growth of their company.

“This could be for anything from paying for improvements to meet new safety regulations or expanding your human resources team,” the man explained. “A general rule of ‘good debt’ is debt that is low-interest, or will increase the overall net worth of your business.”

Paying off your debts shows you have a good payment history, which your credit rating can show. The more debt types you can manage responsibly and pay off, the more favourable. This means that more lenders will permit you to get in the future.

Bad debt

When a lender takes out money to purchase an item that doesn’t increase in value or produce revenue, it is often regarded as bad credit. Any loan or borrowed funds that could lower the value of your company’s net future must be avoided. The signs of bad debt are the high-interest cost, fees, and strict loan repayment conditions.


Examples of lousy credit include cash advances and payday loans, usually called “predatory loans.”

“These loans . Target people with bad credit or low income with few options to consider,” Solomon added. Solomon. “[They often] come with exorbitant interest rates and unethical terms.”

Things to think about when making a “good debt an investment

If you are considering getting a loan, entrepreneurs in small businesses should consider the type of debt they’ll be taking on. If the lender takes out a loan for an asset that isn’t going to depreciate, for example, real estate, education, or their own company, on favourable terms, it’s considered to be a good debt.

“Healthy debt entails borrowing money for investing in items that do not depreciate over time,” Solomon explained. Solomon. “Keep the above in mind when you borrow money to run your business. Use the funds to minimize the chance of a catastrophe or loss.”

One approach small business owners may employ when borrowing money is to commit to the lowest rate of interest possible.


“Your interest payments are tax-deductible,” Hearn said. Hearn. “These tax deductions could help you get over the red line and into the realm of profitability. If you manage your cards correctly, interest rates can benefit you rather than against you.”

Strategies to get out of credit

If a small-sized business owner is trying to escape the burden of bad debt, There are options to overcome the situation. First, examine the company’s budget and financial statements.

“Financial management software has come a long way over the past couple of decades, and having proper procedures for data entry and its use from the start of your business is crucial to managing good or bad debt,” Hearn said. Hearn.

For business owners who are in “bad debt,” Solomon advised consolidating debts to one loan.

“Debt consolidation is an intelligent debt management approach to ensure you’re paying the lowest rates and on the most optimal or flexible terms available,” said the expert to CO–. “Such a move would benefit your business, as you can avoid worries regarding payments.”


Companies must ensure they have the funds to repay this consolidating loan, or it could negatively affect their business credit and financial situation. However, if used properly in the right way, consolidating or restructuring multiple debts is an innovative method of managing the finances of small businesses.

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