An update from UAC Business Service Member – Ingrity

Is Your Business Leaving Critical Data Behind in Third-Party Hosted Software?

A Growing Dependency with Hidden Dangers

In today’s dynamic business environment, small to medium enterprises (SMEs) are increasingly dependent on third-party hosted applications to streamline their operations. These applications, ranging from customer relationship management (CRM) systems to order management tools. While these tools have become essential for daily functions, they also introduce a significant, often overlooked risk: the potential for critical data to be left behind.

Many SMEs fail to recognise that without effective data management strategies, they miss the opportunity to unlock the full value of the data they collect. This oversight can lead to inefficiencies, operational disruptions, and missed opportunities for growth, ultimately leaving businesses unable to capitalise on the competitive advantages that their data should provide.

Software vendors and products tend to have their own lifecycle. For example, BatchBook was a CRM for small businesses, known for its simplicity and integration capabilities. It gained popularity amongst small and medium sized enterprises. However, in 2022, BatchBook announced its closure, leaving its customers with limited time to export their data or find new CRM solutions. The abrupt closure caused frustration and panic amongst customers, especially those who didn’t have a proper backup of their CRM data. Some struggled to export all the necessary information in time to migrate to a new system.

• The Risks of Inadequate Data Management
• Mitigating the Risks
• The Role of Continuous Monitoring and Evaluation
• Case Study: Transitioning from Salesforce to Microsoft Dynamics
• Unlock the Value of Your Data with INGRITY

Read to full article here https://ingrity.com/is-your-business-leaving-critical-data-behind-in-third-party-hosted-software/