This month, we covered how APIs harmonize your business. We compared and contrasted two competing approaches to user accounts and customer relationship monetization. We contemplated the trials and tribulations of undertaking a re-platforming project. Finally, our weekly Eye Candy posts explored data driven content and marketing proof elements for the most satisfying and credible content. We weren’t the only outlets to cover these topics. For our February Digest, enjoy these selections from across the Internet.
Internet of Things (IoT)
An AT&T study found that while many businesses are jumping into the Internet of Things, few have considered the significant security challenges that face connected device ecosystems. The survey found that, “only 14 percent of companies looking at or already using connected devices have auditing processes in place to track those devices and their security.” The study also found companies are behind in incorporating important stake holders in their discussion of IoT security, saying, “Only 17 percent of companies surveyed in the study involve their boards of directors when considering IoT security.”
Colm Lennon, founder of Haka Products, a Chicago startup that helps companies take new products and innovations to market, points out that without leadership involved, departments vital to the security of connected devices will fail to work together. “All of the roles in this connected Internet of Things space, they have to really work closely together if the company wants to innovate at great speed but also innovate with the intent of doing so to protect their customers, to protect themselves and to protect their partners,” he said. “It can’t just be engineering running with this thing and learning it on their own.”
For any business supporting connected devices, the key to securing your ecosystem is in crafting an agile strategy that involves all stakeholders. Succeeding in data security means increased customer loyalty and satisfaction while hedging against the massive financial downsides to suffering a serious breach.
The Future of Mobile Purchases
According to eMarketer’s recent study, 51.2 percent of digital buyers will use a smartphone for their transaction by 2017. They also say 2017 will be a benchmark year as $75.5 billion, or 50 percent of all retail mcommerce sales, will be transacted on smartphones. That will be up from 48 percent in 2016.
These trends are important for any digital goods vendor looking to capture the attention of consumers. Having a mobile optimized site or dedicated mobile app will be essential for future success.
According to Yory Wurmser, retail analyst for eMarketer, “In order to get people to make purchases on their phones, retailers need to make it as easy as possible for consumers … That means fully optimized mobile websites, a checkout process with few steps, and fully personalized merchandising.”
CIO brings us an important reminder that APIs, like all other technical assets, can suffer from deprecation, or technical debt. In other words, antiquated code in your system, which may not be compatible with newer technologies being employed across the market, demands your programmers’ attention — either to fix, revise or replace it. The mere presense of outdated code represents a liability and a future expense. This is true for your APIs too.
In an interview with Brian Pontarelli, CEO of Inversoft, we learn about keeping APIs current and their users up-to-date. Even with the greatest care, sometimes the systems break down. “We try to do feature upgrades with API compatibility four to six times a year. We break our API compatibility once every two years,” said Pontarelli.
For any executives involved in the process, Pontarelli’s tip is simple: stay current. “If you’re staying current, the pain of a deprecation is going to be less than if you’re years behind. It takes communication and planning. I think that’s key to any relationship between a vendor and a company.”
Global Tax Compliance
This piece from Taxamo looks at recent legislation in several countries that taxes digital goods and how their business is helping the market cope. As the digital goods industry grows, governments don’t want to be left out of the game — and it’s a big game. “Norway, one of the pioneers of such taxation, introduced its value-added tax on eServices (VOES) scheme in July 2011. It has since recouped €283.5m, as of August 2015.”
And this trend is likely to continue. Taxamo notes, “As traditional tax bases begin to erode, tax authorities across the globe are recalibrating their tax collection systems to include new types of services. There has been a domino effect of tax authorities adopting … digital VAT and this trend is not likely to change in the coming years.”
Taxamo shares this handy infographic (see below). See if your business has been touched by updated tax regulations.
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