SMALL BUSINESS TRENDS
NEXT Insurance | September 20, 2023
NEXT Insurance, a renowned digital small business insurer, recently unveiled an innovative new offering that will empower agents to tailor coverage quotes precisely to the unique needs of their small business clientele. NEXT's Coverage Builder represents a significant advancement in granting agents the capability to finely customize small business insurance quotes while still retaining NEXT's hallmark instant bind capabilities. Coverage Builder is designed to be swift, user-friendly, and exclusively tailored for agents before purchase, equipping them with the necessary tools to choose suitable limits and maintain complete control over the coverage they're quoting.
With the introduction of Coverage Builder, agents can set their base policy limits, add or remove specific coverage, or adjust limits post-purchase. This functionality, combined with the convenience of instant underwriting and pricing updates, not only saves agents valuable time but also enables them to make adjustments instantly without the need to pick up the phone, eliminating the need for direct communication with an underwriter.
This represents NEXT's ongoing commitment to supporting its agents, offering them a digitally driven quoting experience that is user-friendly, accessible, and 100% online. Additionally, Coverage Builder will be accessible to all NEXT customers post-purchase, enabling small business owners to tailor their policies with immediate pricing adjustments and seamless policy management.
Cody L Slocum Lammers, Commercial Lines Agent & Broker at Affordable Insurance Solutions, commented,
NEXT's Coverage Builder feature is 100% hassle-free. This new feature sets NEXT Insurance to a new level, above its competitors, as this allows agents the flexibility to customize policies to fit the needs of each individual small business. It's user-friendly and simple to understand- this is truly a game changer for NEXT Insurance agents!
[Source – Cision PR Newswire]
This announcement follows NEXT's recent commercial umbrella/excess liability coverage launch to aid small businesses in their entrepreneurial journey. The digital small business insurer has also made strides by announcing its integration with Ivans Download for General Liability and Workers' Compensation policies and appointing Jack Ramsey as Vice President of Agent Business. These developments underscore NEXT's dedication to its agents and mission to enhance small business clients' insurance purchasing process with a smoother and more intuitive experience.
About NEXT Insurance
NEXT Insurance, a leading digital small business insurer, is spearheading the transformation of small business insurance by offering streamlined, digital, cost-effective, and tailored coverage solutions. With the trust of over 480,000 business proprietors, the company offers policies that are both convenient to purchase and grant uninterrupted access to Live Certificates of Insurance, additional insured, and more. Pioneering an industry historically known for its complexity, NEXT leverages the power of AI and machine learning to simplify the buying process and make affordable coverage accessible. Established in 2016 and headquartered in Palo Alto, the company has garnered a total of $881 million in venture capital funding.
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Technology
Thryv | September 07, 2023
Thryv Holdings, Inc., a prominent provider of software platforms for small and medium-sized businesses, recently garnered significant industry recognition for its award-winning SaaS technology. These accolades include Best SaaS Product for SMBs and SMEs, Best SMB CRM Solution, and Best Business Management Software Platform, received from esteemed awards programs such as the World Future Awards, MarTech Breakthrough Awards, and the 2023 SaaS Awards, as well as its consistent ranking in the top 10 of Selling Power's 50 Best Companies to Sell for 2023.
Here are some key highlights of the recognition:
Best SMB CRM Solution: Thryv Marketing Center was honored with this prestigious award from the MarTech Breakthrough Awards program, a renowned market intelligence organization that acknowledges top companies, products, and technologies in the global marketing, sales, and advertising technology sectors. This recognition comes after being selected as one of the best among more than 3,500 nominations spanning 19 countries.
Best Business Management Software Platform: Thryv Business Center was recognized with this accolade at the World Future Awards, highlighting it among the best products, software, and services poised to reshape the global economy and shape the future landscape.
Best SaaS Product for Small Business and SMEs: The 2023 SaaS Awards recognized Thryv's SaaS product as one of the finest in the world of software and Software-as-Service.
Top 8 Global Ranking: Thryv secured the 8th position in the highly competitive Selling Power's 50 Best Companies to Sell for 2023 list. This marks the company's sixth consecutive appearance on the list, with each year showing an improvement in its ranking.
Ryan Cantor, Thryv’s Chief Product Officer, commented,
“Our SaaS platform helps business owners across the globe to quickly and easily build, manage and strengthen customer relationships, and ultimately grow their footprints. This latest recognition is testament to our talented team, innovative SaaS technology and great customers, and it reinforces how Thryv helps small businesses succeed.”
(Source - Business Wire)
About Thryv Holdings, Inc.
Thryv Holdings, Inc. is a leading small business management software solutions provider, serving a diverse clientele of over 55,000 small to medium-sized businesses (SMBs). Its acclaimed SaaS platform, Thryv, empowers these enterprises with the essential tools to modernize and grow their operations, enabling them to navigate and succeed in today's dynamic economic landscape. Additionally, the company oversees the digital and print presence of more than 400,000 SMBs, harnessing proprietary local online and print directories, along with integration into popular social media and search engines to foster connections with local consumers. This holistic approach aids businesses in acquiring new customers and bolstering their bottom line, cementing Thryv Holdings, Inc.'s commitment to providing comprehensive and innovative solutions that empower SMBs to thrive in a fiercely competitive market.
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BUSINESS STRATEGY
Calix | September 18, 2023
Calix, Inc. has announced the launch of Calix SmartBiz in the United Kingdom (UK). This recent development empowers alternative service providers (altnets) to expand their markets with a tailored managed service explicitly designed to cater to the unique requirements of the 5.5 million small and medium-sized enterprises (SMEs) operating within the UK.
SmartBiz, on the Calix broadband platform, encompasses all the essential elements altnets need to foster SME growth within their communities. This includes managed Wi-Fi services (both indoor and outdoor), top-notch network security, business productivity applications, and high-speed internet access.
Historically, altnets lacked access to a broadband solution designed explicitly for SMEs, leaving them with the choice of repurposing residential products or downsizing complex and costly enterprise-grade solutions to accommodate the SME market. The introduction of SmartBiz provides altnets with a turnkey solution that not only enables the creation of additional revenue streams but also facilitates the expansion of their subscriber base, empowering them to compete more effectively within the fiercely competitive broadband markets.
SmartBiz comprises two main components: SmartBizWorx productivity software and the CommandWorx mobile app. CommandWorx is seamlessly integrated with the award-winning Calix Wi-Fi systems and Calix Support Cloud, allowing for self-service access to SmartBiz and its associated features. Small business owners can conveniently monitor and manage SmartBiz from any location using a user-friendly app tailored to their specific needs. Furthermore, a customizable customer Wi-Fi portal empowers business owners to offer secure and convenient internet access while enhancing brand loyalty.
Eoin Heaney, VP of international at Calix, stated:
SMEs underpin the UK economy. With an annual turnover of £1.4 trillion, they account for more than 30 percent of UK revenue and employ almost half the country's workforce.
[Source: Business Wire]
He also pointed out that small business owners face numerous challenges, including the search for suitable productivity solutions to support their growth. With SmartBiz, altnets can now offer SMEs the essential productivity capabilities they require, eliminating the need for dedicated IT staff or the typically associated hefty price tag.
Furthermore, Heaney highlighted that SmartBiz represents an opportunity for altnets to expand their business or explore new markets. He expressed enthusiasm about collaborating with innovative altnets such as Connexin, who provide distinctive managed services that empower their SME customers to focus on their core competency, which is running their own businesses.
SmartBiz also equips small business owners with:
Dedicated Networks for Enhanced Productivity:With network access control, SmartBiz offers pre-configured, dedicated primary, staff, point-of-sale, and customer networks. This ensures that every user enjoys appropriate access to the network resources they require, significantly improving role efficiency and overall productivity.
Robust Network-Level Security:To safeguard staff, customers, and critical business infrastructure from cyber threats, SmartBiz delivers robust security features alongside network-specific, customizable content restrictions.
Network Resilience:Recognizing that network outages can prove catastrophic for SMEs, SmartBiz provides automatic cellular failover, ensuring that SMEs can continue their operations uninterrupted, maintaining productivity levels, and preventing potential losses, which can be as high as £20,000 per hour of downtime.
About Calix
Calix is a leading global provider of cloud and software platforms, systems, and services essential for the realization of the unified access network and intelligent premises of the future. With a forward-looking perspective, it empowers its customers to forge the networks of tomorrow by adopting a DevOps operating model, enabling them to optimize the subscriber experience through the strategic application of big data analytics. Furthermore, the company simplifies the intricacies of the smart home and business, converting them into lucrative avenues for generating new streams of revenue.
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TECHNOLOGY
PR Newswire | September 29, 2023
Norton, a leading consumer Cyber Safety brand of Gen™ (NASDAQ: GEN), today announced Norton Small Business, the all-in-one cybersecurity solution to help entrepreneurs and small business owners protect their financial futures. While nearly 90%1 of businesses globally are small businesses - 99.9% in the US2 - many lack the means to protect their digital environments. Norton Small Business makes triple-lock protection accessible for small businesses to safeguard their team's online activities, devices and customer data in an easy, all-in-one cybersecurity solution.
"Owning a very small business often means each member of the team wears different hats, and usually cybersecurity expert isn't one of them," said Massimo Rapparini, General Manager & Head of Small Business Safety at Gen. "Unfortunately, cybercriminals are aware of this and often target such businesses – more than half (57%) of small businesses experienced a security, data breach or both in 20223. For entrepreneurs and small businesses, falling for just one phishing email can have a devastating impact."
Scams Taking Down Small Businesses
Small businesses face a barrage of scams and phishing threats, just like consumers. In fact, they are targeted more than large companies. Companies with fewer than 100 employees face an average of 350% more social engineering attacks than larger enterprises4, and according to data from Gen, cyber threats that rely on manipulating people account for 85% of attacks on small businesses in the US. Of these threats, phishing – for example, emails trying to trick you into clicking a link or transferring money – is the most common way cybercriminals try to access small business systems, private data, financials and intellectual property.
Businesses with under 10 employees often lack IT support, putting companies at great risk if cybercriminal attacks are successful – and many are. In 2020 alone, there were more than 700,000 attacks against small businesses totaling $2.8 billion in damages5. Norton Small Business helps small businesses disaster-proof their critical data to minimize the risk of financial loss.
Entrepreneurs Pursue Financial Freedom
Entrepreneurs often start their own businesses in pursuit of financial freedom and invest significant time, energy and personal savings to build their business. In fact, 61% of Gen Z small business owners believe entrepreneurship will lead them to retirement earlier than if they had gone straight to the corporate world6. Yet, small businesses are being heavily targeted by cybercriminals, leaving them at much higher risk of collapsing compared to larger firms when hit by a cyberattack.
With heightened risk and so much at stake, it's surprising that about half of businesses with under 50 employees have no cybersecurity budget at all7. The effects of a cyberattack extend beyond financial consequences, and it's time cybersecurity is pushed to the forefront of small business priorities.
Setting Up Your One-Person IT Department
Norton is your go-to partner to make small business cybersecurity simple with an all-in-one solution that provides 24/7 cybersecurity protection and a variety of features, including:
Secure Browser, Password Manager and VPN (virtual private network) to help secure day-to-day online activities
Automated PC cleaning and optimization to keep healthier PCs for longer
Secure Cloud Backup for PCs to help reduce the risk of loss of business data
Software and driver updaters to help keep software up to date, so there are fewer vulnerabilities for cybercriminals to exploit
IT coverage and maintenance for up to 20 devices
A 100% Virus Protection Promise8
"We've built our small business products and services with the same approach in mind as we do with our consumer portfolio, so entrepreneurs don't need to worry about becoming cybersecurity experts," said Rapparini. "Norton is here to make cybersecurity accessible and easy so they can focus on building thriving businesses."
Norton recommends these top 10 tips to protect your small business:
Learn tospot signs of phishing andteach your employees
Only click links or download attachments from known sources
Avoid sharing personal information or private company data over email
Alwayskeep your operating system, applications and drivers up-to-date
Make sure yourWiFi network is protected with a strong password
Regularlyback up your data
Require employees to use aVPN when doing company work on a public WiFi network (think airports and coffee shops)
Alwaysuse multi-factor-authenticationfor an extra layer of protection
Don't neglect mobile devices – make sure they are password protected and use security software
Invest in a cybersecurity solution such as Norton Small Business
About Norton
Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to more than 500 million users in more than 150 countries.
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