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2023 wasn’t a comfortable year for business. Companies worldwide switched to remote working and had to adapt to the new (online) environment. With this transition came an increase in cybercrime issues and data breaches.
In the first half of 2023, data breaches exposed 36 billion records. And 58% of them involved the personal data of users. The number of phishing attacks went up too –one in every 4,200 emails was a scam.Top 7 Privacy Trends for Companies to Look Out for in 2023
When updating to a hosted dedicated host, it’s crucial to keep in mind that not all the dedicated servers are the same and neither would be the hosting solutions provided by service suppliers. Since it can be tricky to be aware of the essential qualities to search for when locating a supplier, we have assembled this listing of those we believe are the most crucial. They will provide you much clearer insight into what to search for.1. The Year of Privacy Laws
General Data Protection Regulation, or GDPR, put into action in 2023, was one of the first and landmark laws focused on consumers’ digital privacy rights.
It obliged companies that gather and utilize people’s information to record data breaches and gave consumers more rights to restrain the organization’s data on them, e.g., to need to delete their information (“the right to be forgotten”). California implemented an identical judgment (CCPA) in June 2023.
In 2023 India’s solitude dictates will probably become legislation, and more nations will follow. Based on Gartner, 65 percent of the planet’s inhabitants will have their information covered under privacy legislation by 2023.2. App Tracking Policies Developed
Also read: Top 9 WordPress Lead Generation Plugins in 20233. There Will Be a Further Increase in Data Breaches
In 2023, you will find 331 data breach alarms every day across Europe, a 19% growth since 2023. Researchers anticipate the number of data breaches to leap up much more in 2023. The insider threat will rise, Forrester forecasts the share of information breaches brought on by insiders increases to 33 percent in 2023.
Now 45 percent of all Americans are more concerned about their online privacy than they were a year ago. To protect themselves from information breaches, in 2023 users will further adopt applications that help them protect their private information.
By way of instance, in 2023, Virtual Private Network (VPN) use jumped by 27.1percent, and that season the number of people who use VPNs will keep growing.4. Companies will Further Implement User Data Privacy Automation
GDPR provides users the right to request a company to reveal all of the information they gathered. And, if the user needs it, the corporation is going to need to delete it entirely. To deal with these requests, businesses introduce solitude automation features that’ll automatically collect, put together and present the information to the consumer.
Additionally, these attributes will delete all of the information if necessary. Businesses might develop them look for outsourcing or B2B solutions.
Primarily, an individual needs to get in touch with our service with a need to present their information or delete it.
Our engineers run a unique script that hunts for all of the information which may be associated with the user. Following the script finds that the information, can either delete it or set in a distinctive mobile record, which we will send to the consumer.5. Cybersecurity Focus Due to Increased Cloud Adoption
At precisely the same time, external strikes on cloud balances increased by 630 percent. These strikes affected authorities, manufacturing, and transport the most. At the start of this calendar year, experts discovered malware that targeted Apple’s latest M1 chip.
In 2023 cybersecurity will turn into one of the primary centers of companies, particularly small and mid-century ones. Businesses want to apply new tools and practices to safeguard their remote workspaces.
By way of instance, employ secure gateways for their cloud solutions by allowing access to them just using the company VPN. They’ll also present multi-factor authentication (MFA) when they have not already to prevent compromised workers’ credentials used by hackers.
Even though the clinic is very popular with large IT companies, less than a third of workers used this kind of authentication in smaller businesses in 2023.
Also read: Top 9 WordPress Lead Generation Plugins in 20236. Companies will Adopt Zero-Trust Architecture
Normally, businesses stored their information on-premise servers, and any work that had been present at work had access to them. The bodily Security Perimeter shielded the business enterprise.
However, with much more workers working remotely, some as salespeople, and much more valuable information being saved on the cloud, even the security of their Security Perimeter is suspicious, and lots of defense holes bugs can exploit look. That is when a zero-trust structure gets beneficial.
To perform it, businesses can use bespoke enterprise applications or construct their very own Single Sign-On (SSO) servers. MacPaw, by way of instance, utilizes a centralized SSO way to check the identity of the group members.7. Consumer Privacy to Become a Competitive Advantage
Based on Cisco, 84 percent of consumers care about the privacy of the information. More than 50 percent of these will change companies due to their data policies or information-sharing practices. In 2023 companies (particularly those working primarily on the internet ) will have to admit their customers care about solitude. If their customers are not happy with the way the provider handles their information, they’ll go to rivals with better privacy policies.
As soon as we develop our services and products, we ensure that they comply with all the conventional privacy regulations and manage privacy-based requests expeditiously. In 2023 we found ClearVPN — a fresh approach to VPN-based solutions for routine users.To Sum It Up
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In the past year, the Covid-19 pandemic has accelerated the shift to digital health and drove unprecedented investments in the health tech space. The healthcare data analytics companies have gathered a substantial volume of the amount in the first quarter of 2023. Some analysts predicted that the pandemic inspired a decline in investments, but 2023 has proven to be a successful year for big venture investments and is breaking all records. Analytics Insight presents the top digital health data analytics funding that took place in 2023.• Komodo Health
Amount Raised: US$220M Transaction Type: Series E Key Investor(s): Tiger Global Management, Casdin Capital, and others Komodo Health is an AI-enabled data analytics software platform for healthcare providers. It brings transparency and market intelligence to healthcare and life sciences. The software platform applies AI and other disruptive technologies to its healthcare map.• Ro
Amount Raised: US$500M Transaction Type: Series D Key Investor(s): General Catalyst, TQ Ventures, and others Ro is a New-York based startup that includes online pharmacy services, telehealth, and in-home care. It is a telehealth company with three online health clinics, and currently, it is focusing on expanding into remote monitoring for chronic conditions.• Evidation Health
Amount Raised: US$153M Transaction Type: Series E Key Investor(s): OMERS Growth Equity, and others It is a health data analytics company that aims to empower its users to participate in better health outcomes. Evidation measures health in everyday life and enables anyone to participate in its groundbreaking research and health programs.• Innovaccer
Amount Raised: US$105M Transaction Type: Series D Key Investor(s): Tiger Global Management, and others
In the past year, the Covid-19 pandemic has accelerated the shift to digital health and drove unprecedented investments in the health tech space. The healthcare data analytics companies have gathered a substantial volume of the amount in the first quarter of 2023. Some analysts predicted that the pandemic inspired a decline in investments, but 2023 has proven to be a successful year for big venture investments and is breaking all records. Analytics Insight presents the top digital health data analytics funding that took place in 2023.Amount Raised: US$220M Transaction Type: Series E Key Investor(s): Tiger Global Management, Casdin Capital, and others Komodo Health is an AI-enabled data analytics software platform for healthcare providers. It brings transparency and market intelligence to healthcare and life sciences. The software platform applies AI and other disruptive technologies to its healthcare map.Amount Raised: US$500M Transaction Type: Series D Key Investor(s): General Catalyst, TQ Ventures, and others Ro is a New-York based startup that includes online pharmacy services, telehealth, and in-home care. It is a telehealth company with three online health clinics, and currently, it is focusing on expanding into remote monitoring for chronic conditions.Amount Raised: US$153M Transaction Type: Series E Key Investor(s): OMERS Growth Equity, and others It is a health data analytics company that aims to empower its users to participate in better health outcomes. Evidation measures health in everyday life and enables anyone to participate in its groundbreaking research and health programs.Amount Raised: US$105M Transaction Type: Series D Key Investor(s): Tiger Global Management, and others Innovaccer is a healthcare data startup. It delivers healthcare through pioneering analytics and transparent data. It aims to fully use the data that the industry collects and transform care delivery to work as one.
5 trends Email marketers need to stay on top of in 2023 and a couple of things you can safely ignore…
As we move from one year to the next, the heart of (email) marketing remains the same. It is about providing customer-centric experiences. For email experiences, this is the mantra of right message, right person, right time. The closer you get to this the better the results. Each year
Download Expert Member resource – Email Trends: A visual Guide
To understand the latest best practice to do this we selected some of the key trends in email marketing and then asked 10 email marketing specialists from around the world to give their examples and recommendations..
This is simple to say, but has been incredibly hard to deliver. Broadcast email has been so effective because of the high cost and limited accuracy of solutions to get right message, right time and right person. That’s changing, but don’t dump your broadcast activity just yet.Trend 1 – Targeting
Capturing user interests with preference centres is dead in all but a few specialised cases, or used as a last ditch recovery attempt as part of an unsubscribe opt-down. Brands not using behaviour in 2023 will be brands stuck in the past.
The cost of doing this is coming down to levels that means there is ROI in the extra effort needed. Some ESPs are building in such capabilities, even MailChimp added behaviourally generated product recommends in 2023. There are an increasing number of third-party solutions designed to work with any ESP that add this capability too.
Brands with a very large number of SKUs, or highly varied content and a diverse audience are behaviour to target content within emails. Highly dynamic emails in which much if not all of the content is specific to the individual. This is modern day segmentation.
eBay is a great example of the challenge and solution. eBay emails are full of content target based on personal behaviours; items browsed, purchased, added to watch lists or recommended based on others with similar behaviours. With the range of products on eBay and a huge diverse customer base this is the only way eBay can maintain relevance at scale.
I expect to see more brands of medium scale adding in blocks of behavioural driven content, such as recommended items, to classically generated static content.
For brands in niche markets with smaller highly focussed lists and limited product ranges then behavioural targeting of content is not as critical but behaviour is beneficial to use in the next trend. Automation.
However, don’t expect 2023 (or 2023… or possibly ever) to see perfection in technology for getting the right message/person/time combination. Relatively untargeted broadcast communication continues to have a place as part of the mix in 2023. A means to learn and elicit new behaviours.
The same behavioural data also naturally allows more lifecycle marketing; treating suspects, prospects, new customers, regular, lapsing and lapsed appropriately. Turning a one-time buyer in a multi-purchaser is the initial starting point for anyone who doesn’t yet have any lifecycle targeting.
Personalised discount offers fit hand in glove fit with lifecycle marketing. Who gets a discount, by how much and when individually targeted based on the lifecycle using and traditional RFM models. However, personalised offers are proving slow to become wide spread due to the relatively low penetration of capable solutions. The trend in 2023 will be for an increase but likely to remain at a small percentage of brands with this capability.
To review the options, take a look at these 6 email segmentation and targeting options.Trend 2 – Automation
Rather than switching to automation, brands should be supplementing existing email activity and blending in automation programs to supplement broadcast activity.
In fact, many brands already have elements of automation included in their email programmes and they will be adding to this in 2023. But due to inherent limitations in email automation, nobody should be consider stopping use of using any broadcast, albeit broadcast content driven by behavioural data as in trend 1.
The best trigger points for automation are those which show high intent for conversion and happen with reasonable frequency. For example, someone adding a product to their wish list could be a great trigger point, but if your customer base almost never does that then such a trigger point has little value.Trend 3 – Inbox placement and deliverability
The main ISPs have been hugely successful over the last few years with filter algorithm development. Indiscriminate and illegally sent email has been beaten. Whilst users may still see a little spam, what they don’t see is the massive amount that never gets to their inbox or even their junk folder.
Reputation of sending IP addresses and domains are the main drivers of inbox placement at the major ISPs.
B2B spam filtering may have lagged behind the sophistication of Gmail, Microsoft and Yahoo algorithms but that’s changed. In addition to the reputation sharing B2B filtering solutions such as Barracuda and Cloudmark there is a strong trend for companies to outsource email services to Office 365 and G-Suite (formally Google for Work). Gartner report 13% of public companies use these services. And this number is growing.
This means the same filtering and globally shared reputation based approach applies to B2B. The bar is rising on the standards needed for B2B brands to get to the inbox. Poorly permissioned, third party permissioned or sending on opt-out basis is going to be an increasing challenge for B2B.
As the ISPs continue to finesse algorithms they are recognise that one person’s spam is another person’s ham. Filter rules will work increasingly at the personal level and may lead to filtering of permission-based email from the inboxes of the users that are consistently ignoring the brand.
Seed list based inbox monitoring tools no longer give usable inbox placement results. Inbox placement is best monitored by tracking open rates over time by domain – a report that currently not all ESPs provide. The trend is for more brands to make use of the free Google Postmaster report to track their reputation with Gmail.
This last year has seen a noticeable increase in email list bombing. The resulting trend is going to be increased need to use reCAPTCHA on subscribe forms and/or use of double opt-in processes.
Getting to the inbox won’t be challenge for brands who work on the trends 1 and 2 above, but continuing with the status quo will mean more challenges to inbox placement.Trend 4 – Data regulation and privacy
It’s clear that regulation is going in one direction only, both in the EU and worldwide. Permission is getting stricter; what marketers can do with data is going to be more tightly regulated.
In Europe the General Data Protection Regulation (GDPR) is agreed. We can expect to see privacy regulation changes too, as it needs to keep in step with data protection.
The ICO has confirmed that GDPR will be adopted, as implementation is required before the Brexit timetable. Even after a Brexit has been completed any brands marketing into the EU will need to obey GDPR. The long term worst case for brands could be obeying GDPR for EU residents and different regulations for UK.
In the UK the ICO has issued more fines for illegal marketing this year than ever before and we can expect to see even more fines in 2023.
Whilst the ICO focus has been on the area of most frustration to consumers, illegal phone and SMS campaigns, the Telegraph Media Group were fined £30,000 for sending an email with content for which they did not have permission. Permission is limited to the scope given at time of opt-in.
As the Digital Economy Bill and GDPR make their way into UK law, within the next two years, the requirement for unambiguous consent looks like it may end the practice of pre-ticked check boxes for email permission during a purchase. Using an un-checked box that can be easily ignored will slash list growth and marketers are going to have to work harder at growth and find stronger reasons to gain permission. The change might be to requiring an explicit yes or no to force an active choice, so that the option of permission can’t be ignored.
The ongoing situation with Safe Harbor being declared insufficient for passing data was resolved in 2023 with the EU Privacy Shield agreement. Right now EU brands using services that places their data on servers in the US have an issue.Trend 5 – Email creatives
A few brands have experimented with pushing the envelope of email design, such as creating carousel type elements, hamburger menus and interactive features in their emails. Often called interactive emails.
Carousels have been proven by CRO experts to be bad on webpages, why should they be a good thing in emails? Whilst hamburger menus are possible in email, these have been shown to make content harder to discover by Nielsen.
Also, not all email clients are able to support the very leading edge approaches, Gmail in particular. Though Google is moving to make Gmail support the latest standards, expect more improvements in 2023.
You might decide 2023 is not the year to experiment with interactive emails if you’ve limited resource and wait for a better understanding of what interactive elements improve email rather than just look flashy.
Expect to see the trend for use of animation and to a lesser extent video to continue in 2023. The key is to make the animation support the message and capture imagination, not just add a pointless decorative element.
When it comes to copy the trend for enterprise brands to get computer support of copy will continue. Solutions such as Persado, Phrasee or virtual testing with Touchstone.
After the initial big splash about smart watches there is still no sign of a big impact to email marketing. You’ve bigger things to win on in 2023 than worrying about if your emails are good for smart watch users.
Perhaps Google Home Assistant and Amazon Echo will start reading out your emails. If and when this becomes common, then subject lines may need to become more descriptive as voice control is used to triage emails. Again, not something for 2023! But check back next year…
For even more thoughts on email marketing in year to come, Jordie van Rijn compiled several predictions and forecasts into an overview of the future of email marketing.
Big Data just keeps getting bigger, in a popularity sense. A new IDC report predicts that the Big Data and business analytics market will grow to $203 billion by 2023, double the $112 billion in 2023.
The banking industry is projected to lead the drive and spend the most, which is not surprising, while IT and businesses services will lead most of the tech investing. Overall, IDC finds that the banking, discrete manufacturing, process manufacturing, federal/central government, and professional services will account for about 50% of the overall spending.
Not surprisingly, some of the biggest big data analytics spending — about $60 billion — will go toward reporting and analysis tools. That’s what analytics is all about, after all. Hardware investment will reach nearly $30 billion by 2023.
So as Big Data grows, what will be the major trends? In talking to experts and surveying the research reports, a few patterns emerged.
2) Machine Learning: Big Data solutions will increasingly rely on automated analysis using machine learning techniques like pattern identification and anomaly detection to sort through the vast quantities of data.
3) Predictive analytics: Machine learning is not just for historical analysis, but also can be used to predict future data points. That will start with basic ‘straight-line’ prediction, deducing B from A. But it will eventually grow and become more sophisticated by detecting patterns and anomalies that are about to happen too.
4) Security analytics: To some degree this aready has a significant prescence. Security software, especially intrusion detection, has learned to spot suspicious and anomalous behavior. Big Data, with all of its source inputs, needs to be secured and there will be greater emphasis on securing the data itself. The same processing power and software analytics used to analyze the data will also be used for rapid detection and adaptive responses.
5) The bar is raised: Traditional programmers will have to add gain data science skills to their repertory in order to stay relevant and employable. But just like many programmers are self-taught, there will be a rise in data scientists from nontraditional professional backgrounds, including self-taught data scientists.
6) The old guard fades: A 2023 report from Gartner found Hadoop was fading in popularity in favor of real-time analytics like Apache Spark. Hadoop was, after all, a batch process run overnight. People want answers in real time. So Hadoop, MapReduce, HBase and HDFS are all going to continue to fade in favor of faster technologies.
7) No more hype: Big Data has faded as a buzzword and is now just another technology like RDBMS and CRM. That means the technology has settled into the enterprise as another tool brought to bear. It’s now a maturing product, free of the hype that can be distracting.
8) More Data Scientists: The Data Scientist is probably the most in-demand technologist out there, with people who qualify commanding a significant salary. Nature abhors a vacuum and you will see more people trying to gain Data Scientist skills. Some will go the self-taught route, which is how many programmers acquired their skills in the first place, while others will get training via crowdsourcing.
9) IoT + BD = soulmates: millions of Internet-connected devices, from wearables to factory equipment, will generate massive amounts of data. This will lead to all kinds of feedback, like machine performance, which in turn will lead to optimized performance and earlier warnings before failure, reducing downtime and expenses.
10) The lake gains power: Data lakes, massive repositories of information, have been around for a while but mostly it’s just a store with little idea how to use it. But as organizations demand quicker answers, they will turn to the data lake for those answers.
11) Real time is hot: In a survey of data architects, IT managers, and BI analysts, nearly 70% of the respondents favored Spark over MapReduce. The reason is clear: Spark is in-memory, real time stream processing while MapReduce is batch processing usually done overnight or during off-peak hours. Real-time is in, hours-old data is out.
12) Metadata catalogs: You can gather a lot of data with Hadoop but you can’t always process it, or even find what you need in all that information. Enter Metadata Catalogs, a simple concept where aspects of Big Data analytics, like data quality and security, are stored in a catalog. They catalog files using tags, uncover relationships between data assets, and even provide query suggestions. There are a number of companies offering data cataloging software for Hadoop, plus there is an open source project, Apache Atlas.
13) AI explodes: Artificial intelligence, and its cousin machine learning, will see tremendous growth because there is simply too much data coming in to be analyzed to wait for human eyes. More must be automated for faster responses. This is especially true with the massive amounts of data generated by IoT devices.
14) Dashboard maturity: With Big Data still in its early years, there are a lot of technologies that have yet to mature. You just can’t rush some things. One of them is the right tools to easily translate the data into something useful. Analysts predict that dashboards will finally get some attention from startups like DataHero, Domo, and Looker, among others, that will offer more powerful tools of analysis.
15) Privacy clash: With all the data being gathered, some governments may put the brakes on things for a variety of reasons. There have been numerous government agency hacks and questions about the 2023 Presidential election. This may result on restrictions from the government on how data is gathered and used. Plus, the EU has set some tough new privacy laws regarding how data is used and how models are built, set to take effect in January 2023. The impact is not yet known, but in the future, data might be harder to come by or use.
16) Digital assistants: Digital voice assistants like Amazon Echo and Alexa and Google Home and Chromecast will be the next generation of data gathering, along with Apple Siri and Microsoft Cortana. Don’t think they won’t. These are “always listening” devices used to help people make purchase and other consumption decisions. They will become a data source at least for their providers.
17) In-memory everything: Memory has up to now been relatively cheap, and since 64-bit processors can access up to 16 exabytes of memory, server vendors are cramming as much DRAM into these things as possible. Whether in the cloud or on-premises, memory footprints are exploding, and that’s making way for more real-time analytics like Spark. Working in memory is at three orders of magnitude faster than going to disk and everyone wants more speed.
A non-ideal HR outsourcing service could expose your private data and pose a security risk. Some HR services offer limited choices and take too long to fix trivial issues. Even after paying higher costs for outsourcing, your employees would be disappointed with HR.
However, having the correct HR management service can be a cost-effective way to handle various HR tasks like payroll management, employee benefits, training, workflow automation, etc. We have researched over 50 HR outsourcing companies and handpicked the 8 best ones for businesses of all sizes. Our research involved evaluating apps based on their knowledge, support, technology stack, PEO, amongst other parameters.Best Human Resources Outsourcing Companies
“You should hire an HR outsourcing service if you struggle to handle employees or lack the finances to fund an in-house HR setup. The right HR service will optimize workflow, automate recruitment/onboarding, perform payroll management, etc. Choosing the service that can take care of everything and lets you focus on what matters the most to you is always recommended.”
This arrangement is effective as the third party mainly works on growth-related objectives. Along with hiring, these companies also take care of onboarding, employee training, payroll, tax administration, etc. Overall, it is a centralized platform for all your HR needs, saving you time and money.
Here are the best HR services:
Selecting an exemplary outsourcing HR service isn’t easy.
Here are essential factors that help you to select the best HR outsourcing services for your business:
Cost per employee: Most HR services have basic and set costs per additional employee. It would help if you tried to find a lower-priced human resource management service.
Guidance: Small and medium businesses often lack the experience of running businesses and don’t have dedicated professionals to guide them in compliance and safety. The best outsourcing HR services provide 24/7 guidance for HR, payroll, HRIS and more.
Integrations: You must select an HR service that integrates well with your existing technology stack and services so that you can easily streamline your workflow.
Knowledge Base: The knowledge base helps businesses learn various aspects of HR and allows business owners to find expert answers/recommendations to their problems.
The top HR outsourcing companies can help you with the following HR functions:
Recruitment/onboarding: It helps you to post job openings on popular job boards, streamline application management, and helps in smooth paper-less onboarding.
Benefits Administration: Manage employee benefits such as life/health insurance, paid leaves, 401(k)s, and more.
Internal Communication: Communicate decisions, policy changes, grant permissions, monitor activities, etc., with their robust mobile applications.
Surveys: This helps you conduct regular anonymous pulse surveys to get proper feedback and better understand your employee’s needs.
Payroll: They help you manage salaries, compensations, and reimbursements of all employees, contractors, and freelancers.
Tax Filings: HR outsourcing companies handle the tax payments and filings for local, state, and federal tax forms.1) Rippling PEO – Best technology-driven HR solutions
Rippling is one of the best HR outsourcing services, with support for tracking employee activities and attendance through web apps, kiosks, and smartphones. Its Unified Workforce Directory allows you to access all employee data and activities. You can add or remove features based on your needs effortlessly.
Proper HR expertise to assist you in complex matters like health benefit claims or billing issues.
It helps you to perform recruits onboarding, background checks, create accounts for 3rd party apps, set up benefits, etc.
Access pre-built courses or build your training programs to teach relevant skills to employees.
Rippling Workflow Automator allows you to build no-code logical workflows to automate tasks.
Integrations: Slack, Zoom, Dropbox, and 500+ other integrations.
HR Services: Employee Surveys, Task Management, Workflow Automation, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
Automatically set up all accounts for recruits. It has a relatively long learning period for novices.
Quickly promote employees and change employees’ powers and rights.
Obtain regular employee feedback with pulse surveys and improve the work environment.Key Specs: 2) ADP Totalsource – Best for Employee benefits administration
ADP is one of the best HR outsourcing services with professionally built templates for employee handbooks, guidelines, policies, and job descriptions. You can manage any allegations of harassment or discrimination in your workplace with the assistance of ADP’s investigation team.
Accelerates the hiring process with efficient application tracking, smooth background checks, paperless onboarding, etc.
Provides a separate Investigation team for handling harassment and discrimination concerns in the company.
Improve your employees’ lifestyle with ADP TotalSource’s proper Work-Life employee assistance programs.
Assists in building a completely personalized benefits plan for your company.
Integrations: 550+, including Xero, Deputy, When I Work, etc.
HR Services: Recruitment Management, Employee Training, Compliance Management, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
Ensures effortless setup with ADP’s experts doing the heavy lifting on your behalf. Overpriced expert consultations and integrations.
Offers proper suggestions to help streamline business processes.
Offers prebuilt reports to evaluate business parameters quickly.Key Specs: 3) Justworks – Best for complete compliance management
Justworks is an ideal HR management service for maintaining proper legal and regulatory compliance. You can use it to stay up-to-date with the latest changes to land laws that may affect your operations. It provides you with professionally built templates for creating your policies, handbooks, SOPs, and guides.
Built-in support for overtime tracking, rest and meal break regulation, and more.
Effortlessly track paid leaves, overtime, and critical business metrics with customizable reports.
Proper granular control over employee permissions to use any feature in Justworks.
Tailored guidance to improve employee satisfaction and uplift employee well-being.
Integrations: Trainual, Vanta, Xero, QuickBooks.
HR services: Track critical business insights, configure workflow charts, and manage employee permissions.
Mobile Application: iOS and Android.
👍 Pros 👎 Cons
Takes complete responsibility for paying your taxes, filing returns, etc. Lacks e-signature for documents capabilities
Professional tax filings for W-2 and 1099 forms
Provides multiple pricing plans to accommodate the needs of different business sizesKey Specs: 4) Paychex Oasis – Best for Dedicated HR guidance
You can track various business metrics, such as labor costs, revenue, and more, with data-driven reports that help discover unknown bottlenecks. It helps build internal communication channels that enable straightforward reporting from employees. It also handles all your tax filings with an automated filling of W-2 and 1099 forms.
Understands your HR needs and helps build a proper action plan keeping your interests in mind.
Dedicated HR professionals help analyze business aspects, identify the scope for improvement, and help adapt to new laws/regulations.
Robust self-service dashboard allows employees to set up direct deposits, finish evaluations, access tax documents, etc.
Compensation Summary report allows employees to access data about all their compensations from one location.
Integrations: 190+ including Deputy, Delaget, etc.
HR Services: Efficient Internal Communication Channels, Tax filings, Workplace Safety/Compliance Management, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
It helps you to perform background checks on potential recruits Relatively inferior support for proper employee benefits
Provides 1st-party additional services like tax management, employee retention tax credit, etc.
Professional experts assist you in making the right decisions for legal compliance, employee well-being, etc.Key Specs: 5) Gusto – Best for Effortless job posting and recruitment
Gusto is one of the best payroll services for small businesses that provides professionally designed templates that allow you to create professional-looking procedures, job descriptions, agreements, checklists, and SOPs. You can use its tools for time tracking and employee attendance. It helps you conduct frequent anonymized pulse surveys to better understand your employees’ needs.
Manage offer letters, build policies, and create reports and handbooks using easy-to-use pre-built templates and checklists.
Effortless job postings, applicant tracking, and more from the dashboard.
Free and automated filings for local, state, and federal taxes with in-depth reports.
Support for administering employee benefits such as health and life insurance, 401(k)s, etc.
Integrations: 100+ integrations, including 15Five and Amplitude
HR Services: Tax management, payroll automation, new recruit onboarding, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
Workflow Automator helps automate daily tasks, saving you precious time. Many features, like time tracking, are restricted for basic plans.
Provide employees with training to improve their skills.
Automatically create data-driven reports, compare business performance, etc.Key Specs: 6) Bambee – Best for Completely automating HR tasks
Bambee is one of the best services to identify gaps in your existing HR infrastructure and fix them. It helps you perform regular surveys, audits, etc., to find room for improvement. You can use it to build proper internal communication channels to improve interaction within your organization. It offers many professionally built training courses to train employees about workplace safety, SOPs, etc.
Bambee also provides a professional HR manager who helps answer all your queries via an easy mobile chat. It offers an HR AutoPilot feature that learns your behavior, priorities, and constraints to quickly perform all relevant HR tasks on your behalf.
It helps you to build and improve business policies that maintain compliance and protect you legally.
Automatically handles taxation filing, including federal, state, and local tax filings.
Provides smooth employee recruitment, onboarding, and termination procedures.
Assists in solving employee disputes and improves overall employee engagement.
Regular comprehensive HR audits will help you discover new possibilities for employee well-being.
HR Services: Compliance management, HR audits, payroll, benefits administration, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
Automated compliance reviews and audits to ensure all HR best practices were followed. You are limited to a maximum of 500 employees.
Keeps you updated about the latest changes in labor law to maintain complete legal compliance.Key Specs: 7) Insperity – Best HR service for growing businesses
Insperity is one of the best HR outsourcing services that offers many tools for improving employee well-being, driving recruitment, etc. You can use Insperity to create good employee recognition programs to uplift employee engagement and boost morale.
In-built 1500 reports for analyzing multiple critical business parameters, along with support for custom reports.
Provides HR functions to ensure 100% legal compliance with proper risk management, reports, and audits.
Support for various employee benefits like 401(k)s, retirement plans, insurance, etc.
Pre-built templates for job descriptions, training, performance reports, etc.
Integrations: Trainual, ProgramPay, Casual, QuickBooks, etc.
HR Services: Employee benefits administration, new recruit onboarding, performance reviews
Mobile App: Android and iOS.
👍 Pros 👎 Cons
It offers a customized pricing plan so you can select and pay for only the features you need. Requires a minimum of five employees to use it.
Effortlessly scale up your services according to the growth of your business.
Provides certified payroll specialist, HR specialist, and benefits specialist to assist you in all day-to-day HR issues.Key Specs: 8) TriNet – Best PEO service for small business
TriNet is an ideal small business HR service that helps automate tasks and reduce SMEs’ burdens. It provides business owners with services like paperless payslips, automated tax calculations, tax filings, and more. It comes bundled with over 500 online learning courses to provide employees with specific training. TriNet also allows you to customize its PEO services to suit your unique requirements better.
It assists you in building proper compensation and rewards programs to recognize employees’ work and boost their morale. You can monitor employee activity, attendance, time-off requests, reimbursements, and more through its intuitive dashboard.
It helps improve employee engagement by uncovering less-known issues and providing proper guidance.
TriNet’s partnership with various companies makes finding affordable employee benefits options easy.
Offers expense management tools and tax administration to help businesses optimize their costs.
Robust knowledge base to find online information about most HR-related matters.
Integrations: Lattice, Okta, Xero, Deputy, etc.
HR Services: Automated Payroll, Talent Acquisition, Compliance Management, etc.
Mobile App: Android and iOS.
👍 Pros 👎 Cons
Provide proper risk mitigation for taxes, compliance, and employee liabilities. Requires a minimum of five employees.
Professional HR experts help you make better decisions.
It helps employees access tax documents, time tracking, etc.Key Specs: Best HR Outsourcing Services for Small Businesses Final Verdict
We have tried to cover all the best HR outsourcing services you can use for business. You should select the one that meets all of your needs. We recommend looking for an HR service that can quickly handle your current and future needs.
Whereas, if you are looking to scale up your business soon, then Insperity could be the most useful.
However, Justworks is excellent for compliance and risk management. Overall, Gusto happens to be the most balanced HR service.
Over recent years, cable TV providers continue to lose their customer base progressively. This is mainly due to consumer technologies’ changes – Internet use and the rise of streaming services. This inevitable change is inherently paving the way for cord-cutting. The COVID 19 pandemic accelerated cord cutting trend. With many people staying at home, cable TV content couldn’t satisfy their thirst for content. Digital platforms such as Netflix and many more came to the rescue.
Here, are some latest cord cutting facts trends of 2023 that you should know:What is Cord Cutting?
Cord-cutting refers to the act of canceling cable TV providers for more satisfactory and cheaper alternative online TV steaming. That is, moving from cable providers or satellite subscriptions to streaming online platforms.
Cord-cutting is mainly done in three ways. The cheaper one, leaving the pay-TV cable for the free Over the Air (OTA) broadcasts. All you need is an antenna for this type of cord-cutting. However, you may not enjoy much content, and you may encounter interference.
Next, cord-cutting the right way, Over the Top (OTT) cord-cutting. Here, you stream content via the internet. OTT may involve subscriptions, which are worth the content you get than the pay-TV cable. You get to pick what befits your watching needs. Popular examples include Netflix, Hulu, YouTube, online live TV, social media streaming, and much more.
Lastly is cord trimming (to trim the cord); users retain the pay-TV cable but opt for the base package, usually news or sports. Cord trimmers also have subscriptions to other online streaming platforms.
Latest Cord Cutting Stats for 2023 & Beyond
Without further ado, let us take a look at the some important Cord Cutting Facts:
Pay-TV subscriptions are expected to continue declining while Non-pay TV households will continue to rise in 2023.
True cord-cutting households are also likely to increase in the year 2023.
Over the Top broadcast will continue with the upwards trend to about 194.2 million.
The video streaming market, which has exhibited continuous growth, will hit above $70 million by the end of 2023.
Live streaming is likely to experience a 60% increase, which is a remarkable improvement.
Netflix, Disney +, BBC iPlayer, and other streaming platforms will raise their subscription fee in 2023.
Cord cutting trends also suggested that Social media streams will also increase by 7.2% in 2023.
More pay-TV providers are selling their assets and shifting into the streaming world.General Cord-cutting Statistics for 2023
From the above brief, online steaming and cord-cutting rates are at record highs but the same cannot be said for cable TV, which is declining drastically. Below are general cord-cutting statistics on the cord-cutting upward trajectory and how much potential this swing has in store. The numbers provide a clear indication of the cord-cutting state.1) Price is still the main reason for cord-cutting.
Price is the key cord cutting driver. Source: Magid2) Non-Pay TV households on the rise.
Non-Pay TV households consist of cord cutters and cord ‘nevers’ (never used pay TV). Their number continues to rise exponentially. In the US, most households will ditch Pay TV by 2024. In 2023, there were 44.6 million, while in 2023, the number rose to 51.7 million. Comparatively, there will be an increase in 2023 and the coming years.
Cord Cutting Statistics – US Pay TV vs Non-Pay Tv households. Source: eMarketer 20233) 86% connected to the internet in the US.
Source: Liechtman research
In the 2023 Leichtman research based on telephone calls, it was found that 86% of US households are connected to an internet service. This is an increase from 84% in 2023. This rapid increase in internet consumption was due to the pandemic and the shift to cord-cutting.4) Covid-19 accelerated cord-cutting.
During this Covid-19 stay at home period, most people opt for online streaming platforms suggested by below-given cable TV statistics. This coincides with the profits of streaming platforms and losses of Cable TV. Traditional cable and internet-based TV providers such as Comcast, AT&T, Verizon, Charter, and Dish saw a decline in their subscribers in 2023. This trend is likely to continue in 2023 in favor of cord-cutting.
TV services subscribers in the first half of 2023, compared to 2023. Source: ProtocolTV Viewership Trend on Declining 5) Another trend on declining Traditional TV viewership
Source: Grounded Reason
Traditional TV providers rely on cable or satellite to avail their content. However, over the years, their subscriptions are immensely declining. Cumulatively, from 2023, cable and sat continue to decline from 84.8% to 68.6% in 2023. Most people are picking live TV and streaming channels.
A trend on how households watch TV. vMVPD are services like Hulu and Sling. Source: Grounded Reason6) The decreasing number of TV household
According to data collected from Statista, in the US, there were about 127.59 million TV households by 2023. It is further observed that in 2023 and 2023, there were 120.6 million households with TVs. The shift is due to the use of other devices to watch content such as smartphones and tablets.US households Cord-cutting Statistics 7) 31.2 million US households cut the cord in 2023
In the US, an aggregate of around a 31.2million users cut the cord by the end of 2023. Also, 6.6 million were planning to cancel pay-TV subscriptions. This trend is likely to continue until 2024.
US Cord-cutters. Source: eMarketer8) Over the Top streaming market growth
This consists of streaming services such as Netflix and Apple TV. Though stability is expected to be reached by 2023, the previous two years have seen the market grow from $104.11 billion to $161.37 billion in 2023 and 2023, respectively. Once again, the pandemic accelerated these numbers.9) Live TV streaming sustained growth in China
Source: Global times
Live streaming has become more common in recent years and is taking the world by storm. Live streaming is most prevalent in China, with about 900 million users in 2023.
Video streaming in China. Source: Global Times10) Four-fifths of US consumers have a streaming option
According to digital media trend sources via Deloitte insights, 80% of US consumers now subscribe to at least one paid streaming video service. This is a significant improvement of 73% before Covid-19. It was also found that subscribers may have up to four subscriptions of steaming services. It is likely they will revert to one service once restrictions are lifted in 2023.
A survey of streaming subscriptions, pre-Covid-19, and during Covic-19. Source: Digital Media Trends11) Social media streaming statistics
Facebook, YouTube, and other social media platforms have created a space for streaming content, including news. By the end of 2023, Facebook garnered 2.5 billion active users; hence it signed deals with a few brands and dealers to encourage the use of Facebook Live. YouTube has also experienced a rise in the number of consumers to around 2 billion people.
Social media streaming content. Source: Conviva.12) The rising cost of streaming content
Steaming giants such as Netflix, Amazon, Hulu, and others pay top dollar to have professional content. However, the demand for content and keeping up with profits has proven costly. Hence, streaming platforms will raise their subscription fees in 2023 to keep up with production costs.13) Advertisers are shifting their strategy to streaming platforms
Source: Think with Google
Consumers prefer ad-supported streaming. Source: Digital media trends14) Increased demand for streaming devices
Source: Business Wire
Streaming devices are also enablers for cord-cutting. Major content providers such as Google, Amazon, Apple, and others will continue to ramp up their production in 2023. It is estimated that the global streaming devices market size will reach $18.97 billion by 2027.15) Streaming wars not to end soon
Key players in the industry such as Netflix, Disney +, Amazon, HBO Max, and other streaming platforms have all laid out plans for 2023. Each offering is meant to lure in new or keep the current subscribers. For example, Disney is eyeing for 230 million subscribers by 2024.16) Digital content piracy on the rise
As cord-cutting becomes popular, so is the streaming of content illegally. In 2023, the US chamber of commerce established that content piracy accounts for 126.7 billion views of US-produced TV shows. In 2023, there was an 80% increase in online piracy. Without proper measures, this trend will continue in 2023.17) Netflix still gaining subscribers
Source: Nasdaq and Statista
Netflix is still popular across different countries. In the third quarter of 2023, Netflix had 195.15 million subscriptions worldwide. North American users accounted for 73 million subscribers.
Netflix users worldwide. Source: Statista18) Disney +, a newcomer with most subscribers in a short time
Source: Statista and Nasdaq
This has become a major streaming service provider due to its shows. In 6 months, Disney + gained 57.5million subscribers.19) YouTube has the largest number of users, over 2 billion.
Source: Think with Google
Besides having the most users, this platform also has the highest number of daily active users, standing at 163.75 million as of 2023. This number is likely to increase in 2023.20) HBO Max and Peacock platforms are on the gain
Source: The vergeConclusion: Winds of Change
With the shift to streaming services, many platforms are trying to scramble for their fair market share. This is by offering unique quality content, suggesting what to watch, subtitles, and other features.
Cord-cutting and online streaming are the current indicators of how consumers watch content. Although the future for the cord is unsteady, it will be the end of cable TV. It is predicted that by 2024, most households will not have pay-TV subscriptions.
Above, given Cord-cutting stat are the current indicators of how consumers watch content. Although the future for the cord is unsteady, it will be the end of cable TV. It is predicted that by 2024, most households will not have pay-TV subscriptions.Sources
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