RSM Technology Monthly Alert - December 2022

IT Insights

Crypto: what could more regulation mean for the future of digital currencies?

The collapse of FTX has urged the cryptocurrency market to embrace the decentralized structure, allowing individual investors to withdraw or deposit liquidity at any time without the risk of their assets being frozen by the exchange. An independent audit of an exchange's balance should be conducted to reveal potential systemic failures brought on by unanticipated activity, such as using exchange reserves to make loans to crypto companies. Financial regulators should also adopt an appropriate risk assessment framework and impose regulations to restrict the use of the tokens for customer protection.

Accelerating digital transformation: turning data into CX

The pandemic has forced many businesses to complete the first phase of their digital transformations and improve customer experience (CX). Digital acceleration, the following phase, helps organizations to actualize the potential and measure the success of the mass transformational phase. The embrace of technology and its benefits has alleviated customers’ privacy concerns and the shift in consumer expectations and needs has encouraged them to share more of their data with a company to create a better experience in the long run. The key is using the upgraded technology and data insights as tools on the journey to improving overall CX.


System Updates

An insider’s guide to getting the most out of your NetSuite dashboards

Customizable NetSuite dashboards improve user efficiency and give greater transparency over data that enable firms to make smarter decisions and run their businesses better. There are three different tools for users to track KPIs on their dashboards, including adding custom KPIs for business-specific metrics, highlighting specific metrics with the KPI meter, and offering more complex comparisons over various time ranges. Users can add data visualizations to their dashboards, displaying the data of up to three KPIs in trend graphs by setting up report snapshots. Other personalized dashboard features also help users complete their work efficiently.

From sign language capabilities to gaming in Teams—here’s what’s new in Microsoft 365

To build an inclusive culture in a hybrid working environment, Microsoft Teams has introduced a new schedule send function so that employees can respect other colleagues’ boundaries when reaching out to each other. It allows users to manually select the future date and time to send a chat message without disrupting a recipient’s off-hours. The follow feature helps meeting facilitators guide participants through the whiteboard and focus attention and discussion on key parts of a presentation. New capabilities in Adoption Score help IT administrators facilitate team efficiency and productivity in Microsoft through aggregated insights while maintaining user-level privacy.


Cybersecurity Announcements

Google is warning users about types of Gmail scams

Google has issued an urgent warning to Gmail users after it had blocked hundreds of billion spam and phishing messages which were 10% higher than the average volume. In light of the holiday season when online scams are especially prevalent, Google has also shared a series of scenarios and tips to users to enhance their safety during the peak season. Even though some scammers are highly skilled at making fake messages appear believable and personal, users should always be aware of emails asking for personal details or payment directly and check the sender's email address.

FBI warning: this ransomware gang has hit over 100 targets and made more than $60 million

CISA and the FBI have warned that a prolific ransomware gang has compromised over 100 victims and claimed over $60 million in ransom payment. They issued the new alert as the number of attacks has increased sharply and cybercriminals have improved their techniques to make attacks more difficult to detect. In addition to encrypting data and demanding a ransom, the group threatens to release stolen data unless the ransom is paid with Bitcoin. Organizations should keep all systems and software up to date with the latest security patches, secure accounts with multi-factor authentication, and have incident identification and investigation procedures as well as a recovery plan.