Successful business owners preparing for a sale are quickly introduced to words they may not be familiar with: “EBITDA” and “Adjusted EBITDA.” Suddenly, why are these the only numbers that seem to matter?
It’s 9 am and you’re running late for a meeting with your IT manager. You know she’s going to be throwing around “techie” terms that make no sense and you haven’t even had time for coffee yet! While we can’t get you the coffee, we can give you a crib sheet of technical terms and what they mean in plain English.
All businesses–regardless of size–have a digital presence. This mandates that both mundane and mission critical data must be regularly backed up and ready for recovery at the drop of a hat. Whether it is managed in-house or outsourced, business owners and financial managers don’t always know what data is backed up, how often it’s backed up, where it is stored or how long it will take to recover when disaster strikes.
Smart business owners know that improving their computer systems keeps them competitive. These changes are often undertaken to improve efficiency, reduce costs and increase revenue. While it’s unlikely that management will perform the actual processes, it is helpful for them to understand their choices.
A board presentation about technology can strike fear in the hearts of many a C-level executive. Fortunately there are steps that can be taken to not only meet the board’s needs and expectations but win their lasting support and respect. Given the importance of technology to overall business strategy, as both enabler and growth driver, technology discussions make regular appearances on board agendas.
