Technology Review /Audit

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Technology Review/Audit

Benefits of Technology Audit When Buying or Selling a Business

An audit of compliance and website analytics is crucial when buying or selling a business for several reasons:

  1. Risk Mitigation: Non-compliance with ADA standards can lead to costly lawsuits and damage to the business’s reputation. A thorough audit can identify potential compliance issues that need to be addressed, thus minimizing these risks.
  2. Valuation: A website’s performance, as measured by analytics, can significantly influence a business’s value.
    High traffic, strong user engagement, and effective conversion pathways can indicate a healthy online presence and strong customer base, enhancing the business’s overall value.
  3. Future Planning: An understanding of the business’s web analytics can provide insights into customer behavior, market trends, and potential areas for growth or improvement. This data can inform strategic planning and decision-making for the prospective buyer.
  4. Transparency: A clear picture of the business’s web presence can foster trust in business transactions. The seller can demonstrate due diligence and business health, while the buyer gains a clear understanding of what they are purchasing.
  5. Business Continuity: In case of an acquisition, having a robust backup plan in place ensures business continuity.
    It reduces the risk of data loss during the transition, which can impact operations and customer relations.

Overall, an audit of compliance and website analytics provides a clear picture of the business’s digital assets, aids in accurate valuation, helps mitigate potential legal and operational risks, and informs strategic planning for the future.

A comprehensive technology review/audit could also include several other aspects, in addition to ADA compliance, website analytics, and backup plans/procedures. These are relatively easy to audit and can provide valuable insights for the business:

Cybersecurity Measures
Review the current cybersecurity policies and measures in place. Check if the company is using updated and adequate antivirus, anti-malware solutions, and firewalls. Evaluate the frequency and thoroughness of security patches and updates. Look at incident response plans and disaster recovery procedures.
Hardware and Software Inventory
Audit the current inventory of hardware and software assets. This can help identify any unauthorized devices or software in the network, obsolete hardware that needs to be replaced, or unused software licenses that could be discontinued to save costs.
Network Infrastructure
Evaluate the network infrastructure for its capacity, scalability, and resilience. This includes reviewing the network topology, bandwidth usage, redundancy measures, and load balancing setups.
User Access Controls
Review the user access controls and permission settings to ensure they follow the principle of least privilege. This means each user should only have access to the resources necessary for their work, no more, no less.
Data Management Practices
Look at how data is being collected, stored, and managed. This includes data classification, data retention policies, and data disposal procedures
Regulatory Compliance
Depending on the nature of the business and its geographical location, there may be specific IT regulations to comply with. This could range from data protection and privacy laws (like GDPR or CCPA) to industry-specific regulations (like HIPAA for healthcare or PCI DSS for credit card information).

Remember, the primary goal of a technology review/audit is to identify risks and opportunities in the IT environment and to provide recommendations for improvements.

ADA Compliant Site
The Americans with Disabilities Act (ADA) is a US law passed in 1990 that prohibits discrimination against individuals with disabilities in all areas of public life. While the law originally focused on physical spaces, court rulings and Department of Justice interpretations have expanded its scope to include websites as "places of public accommodation."
Essentially, if a website isn't accessible to people with disabilities, it could be seen as discriminatory and in violation of the ADA. Web accessibility can involve many factors, such as providing text alternatives for non-text content, ensuring content is easy to see and hear, and making all functionality available from a keyboard for those who can't use a mouse.
Not being ADA compliant can lead to legal trouble. Businesses across the country have faced lawsuits alleging their websites are not accessible to the visually impaired or hearing impaired, violating the ADA. These lawsuits can result in financial loss due to legal fees and potential damages, not to mention damage to the company's reputation.
Given the legal and ethical importance of ADA compliance, businesses are advised to audit their websites for accessibility and make necessary adjustments. This might involve consulting with web design professionals who specialize in ADA compliance or using automated tools to identify potential accessibility issues.
Remember, the goal isn't just to avoid lawsuits, but to make sure your website and services are accessible to all, improving your company's reach and reputation.
Web Site Analytics
At Bridge Point Business & Real Estate Advisors, we understand the vital role website analytics play in driving business success in the digital era. We offer comprehensive website analytic audits to help businesses unlock the full potential of their online presence. Our team meticulously evaluates key performance metrics, user behavior patterns, traffic sources, and conversion rates. By identifying what's working and what's not, we provide insightful recommendations to enhance your website's performance. Whether you're looking to improve your search engine ranking, boost user engagement, or increase conversions, our website analytic audit can provide the data-driven insights you need. Let us help you turn your website into a powerful tool for growth and customer engagement.
Backup Plans & Procedures
At Bridge Point Business & Real Estate Advisors, we understand the critical importance of effective backup plans and procedures in protecting your valuable data. Our team can review your existing data backup strategies to ensure they align with best practices and offer robust protection against data loss or breaches. We'll evaluate your data storage solutions, backup schedules, and recovery strategies, ensuring they're adequate to meet your business's unique needs. We also assess the security measures protecting your backup data, including encryption standards and access controls. Additionally, we can help plan for different scenarios, such as system failures, natural disasters, or cyberattacks, ensuring your business can quickly resume operations in the face of adversity. With our expertise, you can have peace of mind knowing that your data is safe and your business is resilient.