By Gerry Freedman

As many of you know, in May of this year, the WannaCry ransomware cyber attack was a global event.

This malware strain infected over 200,000 computers in 150 countries.

While this particular attack targeted out of date, unpatched, or unsupported operating systems, it reinforced the need to keep your operating systems current. Additionally, it brought into sharp focus the choice you have if your system is infected: bitcoin or backup.

Ransomware works by encrypting the data it can access with extremely difficult to break encryption, rendering the data unreadable without the decryption key.

The “ransom” part of the equation comes from the hackers demanding payment in the form of untraceable cyber currency. Payments started at $300.00 in the case of the WannaCry virus. Law enforcement officials discourage paying the ransom, as it emboldens the hackers, and gives them a huge source of revenue to create new attacks.

It is estimated that ransomware attacks are now a $1 billion business.

The best way to recover your data is from a good backup.

A backup that uses its own encryption, provided necessary retention and is shielded from ransomware attacks are the top recommendation of business continuity experts. In addition, a good business continuity system for critical data, which goes beyond mere backup, would allow you to continue working during the event, save money, reduce risk and allow your business to recover its data in minutes or hours, not days.

By Rick Gallup

One of the many challenges facing business owners and managers today, is the transformation of documents from paper to digital. Although most people agree that this change is necessary, implementation is not a simple process.

Why go from paper to digital? Remote workers have access to information on many devices from virtually anywhere. If important documents are trapped in paper format, you are not fully utilizing the tools that mobile technology provides.

Another reason is that digital documents make it very easy to store and retrieve large volumes of data. Other reasons include cost savings, security, and sustainability, to name few.

What are the challenges? First there is acceptance. Most people are resistant to change. Getting everyone on board, is essential to a successful digital transformation strategy.

Then there is the process. Some companies will choose to eliminate printers, or install software that restricts printing. These can be effective measures, but only if you have a good understanding of the workflow, and how this action may impact it.

The path to transformation can be divided into four stages (understand, educate, execute, and improve). First you must understand how and where you use paper today. The distinction between “good” and “bad” paper can identify areas where you really need to use paper, and areas where you don’t.

Examples of “good’ paper might be when working with organizations outside of your own. They may still require paper to conduct business. Printed marketing materials may be a good way for you to promote your business. Sometimes there may be a legal requirement for a hand-written signature.

An example of “bad” paper would be any time hard copy documents are stored or shared, when it makes sense to do this electronically. Having a good managed print solution in place, can help you understand your current situation.

by Sarah Lewis Belcher, Esq.

So, you have a great new project you want to start building ASAP to enable you to get in the ground and/or have the shell(s) up before the weather turns and/or to meet your completion schedule?

If you need a construction loan to finance the project, knowing the financing process can help expedite closing and your ability to get started.

The earlier you involve your lender the better. In addition to the usual underwriting review, the lender and its construction consultant will need a number of items concerning the project. Having a package of these materials ready can help speed the review and, therefore, the closing.

The construction documents that often must be provided include: plans and specifications, detailed construction budget, construction schedule, fixed price/guaranteed maximum price contract with the general contractor (GC)/construction manager (CM), architect/engineer’s contracts, municipal approvals including building permits, payment and performance bonds, builder’s risk insurance and consents to contract assignments from the GC, CM, architect and/or engineer.

These items will be reviewed by the lender and its construction consultant to confirm the project described in the plans and specs may be completed for the amounts in the budget and within the time frame in the schedule.

The construction loan process in New York state requires the preparation and filing of a building loan contract/construction loan agreement. If a lender doesn’t file such a document with the clerk of the county in which the real estate is located, the lender’s security interest established by its mortgage will be subject to mechanics liens that may be subsequently filed.