The role of business IT and technology has grown exponentially. As more business functions are created, business processes are developed and business data is gathered, business security threats have become more prevalent, more complex, and tougher to fight against.
Security, namely cybersecurity, is no longer an issue that hobbyists blog about. Sophisticated criminals are making billions from exploiting cybersecurity weaknesses inside of businesses just like yours each and every day.
Is the technology inside your business safe and secure?
Business security threats are everywhere
Cybersecurity threats from these sophisticated ‘hackers’ are further compounded by things like human error and/or accidental (or sometimes malicious) release of information by internal staff. Understanding the concept of the ‘human firewall’ is a difficult task, but a necessary one in being proactive in the fight against security attacks. Your people are your best weapon! Ideally, you want to avoid the pain of someone accidentally clicking on a link or sending a file (or even money) to a random company that compromises your hardware, servers, your customer data, or your entire network.
Here’s the truth around your desire in wanting to avoid this issue: Most businesses, larger and small, struggle to implement an effective strategy for managing these types of threats.
It’s hard. We get it. You’re not alone.
Cybersecurity risks to your business
Just how big is the risk to businesses? Big, very big.
According to the Verizon Data Breach Investigation Report, 61% of breaches hit small businesses in 2017. That’s up 53% from the previous year.
Here are some other eye-opening statistics on how security issues could affect your company:
- Cyber attacks cost small businesses between $84,000 and $148,000, per.
- 60% of small businesses go out of business within six months after an attack.
- 90% of small business don’t use any data protection at all for their customer and company information.
You have a lot to lose.
If this type of attacks hits your company, there’s sure to be some sort of fallout that costs you something. Not to mention, two-thirds of all cyber attacks are now directed at small businesses, per that same Verizon report.
Think about it: you typically store a myriad of information, inside your company. Things like:
- Customer records.
- Accounting data.
- Sales information.
- Passwords
- Payment information like ACH and bank records.
- Vendor information.
- Customer lists, email lists and marketing materials.
That said, consider this your dire warning along with the tough question that needs to be asked: How are you protecting yourself and how can you protect your business?
First, have a plan and strategy in place, documented, and agree upon by everyone. Either your internal IT staff should be owning this or your current outsourced vendor should be.
Designed with you in mind, we have a special solution that’s focused on cybersecurity, called NOAH. It’s our service to businesses to combat cybersecurity threats that has been proven over the last decade. Our service is innovating and changing along with the ever-evolving cybersecurity world with the goal of protecting your information and company.
Second, you need to have a remote backup solution in place that backs up all your systems to a cloud source, so in the event of some sort of cyberattack, you can keep your business operational.
You’ll also want to test your data security on a scheduled basis, and test your data security systems and procedures. We’d suggest developing and testing a data breach response plan, complete with a communications plan, crisis plan, etc. You also should consider buying cyber liability insurance. We know, we know. Insurance seems like a bit much, but would you rather suffer the consequences of not having one?
You’ll also want to train your staff on things like spotting “phishy” emails, how to encrypt sensitive data, enable two-factor authentication for all your users and employees, and make sure you have a good physical security plan in place.
Lastly, if and when you should fall prey to a cybersecurity attack, here are some more recommendations:
- Act immediately. Contact your IT team, your attorney, and cyber liability insurance agent or risk support person.
- Contain the breach. Take affected systems offline, but don’t turn them off. This is important so your IT and technology team can examine the source of the breach.
- Document every step. You will need to have these details documented in case you need to communicate with your local law enforcement authorities.
- Communicate clearly. Ensure all affected parties are made aware of the issue and what steps are being taken.
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