Technology has taken over almost every aspect of our lives, including the way we do business. Gone are the days when businesses took several hours, days, or even months to complete a single transaction. Today, with a click of a button, businesses can initiate and complete transactions, communicate with partners, suppliers, and customers, manage customer data and relationships, and market their products worldwide, among others.
Although digital transformation has come with enormous benefits, its accompanying threats and risks cannot be overemphasized. With more businesses going digital, concerns about cybersecurity threats are also rising. Cyberattacks pose greater risks to all businesses, especially small and medium-sized enterprises (SMEs). Attacks can result in financial losses, data loss, theft of sensitive information, loss of a company’s reputation, equipment failures, etc. To mitigate these threats, SMEs can implement several cybersecurity measures, including:
Ensure cybersecurity compliance
Cybersecurity compliance is the process by which an organization adheres to all industry standards, regulations, and laws associated with information security and data privacy. Adhering to standards related to your field of operation can help protect sensitive business information and data. This saves you the headache of regular cyberattacks affecting your business operations.
As a small business, you can outsource all cyber security compliance issues to save you time and money. With companies like ISI Enterprises, businesses can effectively ensure Cyber Security Compliance with Integrated Security and FSO Solutions. After all risk assessments, the company can come up with a tailor-made solution that addresses all your business’s cybersecurity concerns.
Have a comprehensive cybersecurity strategy
Though a small company, you should have a well-planned, defined, and comprehensive cybersecurity strategy. Your strategy should have clear objectives, guidelines, vision, and implementation procedures. Your strategies should take into consideration the overall cybersecurity threats associated with your business environment.
Educate employees on cybersecurity threats
Your employees can play a critical role in the attack or defence of cyberattacks. Some employees can accidentally download malware into the company’s system. This can even be through the use of an infested hard disk drive connected to a computer. Malware like ransomware can steal confidential business information and data or lead to attackers taking control of the entire system. Cyberattacks can also be through social engineering attacks or phishing, where a click on a link can lead to the installation of ransomware into your systems.
Training your employees on how to protect data from cyberattacks, can help prevent or reduce such risks. With adequate training, they can identify and respond to or report potential threats to the right channel to avert such attacks.
The lack of regular updates prevents your system and application from having the latest security patches, making them vulnerable. This makes it easier for attackers to exploit your systems with all forms of attacks. Your system management team should always ensure that your systems and applications have the latest security patches and updates.
Have a backup and recovery system
Cyberattacks usually come with data loss, even if you have your system back. You can lose years of business data to just one attack. As such, your business should have a backup and restoration system for data retrieval in case of an attack.
Ensure that the backup system(s) and your normal storage are in sync. This ensures that you don’t lose any critical data or information after a cyberattack. Also, it is advisable to have your backup data stored on an offline system, offsite location, or cloud storage system. This prevents them from being a target of any hacking.
Ensure a secured network infrastructure
Small businesses must establish rigid and preventive network infrastructure security measures to protect their network infrastructure from unauthorized access. It can also prevent unauthorized data modification, deletion, theft, and other malicious activities. In addition, always monitor the network traffic for any signs of suspicious behaviour.
Regular security assessments
Having periodic security checks and assessments and penetration testing can help you build a strong system. The text helps you to identify vulnerabilities and weaknesses in systems and network infrastructure. You can have a two-way assessment, one done internally and the other by a third-party cyber security expert.
Install security software
Your business computers and system should have security software like anti-spyware, anti-spam filters, and anti-virus to prevent malware and virus infection.
Set up a firewall
Setting a firewall between your systems and the internet source serves as a gatekeeper for incoming and outgoing traffic. It can help to protect your internal networks from cyber breaches. You can use internal computer firewalls or install something that can curtail a wide range of cyberattacks.
You can spend a lot of time, energy, and money on building a business, but a cybersecurity breach can render all efforts useless. Therefore, invest in various cyberattacks prevention and defence strategies to keep company and public data safe from attackers. Train your employers on cybersecurity threats and preventions; ensure industry-based cyber security compliance, make use of cloud storage and data backups, and conduct regular security assessments. Ensuring the above measures can significantly enhance your business’s overall cybersecurity and reduce its vulnerability to threats.