If you thought your business is too small to attract cybercriminals, you couldn’t be more wrong. The news reports might have given the impression that only global and national giants fall prey to cyberattacks, but the reality is that 28% of the security breaches in 2019 involved small business victims (according to Verizon’s 2020 Data Breach Investigations Report (DBIR)).
Getting hit by a cybercriminal can leave a serious dent in your revenue, expose your customers to harm, damage your reputation and, in an extreme case, even lead to your business shutting down. We know that with so much work to juggle and so many competing drains on your capital, it is sometimes easier to look the other way and hope you stay under the radar of cybercriminals. But this head-in-the-sand approach will not solve the problem; you need to invest time and money into securing your business on all fronts.
Here is how you can strengthen your online business security:
- Train your employees to stay safe online
Bring in professionals to make sure ALL your employees are well versed with best practices of managing online assets safely, especially being aware of phishing scams or malware in emails.
This is doubly important due to the ongoing remote work scenario that opens up access to company infrastructure to multiple, unprotected devices and networks.
- Bring in strict policies backed by the right tools
You should also establish and enforce robust password/access management rules across the company. Employees must be encouraged to use complex passwords, keep business and private matters separate, and practice all cyber safety protocols. Investing in professional tools for password management, email encryption, or two-factor authentication is an excellent way to enforce a streamlined security system.
- Invest in the best security software
There are several excellent corporate security software products available on the Internet. Most of these have a complete stack of firewalls, spyware and malware detection tools; however, we recommend you go a step further and work with an IT service provider to bring in more effective measures. Many software companies offer proprietary AI-based tools that provide real-time threat detection and prevention. While a retail store might not require such industry-grade security, small businesses that deal with sensitive information such as freelance accounting or financial management companies should consider taking on this investment.
- Outsource your cybersecurity
Verizon’s 2020 Data Breach Investigations Report (DBIR)
Instead of trying to make sense of the cybersecurity world, you could hand over your security to a reputable managed service provider. Several IT companies offer Cybersecurity-as-a-service as well, and these could cap your costs while ensuring you get serviced by experts.
Implementing better security features will naturally cost you money, but this is an expense as necessary as your marketing or manufacturing outlays. After all, you wouldn’t leave your storefront unlocked at night, would you? So why leave your digital doors open?
Don’t compromise on your business’ safety; get in touch with an expert today to safeguard your business. If money is tight, then do get in touch with our team at Crest Hill Capital. A cash advance might be just the solution you are looking for.