Cybersecurity is an important aspect that businesses of all sizes should take more seriously. This is because cybercriminals are getting more creative and sophisticated, that even a simple link or email can allow them to have access to a rich network of data.
Businesses that lack a full-time IT department that handles cybersecurity matters are easy targets for cybercriminals. One data breach can be disastrous for any business, negatively impacting its reputation and trustworthiness among customers and the general public.
Although cybersecurity strategies continue to evolve, hackers are also keeping up with the trends by utilizing highly sophisticated methods to obtain data from businesses. Sadly, most hacking attempts aim at employees via emails or phishing methods. Various forms of malware, ransomware, and viruses are still effective forms of cyber-attack.
Cybersecurity will always play an important role depending on the type of business you’re running. Although there’s no specific minimum cybersecurity standing for most businesses, says KMTech, utilizing a framework that’s relevant to your business model would be a good starting point.
If you want to ensure your business stays safe and secure from various cybersecurity threats, here are several measures worth considering when developing a security strategy for your business.
1.Upgrade To The Latest Technology
Consider upgrading your technology when your organization still utilizes computers that are way beyond five years old. Although it would entail additional expenses, consider it a worthwhile investment to ensure a good level of security for your company. There’s a higher likelihood of old devices ending up with malware and other damaging elements.
If you want to ensure the safety of your business, staying up to date with the current technology is one of the best decisions you’ll make. Remember that newer devices are equipped with the latest security features to handle newer types of cybersecurity threats.
2.Keep Up With Current Software And System Updates
Keeping the system and software up to date is also essential in protecting your data from potential cybersecurity attacks. Make it a priority to install the latest security patches for web browsers, operating systems, and all software and applications used in your organization. If you want a convenient approach, you should take advantage of the auto-update feature, or you also have the option to handle the task by manually downloading the patches once available.
3.Maintain A Routine Backup Plan
A backup strategy covering your organization’s crucial aspects is an important consideration. Ideally, you must have several backups of the core business data. By utilizing this approach, you have access to your business data even if a breach, natural calamity, or any kind of attack limits your access. A backup plan is crucial, especially among businesses that handle critical data, such as customer information and accounting sheets.
Backing up your data in the cloud is also a great option. It may be the ideal choice for small and medium-sized businesses that don’t want to invest in physical data storage equipment. As cloud technology has undergone various advancements in recent years, you’re likely to find one that can meet your company’s unique needs.
4.Limit Accessibility Among Employees
Accessibility is another aspect that must be secured. Segmenting or limiting employee access to core business data and systems may be best. Although most cybersecurity threats stem from external hacking attempts, there’s always a chance for threats to arise from within your company.
Employees must only access specific data they’ll use during their tasks. Additionally, employees shouldn’t be allowed to install software or download business data without permission. Maintaining stringent controls over employee accessibility can greatly help limit any damage a potentially malicious cybercriminal can do.
5.Routine Changing Of Passwords With Multi-Factor Authentication (MFA)
Passwords will always serve as the initial line of defense, but it’s best to make an effort to keep them secure since it’s also the easiest to breach, especially among those who use easy-to-guess passwords. Although there’s no need to create highly complex passwords, consider changing passwords frequently to minimize the risk of hacking. In some cases, a password management system might come in handy to discourage using simple passwords.
Implementing multi-factor authentication (MFA) provides an extra layer of security when logging into your account or devices. Generally, the authentication process will require more than your password. In most cases, it’s usually a PIN sent to another device or your email. Even if a hacker could obtain your password, full access isn’t possible due to the additional security feature.
6.Prioritize Measures To Secure The Network
In any business, it’s crucial to think about connections in and out of your network and find ways to keep them secure. So, make it a priority to ensure the security of your network. Generally, it involves thwarting unauthorized use and misuse of all the data and devices your organization is connected to.
One essential step is to restrict access to your Wi-Fi network by implementing a strong password. When you have a Wi-Fi network for your workplace, it should be highly secure. One way to conceal your Wi-Fi network is by setting up a wireless access point or router to prevent it from broadcasting the network name or Service Set Identifier (SSID).
Don’t forget to ensure the Wi-Fi network is encrypted, such as Wi-Fi Protected Access 2 (WPA2), which utilizes Advanced Encryption Standard (AES) and long passwords to ensure a highly secure network to thwart unauthorized access while also routinely implementing updates to the Wi-Fi password.
Some of the security products worth investing in are virtual private networks (VPNs) and firewalls. Although these cannot prevent all cybersecurity threats, they’re highly effective when properly implemented.
A firewall regulates where connections go, while proxies can function as an intermediary between various networks or devices. A VPN works by allowing access to your business network remotely, especially among employees in a remote work setting.
Aside from the firewall and VPN, an additional level of protection of your network and system involves investing in antivirus, antispyware or antimalware software. With increasing cases of cybersecurity threats, these will come in handy in providing an extra layer of protection.
7.Ensure All Incoming Emails Are Clean
Even today, emails can be considered a weak point where potential threats can enter. Sadly, it’s likely due to the negligence of your employees, especially if you fail to provide them with proper training on common phishing tactics and other email scams.
Make it a priority to invest in software capable of thoroughly scanning emails for potentially dangerous links and embedded viruses or malware.
As part of the training you provide to employees, you should encourage them to inquire first if they encounter suspicious-looking emails and avoid clicking links or attachments unless they’re certain it’s legitimate.
8.Update The Default Credentials
Most businesses fail to update default network credentials. Sadly, it can put your business at risk of a potential breach. The default credentials are the initial login information for a product. Generally, you’ll be using the default credentials during the initial configuration, but updating it with a new one is important.
If you fail to update your credentials, it can become a susceptible point later. Remember that it’s easy for potential hackers to find or guess default credentials and can be used as a way to infiltrate your system. Always check the default account credentials once you acquire any new software, hardware, or devices with a factory reset. Make sure to update the passwords right away.
9.Establish A Culture Of Safety And Employee Training
When it comes to your organization’s safety, the responsibility for keeping the company secure should cover all levels. Over the years, data breaches are mostly due to negligent employees. Sadly, your workforce might not know the measures to take if they lack knowledge about cybersecurity threats.
One of the ways to protect your business is to start by educating your workforce about data security and the patterns and trends of common cybersecurity threats. A good starting point is letting your employees know you depend on them to ensure client and business data security.
Consider holding monthly or annual meetings or employee training to provide them with updates on data security policies. Clearly define the basic principles but provide updates on the latest cybersecurity threats so they’ll take the necessary measures to improve their Internet practices or habits.
Train employees to fully know data security protocols affecting your industry, recognize current social engineering scams such as phishing, be familiar with the appropriate actions to take during a possible phishing or malware threat, and take necessary steps to improve password hygiene, to name a few.
10.Setting Up Security Logs
Routine monitoring of logs will be a useful security element in your organization. Well-maintained logs will come in handy in knowing when an incident is likely to happen, such as having multiple failed login attempts or if there’s an access attempt from an unknown IP address.
The logs will be useful in alerting you to any unusual or unexpected events you should know about. You can configure logs to keep track of multiple failed login attempts, password changes, successful logins, alterations to log configurations, denied two-factor authentication (2FA) requests, network connections moving in and out, and antimalware notifications.
Make sure you set up notifications for crucial security events, so you’ll always stay up to date with what’s happening in your system. The logs should be stored in a safe location with proper encryption while limiting access to those needing it. A good practice is storing them in an offline storage location.
Final Thoughts
Cybercriminals nowadays readily evolve with the methods they use to infiltrate businesses. Avoid being complacent and take a proactive approach to protect your business against cybersecurity threats.
Businesses of all sizes should make cybersecurity one of their priorities to ensure a seamless flow of operations. With the help of these security strategies, they’ll serve as your guide in ensuring a good level of security for your organization. Since every business has specific needs, it requires a tailored security plan to ensure a superior level of security at all times.
Hey Guys! My name is Richard Andrew. I am a contributor to the Strategy Watch. I have finished my graduation with a major in Economics. My interest areas are Economics, Financial Analysis, Stock Analysis, and Business Strategy.