Cybercrime is one of the biggest threats facing businesses in an increasingly digital world, and companies with inadequate cybersecurity infrastructure are the most vulnerable to hackers. Below, we outline just why cybersecurity matters so much to your company, how to tell if your data protection processes are failing, and how to design an effective security strategy.
Why cybersecurity matters
According to the 2019 Hiscox Cyber Readiness Report, three out of five firms surveyed reported a cyber attack in the last year, and the number is only expected to increase for 2020 and 2021. What’s more, 58 percent of malware attacks are aimed at SMBs, and it’s estimated that cyberattacks will cumulatively cost businesses $6 trillion per year by 2021.
What does this data tell us? It tells us that companies are increasingly vulnerable to hacking attempts, and if you don’t prioritize cybersecurity, you’re putting your company assets at unnecessary risk.
It’s sometimes hard to tell if your cybersecurity processes are sufficient, so here are four signs that your data security needs some improvement.
You have no proactive strategy
Defensive strategies such as firewalls and antivirus are great. But now, you need proactive tools such as network monitoring and penetration testing to respond to threats before they infiltrate the system.
You’re experiencing more cyber attacks
If you’re noticing more cyber attacks, phishing emails, or other suspicious activity than usual, it’s a sign that hackers think your system is vulnerable.
Your company is growing
It’s great if your company is growing. But, when infrastructure expands and you’re handling higher volumes of data, you need to ensure your cybersecurity keeps pace.
You don’t prioritize cybersecurity
When was the last time you discussed cybersecurity in the boardroom, or offered employees data security training? If it’s not a daily priority, you’re vulnerable to cyber attacks.
Tips for creating a cybersecurity strategy
If you’re ready to create a cybersecurity plan, here are some tips to get you started.
Build a baseline
You can’t protect your company if you don’t understand what infrastructure you’re protecting, and who you’re protecting it from. Build a baseline understanding of your employees, network, infrastructure, and daily operations from a security point of view, and use the information to shape your security policies.
Remember, every company is different, and so they all have different priorities.
Educate your employees
There’s no point in a cybersecurity strategy if your employees don’t know how to implement it. Give employees regular security training and ensure they know who to ask for help if they have any questions or concerns.
Test your strategies
Don’t wait for an incident before you test your cybersecurity. Test your response times and your security effectiveness before you rely on it. If you’re unhappy with the results, look at what went wrong and learn from it.
Get outside support
Cybercrime is evolving all the time, which is why the best thing you can do for your cybersecurity strategy is to seek expert outside help. An MSP helps you minimize your cybersecurity risk without overspending on your IT budget.
Strong cybersecurity is crucial to protecting your company’s sensitive data and reducing operational downtime. For more information on data security and creating a cybersecurity strategy, contact us today.