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The increase in the use of technology in our everyday lives has increased the risk of cyberattacks and data breaches. Due to reliance on digital systems to carry out their daily operations, companies face negative consequences like cyber threats, hacking, ransomware attacks, etc.
Many medium and small-sized enterprises (SBMs) are also vulnerable to these threats since they don't often have the robust security systems that larger organizations do. Studies show that over 60% of small businesses that experience a cyberattack shut down within six months, mainly due to financial losses and damage to their reputation.
This article explores the cybersecurity measures companies can adopt to protect themselves.
1. Keep Your Software Updated
One of the simplest ways for cybercriminals to access a company’s systems is through outdated software. Software companies frequently release updates to fix security issues, but if you don't update your systems, you're exposing and making yourself vulnerable to attacks.
Wannacry ransomware of 2017 is a big example of this. It was one of the most notorious cyberattacks in 2017, affecting 20,000 computers globally. It happened because there was a flaw in Microsoft Windows, and many organizations did not apply the update that was supposed to fix it, resulting in them being hit with ransomware. Best practices to ensure you are safe from these attacks are:
- Set your software to update automatically, including your operating systems, apps, and plugins. This way, your systems always have the latest security fixes.
- Have your IT team monitor updates, test them first, and then roll them out across the entire network quickly.
2. Regular Data Backups
Having your data backed up regularly makes it easier to restore it if it gets lost due to a cyberattack or any other malfunction. You can update your data regularly by following these practices:
- Automatic backups for important business data daily to ensure these backups are stored in a separate, secure location, offsite or in the cloud.
- Enable versioning on your backups to keep your old, good copies safe so corrupted versions do not replace them.
- Regularly test your backup recovery process to ensure that you can restore your data quickly and smoothly if something goes wrong.
3. Physical Security
The first and most important step in improving your company’s security is to make it physically secure. It is essential to keep track of who can enter and leave the building premises to stop the entry of unauthorized people into the company.
Platforms like Threshold provide solutions like a visitor badge system, where visitors' badges expire after a particular time, and temporary ID cards to improve physical security. This system makes it easier for businesses to keep an eye on who enters the building, ensuring only authorized people are allowed on-premises access. It adds a layer of protection and prevents any outside threat or unauthorized people from getting into sensitive areas, reducing physical and digital security threats.
Endnote
Businesses need to focus on and prioritize cybersecurity to combat the evolution of cyber threats, safeguard their critical data, and secure their long-term success. By staying informed of the most recent threats and implementing countermeasures, businesses can lower the risk of cyberattacks and improve their resilience in case they get attacked. It’s all about staying ahead and informed about the current threats and risks and preparing for them in advance. That way, your business can weather any challenges that come its way.