Security has always been a vital topic in the world of business. With threats of hacking and virus attacks, businesses will have to make sure to maintain their profitability by adopting new tools and strategies that restrict data access and prevent viruses and malware from dealing with costly damages.
It’s without a doubt that businesses are taking cyber risk management very seriously. As hacking and data theft becomes even more potent, spending on cybersecurity is likely to increase in the coming years. In fact, spending on security products and services this year has increased by 8.7% from last year.
This only goes to show how businesses realize the significant impact that cyber threats have on their bottom lines. Cyberattacks, particularly through ransomware, accounted for losses of at least $48 billion in 2018, according to a report by USA Today. Citing a report by the Online Trust Alliance, the article goes on to say that “94% of the companies surveyed changed their security policies within the last year”.
Having said that, businesses are bound to invest in improving their security infrastructures. And it’s not just because they want to keep their trade secrets, but because they need to secure their survivability in a landscape that’s currently defined by digital transformation.
To start, it’s crucial to learn about what comprises cybersecurity and how businesses can approach it properly.
The Key Components of Improving The Cybersecurity of Your Business
1. Data protection tools
Whether you have a CRM database or spreadsheets containing login information, critical data should be protected from any attempt at a breach. Sure enough, data protection is the cornerstone of enhancing cybersecurity, mostly because data that’s important to your business is highly vulnerable.
Adopting a data protection system for your enterprise lets you make more rational decisions along the lines of policy development. Using the right enterprise data protection solutions and training your network security team in leveraging these tools will go hand-in-hand in securing your business against even the most recent threats.
2. Data recovery
Disasters can occur at any given moment, so aside from securing your data from hackers, you also need to adopt a system for recovering data in the event of a natural or man-made scenario that could result in data loss.
Cybersecurity systems should have a data recovery feature which lets you save all your contacts and other relevant information offsite. Using cloud-driven software, you can create secure back-up storage which you can readily access at any given time. This allows for business continuity in the aftermath of serious disruption.
3. Network security
Going online exposes you and your employees to numerous threats, including identity theft. Hackers can get away with information that’s out in the open, and online activity could compromise your enterprise’s network security. Luckily, new innovations have been introduced to provide added layers of security to vulnerable enterprises.
Using Host Identity Protocol, for instance, is one way for businesses to create a climate of trust through verifiable identities. HIP works to conceal the identities of users and, instead, uses IP addresses for locations. Finding the right HIP platform may take some time since this is considered a new piece of cybersecurity tech, but you can always trust vendors like Temperednetworks.com to help you achieve a more secure network for your enterprise.
4. Cyber perimeter management
As much as you want to secure your data outside your business premises safely, you must also contain it and prevent it from leaking into the wrong hands. A cyber perimeter is an important component for enhancing data security as it involves determining who gets to access enterprise data.
By creating a robust infrastructure comprising of virus and malware scanners, as well as firewalls, you can make it virtually impossible for anyone to gain unauthorized access to information that’s critical to your business. Aside from that, you should also create stringent rules governing the use and management of login information to accounts used by employees within the perimeter. This should effectively prevent possible data breaches.
5. Internal security audit
For sure, you can’t fully assess the strengths and weaknesses of your security infrastructure without making an to report on its performance regularly. A cybersecurity audit is crucial in terms of upgrading software and hardware, that is if there’s any need for an upgrade.
What’s more, an internal audit can also help you identify vulnerabilities in your security infrastructure. This allows you to maximize your resources in anticipation of new cyber threats. An internal security team that’s tasked to perform an audit should first be created before such an assessment.
Cybersecurity is crucial to every business across all industries. New strategies are being developed each year to confront the challenges of cybersecurity in the coming years. By taking these challenges seriously, you can protect your profitability and create new opportunities for scaling your business.