In the first half of 2018, over 760 million data records have been breached in cyber-attacks in the U.S. alone. High profile attacks, such as the Facebook breach, have shown that even the largest organizations face significant cyber security challenges.
Data loss has a significant impact on your business, in the short and long term. In the event of a data breach, without a proper backup and recovery plan in place, you are immediately faced with unplanned downtime. You bring in resources and staff on an emergency basis, which increases your expenses substantially. Cyber security specialists come in to do a complete audit of your infrastructure to pinpoint how the breach happened. If you don’t implement property security measures to close the hole, it’s only a matter of time before you end up in this situation again.
The average cost per data record lost was $141 in 2017. Small businesses may face a six-figure bill or higher, depending on the type of data involved in the attack. Such an interruption in cash flow is disastrous for operations. Lawsuits from clients and customers also put a strain on your resources following a data breach. In the worst cases, a data breach could lead to the closure of a business.
The reputation loss caused by not having enough cyber security measures in place can permanently damage your business practically overnight. Consumer trust and goodwill are difficult to establish in the first place. Regaining trust after a customer’s information is compromised is even more challenging. Although it happened in 2013, people remember the Target data breach. The impact it had on their reputation still plays a role in consumer purchasing.
BEST PRACTICES FOR OPTIMAL CYBER SECURITY
The good news is that having a proper network configuration in place with quality cyber security plans and procedures will discourage hackers and other bad actors trying to steal your data.
You don’t want to overlook the possibility of more sophisticated types of attacks. However, when you prevent lower-level problems, like daily email phishing attempts, your cyber security resources can focus on protecting your organization against higher-level threats.
While you may have some in-house IT security talent, partnering with an IT company offers several benefits. Their hands-on experience with many types of business networks and outside perspective complement your in-house efforts. Your supplemental IT support can work with you to ensure that you have the right network security for your organization’s needs.
The right people, processes and tools cohesively promote best IT security practices at all levels of the organization. When staff outside of the IT department have cyber security policies and regular security training, the potential of falling victim to phishing and social engineering decreases.
Automated processes, such as enforced password changes and removal of non-active user accounts are just two of many measures that keep things safer with the help of a trusted IT partner.
EXPERT SUPPORT FOR YOUR CYBER SECURITY
To successfully defend your organization from cyber-attacks, it’s essential that you have proper professionals equipped with the right tools. Their role is to monitor, detect, analyze, remediate and report threats to a company’s information systems. A high-quality, experienced cyber security team will make the difference before, during and after an attack.
Cyber security is not a role that any tech-savvy professional can simply step into. The background, training and mindset of a cyber security expert require a specific type of IT person. You may not have that combination available from your in-house IT department. Going without is not an option in today’s business environment.
Every organization faces many threats from cyber attackers, but the right defensive measures can make a big difference in your outcomes. From putting a backup and recovery plan in place to getting support from an expert in IT security, you will be doing all you can to protect your business network.
Are you concerned about the safety of your organization’s IT? Start by downloading our Cyber Security Checklist.