There are many facets to business and when you’re running you’re own small to medium enterprise or are part of a corporate entity that makes moves with larger contracts or company deals, it should be part of your ethos that security, safety and ease of access of files for employees are part of a wider scheme set in place that also protects the company. In many business owners perspectives; when thinking about the vulnerabilities of the business, can leave a pit in their stomach furthering the development of concerns such as, who is accessing your business files, is anyone else other than your trained employees seeing company data? What would happen if the business was taken offline for merely a few days? Could unwanted leaks of personal data have legal implications including reputation and financial damage?
To give a better understanding of how common it is for a company to experience network security issues, here we will provide you with some interesting statistics that illustrate just how frequent network security and compromised business infrastructures, actually are.
In March of the year 2018, it was reported that 43% of cyber attacks targeted small businesses.
The average median cost of a data breach this year could exceed $150 million, especially by the end of 2020, as more business infrastructure gets connected around the globe.
The average time for businesses to detect malicious intent, or criminal attack, which was taken by a global survey of organizations, was as long as170 days.
Only four years ago in 2016, it was reported that up to 40% of companies expect a data breach caused by malicious insiders, including clients who may have access to company data.
It is nothing new that more and more businesses are moving onto the web with building sleek and professional websites, cloud, or at least have the majority of the business workings, sales and employee details on computer records; to say the least, online or within some secure server. Having a top-notch IT Department can help business managers focus on areas which help the business grow and may need focus.
Here are more ways Business Owners can take action to prevent compromisation of services:
1. Train Company employees in Company security principles.
2. Clean and Update systems accordingly to minimize Cyber Attacks.
3. Always ensure a Firewall security software is installed to monitor the Internet connection.
4. Backup all company data accordingly, including business information and documents.
5. Control physical access to your computers and create user accounts with passwords for each employee.
6. Secure any Wi-Fi networks and restrict use for personal browsing.
7. Implore best security practices on any registered business payment cards.
8. Limit employee access to data and information, using the account privileges.
Generally, from the evolution of the World Wide Web and then businesses utilizing more automation and looking for the most efficient way to run the company, or how a company operates and works with other businesses. If there is a possibility that the business may merge or acquires any other assets, having access to a virtual data room for a secure data room due diligence, is a great way to provide company information in a safe environment and allow all people involved in M&A procedures to feel safe, informed and at peace with the bank-level encryption that is dealing with private and/or sensitive business information.
Has there been an experience you have had with how to keep businesses secure? Do you own a business and have any other tips you would like to add? Or have you been involved in a merger or acquisition and have any further advice, let us know in the comments below.
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