Businesses need to understand and appreciate that cybersecurity is more than just about compliance. Yes, compliance and regulations will matter, but cybersecurity is about avoiding security breaches and mitigating risks of cyberattacks, which can have a domino effect on the organization. Damage to business image, client retention rate, and overall reputation can take years in recovery, not forgetting the financial losses and possible regulatory consequences.
Cybercriminals and hackers are constantly trying to find security vulnerabilities. Heterogenous IT infrastructure & cloud solutions only make things complex for organizations. There is no assurance that a hack attempt can be prevented, but being proactive always helps. In this post, we will discuss some of the best ways to streamline cybersecurity and things that matter the most.
Training employees is a must
More companies are training people within the organization on cybersecurity, and they are hiring experts and professionals from other businesses for that. Employees are on the forefront of protecting data and network assets, and they have to know what cybersecurity is all about. Also, along with their role in ensuring cybersecurity, they must know the possible consequences of their actions. The idea is to educate employees and managers, instead of scaring them.
Invest in cyber insurance
There are pros and cons of cyber insurance policies, but you can mitigate some of the risks considerably. Check the terms & conditions, what a policy covers, and how it can help your organization. Yes, cyber insurance is expensive for sure, but the price is worth paying. However, keep in mind that any compromise in cybersecurity measures and practices, which eventually led to an incident, may impact benefits of such insurance.
Have an incident response plan
Unfortunately, not many businesses focus on this aspect of cybersecurity. Having an incident response plan is an absolute must. Let’s say that a computer has been infected with malware – What should an employee do? When to involve cybersecurity experts? Is the incident serious enough to be reported to authorities? Make sure that the course of action following an incident is clear to managers, and encourage employees and frontline executives to report such cases.
Focus on password protection
Ensure that your employees are using a password manager, are aware of safe browsing practices, and know what it takes to create strong passwords. Password hacking is common, and it often happens because passwords used are not strong enough.
Also, change all default passwords and usernames immediately.