8 Critical Cybersecurity Tips For Businesses
Cybersecurity requires continuous monitoring and keen foresight to protect your business from vulnerabilities.
Safeguarding your organization from the growing threat of cybercrime demands a proactive, multifaceted approach. Working with a managed IT partner who provides comprehensive IT services—including cybersecurity—can save your business lost productivity and revenue if threatened by cybercriminals.
The following are eight essential cybersecurity tips for businesses. The real-world insights that back these recommendations demonstrate why you shouldn’t wait for an electronic breach to prioritize your digital security.
1. Understand your vulnerabilities
Understanding your organization’s technological vulnerabilities is crucial to protecting your business from predators.
Different business sectors face distinct challenges, from healthcare’s sensitivity to data breaches to the financial industry’s exposure to cyber fraud. The staggering average cost of a U.S. data breach in 2023—$9.48 million—underscores the financial repercussions many companies find irreparable.
It’s impossible to overstate the importance of annual risk assessments, especially when it comes to identifying sector-specific perils. Evaluating and understanding your vulnerabilities guides the targeted implementation of security measures tailored to your unique risks.
2. Routinely update software and systems
Ensure your organization’s systems are up to date to help shield them from cyber attacks.
Regularly update security protocols, software, operating systems, and hardware. Nearly 40 percent of sensitive data loss within organizations occurred due to operational security vulnerabilities, according to a 2023 analysis.
A proactive approach to systems maintenance includes internal and external monitoring. Consider exterior sources that connect to your network, such as devices used by employees outside of the office.
3. Regularly back up data
Regular data backups are indispensable should your business suffer a data loss or breach.
A data backup preserves pertinent information in the event of an accidental data loss or deliberate cyber attack. A majority of business directors and risk managers believe that data loss is the most significant threat to their organizations, according to a 2022 survey.
Automated, cloud-based backup adds dependability and efficiency to a cybersecurity strategy. Auto cloud backup facilitates the regular and seamless replication of relevant data to off-site servers.
4. Secure your network
We can fortify networks in several ways, including firewalls and virtual private networks (VPNs).
Many people are familiar with firewalls, which act as digital barriers against unauthorized technology access. VPNs protect users through data encryption and by masking users’ IP addresses.
In the early 2000s, only a handful of niche businesses used VPNs. Today, it’s believed that more than 50 percent of adults use a VPN at work, according to a 2023 Forbes report.
By integrating advanced security measures, businesses enhance their cybersecurity position and effectively ward off potential cyber-attacks. This ensures a secure and resilient digital infrastructure.
5. Plan for incident response
A robust incident response plan can help your business be resilient should a security breach occur.
Clearly define incident response roles and responsibilities within your team. Hold regular training sessions to keep your team up-to-date and well-prepared.
Establish communication procedures to ensure accurate and timely information distribution. Routinely review and update your incident response plan to align with emerging threats and your evolving business landscape.
6. Prioritize employee training
Employee awareness is paramount in this age of cybercrime.
Educate your staff about recognizing and avoiding phishing and other electronic scams. Emphasize the importance of verifying email sources and links and protecting sensitive data including passwords.
In the first quarter of 2023 alone, nearly 60 percent of employee-reported emails were intended to steal credentials, according to a Statista phishing report.
Ongoing cybersecurity training programs help keep employees vigilant, informed, and equipped to act as the first line of defense against evolving cyber threats.
7. Implement multi-factor authentication
Multi-factor authentication (MFA) is a simple but effective way to enhance your business security.
MFA adds a required second layer of security, typically using a personal device for identity verification. This further protects sensitive business accounts and information.
Deploying MFA can make you 99 percent less likely to be hacked, according to information cited by the U.S. Cybersecurity & Infrastructure Security Agency.
Incorporating it not only bolsters your organization’s security but also aligns with regulatory requirements, such as those set by the Financial Industry Regulatory Authority (FINRA), which mandates MFA for businesses.
8. Use managed IT services for bundled cybersecurity
Choosing managed IT services that bundle cybersecurity offers several advantages over ad-hoc IT support.
Bundled IT services benefit businesses through a fully integrated strategy that addresses all facets of IT operations and cybersecurity. On-call IT support often results in fragmented security measures, gaps in protection, and insufficient workforce preparation for cyber attacks.
Managed IT services enable consistent, proactive protection with prompt issue response for a flat rate. This approach also allows you to scale up or down with your changing business needs.
Conclusion
Protecting your business from cyber threats requires a proactive and holistic approach to IT management.
From understanding your vulnerabilities to securing your network to implementing multi-factor authentication, the tips reviewed here are the foundation of cybersecurity. But as technology advances and criminals become more sophisticated, these cybersecurity pillars must be built on and updated.
For additional information about elevating your organization’s cybersecurity defenses, learn more about Chortek’s managed IT services.
