“If you spend more on coffee than on IT security, you will be hacked.” Richard Clarke
As quirky as it may sound, it is a fact that cybersecurity is an essential need- regardless of how big or small your company is. Besides, it’s always better to have a managed services provider to address your cybersecurity concerns, rather than burden your staff with additional responsibilities.
But why is cybersecurity so crucial for small businesses? Obviously, the risks to cyber security come in various forms, and most small businesses are inadequately equipped to deal with such challenges. Let’s delve deeper into the signs indicating the need for the same.
5 Key Security Threats to Small Businesses: How to Protect Your Company
1. Phishing
Phishing occurs when hackers pose as trusted contacts, gain users’ trust, and entice them to click on a suspicious link. The link usually downloads harmful files onto the user’s computer.
2. Malware
Malware is a dangerous code that hackers create to gain access to, steal data, or cause destruction.
3. Ransomware
Cybercriminals use encrypted malware to deny access to your entire IT system, rendering it useless until you pay the ridiculous ransom they demand.
4. Insider threats
One of the most unexpected IT challenges is dealing with threats from within the company. Such unfortunate incidents occur when a current or former employee misuses their official access to your IT data to steal or use it for their own gains.
5. Weak passwords
Hackers can easily breach through the most robust firewalls and other security measures. With that being the case, they will not hesitate to crack weak passwords. The risk is far greater if you reuse the same password without renewing it.
As a business owner, regardless of the size of your company or the number of offices you have, it’s crucial to prioritize cybersecurity in the current digital age. Cyber threats are becoming increasingly sophisticated, and it’s no longer enough to simply have basic antivirus software installed on your devices.
However, before going to that extent, you need to identify the red flags that signify the need for better cybersecurity. Our next section will explain what these signs are.
8 Signs Your Business Needs Cybersecurity Services
1. More incidences of cyber-related incidents.
Any indication of ransomeware, trojans, and viruses signifies that your system is compromised. Also, an increase in malware attacks and an apparent inability to address the evolving threats are a clear indication of insufficient security measures.
2. Inadequate employee awareness and cybersecurity training.
Did you know your employees are the weakest link for cybercriminals to access your system? The risk is multifold if your employees lack adequate training and awareness to identify phishing emails, malicious links, and other masked threats to your IT ecosystem. Hence, it is imperative to invest in training and awareness for your employees because they are the first line of defense for cyber security.
3. Running your IT infrastructure with legacy systems.
Outdated systems are a huge risk for more reasons than one:
- Large number of software patches.
- Lack of security updates that exposes your company to risks.
Fortunately, investing in managed cybersecurity services ensures that your legacy systems are consistently scanned and upgraded to minimize the risk of cyberthreats.
4. An inefficient IT team.
Not all small or medium-sized businesses are equipped with an IT team with the bandwidth to manage their daily tasks. They may be spending most of their time responding to emergencies and putting off maintenance tasks. A trustworthy cyber security managed service provider can assist your IT team in handling everything on their plate. Their services will ensure efficient collaboration and productivity between your remotely located IT team members.
5. Regulatory pitfalls and non-compliance.
Are you aware of the regional and international cybersecurity regulations that apply to your business? Are you aware of GDPR (General Data Protection Regulation) and its guidelines for collecting and processing customer data? Lack of awareness may affect your compliance, which in turn can have dire repercussions for your business.
However, hiring a managed cybersecurity service provider gives you with the expertise to remain compliant and establish the right framework to institute policies that align with the standards.
6. Lack of secure data storage facilities.
Cybercriminals are keen on stealing customer, employee, or financial data from all kinds of businesses, regardless of their size. Even if you are a small business, your database may contain sensitive details like your employees’ Social Security numbers, bank account details, date of birth, family members, medical history, etc. An experienced cybersecurity service provider will give you the professional protective measures needed to safeguard your sensitive data.
7. Running your business with a remote or hybrid workforce.
With the shift towards remote work due to the pandemic, many companies have adopted fully remote or hybrid workforces. These working models come with new risks that introduce additional layers of complexity, which requires time and technical knowledge to properly mitigate them. If your business has implemented remote work in any capacity, it may be time to consider managing cybersecurity to defend your distributed workforce and their technology. This is especially important if you have a virtual-first approach to save on office space costs or a hybrid model with both in-office and remote staff.
8. Extensive money transactions.
If your business deals with large financial transactions, it may be a prime target for hackers trying to access your financial data. Hackers may use e-skimming to access your digital business webserver to derive all the valuable information they need. If you are an online store with extensive financial credentials, you need to be on the alert. One simple way to make things easy for yourself is to hire a cybersecurity managed service provider to safeguard your information at all costs.
With cyberthreats challenging you in every possible way, it makes immense sense to arm yourself with a reputed IT solutions provider like CMIT Solutions, Tempe. So, how does a managed cybersecurity service provider work for your organization? Let’s unravel the details in the next segment of our blog.
The Role of Managed Cybersecurity Service Providers
A Managed Service Provider (MSP) or a Managed Security Service Provider (MSSP) takes into account your security requirements to draft a customized solution. Their fully managed cybersecurity services eliminate the need to maintain a special cybersecurity team, which can be a huge budget strain for small businesses.
- An MSP or MSSP’s role includes:
- Handling of the cybersecurity tech stack
- Responding to cyber threats
- Keeping you informed of your security status
- Thwarting cyberattacks to ensure round-the-clock operations
- Leveraging new technology to scale your security measures
- Deployment of in-house security operations
In a nutshell, hiring a cybersecurity service provider gives you the peace of mind you need to run your business and focus on its growth.
Closing Thoughts
Cybersecurity is not just an additional layer of security. Instead, it is protecting the very core of your business. Therefore, knowing the distress signs is a must to fortify your digital assets and data.
Collaborating with a top IT service provider like CMIT Solution, Tempe, is the easiest way to stay fully guarded against cyber threats. Reach out to our team to list your requirements. Stay safe and drive your business with CMIT!
