What is Cyber Security and How Does It Help Us?
Cyber security refers to the monitoring, assessing, and protecting of the software, operating systems, network, online applications, printing devices, IT (Information Technology) devices etc. from data thefts, security breaches, and malicious attacks. It is nowadays considered to be an inherent part of business management for every organization because a huge part of their operations is IT or network based. Also, the practice of keeping essential business information including client data, financial reports, company receipts, contracts, and other information in written documents has nearly gone. Nowadays everything is saved and recorded in computer systems and electronic databases. Thus, this gives you a clear idea of how cyber security can help us and protect our businesses when everything has become technology and network based.
Cyber-attacks or threats such as hacking, and privacy breaches are not something we are responsible for. Businesses, especially the small ones are common targets of cybercriminals and that makes our data security vulnerable every day. So, the only thing that we can do is to be prepared to respond to the attacks. We should learn about the common and potential threats, assess where our businesses are most vulnerable, and make strategies accordingly to ensure our cyber security. The following section explains in brief what cyber security comprises and how it can help a business.
Concept of Cyber Security in Business
Cyber security is the process of protecting your company’s computer systems, data, networks, technology devices, and software programs from different types of cyber-attacks with appropriate controls. Cyber-attacks are constantly increasing around the world, severely disrupting business operations and harming their corporate reputation. They are also evolving day by day which means you should be aware of the new types of threats. Some of the most common types of cyber threats accounted by businesses are viruses, malware, ransomware, phishing or spam, denial of service (DoS), password attacks, and so on.
With cyber security practices or controls, you can be able to protect your business from different types of threats. Any of these threats could put your data, IT infrastructure support or money at risk. The attackers may get access to your data or network. They harm your business at first but then they can also use your network as a gateway to your partners or companies who are present in your supply chain. In that case, the impact can be disastrous and may cause financial and reputational losses for your business that are hard to recover.
Find Out How Does Cyber Security Help Your Business
While unfortunately cyber-attacks will always exist and you cannot do anything to stop them totally, you can take the necessary steps to ensure you have shielded your data, network devices, and IT equipment from them. Here are the ways cyber security will help you to protect your business.
Education and Training of Employees
Not always intentionally, but employees put business data at risk for breaches or loss. Most of the employees are either negligent or are unable to understand the malicious attempts of cyber-attackers. So, through emails or other modes, they carelessly give attackers access to their networks or devices. There are many instances of cyber security attacks initiated by the employees such as failing to set a strong password for an important database, openly sharing login credentials and opening links in fraudulent emails which contain viruses.
Therefore, the first step to protecting your organization against threats or attacks is providing adequate cyber security training to the employees. Educate them about crucial topics like spotting phishing emails, creating strong passwords, using multifactor authentication, and maintaining good cyber hygiene.
Putting Necessary Actions in Place
To achieve cyber security, you need to put forth some necessary actions and practices across your company. Some of the key actions and practices are:
• Securing internet networks with firewall and encryption
• Making Wi-Fi networks secure and hidden
• Secure the methods of payment processing by negotiating with trusted banks, payment gateway service providers, or card processors
• Controlling manual access to information systems, equipment or devices by unauthorized individuals
Development of Trust in Stakeholders
Adequate cyber security implies that the credentials of your clients and sensitive data of suppliers or other agents of your business are protected from potential threats. This builds trust in your clients and every other stakeholder of your business. They will differentiate your business from others because you stay ahead with best security practices. So, they will intend to remain allied with your company in the long run, thereby bringing up more business opportunities.
Cyber security must not be considered a complex process by any business. Here, we explained how cyber security can help us and so we must take a proactive approach to it. If your business deals with serious confidential information, it is recommended to implement a systematic framework for information and cyber security. The Information Security Management System (ISMS) is the strong framework that you can implement in your business according to the requirements and guidelines of the ISO 27001 standard. This standard is globally recognized for information security management which also covers cyber security. It is achievable by any business and will help you to tighten your cyber security practices.