How to Strengthen Your Company’s Cybersecurity Practices

How to Strengthen Your Company’s Cybersecurity Practices

Regardless of the size of your company, there is a good chance that you will be a victim of a cyber attack at some point soon.

Cyber threats are incredibly prevalent today. A shocking 83 percent of global organizations experienced phishing attacks in 2018.

Failing to set up effective cybersecurity practices is a sure way to leave your company vulnerable to costly attacks that can cause you to lose data and client trust.

Fortunately, there are several ways that you can build up your network security without needing to shell out thousands. Here are four effective strategies that can directly help to prevent cyber threats!

Keep Software Updated

While it may seem obvious, making a conscious effort to keep software updated is an absolute necessity. This is especially the case with programs designed to prevent cyber attacks, like anti-malware and antivirus software.

It can be easy to overlook and ignore software updates, particularly when they require you to stop working. However, many software updates are pushed out specifically to help improve user security.

Outdated software and cybersecurity programs are the easiest for hackers to exploit since they are old and have fewer security features. The longer a software version is available, the more time a fraudster has to learn how to take advantage of it.

Make it a monthly, or better yet, a weekly habit of ensuring all computers are updated to the newest versions of software available.

Provide Better Education

Another effective way to combat network security threats is by providing better training and education to employees.

In a perfect scenario, everyone at a company would be aware of security threats and know how to handle them. In reality, many people accessing company data don’t know what cyber threats even look like, much less managing them.

It may seem unnecessary, but web safety training is critical to avoiding threats from phishing and ransomware. Everyone must know what threats exist, where they stem from, and how to proceed if an attack happens. This is particularly important for board members in a position of power.

While educating your employees won’t guarantee the prevention of a cyber attack, it is a great first line of defense that can prevent basic threats like phishing. That alone is well worth the time it takes to provide cybersecurity knowledge.

Frequently Create Backups

Unfortunately, there is no way to guarantee that your company won’t be successfully targeted by a cyber attack. You can implement plenty of security systems and provide training, but fraudsters are often quite smart and persistent.

This creates a great reason to frequently back up your company data and files. If you can have this process automated, this provides a reliable way of quickly recovering from a potential attack.

Here is data that you should back up on a weekly (or preferably daily) basis:
● Spreadsheets
● Active word documents
● HR files
● Financial files
● Any databases
● Client information

Data loss can destroy weeks, months, or even years of progress if you don’t create frequent backups. If you’re prepared for disaster, then you might just lose a day or two and can quickly get back on track.

Implement Multiple-Factor Authentication

One final way to improve your cybersecurity is by implementing multiple-factor authentication. This requires a user to verify their identity more than once, providing multiple levels of security before accessing data.

This is particularly helpful when login credentials are acquired through phishing. If a fraudster can enter the correct login information, they’ll run into a roadblock when required to enter a code sent via text, secure token, or even a fingerprint to log in.

Effective multi-factor authentication systems will also analyze where your data is being accessed from. It should be able to identify when a user is trying to log in from an unknown or atypical location, which should prompt an extra layer of security.

While this may slow down the process of your employees accessing data, imagine how much more difficult it is for a cyberattacker to access it. The slight increase in time is well worth the peace of mind knowing that your data is safe and secure.

Closing Thoughts

Cyber threats are on the rise and aren’t likely to go away anytime soon. Rather than leaving your company vulnerable to data theft, you need to take proactive measures to improve your cybersecurity!

Four effective strategies include regularly updating system software (especially security programs), keeping employees better educated on network threats, frequently creating back-ups of sensitive information, and using multi-factor authentication for logins.

A single form of security simply won’t cut it because it serves as your only line of defense. Many network security strategies are exploitable, so having multiple layers of security offers you the best chance of preventing any data loss!

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