With the rise of cloud computing, mobile devices, and other technologies, the risk of cyber attacks is increasing exponentially. For example, a report by Rick Based Security indicated that 4.1 billion records were exposed in the first half of 2019. What’s worse is that 68% of all security breaches take months or longer to detect. As such, enterprises need to invest in robust cybersecurity solutions to safeguard their systems and data. Use this enterprise security checklist to strengthen your business against cyber attacks, data loss, and more.
Why Cybersecurity is Critical for Enterprises
From governments to small businesses, everyone is at risk of being hacked or attacked by malicious hackers. In 2014, Chinese hackers broke into a US government network and stole the personal information of 21.5 million government employees. How long did it take to detect this cyber attack? Almost a whole year! Further, as companies continue to grow and expand, they often outgrow their IT departments, leaving them vulnerable to attacks. The costs associated with these cyber attacks can run into millions of dollars. According to a 2022 IBM study, the average cost of a data breach is $4.35 billion USD. Here are some of the top reasons why companies are turning to enterprise technology solutions to tighten up their cybersecurity measures:
Protect your company’s assets
Data is one of your company’s most valuable assets. Safeguard sensitive data against breaches and attacks while increasing productivity and efficiency with a secure IT infrastructure.
Competitive advantage
Companies that invest in cybersecurity gain an edge over competitors that don’t. When customers know that your organization takes cybersecurity seriously, they’re likely to trust your products and services.
Regulatory compliance
Several federal cybersecurity laws require healthcare, financial, and government entities to meet security standards for their systems and data. Some states have also enacted their own cybersecurity laws, such as California’s 2018 “Security of Connected Devices” law. This law requires manufacturers to equip devices with appropriate measures to protect the device from unauthorized access.
Demonstrate ethics
Protecting sensitive information is a matter of ethics. If you fail to take steps to secure your technology, you’re putting your customers, company, and employees at risk and potentially violating laws.
Maintain productivity
Your business can’t function without its IT infrastructure. Without proper cybersecurity protections, your organization risks the loss of valuable customer data, intellectual property, financial records, and confidential documents. Security breaches disrupt operations, resulting in loss of productivity and revenue.
Cybersecurity Solutions Checklist to Mitigate Risk
Cyber threats can be internal or external to the organization and come in many forms, including viruses, malware, phishing, denial of service (DoS) attacks, social engineering, and others. According to Cybercrime Magazine, global cybercrime costs are predicted to hit $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015.
Fortunately, there are ways to protect your business. IBM’s Cost of a Data Breach Report 2021 found that automation and security artificial intelligence (AI) provided the biggest cost mitigation, up to $3.81 million USD less than organizations without it. Bolster your cybersecurity by ensuring your enterprise technology solution provides the following security features:
Database security
Databases contain valuable business information that must be protected from unauthorized access, modification, or destruction. To do this, administrators use a variety of best practices and database security solutions to protect against theft and misuse. These include physical security, network access controls, device security, encryption, software security, application/web server security, backup security, and auditing.
File storage security
Files stored on file shares, shared folders, and cloud storage accounts are vulnerable to attack. IBM’s Cost of a Data Breach Report 2022 states that 45% of breaches occur in the cloud. Therefore, sensitive information such as bank account details, credit card numbers, and personal photos can be easily stolen from unprotected files. Encryption, strong passwords, and appropriate permissions are critical for file storage security.
Network security
Networks connect devices together and provide them with access to critical resources, however, they’re prone to attack due to numerous potential points of entry, such as physical access, wireless connections, rogue WiFi hotspots, and malicious websites. Network security should include multiple layers of protection to detect and prevent different types of threats.
Safeguard Your Enterprise Technology
Cyber attacks are a major concern for companies and governments around the globe. Over the past decade, the number of data breaches has skyrocketed and continues to grow, leading more businesses to implement cybersecurity solutions and update policies and procedures. Achieve airtight security with top enterprise security solutions that are designed to detect, prevent, and protect against cyber attacks.