Whenever we talk about the digital world, there is one thing that has not yet improved from past many years, and that is cybersecurity. When you look at the curve, you will notice that cybersecurity thefts and issues have constantly risen with the time.
As per trusted reports, many US companies experienced data breaches that cost exposure of almost 446.5 million records in the year 2018 alone! Moreover, every 39 seconds, a hacker tries to break into a system to steal sensitive information from it. Regardless of all the firewall protection and safety tools, the cybersecurity issues are increasing day-by-day and are impacting a lot of businesses from small to big!
Here are a few more facts that can build a complete picture of how crucial a cybersecurity strategy is for your business.
- The total economic losses recorded by the Internet Crime Complaint Centre was almost $1.22 billion.
- As per a report, small businesses are much prone to cyber thefts, almost 58% to be precise.
- 90% of all the cybercrimes occur because of some human errors in the system.
- The average loss of cyber attacks in small businesses is almost $35k.
Even after witnessing this huge and concerning statistics on cyber crimes, most of the business still thinks that their organization is safe from cyber thefts and online frauds! So, what can be done?
The first and foremost aspect to deal with those cybersecurity issues is to build a strong cybersecurity strategy. But, how? If you have the same question in your mind, then don’t worry. We have got you covered!
Here are the top five tips for building a strong cybersecurity strategy to protect your business from online frauds and data thefts. So, let’s get started!
Developing a Cybersecurity Strategy
1. Train your Employees
As witnessed above, many of the cybercrimes occur because of small human errors that may be done by your employees while handling the systems. So, the first and foremost thing that you can do to ensure minimal or no data losses is to train your employees on cyber thefts and cybersecurity strategies.
For that, you can schedule training programs and expert sessions that convey the vitality of cybersecurity in business growth. Moreover, if your employees are already aware and trained of cybersecurity strategies, you can update them over latest tools and security practices. Remember, not even a single person should be left behind, as data breaches can occur because of even a single person irrespective of its designation.
2. Invest in Data Encryption
Data encryption and multiple-factor authentication are some of the best cybersecurity practices to ensure proper protection of your sensitive data. It is no surprise that every system manages some sort of private information, whether it be bank details, customer;s information, or even signature and fingerprints.
That’s why, apart from best QA services, you should also include complete encryption tools while designing your enterprise software. Why not leverage already built encryption solutions? That’s because it relies on third-party vendors to get updated as per latest trends.
Additionally, you can even leverage blockchain services to secure and monitor every transaction happening inside your organization, or between vendors and your organization. Blokchain secures the financial records and encrypts every transaction to prevent online frauds and scams.
3. Update your Systems and Create a Backup
Regularly updating your system and creating a backup of essential data is always the best choice to prevent any economic or data loss. Using the latest version of the enterprise application is the perfect way to ensure complete protection and they are built in accordance with the latest security and privacy rules and norms.
Now, these things might seem an easy task, however, it gets complicated when you use a ready-made software solution for your enterprise. In a white label solution, the updates and support depends on the vendor and it may vary from person-to-person. That’s why you should always invest in a custom software solution. An experienced software engineering firm will have expert QA engineers that will test even a minimal bug that may have been overlooked during the development process.
One more thing that is to be noted here is the size of your organization. If you have multiple departments and large organizations, then it is certain that you will have many systems that need to be updated. And such a huge process might take some time.
4. Leverage Zero Trust Networks
Now that we are talking about cybersecurity strategies, there is one proven model that has been leveraged by most of the people in recent time. Yes, we are talking of zero trust models! Zero trust networks are promising and powerful cybersecurity models that verify every user and device before providing them access to sensitive information.
Besides that, zero trust networks also enable authentic log in and access to all the users as per their access rights and controls. All those security measures limit the unwanted and suspicious access to your system thus eliminating any cyber thefts and data breach conditions.
Apart from that, you can even track all the users that logged in to your system and can monitor their activities while sitting remotely to identify any malicious activities.
5. Enlist Professional Guidance
Last but not least, if you feel that your system or enterprise application might be under serious hacking conditions, then it’s better to seek professional help. There are plenty of cybersecurity consultants today that can guide you to the best cybersecurity practices.
However, one thing that you may want to take care of is the hiring of a cybersecurity expert. Often it is witnessed that hiring an experienced cybersecurity firm is better than hiring a single person. That’s because it is more difficult to confirm the credibility of a freelancer than an experienced firm. Also, you can always have a written legal document in the case of a firm which is not an option in freelancing!
Needless to say, an experienced cybersecurity firm will even cost you a penny more than a freelancer. But, at least that much you could afford to secure your systems!
So, those were some of the best cybersecurity strategies that you could adopt to safeguard your enterprise’s systems and applications. To conclude, we can say that, although developing and implementing strong cybersecurity plans could be a little over the cost, you should never plan to stop it! Data is the biggest asset for any organization, especially the one that deals directly with the customers. In such a case, the importance of data security increases. You should also invest in good cybersecurity practices, and should always invest in trusted customizable solutions.
We, at Matellio, ensure complete safety and security of your software by including the latest security systems and tools while developing your software. We have trusted QA engineers and experienced developers that have most promising portfolios and projects to prove their talent. Want to know more about our secure development project? Reach us today and get a free 30-min consultation on your next project!