Building business resilience through powerful cybersecurity


Date: 24 August 2023

A team discuss how they can boost their cyber security measures.

As cyberattacks continue to make headlines, businesses are becoming increasingly aware of the importance of improving their cybersecurity. Given that companies now operate in a digital economy, it's paramount that they handle all the threats they face. Not only should businesses be able to prevent cyberattacks, but they should also have a recovery plan in place that helps them get back on track as soon as possible.

No company ever thinks that it could be the next target of cybercriminals, but you should never be complacent – after all, your business data and reputation are at stake. This blog will provide advice on how to make your venture more resilient by implementing solid cybersecurity practices. But first, let's break down the concept of cyber resilience and why it matters for your organisation.

Cyber resilience: the key to building a culture of security in your company

Simply put, cyber resilience refers to a set of processes, strategies and tools businesses implement to protect themselves from cyber threats and avoid financial losses. Cyber resilience is crucial for all ventures, no matter the size or industry they operate in. Since cyberattacks are becoming more sophisticated, ventures need to take proactive steps to protect their data and financial assets.

Unfortunately, organisations often fail to implement even the most basic cyber resilience measures, leaving them susceptible to cyber threats with a massive impact on their bottom line. But the good news is that focusing on cybersecurity can prevent these negative consequences. Ultimately, this ensures business continuity, reduces downtime associated with a potential breach, and helps build customer confidence and trust.

How to make your venture more resilient by investing in cybersecurity

Engage team members

Employee engagement is a crucial part of your cyber resilience plan. You want to make sure that everyone at your company understands the role of cybersecurity in protecting business data and that employees have the skills and knowledge required to recognise and respond to different online threats.

Therefore, as a business owner, you need to provide incentives for your team members to take ownership of strategies that help build cyber resilience. This could mean offering bonuses or rewards for successfully implementing security measures or providing feedback on their cybersecurity efforts. You should also conduct regular reviews to make sure team members are up-to-date with the latest industry developments and follow the best practices for online security.

Focus on cyber risk management

Cyber risk management involves identifying, evaluating and managing the impact of a potential cyber security attack on your organisation. In other words, the process comes down to understanding the threats coming from external and internal sources and taking action to prevent them. If your business is unprepared for a potential attack, it could suffer significant consequences, including damage to your brand reputation, financial impact, and loss of employee morale.

Antivirus software is a critical aspect of cyber risk management, helping safeguard sensitive data and protecting against different types of new or old viruses. Since not all antiviruses are created equally, you want to take the time to choose the best product for your business. For instance, you can select one of the Norton security offers, ensuring you get the best features at the best price.

The importance of antivirus shouldn't be overlooked, given that it provides real-time protection, enabling you to run full system scans at a scheduled time. Besides the core functions of the antivirus software, it is recommended you also look for extra features like 24/7 customer support and a VPN.

Remember that most antivirus software has an expiry date. So, if you want to stay protected at all times, consider buying a Norton renewal. However, it is worth noting that antivirus software alone isn't sufficient for comprehensive business security. You should also implement robust IT and security policies.

Be prepared to respond

Cyber threats evolve all the time, and your business should do the same. Even if you implement excellent procedures and policies, but they may not remain so in the future, and annual cybersecurity reviews may not be enough to address evolving threats.

Being responsive plays a crucial role in keeping up with emerging cyberattacks. This means creating a culture that encourages team members to report a cyberattack as soon as it occurs, adopting policies that offer clear information on dealing with a cyber-attack, and developing mechanisms to monitor and improve security measures. An incident response plan can help you minimise the damage caused by a cyberattack, helping ensure you can return to business as quickly as possible. So, consider what the recovery plan would look like if your company was involved in such an incident. Doing so will help you prepare for the unexpected, allowing you to react quickly and keep running your operations effectively.

Get cyber insurance

Regardless of where and how you run your business, getting cyber insurance is a critical step in protecting your organisation from a digital threat. A data breach has devastating effects on a venture, and the financial consequences associated with it can cripple a venture, especially a small one. In general, businesses budget for everything but the risk of a cyberattack. However, if you are targeted by bad actors and don't have insurance to cover the damages, the expenses could put your business out of business. Cyber insurance offers coverage for different costs associated with cyber-attacks, helping ensure you can recover quickly from such an incident.

The bottom line

There's no doubt that cyber resilience is imperative for all businesses, as it helps them prepare for potential threats, giving them peace of mind as they know their business can keep running no matter what happens.

As more businesses are moving from offline to online, the need for cyber resilience becomes more important than ever. So, implement these cyber security practices today to ensure your venture stays on the right track.

Copyright 2023. This article was made possible by supporter GETX Local Company.

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