You may have a complicated password and reliable Wi-Fi, but does that mean your business data is protected?
Whether your business is small and has one website and an email address, or you have an expansive online presence and use Cloud computing, cyber security always needs to be a top priority. With digital information theft becoming one of the most common forms of fraud, SMEs are one of the most frequent targets due to their lower defences.
Especially if you are a customer-focused organisation, it’s critical that your business protects its sensitive and financial information. Additionally, with the rise of remote and hybrid work environments in recent years, finding ways to remotely monitor systems and improve cyber security is essential.
As a provider for managed cyber security services, KubeNet has offered award-winning solutions to businesses across different industries to protect their data. In this article we’re sharing some of our team’s top cyber security tips for SMEs.
Why Cyber Security Is Particularly Important to SMEs
In April 2024, the Cyber Breaches Survey conducted by the Department for Science, Innovation and Technology (DSIT) reported that around 50% of UK businesses experienced a cyber-attack in the last 12 months. The impact of these attacks can vary depending on the type of information stolen and your company’s industry; however, on average, they cost each business, of any size, approximately £1,100 according to the DSIT. That’s all to say, hackers can be motivated by any number of factors ranging financial gain, politics and notoriety.
It’s no secret that this is a problem. Especially for small to medium-sized businesses that may not have the proper defences in place, or that may be hit harder by an unexpected financial loss. So, how can we understand what allows cyber-attackers to succeed?
IBM has previously estimated that 95% of cyber-attacks succeed due to human error.
Security breaches are made possible when employees open malicious attachments or have weak passwords. With social media and access to your company network spread across many devices, criminals can find different avenues to relentlessly prod at your defences. This can take shape with them finding ways to reach out to your employees and using them to gain access to business information. For example, sending employees a text posing as your company owner asking for a favour.
Sometimes the attacks aren’t initially obvious, and often businesses have been compromised months before they discover the breach. For this reason, criminals can be relentless and once they identify a target, they will invest the time to break into your enterprise. In today’s age, this is not limited solely to banks or larger corporations. In the age where all businesses rely on internet and digital information, cyber-attacks targeting money, intellectual property, customer data happen to organisations of all industries.
How to Audit Your Current Cyber Security
So, you’re wanting to prioritise your organisation’s security. Now what?
If you’re looking to upgrade or build upon your cyber security efforts, it’s necessary to assess your current status by conducting an internal and/or external cyber security audit.
Cyber Security Audit: This assessment is meant to cover all systems that are connected to the internet and evaluate their security and compliance. An internal cyber security audit, completed by your in-house IT team, can be focused on identifying vulnerabilities and gaps in your current system. An external cyber security audit involves outsourcing a managed cyber security services provider to assess your entire network from both a security and compliance perspective.
The framework involved in a cyber security audit usually includes investigating:
Operations – cyber security policies, controls, and practices
Network Security – network performance, infrastructure security, and device access control
Data - TSL encryption, authentication, and authorisation controls
System - hardware, operating systems, and other infrastructure
Physical Security - access to software, hardware, and application data
By evaluating these aspects of your cyber security management, you will be able to identify gaps to empower your team to make improvements or to find a third-party cyber security solution to make the changes your business needs.
Ways to Improve Your SME's Cyber Security
Once you know where your areas of improvement are, there are some key steps you can take in order to ensure you’re implementing best practices.
Create (or update) cyber security company policies: Establish and distribute a set of guidelines for employees to follow in regard to activities involving your network. Factor in best practices for passwords, company and personal device use, social media, authentication, and anything else relevant to your business.
Train employees: It’s never a bad idea to keep your team up to date with the latest policies and threats that face your business security. Hosting training sessions about how to handle devices and access will be another way to increase safety.
Implement best practices for payments: When using payment systems, isolate them from less secure programs and use a different computer to process payments from the one you where you browse on the web.
Limit accesses: It’s important to limit access to systems that are only relevant to each individual employee’s role. It’s also not a bad idea to implement measures such as key cards or more robust locking mechanisms for computers and important offices.
Know your data: Minimising the number of places where your data resides will minimise the risk of it getting into the wrong hands. Ensuring you have full control over its location and distribution is a foundational part of security.
Back up your data: If you’re data isn’t effectively backed up regularly, you place your business at risk. Protect your data with modern disaster recovery cloud solutions such as Datto.
Following these protocols will set up your business for better cyber security management and less threats against your business. However, implementing these steps solely through the work of an in-house team can be a large undertaking.
How A Managed Service Provider Can Help Improve Your Cyber Security
Cyber security solutions and services often require some outside assistance apart from your own in-house IT resources. Because even a full-time employee can’t monitor your network 24/7, or dedicate all their time to staying on top of cyber security regulations, IT managed service providers (MSPs) offer comprehensive cyber security solutions.
With the robust solutions an MSP can provide, businesses gain complete protection and the peace of mind that they’re secure with a strong cyber front against attackers. Providers usually include a team of IT specialists across disciplines, meaning their expertise will allow for strategic recommendations and cost-saving insights.
In KubeNet’s case, we are a Datto Platinum Partner, working with this industry leader to offer solutions that protect your business at every level, including: SaaS Defense for Microsoft 365, which blocks incoming malware attacks spread by email or through collaboration tools like Microsoft Teams, OneDrive, Sharepoint and Exchange.
Many businesses today can’t live without the flexibility and connectivity they get from modern cloud collaboration tools, and certainly no business can operate without email. The trick is to leverage the power of digital connectivity while guarding against the opportunities it creates for cyber criminals. For that, you need layered cyber security defence, which KubeNet can help you implement - enabling prevention, early detection, and swift recovery of your systems. Ultimately, giving you the peace of mind that your business is protected from cybercrime.
Reach out to KubeNet’s team of Cyber Security experts to explore your options.
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