Cyber Readiness: Where Does Your Business Stand?

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In 2020, the Cyber Readiness Institute (CRI) released a survey of 400 fellow owners of small businesses that had both good and bad news.  Practically all (89%) of those sampled had moved to a remote workforce model during COVID’s stay-at-home mandates. But firms with fewer than 10 employees appeared less concerned about cybersecurity threats than firms employing more than 10.  CRI portrayed the gap this way: “The smaller the business, the smaller the focus on cybersecurity.”

WHAT WAS THE RESULT OF THE SURVEY?

Pollsters based their results on numerous data points, including how much time, money and workforce businesses put money into cyber-related safeguards. For instance, less than half (45%) of company owners with fewer than 10 employees increased their cybersecurity-related spending since stay-at-home directives began, compared with 80% of business owners with more than 10 employees who did invest in raising cyber protections.  Kiersten Todt, CRI’s Executive Director, cautions this about environments at present day and in the future, “Small businesses remain a primary target for malicious actors looking for vulnerable targets.”  

Although there are differences in how small business owners perceive and prepare for cybersecurity threats, the Institute’s findings also show common ground between the two different-sized groups. Password management and phishing attacks surpassed the list of security concerns for nearly half of all owners and about the same number said that, in the post-COVID era, they will keep at least a partial remote workforce.

WHAT IS PASSWORD MANAGEMENT?

More succinctly for those who are not familiar with this terminology, password management is a set of principles and best practices to be followed by users while storing and managing passwords in an efficient manner to secure passwords as much as they can to prevent unauthorized access. Zoho 

WHAT ARE PHISHING ATTACKS?

Phishing is a type of social engineering where an attacker sends a fraudulent message designed to trick a human victim into revealing sensitive information to the attacker or to deploy malicious software on the victim’s infrastructure like ransomware. Wikipedia

Finally, about one-quarter of all leaders surveyed reported that they plan to hire new technology services in the form cybersecurity staff or IT consulting which would be a wise step toward protecting any business, especially ones that need remote workforce support.  Another IT solutions protection discussed was employee cybersecurity

awareness training, where, in the CRI survey, the group with owners of more than 10 employees invested twice as much as their counterparts with less than 10 employees.   

WHAT IS CYBERSECURITY AWARENESS TRAINING?

Cybersecurity awareness training is the process of personnel being trained in information security.  It is formally educating a workforce on the importance of IT security issues, threats that exist, how to recognize them, and steps to take to keep themselves and their company safe.  It should be noted that CRI, like TeamLogicIT and most security experts, considers employee education an essential security precaution, regardless of business size.

If your business is ready and willing to learn about some eye-opening security moments and how to resolve them with technology solutions such as backup and recovery, IT help desk, Email support, firewall setup, network assessment, virus protection, and business continuity planning, then call TeamLogicIT Plano, a Managed Services Provider, today (469) 573-3743 or go to our website at teamlogicitplanotx.com

FREQUENTLY ASKED QUESTIONS ABOUT CYBER READINESS

WHAT ARE THE 5 C’s OF CYBER SECURITY?

The five c’s of cybersecurity are change, compliance, continuity, cost, and coverage.   

WHY IS CYBER READINESS IMPORTANT?

There are a couple of reasons why cyber readiness is important: 

  • Damage from a cyberattack may result in a company’s financial loss, reputation, and forfeiture of IP personal data.
  • Cyber readiness can bestow on a business a competitive advantage as a partner or supplier, lessen down time, and guarantee IP and other assets are safe.

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