Recent UK research by the government shows that less than half of businesses do not seek assistance on cyber security risks.
In contrast, 69% of firms within the financial sector were seeking advice in the last twelve months, and nearly a quarter of all medium and large firms and 39% of small enterprises chose not to consult with an outside source of information or advice.
This comes when almost one-third of businesses are being targeted, with the majority saying they suffer from cyber-attacks or breaches at least once per week.
If attacks are getting more frequent, Why aren’t more companies taking a proactive approach and seeking assistance on security?
A lot of businesses choose to take the reactive route.
As we all know, the consequences of a cyberattack are essential, from the disruption of systems and the loss of data to the massive cost of repairing your network and the significant harm to your reputation. The distrust of a company because of the loss of customer information is usually enough to lose customers and sales. Although many companies take the reactive route to protect themselves, you must be proactive in strengthening your security defenses. Otherwise, you’ll end up being too late.
Cyber security is seen as an expense, not an investment.
Many businesses think of cybersecurity as a burden rather than an investment. They prefer to take a chance with ‘off the shelves’ cybersecurity products and manage the entire process themselves instead of seeking out external assistance as well as investing in the most secure quality of protection. There isn’t a quick solution or corner-cutting in cybersecurity. Businesses need to consult with experts and invest in the right way. Cyber security is an investment for the future of your business.
Proactive solutions
Although cyber-attacks are most often due to simple errors like employees clicking on email scams or using easy-to-break passwords, the absence of two-factor authentication, or accessing the work email and system via public WiFi such as a public WiFi, these problems are easily prevented. Get help from experts to ensure that you have clear guidelines for remote working and two-factor authentication. Ensure that employees read their emails carefully and stay away from dangerous links. Also, install password managers to increase the security of passwords.
In the case of an SME, be sure you have policies and procedures in the first place instead of developing them on the fly. There is a National Cyber Security Centre (NCSC) that offers assistance through its certification from the government Cyber Essentials designed to help businesses protect themselves against the most prevalent cyber-attacks. This also assures your customers that they have some level of protection.
Ensuring the security of the supply chain
However, even if you’ve invested enough and enshrined the security measures within your network, cyber-attacks from suppliers are a more significant threat to businesses. With an increase of fourfold supply chain security threats by 2024, it’s impossible to afford to risk security. Instead, employ an organization that manages risk for vendors or a professional to determine the riskiest suppliers share sensitive data, then analyze their security level and do the necessary steps to ensure that your information is secure. If you can ensure the security, integrity, and confidentiality of your data throughout your entire supplier network, your company’s likelihood of being targeted is much less.
Prepare yourself for the future.
As the risks of cyber security increase in frequency and intensity, and severity, all companies, no matter the size or industry, have to seek advice from experts and take a proactive approach to enhance security for cyber-attacks across their networks as well as those suppliers that can access their sensitive information. It’s a fact. It. Suppose you don’t act until you’ve been compromised. In that case, the business may be affected for days, perhaps even weeks causing disruption to your operations and bringing your company to a complete halt. In addition, there are adverse effects on your business’s reputation and financials. The damage can be unimaginable, but it’s not worth the risk.
