The success of a business is the result of a combination of factors, but which is the most valuable asset?
While each of the above has or represents monetary value and the full list is incredibly important to your operations, your information is your most valuable asset and has the greatest need to be safeguarded. Your information holds immense value, which is precisely why cybercriminals target an organization’s data to steal and profit from the sale of it.
Cybersecurity is more than a buzzword – it’s a lifeline all businesses need to understand and fully utilize. In the digital age, cybersecurity is a crucial part of your technology ecosystem to prevent cybercriminals from gaining unauthorized access to your network and your data.
Sometimes cyber criminals aim to gain undetected access to a network, steal data, and leave to sell the data on the dark web. Other times, the goal is to lock all authorized users out until a fee – a “ransom” – is paid to release control of the data.
Once the fee is paid, companies can access data again, but there are other considerations now. The data is now compromised, including possible financial account information, putting businesses and even consumers at risk of identity theft and more. The actual cost of ransomware varies since it’s very likely some situations go unreported and unpublished, but the need to protect data is absolute. The good news is that there are steps you can take to protect your data.
Your most valuable asset is your data, but your greatest weakness is your team. Operator error is a major risk for businesses – but it doesn’t have to be. Safeguarding your data requires businesses to take a few keys steps to start:
Educating your staff about cybersecurity risks and what to look for goes a long way toward safeguarding your data and your business. Focus on ongoing cybersecurity training for technology best practices, like using complex and hard-to-guess passwords to prevent unauthorized access to files and information, and recognizing email phishing attempts to gain access to passwords and accounts. Encourage your team to become your greatest cybersecurity advocates with education and training to turn a potential vulnerability into a strength.
Invest in advanced cybersecurity measurements and leverage state-of-the-art technology to safeguard your data, including requiring two-factor authentication for all users when choosing passwords. Monitor and log all network traffic to find and address security vulnerabilities immediately.
Have a Business Continuity Plan
Since your data is your greatest asset, make sure you have a back-up plan to keep it protected and ensure business continuity. This includes implementing data back-ups as just one part of a much larger business continuity plan and protects your business.
Boston businesses shouldn’t wait to reduce the risk of ransomware – protect your data and your business today.