7 Crucial Cybersecurity Solutions for a Small Business

Cybersecurity Solutions for Small Business

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In today’s insight, we will discuss the 7 crucial cybersecurity solutions that every small business needs. All businesses rely on IT infrastructure to operate on a daily basis. These IT assets are vulnerable to cyber-attacks. Small Businesses seem to be easy prey for ransomware gangs and according to Bitsight’s Threat Report:

  • 44% of all ransomware victim organizations were less than 100 employees
  • 82% of all ransomware attacks targeted organizations with less than 1,000 employees
  • Additionally, 34% of organizations with 21-100 employees experienced malware infections

As a small business owner, it is crucial to come up with reliable solutions and proactive strategies to deal with these cyber threats. Let’s jump right in!

1. Access Management

Access management involves identifying, tracking, controlling, and managing authorized users’ access to a specific system, application, network, or IT instance. You need to ensure that all the apps and systems you use as a business have a robust access management system to ensure only authorized users get access to them. 

2. Risk and Compliance Management

As a small business, you need to ensure that all your activities comply with the security and privacy requirements of the industry and countries you operate from. You should also have solutions that enable you to identify, classify, and address any cyber-related risks that your business might face in its operations. 

3. Vendor Management

Vendor Management involves the management and monitoring of any potential risks that could come from third-party vendors and suppliers of IT products, including hardware and software. So, you need to have systems for testing these products to ensure they meet the minimum-security standards before you add them to your IT infrastructure. 

4. Vulnerability Management

Vulnerability Management involves identifying, evaluating, fixing, and reporting any security vulnerabilities in your IT infrastructure. Any small business needs to have systems and tools to ensure all the vulnerabilities in the IT infrastructure are known and fixed as soon as possible.

5. Security Awareness Training

This training helps employees and any other users of your IT assets to know the role they play in helping the business deal with cyber threats. With this training, IT professionals pass over knowledge to all the relevant stakeholders about the common cyber threats, how to avoid them, and what they need to do if they happen to identify one. Gensys Technology offers Cybersecurity Awareness Training as a service to clients who seek to improve the security consciousness of their organization.

6. Policies and Procedures

Policies and Procedures involve setting standards for certain activities that are common in your day-to-day business operations. For instance, you may set a standard that requires all email attachments to be encrypted before sending them. These standards are a proactive solution for dealing with cyber threats that could potentially affect your business if they are not followed. 

7. Cyber Insurance

Cyber insurance is designed to cover your business from losses you incur as a result of cyberattacks. This type of insurance coverage is like a backup plan in case your business experiences a breach. The scope of the threats covered usually depends on the kind of business you are running and how much you are willing to pay for this service.

Final thoughts 

Implementing the cybersecurity solutions we have just shared will significantly enhance the security of your business. Yes, your expenses will increase if you implement all the above solutions. However, the rewards for beefing up your security outweigh this extra cost, making it a worthy investment in the long run. Contact us today for advice on how to implement any of these solutions to protect your organization.

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