IBM’s 2018 report revealed that the average cost of a cybersecurity breach for a firm in the United States is approximately $7.91 million. Further, the report indicates that the average cost of stolen confidential data records is approximately $148 million. These figures show that your company’s IT security is crucial and needs to be controlled better.
Regardless of the industry, they operate in, most businesses are continuously getting concerned about their IT security systems. Studies have shown that in 2018, U.S businesses encountered over 1,245 cybersecurity attacks that exposed 446 million data records. The risk of your company being breached always exists – on average, a hacker attempts to breach company systems every 39 seconds. That’s why most companies have worries about their IT security systems and how to control them better.
Here are ways you can enhance your company’s cybersecurity system.
1. Upgrade and Patch Your Company’s Systems
Patch management is one of the ways to minimize cybersecurity breaches in your company. Ensure your IT security systems are always using the latest version of the software. Starting with applications you use on smartphones, desktop computers to personal laptops, and even the OS used for each device. In the end, by upgrading and using patch management techniques, you will have better control of your company’s IT security systems.
2. Use Two-factor Authentication (2FA)
In this technique, system users are required to use two kinds of identification to gain access. For instance, they enter both passwords and system-generated PIN codes, lowering hackers’ chances of guessing user login information.
Additionally, the two-factor authentication uses one-time passwords and biometric authentication to improve your company’s IT security system. On one hand, one-time passwords are generated by the system and are only accepted for single use.
The password is sent to a user’s mobile device or email to access the system for a single session.
On the other hand, biometric authentication requires users to use unique physical features, including voice, face, and fingerprints, to gain access. Some devices have in-built biometric authentication capabilities that you can leverage to control your company’s IT security systems better.
3. Use a Virtual Private Network
A VPN enables you to establish a secure private network through which you and your employees can access files remotely. Furthermore, a VPN guarantees secure connections when users are using public Wi-Fi or employees work remotely. Any information that is accessed using a VPN is encrypted, and browsing on the internet remains anonymous. That is, a VPN helps conceal IP addresses, encrypts information being shared, and hides users’ location, minimizing cybersecurity breaches.
4. Introduce a Cybersecurity Training Program
In most cases, system end users are the weakest link that cyber attackers use to gain illegal access to company systems. Users can do things that make your company’s IT security systems vulnerable to attacks due to lack of training. Therefore, you should introduce a cybersecurity training program for users to learn how to enhance security and lower risks for breaches. Besides, it’s necessary to document your business’s IT security regulations, procedures, and best practices. In case of any updates to your company’s IT securities policies, ensure you train users about them. Eventually, having a cybersecurity training program for your employees can improve your company’s IT security.
5. Use Cloud-based Storage Solutions to Store Data Securely
Due to technological advancement, most companies have now shifted to cloud-based storage. Using such systems not only increases storage for your company but also has security benefits. When you assign internal workers the duty to install a firewall and keep OS updated, the likelihood of experiencing security breaches is high. For instance, on average, it takes internal teams 18 months to fix the vulnerability, leaving your company exposed to potential hackers.
However, when using cloud-based solutions, your team is relieved of the duty of managing IT security systems. Instead, your company’s security systems are managed by experts to whom you outsource the function. Ultimately, storing data on the cloud minimizes the chances of unauthorized access.
You can’t afford to take your company’s IT security lightly. Any small mistake can turn out to be very costly, both in terms of financial loss and company image. Therefore, you should devise ways to improve your company’s IT security. Some of these ways include upgrading and patching your security systems, using two-factor authentication, using VPNs, training users, and using cloud-based storage to store data securely. Overly, implementing these strategies can help you to control your company’s IT security better.