Internet security comes in all shapes and sizes, which can cater for all kinds of needs. On our devices at home we want to keep our passwords and personal details safe from hackers. So why would you not take the same precautions for your company?

So what are the implications if I don’t keep up with my device security?

Financial

There is a myth that you only lose money from a cyber attack if the hacker gains access to your account information. This is entirely fictional. Although it can be a big part of the financial implication, there are actually other ways that attacks can lose you money.

Did you know?

Approximately £1 Trillion is lost to cyber crime each year through ransomware and phishing. On average, it costs companies £337,000 for an attack.

Company Downtime

Downtime is when devices either stop working, or have to be turned off so that data or the device can be recovered. It’s a big deal, especially for prolonged periods of time, when you aren’t able to make your daily profit. Depending on the kind of attack, downtime can range from hours to days which could be disastrous for your business.

Data loss

The cost of data loss can also be significant, and not just to your wallet. You can be fined for a breach, which could see you owe as much as 4% of your annual turn over. This also highlights the importance for proper security as if you are able to prove you have done all you can to keep client data safe, sanctions like fines can be dramatically reduced.

It’s not just the financial cost to your company that can have a direct impact on your business. The cost on your company reputation can be the biggest loss. As it’s required by GDPR that any data breach must be reported to all parties (regardless of whose data was actually stolen) you clients will find out what’s happened. This can inspire a lack of confidence and could see not only new business turning away but also current clients looking elsewhere.

So what can you do to best protect yourself?

Firstly, prevention. That’s the best defence against most threats. Training your employees (and yourself) to recognise dodgy looking emails and links as well as how to recognise safe from unsafe, can be the difference between a cyber attack happening to you or it being just a threat.

Don’t stop at just one session either, in the technology world, things are always advancing. Keep regular sessions of cyber security training, to keep this information fresh in everyone’s mind.

Use the security tools available to you. This can be anything from a secure password manager, to 2 step verification. Adding layers of protection like this can make it really difficult for anyone to hack in.

Make sure you are creating backups of your data, or even better, get an IT company that can create the backups and store them securely for you. This should be done daily, and kept on top of.

Have a plan of action if something does go wrong. Make sure your employees are aware of the process and have anyone report anything suspicious. No one likes to be ‘that guy’ but catching a problem early can make all the difference.

Get help! Don’t sit there frantically googling how to stop a cyber attack. Call in the IT heavies as we are well versed in the world of IT security. Don’t let it take up your precious time when your IT provider can sort it for you.

If you are looking to improve your IT security and think that we can help, get in touch here to find out how we can assist you.