Every business, whether big or small, is vulnerable to cyberattacks like malware, data breaches, and phishing. These attacks can affect the organization’s day-to-day operations and cause huge financial losses. That’s why it is important to make cybersecurity a top priority. Businesses must identify the vulnerabilities in their systems and take steps to protect themselves. Learning about a few essentials of cybersecurity for businesses can go a long way in preventing cyberattacks.
Importance of cybersecurity for businesses
Cyberattacks of any type can harm a business and have devastating effects. Sometimes, the attack is so severe that the business is forced to shut down within a few months. That’s why businesses must implement cybersecurity measures. Besides preventing a business from shutting down, cybersecurity provides several other benefits.
- Prevents financial loss that occurs when a business’s banking information is stolen
- Ensures there are no disruptions in business operations
- Saves the organization from the high costs involved in getting the network up and running again
- Safeguards the company’s image and reputation, which can take a hit due to a cyberattack
Cybersecurity tips for business
Businesses can take several measures to stay protected against cyber threats.
Whitelist applications
Organizations use different software to speed up day-to-day business operations and save time. The company’s IT team generally installs the software on employees’ computers after running security checks. But sometimes, certain employees may install applications themselves without the knowledge of the IT team. In such cases, the entire business network is put at risk of a cyberattack.
One way to prevent employees from installing unknown software on their computers is to perform application whitelisting. This process ensures only select software and applications can run on the computers linked to the office network. All other applications are prevented from being installed and run. A business can use different tools to whitelist applications and prevent the installation of unregulated software.
Implement multi-factor authentication
One of the easiest ways to improve cybersecurity is to ensure every system, device, and network is password-protected. But sometimes, just setting a password isn’t enough. For strong cybersecurity, a business must go beyond passwords and implement multi-factor authentication. MFA or multi-factor authentication involves using elements such as PINs, passphrases, software certificates, physical tokens, and biometric data like fingerprint scans in addition to a password.
Restrict administrative privileges
Besides implementing multi-factor authentication, businesses must restrict administrative privileges. Simply put, only select individuals must be allowed to make changes to the organization’s systems or network, modify settings, and manage user accounts. Restricting administrative privileges while implementing multi-factor authentication is an excellent way to boost cybersecurity.
Update apps and operating systems regularly
Software developers release security patches from time to time to fix vulnerabilities in applications. Businesses must look out for these patches and install them without delay. Like applications, operating systems also receive patch updates to remove vulnerabilities in computers. Installing security patches is easy; even those with basic knowledge of computers and applications can perform this task with the help of their organization’s IT team.
Disable macros that do not seem trustworthy
Many commonly used apps, including word processors, use macros—scripts that contain several sets of instructions to automate repetitive tasks. Macros can be quite useful, especially for tasks like data entry. But, some macros may have malicious code that can cause cybersecurity issues. So, businesses must ensure that only vetted and verified macros can run on the computers and other devices connected to the organization’s network. Untrusted macros must be disabled by visiting the software or app’s settings menu. Disabling macros often works hand in hand with patch management to avoid cyberattacks.
Implement user application hardening
Some businesses develop their own proprietary applications for use within the organization. When developing an application, businesses must go through a process called user application hardening. This process involves several steps that make the application more secure and less vulnerable to a cyberattack. For instance, the application’s code must be made more difficult so that unauthorized individuals cannot understand and manipulate it. Another step is to implement an anti-tamper mechanism that prevents someone from modifying the app without permission.
Use advanced and updated firewalls
Advanced and updated firewalls, such as next-generation firewalls (NGFW), are designed to detect and block sophisticated cyberattacks. These firewalls can enforce highly secure policies at different levels, such as the protocol, port, and application levels. Most NGFW firewalls include features like packet filtering, network address translation, URL blocking, virtual private networks (VPNs), Quality of Service (QoS) functionality, SSL and SSH inspection, deep-packet inspection, reputation-based malware detection, and application awareness.
Enforce backup and recovery practices
Businesses must make it a point to back up critical data across the organization daily. Doing so helps prevent data from being lost if the network is hit by malware. The backed-up data must be disconnected from the company’s general network and tested regularly to ensure it is clean and accessible whenever required.