Threats like cyberattacks, data breaches, or malware can have a major impact on your business, draining valuable time and money as you try to recover. It’s essential to identify and monitor these risks so you can protect your business as much as possible. Here are three business continuity risks to keep on your radar.
Cyberattacks
The cost of cybercrime is staggering. By 2025, global cybercrime costs are expected to hit $10.5 trillion per year (compared to just $3 trillion in 2015). A cyberattack can hurt your business by disrupting operations, damaging your reputation, and stealing sensitive or crucial information.
Do your best to avoid these risks by incorporating cybersecurity into your business continuity planning. Store your data across multiple places in your network and keep all software and hardware up-to-date. You should also have a detailed disaster recovery plan that can be put into action should a cyberattack occur.
Data Breaches
Data breaches are also becoming more common and more serious. In fact, experts in the healthcare sector have said that 2023 may be the “most catastrophic year yet” for hospital data breaches.
Protect your company’s data by classifying sensitive assets and beefing up security; only verified users should be able to access internal data. Encrypt especially important data. And if any abnormal or suspicious activity is detected, the right people should be
immediately alerted.
Security Incidents
Data breaches aren’t the only security incidents that can affect your business. From malware attacks to hardware theft to unauthorized access, unfortunately, there are many types of security incidents that could undermine your operations.
Following cybersecurity best practices is the smartest way to protect yourself from attacks like these. You should:
- Require Multi Factor Authentication
- Educate Employees on Cybercrime
- Back up everything
- Use Anti-Virus Software
Finally, you should always be safe instead of sorry. If you think a link looks suspicious, do not click on it. It’s better to be cautious rather than open yourself up to a potential breach.
Conclusion
Cyberattacks, data breaches, and security incidents can have catastrophic effects on your business’ ability to function. Regular backups, proper encryption, and effective security tools are vital to keeping your business up and running but are difficult to implement if you don’t have the time and know-how.
Minimize risk and free up your time by becoming an Onward managed support client. We provide the tools and expertise to add protective layers to your IT, while also offering computer & server support, remote monitoring, technology planning, and more! Contact us today to learn about what advantages Onward can bring to your business.
