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    Key Principles you Need to Know to Secure your Company’s Data

    There is a very common misconception that cybersecurity is important mainly for large organizations. Small and medium-sized enterprises (SMEs) should be cautious and prepared for the average cost of soc 2 audits in the market as well, lest they fall into the trap of thinking they are too small to be spotted by hackers. 

    According to Hiscox’s Cyber Readiness Report 2019 on defending against cyberattacks, the number of SMEs reporting at least one attack has steadily increased year on year, reaching 47% for companies with fewer than 50 employees and 63% for companies with between 50 and 250 employees. The UnderDefense team will explain how to avoid this. 

    We also recommend that you read the statistics for the previous year here. However, let’s get back to the cyber protection provided through SOC audits.

    Why do small businesses need cyber security?

    Small businesses often have very limited resources. This usually means devoting most of their resources and time to day-to-day operations, while protecting against cyberattacks is not a priority. As a result, cyber security in a small company depends more on the actions of individual rank-and-file employees than properly trained specialists.

     

    There is also a lack of regular training on cybersecurity and threats. The result of neglect in this area is also outdated and un-updated software, which significantly reduces data security.

     This can be avoided if small businesses prioritize cybersecurity in the same way they prioritize the physical security of their office space. To that end, identifying and regularly updating best practices as part of a small business cyber security plan is key.

     Improving security doesn’t have to mean huge expenditures, but it does require a focus on cyber security issues to ensure that a company doesn’t become the next victim of a cyber attack. With cyber security best practices, small and medium-sized businesses can improve both their protection and their organizational culture regarding the importance and implementation of effective security measures.

     What are the best cyber security practices for SMEs?

    Create procedures and documentation

    If you want cyber security policies to become part of your company’s culture, they should be thoroughly documented, with timelines and checklists. This way, new processes can be implemented and employees will be aware of their responsibilities. Here we have included a sample cyber security policy template you can use.

     Review access permissions

    A simple but effective security measure is to limit access permissions to shared files and critical applications. This minimizes the possibility of access to sensitive data. Access should only be granted to employees who really need it for their work, and when it is no longer needed, it should be revoked. This means that no one should have general administrator privileges just based on their position.

     Processes should also be established to revoke access immediately when an employee leaves or when a contract with a subcontractor or other entity ends.

    Data backup points

    1. The “use a strong password” mantra is now as common as “remember to back up your data.” This is especially important for small businesses that want to avoid ransomware attacks, when a hacker steals and encrypts data, threatening to destroy it if they don’t get paid to return it. 
    2. Without a guarantee that the data will be returned in usable condition, small businesses face a dilemma in which they may have to pay both a ransom and pay for downtime they cannot afford. This situation can be avoided by regularly creating comprehensive backups so that data can be recovered, minimizing the potential financial loss and loss of business credibility, as well as the stress experienced by employees during a ransomware attack.
    3. Cloud services are also a popular option for backup. Not only does the cloud allow you to access your documents from anywhere, but the security offered by this service is usually much more advanced, making it an affordable way to significantly improve data security.

     Backing up company data is something every computer user should do.

    • Backup of company data should be a cyclical and pre-scheduled activity in the company.

     Remote working and its associated risks

    The addition of network entry points increases the potential risk of data and network security breaches, as cybercriminals simply have the ability to use these points as network access points. For this reason, the trend toward a shift from traditional office work to more flexible work can be considered a cause for concern – although it should be noted that this trend has been in place for many years and is growing.

     The 2018 Avast Business Mobile Workforce Report on Remote Work found that employees believe working from home has increased their productivity and reduced their stress, so much so that 52% of small business employees said they would rather be paid less than work only in the office.

     The problem has become more acute with the sudden necessity and marked increase in remote work brought about by COVID-19. Nowadays, a significant proportion of office workers work from home, and their personal devices and WiFi are an integral part of the modern work environment, allowing employees to perform tasks in a mode other than stationary work at the employer’s premises.

     So how do you strike a balance between the increased risk and the widespread use of personal devices for work and remote work? First of all, you need to provide clear instructions on how to use personal devices. Otherwise, you will often have to find out the average cost of a soc 2 audit

     “Bring Your Own Device” (BYOD) policies should be included in data security best practices, requiring all employees to maintain a high level of security on every device that accesses company documents and networks – from installing security software to installing patches and updates as soon as they are available.

     Building a comprehensive cybersecurity framework

    Once these cybersecurity best practices are implemented in your business, the work is really just beginning. The personal involvement of every employee in a company’s cybersecurity efforts is essential, as their daily threat awareness increases and security best practices become part of the company’s organizational culture, which is critical to making the entire enterprise safer.

    Conclusion

    Cyberattacks are constantly evolving, which means that security solutions must keep up with them to remain effective. Knowing about the latest attacks and security measures is crucial to understanding the severity of the situation and the safety of your team, but business owners can rarely become cybersecurity experts themselves with little time to spare. This makes choosing the right software even more important.

     

    It is worth finding out from the UnderDefense team how much the cost of soc 2 audit for their case is and planning a large-scale improvement of the security system of the entire company. In our opinion, this is the most optimistic solution, given the increasingly sophisticated hacking methods.

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