Find out here how cybersecurity investments may shield your business
Digital information thefts have become the most commonly reported cybercrimes. The average cost of a data breach continues to increase. This means that every organization that uses the internet needs to create a robust cybersecurity infrastructure to mitigate the risk of security breaches. Continue reading to find out the best cybersecurity investments for businesses.
Invest In Cyber Insurance
- Cyber insurance protects businesses from the financial outcomes of a cyber-attack. Business interruption, legal expenses, reputational damage, and data recovery costs can be covered by cyber insurance. Cyber insurance is common in companies that have become a growing target of cybercriminals including large-scale industries and small businesses.
In many organizations, cyber insurance has become a compliance requirement. When a data breach occurs, organizations are required to inform their customers and partners, which can be costly. Cyber insurance helps businesses by covering these expenses.
Employee Training Program
- Most employees are unaware of the latest cyber security threats and often end up being the weakest link of an organization’s defense system. By investing in cybersecurity training for employees, organizations can reduce the risk of security breaches and financial losses. Train your employees regularly on cybersecurity risks and best practices and empower them to protect their devices and networks from cyber-attacks.
Ranging from in-person seminars to online courses, different types of available training programs can be used for employee training. To encourage employees, some organizations offer financial incentives to employees who complete training programs. Investment in employee training is especially crucial in remote working environments. It helps equip employees to keep their organization’s data safe while working on unsecured, home networks. In addition, employees should be trained to avoid using public networks such as those at co-working spaces, hotels, cafes, etc.
Identity And Access Management (IAM)
- IAM refers to a process designed to manage user identities and permissions. Identity and access management solutions help organizations regulate user access to data and resources as well as their usage. Features such as Single Sign-On (SSO) are included in identity and access management. By using SSO users can access multiple applications with one set of credentials and two-factor authentication.
This extra layer of security plays a significant role in protecting business networks from unauthorized access and data breaches. Identity and access management solutions can be deployed on-premises or in the cloud. IAM can also be combined with firewalls, intrusion detection systems, and other security solutions.
Security Information And Event Management
- Security information and event management (SIEM) solutions gather and analyze data from various security solutions including web filters, firewalls, etc. The collected data is then used for generating reports that help organizations identify security risks and patch the loopholes in their network. SIEM acts like a centralized platform that allows organizations to keep tabs on different security events taking place across their network.
Endpoint Security Solutions
- Endpoints are one of the common entry points for cybercriminals. Devices that connect to a network such as laptops, tablets, and smartphones are referred to as endpoints. Investment in endpoint security adds an extra layer of protection which is crucial for protecting sensitive data.
Some of the commonly used endpoint security solutions are antivirus software, encryption, malware detection, etc. Several different types of endpoint security solutions are available. Choose a solution that is right for your environment. In addition, it is essential to test a solution before employing it.
If you are interested in protecting your business or company from many cyber security threats, you can call Micro Strategies at their toll-free number, 888-467-6588. We are a company that specializes in business, IT, and security solutions. We are located in New Jersey, Pennsylvania, New England, and New York. Our team will assess your business and recommend a fantastic plan that best meets your business needs.