...and how you can avoid their costly mistakes
1. Only Large Businesses are at Security Risk
While it is true that larger businesses are targeted frequently by hackers, every company needs to secure both itself and client information properly. While larger businesses certainly have more secure information at risk of exposure, they also invest heavily in protecting that information to avoid breaches of data. The assumption that smaller businesses are not on the radar for an attack has often proven to be a costly mistake - and one that not a lot of upcoming businesses can afford to make.
Your proprietary and customer information is of the utmost importance. That’s why it’s important to hire an IT team to ensure that you are not at risk with any server or computer system that handles this delicate flow of information. You are protecting more than information when you take security seriously; you are protecting your company’s reputation.
2. Antivirus and adware are all I need for security
Cybersecurity is a constantly evolving field, and it can be difficult to stay on top of the latest trends. Cybercriminals are always coming up with new techniques for hackers to use in order to trap their prey- so you need more than just an antivirus program that runs or updates automatically.
Like your company, your security system is unique. It requires specific attention. That’s why it is crucial to hire an IT team to assess your setup and provide recommendations for additional security options which would benefit your systems and increase your productivity. Simply slapping antivirus on a problem may work for some, but certainly not for all companies. As a company continues to grow, so should their security and strategy. Employing an IT team is essential to the heart of that strategy.
3. Updates aren’t always necessary, they’re just a way for the security software company to stay relevant.
It’s easy to ignore the little pop-up window that slides into the corner of your screen asking you to give 10 minutes to install a security update. While they can look and feel like advertisements from a security company just wanting you to have their latest software, it actually can be a very costly mistake to ignore those reminders.
Security software companies hire many people to find and patch inconsistencies or holes in their security service. It’s imperative for them to understand what threats are existing in their field and find ways that their software is combating or needs to address those threats. Often, it can be bug fixes that seem small but are important for the overall security of their offering. Continuing to use your systems with faulty software could open your systems up for attack or compromise if not updated properly.
Always consult your IT team for questions regarding updates; but if you have been given direction to update, it’s wise not to delay.
4. I can save money on security by minimizing my approach. Breaches can’t be that costly.
There may be other areas of your business where you can economize decisions to cut costs, but research has proven that when it comes to security, taking shortcuts can, in fact, be very costly. IBM’s annual cost of data report for 2021 (https://www.ibm.com/security/data-breach) indicated that the average cost for a security breach was $4.24 million. Security compromises also rose 10% from 2020 to 2021.
Even if your company is on the lower end of the average with a security breach, it always costs less to secure your system properly than to have to do damage control later. Even if your clients forgive you for the breach, your budget probably won’t.
5. The IT Team alone is responsible for all security.
Hiring and having an IT team that will keep you up to date is certainly important for protection, but it’s important to also recognize that security is a continual practice on the part of every manager and employee. IT teams give all members the tools to work with, and then it’s up to everyone at the business to implement them. Another misconception is that all breaches in security are only external. Believe it or not, many security compromises can come from inside your company, whether its protocols not being followed, passwords being shared or simple mismanagement of sensitive information. It is vital to not only have a strong security presence set up for success, but to manage and protect that information with every decision and action.