“He who owns the information, he owns the world,” — Nathan Mayer Rothschild, a genius businessman of the 18th century. As businesses are moving in a digital direction, the famous quote begs a modern take: “he who owns the data, he owns the world.”
With the ever-growing number of data loss and business compromise statistics, companies can’t really own their data unless it’s secure. In most cases, data loss results in lost businesses.
94% of companies facing significant data loss don’t survive, where 43% never get to reopen and 51% close within two years, according to the University of Texas.
Developing a cybersecurity strategy from scratch is indeed a complex process, but there are three elements that companies simply can’t afford to overlook: data backup, network security, and email encryption. In this article, we’re going to briefly describe how each of the cybersecurity elements is important for your business.
#1. Data Backup.
When it comes to essential data, be it corporate or personal, one should always have a plan B in the event of data loss.
Backup is a set of pictures of networks, servers, or essential files captured in their original state and stored in a separate secure location to revive original data in the event of loss or corruption.
Data loss may come in many forms:
- software or hard drive failure
- ransomware attacks
- device theft
- accidental deletion of data
If any of the following occurs, anything from customer databases and registry files to financial documentation and operating systems is at risk.
Dta backup-related statistics:
- 96% of all business workstations are not being backed up (Contingency Planning & Strategic Research)
- 58% of businesses lack the budget needed to recover from the attack. (Black Hat)
- Human error accounts for 95% of all data breaches. (IBM)
Solution: any piece of information that’s considered irreplaceable for a business must be regularly and automatically backed up. While there are many ways to lose data, Zver offers a comprehensive data backup strategy that can save companies essential files, thousands of dollars, and years of business continuity.
#2. Network Security.
A company’s network is a digital environment where all electronic communications and data exchange processes take place. It encompasses all computers, Wi-Fi routers, virtual machines, and servers that are connected to the Internet and have access to business data.
Every company, no matter the size, must operate with a solid network security solution to maintain business integrity and confidentiality, as well as provide reliable access to the network to defend the organization from cyber threats.
The network architecture is a complex structure with many variables, where each one may pose as a vulnerability if not protected and managed right. If a company runs on outdated software and unprotected devices, it is exposed to danger.
By the time most companies realize they’ve faced a data breach, they have actually been experiencing the attack for weeks, months, or even years.
It’s a common practice for attackers to break into a company’s network by attacking employees’ devices. Skipped software updates are another security hole that malicious agents actively exploit to steal and encrypt data.
Network security statistics:
- On average, only 5% of companies’ folders are properly protected. (Varonis)
- In 2019, 68% of organizations were compromised through endpoint attacks. (Ponemon Institute)
- For large enterprises, the average cost of downtime amounts to more than $11,600 per minute. (Datto)
Solution: Network security systems have many moving parts that companies may overlook due to human error or the lack of strategy. At Zver, we provide preventive monitoring services for our customers’ networks to mitigate any gaps or vulnerabilities, decrease downtime, and stop threats before they become accidents.
#3. Email Security.
As the most popular business communication tool, email has become the number-one target for cybercriminals. Today, companies experience thousands of phishing attacks: emails with malicious links, business email compromise sent from hacked company email addresses, CEO frauds. For that reason alone, all emails containing sensitive information must be encrypted.
Email security statistics:
- 95% of all attacks targeting enterprise networks are caused by successful spear phishing. (Network World)
- Only 3% of the users report phishing emails to the management. (Keepnet Labs)
- 91% of cyber attacks start with spear-phishing email (Trend Micro)
Solution: By using email encryption, companies can protect confidential or sensitive information from being exposed to anyone other than the intended recipient. Not only does it help businesses protect data from getting compromised but it also keeps the organization’s reputation safe. At Zver, we offer email security solutions with a good business reputation in mind.
Bottom Line
Data breaches happen all the time. Cyber attackers, in turn, get more and more creative and sophisticated to develop new ways to intrude into someone’s network or inbox and exploit essential data. And the more risks there are, the more cautious businesses must be.
Although establishing a solid cybersecurity strategy takes a lot of business resources, it’s something that companies can’t afford to overlook. Today, you’ve learned what you can do to protect your business from intruders. In case you don’t know where to start, we’re here to help!
