Can cyber crimes encourage businesses to transform? Cyber security best practices
Today, almost all businesses are riding on the wave of digitisation. This is especially true after the onset of the Covid-19 pandemic, which took the world by storm and forced everyone to get confined to their homes and resort to digital solutions.
The pandemic further propelled the pace of the ongoing Fourth Industrial Revolution and has brought an element of technology into all the facets of a business. Today, many businesses, especially new-age startups and unicorns, maintain a strong digital presence with the help of a website and a mobile application. Many legendary businesses have adopted this new presence mechanism to be omnipresent for their customers.
Besides affecting fundamental areas like business presence, technology is engraved in almost all business processes, be it production, supply chain management, customer outreach, maintenance of business records and customer information, or any other workflow.
There are many benefits this technological shift has brought for businesses, such as cost-effectiveness, convenience, and speed. However, we cannot escape the fact that technology has its perils. It has the potential of exposing a business to possible cyber crimes such as ransomware attacks, data theft, cyber fraud, etc.
So, what is the road ahead? Can cyber crimes encourage businesses to transform? Yes, cyber crimes are pushing businesses to change how they work or adopt technology!
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How Are Businesses Transforming To Combat Cyber Crimes?
“Failing to plan is planning to fail” this famous quote is taken quite seriously by businesses these days who try to keep themselves ready proactively with robust cyber security practices to combat unexpected cyber attacks. Following are some key practices that businesses adopt to keep them safeguarded against such cyber risks -
Training Employees Against Potential Cyber Attacks
We can’t keep something secure until and unless we know what we are protecting it against. And thus, many businesses nowadays are training their employees to build awareness among them about the potential cyber-attacks that the business can encounter.
Many organizations include such training sessions in their employee onboarding programmes to impart this knowledge. Businesses also keep scheduling similar webinars or interactive online courses taught by data security experts to keep their workforce informed about how they can identify such threats and what they should do in case they come across one on any given day.
Application of Strict Cyber Security Policies
Besides scaling up the information quotient of their workforce on cyber crimes, proactive business leaders plan and implement strict cyber security policies across all levels in their organisation. Some of the popular cyber security policies include the usage of strong passwords to access office systems along with periodic password updates, availability of updated and virus-protected software, multi-factor authentication for access to company resources, especially data, and use of secured Wi-Fi Connections with only company-approved VPNs.
Adoption of Emerging Technologies
Today, even businesses that are not primarily technology-driven prefer to hire a cyber security expert who can prepare and keep the business safeguarded against possible cyber crimes using advanced technologies like Machine Learning and Artificial Intelligence.
These two technologies help organisations revolutionise their approach to cyber security by keeping them ready against potential cyber risks. For example, cyber experts used AI and ML to manufacture dummy cyber-attacks against the organisation's IT infrastructure based on common patterns picked by attackers. This not only helps the company’s cyber security team understand the current security status but also helps customise the security approaches per the business's dynamic needs.
Besides AI and ML, companies are adopting cloud technologies to keep their data safe and away from the reach of attackers.
Technology is the backbone of the ongoing Industrial Revolution, and cyber security measures are its wings to take that flight to glory. We need to accept that today cybercrime has become an industry of its own, and it is here to stay as long as technology. The only way businesses can deal with these threats is by being prepared against them to knock them off before they do that to the businesses.
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