Most modern companies will use various forms of technology to power their operations. Different software and systems can help businesses to remain both innovative and competitive, which can lead to a bigger revenue and profit margin.
However, each tech solution will feature various risks that could damage a company’s finances and reputation. If your business depends on many technologies each day, find out more about the biggest threats to your operations.
Cyber Security Vulnerabilities
According to the World Economic Forum (WEF), cyberattacks are one of the top ten biggest threats to global organizations. A security breach could lead to a hacker gaining access to your company’s sensitive data, financial information, and intellectual property.
There are various cybersecurity attacks to be aware of, such as:
- Spear phishing
- Man in the Middle (MitM) attacks
- Distributed Denial of Service (DDoS) attacks
To protect your organization from legal action, a hefty fine, and reputational damage, you should embark on a risk assessment to identify and act on your vulnerabilities. You can receive a free risk assessment from 24×7 IT Solutions to discover if your IT systems and data are secure. Plus, you could identify if your current backup could help your business to bounce back from an attack and if your employees could spot a malicious phishing email in their inbox.
Poor Hardware Disposal
Depending on the size of your organization, you may depend on many technologies to store your trade secrets, customer data, employee information, and more. Despite relying on various technologies to house the data, many entrepreneurs fail to erase the business-critical information on computers, tablets, and laptops.
While you might have deleted unwanted files from a device, it will continue to live in the hard drive. It can then be accessed by a hacker if they get their hands on the hardware. To avoid a data leak, you must erase all data to protect your confidential information.
An Unexpected Outage
Internet issues, natural disasters, software downtimes, cyberattacks, and system corruption could cause an unexpected outage. The issue could lead to your operations grinding to a halt, which could result in data loss, lost revenue, and customer frustration.
To protect your business from the consequences of a sudden outage, you’d be wise to create a detailed disaster recovery plan. It will ensure your critical data will be secure should the worst happen.
To create a disaster recovery plan, you could:
- Identify sensitive data located on all IT systems and ensure they are automatically backed-up to a server.
- Create an inventory of hardware, software, and data.
- Back up all crucial data from a server to another storage device located away from your premises.
- Schedule drills to test your disaster recovery plan.
Technology can strengthen your operations, improve productivity, and increase productivity each year. However, it is not without its weaknesses, which you must identify to protect your organization. So, eliminate cybersecurity vulnerabilities, erase all data from unwanted computer systems, and create a disaster recovery plan to bounce back from an unexpected outage.