Evolving Business Dynamics and the Dire Need for Advanced Cybersecurity
Often small to mid-sized businesses don’t believe they will be affected by cybercriminals. Most give it thought after they have been attacked, and the measures taken are too little too late. When businesses sit idle and do nothing about data theft or leakages, more significant problems, tend to arise. Most small business owners think that cybercriminals primarily target corporations and big IT companies. But the truth is, small businesses are more vulnerable to cybercrimes as they have weaker systems and networks and have little or no IT support securing their businesses from cybercriminals. With this in mind, small business owners need to change their perception and need to focus on cybersecurity.
From individual-level scammers to organized crime syndicates, the cyber-world is full of crimes, and small businesses have every reason to feel threatened. They are the prime target for every hacker and scammer since they have weak systems, networks, and processes. According to a study, three out of every four data breaches cost companies billions of dollars each year. Also, a majority of cybercrimes go undetected until it costs millions in reparation.
How to Prevent Data Leakages and Cater to Cybersecurity Threats?
Small businesses can fall prey to cybercriminals because they do little to protect themselves from potential or highly synchronized threats. A staggering 9% percent increase in the cybercrime activity last year bears witness to the fact that cybercrime is a menace that will continue to pose threats to small businesses year over year. Although every New Year promises faster internet and increased technology, those advances mean an increase in cybersecurity threats. As technology evolves to combat the threats, businesses must upgrade their systems and networks. They also need to improve their IT infrastructure to detect potential threats better and prevent data theft or leakages.
Technology and advanced tools and techniques have engulfed the world around us. It should come as no surprise that technology has changed the dynamic of the online world. Most small businesses devote fewer resources to cybersecurity, making them open to attacks. A lack of an IT department, weak systems and networks, unsecured internet connections, and outdated software are also contributing to small businesses being vulnerable to cybercrime.
Often small companies mismanage their business and share vital pieces of information on their company’s website or the cloud. This information includes vendor details, banking credentials, bookkeeping, and accounting records. Generally, cybercriminals steal critical business data for ransom, but sometimes they sell that information to competitors causing you to lose your competitive advantage. This makes it clear that cybersecurity is essential to defend against these types of attacks.
What to Do When You Fail to Match the Pace of The Growing Cybersecurity Needs of The Economy?
A small business does not have to be vulnerable to cybercriminals. The threats have to be considered from the beginning and cybersecurity measures in place. Hiring an IT professional along with upgrading systems, networks, and software are the best ways to safeguard against cybercrime. A business owner should not wait until an attack has occurred to implement safety measures that will ensure your company will succeed.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.