Why is IT security important?

Companies use IT to manage employee data, company infrastructure, customer details, payment information and more. Some of the reasons that companies need to invest in IT security are:

Protecting company data

IT security practices keep your company’s sensitive data safe. Payment details, social security numbers, account details and other data are targets for hackers. If someone gains access to private company data, they can disrupt operations and cause you to lose clients. You also need to make sure that you have access to company data and don’t have any IT security issues preventing you from accomplishing goals.

Developing trust with clients and partners

Employees, customers and business partners place their trust in your company when they share private details like identification information and banking details. Having a strong cybersecurity system in place helps cultivate trust with anyone that interacts with your business. A security breach where customer data becomes vulnerable could make them feel unsafe doing business with your company.

Integrating with new technology

In an increasingly tech-heavy world, businesses often need to employ new technology to adapt to consumer demand. Without awareness of IT and a strong cybersecurity plan, it can be more difficult to safely migrate data to new tech systems.

Limiting recovery costs

If your business becomes victim to a cyberattack, you could incur hefty recovery costs. Manually recovering lost data is labor and time-intensive, often requiring expensive industry expertise. You may also have to pay fines and fees because of your liability for the customer data. Data breaches can also impact public perception of your company and drive stock prices down.

Enabling remote work

Strong internet and computer security systems make it easier for people to safely access company data, whether they are in the office or working remotely. For businesses that have remote workers or people who travel on-the-job, IT security is an essential part of making sure everyone can access the resources they need without making their data vulnerable to hackers.

Related: Bring Your Own Device (BYOD) Policies: Pros and Cons

Cybersecurity attacks to look out for

Hackers use a variety of cyberattack techniques to access company data, which they then take advantage of for financial gain or other nefarious purposes. Phishing attacks, or cyber scams are designed to trick users into revealing sensitive information. Cyber criminals are becoming more sophisticated and relentless, hitting larger and more complex systems often with costly and disruptive results. An increasing number of cyber criminals are attacking organizations by planting malware on unsuspecting victims’ computers and networks through realistic-looking emails, attachments and websites.

Being aware and proactive about these tricks, traps and pitfalls can help your company better detect, prevent and respond to attacks. Being aware of the common types of cybersecurity attacks can help you prepare appropriate preventative measures for your company:

Malware

Malware is software that is designed to exploit system vulnerabilities to change program code, access information or spy on users. Employees may accidentally download malware by clicking on a link or visiting an unsafe website. If it is not removed, malware can track keystrokes to learn passwords, prevent other software from functioning, and make computer systems inaccessible until the owner pays a ransom.

Phishing

Phishing is a hacking technique that involves manipulating users into downloading malware or giving away sensitive information. Hackers may send emails disguised as official company memos that are actually a ruse to get information from employees. Texts, social media messages and other communications are also vulnerable to phishing attacks.

DDoS

Distributed Denial of Service (DDoS) attacks attempt to crash a server or system. They submit a large volume of requests that overwhelm the IT system and cause it to either slow down or stop entirely. DDoS is often a precursor to other attacks, attempting to gain access to private details while IT is busy attempting to restore the network.

Password attacks

Hackers can also use software to guess passwords and manually gain access to company accounts. They learn about patterns in how people create passwords and use them to get the same access to data as an employee or customer. Complex passwords and regular password updates can make it harder for hackers to use this method to access your accounts.

Cryptojacking

Cryptojacking is when a hacker uses someone else’s computers to mine for cryptocurrency. Cryptocurrency mining requires a large amount of power from a computer, so hackers actually use cryptojacking to avoid high electricity bills and use someone else’s CPU. If you notice your computers always running hot, it is possible that passive software is using your system to mine bitcoin or another cryptocurrency.

10 IT security tips 

Because there are so many ways people use technology to access data, IT security has many different facets. Improve cybersecurity at your business with these tips:

1. Password protect your Wi-Fi

Make sure your Wi-Fi is secure by encrypting the network and making it password-protected. Hackers tend to look for easy targets, and having a strong Wi-Fi password is a great deterrent to let them know that your business is prepared for attacks.

2. Install and update security software

Invest in quality security software for all of your company’s computers so that you can easily run scans to detect malware and identify potential threats. Turn on your computer’s firewall or use third-party software for a more powerful firewall.

3. Ensure security programs and operating systems are up to date

Your best investment is a strong defense. New phishing schemes emerge from every corner of the internet, and these attackers can range in size from one individual acting alone to state-sponsored groups. Installing regular software updates can make it harder for cybercriminals to exploit existing vulnerabilities. Applications that monitor suspicious network traffic, block infected files and scan emails for known malware strains are readily available and can be scaled up and down depending on an organization’s specific needs. Larger companies may go as far as simulating a cyber attack to help harden existing systems, networks and applications and to identify overdue security patches.

4. Limit access to company data

Create user accounts with different access levels so that your employees only have access to the information they need to do their job. Limiting company account access can prevent hackers from getting too much of your company’s information through hacking a single account.

5. Take password protection seriously.

Employees and vendors with access to your network should be required to use strong and unique passwords. Consider activating a multifactor authentication (MFA) system for additional security.

6. Regularly back up data and digital records.

Backing up critical data can be a difference maker in quickly recovering from a phishing attack. Ensure sensitive files are protected or encrypted, as well as segmented from the rest of the network so they can’t be easily targeted.

7. Develop policies for mobile devices

Even if your company mainly uses desktop computers, prepare policies for how employees access information on their mobile devices. Phones and tablets may not have the same security features as computers, making them a vulnerable access point.

8. Isolate payment processing

Use a separate system to process customer and employee financial details so that if a hacker gains access to one part of your system, they don’t automatically connect with payment information. Keeping especially sensitive details separate is good business practice and limits the impact of hacking attempts.

9. Host employee training

Train your employees on best practices for making and updating passwords, accessing company sites and looking for suspicious emails. Document your protocols for a security breach and make sure that everyone on your team knows how to approach possible IT security issues. Malware can be hidden, not just in applications or installation programs, but in what appear to be legitimate links and file attachments. Frequent cybersecurity training can help employees more easily identify and report these malicious attempts and know what to do in the event they receive them. Vendors and professional service providers with access to your networks should also be trained on best practices to further help mitigate risk and exposure.

10. Plan ahead for a cyber attack

Unfortunately, even with all of these protective measures, any organization may be subject to an attack. Companies that deal with particularly sensitive personally identifiable information (PII) , like health or financial details, should be especially diligent. Develop and maintain internal and external response plans, and brief teams so they’re familiar and ready to act if and when needed. Having clear and defined roles, responsibilities and protocols in place will help your company respond quicker and more effectively to a potential threat and may also help minimize damage. 

Roles to hire for IT security

There are several people who are instrumental in protecting a company’s IT security. Some of the positions you could hire to keep your systems secure include:

• IT director: IT directors create high-level strategic policies related to cybersecurity. They maintain awareness of new developments in malware and develop systems to respond to new threats.
• IT manager: IT managers implement security measures across a team and make sure everyone understands the necessary steps to secure a system. They can also delegate tasks to IT project managers who focus on a specific type of cybersecurity such as data integrity or network protection.
• IT specialist: IT specialists can consult on a particular aspect of cybersecurity and identify possible vulnerabilities.
  
• IT technician: IT technicians help with the actual installation of security software and removal of malware.