Why is cyber security important for businesses?

With businesses around the world becoming ever more reliant on technology, it is crucial that they employ stringent cyber security strategies. As technology advances, so too do the activities of cybercriminals as they become more creative and brazen in their attempts to infiltrate networks and systems.

While routine solutions like anti-virus and firewall protection were traditionally sufficient in times gone by, this is no longer the case as cybercriminals have become smarter to evade such elementary cyber protection. With a solid cyber security plan in place, businesses will not be left vulnerable to hackers who are always looking for weaknesses to exploit.

Why should businesses upgrade their cyber security?

As mentioned above, businesses can no longer rely on traditional methods of protecting their systems and networks as cybercrime has evolved together with newer and more convenient technology. These days, businesses need a multi-layered level of protection – irrespective of the industry that your business is in.

Since the pandemic and a surge of remote working across the globe, there has been a dramatic increase in businesses storing data on cloud storage platforms that often come with poor configuration and promises easy access to cyber criminals. The reliance on such cloud solutions together with the adoption of the Internet of Things, Artificial Intelligence, and smartphones, have made businesses – unknowingly – more vulnerable to cyber-attacks.

While there is a misconception that heavily-regulated industries – such as finance or healthcare – are most vulnerable to being hacked, the truth is that no industry is safe.

Cybercriminals will exploit any given opportunity to make a quick buck and certainly don’t discriminate when looking to infiltrate systems and networks. Essentially, even small businesses can suffer from irrecoverable damages through unwanted cyber attacks if they neglect to upgrade their cyber security.

A stringent cyber security strategy comprises various layers of protection to safeguard your organisation from your data being accessed and/or destroyed, your business or staff being extorted, or unimaginable disruption to your operational model.

Cyber strategies that businesses must incorporate in the new digital age

The core elements of a modern cyber security strategy include:

• Infrastructure security
• Network security
• Application security
• Information security
• Cloud security
• Employee security training and awareness
• Disaster recovery or business continuity

In addition to this all-encompassing cyber strategy, organisations need to take a few additional steps for the ultimate defence of their business.

Employee Education – businesses should engage with a team of cyber security professionals who will provide detailed cyber security training to prevent or reduce the risk. With such cyber security training, staff will be well equipped to secure sensitive information while having a better understanding of cyber security protocols, the risks associated with their everyday work, and typical cyber attacks that they may encounter.

Privileged Access Management – businesses must implement privileged access across the organisation so that users have different access to information, depending on their roles. This is done by setting permissions for users, processes, accounts, and systems across all IT activities in the organisation. By doing this, the company reduces the overall risk of suffering damages of epic proportions.

Monitoring, Detection and Response – businesses must always monitor their networks and systems 24 hours a day to detect suspicious activity that could result in a cyber attack.
Without effective cyber monitoring, there could be a delay in detection that could give cybercriminals a window of opportunity to infiltrate with devastating consequences.

Manage Third-Party Risk – businesses that use the services of third-party vendors need to exercise greater caution as outside parties will have access to internal systems – posing a potential threat to sensitive information. Businesses must perform due diligence on all third-party vendors and have solid cyber security policies in place to safeguard themselves, their client's and employees’ information, and business interests.

How can tmc3 help secure your business?

At tmc3, we allow businesses to operate safely in a world filled with insecurity. We’ve partnered with organisations of all sizes across the public and private sectors to ensure that their cyber security strategies are tailor-made to resist the most brutal cyber attacks in circulation.

Our expert cyber security team has over 60 years of combined experience and specialises in the most stringent cyber security protocols across various industries.

Together with our suite of innovative cyber security products and solutions, our specialist team will help you to understand the complexity of regulations and frameworks, improve your cyber maturity levels, and conduct intensive security testing that will help you to analyse your systems and applications – discovering loopholes and patching them before any
cyberattack occurs.

Get in touch with our expert team and learn how tmc3 can make a difference to your business with superior protection from cyber-attacks and malicious online threats.