Techblog
The Importance of IT Security for SMEs
As IT forms a bigger part of businesses, IT security is becoming a critical investment to protect data and IT systems from malicious attacks. Find out how SMEs can benefit from IT security, how to go about it and more.
IT is now commonplace and a mandatory requirement for SMEs to run smoothly and efficiently, regardless of the industry or sector they are in. With such widespread use of and dependence on IT, it is essential that SMEs consider the importance of IT security and carefully look into how to protect themselves from cyber-attacks or vulnerabilities.
What does IT security encompass?
IT security is the protection of both hardware and software from threats such as destruction due to unauthorised access from outsiders (e.g. terrorists or cyber-attacks), hardware/software malfunction or in rare cases, natural disasters. IT security encompasses the security of the physical hardware as well as operating systems, stored data, sensitive information, IT processes integrated within the business process and so on.
Why is IT security crucial?
As an increasing amount of business-sensitive information is stored within the IT system, compromised data could mean a loss of business for a company. It's costly to fix changes due to hacks, or re-build systems due to destruction.
A malicious attack or unplanned disaster has the potential to shut down business operations, especially if these operations are heavily dependent on the IT infrastructure within the business. Internal and external business communications may also be affected if their web-based tools or social-media applications are affected. As a result of IT security breaches, SMEs could face huge losses within a very short period of time.
In addition, if customers are directly affected (e.g. if deliverables are delayed or more crucially, if their data is stolen), SMEs can expect long-term consequences as a result of a loss of trust from customers and the public.
What are common sources of security lapses in SMEs?
Many SMEs are turning to web-based productivity tools and social apps to enhance efficiency. In addition, bring-your-own-device (BYOD) is becoming increasingly common as SMEs allow or encourage their employees to work using their own devices.
These all allow for loopholes into an SME's IT framework and act as threats. For instance, in a recent study conducted by SolarWinds in September, 150 IT decision-makers at Singapore SMEs across a range of industries reported the following as the most common user behaviours on mobile devices that threaten IT security:
- Loss of handsets
- Unsecured sharing of company files/data
- Use of unsecured WiFi
- Creating passwords that are too easy to crack
- Not using a VPN and visiting phishing or malware sites
How do I ensure IT security within my business?
To start with, there are some simple, yet effective measures, to consider, beginning with employee behaviour and savvy regarding IT security.
As a huge point of vulnerability lies with employees and how they handle data, SMEs can look into educating employees on how simple measures to take when handling sensitive data. By emphasising that their own personal data (stored on their devices) is equally vulnerable to attack, employers can incentivise employees to pay closer attention to their behaviour.
It also pays to ensure that employees are equipped with the technical know-how and expertise to really understand your business’ own servers and infrastructure - in doing so, you are one step closer to knowing your own vulnerabilities and better equipped to secure your own systems.
SMEs should also look at both software and hardware security as part of an overarching security system, as both are equally important. For example, physical security solutions (e.g. security cameras and physical servers) should also be taken into consideration and worked into a main security system, alongside cloud security or social app and web-related vulnerabilities.
It is also important to hire professional consultants who have specialised knowledge in IT security. These professionals will come in to do a review of your company's IT infrastructure and offer advice and solutions to plug the loopholes or potential security threats. They can also help to set up an action plan for handling any potential IT security threats.
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