by Felicien | Jul 18, 2019 | Education
3 Ways to Improve Your Cyber Security Plan
Cyber attacks cost organizations millions of dollars per incident and often results in system downtime. The average cost of system downtime per cyber attack is as much as $1.25 million, according to Cybersecurity Ventures. System downtime can be costly due to lost sales, frustrated clients, and unfulfilled requests that lead to a significant backlog. Some clients also have long memories that lead to negative word of mouth and a future drop in sales. Despite the real threat of cyber attacks, Cybersecurity Ventures reports that only 28% of firms involved in installing network-dependent technology regard security strategy as highly important. Although completely preventing cyber attacks is often regarded as unrealistic, assessing threats, establishing key performance indicators, and mitigating human factors can help technology leaders improve their security strategies.
Threat Assessment
A proper threat assessment does not involve a single activity or happen once. Threat assessment is an ongoing strategic activity involving research, analysis, simulations, and follow-up. Starting with a series of questions is critical during the start of the research phase, as it helps security teams and technology leaders develop a profile of potential threats to the organization. Some of the questions to ask during this phase include:
Who is most likely to launch an attack against the organization and its resources?
Why is the individual or group of individuals motivated to launch an attack?
What data or information is valuable to the potential attacker(s)?
How are the potential attacker(s) likely to try to gain unauthorized access to the organization’s systems and data?
How has the potential attacker(s) breached other organizations?
Once security teams and leaders determine the answers to these questions, an analysis of the firm’s IT systems and infrastructure can occur. Finding vulnerabilities and ways to detect intrusions and other types of cyberattacks is as much about thinking like the potential attacker(s) as it is about discovering ways to stay a few steps ahead. This means setting up preventative measures and also conducting exercises to try to get around those preventative measures. By trying to accomplish a mock cyberattack, internal security teams can better identify previously unseen vulnerabilities in the organization’s infrastructure, processes, and security strategy. Follow-up activities involve analyzing system logs to determine if past indications of common or known attack methods exist.
Key Performance Indicators
Assessing vulnerabilities and developing a profile of high probability threats is important, but even the most sound threat assessment will be ineffective if performance measurements are not established. A sound cybersecurity plan contains ways to measure whether the organization’s strategy is working and identify areas for continued improvement. Common key performance indicators include:
Average detection time
Average time to mitigate detected threats
Number of identified vulnerabilities
Ability to control and prevent threats
Ability to meet and comply with the plan’s objectives
Whether key objectives or milestones were accomplished
Human Factors
Securing an organization’s systems and IT infrastructure against external threats is only part of a thorough cybersecurity strategy. Planning for the internal threats related to human error and inappropriate system access is even more crucial. Employees and vendors that have access to an organization’s systems should be subjected to security policies, including controlled access, account-level privileges, several layers of authentication, and awareness of social engineering and phishing techniques.
Education that includes security policies and training related to scenarios depicting potential threats is the cornerstone of a sound mitigation plan. Employees who understand what phishing attempts look like will be less likely to click on suspicious email links and less likely to download files that contain malware. Good communication, interactive training sessions, tests that simulate phishing and social engineering attempts, raising awareness about best practices, and implementing metrics can go a long way towards mitigating vulnerabilities related to human error. Implementing access policies that only give employees the system access they need to effectively perform their jobs is a secondary factor involved in mitigating internal threats.
The possibility of an organization becoming a target of a cyber attack is high if not a guarantee. Technology leaders and IT security teams cannot afford to not take cybersecurity strategy seriously. Conducting constant threat assessments, developing and refining key performance indicators, and finding effective ways to stress the importance of security protocols to employees and vendors are three foundations of a sound cybersecurity plan. Preventing cyber attacks from becoming serious incidents is important to an organization’s sustainability but learning how to make improvements based on existing vulnerabilities is even more critical to continued success.
by Felicien | Jul 18, 2019 | Education
Small Business Owner? How to Choose Tech Support
It is an unfortunate truth that many small businesses assume they don’t need to outsource their IT needs to a professional IT company.
This couldn’t be further from the truth. In fact, small businesses desperately need IT support — often, because they won’t have the resources to staff an in-house IT department.
Fortunately, IT companies generally offer support contracts that can work in a small business’s favor. Your company will be able to choose the level of support you specifically need. If you only require IT services occasionally, for troubleshooting network problems or setting up new software, for example, you can choose a low-level contract that won’t cost much. If you’re looking for more comprehensive coverage, you can always scale up.
Here are some other important tips to consider when choosing tech support for your small business.
Consider what type of fee structure you prefer.
IT companies generally offer two different types of fee structures:
A flat fee due monthly, biannually, or annually
A pay-as-you-go structure
Every business is different, but it is possible (and maybe even likely) that your small business won’t benefit from a flat fee payment structure.
This is because you may not actually end up needing the extent of services that a flat fee structure is best for. Larger businesses, certainly, will need to contact and get help from their IT company regularly every week or month. In fact, these companies often have in-house IT. But If your small business only uses IT minimally (for example, just for your website or for inventory ordering, etc.), you won’t use enough of your support package, and paying the flat-rate fee will get expensive.
On the other hand, we must note that niche industries may require a lot of IT tech support — even if your business is small. If this is the case for you, a flat rate monthly or biannual fee could be beneficial.
Look for IT companies who’ve been in the industry a while.
Brand-new IT companies often nab customers by claiming to know the latest trends in IT and how to best handle the most recent wave of cyberattacks. While these are both areas to be concerned about, as a local business or one that’s just starting out, these benefits (if they are actually true in the first place) may not be particularly beneficial to you.
As a small business, you basically want reliable IT support for basic security monitoring, troubleshooting, and possible software or hardware recommendations and/or setups. For this reason, it’s important to search for an IT company that is local and has been in the industry for a long period of time. This means they have the experience, which is exactly what you want. Ask the IT companies you are considering to speak with clients they’ve worked with for a long time so that you can get a handle on the kind of support you’ll be receiving from them.
Find an IT company that can help you grow.
Most small businesses are looking for ways to grow. If this is the case for your business, you should start looking for an IT company who can scale up your services when you eventually need them.
We’ve already stated the importance of having several payment options when it comes to your service level needs. This also comes in handy as you look toward the future of your business. While now, you may prefer a pay-as-you-go structure, you should work with an IT company who offers bigger, broader, flat-rate packages too. The extent of their services should also run the gamut.
With this in mind, also remember that an enormous IT company who won’t be able to provide personalized support to your niche industry isn’t generally recommended. The potential for scalability down the line is key here.
While you may assume that larger businesses are the ones who need all the major tech support, small businesses require IT expertise as well. It’s true that your IT needs may not currently match that of a mid- or large-size enterprise, but investing in the hire of an IT company will surely boost your business’s success as you grow and expand.
Use the simple tips above to locate the optimal IT company for your small business. We’re positive you’ll see the benefits of a good hire right away.
by Felicien | Jul 18, 2019 | Education
What Are the Top Tips for Choosing the Best IT Company?
Website outages, cybersecurity attacks, and any number of other IT incidents can cost your company hundreds or even thousands of dollars — every minute. For this reason alone, you need an outsourced IT company who is competent and highly qualified to handle your IT needs.
But how do you choose the best IT company?
Naturally, the IT needs of each individual business will vary. A medical practice will need IT assistance that specializes in privacy as well as cybersecurity because they’ll have a tremendous amount of sensitive data in their systems. On the other hand, your industry may require less focus on privacy and more focus on the particular type of software that you use.
Finding an IT company who specializes in your industry is the first step to locating optimal IT support.
Here are some other tips to keep in mind when choosing an IT support company for your business.
1. Look for experience.
As is always the case when you contract out services, you need to look for experience. It may be tempting to work with a brand-new, up and coming IT company in your area, but something as important as IT support warrants hiring a company who’s been in the business for at least a few years.
To establish that the IT companies you are considering have enough experience to get the job done right, ask to speak with their current or past clients. Also, ask for the list of credentials that their support staff possesses. These are the individuals you’ll be working with regularly, and you want to look for certifications and schooling in IT-related fields.
Lastly, make sure the experience that these companies have is related to your industry, specifically. We’ve already touched on this a bit, but it’s important to reiterate that it’s better to find an IT company who specializes in your industry than to find night one who claims they can “do it all.” Many IT companies specialize in healthcare IT, transport IT, or other specific industries, which means they know and understand these industries inside and out. That wants you want.
2. Choose a local company.
Some IT companies will claim they can take on your business from across the state or the nation. While this is possible, it’s unlikely you’ll get the level of quality service you actually deserve. It’s much better to go with a local IT company who you can work with directly.
In many situations, you’ll actually need IT support staff from your MSP (managed service provider) to come to your business for installations, troubleshooting, or network setups. This shouldn’t have to be a huge production. Having a local IT company available for quick service calls is a huge advantage.
3. Look for forward-thinking companies.
Not only do you want your IT company to focus on maintaining your current network and system structure, but you also want them to propel your business forward. Whether fast or slow, growing should be a primary concern for any business.
Some IT companies are more capable at scaling their services than others. Essentially, you want to find a company who will propel your business forward with their own IT ideas. They also need to have the employee-power and IT resources to scale your business up with ease and efficiency. As you expand, you don’t want to have to switch IT companies.
4. Make sure you can choose your level of service.
Again, needs vary where IT is concerned. You certainly do not want to pay for services you don’t need and won’t use. For this reason, look for an IT company who offers a range of service levels.
Most IT companies offer at least two or three levels of service. For example, they may offer an entry-level fee for simply monitoring your systems and alerting you as soon as possible if there’s a breach. If you require network setups, software installations, and other management services, you‘ll naturally want a higher level of service. Having options is the main concern here.
No matter what IT company you choose, it’s important to take your time, and do your research. Your IT company will be one of your business’s most important assets. Hire well, and you’ll reap the benefits of easier daily operations, higher returns on investment, and ultimately, more business opportunities.
by Felicien | Jul 17, 2019 | Education
How Technology Helps Today’s CFO Improve Operations
The business world is increasingly tech-savvy, and organizations are looking for CFOs who are comfortable with the language and strategies of digital technology. The office of the CFO has long been a center of excellence for driving efficiencies and technology provides a wealth of new opportunities for forward-thinking CFOs to improve operations and maximize their assets. Finding a CFO who is comfortable with and understands the balance of technology in the workplace can be a significant boon for organizations, especially those who rely on their operational prowess as a means to outpace the competition. From growing efficiencies on the front line to improving back-office processes, see how technology is quickly becoming a game-changer for enterprising CFOs.
The Evolution of the CFO
For years, CFOs have been a major part of creating seamless operations for the business, including finding the right solutions for finance and accounting as well as processes such as travel and payroll. These disparate systems continue to mature, making it crucial that CFOs understand how they fit together seamlessly and provide value back to the organization. It’s not unusual for today’s CFOs to be more deeply involved in other decision-making, including the selection of project management software, customer relationship management tools, marketing automation and more. With their eye for back-office processes, CFOs are in a unique position to add their voice to the conversation around holistic technology for the business. This evolving role requires CFOs to expand their knowledge of systems and data architecture while still maintaining a tight hold on operational excellence throughout the organization.
Driving Digital Business Transformation
Staying up-to-date on the latest advances can also require the CFO to act as a digital transformation strategist for the business, a role that isn’t always comfortable for this top executive. Watching customer trends, social media insight and a variety of different datasets is a requirement as CFOs attempt to predict the future of the organization and drive innovation. Emerging technology requires near-constant focus, something that can be extremely demanding when CFOs are attempting to split their time and attention between multiple priorities. Technology, marketing and finance are the three pillars where the majority of data is present in the organization, and these leaders need to collaborate closely to ensure that data is mobilized for use in future applications. Having a deep understanding of the way various systems are built and maintained will allow CFOs to stitch together solutions that will benefit the organization in the future.
Moving Faster, Cheaper and Smarter
Finding the right technology for the job can require an investment in time as CFOs seek to gain an understanding of the various options on the market. Cloud-based technology can easily form the basis of the new operations stack, providing CFOs with a noticeably better budgeting process that doesn’t rely exclusively on capital expenses but spreads costs operationally, instead. Automation is one of the ways that finance executives are finding to drive optimization in the business, allowing entire teams to move on new developments more rapidly and with authority. Project management, reporting and marketing solutions increasingly rely on automation and artificial intelligence to provide greater insight and a deeper understanding of customer needs and sentiment.
As the role of the CFO evolves, technology will continue to play a key role for the business’s top finance executive. From shifting strategies to understanding how to implement and measure the value of various strategies, CFOs are gaining experience and insight that can be leveraged to make good technology decisions in the future.
by Felicien | Jul 16, 2019 | Education
From wirelessly connected fax machines to network-integrated treatment equipment, the modern-day healthcare facility has a full list of things that must be a part of their network. As convenient as the IoT may be for modern practices, every device adds a potential point of security vulnerability. Each new addition offers incredible convenience and functionality to a healthcare operation, and many of these connected devices have become quite standard in modern practices.
Something as simple as an insecure email generates a new onslaught of security concern, but when you look at the thousands of things that must maintain a network connection, those concerns seem somehow minimal by comparison. Managing privacy and utmost security with every new device has become a challenge simply because these devices have all-out exploded in the medical arena. Here are a few tips to remember where securing IoT in healthcare is concerned.
Supreme reliability generates points of security weakness all on its own.
There is a huge disadvantage with some smart medical devices; these units are created to be far more reliable than something man-operated. These devices are often used for treating severe ailments and are often deemed as “high criticality devices.” These devices, by all rights, maybe keeping a patient alive during treatment. As great as this is for patients, it also means the manufacturers of such connected units are extremely hesitant to make changes to operational functions for fear of compromising reliability.
It is not uncommon for some devices to go for many years without updates, rarely get a new patch for security reasons, and end up being highly vulnerable points of access on an organization’s network. Non-updated legacy software may not be designed to thwart incoming attacks.
You have to have a map of IoT architecture to fight security threats properly.
IoT is not the same as something like a network of computers. These units rely on a network differently, and they all usually have different usage patterns. On the contrary, a system of computers would likely all act and connect in the same way, maybe even at the same times. These variances make securing these devices a little more complicated.
As the operator of a medical organization, it will be critical that you have a detailed map of your IoT devices. This map should show how and when devices are used, where they are located, and what measures have been taken to keep them secure. This kind of mapping process affords an awareness when you need to understand the risks that are apparent and how they can be amended or tended to.
The Future of IoT in Healthcare
If there is one thing that is expected to stay consistent in healthcare, it is how IoT will continue to grow and flourish as a necessary component. Therefore, even if you are steadily ignoring some of the risks now with the few smart devices you have, that will definitely not be wise as time goes by. It is best to fully understand the network of devices you have, fully assess and address all security concerns, and continue to work with an IT security expert to make new amendments with every new device added to your operation.
