5 Cyber Security Tips for Business Owners in 2021

Cyber threats are a problem not only for large corporations but also for small and medium-sized businesses. Every year, about 20-30% of companies become victims of cyberattacks, and this does not depend on the field of activity and geolocation.

For this reason, experienced executives try to use protection against virtual fraudsters. In this article, we will share the best cyber security tips for business owners in 2021.  We will also tell you what data room services are and how they can be useful.

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Who Falls into the Risk Zone

First of all, we are talking about companies that operate on the Internet. These can be online stores or services with remote access. However, land-based companies that store their data on electronic media may also be at risk. Cybercriminals are interested not only in money but also in important data or IT equipment. If a hacker gains access to the corporate network, they will be able to use it to access:

• customer lists;
• bank details;
• pricing data;
• product design;
• company expansion plans;
• other production processes.

Every cyberattack can have a significant impact on your business if you do not store your data in a safe place, for example, in a virtual data room. More than 60% of enterprises and shops cease to exist in three-six months after another hacker attack. This is undoubtedly the worst ending for the company, but there may be other unpleasant consequences:

• financial losses from theft of banking information;
• temporary suspension of the company’s activities and, as a result, the loss of customers;
• restoration costs;
• damage to reputation.

It is especially dangerous if your organization is part of a chain of a network of companies — then a cyber attack will affect the entire system. However, no matter the size of your business, it is imperative to prevent such actions by fraudsters. Our cyber security tips, which are relevant for 2021, can help you with this.

Best Cyber ​​Defense Ways in 2021

Businesses often feel helpless in countering cyberattacks. And yet businessmen can take several measures to protect their companies. The most effective tip of data safety is the use of an online data room. We have also listed other best tips that will help you avoid the consequences of hacker attacks.

Employee Training

Often, the employees can make the business vulnerable to hacker attacks. Research shows that employees, who intentionally or unintentionally provide cybercriminals with access to company data, cause half of the data breaches. What should be done:

• conduct pieces of training on cybersecurity;
• teach how to deal with scammers;
• tell what is a virtual data room and how to use it.

Knowing the protocols of behavior in the event of a cyberattack, company employees will be able to at least minimize the possible consequences.

Timely Risk Assessment

Managers should regularly assess risks that could compromise the security of a company’s networks, systems, and information. Identifying and analyzing potential threats will help you develop an optimal plan to close security gaps. What should be done:

• examine where and how the data is stored and who has access to it;
• determine the risk levels of possible events;
• assess how the hacking attempt will potentially affect the company’s operations.

After completing the analysis and identifying threats, the information gained should be used to develop or improve a security strategy. These actions should be carried out time and time, and it is also recommended to use data room software.

Using Additional Software

Every company needs business software that can protect against viruses, spyware, and phishing. Such programs must be from a reliable legal source and must be licensed. The use of pirated copies can lead to a lot of unpleasant consequences.

Use HTTP Authentication

Having HTTP authentication helps add another layer of security that hackers must overcome if they want to attack a site. Also, do not forget about regular software updates if you do not use online data room software to store information.

Make Backups

The backup software automatically copies the files to the vault. In the event of a hacker attack, important data can be quickly recovered. Such precautions are possible with the help of virtual data rooms. Besides, it will help to resume the work of the resource unnoticed for users.

Features of Using Virtual Data Rooms

A virtual data room is a space for working with documents like Google Drive. Here you can upload important information and configure different levels of access to it. The security of the virtual room is ensured by the unique EveryTag technology, which allows you to identify the intruder in the event of a leak. The use of electronic data room is relevant in the following situations:

• mergers or acquisitions of companies;
• when conducting financial and legal due diligence in a safe and convenient format;
• during audits and preparation for the IPO;
• to provide secure access for lawyers, regulators, and other interested parties;
• While working with personal information of media persons;
• to protect developments and intellectual property.

Thanks to the EveryTag protection algorithm, each document contains information about the employee to whom it was issued. Having found such a document in the public domain, the security officer can determine the culprit of the leak. When making compare virtual data rooms, one should take into account not only the cost and availability of a free period but also the possibilities of the service. Some of them are only suitable for small businesses, while even large corporations can use others.

Bottom line

Special software helps to reduce the number of violations of security policies. However, despite the presence of a wide range of functionalities, the software is just one of the elements of an integrated cybersecurity building system.

For example, best data rooms can protect a fairly large library of digital content or serve as storage for backups. Ultimately, the best information security strategies rely on both people and technology.