4 Reasons Why a Company’s Cyber Measures Should Be Tested
Aside from seeing if the cybersecurity is actually functioning as intended, there are four other important things to check regarding such a system. Read on for more information.
1. Identifying Your Vulnerabilities
Even if your cybersecurity system is working, you have to know where you could still be hurt. Systems have unintentional “back doors,” shoddy coding, or poor encryption. Users could be using weak passwords. You might also have out-of-date software somewhere on the system, and that software might not have the same protections as all of the upgraded software you have. The cost of data breaches in 2023 was roughly $4.45 million for each breach. Being prepared is the way to go.
2. How You Compare
How do you stack up against the security of your competitors? If you’re equal or better than them, then you’re probably in a good place. If you’re not up-to-snuff, then hackers will see you as a choice target. Therefore, it’s incumbent upon you to research what the standards are and then secure the services of a cybersecurity professional who is well-versed in shoring up out-of-date or substandard cybersecurity systems. Remember, even if you upgrade your system, there might still be places within the system that aren’t as secure as other parts of the system. It pays to have everything checked.
3. Maximizing Confidence
Let’s say that you’re the only company producing widgets that experiences a data breach. All other widget-making companies will suddenly have an advantage over you because they’re still trusted whereas you no longer are. It’s irrelevant if their security systems are shoddy and ill-prepared. If they haven’t been breached, then they’re better than you in the eyes of customers, investors, and your competitors. You may not just lose the $4.45 million; you could lose a lot more if no one trusts you any longer. Keeping your cybersecurity robust will reinforce people’s confidence in both you and your company.
4. Qualifying for Cybersecurity Insurance
Remember, too, that despite your best efforts, hackers will always be ahead of the defenses against them. You will never keep everyone out. The idea is to keep out as many hackers as possible while making your company a difficult target. Just like a robber won’t approach a house with a visible security presence when one next door has an open window, hackers generally follow the path of least resistance. As well, if you have robust cybersecurity, you will qualify for cybersecurity insurance, which can protect you if something does go wrong.
You should have your cybersecurity system checked regularly. At a minimum, this should be once every six months. In certain industries, you might need to do it quarterly or even more often. In any event, think of it as the same thing as changing the oil in your car. If you drive 3,000 miles in six weeks, then you have to change your oil rather than waiting the additional six weeks until the three-month period is up. Just like with car oil, the more sensitive data you handle, the more often you need cybersecurity system checkups.
