The Importance of Cybersecurity to Your Business

In August 2013, tech giant Yahoo – amid a media buyout by Verizon – was breached by a team of hackers. More than 3 billion accounts were exposed and sensitive data leaked. The actual figures of the damage remain unknown. That deal, with Verizon, eventually went through but due to the PR scandal – and admitted “security Issues” – at a much lower price. Yahoo’s investment went belly up. Their stock price tanked and billions of users lost faith in the company’s features. That’s just one of the many, many case studies that really sink in the importance of SOC as a service — the benefits of having a Security Operations Center as a service. 

What is Cybersecurity?

Cybersecurity – also known as information technology security or computer security – is a service. It aims to safeguard systems, through the application of tech, policies, controls, and guidelines, against unauthorized exploitation. It basically protects your platform against any sort of cyber attack. And by the platform we mean your whole business IT — this includes your networks, your programs, your smartphones, your devices, anything you might use to access sensitive information.

Why is this important?

Because cyberattacks are on the rise. Today the cost of doing business online comes with an added caveat, you need to invest in protection. According to the FBI, the cost of cybercrime in 2019 was close to 3.5 billion dollars in the US alone. Some companies due to several malware attacks have lost up to $11.7 million between the years 2016-2017, and what’s worse, since then that figure has risen by up to 23%. 

Why is it so costly?

An attack not only hurts your operation but it hurts your prestige. Today customers are extremely aware of the amount of data they give a company in good faith. Your clientele trust you to secure their private information, when that trust is broken they feel betrayed. That betrayal will end up costing you faithful consumers, which – like a domino effect – will end up savaging every aspect of your business. It will translate to shareholders being the stock price dip, to unwanted PR, to higher costs in cybersecurity measures. 

What is a SOC team?

What is a security operations center? A Security Operations Center, also known as SOC, is a service that’s offered in the form of a monthly or yearly subscription. It is in essence a centralized team or organization that employs experts, processes, and cutting-edge technology to continually monitor and safeguard your business against cyberattacks. They not only actively protect you but proactively make it harder for cybercriminals to attack with deterrent measures. They detect, analyze, and respond rapidly to any incident — over time, due to their methods, making it too much of a risk for someone to attack your platform. 

Why Your Business is not secure

Why is your business in dire need of a SOC as a service subscription? Because, in a nutshell, you have a cellphone. Today, your platform can be accessed through multiple devices. For a second think about how many devices you own that have a clear funnel into your enterprise, to the nuts and bolts of it. Your cellphone, your tablets, your computers, your smartwatches — and those entry points are increasing. 

Now, multiply that by how many employees and customers you have. How many people are also accessing your infrastructure? Each one of these entry points is in fact an attack point. Over 90% of all cyberattacks are a result of human failure. Your employees, even yourself, are the ones exposing your business to these attacks.

To form an analogy, you might have one heck of a security system installed in your house, but for it to work, you have to turn it on before you leave. In most cases, your staff not only forgets to switch the system on, or update it, they quite literally leave the doors wide open. 

How to improve your cybersecurity measures

Security Operations Center 101. There are a couple of things and workarounds you can personally employ in order to have more fortified and strong security. Small but nonetheless incredibly powerful actions that go a long way. Still, it’s important to have a SOC team handy, and an active managed SIEM service protocol in place. 

Keep your updates up-to-date

There’s a reason why the likes of Apple, Google, and all those tech device companies constantly launch updates. It’s not just about redesigning the platform with new icons and better action flow but about delivering more robust protection. These tech giants are at the forefront of cybersecurity, in many cases investing billions in keeping their customers satisfied and their data safe. 

It’s important to update your systems regularly whenever a new security measure is announced. 

Train your staff

Here are the most common passwords: 12345678, password, picture 1, and a person’s birthday. Most common recovery terms when you need to get your password back: “name of your pet.”

Your staff is your biggest inflection point. The reality is that having a good cybersecurity policy depends a lot on them and their willingness to hustle a bit for it. It’s not simple and, in many cases, it’s a bore that requires a bit of willpower — a bit of work on their part. 

You have to train your employees on how to avoid Phishing scams, on how to access the network, on how to protect their devices against intrusions. 

For example, did you know that 46% of all cyberattacks occurred due to an employee accessing an unsecured WiFi connection? Your cellphone’s wifi receiver is always on unless you switch it off. This means it’s always pinging new routers. All it takes is for one of them to be opened, and operated by a cybercriminal, for a massive breach to occur.  

SOC is the most reliable method of ensuring your cybersecurity

A study perfumed in 2018 divulged the following harrowing habit — The first thing most people did on a cruise ship, whenever they touched an exotic port, is check their email. How did they do this? By accessing the first open WiFi connection they had. That’s right, off the boat in Jamaica, and everyone is hooking up the Margaritaville server to check their messages. That’s just one of the nasty habits you employees have. 

This is one of the reasons, among so many, why it’s important to have a Security Operation Centers — it’s the only real way of ensuring your cybersecurity and giving you a strong foundation against attacks.

Adam Hansen

Adam is a part time journalist, entrepreneur, investor and father.