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In part two of our cybersecurity and digital transformation series we detailed the most common forms of cyberattacks. In this blog, we will discuss the biggest cybersecurity challenges facing businesses.
As digital transformation introduces new, and ever evolving technology to small business IT infrastructure, it is inevitable that an organization’s potential attack surface grows, introducing more cybersecurity challenges.
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As they try to navigate a wide range of potential threats, small businesses can struggle to distribute the right resources to ensure they stay safe, meaning they are vulnerable to various cybersecurity challenges such as:
One major cybersecurity challenge that small businesses face is the secure back-up and recovery of data. Companies must have adequate systems in place to ensure that their data is securely backed up and recoverable in the event of damage or corruption.
Data-driven companies, in particular, must protect their information from sophisticated ransomware attacks. As small businesses increasingly include multi-cloud and on-premise storage of data in their IT infrastructures, cyber resilience is essential to ensure business continuity in the event of a data loss.
The vulnerability of cybersecurity breach above and below a company’s operating system will inevitably increase as the business grows. Threats can present themselves in various forms with the intention of accessing, changing, destroying, or deleting information without authorized access.
The challenge arises for businesses to install the right systems that can promptly identify these threats and adequately defend their IT infrastructure. According to IBM, in 2022 it took an average of 277 days or 9 months to identify and contain a breach. The longer a breach lasts, the greater the strain on a business’ resources.
Supply chains are a multi-party ecosystem. Businesses rely on advanced technology to support connectivity and sophisticated logistics networks. However, this technology is also vulnerable to attacks, threatening the integrity of supply chain systems. It is vital to maintain the security of the supply chain eco-systems to avoid operational disruptions, lost revenue, jeopardized data, reduced productivity and potential brand and reputation damage.
Technology supply chains can also be infiltrated with counterfeit devices that have been tampered with. IT teams work hard to secure their infrastructure, but this is a futile activity if a third party does not maintain their defence along the supply chain. Businesses must ensure devices and their components are safe to deploy using secure verification.
With cyber-attacks posing a threat at any time of day, businesses must remain vigilant around the clock. However, companies often face the challenge of not having the necessary resources in house to physically monitor their networks continuously.
As threats continue to increase in frequency and complexity, efficient threat detection systems are essential in identifying and preventing attacks before any damage can occur. This can mean having to invest in outsourced services to ensure networks are monitored 24/7.
Small businesses face numerous cybersecurity challenges in the ever-changing landscape of digital transformation. To ensure their safety, companies must prioritize cyber resilience and invest in efficient threat detection systems. By doing so, they can protect their data, maintain supply chain integrity, and prevent cyber-attacks from disrupting their operations. In the fourth and final blog in this series we will lay out the steps you can take to improve your security measures to keep your infrastructure safe.
Part four will conclude this blog series by detailing the steps needed to implement practices that best address your cybersecurity challenges.
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