All posts by SystemsNet

Why Cybersecurity Insurance Matters

Cybersecurity Insurance
Cybersecurity, Security, Technology, , , , ,

As businesses move forward into a digital environment, cybersecurity insurance becomes even more crucial as online threats grow more advanced. Before, hackers only targeted large, high-revenue corporations since they had the money and the valuable information. But statistics show that over 40% of recent cyberattacks target small businesses. But what’s even more alarming is that only 14% of these small businesses are prepared for such an attack.

Cybersecurity Insurance is a Wise and Necessary Investment

Organizations are already taking more stringent measures to protect their businesses against online threats. Despite these efforts, malware and ransomware can still make their way into your system, and data breaches can still happen. To protect your business from the many ramifications of these attacks, you must invest in a good cybersecurity insurance plan.

While cybersecurity insurance cannot prevent or undo cybercrime, there are many ways that it can help your business recover in case an online attack takes place.

Reduce Financial Setbacks

Dealing with the consequences of a cyberattack can be expensive. Depending on the severity of the attack, it can set your business back by millions of dollars! You will pay for legal services, IT support, damage control, and more. A comprehensive plan can cover all these expenses and much more.

Cover Downtime Losses

Getting your business back on its feet can take a long time, again depending on the gravity of the situation. During rebuilding or while operations are on hold, insurance can tide you over until your business is fully recovered.

Fill the Gap Liability Insurance

When purchasing a general liability insurance plan, many business owners assume that this covers cyberattacks, which is typically not the case. Standard policies might offer coverage to some extent, but it is rarely enough. A separate cybersecurity insurance policy will give you the widest possible coverage to protect your business.

Recovery Assistance

Many cybersecurity insurance plans today offer so much more than just financial help. Many providers offer a complete recovery package that includes legal services, PR damage control, and IT forensics. You can get all these services from separate providers, but why stress yourself when you can get them all in one place?

Competitive Rates for Robust Security

Insurance carriers usually offer very competitive rates to clients with a robust cybersecurity system in place. This is to encourage companies to prioritize cybersecurity and implement better strategies. If you wish to avail discounted rates, it would be a good idea to level up your protection as early as now.

Best Practices for Improving Cybersecurity Insurance

There are many ways to boost cybersecurity in the workplace, as many of us know by now. For starters, you must train your employees regularly, as lack of awareness still ranks at the top of how hackers break into systems. You must also secure your networks, constantly update your anti-malware tools, and implement multi-factor authentication.

Bring Your Own Device Policy

Another excellent way to improve your company’s cybersecurity is to implement a sound Bring Your Own Device or BYOD policy in the workplace. The policy should clearly define the responsibilities of the company and the employee when using their personally owned devices to access company data and other uses of the device within the workplace.

To guarantee that you include all the vital elements in your company’s BYOD policy, you can use our BYOD Policy template, which you can download by clicking right here. You can customize it any way you need to make it align with your organization’s operations and goals.

Final Thoughts on Cybersecurity Insurance

A business needs to do everything necessary to boost cybersecurity. But no matter how strong your defenses might be, one must never be complacent. Investing in a good cybersecurity insurance plan is one of the best things you can do to protect your business. Call us now so we can help you with any questions you may have about cybersecurity insurance.

10 Reasons Why Businesses Need Password Management

Need Password Management
Data Backup, Security, Technology, , , , ,

Password security is one of the most basic yet valuable aspects of protecting your business. Your company’s security relies heavily on the quality of your passwords and how you manage them. Therefore, people must choose strong, unique passwords and regularly change them to minimize the risk of hacking. That is why businesses need to choose a great Password Management tool.

Password Management is risky and tedious with the increasing number of accounts we have. Businesses need a strong password solution for data security. If you don’t have one, here are 10 compelling reasons to get a password manager soon.

We Need Password Management to Enhanced Data Security

A password manager comes with many features that can dramatically increase the security of your business. It can generate passwords that are virtually impossible to decipher. They can store these passwords in secure locations in the cloud. Password Management tools also come with multifactor authentication.

Regulatory Compliance

No matter what industry, businesses need to comply with data security regulations. There is the Payment Card Industry Data Security Standard, or PCI DSS, for instance, and the General Data Protection Regulation, or GDPR. A password manager ensures compliance with these and other relevant laws.

Fewer Passwords to Remember

The stress that employees experience can increase because they have to remember dozens of passwords for the various accounts they use at work. With the Password Management tool, there is no need to remember all these passwords because the program can auto-fill them for you.

Improved Work Productivity

With fewer things on their mind and fewer worries about forgotten passwords, employees can focus more on their actual job responsibilities. Overall work productivity will improve, ultimately leading to better business performance.

Authorized Password Sharing

For accounts where multiple individuals have access, password managers allow these entities to share passwords without compromising security.

Security in Remote Work

With most businesses now using a remote or hybrid work setup, there is much security concern when accessing business accounts from home or public networks. Through tools like high-level encryption, a password manager can guarantee the security of your business network, even with a remote workforce.

We Need Password Management For Better Digital Estate Planning

When the owner dies, the inheritors can refer to the digital estate plan to determine what to do with the digital assets. However, they have a hard time gaining access to the accounts because they do not know the passwords. But if you use a password manager now, this can be incorporated with digital estate planning, making for a hassle-free transition of the business in the owner’s event’s passing.

Centralized Control

The larger the business is, the more complicated password management can get. A password manager program gives IT control over password generation and employee access.

Financial Savings

It’s not the first thing you would think of, but password managers can save you extra expenses. They help save businesses by reducing the time employees spend retrieving forgotten passwords.

We Need Password Management for Business Continuity

In case the business suffers a disaster, like a data breach or a natural calamity, a password manager helps ensure business continuity amidst the recovery process by giving you secure access to all your login credentials.

Final Thoughts on Why Businesses Need Password Management

If these reasons still don’t convince you to get a password management system right away, we encourage you to Download our Free Password Management Cheat-Sheet. You will discover more about password management and other cloud-based solutions that apply to businesses.

If you are ready to take the next step, call us—our team is always here to help!

Why Are Managing Passwords So Hard?

Managing Passwords
Cybersecurity, Data Backup, Security, , , ,

We do most of our business online—emailing, shopping, banking, and much more. But before you take any action, you must log in with a name and password. It’s pretty routine, but with the rapidly growing number of online services that require passwords, it can get increasingly difficult when we are managing these passwords.

Managing Passwords Can Be Difficult

We all know that passwords are necessary to ensure that only you will access your accounts. But managing passwords can become somewhat hard, especially when you already have so many that you need to remember, and we can all relate to this, right? Here are some reasons why password management is a challenge.

Too Many Passwords to Remember

Many people write their passwords in a notebook or digital file. Others have high confidence in their memory and choose to memorize them. This would work well for passwords you use frequently, but for those you seldom use, you will probably forget it when you need it next.

Constant Password Changes

Changing passwords every so often will help ensure the security of your accounts. With all the changes, it is easy to become confused, especially if you forget that you have already changed the password and the one you remember was the old one.

Need for Unique and Complex Passwords

Because of the frustration of remembering so many passwords, most people use the same password across different accounts. We can’t emphasize enough just how dangerous this practice can be! The moment one of your accounts gets infiltrated, the hacker will have a field day because they can access all your other data! Thus, there is an absolute need for different passwords for each of your accounts. This is crucial for security but does make managing passwords a bit more of a challenge.

How Managing Password Applications Can Help

There is something that you can do to manage your passwords better while enhancing their security at the same time. It is done by using a reliable password management application.

Password managers are commonplace these days, but you have to choose carefully. Consider the level of security they offer, the ease of use, and their suitability for the needs of your business. We have listed five of the top password managers in last week’s blog, which you can read here.

Alternatively, you can take advantage of modern technology that enhances data security and user experiences, like biometric login and multi-factor authentication.

Biometric Login

Biometrics is a modern way of logging into an account where you no longer need to enter a password. Instead, a physical trait that is particular to you serves as proof of your identity. Fingerprints are the most commonly used, but some applications also use other biometrics like facial recognition, voice recognition, and iris matching.

Multifactor Authentication

Along with a traditional password, this login method requires additional proof of identity before allowing access to an account, thus multiplying your protection from unwanted access.

Importance of Managing Passwords in Digital Estate Planning

Biometric login and multi-factor authentication are valuable for improving security for businesses, but they can also spell new problems, especially regarding gaining access to your business passwords after the owner’s death.

Let’s say the successor or inheritor of the business gets possession of the computers, gadgets, and so on. If all accounts are set up for biometric login using the owner’s attributes, getting access to the business accounts can prove very difficult. Hence, despite these modern tools, efficient password management should still be implemented.

We invite you to Watch our Cloud Webinar and discover some new insights on the topic. You can also learn about managing passwords, which can add to protecting your business information.

Best Password Management for Businesses

Best Password Management
Data Backup, Security, Technology, , , ,

The best password management is important for businesses. If your passwords are weak or not stored in a safe location, hackers can easily penetrate your system, causing a myriad of damage to the company, your clients, your customers, and who knows what else. You don’t want that to happen!

Fortunately, there are now a lot of reliable password management solutions that are ideal for business use. Some are browser-based, while others are applications you can download onto your computer or smartphone. But if you want the best password management solutions, go with those based in the cloud.

Advantages of Cloud-Based Password Managers

Cloud-based password managers offer more in terms of both safety and convenience, as compared to all the other kinds.

Many people are still hesitant about using cloud technology because of safety concerns. They think cloud solutions are more susceptible to cyberattacks since they are “out there” instead of being in your office. But with the highly advanced encryption methods most cloud providers use, your passwords will be safer on the cloud than on your own servers.

As for convenience, a password manager company that uses cloud technology gives you easier access to your passwords. You can get into it on any device, no matter where you are, as long as there is an internet connection.

Top Best Password Management Solutions for Businesses Today

As mentioned earlier, there are many business password manager programs that are available these days. But we want you to experience only the safest and most reliable programs for your business. That is why we focused only on cloud-based password managers as we scoured the web for the five best solutions you can choose from.

LastPass is one of The Best Password Management

As an all-inclusive password management tool, LastPass offers many features and services that boost the security and overall management of your business login information. Some of their most popular features are password generation, auto-fill, and on-cloud storage. They use multi-factor authentication for added security.

Dashlane

Second on our list is Dashlane which, besides the same password generation, auto-fill, and storage features, also provides dark web monitoring. This service will immediately notify you if your login information becomes compromised. It also has a secure VPN service that makes for a fast and secure connection no matter where you are.

1Password

If you are looking for a business password company that will do much more than generate strong passwords for you and store them in a secure cloud location, 1Password is a great solution to try. They take password management to the next level by using AES-256-bit encryption to protect your data, and their vigilant monitoring will alert you as soon as they detect a breach or even the existence of a weak or duplicate password in your system.

Keeper

One of Keeper’s features is the many security layers it offers. Ideal for both business and personal use, Keeper uses end-to-end encryption to protect your credentials. They combine AES-256 with PBKDF2 encryption,   an advanced technique used only in top-security networks, making your data virtually untouchable by hackers.

RoboForm

RoboForm proves you don’t have to spend thousands of dollars to enjoy top-quality security for your passwords. With one of the most affordable subscription rates available today, RoboForm does not offer as many features as some of the more expensive options. However, they provide solid password auditing, auto-fill, and multi-factor authentication, which will more than keep your login credentials adequately protected.

Final Thoughts For Choosing The Best Password Management

Choose a password manager that fits your business needs. When considering software, it is important to prioritize security, compatibility, ease of use, and compliance. Make sure the rules are followed with regulations that apply to your industry, like the GDPR or the PCI DSS.

For password tips and tricks, Download our Free Password Management Cheatsheet. If you’re not already using it, passwords are safer in the Cloud! Also, watch our cloud webinar about password safety and management. We are just a call away if you need any advice or help with password management!