Modern businesses make use of technology to handle everyday transactional activities like cloud computing, record keeping, service delivery, sales management and lots of other routines. Technology simply makes it easy to manage small businesses, most especially startups that may not be financially equipped to hire sufficient staff to handle all aspects of their businesses. Technology helps to bridge that gap and perform other important activities that help to keep businesses afloat.
Despite all the benefits technology afford most businesses; it also exposes them threats that can destroy all the hard work and efforts put in to see these businesses succeed. Data breaches are common in recent times. Lots of companies have had their information and important data stolen through the use of technology. Having stated the facts, these are 6 threats modern businesses face.
1. Patching
Most business use software to handle and manage most of their day-to-day activities. Despite the goods provided by these programs, they are usually exploited by malicious persons especially if they are outdated. However, most software manufacturers release patches from time to time clog the loopholes and fix bugs that have been identified during day-to-day operations.
If you are not in the habit of keeping your software programs up to date, you would be leaving your business sensitive data vulnerable to cyber threats.
2. Social Media
Many may be wondering how social media pose a threat to modern business, but I tell you the threat is real. Many employees have had their identities stolen or impersonated on social media. Then these impersonators approach your genuine colleagues to gain sensitive information about your business which they can sell to competitors or perhaps bait you into clicking harmful links which they can use to install malicious programs on your PC.
Many people underestimate the threats businesses face via social media. It’s imperative that you monitor your private and business accounts closely. You’ll need to report any impersonator using your identity or business assets to the authorities.
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3. Phishing
Phishing has been discussed a little in the preceding paragraph. It’s one of the malicious methods hackers use to gain unauthorized access to your private or business data. Unlike social media vulnerabilities, Phishing attempts are mostly carried out via emails.
These emails can sometimes be disguised as official emails. Once an unsuspecting staff clicks any link contained within the email, a page that appears legit might show up prompting employees to enter their login credentials. This information is stolen by the hackers and now used to access the businesses online portal or network. Phishing can be very damaging to modern businesses if successful.
4. Employees
Yes, many employers may be wondering what type of threats can emanate from employees in their payroll. How is the type of threat tech related? These are the type of questions that you might be seeking answers for. The answer isn’t farfetched. As long as you deploy technologies to help manage your businesses, humans will be needed to help manage the systems put in place.
When employees manage this tech hardware and systems, loopholes will be created and exploited by malicious persons. Sometimes employees sabotage their organization’s security system out of grievance or ignorance, thereby living their organization prone to external cyber attacks.
5. Poor technology choices and infrastructure
The tech foundation and infrastructure of every business are very important. It can go a long way in ensuring efficient and effective day-to-day operations. Many businesses have fallen short in this regards in a bid to cut cost, thereby choosing systems that are vulnerable to attacks and data breaches.
If you intend to operate the business you intend to set for a long time to come; you’ll need to set up your technology infrastructure correctly. Try to go with systems that are upgradable so they can serve you for a long time to come. They might be a bit expensive to set up at the start, but then, they help to secure your investment and protect your hard work for a long time to come.
6. Ransomware
The Ransomware program was developed to embed malicious codes into a victim’s system in order to deny them access to their valuable data. A ransom payment is needed for a victim to gain access to his system or data. This program has targeted many businesses in recent time, with millions of dollars doled out to retrieve or reclaim important information.
You don’t want to be targeted by the owners of this malicious program. That’s why you need to put in place high-end security systems to help you protect your vital data and records. It may cost you more in future if you want to cut corners and not implement a watertight security system. That’s why organizations are investing massively in their tech infrastructure to prevent these attacks.
Conclusion
The tech threats faced by modern businesses are real and destructive. Many businesses have gone belly-up because they failed to put the necessary processes and security infrastructure to protect their interests. Many others have blossomed because to got the right security foundation and infrastructure.
If you are looking for compete favourably in the nearest or distant future, you must get your foundations right. You must put in place an effective security system that is devoid of vulnerabilities and loopholes. Programs need to be updated frequently. Employees need to be sufficiently trained to manage and operate the systems. All these precautions will help your business survive in a world where technology is used as a weapon of war by competitors as well as malicious agents.
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