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How Weak Security Takes A Toll On Small Businesses

Future-proof your business and information assets by proactively investing in best practices and robust data management solutions.

September 19, 2024

IT professional checks network security on a computer

Ensure your organization’s data resilience.

Technology has revolutionized how small and medium businesses (SMBs) operate, opening doors to new markets and improving productivity like never before. However, with these advancements come new challenges, especially in data security. SMBs often find themselves disadvantaged, with limited resources, a lack of specialized expertise, and inadequate security infrastructure, making them prime targets for cyber threats. Attackers frequently perceive smaller companies as having weaker defenses, putting these businesses at an even higher risk of data breaches and other cyber incidents. 

As digital threats evolve, SMBs can benefit from data management solutions to safeguard their most valuable asset and long-term reputation.

Data security challenges faced by SMBs

While data security can easily be rolled into large companies' IT budgets, many SMBs cannot afford high-end security solutions. They often lack specialized IT staff to manage and secure data.

Sluggish digital transformation also impacts small businesses. Relying on outdated technology and data practices increases your organization’s vulnerability.

For compliance, proactive and consistent data management also means keeping up with ever-changing legal and regulatory requirements, adding another hurdle to small business data needs.

Tips for achieving data resilience

Data resilience doesn’t require a Fortune 500 budget or a dedicated IT team. Creating a reliable and adaptable data protection strategy requires a proactive approach and the right technology, training, and support. Here are some actionable tips to help your business strengthen its data security posture and prepare you to face any challenge.

Invest in practical tools

Tech tools that combine security features with ease of use can help you manage and protect your business information. Look for software with robust encryption, access controls, and audit trails to safeguard your data. It should integrate seamlessly with your existing tech stack and allow for rapid implementation and return on investment. 

To enhance your security framework, consider tech tools like endpoint detection and response (EDR), next-generation firewalls (NGFW), email filtering, multi-factor authentication (MFA), and password managersConsider tech tools like endpoint detection and response (EDR), next-generation firewalls (NGFW), email filtering, multi-factor authentication (MFA), and password managers to enhance your security framework. Regular backups and clear disaster recovery plans will ensure your data remains accessible and secure, even through unexpected disruptions.

Accountability is critical to data security, particularly for businesses operating in highly regulated industries. Secure data software that tracks all user activity ensures compliance with government and industry standards, providing an audit trail that can be invaluable during compliance reviews or security audits. This helps in legal compliance and builds trust with clients and stakeholders.

Solutions that include dedicated support and continuous access to best practices and updates will help you adapt policies as your data needs evolve. 

Training and policy design

Security isn’t only about technology; it’s about people. Comprehensive training programs can empower employees to recognize and respond appropriately to cyber threats. Start with basics like phishing awareness training and password hygiene, and expand to include testing that reinforces these practices. Establish clear, enforceable security policies that outline acceptable use, password requirements, encryption standards, and guidelines for handling sensitive information. 

Role-based permissions ensure employees access only the data necessary for their jobs, reducing the risk of unauthorized access or accidental data leaks. By cultivating an aware and responsible culture, you create a human firewall that complements your technological defenses.

Proactive risk management is another crucial policy for SMBs. Conduct regular risk assessments and update security measures in response to emerging threats. Leveraging technology can help identify vulnerabilities by tracking access patterns and potential breaches.

Support matters

Even with the best preparations, incidents can still occur. When they do, the quality of support from your technology providers can make all the difference. Whether facing a cyber attack, a power outage, or a natural disaster, you need a vendor that doesn’t just provide software but acts as a partner in navigating crises. 

Look for comprehensive support in your tech tools, i.e., troubleshooting, incident management, and compliance and security best practices guidance. This partnership approach can help you overcome challenges quickly and minimize downtime so your business can continue operating smoothly even when the unexpected happens.

Streamline operations while protecting your information assets

A document management system can be cost-effective for SMBs looking to enhance data security while standardizing business processes. A DMS reduces reliance on slow, manual workflows and facilitates secure file sharing and collaboration, enabling your team to work more efficiently without compromising security. 

As your business grows and collects more data, your DMS can continue to support your document management strategy, accommodating increasing storage needs and user numbers.

No matter your business size or stage, you can benefit from a system to help manage, control, and protect your data in one go. Consolidating your data into a single, secure repository minimizes the risk of data loss and unauthorized access, providing peace of mind and allowing you to focus on core business activities. 

Enhanced security features are a massive perk of sophisticated document management software. User-defined controls and audit trails help you monitor file access. A DMS employs advanced database and communication encryption to protect sensitive data at rest and in transit. Whether your data is stored on a server or transmitted across networks, this protection is key as data breaches increasingly target stored data and data in motion.

User-defined security for individual documents allows SMBs to control access at a granular level, tailoring permissions to specific roles or individuals. This feature helps comply with industry regulations that require protecting sensitive information, such as financial or healthcare data.

A data security strategy drives success for SMBs

For SMBs, building a resilient data security strategy protects information and enhances operational performance. By integrating the right data management solutions, fostering a culture of security awareness, and partnering with supportive vendors, your business can safeguard its data assets and ensure business continuity.

A company-wide approach to security using technology, training, and partner support will shield your business from threats and protect your reputation. Sophisticated tools like a DMS enhance your efforts by fostering accountability through comprehensive user activity tracking.

As the digital landscape evolves, staying vigilant about data security means you’ll remain resilient, competitive, and ready for whatever comes next.

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