Security has to be a key priority for businesses in virtually every type of industry. Here are some of the most effective ways that businesses can cut back their risk exposure by tightening up specific security measures.

1. Get Help to Address Emerging Threats Online

Businesses’ greatest vulnerabilities are often in their own networks. Even businesses whose principal activities don’t involve a presence on the internet such as e-commerce or marketing, every business is susceptible to cyber breaches. When a cybercriminal manages to infiltrate your business’ network, all of your business’ operations and assets are at risk. 

A ransomware infiltration can cause irretrievable data loss and make it impossible for your business to carry out its regular operations. It is imperative that businesses have a ransomware containment plan in place. A cyber insurance policy may be a particularly helpful failsafe resource because it equips businesses to respond to network and data breaches promptly.   

2. Ask for Your Team’s Input

A company’s leadership has to decide what steps to enhance security are going to have the most practical utility and are worth investing in. However, a company’s staff may have some really important input and ideas which owners and managers should consider when making their decisions. 

People on the front lines of a business’ day-to-day activities usually are the ones interacting with customers, maintaining the premises, and troubleshooting problems as they come. The people who are observing what happens in the normal course of business most closely are in a position to identify some of a business’ biggest risks and also strategize about the best options for implementing remedial measures.

3. Make Implementation a Team-Wide Effort

In addition to considering security concerns from your workforce, it’s also important to get everyone onboard with security initiatives. Each employee should understand how crucial maintaining security is to the business. In particular, everyone needs a clear understanding of what they need to do in their individual capacities to make sure that everything is running smoothly.

Enhancing staff awareness about cyber security and other key areas of concern requires dedicated training initiatives. Simply sending out an email about a new security policy may be insufficient to really get the message across. Some people may not even read it, or they may not fully understand every element of a policy. A meeting to train staff about directives can assure that everyone is on the same page. Practical explanations of policies with examples about how people can apply them in the performance of their job duties gives your team clarity about what they need to do. Also, it gives people the opportunity to ask questions that can benefit the whole team. 

4. Review Your Financial Controls

Internal theft can be an especially challenging security concern for businesses to manage. Employees may need access to a business’ resources as a simple matter of necessity, and overly cumbersome restrictions can impede efficiency and create headaches for everyone. Also, taking steps to fortify a business against internal theft may evoke some resentment from staff who may interpret security measures to be practically accusatory. Some business owners worry that stringent controls send the wrong message and isn’t really necessary anyway. In general, business owners who work directly with their staff trust them and cannot imagine that they would take any type of criminal action against an employer.

Nevertheless, appropriate financial controls are a vital part of organized and efficient management. Limiting access to funds and creating processes for requisitioning costly materials are examples of key controls that mitigate the risk of internal theft. Having two staff members sign off on certain types of expenditures or any expenditure over a certain amount are another good way to deter theft.

No matter what type of activities go into running your business, its vulnerability to security breaches is an ever-present threat that you need to be ready to stop. Effective preventive measures can help you avoid preventable losses and give you valuable peace of mind.