3 Tech Tools You Need to Safeguard Your Business
The internet has created endless opportunities for business owners to connect with customers and establish a professional online presence. However, as technology becomes more sophisticated, so do hackers. Contrary to popular belief, email addresses and social media logins aren’t the only things at stake. Cybercriminals can gain access to your clients’ confidential files, your personal information, and your finances, compromising your business’ integrity in the process.
Although many small business owners believe they’re safe from online threats, a recent cybercrimes study reports that small businesses suffer from 43% of cyberattacks. In addition, experts predict a 15% increase in costs related to cybercrimes in the next five years. So prepare for cyberattacks, viruses, and phishing scams to become more prevalent and malicious as time goes on.
Your best defense is to learn about the latest risks and take the initiative to protect your business, clients, and bottom line. If you’re wondering where to begin, here are three tools to safeguard your business.
Tool 1: A password manager
Do you use the same password for all your accounts? If so, it’s time to retire this practice once and for all. You may feel tempted to use something easy— like your pet’s name or a specific date—but including common information weakens your security. Once a violator gains access to password databases, they can hack anything — so avoid repeating passwords or using standard information.
Instead, implement a random password generator to produce and input hard-to-guess passwords without memorizing them. Trusted by 100,000 businesses, 1Password is a security tool that allows you to store and utilize strong passwords, so all you have to do is log onto sites with a single click. In addition, a password manager lets you share login information with your team without concerns about security breaches.
You can also opt for multi-factor authentication to receive a text or email anytime there’s a login attempt. This alert can help you determine if you need to update your password.
Tool 2: A cloud storage system
Cloud storage protects your business’s data from hardware and computer malfunctions. It’s also a convenient space accessible from any device. So whether you’re using a new laptop or traveling, you can always access your files.
While many companies rely on Dropbox and Google Drive for cloud storage, cyberhackers can—and do—infiltrate these systems. In 2022, cloud exploitation jumped to 95%. As everyone moves more data to the cloud, cyber threats continue to increase. Ultimately, a general cloud storage system may not be ideal for your small business.
However, there are alternative options, like Backblaze. Supporting 500,000 customers, Backblaze safeguards files and systems, creates applications, offers backup services for Macs or PCs, and ensures peace of mind. Review your internal systems and determine if this tool is right for your business.
Tool 3: A trustworthy payment processor
Nowadays, customers expect online payment options when making a purchase. Such tools contribute to convenience and a seamless client experience. However, online payments are still subject to risks, so using a reliable payment processor is necessary to safeguard your bottom line.
A popular choice for small businesses, Stripe provides a secure payment platform where users can accept and transfer money worldwide. They also have security measures against fraud. Stripe is a certified PCI Service Provider Level 1, utilizing the latest tools and methods to ensure customers receive the best defense.
For instance, they use a separate hosting space from Stripe for sensitive payment data and communication encryption. Protect your clients’ private information and payments by researching credible payment processors and selecting the best match.
With automated tools and software available, now is the time to incorporate cybersecurity into your business. You can begin the process by providing basic cybersecurity training for your team. A technological specialist with expertise on the latest threats can help you and your workers recognize red flags and create a plan of action. In addition, you can familiarize yourself with phishing scams to protect your business from data breaches.
The digital age is here, and you must prepare for the worst-case scenarios. Start safeguarding your small business today, so you can feel confident knowing your clients, bottom line, and reputation are protected.
Elizabeth Sheils is the co-founder of Rock Paper Coin, the first software platform to bring together wedding planners, couples, and vendors into one system for managing and paying contracts and invoices. Elizabeth is also a lead wedding planner with award-winning firm Bridal Bliss, where she manages the Seattle team. In addition to recognition by Special Events in its Top 25 Event Pros to Watch series, she also earned a spot in The BizBash 500 for 2021.
