Cybersecurity refers to the protection of computer-based assets, including sensitive information, from potential threats. There are many strategies to safeguard your organization’s resources, but one of the most effective processes is an IT risk assessment.
Why Should I Perform An IT Risk Assessment?
According to the Ponemon Institute’s 2019 Global State of Cybersecurity study, over 39% of small and medium-sized businesses lack an incident response plan to combat data breaches and other cyber attacks. Many organizations have been gradually investing in mechanisms to defend against attacks. Additionally, the content on, and the structure of, the Internet continues to constantly change; therefore, an IT risk assessment can be very beneficial. Let’s analyze four major advantages of this type of cybersecurity evaluation.
Pinpointing weaknesses is a key priority for any organization seeking to protect both employees and clients against external or internal threats. A risk assessment demonstrates whether your organization’s security policies are effective or not, in proportion to your goals. A considerable portion of vulnerability testing involves measuring the severity of loopholes in a system’s infrastructure to ensure an adequate defense plan. This essential precaution ultimately lays the groundwork for your entire cybersecurity plan.
Determine Potential Security Risks
Accenture estimated in a 2019 report, on the cost of cybercrime, that 68% of organization leaders fear that their cybersecurity risks are increasing. An IT risk assessment is the most effective way to identify threats, which can take many different forms.
Establish Risk Responses
A risk incident response plan also involves detecting and understanding the source of the threat, which includes creating logs that can be used to track any suspicious activities on applications, cloud services, devices and operating systems. Certain states also have privacy laws such as GDPR that require that all parties affected by a breach be notified quickly and publicly so that they may protect themselves as much as possible or in the event that such a breach ever occurs again in the future. Be sure to take the time to inform yourself about whether or not privacy laws exist in your state.
You should also strive to document your security plan. This means that any financial records or contracts or agreements you have reached with business partners must be maintained in a secure location. These records can ultimately serve as evidence should your organization ever encounter any legal issues. It’s also imperative to keep these documents in a secure location, such as a safe, where only your organization can gain access to them. Be sure to review each document to be as prepared as possible and prevent any type of litigation from occurring.
Enhance IT Processes & Defenses
One important aspect of an adequate IT risk assessment plan involves prioritizing your assets. This entails compiling a list of these assets and determining which ones are the most essential to your business and whose compromise or destruction would hurt your organization the most in the event of a breach. There are strategies you can implement, such as utilizing network segmentation, that can effectively ensure your data remains secured and that mitigate losses. A layered defense approach (e.g. double encryption for files) can greatly enhance your cybersecurity plan.
It’s also essential to emphasize basic awareness of cybersecurity threats, why they occur and how to solve them. One SC Magazine survey asked readers about their opinions on whether security awareness training is important; over 88% said they believed this practice was crucial. The 2014 U.S. State of Cybercrime Survey also revealed that approximately 42% of participants said they believed that training new employees in security awareness made a difference in preventing cyberattacks. The survey also found that organizations that implemented this type of training sustained significantly lower losses on average, compared to those who didn’t educate their employees.
Reach Out To A Managed IT Service Provider
Speak to the professionals at TCB 24X7 Expert Network IT Support in Chantilly, Virginia to learn more about the advantages of conducting an IT risk assessment. Founded in 1993, we are dedicated to providing efficient and innovative IT solutions to a wide variety of clients, including both small businesses and large enterprises, in the DC Metro Area. Our staff is certified in many different types of IT support solutions such as network installation and integration and specializes in various IT-related fields, including data backup and recovery, spam filtering, IT help desk, IT security and IT assessments.