Why Your Business Needs a Data Recovery Plan

Why Your Business Needs a Data Recovery Plan

We all know how important our business data is in today’s digital world. We are creating and using tons of new data every day. In fact, according to Forbes, there are 2.5 quintillion bytes of data created every 24 hours. And much of this business data is essential to keeping your business running smoothly and successfully. So, there’s no debate that this data needs to stay protected. The question is – Do you have a process in place to manage and keep your data safe? And better yet, do you have a disaster recovery plan if something terrible happens?

Considering that cyberattacks only continue to increase, now is the perfect time to have a solid data recovery plan. This article will discuss the dangers of not having a plan and why you need one. No matter how big or small your business is, you must have a data backup and recovery plan to protect your most valuable assets. Without a plan, you may be putting your business on the line.

The Dangers of Not Having a Plan

When you don’t have a data recovery plan in place, you leave your business extremely vulnerable to scenarios that could impact the safety of your data. A classic example is a cyberattack, especially in the case of ransomware attacks. According to CompariTech, two in five SMBs have been victims of ransomware attacks. Without a data backup and recovery plan, when bad actors hack into your system, they now have access to all your data and can hold it for ransom.

Ransomware attacks are no longer an uncommon practice either. And the percentage of companies that survive them and get their data back is not very high. Sophos found that 46% of companies faced with an attack paid the ransom and only 4% of those that paid got their data back. With few positive outcomes from a ransomware attack, the simple solution is a data backup and recovery plan. But cyberattacks are only one primary concern facing small businesses.

Another one of the biggest dangers that any business faces is downtime. According to Forbes, 82% of companies have experienced at least one unplanned downtime incident over the last few years. And believe us, downtime is never cheap. Gartner found that the average cost of downtime was $5,600 per minute. That’s over $300,000 if your business experiences just an hour of downtime. With a data recovery plan, downtime is all but eliminated because your company always has access to your data.

Why Having a Data Backup & Recovery Plan is Critical

There are many reasons why having a data recovery plan is crucial to the livelihood of your business. As we mentioned before, the most obvious is that your data is valuable and can be easily lost during a cyberattack or system failure. Whether you lose your data to a bad actor or any other way, you always have a second copy of those files when your data is backed up. But stronger security is only part of the battle; there’s also compliance.

A data backup and recovery plan is critical to maintaining compliance standards. When your business properly keeps up with compliance standards, you’re helping yourself avoid costly fines. This is especially important if you work in a heavily regulated industry like finance, healthcare, government-related work or legal. For example, individual HIPAA violations can cost as much as $50,000 per violation, so you need to keep your data backed up for many reasons, including steep regulatory fines.

There are many other benefits to a disaster recovery plan beyond security and compliance. With a plan in place, you can save a lot of money just on how you operate. With a cloud management system, you can give everyone access to what they need in a scalable system that increases workplace productivity and worker satisfaction. You can support flexibility and empower your employees to do their best work with a cloud backup and recovery system and an IT infrastructure that delivers long-term cloud solutions that benefit your business and team.

At Nitor Solutions in North Carolina, we offer long-term plans that help make sure your data is secure. Whether you’re looking for basic cloud upgrades or an offsite data management solution, our IT experts are here 24/7 to help you with any of your business IT concerns.

Looking to learn more IT tips that your business could use? Check out our past blogs on cybersecurity and cloud solutions, or contact our team to continue the conversation.

 

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What a Cybercriminal Does with Your Stolen Data

What a Cybercriminal Does with Your Stolen Data

In 2021, Verizon found that of the almost 80,000 cybercrime incidents reported, over 5,000 of those incidents were confirmed data breaches. Data theft is a rising problem for all businesses, and as bad actors come up with new tactics, cyberattacks continue to happen more often. We all know that cyberattacks occur, but what happens after a cyber threat steals your data?

This blog explores what happens to your data once it’s in the hands of a cybercriminal. It’s important that you’re aware of the many ways data theft can impact your business. That way, you can learn where your business could improve when it comes to cybersecurity. Here are four of the most common actions taken after a cybercriminal steals your data.

4 Ways Cybercriminals Use Your Stolen Data

 

1. They Sell Personal Information

One of the biggest threats to organizations is that these criminals can steal your personal information. Things such as names, addresses, phone numbers, Social Security numbers and email addresses are all fair game to be sold on the dark web. Believe it or not, the price for this sensitive information is pretty cheap. According to CompariTech, the average cost for full credentials – which includes your name, Social Security number, street address and birthday – on the dark web is $8 per record.

2. They Distribute Login Credentials

Your usernames and passwords are considered extremely valuable information for cybercriminals. Credential harvesting is when a hacker gathers a compromised user’s credentials for their benefit. IBM reported that credential harvesting made up 7% of cyberattacks in 2021. They can then use these login credentials to get into any of your accounts and steal more of your information.

3. They Commit Financial Fraud

From your credit card numbers to your PIN numbers, your financial information is the main motivation for cybercriminals. According to Verizon, around 90% of bad actors are motivated by financial gain. They can use your bank accounts to pay bills, transfer money to themselves, or perform fraudulent transactions online in your name.

4. They Target Higher Personnel

Cybercriminals can use stolen data to seriously harm your business. Commonly known as whaling, this phishing tactic is when a cybercriminal impersonates a CEO or any other high-ranking official in the company in order to steal sensitive information, money or gain access to their network. From there, they can gain access to spy and infect a network without anyone knowing.

As global tensions continue to rise, it’s more important than ever to take control of your data and keep it safe. Putting steps in place to better protect your network is a great first step to safeguarding your business. If you’re not sure where to start when it comes to data protection, partner with an MSP.

Nitor Solutions in North Carolina is ready to help protect your business with the best cybersecurity tools. Our experts are here for your business 24/7 and are ready to show you how you could be better defending your business.

If you want to learn more about our cybersecurity solutions, contact us today.

 

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Why Keeping Up with Email Security Is Important to Your Business

Why Keeping Up with Email Security Is Important to Your Business

With current global events related to cyberattacks, it’s becoming extremely important that you’re up to date on all your security measures, including email security. If you haven’t already, now is the perfect time to go through your current level of security and make sure your North Carolina business is fully protected.

One area that you should be immediately addressed is your business email system. In 2021 alone, more than 319 billion emails were sent each day, and this number is only expected to increase annually. Unfortunately, while we have seen more and more emails being sent, we are also seeing an increase in cyberattacks.

According to several reports, over 90% of cyberattacks start with an email. These emails usually have attached files or compromised links that, once clicked on, program some form of malware that attacks the victim’s software. Phishing attacks are becoming a real problem. In fact, 32% of all successful breaches involve using phishing techniques. That’s why it’s so important to invest in secure email services and cybersecurity training.

Cybersecurity Training: What’s at Stake?

Do you and your employees know about the different types of phishing emails? They can be easily disguised as an email from someone you trust. Without cybersecurity training, you may click on fraudulent links and attachments leading the way for cybercriminals to access your personal information.

A successful phishing attack can result in financial loss, compromised accounts, a damaged reputation, and much more. It’s important that you and your employees are able to pick out suspicious emails. In order to stop phishing attacks, you need to learn more about them. Let’s cover the main types of phishing attacks.

Phishing Training: 4 Types of Emails You May Encounter

While there are many types of phishing emails, here are a few common types that businesses see often:

Spearphishing

One of the leading types of phishing emails, spearphishing uses personalized information to convince users to open attachments or click on links. These attacks are usually targeted at specific individuals or groups in an organization.

Spoofing

Spoofing is when cybercriminals disguise themselves as trusted sources. The sender will forge email headers so that the software displays the fraudulent sender address. If it’s a name the victim recognizes, they’re more likely to trust it, so they’ll click on links, open malware attachments, or even send sensitive data and wire funds.

Whaling

Whaling, also known as CEO fraud, is when cybercriminals impersonate a CEO or any other high-ranking executive in a company. The goal is to use the presence of a powerful figure to steal sensitive information, money, or gain access to their computer systems.

Malvertising

Malvertising is when cybercriminals embed malicious code into legitimate-looking advertisements. By clicking on these infected ads cybercriminals gain access to anything on your device.

Email Security Services: How to Protect Your Business Devices

To keep your business devices protected, you need to constantly run updates and security filters. By running updates, you’re making sure your devices are up to date on the latest security patches to protect yourself from cyberattacks. Email security filters prevent suspicious emails from getting in your inbox.

With everything going on in the world, it’s extremely important that you’re on top of your security. This is a difficult situation, and the security of your business is a priority right now. If you don’t have a plan or if you’re unsure where to start, an MSP can keep your business secure.

Nitor Solutions is here for all your cybersecurity needs. Our team of experts will assess your current level of security and develop solutions to better protect your business.

Schedule a security assessment with us today.

 

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A Digital Cleaning Is What Your Business Tech Needs

A Digital Cleaning Is What Your Business Tech Needs

Digital cleaning, such as checking for outdated technology, may be more impactful than you think. Recent statistics show that cybercrimes occur more frequently to those who are not updating and cleaning their systems.

The U.S. Small Business Administration found that 88% of SMBs felt that they were vulnerable to a cyberattack because they didn’t have the resources to protect themselves adequately.

How secure is your business? By running a digital cleanup, you’re taking care of maintenance you may have been putting off and helping your system become more secure and protected.

Why Is Performing a Digital Clean up so Important?

The reality is if you have outdated software, your business may be vulnerable to an attack because you’re lacking the latest security updates. If you use outdated technology, you’re vulnerable to cybercriminals because your out-of-date programs don’t have the newest and latest security updates.

The cost of cybercrime globally goes into the billions, and SMBs have had to pay their share. If you think you’re too small to worry about a cyberattack, think again — 2021 study from Hiscox revealed the average cost of a cyberattack for a small business was $25,612.

A data breach won’t just cost you money. It will also erode your reputation and cause your clients to lose trust in you. A study by Centrify found that 65% of victims of data breaches lost trust in an organization because of a data breach.

How Can You Protect Your Business?

There’s no better time than now to conduct a thorough tech cleaning. While organizing your office and business, make sure you’re also giving your technology a digital cleaning.

Here are six ways to keep your technology healthy:

  1. Conduct a digital cleanup — The basics of a clean-up include simple tasks such as changing up your logins, backing up data, organizing your digital files, and deleting unnecessary files and unused apps.
  2. Review your equipment — It is very important that all your software is up to date and running properly. When your software is updated, it helps reduce the risk of infections from malware.
  3. Prioritize your security — Consider using password managers to help create difficult passwords that hackers can’t guess. Another great option is to enable multifactor authentication, which requires you to enter a second code to ensure that your accounts are secured.
  4. Get rid of any old data or equipment — If you have apps or files on your devices that you no longer use, delete them. Not only are you protecting yourself that way, but you are also freeing up space. Going through your email and deleting and unsubscribing to unimportant emails is also a great practice.
  5. Review privacy settings — Go through your privacy and security settings on all your devices to make sure you still agree with the terms in place.
  6. Partner with an MSP — By working with Nitor Solutions, we can do all the work included in these steps and more.

A digital cleaning will help set you and your business up for success. You won’t believe the peace of mind that comes with updating and cleaning your tech. For the remainder of the year, you don’t have to worry, and by this time next year you can review all these steps again.

It’s important that you are paying attention to the tech you rely on and address any issues you may have. Doing so will boost productivity and help you better serve your customers.

Nitor Solutions in North Carolina offers several helpful services that can help you tidy up your tech. Whether it’s remote IT services, backup and recovery, cybersecurity and more, we are here to help you with all of your business technology needs.

Schedule a digital deep clean today.

 

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Check Your Tech for Cybersecurity Benefits in North Carolina

Check Your Tech for Cybersecurity Benefits in North Carolina

Cybersecurity benefits are many. Safeguarding your business with strong cybersecurity is essential when it comes to ensuring sustainability — especially as hackers and cybercriminals become more audacious.

Hackers no longer simply take your data. They use ransomware by locking up your network and freeing your data only until a specific amount of money is paid. Or they take your information — and that of your clients — and sell it on the dark web, where people are pouncing on the chance to purchase financial and personal information.

However, just implementing cybersecurity isn’t enough to prevent you, your business or your clients from becoming a victim. You need to perform routine checkups to make sure your security can handle whatever tricks hackers and cybercriminals have hidden up their sleeve.

Strong, current security can do more than just prevent a breach — there are boundless cybersecurity benefits, beginning with protecting your bottom line. Iron-clad cybersecurity will help save you money in the long run, allowing you to put more resources back into growing your business and serving your customers.

Here are three reasons why checking up on your security is a great way to protect your company’s wallet:

1. Prevents downtime — A data breach or cyberattack can bring your business to a screeching halt, especially if you don’t have a backup plan in place to quickly get you back up and running. This can be costly. Gartner reports that the average cost of IT downtime is $5,600 per minute. Of the companies that responded to Gartner’s poll, 98% said a single hour of downtime costs more than $100,000 — with 33% of those reporting that amount could reach anywhere between one to five million dollars. By keeping hackers and breaches at bay, the right cybersecurity keeps your business moving and keeps your cash in hand.

2. Maintains your client base — Your customers may be sheepish to work with you again once your business suffers a data breach, especially if you fall prey to a ransomware triple threat — when a hacker holds your data and your clients’ data hostage. And it can be extremely challenging to attract new clients once word spreads about your breach. According to a study conducted by security.org, one in every four Americans stops doing business with a company once it has been hacked. That’s 25% of your clients who will be taking their business — and their money — elsewhere. Of those who decide to stay with a business after a breach, two out of three surveyed said their trust has been eroded. Whether you’re losing clients, or your existing clients are no longer recommending you to friends and colleagues, a data breach will undoubtedly chip away at your customer base. Keeping your clients and preserving their trust in you is just another of many cybersecurity benefits.

3. Keeps your doors open — Of all the financial cybersecurity benefits, there is none more than this: Regularly checking up on your security and ensuring it’s up to standard can literally save your business. The National Cyber Security Alliance found that 60% of small companies go out of business within six months of a data breach, a statistic mostly attributed to costly downtime and the damage done to a company’s reputation.

Strong cybersecurity can help keep your business financially solvent — but only if the security is properly maintained and checked on regularly.

Nitor Solutions in North Carolina provides scalable and budget-friendly security solutions that help you stay protected against the latest threats. We protect your business like it’s our business and will be happy to work with you in creating an effective checklist that ensures your security is up to date and up to standards.

Put your money and focus where they belong — toward the growth of your business.

Discover peace of mind. 

 

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