As the business landscape continues to develop online, recognizing risk becomes a full time job. E-commerce has allowed small businesses a chance to work on a more level playing field with their larger competitors. It has also encouraged and enriched the way business-to-business (or B2B for short) marketing can affect the company’s bottom line. But with every new development in a given market, new threats begin to emerge.
New attacks in the form of the latest viruses and ransomware will cripple your company system within days, leaving your network vulnerable to data breach. The most effective way to counter this is to invest in a well-reviewed anti-virus software. The biggest problem with ransomware is that once it is on the system, the only way to unlock your machine and regain access to your data is by paying a third party, typically in the form of bitcoins. Bitcoin is a form of cryptocurrency that is very difficult to track, making it the preferred method of criminals to extort money from businesses and individuals alike.
Another vulnerability is that posed by criminals gaining unlawful access to a company network. A data breach of this nature can expose client and customer information, as well as data from any businesses that the company sells services and goods to. In some cases sensitive financial information that could lead to identity theft can also be compromised. Companies that place their client and B2B financial data at risk can suffer serious legal reprisal, in both civil and criminal courts.
A good answer to this form of network vulnerability is to invest in a hardened firewall and a third-party managed cyber security service. Limit the access of company data to only authorized users and cut down on the potential loss incurred by a data breach. Make sure that sensitive company data is being monitored and protected 24 / 7. There are too many threats to your financial data. Your clients and B2B partners deserve the guarantee that their information is being held securely by a company which is aware and proactive in addressing data risk.
As a company grows, so too does the value of its financial data. Protect your assets.