How B2B Brands Can Employ Cybersecurity for Data Protection

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Data breaches and security vulnerabilities are now more significant and riskier than ever before. Data is the new gold, Databases are the new goldmines, and cyber attackers want to do everything that they can to lay their hands on the data. There is a growing concern in data security, and you can be sure that the data vulnerabilities are here to stay. Data breaches and vulnerabilities are majorly championed by the increased digital devices embedded with robust network connectivity. The number of connected devices could also be a great canvas that allows hackers to prey on.

With this trend, cybersecurity implications and data protection are given a fundamental priority in small- and large-scale organizations.

The B2B sector is a hotbed for hackers. B2B marketers fear the repercussions that might result from a success data breach. According to a Ninth Annual Cost of Cybercrime Study report conducted by Accenture, the average cost of a cyber breach reached US$13.0 million as of 2019.

Users and customers have also become cautious of all the data and information they share with businesses. Marketers need to assure them of the safety of all their digital resources. Furthermore, all organizations need to comply with the laid down guidelines by laws and regulations dealing with data safety such as the General Data Protection Regulation. Failure to comply with such laws and regulations might attract huge fines and penalties.

B2B brands have no choice but to implement robust B2B cybersecurity measures. Apart from just offering the required security level, implementing a full data protection plan will also help B2B brands strengthen their brand, retain customer loyalty, and promote brand equity. Employing data security for cyber protection can be done. This article explains how B2B brands can use cybersecurity for data security and reap big from its benefits.

Have a clear understanding of the components of cybersecurity

The first step in B2B data security is to know the fundamental elements of data security. Cybersecurity is a blend of technologies, tools, techniques, and practices tasked with protecting all the digital resources of an organization, including all hardware, software, and all data held in these components from unauthorized accesses. Cybersecurity has five elements that you need to understand if you have to protect your B2B from cyber attackers. The five aspects are discussed below:

Application Security

Applications, and most software applications, are vulnerable to numerous vulnerabilities. Such vulnerabilities include unauthorized access, data thefts, software malware and viruses, data deletions, and modifications. Application security is all about the procedures and strategies applied in protecting all your applications from the dangers mentioned above. B2B marketers should deploy proper cybersecurity measures to protect all applications.

Information Security

Information is a lucrative piece of B2B organization that hackers are looking for. Information security is all about risk assessment and information management to ensure that all the data held in B2B servers is safe. Proper tools should be put in place to provide information security. For example, tools such as SSL certificates will secure information and communications between servers and web browsers. SSL certificates will encrypt all the information, thus protecting it from malicious intruders. A particular type of SSL certificate that is ideal for B2B is the Wildcard SSL certificate where multiple subdomains are there that needed to be secured. Digital signatures are also suitable for information security. They verify the identity of a user before the user can be allowed to access the information.

Network Security

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Network security is concerned with protecting users using the internet and protecting the network data’s safety. Threats such as malware attacks, data interceptions, and identity thefts are halted from entering the network.

Disaster Recovery

This is an element of data security that is concerned with uncertainties. Data recovery strategies, such as backup plans, are taken into consideration.

End-user Compliance

The last element of data security is the one concerned with the behaviors of end-users. Your employees could make or break your security walls. They need to be enlightened on best security practices, IT policies, global data security regulations, possible cyber threats, and how they can protect themselves from such cyber threats.

Understanding the Possible Cybersecurity Threats

A cybersecurity threat is a malicious activity staged by a hacker that seeks to destroy data, steal information, destroy the victim’s system, or stop the system’s proper operation. There exists no B2B that can be said to have full immunity from cybersecurity threats. All are vulnerable. You can never know the security measures you need to take if you do not know what you are securing yourself from.

Let all your employees, staff, and customers know some of the security threats that can hit them. There exist many cybersecurity threats that B2Bs are likely to experience. They include malware attacks, phishing, spear phishing, data breaches, Trojans, and ransomware.

Knowing the source of the threats is also essential in the war against cybersecurity threats. Knowing where the enemy is located is a big plus to you. Cyber threats will come from different places. Here are some of the sources of cyber threats:

  • Organized crime gangs
  • Hackers
  • Your competitors
  • Individuals
  • Terrorists
  • Malicious insiders

Evaluating Cybersecurity Solutions

With the fear of insecurities and cyber threats running through companies and organizations, there is panic over which security measures to take if the organizations must remain secure. Moreover, vendors are now flooding the market with cybersecurity tools for security teams. As more and more security measures, suggestions, and security tools continue to clutter the market, businesses are struggling to know which tools and products are worth investing in. The truth is said, what is needed right now is not more security tools but somewhat smarter and quality tools. To reduce the security tools clutter, there are a few considerations that you should make to ensure that you are getting what is perfect for your B2B.

Firstly, you need to understand your security goals. You will then need to consider your current capabilities and clearly define what you are missing out. You will then need to find a means that fill the void. For instance, if your security team does not have the required level of skills to protect your business from cyber threats adequately, you might consider hiring more or equipping them with the required skills. The solution that you choose to work with should have a proven track record. You should also measure the efficacy of the security solution you choose to go for.

Have a modern and cohesive Security Intelligent System

B2B enterprises ought to invest heavily in effective business intelligence systems. The systems should be shared across all business departments at possible cyber-attacks. An extended network that audits and surveys for any security vulnerabilities is the right security approach. The intelligent security system should be cohesive enough to include all devices and resources that the business holds. The intelligent security system should also be coupled with security solutions.

Employee Awareness and Training Program

Employees can, at times, be vulnerable and be the leading cause of security threats. Having a working employee awareness and training program where all your business stakeholders are enlightened on the best security practices is a crucial thing. Employees and all business stakeholders should be taught how to identify possible security threats and know how to better deal with the threat when it occurs. They should be enlightened on the precautionary measures, such as avoiding the opening of suspicious links. They should also be taught better security practices such as strong and unique passwords and multiple-factor authentication.

Conclusion

Automation and advancements in technology is something that we are witnessing, and which is expected to go on. With the introduction of new technology features and new integration comes a myriad of security risks awaiting to rise from the ashes too. Knowing these threats and how to properly deal with them can significantly help your B2B properly deal with data breaches and ensure the utmost data protection. Cybersecurity is here with us, but effectively employing it could be a problem. This article has explained five vital tips on how your B2B brand can employ cybersecurity for data safety.

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