So how can you protect your business?
Start with a thorough risk assessment
In the face of daily business pressures, you may find it difficult to dedicate the necessary time and resources to identify the risks that could significantly impact you. But leading businesses are built on a clear understanding of the diversity of risk challenges that threaten their success, including cyber-risks. A strong ‘risk management discipline’ will help you remain aware of your evolving risk environment even as you embrace new technologies and businesses processes and protect yourself accordingly.
Embrace protection by design
You need to embed data and privacy protection into your processes from the start. This entails identifying the potential cyber-risks at the beginning, then defining the controls to protect against them. Adding on security controls after the fact is like trying to change a flat tire while the car is hurling down the road. You’re perpetually scrambling to respond to threats, instead of building in protection from the beginning. What’s more, building in robust protection and countermeasures from the start enables you to cope with evolving regulatory expectations.
Consider security as a service-managed solution
Companies of all sizes are struggling to keep up with the rapid evolution of cyber threats, coupled with the rapidly growing data sets they have to manage and protect. Fundamentally, a security approach should fit the degree and nature of risk that your business is trying to anticipate and manage. Finding a fit-for-purpose data security system while keeping an eye on the bottom line may mean considering a cloud based, managed service approach. Just as private companies have turned to the cloud for so many business-enabling tools, this environment also offers “Security as-a-Solution” platforms to fit your unique needs. Consider it your virtual Chief Information Officer providing expertise, evolving threat protection and active management 24/7 more cost-effectively than an in-house solution.
Provide training and education
While it’s tempting to think about cybersecurity as a tech issue, it’s actually a thread that weaves throughout all three key pillars of a business: its people, technology and processes. Training, education and awareness is essential; what’s more, cyber security and privacy compliance need to be the responsibility of every employee in your organization. It’s an exciting time to be leading private business in Canada as data driven technologies fuel growth and offer new capabilities. But with growing opportunity comes inevitable risk. By embedding robust data and privacy risk assessment, protection and countermeasures into every stage and facet of your business, you can continue to thrive in today’s transformative environment.