Layered Security: How to Bounce Back Financially After COVID

It’s hard to deny that COVID-19 has created some challenging times for businesses. Financial futures are on everyone’s mind. Some Small to Medium-Sized Businesses (SMBs) went out of business completely, while others are still just hanging on by a thread. Even some of the largest organizations have been impacted during this time. Many of them have been applying for grants to keep business running as usual in a financial sense but, unfortunately, they aren’t granted to everyone.

So how does a business bounce back from something like this? Not only do business owners want to go back to work to continue their livelihood and that of their employees, but it seems like many are ready to get back to their “old” routine. We are all facing the impact of this pandemic and some industries are doing better than others, financially, but we are all experiencing this in some capacity.

Additionally, business owners that are able to re-open have concern that their typical customers may not come back due to the change in their financial circumstance. In addition, many are re-assessing what their priorities in life and worth the spend going forward. What was once a weekly or monthly expense that we did not think about, may no longer be worth the investment.  

Mckinsey & Company suggests that organizations focus on “improving the experience of customers, many of them frightened, some jobless, and all of them deeply uncertain about the next normal. To renew and refresh their connections to the people they serve, companies need to recognize what’s happening now, and respond in three ways: digital excellence, safe and contact-less engagement, and dynamic customer insights”

IT services are a necessary aspect of every business in today’s world. Even more so now that everyone is remote and must access their companies’ network from their home offices. Suffering a data breach is not an option for most businesses during this time.

That’s why a layered approach to Managed Security for one flat rate, through a Managed Service Provider (MSP) can make such a big difference for you in a financial sense. Without a break fix model there’s less concern around managing money for IT purposes. 

Negative Impact of a Data Breach

As mentioned previously, now is not the time for your business to be hit with malware or a phishing attack. A data breach could potentially put your organization out of business. According to TechRepublic the fear over data leaks has increased because these attacks have turned out to be worse than anticipated.

This new remote environment is creating more opportunities for hackers to infiltrate your company’s network. Network security is so important and by investing in a Managed Security solution these worries will dissipate.

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Layers of Security

When it comes to Managed Security there are a number of layers that you can implement to protect your data. Each contributes its own element of protection to your environment. Combined, they create a fortress around your network so hackers won’t be able to access any sensitive information that could damage your company.

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Identity and Access Management

With the amount of hacking and data breaches occurring, ensuring that your team members, and your team members alone will be able to access your network is necessary.

The right MSP will deploy or provide you with a layered authentication system where the identity of an individual or system is verified by more than one authentication process. This process will provide multiple levels of authentication, depending on the underlying transaction, system or operational environment

Additionally, a Managed Service Provider will provide you with software which will enable a support team to quickly and easily authenticate the identity of your users. Through verifying their identities, with multiple layers of authentication, you have the ability to control which users have access to make administration level requests. 

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Mobile Device Management (MDM)

First, one important layer is Mobile Device Management (MDM). MDM is a granular way for you to control the devices being used on your network. With the rise in Bring Your Own Device (BYOD) policies there has also been an uptick in endpoint vulnerabilities. Along with that, your employees are unfortunately your biggest threat. In many cases, a data breach occurs due to a team member falling victim to some kind of phishing email.

With Mobile Device Management software an MSP will act as your personal mobile operator and handle all security management. For example, MDM allows you to remote lock and wipe any device if it becomes lost or stolen. This way you don’t have to worry about a stranger getting their hands on your private information.

Along with that, application management is a large part of MDM. As a manager you have the ability to control access to your company’s network based on what applications a team member has on their phone. MDM also helps you implement the applications your employees are required to use on a day-to-day basis.

With an MDM layer through a Managed Service Provider, your endpoints are protected, and your network is monitored and controlled at all times.

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Multi-Factor Authentication (MFA)

Another layer of Managed Security is Multi-Factor Authentication (MFA). Multi-Factor is an important part of Identity and Access Management. Passwords are no longer enough. Everyday hackers are developing new ways to easily steal your credentials for important accounts like your financials.

At this point identity theft takes many forms. Requiring a second way for your team to confirm their identity allows your network to be extra protected. The factors involved in this are something that you have, like a device, and something that you know, like login credentials for a site.

MFA has become one of the most popular solutions because it ensures only the people granted access have the ability to use your company’s network remotely.

Security Awareness Training (SAT)

As mentioned previously, your team members are your biggest threat and a hacker’s biggest target. We’ve all done it. Clicked on a strange email and downloaded the attachment just out of curiosity. Unfortunately, one simple click can lead to a huge financial loss for your company.

A Security Awareness Training solution trains your team through “simulated” vulnerabilities, or fake phishing emails. These emails increase your employee’s awareness of hacking techniques. Another element of phish testing is training modules. If a certain team member clicks on a fake malicious link they are led to a customized landing page allowing him or her to learn about their mistake. They will also continue to be phish tested until they pass.

Through this solution TNS can raise the bar and provide a “safety net” in the event that one of your employees unintentionally clicks on something malicious, whether that’s a link or downloadable file. This gives your team a second chance and helps your organization to avoid any serious data breach related consequences.

There are so many layers that are involved in protecting your business. Through an MSP you’ll receive them all for one monthly cost. If you believe your organization would benefit financially or in a security sense from these Managed Security solutions, contact The TNS Group today for more information.