Tag: Technology

How Cybersecurity Training Helps with Compliance and Risk Mitigation

Posted on by Mike

The main goal of cybersecurity training for staff members is to defend the company from internet threats. However, there are many more reasons to enroll in security awareness training. In addition, it is critical for risk mitigation, staff welfare, consumer comfort, and cybersecurity compliance—the subject of this piece.

Why is Risk Reduction and Cybersecurity Compliance necessary for Training?

Cybersecurity training and regulatory compliance are connected, both directly and indirectly. For instance, many regulatory bodies expressly mandate that companies teach all staff about security policies or data protection regularly. They would impose fines and other penalties for breaking this rule.

It protects you from fines and other repercussions. 

You would have to abide by certain cybersecurity compliance requirements based on your sector, business location, and type of organization. Regulations about cybersecurity include HIPAA, PCI DSS, SOX, NYDFS, GDPR, NIST, CMMC, and many others. Primarily, noncompliance with these criteria would seriously jeopardize your system. However, you may also be subject to harsh fines and severe consequences, such as legal action.

It helps prevent several other mistakes. 

Employees with insufficient training are more susceptible to social engineering and phishing scams. They might even carelessly handle data and break rules without realizing it, which could cause a variety of cybersecurity compliance mistakes. We can avoid all of this with the right advice.

It promotes vigilance and alertness.

Innovative cybersecurity training techniques, such as simulated attacks, will increase employee retention and increase their awareness of potential cyber threats. Although not mandated by law, we regard it as one of the best risk management techniques and guarantee adherence to the National Institute of Standards and Technology’s (NIST) Cybersecurity Framework.

It underlines how important data security and encryption are.

Some of the most important components of data privacy training required to satisfy cybersecurity compliance requirements are data confidentiality and risk mitigation, particularly regarding encryption, data sharing, and access restrictions.

It enhanced audits for cybersecurity compliance.

Your company will not only pass compliance audits but will pass them with flying colors thanks to cybersecurity training. The likelihood of receiving an excellent audit report increases when all staff members receive sufficient training on security regulations.

It enables authorities to assess your cybersecurity compliance.

A quality training program includes measures for assessing the course’s efficacy and participant tracking. Regulators can use all the information to verify that your company complies with cybersecurity standards.

It forges a strong security culture inside your company.

Having a regular training program in place shows your employees your commitment to cybersecurity and motivates each person to make the best personal decisions for preserving high security. It also reduces the possibility of an insider threat.

Everyone is informed.

Because online dangers are always changing, we must also change compliance rules daily. Frequent training keeps you compliant by informing everyone in your company about the newest developments.

We encourage top management to give compliance demands top priority.

Top executives with a firm grasp of the significance of compliance and responsibility will be more vigilant in implementing cybersecurity and data protection laws.

Conclusion for Cybersecurity Compliance

As you have just seen, cybersecurity compliance has an influence on many parts of the organization, even though it sometimes seems like just another standard requirement in the workplace.

Has your data been hacked? Download our Infographic, “The Top 10 steps to take if you think you have been hacked.” If you’d like, call us and we can talk about how we can customize data security for your unique needs!

Please contact us if you’d like more information, and we’ll be pleased to provide you with a free consultation!

Phishing and Social Engineering Simulations

Posted on by Mike

Businesses have explored many approaches to educating their staff members about phishing and social engineering. However, even now, human error remains the primary cause of over 90% of data breaches. Not much has changed in the last five years! Just how difficult is learning? Maybe there’s a better training program we can employ.

While traditional classroom training is effective for presenting concepts, it is not the ideal method for ensuring employees learn these concepts and can apply them in real-world situations. A better approach must exist, such as role-playing activities that promote critical thinking when confronted with a real-life phishing or social engineering threat.

Ten Proficiencies Developed through Simulation Practices

Through realistic simulations, your staff can gain competencies that will improve the security of your company. Your staff can profit from simulation exercises in the following 10 ways:

Detection of Phishing and Social Engineering Attempts

Understanding the appearance of phishing emails is the first line of defense against them. Hackers will usually disguise them to resemble the real thing. Still, there will always be indicators to alert you that these download requests, links, or even straightforward email messages are not to be trusted.

Knowledge of Safe Online Conduct

You shouldn’t browse the internet carelessly because your machine has built-in anti-malware technology. Take precautions every time you use the internet to keep yourself safe. Some helpful precautions include using only https websites, avoiding public Wi-Fi, and turning off the auto-fill feature in forms.

Developing Robust Passwords To Prevent Phishing and Social Engineering Attacks

We are aware of how crucial it is to use secure passwords for every account. Many employees forget, maybe because there are so many passwords they need to remember. Exercises that simulate password cracking can show how simple hackers can find a password. Seeing this would successfully lead the lecture and instruct participants to create complicated, lengthy passwords. Using an effective password manager and multi-factor authentication can also help.

Utilizing Social Media Caution

A typical person uses social media for 2.5 hours per day. This is a long period during which cyber predators can easily target you. Adopting safety measures such as restricting the sharing of private information, avoiding dubious apps, and exercising general awareness, you can reduce the danger.

Use caution when downloading files.

There’s no space for complacency—even files from reliable sources can contain viruses. You must develop the practice of scanning all files before downloading them and never open files from senders you are unfamiliar with.

Using Data Encryption on Phishing and Social Engineering

These days, data communication is so commonplace that some people overlook the need for security. It is more important than ever to employ the most innovative tools and to safeguard any devices used for these transfers to keep all data transfers as safe as possible.

Making Use of Physical Security on Phishing and Social Engineering

Don’t neglect physical security procedures, even though cybersecurity needs to be a top priority. Through simulation, you may witness how easy it is for a hacker to access a system through an unattended device or how simple it is to pass through an unguarded building entry point.

Sustaining Distance Security 

Cybercriminals may gain access to the organization’s network if employees use public Wi-Fi for work-related purposes. Among the subjects covered by simulation exercises should be home network security, using VPNs safely, and public hotspot safety procedures.

Preventing Malware Threats

A fantastic technique to teach staff members to minimize malware threats is through phishing simulation. They will learn through these exercises what not to do, which can improve their chances of staying safe in real life.

Taking Charge of Intriguing Activities

Ultimately, social engineering and phishing simulation exercises will instruct staff members on what to do if they fall victim to a cyberattack. Besides spotting attacks, there will be guidelines on reporting verified incidents.

Has your data been hacked? Download our Infographic, “The Top 10 steps to take if you think you have been hacked.” If you’d like, call us and we can talk about how we can customize data security for your unique needs!

Phishing Scams and Social Engineering Tactics

Posted on by Mike

Social engineering is a popular term in the cybersecurity industry. What is it, though, and why are companies so terrified? It is a type of hacking that induces victims to provide information by tricking and manipulating them. Social engineering tactics have caused a lot of devastation and millions of dollars in losses for firms globally, so corporations have reason to be concerned.

One of the most prevalent sorts of attacks today is phishing. It has earned its success because it scams potential victims using tried-and-true social engineering techniques.

What are these Social Engineering Tactics, and how do hackers use them?

Let’s look more closely.

Plays on the emotions of people.

  • People are more likely to act impulsively when terrified, anxious, under pressure, or interested. Hackers rely on this instinctual response to trick victims into disclosing personal information before they consider it. It will already be too late by the time they have collected themselves and grasped the danger.

Creating credibility.

  • People are quick to believe in organizations that have a good reputation. This encompasses both professional contacts and organizations like banks or suppliers. Hackers can establish a trustworthy image that potential victims will almost certainly believe in by impersonating these organizations.

Social Engineering tactics – Content personalization.

  • Hackers can create a web of deceit to catch their targets using a wealth of information available in the public domain. It goes beyond merely addressing a target by name. They can bring up a recent concert they went to or a favorite dining establishment. They make a potential victim feel at ease, which lowers their guard and makes them more open to attack.

Using webpages that appear alike.

  • Hackers frequently send out links to fake login sites that are exact replicas of real ones. Telling you to reset your password because it is about to expire is a common ploy. They provide a link to a fake website where you must submit your information. Although everything appears legitimate, a closer glance at the URL reveals it is a phony link.

Creating scenarios that make people panic.

  • People rarely think clearly while they are panicking. They will take impulsive actions to leave the dangerous situation as soon as possible. You can bet on them to click the link right away if the hackers threaten to cancel their account if they don’t. This is one of their common social engineering tactics to use against you.

Deliberately spelling words incorrectly.

  • The common typos and bad grammar found in phishing emails are deliberate. It is their method of avoiding spam filter’ detection. Despite these obvious mistakes, many people are easily fooled since they are not as alert as virus scanners.

Attacking during special occasions and holidays.

  • During these times, there is a widespread sense of enthusiasm and involvement, and hackers use this to increase the effectiveness of their phishing assaults. Aligning the attacks with these occasions creates the appearance of legality, increasing the likelihood that the targeted person may fall prey.

Malware that spreads through attachments.

  • Most systems can detect and block malware, but if they introduce dangerous files into the system via phishing, your network defenses will be helpless to stop it. Malicious attachments can do harm after installation, including deleting your files and stealing confidential information.

Acting like senior executives is one of their social engineering tactics.

  • You don’t ask questions, and you promptly provide any confidential information that your boss demands. After all, a good employee does that, don’t they? Exactly! For this reason, hackers have used a novel strategy to gain quick access to corporate data: they pose as top executives.

Inventing an excuse.

  • Because the hackers need to gain the trust of their target, these social engineering tactics require a lot of effort and perseverance. They gradually win the victim’s trust, so they may eventually get more information from them.

Final Reflections about Social Engineering Tactics

Since you now understand how hackers employ phishing to practice social engineering tactics, you are prepared to defend yourself from such an assault. However, it is still possible to fall victim despite all knowledge and protective measures. We’ve made an infographic titled “The Top 10 Steps to Take If You Think You’ve Been Hacked” to help with this. This tool is helpful if you believe hackers have compromised you. Right here, you can download it.

Call us for additional details about social engineering or other cybersecurity challenges. We will provide everything you need to strengthen your defense against online threats.

Educating Your Staff to Spot Social Engineering

Posted on by Mike

One of the newest techniques used by hackers to gain private data is social engineering. This method uses human psychology to gather data rather than simply attacking a system. When you consider it, this approach is quite brilliant because it avoids having to go through strict network security. Someone will literally hand the information to the hackers on a silver platter if they can trick even one employee, and they will take over the organization’s entire system. That is why it is important to train your employees on how to spot social engineering.

Businesses need to be aware of how social engineering can seriously jeopardize security. Over 90% of data breaches, according to reports, result from social engineering. Of these cases, 54% involve phishing scams. The good news is that you can avoid most social engineering threats by training your staff members.

Common Social Engineering Methods

There is a lot to cover when teaching employees how to spot social engineering. Discussing the most common strategies would be a reasonable place to start so that staff members can identify and steer clear of them.

The most popular technique is phishing because it is simple to carry out. It produces incredibly fruitful outcomes, at least for the hackers. This technique involves sending emails that trick recipients into clicking a harmful link or disclosing private information without realizing it.

Pretexting is when a hacker manipulates a pretext or made-up scenario to acquire the victim’s trust as part of a more complex social engineering attack strategy. The hacker might trick the victim into disclosing information for something in the quid pro quo attack. Another common way to spot social engineering involves tailgating or piggybacking, in which the victim unwittingly grants the hacker access to a secure site.

Training of Employees is Important to Spot Social Engineering

As you can expect, if your staff wasn’t properly trained or aware of the hazards to spot them, these social engineering tactics would be considerably simpler to implement. The $100 million phishing fraud on Google and Facebook is an example of the immense harm that could result. A group of hackers repeatedly sent phishing emails from 2013 to 2015 to Google and Facebook workers, instructing them to deposit money into phony accounts. Through this technique, they could gain more than $100 million.

Now, even if your company doesn’t bring in that much money, you can still fall victim. Hackers attack small firms on a large scale these days. Every employee of your company, from customer service representatives to top executives, might be a target, so you need to implement training across the board.

Best Practices to Spot Social Engineering for Employees 

There are various ways to teach your staff about how to spot social engineering. A thorough training session works best in a traditional classroom setting, whether in person or online. But a single seminar is not sufficient, which is why we also advise frequent refreshers.

Unannounced phishing simulations are excellent for gauging how much a worker has learned. You’d be astonished at how many individuals perform admirably in theory but cannot recognize the truth when it is staring them in the face in their email. Your staff will learn to be more watchful going forward after experiencing being bitten during a simulated attack.

Final Reflections

If everyone in the organization is adequately aware of the risks and knows what to do if an attack is successful, organizations can attain a high level of protection against social engineering. Along with the many training techniques you’ll use, we strongly suggest that you download our infographic, “The Top 10 Steps to Take If You Think You Have Been Hacked.” Post it on the bulletin boards in each department by printing it out. Ensure that every member of your staff receives a copy as well.

Call us if you’d like to learn more about how to spot social engineering and how to prevent becoming a victim. We can keep your business safe from the prying eyes of cybercriminals and bring you up to speed on the most recent preventive measures.

The Top 8 Phishing Scam Tactics and How to Spot Them

Posted on by Mike

Since the late 1990s, phishing has been a popular hacking technique. You’d think everyone would know how it operates and how to prevent becoming a victim. That is regrettably not the case for these Phishing Scam Tactics. The number of casualties has increased. Over 300,000 people were hacked in the US alone in 2022, resulting in damages of more than $52 million!

Phishing scams have changed with time, which is the issue. Hackers are becoming better at duping unwary victims, but they also have easy access to contemporary technology, which helps them advance their phishing techniques.

The Top 8 Phishing Scam Tactics

At all levels of your organization, you must raise awareness of these frauds to secure your data and your business. Following that, here are the top 8 warning signs of phishing scam tactics and what you can do if you see them.

Fake Emails

Many people open an email when they receive it from a reliable source. Hackers are aware of this and use it for their phishing scam tactics. Even though the email address is completely different, they use a trusted sender’s name to make it appear the email originated from a reliable source. Verify that the sender and the address are the same before opening an email.

Feeling of Urgency

You might become alarmed if you get a message threatening to delete your account or take legal action against you. You might hastily click on the links in the email because of your stress. You would, of course…Avoid getting sued or in trouble with the law! When you get such emails, be cool. Before acting, make sure the information is accurate.

Malicious Links as a Phishing Scam Tactics

Despite being one of the oldest phishing techniques, malicious links are still powerful. These connections may pique someone’s curiosity naturally, while other times they offer a reward. The hackers win when fake emails persuade the unknowing victim to click the link or open the attachment. Once more, double-checking before clicking is a good idea.

Asking for Passwords

Have you ever received a request for your password or other private account information in an email from your bank or credit card provider? Never! Legitimate businesses do not request this kind of information from customers. If you ever receive such a request, block it and disregard it for this is a few example of phishing scam tactics. It’s almost certain that they are hackers attempting to access your account.

Incorrect Spelling and Bad Grammar

Even though many hackers these days have improved their language, misspelled words, and typos can still identify many phishing emails. These emails may make you grimace, but they can seriously harm your company. As a result, you shouldn’t even try to respond or correct your grammar.

Individualized Content

If they address you by your name and title, it sounds like a legitimate email, right? Hackers are highly inventive. That sort of widely available information is easily accessible to them. If you support their efforts, they will access much more. Therefore, be sure to confirm the message’s origins before taking any action.

Phony URLs are used in Phishing Scam Tactics

Another phishing scam technique that has a very high success rate is the use of bogus website URLs. Hackers will invite you to check in after sending emails that appear to be from a reputable source, such as a service provider, and include a link to what seems to be the provider’s actual website. Of course, you submit your login information, thinking you are at a legitimate website, and inadvertently give them full access to your account.

Unwanted Emails

Be immediately suspicious if you receive an email out of the blue that causes you concern since it’s probably a scam. Avoid doing anything they urge you to. Never even respond. Check the email’s source to see whether it is authentic.

Final Reflections

Encourage any employees who experience phishing scam tactics to come forward so that others can be extra cautious. It may not be too late if someone suspects someone has hacked them. There are steps you can take to lessen the harm. Our “The Top 10 Steps to Take If You Think You Have Been Hacked” infographic lists the procedures. By clicking here, you can get it immediately.

Call us to learn more about enhancing your company’s cybersecurity and safeguarding it from phishing schemes. We’ll be pleased to schedule a free consultation for you!

The Seven Mobile Security Threats to Your BYOD Policy

Posted on by Mike

Bring Your Own Device, also known as BYOD, is an emerging trend in the workplace that encourages workers to use their own personal electronic devices, such as cellphones, laptops, tablets, and so on, for business purposes. This policy contrasts with the conventional practice of relying solely on the tools and resources provided by one’s employer for professional purposes which can also have Mobile Security Threats.

 

The Bring Your Own Device (BYOD) policy offers several benefits, including increased flexibility in remote work, improved work-life balance, and lower overall costs associated with equipment. However, doing business in this manner presents a few issues, most notably about your security.

 

When employees use the same device for all their dealings, it could present various mobile security concerns that the organization must address in the BYOD policy. Those mobile security threats could compromise the company’s data. The following are seven of the most significant dangers, followed by the solutions we offer.

 

Mobile Security Threats – Theft of Electronics

If devices are lost or stolen, there is a possibility that individuals or organizations may get unauthorized access to sensitive information saved on the device. To prevent this, there needs to be a method that can wipe data entirely and remotely from the device in question.

 

Infection with Malware

Malware can cause a data breach, and a slew of other security issues, very quickly. You can avoid this for your organization if you equip all privately owned devices with dependable and up-to-date antivirus software to protect against the threat of malware infection.

 

Unsecured Wi-Fi Encryption is essential for ensuring the privacy and safety of one’s data, and as a result, most workplaces and private homes have implemented it. However, this is not the case with public hotspots. Use a virtual private network, or VPN, to protect your data if you need to connect to an untrusted network.

 

Mobile Security Threats – The Practice of Phishing

When compared to using a computer at work, people’s behavior on their personal mobile devices is noticeably more relaxed. Because of this, many people are vulnerable to falling prey to phishing scams. The staff would benefit from constant reminders to help establish a natural caution in them.

 

Outdated Technology

Some employees are not huge tech nerds and would not be in line the second the newest iPhone was available. Many people will continue using outdated technology even after it becomes technically impossible. That they are so economical is admirable, but using antiquated technology puts business and personal information at serious risk. In your bring-your-own-device (BYOD) policy, you might stipulate that all devices that workers want to use for work must undergo regular and necessary upgrades.

 

Apps That Could Be Dangerous

Many users frequently install games and other applications that may not be secure on personal smartphones and laptops. These applications will ask for permissions, some of which could endanger the data on your device. Because of the potential for such dangers, the BYOD policy must forbid both the installation and usage of applications that are not confirmed safe.

 

Data That Is Not Encrypted

When sending electronic correspondence from a computer at work, it automatically encrypts the data to ensure it remains private. Your data is at risk of being compromised on public hotspots and some home networks because these may not have enough encryption protection. You can avoid a breach by requiring encryption on all corporate data before sending it out into the world.

 

Developing a Bring Your Own Device Policy for Mobile Security Threats

Creating a BYOD policy for the first time can be overwhelming. For example, the mobile dangers we have described above are just some of the potential concerns you would have to deal with, and we are sure that you would think of even more as you move along the process.

 

We highly recommend that you use the BYOD policy template that we have developed expressly for this aim. Using this template will ensure that you do not overlook any significant aspect of the policy. The document covers permitted devices, security specs, prohibitions, and punishments. This document is both exhaustive and succinct. Feel free to modify it as needed to meet your security goals. Call us now if you need additional help!

Why It’s Important to Have Cybersecurity Insurance

Posted on by Mike

The importance of cybersecurity insurance measures cannot be overstated. The transition of organizations into a digital environment coincides with an increase in the sophistication of online attacks. In the past, hackers would target large, high-revenue corporations because these businesses both had significant amounts of money and important information. However, over forty percent of recent cyberattacks were aimed at small enterprises. Even more concerning is that just 14% of these small enterprises are prepared to defend themselves against such an assault.

 

Purchase of Cybersecurity Insurance is an investment that is both prudent and essential

Businesses are already taking increasingly strict precautions to protect their operations from the dangers posed by Internet activities. Despite your best efforts, malicious software and ransomware could still infiltrate your system, and unauthorized access to your data could still occur. You must purchase a solid cybersecurity insurance policy for your company if you want to shield it from the myriad of consequences that can result from attacks like this.

 

Even though cybersecurity insurance cannot stop or reverse the effects of cybercrime, it can assist your company during the recovery process if an attack happens online.

 

Reduce the Risk of Monetary Losses with Cybersecurity Insurance

The costs associated with dealing with the fallout of a cyberattack might be significant. Your company could suffer a loss of millions of dollars because of the attack, depending on how severe it is. You will pay for services such as damage control, damage prevention, and legal representation. A comprehensive plan can cover these costs and a great deal more.

 

Cover Losses Incurred During Downtime

Again, the speed with which you can get your company back on its feet will be directly proportional to the severity of the crisis. You may get by until your company has fully recovered with the help of insurance while it is rebuilding or when operations are stopped.

 

Fill the Void in Your General Liability Insurance Coverage

When shopping for a plan for general liability insurance, many owners of businesses make the mistake of assuming that this protects them against cyberattacks. However, this is rarely the case. Even though standard plans might provide some coverage, that protection is rarely sufficient. A standalone cybersecurity insurance policy will provide you with the most comprehensive coverage available for your company.

 

Help with Recuperation

Today, many cybersecurity insurance policies offer more than just cash help. Many service providers offer a comprehensive recovery package that contains services such as legal representation, damage control for public relations, and computer forensics. You can get each of these services from a different supplier; however, why put yourself through the hassle when you can get them all from the same location?

 

Cost-Effective Solutions with a High Level of Protection 

Insurance companies will typically offer relatively affordable premiums to customers who have an effective cybersecurity strategy in place. The purpose of this is to encourage businesses to place a higher priority on cybersecurity and to develop improved methods. If you want to take advantage of our lower prices, it is in your best interest to increase the amount of protection you have as soon as possible.

 

Methods That Prove to Boost Online Safety and Security

As most of us know, there are many approaches to improving cybersecurity in the workplace. First, you need to provide frequent training for your staff members. This is because a lack of understanding is still the most common factor that allows hackers to penetrate computer systems. You should also install multi-factor authentication, safeguard your networks, and maintain continuous updates to any anti-malware technologies you use.

 

Policy for Users to Bring Their Own Devices

Bring-your-own-device policies, often known as BYOD policies, can boost the cybersecurity of your firm. Implement these policies in the workplace. For utilizing privately owned devices to access company data and other uses of the device while at work. This policy should clearly outline the duties of your firm and the individual as well.

 

You may use our BYOD Policy template, which you can get by clicking right here, to ensure that your company’s BYOD policy contains all the components. This can be done by ensuring that you use our template here. You are free to change it in any way you see fit to bring it into line with the activities and objectives of your organization.

 

A Few Parting Thoughts For Cybersecurity Insurance

A company must take all the steps to improve its cybersecurity. However, regardless of how formidable your defenses may be, you should never allow yourself to become complacent. The best thing you can do to safeguard your company is to be sure it has a cybersecurity insurance plan. Call us now if you have additional questions about Cybersecurity Insurance.

Why Is It So Difficult when Managing Passwords?

Posted on by Mike

Emailing, shopping, banking, and many other activities are among the many transactions completed online. However, before you can act, you need to go to the proper website and log in using your name and password. Only then will you be able to log in. It’s a relatively standard procedure, but with the ever-increasing number of online services that demand passwords, it can be a challenge when managing these passwords.

 

The Complicated Nature of Managing Passwords

It is common knowledge that passwords are required to guarantee that no one other than yourself will access your online accounts. However, sometimes they can become hard to manage, particularly when you already have so many that you need to remember, and I’m sure this is something we can all relate to, right? The following are some of the many reasons managing passwords is so difficult.

 

There are too many passwords for us to remember.

Because so many people are prone to forgetting their passwords, many write them down on paper or in a digital file when managing their passwords. Others have a lot of faith in their capacity to remember things, so they store their passwords in their heads. If you only use a password once in a great while, likely, you likely won’t remember it when the time comes to use it again. However, if you use it frequently, it will serve you well.

 

Alterations Made Constantly to Passwords

Altering your passwords regularly is a necessary step in maintaining the safety of your online accounts. With all the changes, it is easy to become confused if you forget that you have already changed the password and the one you recall was the previous one. This is especially true if you forget you have already changed the password.

 

The Need for Passwords That Are Both Unique and Complex

Many individuals are lazy and use the same password for all their online accounts since it is easier than trying to remember many complicated passwords. It is simply impossible to overstate the risks involved in this activity. When even one of your accounts is compromised, the hacker will have a field day since they will access all your other data and use it to their advantage. Therefore, you must require unique passwords for each of your accounts. This step is necessary for ensuring safety, but it makes password management more difficult.

 

How Applications for Managing Passwords Can Be of Assistance

There is something that you can do to improve the management of your passwords while also increasing the level of protection they provide. We accomplish it by making use of a trustworthy password management solution.

 

These days, when managing passwords, password managers are more accessible than ever before; selecting the right one requires careful consideration. Consider the level of protection they provide. Consider also how simple it is to use their products, and how well they meet your requirements. You may find a list of the five best password managers for businesses in our blog post from the previous week, which you can read here.

 

You can also use contemporary technologies, such as biometric login and multi-factor authentication. These technologies help improve data security while enhancing the user experience.

 

Login using biometric data

Using biometrics to log into an online account is a contemporary alternative to entering a password. This biometric data method eliminates the need for a password. It will confirm your identification using a physical characteristic particular to you alone. The most popular biometric identification is a fingerprint scan. There are some applications that use facial recognition, voice recognition, iris matching, and other forms of identification besides fingerprints.

 

Authentication based on multiple factors

This way of logging in requires additional confirmation besides the standard password before granting entry into an account. This significantly increases the level of protection when managing passwords.

 

Managing Passwords is becoming increasingly important in digital estate planning.

Biometric login and multifactor authentication are beneficial for increasing a company’s level of security. We must also take into consideration that placing complete dependence on these methods might create new challenges. An example would be gaining access to the company after the owner has passed away.

 

Let’s imagine that the person who inherits it ends up in possession of computers, gadgets, and other such things. If each account is set up for biometric login using the owner’s characteristics, gaining access to your business accounts may be a challenging endeavor. Considering this, despite the availability of these innovative solutions, it is still necessary to start managing passwords.

 

We cordially invite you to watch our Cloud Webinar on Digital Estate Planning and why Password Management is a must. Managing passwords is another way to increase the security of information related to your company.

How Do MSP Mergers and Acquisitions Impact Your Business?

Posted on by CT Team

We have seen a significant rise in the number of MSPs and solution providers selling out to larger corporations. They are also selling to hedge funds in recent years. This trend of MSP mergers has been going on around the world. With this trend, there is no sign that it is going to turn in a different direction anytime soon.

Why Are Big Corporations Buying out MSP Companies?

Large IT companies are actively gunning for mergers or acquisitions because the MSP business is currently highly lucrative. The market is currently at a value of $223 billion and said it will reach $330 billion by 2025. Corporations recognize the strong growth potential of the MSP industry, but they don’t necessarily want to start a new company themselves. Indeed, why build one from scratch when MSP Mergers can find many MSPs out there willing to sell?

Also, these corporations are banking on the illusion of choice and keeping their current customers. They take control of multiple MSP companies while retaining their original names. People mistakenly believe that they have a wide selection of MSPs to choose from when, in reality, the majority of them belong to the same conglomerate.

Take Accenture, for instance. In 2023 alone, they will have acquired 8 different IT provider companies. It appears to the public that these MSPs are industry rivals. In truth, they are all bringing in revenue for Accenture. Trailing at a close second is The 20 MSP, which has already acquired seven MSPs so far this year.

Why Are MSP Owners Choosing to Sell Their Companies?

From the MSP owner’s perspective, selling the company could indeed be the best course of action considering the situation at hand. The most common reasons that they cite for doing so are burnout, health, retirement, partner disputes, or shifting to a different line of business.

It does seem like a win-win situation for everyone until you take a look at how the situation impacts the client companies of the MSP that has just been bought. Yes, we are talking about businesses like yours. Where does it leave you if a sizable corporation suddenly acquires the MSP you had chosen to work with?

Effects of MSP Mergers on Client Businesses

IT companies have their valid reasons for selling out; oftentimes, it has to do with money. But regardless of what good it might have done for them, the acquisition typically leaves their clients in the lurch. Of course, the big corporation promises to take care of all the clients in the same way that they have always been taken care of. But the truth is that everything will change, and not necessarily for the better.

As a business owner, you rely heavily on your MSP to take care of your digital operations. You’ve probably been staying with them all this time because they provide excellent service. You are happy with the IT guy working for you, and their location is near you.

But what if you wake up one day and everything is different? It is pretty normal for service quality to drop after an acquisition. You might go from being a highly VIP client to just one of the hundreds or even thousands.

With the change of management, you will likely have a completely new IT team that did not work with you before. But what’s even worse is that these professionals are usually miles away from your physical location and can only serve you remotely. They can go to you but their travel expenses will go on your bill. That is something you do not want at all with MSP Mergers!

What to Do If Your MSP Is Getting Bought Out By MSP Mergers

There are two main choices you can make once you find out your MSP is up for acquisition. One is to stay with them and hope things settle down quickly. In all likelihood, the new owners will want to hear your feedback because, after all, they want to keep your business. Take this opportunity to air your concerns and give them time to make adjustments to better serve your needs.

Now, if things have changed to the point that you are no longer satisfied with the service, you can always switch to a new provider. Despite the continuing M&A trends in the IT industry, there are still plenty of local MSPs that have not sold out.

Check out a few and see what else is out there. Here at our company, we would be very happy to help you sort things out, discuss your needs, and maybe even provide you with the services that you are looking for. Check out the MSPs that big businesses have acquired just in 2023. It will surprise you if you find out where these large corporations’ locations are. It’s no wonder why small businesses are suffering from acquisitions. 2023 MSP Acquisitions

And if your agreement confuses you and want to know how you can get out of it, call us today, and let’s talk!

Get in touch.

Fill out the form and our team will get
back to you as soon as we can!


  • 888-339-5694
  • 2635 Camino Del Rio South, Suite 306
    San Diego, CA 92108