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The Seven Mobile Security Threats to Your BYOD Policy

Posted on October 17, 2023October 17, 2023 by Keenan Budd

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Outdated Technology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 October 4, 2023July 8, 2024 by Keenan Budd

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 September 21, 2023September 26, 2023 by Keenan Budd

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 August 28, 2023September 11, 2023 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!

Tag: Technology