Cyber security is an important issue for every business, not just because of the potential financial losses that can result from a cyber attack. Cyber attacks are also an invasion of privacy and can expose sensitive data to hackers who could result in identity theft or other personal information being stolen. The following are four strategies to improve the cyber security of your business.

1) Conduct an annual risk assessment

Conduct an annual risk assessment in your business to determine what the likelihood is that something will happen and how serious a problem would be if it did. This helps identify high-risk areas so you can allocate more resources there or even close unnecessary doors until better solutions are found. Risk assessments can be particularly useful when it comes to complex systems. Some people assume that all cyberattacks happen online, but there are other ways hackers get access and move around your business’s network (like USB sticks plugged into insecure computers).

2) Create a robust password policy

The simplest yet most effective way to improve the cyber security of your business is by creating a robust password policy. A solid password should be at least eight characters long and contain both numbers and letters in order to make it hard for hackers to crack. It’s also important that you change them frequently because if someone manages to get one, they often use it across multiple platforms. Consult your IT support if you require some assistance with this. This is the simplest way to improve your business’s cyber security because all you’ll need to do is update how many times passwords need to be changed and make sure employees are following your policy.

3) Monitor employee activity

This is a simple step, but it’s one that gets overlooked by many companies. You don’t need to monitor employees 24/hr, especially if you have hired the right people for your business. However, having someone monitor employee activity on company devices occasionally will help you identify any suspicious behaviour as well as improve morale because staff feels like they are being trusted with their work-related online activities. If an incident does happen or comes close to happening, then at least this person would be able to detect such issues early enough before significant damage occurs in order to properly prevent them from truly becoming an issue further down the road.

4) Update software regularly

What’s the big deal with software updates? In short, they bring important security fixes to your business. Many companies delay their application patches because it takes time and effort for them to implement those changes across all of their devices. After a year or two, organizations often find themselves behind on critical software patches that leave gaping holes in each device’s cyber defence system. Leaving these vulnerabilities open means hackers can gain unregulated access into an entire network without detection – leaving you vulnerable every day until it is addressed. The cost of delaying patching could be as much as 15 million dollars per breach which leave thousands at risk! Cybersecurity professionals recommend making sure devices are patched at least once a month so if there is ever a hole found between updates, it won’t be open for long.

In conclusion, there are many benefits to taking steps to improve your business’s cyber security. By following these four ways, you can help make sure that hackers stay out of your network and keep all data safe from current and future threats.