3 Reasons to prepare a business continuity plan

3 Reasons to prepare a business continuity plan if you haven’t done so already

A business continuity plan is the blueprint you need during an emergency to keep your business running smoothly. If you don’t already have one, here are 3 key reasons why you should focus on creating one ASAP.

It helps retain clients
As a business, if you have problems functioning, it will definitely affect your clients. For example, if your servers are down or your supply-chain mechanism is affected or your delivery process breaks, you won’t be able to fulfill your promise to your clients. Even worse, in some situations you may not even be in a position to communicate about the crisis to your clients adding to their frustration. A business continuity plan addresses these issues beforehand and can help reduce client dissatisfaction.

Salvaging brand image and reputation
There are certain events that end up affecting only your business. For example, ransomware attacks, virus attacks, data leaks, etc., Having a business continuity plan that caters for such events can be a blessing in times of such crisis.

Minimizing revenue loss
A business continuity plan can minimize the revenue losses that occur as a result of a crisis that interrupts your business operations.

In short, a business continuity plan helps minimize the impact of the crisis on your client relations, your brand image and your revenue by equipping you with a plan to handle the situation better.

Business continuity planning: A must-have, not a luxury

Business continuity planning: A must-have, not a luxury

Business continuity planning is not an alien concept anymore. In recent times we have witnessed a lot of events that only serve to further intensify the need for business continuity planning. Examples include natural calamities like hurricanes, floods, wildfires, events like terror attacks or even pandemics like the recent Covid-19 outbreak.

While a business continuity plan cannot completely safeguard your business from all these events, it can certainly minimize the damage inflicted on your business. Top business consultants urge their clients to develop a business continuity plan as they consider it a part of the best practices for running a business. A business continuity plan can make the difference between survival and shutdown of a business during a crisis situation.

What is business continuity planning?
Business continuity planning is the process of creating a blueprint that helps your business respond and recover effectively from an unforeseen mishap. As discussed before, the unforeseen event could range from natural disasters to pandemics, or even accidents that affect just your place of business like a fire or even a cybercrime attack directed at your business in particular–basically, any event that can paralyze your business. A business continuity plan serves as a step-by-step guide that you can follow during an emergency to keep your business running smoothly.

True, a business continuity plan is not a sure shot method to survive a crisis, it won’t instantly eliminate the impact of the disaster, but it gives you the best chances of survival. If you are not sure of what a good business continuity plan entails , you can reach out to a reputable MSP to help you with the preparation and implementation of one.

Cyber hygiene: The key to your business’s good cyber health

Cyber hygiene: The key to your business’s good cyber health

We all know that basic hygiene is a must to lead a healthy life. Did you know that the same rule applies to IT as well? There’s something known as cyber hygiene that plays a key role in keeping your business healthy from the IT perspective. So, how do you ensure your business doesn’t fail when it comes to cyber hygiene? Here are a few tips.

Follow industry benchmarks and standards
Remember that if an IT practice has gained industry-wide recognition and adoption, it is because it certainly offers some benefits. Protocols like the HTTPS implementation, SSL security certificates, CIS Benchmark, etc., are examples of industry standards that you must follow to maintain good cyber hygiene. Following these standards enhance your cybersecurity quotient and also play a positive role in helping you win your customer’s trust.

Stronger IT administration
The role of an IT administrator is very critical in any organization. IT administration involves exercising control over most of the IT activities with a view to ensure the security of your IT environment is never compromised. Make sure your IT admin rules and policies are clearly formulated and covers everything including-

  • Clear definition of user roles
  • Permission levels for each user role
  • Restrictions regarding download/installation of new software
  • Rules regarding external storage devices
IT Audits
Conduct regular IT audits to spot vulnerabilities and gaps that may threaten the security of your IT infrastructure. During the IT audits pay special attention to-
  • Outdated software or hardware that is still in use
  • Pending software updates that make an otherwise secure software vulnerable
Fix what you can and get rid of what is too outdated to be made safe.

Password policy adherence
When it comes to cyber hygiene, passwords are the weakest link as often, people compromise on the password policy for convenience’s sake. Here are a few things to look into at the time of your IT audit to ensure your password policy is being adhered to.

  • Check if passwords are strong enough and follow the standards set for secure passwords
  • Discourage password repetition or sharing
  • Ensure multi-factor authentication, where apart from the password, there is at least one more credential, such as a secret question, a one-time password (OTP) sent to the user’s mobile phone, or a physical token or QR code, to verify and approve data access
Ensure basic security mechanisms are in place
As a part of your cyber hygiene check, ensure you have all the basic security mechanisms in place. These include
  • Anti-malware software programs
  • Firewalls
  • Data encryption tools
  • Physical security and access control tools like biometric access

Pay attention to what happens with obsolete data
How do you get rid of data you no longer need? Even though old data may not be of any use to you from the business perspective, a breach of that data can still hurt you legally. Ensure you get rid of old data safely. It is a good practice to deploy data wiping software and also create policies for the safe destruction of physical copies via shredding or other methods.

Strong cyber hygiene practices can keep your data safe from cybercriminals lurking out there. However, consistently following up and ensuring these best practices are being adhered to, can be taxing on your internal IT team. It may be a good idea to bring an MSP on board who is well versed in cybersecurity to assist you with cyber hygiene.