5 Cybersecurity Tips for Small Businesses and Nonprofit Organizations

Reputation plays an important role in the success of a company or organization, but a data breach can seriously damage an organization’s reputation. Internet security isn’t just for big companies anymore. Hackers often target smaller organizations, causing significant damage. Small businesses and nonprofit organizations need to protect their assets. 

Assess Your Risks

Every organization that connects to the internet, uses email or has any sort of information on their computer, can be at risk from cybersecurity threats. Your website and domain names may also be at risk from theft and data loss without some level of security. A thorough examination of the data your organization holds and the points of access that a hacker could gain access to or control of your systems is the first step to preventing such attacks. The U.S. Small Business Administration has several resources to help you identify and reduce your risks. 

Check Your Compliance Requirements

As you make a plan to approach your security risks, ensure your security complies with government regulations. Compliance breaches can put you at risk of fines and other financial losses if you’re subject to the requirements of HIPAA, FERPA, FINRA, and others. If your organization holds any kind of federal data, then you should also familiarize yourself with NIST 800-171 compliance measures. Many compliance guidelines include the steps you should take toward compliance and to remain in compliance as your organization grows. These guidelines may also help you improve your risk assessment and security measures. 

Back-Up Data

You should regularly back up important data in case of a cyber-attack or accidental data loss. Automated software that backs up your data to a cloud service can be the easiest way to maintain data backups, but cloud services do present some security risks of their own. Backing up your information to a server or hard drive that normally remains disconnected from the internet can be a safer way to preserve your information. You may even want to consider both options if the loss of your data could cause a lot of harm to the operation of your organization. 

Implement Security Software

There are many types of internet security software available for businesses and organizations. At the most basic level, your organization should have a firewall and antivirus software. The software is already installed on Windows computers, but additional security software is recommended. Message encryption software can protect the integrity of your email information. Depending on the framework of your website, protection may be included or you may need additional software to reduce the chance of a damaging attack. Finally, your organization may want to consider whether employee access to data through their cell phones is worth the risk of a breach, as breaches through cell phone use have been rising. 

Train Employees

Once your cybersecurity measures are in place and your data has been backed up, you should train your employees on how to use the secured systems. Strong passwords and other login information can also be an important step in increasing your organization’s security. An important process you should train your employees on is how to update your protection software and how often updates should be completed. You may also want to consider having a professional cybersecurity firm that can consult with you for risk assessment, implementation, and employee training. 

Cybercrime is a genuine threat for many companies. The FBI estimates that cybersecurity attacks cost the US economy billions of dollars each year. Any organization that relies on the internet can be vulnerable to cyberattacks. Taking precautions can prevent the compromise of your information and protect your organization from data breaches that lead to financial loss.

Is Technophobia Stopping You Improving Your Finances?

Some of us hate having to adopt new technology. It can mean having to give up the old familiar way of doing things in exchange for new and unfamiliar habits. As a result, some of us stay set in our ways out of convenience. However, in the long run, this can result in greater inconvenience.

When it comes to managing personal finances, digital technology has made it much easier to monitor our money and to make better financial decisions—and yet some of us still refuse to embrace this technology. Here are just some of the ways in which you can use digital technology to improve your personal finances (and why you shouldn’t be afraid of this technology).

Online banking

Online banking had made it possible to check one’s balance, move money, and even cash checks without having to travel to a physical bank or a cashpoint. It can save you time—and in some cases money. For instance, say you’re ordering food in a restaurant but have bills coming out and don’t want to spend too much—being able to check your balance on your phone using online banking could stop you overspending.

Online banking is incredibly secure. In fact, online banking apps and websites tend to have some of the strongest digital security available. Even if you do get hacked and money is stolen, your bank will likely have protection in place to reimburse you.

All banks nowadays have online banking options, and many are actively encouraging more people to bank online rather than visiting a branch (as well as canceling statements to save money and the environment). It may not be long until certain processes can only be carried out on the web.

There are even some banks that operate entirely online. Some of these online banks are able to offer much higher savings interest rates to customers due to not having the overhead of running physical branches.

Budgeting/saving apps

There are many apps out there that can also help with budgeting, as well as helping you to save up and invest money. These are worth taking advantage of.

Budgeting apps can be linked up with your accounts and can be useful for keeping your spending under control. If you’ve got bills coming and are at risk of spending too much money, such apps can alert you. They may also be able to help you with savings goals by telling you how much left you need to save up and what you can do to spend less.

Some apps can meanwhile help you build savings by contributing small amounts of money every time you make a purchase. This could include rounding up every purchase to the nearest dollar and putting the leftover change into a savings account. Some of these apps can even help you invest these savings.

Many of these apps are free, while others may only charge small fees. Having online banking and mobile payment set up may be necessary in order to use these apps. You can do your research online to help find the best budgeting apps and savings apps for your needs.

Online credit reports

You can also use digital technology to monitor your credit score. Knowing your credit score could help you when taking out loans or contracts so that you know your chances of being accepted (after all, getting rejected could harm your credit score in some cases).

There are many apps that can be used to track your credit score so that you can always check it. These apps may also be able to offer tips on how to improve your credit score. They may even be able to help you find loans with good rates that you are likely to be accepted for.

Automated trading software

For those that want to invest in stock and shares or get involved in forex trading, there is also digital technology out there that can be of use. A growing number of robo-advisors and automated trading programs now exist which pretty much play the role of an investment broker. The advantage of these tools is that they can offer unbiased advice (when using a human broker, you can never guarantee this). It could also cost you less than using a broker, although fees can vary depending on the software you use.

Some investors are a little dubious of putting their trust in a robot, while others assume that learning how to use this technology is difficult. However, such fears are generally unjustified. Automated trading software tends to be very reliable and many programs are easy to use. It is often possible to test such software – you may find that simulators exist to guide you or that there are walkthroughs on YouTube. By reading reviews, you can also get a good idea of which programs are for novice investors and which are for more serious investors.

Digital investment strategies

On top of helping to make many traditional investment strategies easier, the internet has also given birth to many new investment strategies. Some of these could be worth looking into if you’re an investor looking to broaden their portfolio—you could be missing out by sticking only to traditional methods. A few digital investment strategies include:

Cryptocurrencies

These are digital currencies such as Bitcoin and can be traded in a similar method to real currencies. Cryptocurrencies are constantly fluctuating in value—often at a greater rate than real currencies—which has made them a popular way of making a return fast. You can use cryptocurrency exchanges to buy these digital currencies. A number of guides on cryptocurrency can be found online.

Peer-to-peer lending

Peer-to-peer lending is a way of borrowing and lending money to other individuals online. A number of peer-to-peer lending platforms exist for this purpose and some may even allow you to set your own interest rates when giving out loans. It’s worth going through a recognized peer-to-peer lending site where you will often be offered protection if a borrower defaults on payments.

Domain names

A more unusual form of investment is domain names. Some domain names rise in value over time, making it possible to sell them and make a profit. There are sites set up specifically for buying and selling domain names. It’s worth doing your research in this form of investment before getting involved so that you know which domain names are most likely to make a return.

Online savers

As discussed with online banking, there are a number of online-only banks out there that offer high-interest savings accounts. If you’re looking for a low-risk form of investment, these online savings accounts can be a good option.

Online coupons/digital loyalty cards

Many companies offer discounts to customers in the form of online coupons and digital loyalty cards. Without embracing this technology, you may not be able to apply for such discounts.

Online coupons can be found on coupon sites. These could allow you to get discounts on anything from clothes to vacations. Joining up to these coupon sites is often free and you can apply to mail lists in order to receive constant news of promotions.

Digital loyalty cards meanwhile may be offered by certain retailers and come in the form of a mobile app. Every time you make a purchase you can scan the app and get points. Coffee shops and gas stations are a few examples where you may be able to collect points.

Comparison sites/apps

There are also a number of sites and apps that you can use to help you compare prices out there on the market. This can help you to find the best prices before you buy.

For instance, there are sites that can help you to compare the prices of flights or the price of car insurance. These are constantly updated so that you’re getting accurate price quotes (although it is sometimes possible to ring up directly and get better deals).

There are also apps that can help you to compare rates in your area for purchases such as food shopping, car repairs or even gas. These can be worth downloading to help you save money on purchases wherever you go.

Time to beat your technophobia?

Clearly, there are many ways to improve your personal finances by adopting digital technology. The key to success when adopting this technology is to do your research and to be patient. The research will help you to find the cheapest, the most effective and the most secure options out there. Patience meanwhile could be necessary when setting up such technology and learning how to use it. The earlier you get involved, the more time you will have to reap the benefits of this technology.