Security Practices You And Your Company Can Benefit From

Security Practices You And Your Company Can Benefit From

Every successful company and any kind of business has strict security practices. Without them, they wouldn’t be successful because they would fall victim to cybersecurity leaks and fraud that would ruin their revenue, customer relations, as well as reputation in the long run. This is why every company must have proper security practices, and here are some of these practices your company can benefit from.

Monitoring and security cameras

One of the first and most obvious security practices to make the company safe is to install surveillance cameras. No matter what business you work in, they should be as discreet as possible, and on top of that – security cameras are becoming more and more affordable. In addition to this, they often come in tandem with alarm monitoring services. Security cameras should be placed in strategic areas such as over cash registers, in sales areas, near expensive inventory, and near entrances. The employees should also be made aware of the new security installments. Having security cameras can not only protect the company from intruders but from malicious employees too. 

On the other hand, security cameras can be used to reward high-performing employees by helping identify all their hard work. The experts recommend that finding a local vendor to provide security consulting is the best bet, but if they include maintenance support as well. These security companies should also provide additional integrated technologies such as smoke detectors, cards entry options, and other things such as motion sensors. Security monitoring systems communicate with the local law enforcement and provide cellular systems with proper energy backups in case the power goes out, and often for a small yearly fee. 

Payment security

As far as payment security goes, three pillars make up a secure online payment process. These three factors need to be understood and managed by the companies, so they could create a simple and secure checkout experience. Furthermore, it will provide ample protection for all kinds of payment methods such as debit and credit cards, as well as alternative payment methods. The three factors that reduce risks during payment are security, compliance, and fraud. The security pillar is mainly focused on cybersecurity and will be covered in the next paragraph. In short, it protects customer data and makes the payment process protected from cybercriminals. 

The second payment security pillar is compliance. Companies need to understand what their duties are to ensure they comply with the requirements of PCI standards (The Payment Card Industry standards). A company that is PCI compliant processes, transmits, and stores credit card information in a secure environment. This standard (PCI DSS) was launched back in 2006, and ever since there have been many services that offer this kind of protection to companies throughout the world. Lastly, the third pillar of payment security is fraud management. High rates of fraud can result in having the credit card companies revoke the companies right to process payments, and needs to be taken seriously.

Payment security

Cybersecurity

The rapid progress of technology has created many and many solutions for businesses all over the world. At the same time, it has also created a much bigger potential for cyberattacks as well. Cyberattacks have become so common that most companies have protection from this kind of crime as a number one priority. To be more exact, almost half of all the companies in the world name cybersecurity as their top priority in their budget allocation. Further statistics show that almost a third of businesses in the US alone have suffered a data breach, which has made companies realize they need to address cybersecurity measures more seriously. 

In addition to this, it is also quite important to build a strong cybersecurity culture among all the employees because human error is the biggest risk in the workplace. Regardless of what the cause of cyberattacks is, every company should do its best to ensure a good cybersecurity program. The benefits of having this program are far greater than the fallout and risks of having to manage a cyberattack which can be so damaging for the company. Most of these attacks take a great deal of time to recover from, and almost half of all data breaches have resulted in significant costs. Lost revenue was not an uncommon thing to happen, too, which also impacts the company’s reputation. 

These security practices are crucial for a company to preserve its integrity, retain customers, and ensure that it doesn’t fall prey to cybercriminals, fraud, and other malicious means of extorting and damaging revenue and reputation. These are some of the few examples of how any company can benefit from proper security practices.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.