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Cloud

The Modern Office: Why a Strong IT Foundation Should Be the Basis of Your Business

August 27, 2019 by securewebsite

Business builds itself from the ground up. Your business internet technology (IT) is no different, which is why your foundation is so critical. The modern office revolves around having strong IT in place. From communications to automated business processes and protecting valuable company data, your foundation is imperative to your organization’s ability to not only thrive but survive.

Without a strong foundation, your business risks everything: Being hacked; watching valuable data be stolen, held ransom, or destroyed; and experiencing crippling downtimes when systems fail to function properly, costing your organization money every minute your employees can’t function. A strong foundation will help protect your company from experiencing such destructive problems and allow it to keep functioning smoothly even through inevitable IT bumps in the road.

What is Foundation in IT Terms?

At ORAM Corporate Advisors, we view the foundation as the nuts and bolts of your operation. We consider that to be your firewall, your switches, and your wireless access points. This is the core of your network. These are the things that have to be 100 percent reliable all the time and what literally makes the world go round for your business.

Firewalls as a Gateway

The gateway in and out of your network is your firewall. When it comes to the network security of the modern office, the firewall is your first and best line of defense. It monitors and controls both incoming and outgoing traffic on your network based on the security rules set for it. What rules are employed depends on how your company operates, the security it requires, and industry regulations. The best firewalls are “smart firewalls” which are capable of configuring, monitoring, and managing network traffic on the fly.

An average firewall is a hardware device or even a software program that is a barrier, a wall, between your systems and network and the internet. Its purpose is to limit unnecessary communication between your computer network and the internet.

Smart firewalls offer much to your business in terms of additional protections. Today’s modern office should employ smart firewalls as they include:

  • Antivirus, Antimalware, and Limited Spam Filtering
  • Deep Packet and Stateful Inspection
  • Packet, Adjustable Content, and “Default to Now” Traffic Filtering

The IT experts at ORAM can configure your smart firewall to maximize its protective benefits for the specific needs of your business. This ensures there are no gaps or vulnerabilities in your security settings that could allow a hacker to infiltrate your business system. We also take the time to keep your firewall current and patched.

Switches: Your Business Connection

Network switches are another important piece of your modern office network. This is the link, if you will, that connects devices on your network. It’s the switches that receive, process, and forward data moving in and out of your network so that it arrives at its proper destination.

The most common switch among business networks is one that handles Ethernet traffic. That is to say, the switches that connect your business to the internet. Without such switches, your business would become a proverbial island and your business data from email to invoicing may not function properly.

In addition to traditional managed switches, “smart switches” are an evolving option that can offer some management and security. They can be cost-effectively used in large networks as a supplement to managed switches or can be included as the main infrastructure in smaller networks. Smart switches can allow your business to segment its network into workgroups by creating a virtual local area network (VLAN).

Wireless Access Points

Wireless local area networks, or WLAN, are created by using a wireless access point device. These WLANs are typically found everywhere from homes and restaurants to modern offices and large buildings. They provide wireless access to the network for devices such as laptops, printers, and cell phones in a designated area such as your office. This enables your employees and customers to stay connected on a secure wireless network that is isolated from the core network in your office. You can also open or limit wireless guest access to specific applications or times of the day.

Recommended Foundation Hardware

The foundation of the modern office is also cloud-based. This allows you to know more about what your end users are doing and how traffic is flowing. Traditionally, you’d have to look back through logs and that is a time-consuming process. The modern office can’t afford to sit idle while the IT staff sifts back through logs to determine where things went wrong. Smart firewalls, switches, and access points provide real-time information through cloud-based systems that allow us to make the best decisions with up-to-date information.

At ORAM Corporate Advisors, we recommend using Cisco Meraki for all of those devices because it’s one of the most reliable cloud-based systems to date for business networks. This is important because it is the foundation of your business. User management, connectivity, and the like don’t matter if you and your employees can’t even access the internet.

Without a strong foundation, your business floor will drop out from beneath you. Commerce, trade, and services for your organization will come to a screeching halt without a strong foundation. Though integrating a strong network can be costly, it is the most important investment you will make to keep your business moving forward.

Ensuring a Strong Foundation

There are several key components to developing and maintaining a strong IT foundation in the modern office. Those include the following:

  • Make sure your firewall(s), switches, and wireless access points are current, up-to-date, and are running the latest firmware.
  • The hardware needs to be current as well. Is it still being supported and warrantied by the manufacturer?
  • Can your network handle your current business needs and still allow room for growth?

For everything you do or that your employees do, your foundation is key. By ensuring that you have the major components from your firewalls to switches and wireless access points in order, you can keep your business moving forward smoothly at all times. If you need assistance with building or bettering your business foundation, contact ORAM online or call us today at (617) 933-5060.

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The Modern Office and Security: What you need to know about protecting your business and its data

April 16, 2019 by securewebsite

One of the most critical components of the modern office environment for a healthy, scalable business infrastructure is security. It is the cornerstone of your IT for it protects the other components that your company needs to keep thriving and surviving in the modern marketplace. Today’s business security entails much more than just an anti-virus program and requires some pre-planning as well as a regular investment of time.

This blog covers the most important things every business should know about security. Additionally, it includes what business leaders should consider to best protect their organization, data, and clientele. As you will see, having the right security in place can make the difference between growing your business and shutting its doors permanently.

Secured Access

Every business should have secured access in place for both internal and external users on its network. As a modern company, both internal and external users will be accessing your data whether its email or highly-sensitive information not meant for prying eyes. This is important because data falling into the wrong hands can cost your business its reputation, revenue, and even its livelihood.

According to the 2018 Data Breach Investigations Report by Verizon, 73 percent of breaches were perpetrated by outsiders. This means your business data needs to be protected as much as possible and that external access to your network should be limited and monitored at all times. Hackers are always looking for a way to infiltrate networks. Phishing, ransomware, and malware were among the top means used by nefarious outsiders to access business networks in 2018. Of those breaches studied, 90 percent were motivated by monetary gain or strategic advantage (i.e. business espionage).

While you may believe that your business is too small for anyone to care about hacking its data, think again. A report by USA Today shows 61 percent of cyberattacks are aimed at small and medium-sized businesses. The same piece reported that a whopping 60 percent of small businesses close their doors for good within six months of an attack so it’s clear why security is so imperative to business survival in our modern society.

Though most breaches occur due to external sources, insiders can be just as dangerous to your business. Whether due to simple user error or something more insidious such as a disgruntled employee or cyber espionage, the aforementioned Verizon report concluded that 28 percent of breaches involved internal actors. Of those breaches, 12 percent involved privilege misuse. That’s why we always recommend implementing the practice of least privilege. This means allowing access to data only to those who require it to fulfil their job duties.

Email Security

Email is the bread and butter of communication for most modern offices. The use of email for both internal and external communications is a necessity for today’s businesses so securing it effectively is imperative. The issue is that it is also a major point of entry for many attacks.

A blog by CSO from IDG shows that 92 percent of malware is delivered by email. In addition, the blog stated that the average ransomware attack (which often occurs via email) costs a company $5 million. The same blog also stated that phishing attacks is one of the most common methods of email malware infection.

There is email and network scanning software available to help protect your business. At ORAM Corporate Advisors, we recommend Mimecast for email protection. It is a terrific solution to help organizations prevent email-borne ransomware as well as protect against the associated downtime and data loss such attacks can cause. ORAM recommends Mimecast because it “safeguards employee communication and reduces risk with targeted protection, data leak prevention, and enforced security controls.”

Mimecast, which I mentioned above for email and network scanning, is also an excellent solution for data loss prevention. Its data loss prevention solution scans all emails and file attachments and identifies potential leaks using flexible polices based on keywords, file hashes, pattern matching, and dictionaries.

Another piece of modern technology you’ll want to have in place is multi-factor authentication. Multi-factor authentication is a security system that requires more than one method of authentication to verify a user’s identity. This can range from requiring passwords that must periodically be changed by legitimate users to requiring a one-time PIN provided via smartphone for access. It adds an extra step for employees to access your network but it will help ensure your business’ data security.

In addition to software, we also recommend that employee training become a regular event. Every business should offer employee training during the onboarding process and at regular intervals throughout the year (every six months) to every employee. They should be trained not to click on email attachments or to follow links in emails from unknown or untrusted sources. Employees should also be taught to verify emails with links and attachments with a trusted source before opening them if something comes into their email that they weren’t expecting. While this training can take some time, it can prevent a costly breach later on.

Manage Your Network

While securing access to your network is important, managing your network is even more imperative to keep business operations running smoothly. Your network houses your most critical data while supporting the daily workflow and processes of your business. That means maximizing uptime, optimizing network capacity and utilization, and ensuring its protection.

There are a great deal of pieces that comprise your network and all of them need to be addressed on an ongoing, regular basis. Start with a network technology assessment and auditing. This will tell you where your network is in terms of optimization and data security. By assessing where your network is now and taking a full audit, you will be able to tell where your strengths and weaknesses are to tweak it to work at full capacity for your business needs.

In addition to regular assessments and audits of your network, you will need to plan ahead for storage, disaster recovery, business continuity, and more. Here are some of the things that go into managing a business network:

  • Email Continuity
  • IT Asset Tracking and Reporting
  • High Availability Services
  • Cloud Solutions
  • Network Design, Implementation, and Support
  • Data Assessment, Analysis and Recovery
  • Security and Monitoring Services
  • Workflow Assessment and Optimization

Up-To-Date Security

Your business should also have up-to-date technology security in place. You will want to ensure that your company has installed intrusion prevention software on all of its data networks to keep hackers from getting their hands on your information. You can check to ensure you have such software in place during the audit process.

The intrusion prevention system we use at ORAM is Cisco hardware that scans on a network level. It scans everything going into and out of your network to ensure that your network traffic is safe. This could catch someone maliciously trying to access your internal network, bad email attachments, and other threats.

In addition, you will want to put together policies for your employees that protect your business. Ensure you have a solid computer use and data loss prevention policy in place so employees know exactly when and for what purposes they can use their company devices. Make it clear what sites they should not visit and what the repercussions are for visiting non-work related sites on business devices.

You’ll also want to have a password policy in place so employees are not using the same passwords for multiple accounts or old passwords that could leave them at risk of being hacked. Passwords also need to be strong so encourage your employees to develop passwords that use letters (both lowercase and capital), numerals, and special characters. There is even software available to prompt your employees to change or update their passwords over time. You may even offer your employees a password manager so they can easily recall their passwords.

Many enterprise businesses are also moving to the cloud. Not only does this allow for greater flexibility for your employees, but it can offer greater data security. When you save both to your local network and the cloud, you have your data backed up. This is ideal in the event of a disaster and will get your business up and running again with less downtime or the worry that valuable information can’t be recovered.

Don’t Forget Your Physical Security

Remember that all data is not digital. Whether you have data files stored in locked filing cabinets or your HR employees are printing personally identifiable information (PII) during tax season, the physical security of your business is just as important as its digital security. You don’t want someone walking out with printed files or sifting through your garbage to steal information.

ORAM recommends that all businesses have a clean desk policy. This means requiring that all employees keep their desk clear of papers, notes, and other information that could lead to a breach or loss of information if it were to fall into the wrong hands. When they are not as their desk, employees should have a clean desk since everything should be put away, hopefully under lock and key.

Businesses should also limit physical access to certain areas such as file storage areas, server rooms, and other places where information is stored. If an employee doesn’t require that access to do their job on a regular basis, they shouldn’t have access. Such areas should be locked with limited persons possessing keys for access. We also recommend adding video cameras at data rich entry points to protect against a physical breach. This small addition will let administrators know who accessed the area(s) and when they did so which will help in an investigation.

Finally, you’ll want to ensure that all data is properly disposed of. Shred all hard copies before tossing paper information and consider hiring a disposal company that handles this type of waste. Don’t leave such waste out on the curb for anyone to take. Ensure the company will come in to gather paper for disposal. In addition, make sure that valuable paper data isn’t thrown into the recycle bin but is shredded before being thrown out. When it comes to cyber espionage, dumpster diving isn’t unheard of.

Have a Plan

Every business should also have a written information security plan (WISP) in place. It should include everything from regular IT audits to employee training. There are many mistakes that businesses make when it comes to backup that are completely preventable. Your WISP will outline effective administrative, technical, and physical safeguards specific to your organization to help prevent such mistakes. It will also define security measures for your business, protect against anticipated security threats, and unauthorized access. The WISP for your business will put safeguards into place to protect your data. It will also help you and your employees know exactly what to do and who to contact if disaster strikes.

If you need help with securing your modern office or want more information about building stronger security for your business, contact ORAM today at (617) 933-5060. Our experts are always here to assist you in bettering your business and data security.

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The Biggest Backup Mistakes Businesses Make

March 22, 2019 by securewebsite

Companies rely heavily on technology for their day-to-day operations – from customer service and ordering to manufacturing and accounting. Consider the technology, from hardware to software, your business uses to keep it moving forward every day. Now imagine what would happen if something went wrong and it stopped working. Whether a virus has paralyzed your operating system or a hacker has infiltrated your network, could you recover quickly to keep your business functioning? How will you recover lost data files crucial to your daily operations?

Disaster scenarios are not anomalies. Unfortunately, it happens on a regular basis and can have serious implications for businesses. This is why backup is so imperative to today’s business operations. While you may be thinking that you’re covered because your business has data backup, you might be surprised to know that this may not be functioning the way you think it is. There are several mistakes modern organizations make when it comes to data backup that every business owner should know about how to stay on top of their business backup.

Know What You Need

According to a piece in Small Business Trends online, more than half (58 percent) of small businesses are not prepared for a data loss. The article goes on to show that 140,000 hard drives fail in the U.S. each week. That’s right. Each week. Furthermore, it states that 60 percent of small to medium businesses that lose their data shut down within six months of the loss.

“On average, small companies lost over $100,000 per ransomware incident due to downtime,” according to an online article by CNN Business. “For one in six organizations, these attacks caused 25 hours or more of downtime.”

Businesses need to understand the massive impact system failures, regardless of the cause, can have on their operations. One of the first things business leaders should do to properly prepare their backup and disaster recovery (BDR) plan is ask themselves the following questions:

  1. What data is mission critical to my business? Consider customer records, inventory, accounting, etc.
  2. Where is that data stored, which systems run those applications, and how is it currently being backed up? Think about where business critical data is being stored, how often it is being backed up, and if your company regularly tests its backup systems.
  3. How much data can my business afford to lose and how much downtime can it handle without long-term consequences? The answer to this question is your recovery time objective (RTO). How long can your business go without being able to process sales, manufacture products, provide services, pay employees, invoice clients, etc.? How quickly do you need to be able to rebound from such a disaster to prevent a loss of revenue, clients, and reputation?

The answers to these questions will help you outline the backup and disaster recovery needs specific to your business. Your IT manager should be able to answer all of these questions. If you don’t have an internal IT manager, a professional third-party IT vendor such as ORAM Corporate Advisors can help you formulate and implement a BDR plan that works for your business.

Cover Your Cloud

Another big mistake people make is not backing up what they have stored on the Cloud. The Cloud is not just some empty space where things are stored. It is actually a third-party storage option. In other words, instead of storing things on your own server, your things get stored on someone else’s server.

You need to ensure that you don’t forget to back up your Cloud email, storage, and files. I would not trust a third party to maintain that data for me. At ORAM, we recommend Backupify as a terrific back up option for everything you have on the Cloud.

Though you have stored all of this information on the Cloud, backing up that data is important for a variety of reasons. First, you may need to back up that information to meet industry standards or government regulations. You also want to be prepared in the event your business is attacked by a virus, ransomware, or other hack. Additionally, there are disasters that can unfold such as earthquakes, hurricanes, fires, and others that are beyond your control that can negatively impact your data. Internal threats such as disgruntled employees can compromise data that is imperative to your business as well by simply deleting it. Backing up your software as a service (SaaS) avoids, or at least reduces, the impact of such devastating crises. 

Testing, Testing, Testing

One of the biggest backup mistakes people make is not testing their backup systems. Businesses will install applications or programs and let them go to work. They fail to define what exactly is being backed up and then they never test it.

For example, consider some of the online services businesses use such as Carbonite. Back in the day, Carbonite didn’t back up their QuickBooks files. People would install the software on their computers and think everything was backed up but, lo and behold, it wasn’t. Databases, like QuickBooks, were not getting backed up because the file was constantly in use by other software, therefore, they weren’t able to take a snapshot to back it up.

To date, some backup programs like Carbonite don’t backup everything you may need to have restored in the event of a disaster scenario. While some software is very good at backing up common files such as documents, photos, and spreadsheets, they can fail to backup less-common file types such as secondary files or files larger than 4GB. When it comes to backup, this could put a real damper on your business operations should the worst happen.

Backup testing should be fully automated so as not to pull human resources away from your business operations. The automated system should test backup and restoration services for the following:

  • Virtual Machines
  • Applications
  • Databases
  • Individual Files

Ideally, your automated backup testing should occur each time your system is completely backed up though this rarely happens. Backup testing should happen on a regular basis not only to ensure that backup is happening as it should but also that it can handle the additional data your company is creating as your business expands.

Additionally, testing should do more than just check that your data is being backed up. It should also test your recovery so you have information about the length of time you can expect to be down if your system is struck by disaster. This allows you to be specific with your clients, partners, and others about when they can expect your systems to be functional again rather than giving an arbitrary message that your system will be up and running again “soon.”

Backup Everything You Need

Another thing I would say is a backup mistake people make is not taking a full snapshot of their environment. As an example, for a long time people did file-based backup. They simply backed up the files on their computer. In reality, you don’t want to backup just the files on the computer.

Using an old-school analogy, you want to put the tape in the VCR and hit play. That’s what we call a snapshot. We say, “Ok. This device has failed. Let’s do a restore to a point in time and then we can just go from there.”

In the era of ransomware, crypto viruses, and other threats to business operations and data, you want your business to be able to be back up and running as fast as possible. Whether it’s a server or a computer, you need to be able to hit that VCR play button for a certain point in time. This allows the business or the person to move forward as fast as possible.

This environmental snapshot is important. Statistics from World Backup Day, which occurs on March 31 each year, shows one in 10 computers is infected with viruses each month yet 30 percent of people have never backed up their data. This statistic alone demonstrates the importance of having automated backup software such as Mozy working on a regular basis to protect your business.

How can these mistakes be avoided?

The best way to avoid these common business backup mistakes is to ensure you have proper procedures in place that meet the specific requirements of your business and that they are functioning properly. Confirm that your business network is backing up weekly and consistently test a full restore of your systems to ensure that everything is backing up, so you never have to worry. Check to ensure that your data is not only being backed up regularly and backing up everything, but be sure that your recovery plans are functioning smoothly as well.

Be sure to do your homework when looking for the best backup and recovery plan for your business. PC Magazine put together a piece in January, “The Best Cloud Backup Services for Businesses for 2019” with a full chart of backup software options in the Cloud. The chart compares various software with ratings for everything from price to encryption in transit and regulatory compliance.

Check with your internal IT manager or consult with a third-party IT vendor such as ORAM Corporate Advisors to make sure you have the right processes and procedures in place. This third-party consultant can also help you with regular testing to make sure your network is backing up as it should and that your recovery system is also functioning effectively and efficiently. They can make software recommendations based on the unique needs of your business. For many businesses across several industries, such testing can also achieve regulatory compliance requirements as well.

If you have questions about developing a backup and disaster recovery plan, implementing it, or for testing, please call the experts at ORAM at (617) 933-5060 or contact us online. Schedule your free initial consultation today to achieve your IT goals within your budget.

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Moving Enterprise Resource Planning Applications to the Cloud

March 15, 2019 by securewebsite

Many small businesses use a variety of applications from QuickBooks to Salesforce to handle the needs of company operations. Though larger businesses can use the same mishmash of applications, most have moved to a single Enterprise Resource Planning (ERP) application that meets the same needs but in a single application. With such an excellent resource available, most companies are now focused on moving their ERP apps to the Cloud. 

Keeping Up with the Times

As technology has grown and we have become more mobile as a society, the ERP software is moving to the Cloud for improved access and speed. Hosting the ERP in the Cloud makes the app more user-friendly for a dispersed work environment. In other words, by hosting its ERP application on the Cloud, a company can share the benefits of the application with a distributed workforce. Individuals and departments in different locations such as remote employees, branch offices, and salespeople in the field can access the ERP quickly and effortlessly.

While ERP applications are big software that can be cumbersome and are often cost-prohibitive for small businesses, larger businesses have realized the many benefits a single application has to offer. For starters, an ERP can fully integrate all aspects of sales, production, human resources, accounting, and more under one application. Rather than deal with eight to 10 applications to handle business like most small companies, large companies can work with a single ERP application.

Additionally, ERPs build workflows that eliminate jobs as the various modules can “talk” to one another to complete multiple phases of a project that once took many people. For example, the manufacturing module of an ERP can communicate with the accounting module to signal that a product has been finished so the client can be automatically invoiced. With processes locked into place, it requires fewer people to handle operations meaning companies can save money on manpower.

Benefits of Moving ERPs to the Cloud

Savvy small businesses transitioned their apps to the Cloud long ago in the form of Software as a Service (SaaS). This allowed small businesses to work more nimbly while adapting faster to changing technology and our modern mobile society. The ERPs of the past often slowed larger companies down when it came time for such technology and working world adaptations due to their sheer size, much like turning the Titanic versus a tugboat.

The good news is that as larger ERPs have improved over the years, there’s been a push to move them to the Cloud. No longer do companies have to bog down their networks and limit employee access by hosting their ERPs locally. Today, moving business ERP apps to the Cloud offers many benefits including:

  • Faster Access to Business Systems
  • Ease of Management of the ERP
  • Simple Access for a Remote and Distributed Workforce
  • Allows for Unhindered, Seamless Growth

Transitioning to the Cloud

At ORAM, our advisors caution companies to avoid biting off more than they can chew when transitioning their ERP application to the Cloud. We highly suggest moving one department at a time after serious transitional planning. The order of operations and departments that are moved to the Cloud will depend on the unique needs of each company.

The biggest mistake businesses make as they transition their ERP apps to the Cloud is the lack of accounting for on-premises and legacy systems. Most companies have older systems in place they still utilize that need to be able to connect with the ERP once it is moved to the Cloud. For example, if a company has a large envelope printer from 1984 it still uses, that legacy system needs to be able to communicate with ERP to continue business operations without interruption.

The way to best approach moving ERP applications to the Cloud is with much discussion, forethought, and planning. You’ll need to look at your overall business workflow and operations. Employees on the front lines in each department can offer insights into processes, procedures, regular deadlines, and operations that may impact your transition plan.

In addition, consultants like those at ORAM can offer assistance with proper planning. Should your business require assistance in transitioning its ERP application to the Cloud without negatively impacting your business, the experts at ORAM Corporate Advisors can help through our consulting services. Call us today at (617) 933-5060 or visit us online.

Filed Under: Blog Tagged With: accounting, Applications, branch offices, business integration, Business operations, business procedures, business processes, Business systems, Cloud, cloud computing, Cloud Consulting Services, company operations, Continued business operations, Continued communication, Deadlines, delivery, departments, Ease of management, eliminate jobs, Enterprise Resource Planning Applications, ERP access, ERP benefits, ERP for dispersed work environments, ERP for distributed workforce, ERP software, ERP speed, ERP without interruption, ERPs, Faster Access, Hosting ERP in Cloud, hosting ERPs locally, human resources, improved employee access, improved workflow, Information technology, IT, IT Consulting Services, IT service providers, Legacy systems, limited employee access, manufacturing, medium business, mobility, modules, Moving ERPS to the Cloud, networks, Older systems, On-premises systems, Oram, Oram Corporate Advisors, production, Quickbooks, Remote access to ERPs, Remote employees, SaaS, sales, Salesforce, salespeople, Seamless growth, SImple ERP management, Small business, software, software as a service, technology, Titanic, Transition plan, Transitioning ERPs to the Cloud, Transitioning to the Cloud, user-friendly ERP, Workflow

The Modern Office and Business Continuity

March 7, 2019 by securewebsite

What you need to know to protect your company

The modern office requires that all components of your business environment work together harmoniously to ensure the best use of your IT infrastructure and seamless scalability as your business grows. One of the major components of the modern office is business continuity. This is an imperative piece of a solid IT plan for every company regardless of size or industry.

Business Continuity                 

When IT professionals discuss business continuity, they are generally referring to a proactive approach of having the right processes and procedures in place to ensure mission-critical functions continue to work properly in the face of a disaster or while a business is recovering from one. When it comes to business, there are many moving parts that still need to continue operating smoothly whether your company experiences a devastating fire or a nasty data breach.

The IT and business statistics are shocking. In the last five years, one in three organizations were hit by a virus or malware attack, according to DataCore, and more than half of companies (54%) experienced downtime that lasted more than eight hours. That’s a full day of work lost! While DataCore shows only 35 percent of outages are caused by natural disasters, 45 percent of outages are operational and another 19 percent are due to human error. These site outages can cost businesses thousands of dollars in lost revenue and restoration costs for every incident. Gartner, Inc., a global research and advisory firm, estimates that only 35 percent of small and medium businesses (SMBs) have a comprehensive business continuity plan and the financial loss for every hour of downtime can reach into the thousands even for SMBs.

Business continuity requires comprehensive planning before tragedy strikes an organization to allow them to overcome long-term challenges that would otherwise stop them in their tracks. With prior planning, business continuity ensures your entire business returns to full functionality as fast as possible following a crisis. That means everything from vital employee records and payroll to stored data access and email.

Think Cybersecurity

One of the first steps in a complete cybersecurity plan is business continuity. To start, you’ll want to ensure your business employs the best technology to combat the latest threats from ransomware and malware to other types of breaches. This means updating protections such as antivirus and firewalls, using multifactor authentication, and engaging your employees in ongoing, meaningful cybersecurity training.

Cybersecurity plans, which are typically handled internally by the chief information security officer (CISO) in larger businesses, should be designed as a living document that can expand and adjust when necessary to meet the changing needs of your business. Small to medium enterprises often don’t have a dedicated CISO so they can outsource this responsibility to organizations like ORAM Corporate Advisors.

Written Information Security Plan

As part of your business continuity plan, you’ll need a written information security plan (WISP), which also happens to be a requirement of many regulatory bodies, especially for businesses who contract or subcontract with the government and financial institutions. While government regulations vary from state to state and with the federal government, in Massachusetts this written document should contain, “certain minimum administrative, technical, and physical safeguards to protect” personal information such as names, driver’s license numbers, social security numbers, and financial account numbers. You’ll need to check with both your state and federal government to determine which regulations impact you as well as any industry-specific regulations. This is another place a CISO or third-party IT vendor can help.

Your WISP should designate an individual responsible for maintaining your IT program. This may be a business owner, CISO, or even a trusted advisor such as ORAM. It will also need to identify any reasonably foreseeable data security risks as well as protect and restrict access to electronic data that may include personal information for your employees and/or clients. This plan should also outline the oversight of third-party service providers and ensure those providers comply with local, state, federal, and industry regulations as well.

Because your business and its processes, risks, and procedures are unique, your WISP will be very specific to your organization. It cannot effectively protect you from culpability in the event of a breach or loss if it doesn’t address the particular risks of your company or if it includes practices that have not been put into practice in your business. Through coordination with your IT team and/or third-party IT vendor, you will need to identify “reasonably foreseeable risks” to ensure your WISP includes the practices your business adheres to.

In addition to IT functionality, your WISP will also address the non-technical operations that will still need to work in a disaster situation to keep your business moving forward. For example, it might address the accounting measures you have in place to keep employees and bills paid and clients invoiced if the worse should happen.

What Crisis Looks Like

Stolen laptops, lost cell phones, and an employee clicking on a phishing email that infects your entire network. These are all crisis that can and often do occur in the business world. Think of all the critical information that can be lost, stolen, or even held ransom. What do you do and who do you talk to? This is where planning ahead and having a WISP helps. It will outline how to respond to a variety of incidents.

Lost your company cell? Your WISP will inform you of who to call to wipe the lost phone and deactivate it before serious damage can be done. Did your organization experience a data breach? Your WISP will have identified a data backup plan so that nothing is completely lost. Has a virus made accessing email impossible? Your WISP will have determined if your email is stored locally, in the cloud, or both to decide how to get it up and running again fast. This thinking ahead with recommendations by your IT team or third-party vendor will help ensure you have continued access to business email which is the lifeblood of most commerce today.

Recovering from Incidents

One of the best things your WISP will do is outline policies and procedures for how to react and recover in a crisis situations. Regardless of the disaster that strikes, your WISP will point you to who to contact and how to react. Part of your WISP will address incident response and crisis management to minimize the impact when things do go awry, as they inevitably do.

Incident response and crisis management involves having the ability to maintain critical business functions during a disaster scenario. It also encompasses having plans in place for a rapid recovery from catastrophic incidents. If your business were to experience a flood, fire, or data breach today, would it be able to recover quickly and efficiently? Business continuity is all about having a plan in place that expects the unexpected and is prepared to handle it.

When it comes to IT and business continuity, the big question is, “How do you operate tomorrow?” If you don’t know the answer, it’s time to get a plan in place starting with an evaluation of the foreseeable risks your organization may face and a WISP to address them. Think of it as an insurance plan that also helps your business with regulatory compliance. When disaster strikes, your business’s IT team, CISO, or third-party IT vendor should have already given you advice. Hopefully, you have followed it. Then you know who you can call when things go wrong so they can tell you how to react to keep your business moving full-steam ahead.

If your company or organization needs assistance with risk assessment, developing a WISP, and planning for business continuity, call the trusted advisors at ORAM today at (617) 933-5060 or visit us online. Our experienced professionals are here to help and we are dedicated to partnering with small businesses to assist them in achieving success.

Filed Under: Blog Tagged With: business, business continuity, cell phones, Chief Information Security Officer, CISO, Cloud, comprehensive planning, cybersecurity, cybersecurity plan, data, data access, data breach, disaster recovery, driver's license, electronic data, email, Financial institutions, Gartner, government, human error, Incident management and resolution, IT, IT crisis, IT functionality, IT infrastructure, IT plan, IT professionals, IT vendor, laptops, lost revenue, malware, mission-critical functions, modern office, names, natural disasters, network, operational outages, Oram, Oram Corporate Advisors, payroll, personal information, phishing, processes and procedures, Ransomware, regulations, restoration costs, Risk assessment, scalability, security risks, social security number, Third-party IT vendor, Trusted advisors, virus, wipe lost phone, WISP, written information security plan

Threats to business cybersecurity and a strategy for resiliency

October 4, 2018 by securewebsite

Email security

Imagine going into work, settling into your routine, and realizing you can’t access your email. You try refreshing your browser, logging out and then back in again, only to realize something malicious has happened. You start to panic. You can’t work, don’t understand how this could have happened, and wonder what the cost to your business will be.

Email is arguably the most vital tool used in modern business. It helps us communicate with our customers, collaborate internally, and keeps the information we need to move forward flowing like the blood in our veins. Without it, the livelihood of our business is at stake.

What has become the lifeblood of today’s businesses, Cybercriminals are using to become just as successful. According to the report The State of Email Security 2018 by Mimecast, email is the main way hackers initiate attacks to defraud businesses such as phishing scams, malware delivery (such as ransomware), and impersonation. As a matter of fact, the report shows a whopping 90 percent of global organizations studied in the 2018 report described consistency or rise in the number of phishing attacks experienced in the previous year.

BEC and EAC Threats
The 2017 Internet Crime Report issued by the United States Federal Bureau of Investigation’s Internet Crime Complain Center confirms email is a major target of bad actors. The report shows business email compromise (BEC) is a huge trend. This sophisticated scam targets organizations that frequently work with foreign suppliers and/or businesses and perform wire transfers on a regular basis. A variation of the threat, known as email account compromise (EAC) specifically targets individuals who regularly make wire transfers.

The FBI warns that though some businesses report using checks rather than wire transfers, cybercriminals will very casually employ the method that your business typically uses to steal your funds so as not to draw attention to themselves. They do this by compromising your “legitimate business email accounts through social engineering or computer intrusion techniques to conduct unauthorized transfers of funds.”

Hacking and Spoofing
In 2013, the FBI’s report shows victims indicated the email accounts of Chief Executive Officers (CEOs) and Chief Financial Officers (CFO’s) were often spoofed or hacked.

When an email is hacked, criminals can intercept important messages and data. One example is Climategate. This occurred when email archives from the Climatic Research Unit at the University of East Anglia were copied by the thousands. The breach occurred just before the Copenhagen Summit on climate change. Skeptics used information from the stolen emails as grounds to argue that global warming was a scientific conspiracy.

Email spoofing, or impersonation, is the forgery of an email header so a message appears to have originated with someone other than the actual source. This is a common tactic used by cybercriminals in phishing campaigns and spam emails because employees with access to data and/or funds are likely to respond to emails from supervisors or clients. A bad actor may spoof the email header of a CEO and send an email to someone that often handles wire transfers within the company, demanding an immediate wire transfer to avoid an emergency situation. In addition, spoofing can also be used by bad actors to fraudulently invoice business customers for goods or services with the funds going directly to accounts they have set up in order to steal money from the pockets of your unsuspecting clients.

Attackers are becoming ever more clever in the way they deceive victims. With social engineering, cybercriminals are learning to target specific individuals in a company by impersonating them online. In the last year, nearly 40 percent of organizations have seen impersonations of “finance/accounts” personnel and 28 percent report C-suite executives as targets of impersonations. Another 25 percent of organizations reported impersonations of human resources staff. In total, 20 percent of respondents studied in the Mimecast report suffered a direct financial loss as the result of an impersonation attack.

Phishing by Numbers
Phishing is another form of email threat. Phishing occurs when someone sends an unsolicited email, text message, or telephone call that is purportedly from a legitimate company. Such phishing messages may request personal or financial information or even login credentials. An online article by TripWire reported that three-quarters of organizations experienced phishing attacks in 2017. This number held steady from the previous year.

A study by Dr. Zinaida Benenson, a professor at the University of Erlangen-Nuremberg who leads the “Human Factors in Security and Privacy” research group, demonstrated that 45 percent of people will click on a malicious link if it includes their name. In a second study where the recipient name was not used, 20 percent of people still clicked on the link. She suggested companies employ a “reporting” feature to flag suspicious emails or that utilize digital signatures to stop them before employees have a chance to get click happy.

Ransomware
Ransomware is a form of malware. It targets weaknesses by both security technology and human users. This malicious type of malware is typically delivered through vectors such as remote desktop protocols which allow computers to connect to one another across networks. Additionally, ransomware can also be sent through phishing emails that are sent to an end user resulting in the rapid encryption of sensitive data or files in a network.

Cybercriminals seize control of a business’s data in these ways and then hold it for ransom, often demanding large sums of money to restore access. Some cybercriminals even threaten to release proprietary information or data if a ransom is not paid within a given timeframe. Aside from that, the Mimecast report shows an average downtime three days after a ransomware attack which can cost your business even more money.

WannaCry, also known as WannaCrypt, was one of the major ransomware attacks in the history of IT. It affected several hundred thousand machines around the world bringing businesses from banks to law enforcement agencies as well as infrastructure companies to their knees.

Internal Threats
The Mimecast report also demonstrates that internal threats are also on the rise. Of the organizations studied, 88 percent reported internal threats caused by careless employees over the course of the last 12 months. To make matters worse, another 80 percent reported accounts had been compromised and 7- percent identified malicious insiders as a cause of internal issues during the same period.

Insiders have a distinct opportunity to wield emails. They can steal information and send it to outsiders or publish it for their own gain. This is where using the practice of least privilege can help protect your business.

Prevention is the Best Medicine
It’s been said that the best defense is strong offense. That is particularly true when it comes to cybersecurity. Just as you inoculate a child against disease with vaccinations, businesses should employ preventative measures to reduce the odds of an attacker getting in through their email.

Oddly enough, businesses have taken a more reactionary approach to cybersecurity and it’s costing them big time. Changes in data storage technology such as migrating email to platforms such as the Cloud or Microsoft Office 365 is leading businesses to oversimplify their security strategy. Business leaders believe they can save money and minimize the complexity of managing their cybersecurity by employing a defense-only model. This way of thinking falls short of providing the forethought and prevention the best security has to offer.

“Attackers are leveraging these same changes and are working in real-time to exploit gaps in your security program,” warns the Mimecast report, which predicts that 50 percent of organizations will suffer a negative business impact from an email-borne attack this year.

Education is Key
While email is unequivocally a major business tool, it can also be a major security threat. Of the organizations studied for the Mimecast report, “61 percent were hit by an attacker where malicious activity was spread from one infected user to other employees via email.” That is why cybersecurity awareness training is so imperative to a solid business security strategy, especially for business leaders.

According to Mimecast, nearly 40 percent of organizations see the CEO of their organization as a “weak link” in the cyber security chain. In fact, the study showed 31 percent of C-level employees have unintentionally sent sensitive information to the wrong person in the last year compared to 22 percent of other employees. This is due in part to corporate level employees having access to more sensitive business data than the average employee. Over the last 12 months, the report also showed 20 percent of organizations had C-level employees send proprietary data via email in response to a phishing email.

All employees should receive regular cyber security awareness training to prevent breaches before they can happen. While every employee needs regular training to keep up on the latest threats, this is especially true for C-level employees and those with access to sensitive data. You want to ensure there is security expertise at the leadership level of your business and the right training can get you there.

Cyber Resilience is Everyone’s Job
Implementing a solid cyber resilience plan is the responsibility of every employee. It doesn’t just fall to one person or department. Of businesses that have employed a cyber resilience plan, 80 percent feel prepared to fight ransomware and are confident that their sensitive data and files are properly backed up and encrypted, according to the report by Mimecast.

There are several steps to implementing a cyber resilience plan for any business based on the four dimensions of cyber resilience: Threat protection, adaptability, durability, and recoverability. Those steps include ensuring:

• The right security services are in place before an attack happens.
• A durability plan to keep email and business operations running during an attack or security breach.
• The ability to recover data and other corporate IP after a cyber incident or breach occurs.

Extra Tips
Here are a few more tips from the State of Email Security report to help close the security gaps at your business:

• Place cybersecurity into the function that manages overall risk mitigation for your business.
• Understand upper management sets the tone for company culture including security.
• Benchmark your security controls and risk management programs against similar businesses on a regular basis.
• Engage your security team on a regular basis to discuss your security program and requirements as well as the need for changes.
• Leverage internal marketing to communicate that security is everyone’s responsibility.

For more information on implementing a winning cyber resilience strategy for your small business, contact Oram now at (617) 933-5060.

Filed Under: Blog Tagged With: attack, BEC, breach, business, Business email compromise, business security, CEO, Cloud, cyber resilience, cyber threats, cybercriminals, cybersecurity, Cybersecurity Awareness, Cybersecurity Awareness Training, cybersecurity risks, data, data breaches, EAC, email, email account compromise, email security, email security tips, email spoofing, FBI, FBI Cybercrime Investigations, hack, hackers, internal threats, IT, IT tips, Microsoft Office 365, Mimecast, mitigate risk, Oram, phishing, Ransomware, risk mitigation, security breach, security controls, sensitive information, Small business, small business IT, spoofing, The 2017 Internet Crime Report, The State of Security Report by Mimecast, threats, Tripwire, United States Federal Bureau of Investigation, WannaCry, WannaCrypt

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