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Is It Time You Get an IT Security Assessment?

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Source: forbes.com

Conducting an IT security assessment is vital in identifying vulnerabilities, making recommendations, and reducing the risk of a costly data breach. These assessments evaluate your network, systems, and processes to determine whether they meet industry standards. Here is why your business should get an IT security assessment.

Why Should Businesses Get an IT Security Assessment?

Source: extension.harvard.edu

1. Identify Vulnerabilities

An IT security assessment will identify the security vulnerabilities of your business and offer recommendations to resolve them. This assessment will enable one to identify outdated hardware, software, and networking components that may be vulnerable.

Additionally, it will identify any workstation or server that may be infected with malware and systems with weak passwords.

2. Mitigate Risks

The assessment will offer recommendations to reduce risks associated with these vulnerabilities. Depending on the severity of a vulnerability, a business may need to upgrade hardware or software, update password policies and ensure patches are updated regularly.

To mitigate risks, it will also recommend security controls like firewalls, intrusion detection systems, and anti-malware software.

3 . Stay Compliant

Several bodies regulate standards to protect information and IT security. For example, the Payment Card Industry Data Security Standard (PCI DSS) governs how companies handle credit card information. If these standards are not met, penalties may be imposed. An assessment, however, will ensure that a company is in compliance and that systems are secure.

4. Competitive Advantage

Customers are becoming more aware of the importance of data privacy and security, and they expect businesses to have proper security measures in place. An IT security assessment can demonstrate its commitment to data security, setting it apart from its competitors.

5. Cost Savings

A data breach can result in significant financial losses, including the cost of recovering data, paying penalties, and legal fees. An IT security assessment can prevent such losses by identifying vulnerabilities and offering solutions early enough.

6. Business Continuity Planning

Business continuity plans (BCPs) are essential for ensuring that a business can continue to operate in the event of a security breach or other disaster. An assessment can identify critical systems and processes and develop a plan to ensure their availability during an incident. Doing this can also help minimize downtime and reduce the impact of a security breach.

When Should a Business Get an IT Security Assessment?

Source: london.ac.uk

The Federal Trade Commission recommends that a business get an annual assessment, but some businesses may need quarterly or monthly security scans. When deciding when to schedule an IT security assessment, consider the following factors:

1. The Size of the Company

Smaller businesses may not be as attractive to cyber attackers as larger ones, so they may not need assessments as frequently. However, a minimum amount of revenue would usually attract a malware or ransomware attack, and this amount can vary depending on the industry. As such, assessing the risks associated with the company’s size and revenue is important to determine when an assessment is necessary.

2. Changes in IT Infrastructure

If a business undergoes significant changes in its IT infrastructure, such as implementing new software or hardware, conducting an IT security assessment may be necessary. These changes can create vulnerabilities that were not present before, and an assessment can help identify and mitigate them.

Similarly, if the business undergoes a merger or acquisition, it may be necessary to conduct an assessment to ensure that the new system is secure.

3. Type and Amount of Data Involved

If a business has a significant web presence and processes protected information digitally, conducting regular IT security assessments is crucial. The more sensitive data a business handles, the higher the risk of a data breach, and the more critical it is to have frequent proper measures in place.

4. Employee’s Understanding of IT Security Practices

Employees not adequately trained on IT security best practices may inadvertently create vulnerabilities within the business’s network. Regular security assessments, however, can help identify areas where employees may need additional training and education to mitigate these risks.

Additionally, if new employees are hired, they should be trained on IT security practices before being granted access to the company’s network.

5. The Business’s Geographic Location

Some countries have stricter regulations regarding data privacy and security, and businesses in these countries may need to conduct more frequent assessments to ensure compliance. Besides that, businesses in regions with higher levels of cybercrime may need to conduct more frequent assessments to mitigate risks.

Types of IT Security Assessments?

Source: forbes.com

Regardless of your chosen assessment method, the methodology must meet the business’s needs and requirements.

1. Penetration Testing

Penetration testing involves simulating an attack on a company’s network to identify vulnerabilities that cyber attackers could exploit. This testing uses tools and techniques that hackers might use to compromise the system.

This type of assessment is crucial for businesses that handle sensitive data and want to identify potential weaknesses in their security systems.

2. IT Risk Assessment

IT risk assessments evaluate the risks to a company’s information and assets. It examines a business’s processes, systems, and infrastructure to identify areas of weakness and recommend security controls.

3. IT audit

An IT audit comprehensively reviews a business’s IT systems, processes, and controls. It examines the effectiveness of these controls and identifies areas where improvements can be made. This assessment is useful for ensuring that a company’s IT systems comply with industry standards and regulations.

4. Vulnerability Assessment

This assessment involves using automated tools to scan for weaknesses in a system or network’s configurations, applications, and operating systems. Once the vulnerabilities are identified, a report is generated detailing the risks associated with each vulnerability, and recommendations are made for mitigating them.

Vulnerability assessments are particularly important for businesses that have a significant web presence.

Bottom-line

IT security assessments are critical for ensuring a business’s IT systems are adequately protected from cyber attacks. It is, therefore, paramount to conduct them frequently to ensure that your security measures are adequate and address any potential weaknesses. Contact us today and learn more about how to secure your IT systems.