Are You Doing Your IT Due Diligence?

Are You Doing Your IT Due Diligence?

The words “due diligence” may make you think of a courtroom drama on television. Surely, only lawyers must worry about things like that. Not so fast! Due diligence is something your business should be doing, particularly in IT. Are you covering the basics?

Due diligence is about taking care of business. It extends to how you manage your technology. You may think you are immune to a data breach or cyberattack. This is not the case. Cybercriminals can target you regardless of business size or industry sector. These bad actors seek out smaller targets because they are often easier to breach because often, they have not made the necessary investments to protect themselves.

If this is you, do not feel bad. Often, it is because most businesses' core skills have nothing to do with IT. They simply lack guidance. For others, technology is a scary thing, and they would rather not think about it.

Due diligence as it relates to cybersecurity is not an option for some.  Depending on your industry, you may have compliance or regulatory laws to follow. Some insurance providers also expect a certain level of security standards from you. If you are unfortunate enough to have a breach but have not followed the requirements of your policy, they may not pay out! The costs associated with these cyber incidents are increasing. Do not leave your business vulnerable.

What Due Diligence Involves

Technological due diligence requires attention to several areas. You will need to show the following:

1. Each staff member has a unique login. Mandatory complex, distinct passwords. Educate your people to protect these (e.g., not write them on sticky notes that sit on their desktop).

2. You have a process in place for regular data backup. We recommend a 3-2-1 backup strategy. Keep three copies of your business data. One on the cloud with the other two on different devices (e.g., on your local computer and on a backup USB drive).

3. You patch and upgrade security right away. Ignoring those reminders and waiting for the next release is risky.

4. You have installed antivirus software. You will not know your computers have a virus until it is too late. Be proactive.

5. Email filtering is in place. These filters help protect your business from spam, malware, phishing, and other threats.

6. You have installed firewalls to watch and control incoming and outgoing network traffic.

7. You limit user access. Instead of giving everyone full access, set conditions based on roles and responsibility. This approach minimizes vulnerabilities.

8. There are physical security procedures to limit access to your environment. You might install security cameras, fence perimeters, and RFID scanning in protected areas.

9. If your company lets employees use their own phones, laptops, or tablets, have a Bring Your Own Device (BYOD) policy in place. Installing mobile device management software is useful (and we can help with that!)

10. You test your security. You cannot take a set-and-sit approach to securing your network, systems, and hardware. Ongoing testing will help you find risks, repair vulnerabilities, and protect your business.

It can also help you to prove that you are being diligent by:

--keeping copies of any training provided and employee handbook messaging.

--updating your organizational chart.

--vetting contractors/vendors before granting them access.

--having a policy in place that denies access to any former employees.

--inventorying all devices on your network.

Due diligence protects your business. Meeting these security standards can also cut costs and preserve your brand reputation. Demonstrating vigilance helps you avoid hefty compliance or regulatory fines and fight litigation. If there is legal action, you will also want to prove the efforts you made. So, be sure to document all IT security efforts.

Due diligence does not have to be difficult. Our experts can help you. We figure out the best preventative measures for your organization. Some business risks will pay off, sure, but when it comes to your IT, caution will have the best results. Call 877-686-6642 to learn more!

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