How to Effectively Manage Supply Chain Risks

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The advent of digital transformation has enabled businesses like yours to reap numerous benefits, including simplifying inventory management and order processing. Even so, this transition to technology also makes you more vulnerable to cyberattacks and data breaches. Consequently, any breach throughout your supply chain could have dreadful ramifications for your company. So, how can you ensure that your business is adequately safeguarded from such dangers?

Investing in security technology is essential to protect your business, but more is needed to ensure secure operations. The complexity of today’s supply chains makes it extremely difficult to find and mitigate risk factors.

When considering how to improve the protection of data flowing through your organization, you must recognize that cybersecurity and data protection are broad issues requiring both technical and human-based solutions. Every link in your supply chain should be considered when developing preventive measures and formulating corrective action plans.

Integrating supply chain security into corporate governance should be a priority.

Rather than sporadically dealing with supply chain risks, making them an integral part of security processes and regulations is essential. A solid security process will ensure that employees comprehend the need for coordination with external providers and know what safety activities to execute.

Supply chain cybersecurity strategy best practices include:

• Defining who is responsible for holding vendors and suppliers accountable

• Creating a security checklist for vendor and supplier selection

• Specifying how to evaluate and monitor suppliers’ cybersecurity practices and how often

• Setting up a mechanism for measuring performance and progress

Take compliance seriously

Organizations must take action to guarantee secure links in their supply chain, including compliance with various regulations. The defense industrial base, for instance, needs to follow the guidelines of the Cybersecurity Maturity Model Certification (CMMC). Additionally, other regulatory compliance measures such as GDPR, HIPAA, or PCI DSS need to be adhered to depending on the industry sector and point of focus.

To ensure your company follows all regulations, performing regular evaluations, creating necessary documentation, and using best practices is essential. Making it a requirement for vendors to also comply with these stipulations will help your organization stay up to date with its responsibilities.

Having a firm understanding of applicable laws is essential. It will not only bolster the safety of your digital infrastructure and data security but also guarantee that all staff members stick to the same rules. In addition, with regulations consistently in flux, it is vital to maintain an awareness of current industry standards.

Deploy comprehensive and layered security systems

When you rely on multiple vendors for services, anticipating security threats can be tricky due to the wide range of possible entry points. Consequently, having a well-structured, multi-dimensional approach to defense is essential for protection.

Layered security is a more holistic approach that protects each layer of your IT infrastructure with a different solution or method. So, even if one solution fails, you have others to fill the void.

Layered security, of course, is only as good as the people who maintain it. That is why your employees must be trained and tested regularly. They need to be able to identify potential threats and take appropriate action.

Adopt and enforce international IT and data security standards

Interacting and collaborating with vendors is an unavoidable part of modern supply chain operations. Often the process brings a substantial amount of data exchange, which frequently includes delicate customer information such as medical details, Personally Identifiable Information (PII), and financial data. Maintaining the safety of information consists of the practice of securely cataloging it. Then, with continuous monitoring and real-time alert systems, these practices can mitigate risks and threats.

When it comes to data security, how does one guarantee safety? Adopting and strictly adhering to widely accepted standards like GDPR and HIPAA are key. These regulations ensure organizations keep tabs on sensitive information acquired, demonstrate proper documentation when called upon and possess effective security measures. Moreover, before selecting a software-as-a-service vendor, asking whether they are SOC 2 or ISO27001 compliant will ensure the vendor remains up to par with industry requirements.

The best way forward

At a time when supply chains continue to become increasingly interconnected, it is essential to be aware of and secure any vulnerable points in the chain. While the amount of dedication and effort needed for this task can often be overwhelming for businesses, that’s where an IT service provider like us comes in. We are here to help keep your data safe while ensuring compliance with necessary regulations through layered security measures. Contact us today for a free consultation!

To learn more, we created an infographic titled “How to Achieve Supply Chain Risk Management and Compliance” that you can download by clicking here.

Strategic Cyber Risk Management Using NIST CSF

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Protecting your important information and essential technology from cyberattacks is vital for businesses like yours. Your ability to survive and grow depends on how well your organization can handle cyber threats. That’s where cyber risk management comes in.

If your business has solid cyber risk management strategies, you can create strong defenses against cyber threats and lower risks without slowing down your business growth. It’s not just about making things more secure; it also ensures your business follows the rules.

In this blog, we’ll talk about the main ideas of cyber risk management and show you how combining it with a simple but powerful security plan can help you reach your goals successfully.

Critical characteristics of risk-based cybersecurity

Embracing risk-based cybersecurity allows organizations to channel their efforts and resources toward the most crucial risks. This approach is designed to minimize vulnerabilities, protect what’s most important to you, and empower you to make well-informed decisions confidently.

Here are the key characteristics of risk-based cybersecurity:

Addressing critical risks: Dealing with the most severe vulnerabilities first can help you strengthen your business security. 

Prioritized investment: By identifying and assessing risks, you can concentrate your investment efforts on areas that need your attention most. 

Risk reduction: By proactively identifying and neutralizing threats, you can reduce and minimize the potential impact of a cyber incident.

Frameworks for Managing Cyber Risks

Cybersecurity risk frameworks are like friendly guides for businesses, helping them make the most of a risk-based approach. Here’s how these frameworks can make your cybersecurity game stronger:

• No more guessing! Frameworks offer a structured way for businesses to check how good their cybersecurity is.

• They help businesses spend money wisely on fixing the most critical risks.

• Frameworks give the right tips to build robust security, which is essential for earning your customers’ trust.

These frameworks use controls that have been tested and proven to work. They help businesses put perfect security measures in place.

• Following frameworks also help businesses meet the rules set by the government and industry. It’s like a helpful map to stay on the right path.

NIST cybersecurity framework

Institute of Standards and Technology is like a helpful friend designed to empower leaders like you in safeguarding your business. It’s a user-friendly tool crafted by top-notch security experts to shield and fortify your digital assets.

Here’s how the NIST CSF supports a risk-based approach:

• It helps you figure out what’s most important to protect.

• It gives you a big-picture view of everything crucial for your business’s safety—people, processes, technology, info, and more.

• It helps you sort out which risks need attention first.

• It guides you to invest your resources where they can do the most good, maximizing their impact.

• It encourages keeping an eye on things and adapting as threats change.

Secure your future

Securing your business against cyber threats is vital for its survival and growth. Don’t leave the safety of your company to chance. Explore the option of partnering with an experienced IT service provider like us. Reach out to us today!

Download our infographic, “Assess Your Cyber-Risks in 7 Critical Steps,“ and strengthen your defenses against lurking cyber dangers.

3 Steps to Zero Trust Cybersecurity for Small Businesses

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The prevalence and complexity of cyberattacks have escalated significantly in recent times. As a result, even a minor oversight in your network security can set off a sequence of events that may have disastrous consequences for your enterprise. To prevent such occurrences, it is advisable to adopt a robust cybersecurity framework like the zero-trust approach.

The zero-trust concept maintains that users and applications cannot be trusted by default. Instead, it urges companies to authenticate every access while considering every user and application a possible risk. Zero trust is an excellent foundation for companies looking to establish strong cybersecurity measures. It can handle the intricacies of today’s work environment, including hybrid workplaces, and safeguard individuals, devices, applications, and data regardless of location.

It’s essential to note that despite how security vendors may promote it, zero trust isn’t a one-stop solution or platform. It cannot be acquired from a vendor and activated with a click of a button. Instead, zero trust is a strategic approach – a framework that requires a systematic implementation process.

Implementing zero trust: Three core principles to remember

If you are planning to adopt a zero-trust framework to enhance your IT security, it’s crucial to bear in mind three fundamental principles:

1. Assume breach and minimize the impact

Rather than waiting for a security breach to occur, adopting a proactive approach to cybersecurity by assuming risk is advisable. This entails treating applications, services, identities, and networks (both internal and external) as potentially compromised. Doing so can enhance your response time to a breach, minimize the damage, boost your overall security, and, most importantly, safeguard your business.

2. Limit access 

The misuse of privileged access is a leading cause of cyberattacks. To mitigate this risk, it’s crucial to restrict access to the minimum necessary level without disrupting day-to-day operations. Here are some specific security measures that organizations adopt to limit access:

• Just-in-time access (JIT): This approach restricts access to users, devices, or applications for a predetermined period. This limits the time individuals have access to critical systems.

• Principle of least privilege (PoLP): This approach grants users, devices, or applications minimum access or permissions required to perform their job functions.

• Segmented application access (SAA): This approach restricts users to permitted applications, preventing unauthorized users from accessing the network.

3. Continually verify

It is advisable to adopt a “never trust, always verify” strategy for security and constantly verify the identity and access rights of users, devices, and applications. To achieve this, deploying robust identity and access management (IAM) controls that define roles and access rights may be beneficial, ensuring that only authorized individuals can access relevant information.

Need help? We’re here for you. 

Implementing zero trust compliance on your own can be a challenging undertaking. Fortunately, partnering with an IT service provider like us can alleviate the burden. By leveraging our advanced technologies and expertise, you can establish a zero-trust framework within your business without recruiting additional talent or procuring additional tools.

Top 4 Co-Managed IT Myths

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When it comes to technology management, business owners must weigh the pros and cons of leveraging an in-house IT staff or outsourcing the services. But there is a third way to approach the situation – co-managed IT. This strategy is beneficial because it combines the advantages of having your in-house staff with specialized insight from outsourced professionals.

By utilizing a “best of both worlds” approach, companies can bridge any existing technology-based gaps without needing to put in the time and money for qualified personnel.

Unfortunately, many myths surrounding co-managed IT can hinder the ability to make an informed decision. This blog post aims to highlight these misconceptions and help you realize the immense advantages of adopting this approach for your business’s growth.

Myths debunked

Myth #1: My business isn’t big enough to need outsourced co-managed IT.

Though it is often assumed that outsourced IT services are reserved for larger enterprises, co-managed IT solutions are available to businesses of any size. By working with a reliable service provider, companies can access customizable support that covers gaps and allows them to meet their goals better. Furthermore, even small organizations can suffer from cyber threats, making using an IT partner’s advanced security measures all the more crucial.

Myth #2: An outsourced IT specialist is less vested in my business’s success than my internal staff.

This is not true. When selecting an IT service provider, ensuring a commitment to your business and its success is vital. A co-managed IT services model is a great way to ensure that the service provider becomes an integrated part of your team. In contrast, the internal team maintains ultimate control over the relationship. In such cases, the external provider will be focused on helping you achieve your goals and objectives for maximum success.

Myth #3: My business won’t be able to afford co-managed IT.

Many people wrongly assume that co-managed IT is a costly solution. The cost efficiency of partnering with an external service provider to share the workload cannot be understated. The financial impact from potential downtime caused by internal IT staff attempting to deal with unanticipated problems or malfunctions can also be much greater than what you would pay for co-managed IT services.

Myth #4: My internal IT staff will lose their jobs.

Rather than swap out existing resources, a more collaborative approach is implemented through a “partnership” solution. With this model in place, internal IT personnel and external IT providers each have well-defined duties that mutually reinforce one another. This alliance focuses on shared corporate objectives without any need for redundancies within your internal tech team, instead providing them with the chance to collaborate with specialist and expert-level technicians, enabling your firm to secure optimal results.

Need help?

When considering co-managed IT, it is essential to remember that not all IT service providers are the same. Therefore, selecting an experienced partner can make a big difference in accomplishing your plan. That is why it is essential to partner with a vendor who comprehends your company’s unique needs before making any decisions.

And that’s where we come in!

Achieving success through the use of co-managed IT is within reach for your business. Our tailored services are designed to meet your requirements and goals so that you can make the most of this path. Get in touch with us now to assess how co-managed IT could benefit you and find out about our aid in meeting your firm’s IT demands.