The majority of small and midsize companies underestimate the importance of a well-designed cybersecurity policy. The failure to draft and adopt the policy is often a result of limited resources, a lack of awareness, or procrastination by the leadership.
Cybersecurity is undoubtedly a major issue affecting businesses of all sizes. It impacts C-level executives and information technology departments alike. More importantly, cybersecurity issues should concern the entire organization, given the rise in breaches globally.
A well-designed policy takes a holistic view of preventive measures. It encompasses password policies, access restrictions, and robust data encryption. A McAfee data exfiltration report revealed that up to 43 percent of data loss incidents are due to insiders’ negligence. Cybersecurity policies can mitigate risks posed by insider negligence through awareness training and other measures.
IT experts recently shared their opinions on this critical matter. Here are their views.
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What Is a Cybersecurity Policy?
This type of policy enables organizations to outline a wide selection of data protection controls. They help determine the handling of various data categories. A company can also use the policy to establish a working group responsible for reviewing any shortcomings.
According to Nick Allo of Semtech IT Solutions, a cybersecurity policy defines wide-ranging guidelines and protocols regulating data protection measures. These protocols and guidelines cover security measures, training guidelines, remote work protocols, and confidential data access or use policies.
For Don Baham of Kraft Technology Group, information security policies play a critical administrative control role in cybersecurity matters. He pointed out that the policies act as a baseline for enhancing data protection capability for enterprises. The policies make it easier to implement both technical and functional controls, which bolster organization-wide adherence.
Failing to implement these policies compromises the leadership’s ability to adopt effective cybersecurity strategies. Cybersecurity policies enable the management to use the IT budget more effectively and assign critical security responsibilities.
Why Is a Cybersecurity Policy Important?
Ross Siroti of Rekall Technologies said that a cybersecurity policy plays a crucial role in ensuring accountability. In addition, he highlighted the importance of training users to avoid disastrous security events. To Siroti, training complements the purpose of the policy. Every employee needs awareness training and must receive a cybersecurity handbook.
When it comes to an example of how the policies benefits organizations, Siroti mentioned the use of mobile device monitoring services. Rekall Technologies offers specialized tools to wipe, lock, and unlock devices remotely. Its clients can take advantage of the service to monitor and control employees’ devices.
One of Rekall’s clients once declined an offer to use the mobile device monitoring service. Ironically, the client faced a tricky situation involving a lost device a few weeks later. The device lacked password enforcement and, as a result, sensitive company data leaked. As expected, the client subsequently decided to purchase mobile device monitoring services. This example highlights the need to adopt a proactive approach to IT security as guided by cybersecurity policies.
As an experienced information technology expert at Rekall, Ross emphasized the need to encrypt all devices that store sensitive data. The combination of device encryption and a lock policy is vital to maximizing data protection.
On the other hand, the Kraft Technology Group uses well-designed information security policies to gain a competitive edge in the managed IT space. Don Baham said his firm meets the requirements of the annual third-party audits it undertakes voluntarily. In turn, the IT firm showcases the audit results to new and existing clients to demonstrate its operational security capability. It is no surprise that the firm’s revenue has increased in recent years.
Nick Allo of Semtech IT Solutions said the policy is vital because it enables organizations to hold negligent employees to account for their actions. Without the policy, it can be difficult to hold employees liable due to the lack of clearly defined cybersecurity rules.
What Should Be Included in the Cybersecurity Policy?
The development of the policies requires a multi-layered approach. As such, companies need to pay close attention to policies included in the document.
Here are some items that experts recommend integrating into the cybersecurity policy document.
- Password policy
- Guest access restrictions
- Mobile device management that prohibits access to company data using personal devices
- Email policy that includes encryption
- Physical security measures
- Acceptable use policy
- Network security guidelines
- Incident response protocols
- Restrictions on the use of social media
The guidelines and protocols mentioned above represent the fundamental policies needed to bolster cybersecurity for small and midsize businesses.
According to Don Baham, one of the key aspects of information security policies is data location. He urges organizations to include guidelines for data location. In doing so, it becomes easier to comply with specific regulations or client requirements. Some clients may be sensitive to the location of service providers’ data centers. Information security policies compel organizations to maintain storage in specified locations at all times.
Do You Have a Template For a Cybersecurity Policy?
Nick Allo stated that Semtech IT Solutions does not have a cybersecurity policy template. He attributed this approach to customization requirements for individual clients and their risk tolerance. Small and midsize businesses have varying information security needs and risk tolerance.
Some organizations have to consider several regulatory requirements when drafting cybersecurity policies. Types of data handled by a company, industry, and location typically determine whether compliance is a major factor to consider during this process.
A company handling customers’ sensitive information must implement robust security measures to prevent breaches. Social security numbers and credit card details are high-value targets for cybercriminals.
IT experts recommend assessing current cybersecurity risks and vulnerabilities before selecting an information security policy stance and template. The assessment makes it easier to address specific issues facing the company. Some small and midsize businesses grapple with confidential information leakage and inappropriate resource usage by employees.
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