What Every CEO Needs to Know About Cybersecurity

Believe it or not, many C-suite executives are woefully uninformed when it comes to cybersecurity.  According to a survey recently commissioned by the cybersecurity experts at CyberArk, most CEOs are not regularly briefed on cybersecurity issues and the business risks associated therewith.  Yet it is clear that breaches and data loss headlines have a significant and pretty immediate impact on a company’s reputation.  As such, executives must begin to understand that mitigating cybersecurity risks through proactive engagement is critical, but the questions is always “where to begin?”  Here are three IT security best practices to start with now:

  1. Change your way of thinking. Gone are the days where cybersecurity is strictly the responsibility of your IT staff.  If and when a cyber-attack occurs, it is the leaders who will be held accountable when brand equity and/or business performance is impacted, so get ahead of the curve, understand the risks and be a part of the decision process.
  2. Have a plan for what happens if your network is compromised. Lack of business continuity following an IT breach can quickly put even the most successful of companies into a tailspin. Appoint executives who understand your business (including yourself) to work closely with IT experts to map out a meticulous plan for a quick and seamless recovery from a cyber-attack.
  3. Engage your IT experts to help you investigate what additional resources are available to help protect your most valuable assets. Firewalls and antivirus software products are great, but they are rarely sufficient.  Making appropriate IT investments now can save you headaches and significant cost down the line.

Cybersecurity is a significant challenge facing any CEO or business owner.  These days, IT seems to be at the heart of almost every company’s operations.  The significant investment in information technologies across almost all sectors of the economy has resulted in tremendous gains in efficiency, however, it is important to remember that everything that is networked is hackable.  Cybercriminals and others are attacking corporate systems with ever increasing frequency and sophistication, and the results can be catastrophic.  From disrupted business operations and stolen customer data to compromised intellectual property and direct financial losses, cyber-attacks are a very real threat, and therefore, business leaders must take the time to fully understand and appreciate the bottom-line risks.   Contact the team at ATB to learn more about how we can help!