The Rise of Cyber Threats: How Managed IT Can Safeguard Your Business

By now, you might have heard about the debacle involving U.S. and Canadian car dealerships whose dealer management system (DMS) was hit with a ransomware attack. The attack has crippled roughly 15,000 U.S. car dealers who cannot use their automated sales tools and are losing business as a result. While the dealerships can process sales by hand, they cannot go online to register the vehicles, so buyers have to go in person to the DMV. How’s that for a clincher to close the deal? As you can imagine, dealers are either forced to turn buyers away, because they can’t process sales quickly enough, or they’re helplessly watching would-be buyers walk out, because they don’t have time to waste.

The target of the attack, CDK Global, is obviously the big fish the hackers wanted to extort, and the dealerships that rely on the DMS are simply collateral damage. But no business is so small that it won’t attract its share of cyber predators, whether they want to extort money or simply have some vindictive fun. Any business owner who sees what happened to CDK Global has to wonder if such an attack could cripple their business. For how long? At what cost?

Cyber threats are rising for a variety of reasons. Likewise, these attacks continuously evolve, so there’s no guarantee that yesterday’s preventative is going to work today. For this reason, every small business needs expert advice from a proven professional who has a finger on the pulse of this ever-changing issue. For most small businesses, the most cost-effective way to tap into that expertise is by contracting with a Managed Services Provider for all their IT needs.

How MSPs protect your business network from cyber threats

When you contract with a reputable MSP, you gain expertise on a number of fronts that contribute to overall cyber security. Your MSP can develop a cyber security plan that includes:

• Ongoing network monitoring — An MSP monitors your network continuously, keeping track of attempted breaches, and adjusting defenses in response to perceived vulnerabilities.
• Scheduled and need-based updates — Your MSP monitors your system to detect when your software and hardware need to be updated or replaced. Anti-virus software updates are critical for staying ahead of ever-evolving malware threats. Likewise, outdated equipment might not provide the robust firewalls you need.
• Enhanced security protocols — Two-factor authentication is now standard for gaining access to any business network. If you haven’t adopted this protocol, you’re leaving your garage door unlocked and hoping nobody takes your Porsche. You should also tighten up access by requiring workers to use encrypted passwords, which they must update regularly. Your MSP can present a password management system that simplifies these processes.
• Data backup and recovery — A cyber-attack that destroys data or denies you access can derail your operations. An MSP can provide secure, offsite backup with the ability to quickly restore data, so you can get your company up and moving again.
• Dark web monitoring — The dark web is the black market of the Internet. Hackers can post and/or sell information about your company, such as employees’ login credentials, that others use to attack you. Your MSP can scan the dark web to see if any critical information is circulating.
• Employee training — Safety protocols are only as effective as the people who implement them. Your MSP can provide training on best practices in cyber security for your employees.
• Regulatory compliance — Businesses that take and store consumer information must comply with data protection requirements. Regulations are changing all the time, so an MSP can help you remain current.

Few small businesses are in the position to hire a full-time IT professional to oversee their network. Fortunately, they can obtain these benefits and more through a Managed Services Provider. At KMF Technologies, we provide managed IT services for small businesses throughout New Jersey, so even companies on a budget can enjoy robust security. Contact us today.