IT Risks All CEOs Face
We’ll be going over the paths that inadequate IT infrastructure and support can lead to.
It’s important to understand the risks to prevent these issues from happening in the future.
Without further ado, let’s get into the top 5 risks all business’ face as a result of improper IT
Reduced Productivity
It’s just a fact that most companies these days rely on some sort of technology to support the way they do business.
This includes means of communication, storing important data and even time tracking systems.
If you do not optimize IT, it will significantly reduce productivity of the workforce which will have a negative impact on profitability.
There is nothing worse than losing hours of work-time due to a slow computer or an application that refuses to load.
The average worker loses about 48 minutes of productivity every day due to slow technology.
That’s over 200 hours per year.
Most workers admit that having subpar technology prevents them from doing their jobs to their full potential.
As remote work continues to be the new “normal,” business owners need to make sure they equipping their teams for success.
With the proper technologies in place, your team will be able to concentrate more on the task at hand.
The solution is to supply your employees with reliable equipment and personnel to back them.
Expenses for downtime are far greater than the expenses of properly maintaining equipment that helps your team be more proactive.
Frustration with Current IT Support
If you are “fed up” with the bare minimum, it might be time to rethink your current IT support.
Whether an internal staff member or an outsourced provider is in charge of your IT staff, you need to be satisfied with the results you are getting.
The best way to fall victim to a cyberattack is by not properly supporting IT.
Being frustrated with your current IT support is a key sign that something is wrong with your tech.
Plus, hanging onto staff you are not satisfied with can create a disgruntles environment.
Disgruntled workers can aim to sabotage your business. If this person handles your IT, you could be putting a target on your company.
This person can create a negative work environment for others as well as yourself. They can misuse equipment and software to open your network up to vulnerabilities.
Ransomware
The truth is, 100% of businesses that were hit by ransomware attacks were okay with the IT infrastructure beforehand.
I see it time and time again that businesses believe they are too small to be the target of phishing or ransomware.
That is unfortunately not true. Most business that are hit by cyberattacks are small.
This is because cybercriminals know small businesses don’t believe they are on hacker radar so they don’t properly secure their networks.
Hackers profit from know there are less hoops to jump through with a small business.
An average ransom demand is about $750,000, which can be devastating for a small business.
Most businesses are adapting to the new wave of cloud storage, accepting online payments and general online business practice.
It is crucial that business owners understand that anyone who conducts business online, stores data or uses a computer is at risk of cyberattack.
HIPPA / FINRA Compliance
This specifically refers to most CEO’s lack of awareness to their company’s exposure and associated risk for HIPPA and FINRA violations.
Patient and Client data is valuable.
It is crucial that businesses that should be HIPPA and FINRA compliant, ARE HIPPA and FINRA compliant.
Unfortunately, most patient and client breaches start from employees that don’t intend to leak information.
Lack of awareness about what should and should not be done with any device that accesses protected health information results in a breach.
Those who are not compliant with these regulations face major financial penalties and legal action.
This can include class action lawsuits and potential jail time.
Depending on your organization, you’ll require different levels of security.
How data enters and leaves your network is one of the deciding factors.
You can determine what security measures to implement with the help of a thorough risk analysis.
Risk of your Internal Assets
Hackers can steal your businesses internal assets, which includes company records and credit card information.
Unfortunately, your employees are the leading reason hackers gain access to internal networks.
Hackers use social engineering techniques to infiltrate employee accounts and future intrude a company’s data base.
This is why it so crucial business leaders run regular cybersecurity awareness and training.
Onboarding training is not enough.
Consistent training and testing is the best way to keep staff up to date on all current attack trends and tactics.
Having proper antivirus software in place is another way a business can help to protect its assets.
Antivirus works to detect, monitor and delete malicious code to prevent malware from causing damage to your devices.
Overall, you can avoid these risks with proper IT management.
We know it can be tough to navigate all the new trends and new technology. Consider outsourcing your tech to a team that cares about your future.
Whether it comes to protecting company assets or even preventing devastating breaches, having the right IT support will help you get through it all.
Check out our recent YouTube video where we talk about the massive hack on Uber.
For anyone thinking about changing your IT infrastructure, or want to know where to start, feel free to book a time to chat with us via the Calendly link below. I’d be happy to discuss ways to optimize your company’s IT.
Click here to schedule a free 15-minute meeting with Stan Kats, our Founder and Chief Technologist.
STG IT Consulting Group proudly provides IT Service for Small to Medium Businesses in Greater Los Angeles. We’d love to see if we can help you too!
