Rajesh Kumar Subramanium is an ex-Amazon and ex-SAP product and software developer with a rich experience of 15 years in the industry. He leads the product development of Ghoshak.
With the dominance of technology and everything social media, there is no option but to adapt to this new world. The pandemic amplified the need for the adoption of technology by 10X. The giant industries and companies had the resources readily available to transform digitally with security measures at a place. But there have always been underlined security threats. The phishing attacks and the threat to customer data is the prime source of concern for any organisation. Over the period of time, the matter has shifted to bring in more secure reasons to curb these rising threats.
Technology has disrupted almost every industry including MSMEs. While other sectors had the tech resources available at their disposal, only a few companies supported small and medium-sized businesses. When the disruption was happening, most of the corner shops that have been fulfilling our daily needs were ignored. There was a gap that needed to be bridged to smoothly and efficiently equip these businesses to cut down their overhead expenses at a minimal cost while keeping the business afloat. Few companies are now focussed on solving this issue and are providing a 360-degree solution to small businesses. From online customer booking, taking appointments, online billing, and inventory management to the daily sales report, MSMEs can now conduct their day-to-day business operations efficiently at a lower cost than a monthly tea.
The trend that started which big businesses has now trickled to small companies as well. With many security measures in place, one must always be alert and know how to protect their business, no matter the scale of the operation. Lately, small and medium-sized businesses have also started to realise the severe exposure to cyber-attacks and threats. The challenge with MSMEs is the need to understand the amount of damage from such attacks and the available resources to mitigate the loss. Many of them don’t have IT support or a team due to the scale of operation and the cost. Even if these business owners hire IT support, the problem lies with understanding the complexities of the cyber threat landscape. Such issues can be handled by taking the correct measures and learning about the cyber world and its threats.
It’s all about Awareness
To get to the crux of anything, one must have a knowledge base, especially something like cyber security. For any small business owner who is embarking on his digital journey can be a little challenging to understand the whole tech world. But a plug-and-play technology provider like Ghoshak can help them get up and running with things. When it comes to cyber security and possible threats that can cause harm to their business can be a little tricky. A piece of basic knowledge about the market and its latest happenings can help them be alert.
Cyber Immunity: The new buzzword
Why awareness is essential for any business is that it subsequently builds cyber immunity. Gathering the knowledge and upskilling yourself will not work alone. It is vital to pass down similar expertise and share the effects of cyber attacks with your support staff or partner(s). Small and medium sized businesses have been shying away from technology for a long time. Still, with the pandemic looming its tentacles upon everyone and sparing no one, technology has emerged as a boon in disguise. All these business owners must take technology as a tool that can be leveraged for their own good. From running their day-to-day business operations smoothly to combatting cybercrimes, a combined awareness can help build cyber immunity. Technology can easily erase the possibility of manufactured errors and can fasten the overall business process.
Tier-2 and Tier-3 cities on the rise
India is essentially a hub for MSMEs. There is no denying the fact that the pandemic has only amplified the number. In the last year, businesses like home chefs, bakers, thrift shops, homegrown fashion brands, environment-friendly products, and wholesale suppliers have risen. And most of them are from Tier-2 and Tier-3 cities. While people are taking charge of their businesses by adopting various digital means, it is also essential for them to be aware of the possible threats that may occur. Therefore, it is crucial to form allies with the local service provider and be assured of the network’s security. Most of the small businesses must take care of this. At the same time, medium sized businesses that operate on a slightly larger scale can hire a professional IT person or a consultant to keep their online business operations secure.
Some key measures that small businesses can take to protect themselves against a possible cyberattack:
- If you wish to download an app on your shared device or a platform, do it from a trusted source.
- Always use multi-factor authentication whenever possible for more security.
- Use complex passwords, a combination of upper case, lower case, numbers, and special characters. Avoid keeping easily predictable passwords, like a birthday or anniversary date.
- Don’t share passwords with anyone. If you have a shared device, then keep a separate log-in.
- Use a pin or password to lock your phone from which you usually conduct your business or keep a separate device/phone for business purposes.
- Lastly, keep your OTP safe and don’t share it with anyone.
When we talk about cyber security, there can be many threats and several solutions for each one of them. For any small or medium sized business it is vital to identify the core of their business and where the most threat can be. The business owner can then focus on the solution specific to that feature rather than spending on everything. But it is equally important to possess the knowledge of how the overall cyber tech world operates. With the correct information and solution at their disposal, MSME business owners can continue running their business operations without any cyber threats.