Here Are Some Ways Your New Orleans IT Services Should Keep Your Contracting Business Secure

There are two big myths about cybersecurity in the construction world that I want to bust in this article. Contractors need to understand the role cybersecurity plays in their business, both directly and indirectly.

If you have one, your New Orleans IT services company needs to be managing your cybersecurity. If you’re handling it yourself, then it’s up to you.

In either case, you need to be aware of these two myths:

  • Contracting businesses aren’t common targets for cybercriminals
  • Cybersecurity has no indirect benefits

Let’s start with the first myth…

Are Contractors Actually At Risk?

You may think that cybercriminals would be better off targeting higher-value businesses like financial firms and casinos. That’s not really the case though – contracting businesses like yours are just as good of a target.

Experts agree that cybersecurity should be a bigger concern for contractors and for the New Orleans IT services companies that support them. Phil Weaver, senior director for Warfel Construction’s IT, doesn’t think the industry is ready to defend itself.

“I don’t think general contractors and construction managers are worried enough about the impact a cyber incident can have,” said Weaver to “I think there is just a lack of understanding or realization that it can happen to us.”

Case in point – ransomware.

Ransomware is an undeniably major threat to businesses around the world today. Maybe you can accept that ransomware is real, but don’t believe it’s all that costly. You’d be wrong.

According to Beasley Breach Response’s 2019 noncompliance report

  • The average ransomware payout is $116,000
  • The highest ransomware demanded by cybercriminals was $8.5 million
  • The highest ransom paid by a target organization was $935,000

The construction industry has been hit before, and it will undoubtedly be hit again – just consider the ransomware attack against Saint Gobain, which cost them an estimated 80 million Euros. The question is – do you have a New Orleans IT services company to protect your business from ransomware?

Did You Know Cybersecurity Has Real Business Value?

On to the second myth…

Many businesses both inside and out of the construction industry believe that cybersecurity is just about keeping their data secure. But that’s not the case either – investing in cybersecurity is an investment in your business as a whole. Contractors that are more secure are more likely to be selected by clients that are worried about data security.

Underinvesting in cybersecurity can have serious consequences:

  • Limited Clientele
    Did you know that New York’s Department of Financial Services (NYDFS) requires financial firms to vet the cybersecurity of the third parties they deal with? That can include you, depending on the types of clients you’re hoping to work with. If a financial firm you’re involved with doesn’t approve of your level of cybersecurity, then you’ll lose that business.

  • Loss Of Competitive Edge
    Similarly to the first item on this list, your cybersecurity is a selling point – if your competitors can demonstrate a high maturity with their cybersecurity, you may be passed over for them by potential clients.

How Should Your New Orleans IT Services Company Support Your Cybersecurity?

Your New Orleans IT services company should comprehensively manage your IT to make sure your data is protected. The best way to do so is with a robust policy and set of solutions that include the following:

Inventory Of Your Data Assets

You have to start from a place of understanding. Begin by taking stock of your data – what it is, where it is stored, etc. With that information, you can then move forward in protecting it. You also have to consider the worst-case scenario. What would it mean to you if you lost your data right now? Do you have a backup plan? Do you have redundancies and contingencies in place?

Data Backup

Do you have a data backup policy in place?

If not, then you’re vulnerable, right now, to ransomware. If you have a data backup solution, then it doesn’t matter if your data has been encrypted by ransomware. You can just replace it with your backup, simple as that.

That’s why you should make a considerable investment in a comprehensive backup data recovery solution so that you can restore your data at a moment’s notice when necessary.

Be sure to:

  • Back up data on a regular basis (at least daily).
  • Inspect your backups to verify that they maintain their integrity.
  • Secure your backups and keep them independent from the networks and computers they are backing up.

Cybersecurity Awareness

A comprehensive cybersecurity training program will teach your staff how to handle a range of potential situations:

  • How to identify and address suspicious emails, phishing attempts, social engineering tactics, and more.
  • How to use business technology without exposing data and other assets to external threats by accident.
  • How to respond when you suspect that an attack is occurring or has occurred.

Is Your Business’ Cybersecurity Effectively Managed?

Essential Solutions offers comprehensive cybersecurity services to protect contractors like you. If you’re not getting the support you need from your current New Orleans IT services company, then you should consider making a change.

Like this article? Check out the following blogs to learn more:

Important Cybersecurity Warning

Reclaim Productivity with These Microsoft Excel Secret Shortcuts

Is Your Law Firm As Secure As You Think?

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