As a retail company, you are visited by an array of consumers, buyers, sellers - entities from the furthest corners of the world wide web and just as every step into your brick and mortar is an opening to both kinds of exposure (the good and the bad), every click into your business is another door into the same: new traffic, a necessity to boosting profit, also brings the inescapable risk for loss. Every entity that enters into your virtual space, whether with the swipe of a card, subscription to an email or site, or transaction of a contract, is investing in your business at the risk of their own property and your company’s integrity. According to a study in 2018 by Verizon, 93% of studied cyber attacks into companies in the retail industry are carried out by external actors with 75% of these attacks through “Denial of Service, Web Applications, and Payment Card Skimmers”. Thus, for a company in retail, data protection is a priority to preserve your property, information, and reputation that can no longer be ignored.
No matter the size of the business, as long as it is operating within the IoT framework that we all must inhabit, it is exposed to the negative impact of data and security breaches. As a matter of fact, one of the major failures to cyber security protection within retail is what Price WaterHouse Coopers called “a dangerous misperception” that many small to medium-sized companies have which causes them to ignore the risk, as they too often believe that they are not a target to cyber breach, thinking quite mistakenly that they are not the kind of multi-billion dollar business worth a hacker’s time and energy. Sadly, these are the very companies that often end up as a portal of access through which hackers make their way to the larger organizations by simply slipping through the unguarded pathways left open in order to unleash a greater Supply Chain Attack. As a larger business, you must protect against the unknowns of your partners’ operations and as a smaller business it is critical to take well-calculated precautions to preserve integrity and build dependability within the environment that you hope to thrive.
Regardless of the type of business, making choices as to where and how to commit resources to cyber security is a question so unique to you, that no catch-all plan could lead to success. Only a personally-tailored set of tools for your entity, developed through a holistic cyber security analysis, could guide your company towards building a strong security posture without expending your executives’ vital time and resources. Maxxsure offers just that, metrics to evaluate every movement of your company, analyzing the risk using a fine-tuned system of metrics and tools, communicating the analysis using clear dashboards so that you can manage your systems with ease, and offering solutions to mitigate and transfer risk. Maxxsure gives you everything you need to help lead your company to success through a world of unknown, unpredictable, and unavoidable cyber activity.