3 Cyber Security Myths Your Growing Firm Must Avoid

While your firm is growing, it can be easy to make assumptions about cyber security and put it off. But what are the risks of ignoring security for your firm? Today, we’re going to address the top three cyber security myths about security for small firms and give you some pointers for how you can avoid a security breach.

Myth 1: Small firms aren’t as much of a target as large firms.

Many small firms assume they can ignore cyber security because they aren’t a big target. After all, wouldn’t a hacker or thief be more interested in going after a larger firm?

The Truth: Small firms may not be as large of a target, but they’re often an easier target. Large firms can be expected to spend top dollar on securing sensitive information, so while there may be the possibility of a bigger payout, it’s much harder for a hacker to access. On the other hand, it’s easy to go after a few low-hanging fruit.

It’s much safer to assume you are definitely a target, and to act accordingly by investing in security for your firm.

Myth 2: Increasing security is too expensive for my firm.

A growing business deals with numerous expenses, and it can be a challenge to know which investments are necessary and which aren’t. If you don’t invest in security, is it really that big of a deal?

The Truth: Investing in security isn’t just about preventing hackers from accessing your bank account. There are many ways a bad actor can do damage to your business without actually taking any money—just think of the many companies in the last few years whose poor security practices allowed private customer information to be compromised. While money may not have been stolen, the trust of the public was broken, and that undoubtedly had financial repercussions.

An attack—whether the damage is financial, reputational, or otherwise—is likely to cost your business more in the long run than investing in improving your security practices.

Security can be expensive, but it is a valuable investment. There are many small steps you can take, even if you’re not ready for a full overhaul. Start with what’s free: Use multi-factor authentication on all devices, require strong passwords, regularly update your operating system, and train your team on security best practices to prevent user-based social engineering attacks.

Myth 3: Improving security is too complicated for my firm.

You already have so much on your plate, why add to it with the challenge of finding and implementing security in your firm?

The Truth: Again, the value of investing is arguably worth the difficulty of implementation, and there are a variety of simple, inexpensive ways to dramatically improve your firm’s security. But it doesn’t have to be complicated.

Rather than layering security on top of your current system, a great approach is to adopt systems with security built in. Software platforms like NetDocuments provide incredible tools to make your work easier while also delivering a high level of security for your most confidential documents.

We’ve busted the myths—now it’s up to you.

Just because you’re a small firm doesn’t mean you don’t need protection. As we’ve stated, your size may actually make you more of a target; either way, you’re better safe than sorry. Improving security can be costly, but it’s a worthwhile investment, and if you can’t take the leap yet, you can still start with a few small steps. Finally, security doesn’t have to be a hurdle; it can actually make your life easier when you invest in powerful tools that come with security built in.

Find out how NetDocuments can help protect your data today, request a demo.