The Importance of Security in Your Software

By January 14, 2014Security

Security ImportanceOne particular market that stores huge amounts of personal data is higher education. They record personal information on each student, which is typically in the thousands per campus, along with their financial information that was gathered for student payment and financial aid purposes. In essence, they hold the virtual wallet of every student on their campus. What do they do if they feel they are under attack?

 

When a breakdown in security occurs, or is potentially looming, U.S. universities rely on faculty and students to help improve their data security. Educating the university community regarding potential network threats and how to avoid them is an integral component of safety.

At Stanford University, students were recently informed of a cyber-attack against the school’s information systems infrastructure. Stanford reached to the students to explain to them the importance of being vigilant across all of their devices. They also explained that they are transitioning into a two-tiered identification system to help thwart these types of potential data breeches.

Have you ever considered the depths of what could happen if your data suffered a loss of integrity? The end result could be catastrophic, even debilitating to the point of having no option for recovery. Protecting software is necessary to provide system security. This is an on-going task that not only keeps employees busy, but consistently has new challenges because of the near constant changing of technology.

On average, each attack that a small business faces costs that company approximately $9,000. This can be a huge amount for the typical small business. According to Molly Brogan, the director of communications for the NSBA, a loophole exists because smaller business accounts need to be protected by that individual business. These smaller business owners do not always realize the depth that their security is lacking. In addition to the average $9,000 it costs a small business to recover from the attack, they also lose approximately $7,000 to actual attacks, bringing that total to around $16,000.

What sort of breeches are they facing? Of the 44% of businesses that had experienced an attack, 59% say they incurred service interruptions, and 35% say information was falsely sent from their domain names. Nineteen percent say their website was taken down, and 5% say sensitive information and data was stolen.  This demonstrates the variety of attacks or breeches that can occur.

What makes you susceptible? Not knowing the dangers is a huge component. Twenty-seven percent of business owners maintain their website themselves today, compared to just 9% of small-business owners in 2010. And doing so places additional strains on the limited time of business owners who wear multiple hats. Sixty-four percent of business owners find the time necessary to update the website a major challenge, and more than a quarter say the cost of maintaining the site is a big hurdle.

Most businesses store huge amounts of sensitive and critical information in a virtual state. System security is vital. Do you feel safe? If you aren’t 100% sure regarding the protection of your information, it is something you need to deal with today, because you cannot afford to put it off. Just ask someone who was in the 44% last year.