Would you risk losing business due to poor WiFi Security?

by Neha Sharma

The Internet has become the oxygen which supports most business operations whether it is a Coworking space, Small offices, Restaurants, Hotels and other industries. The internet helps your business to automate a lot of processes which would otherwise end up costing more time and money. The cost of adding high-speed and stable internet connection has been steadily falling over the years allowing even small scale businesses to run fast connections without burning a hole in their pockets. There are businesses who solely sell their product and services over the internet. With the advent of Internet of Things (IoT) a lot more devices have become smart over the last few years offering brands meaningful information on user patterns, likes and dislikes which can result in more focused product promotions and reduced ad spends.

With the internet in place, it is also essential to have WiFi Security in place which protects your business from cyber threats of any nature. Hackers are finding new ways to find vulnerabilities and even using anonymous digital payment methods to conceal their tracks. So having a robust Network Management becomes critical for your survival.

How can poor WiFi Security affect your Network?

Network security should be the highest priority when setting up your office Network. A poorly managed network can invite malicious cyber-attacks from hackers and other bots which could compromise all the devices connected to the internet including your mobile phones, laptops, desktops, POS devices, Smart TV’s and much more. Attacks on your devices could lead to downtime which directly affects your ability to conduct business at your workplace. Imagine your marketing team is not able to upload content on a streaming site as part of a campaign which could cause revenue loss due to the missed opportunity. Or a coffee shop not able to serve coffee because the POS system is infected.

Apart from this, your networks can also be compromised by people using your network by bringing their own devices and try to access websites with malicious content or try and upload copyright material which could invite legal implications to your business.

Here are some numbers on cyber-attacks that you should be aware of:

· As per a study conducted has revealed that cyber-security-related damages may amount to $5 trillion by the next year – 2020. It then becomes imperative to upgrade your Network security to prevent such mishaps occurring at your workplace - Source

· Based on numbers published by Cybint, upto 60% of businesses have been affected by cyber-attacks like DDoS, phishing amongst others. As per a Juniper study, small to medium businesses account for 13% of the digital-crime in the market. However, their spending on cyber-security is a lowly $500. - Source

· According to a Clark School research based out of The University of Maryland was able to measure that every 39 seconds on average hacker based attacks were occurring on computers. These hackers were given a helping hand due to weak usernames and password combinations – Source

· Even Coworking giants Wework were guilty of being exposed through their weak WiFi Security which compromised their Network·

· By 2021, the cybersecurity damage is expected to reach $6 trillion

How do you prevent your Network from any attacks?

There are multiple ways that you can prevent cyber-attacks by improving your Network Security

  • Get a Firewall based solution – Invest in a Firewall based solution which can help you to lock down your network from external vulnerabilities. Choose one which is cloud-based which helps you save costs depending on the number of users you give access to
  • Invest in Enterprise-grade Network devices – Use network devices which offer enterprise-level security and functionality. A cheap device may get the work done but my hamper you in the long run
  • Authorize users who use your network – It is important that you authorize only those people who actually need to use your network to access the internet. Get a Managed WiFi-based solution which can automate this process for you
  • Keep a check on users bandwidth usage – Attacks can cause malware and other threats to choke your bandwidth speed and data limits. Distribute your internet evenly so that no single user can exceed defined limits so that you are protected. Have someone monitor your consumption patterns at your workplace on a regular basis to detect unusual trends
  • Have alerts setup in case of emergencies – Have alerts built-in everytime a defined threshold is breached so that you can take preventive actions to protect your network
  • Block users who misuse your network – If you are able to detect a user is misusing your internet to access restricted content or download them, then you should block them completely to safeguard other users and your network

So if you haven’t secured your network yet then now is a good time to look for a solution which will protect your business from revenue losses.