Category: Business Continuity

What would you do if your business suffered a ransomware attack tomorrow? Do you have a contingency plan in case of a tornado, hurricane, or earthquake? The unexpected can happen anytime, and small businesses can get hit particularly hard.

Small businesses are the backbone of many economies. They are critical for job creation, innovation, and community development. But running a small business comes with significant risks. This includes financial uncertainty, market volatility, and natural disasters.

60% of small businesses fail within 6 months of falling victim to a cyber-attack.

Thus, small business owners must prepare for the unexpected. This is to ensure their longevity and success. In this article, we will discuss some tips to help small businesses get ready for anything.

Tip 1: Create a Contingency Plan

One of the most critical steps in preparing for the unexpected is to create a contingency plan. A contingency plan is a set of procedures that help a business respond to unforeseen events. Such as natural disasters, supply chain disruptions, or unexpected financial setbacks.

The plan should outline the steps the business will take in the event of an emergency. Including who will be responsible for what tasks. As well as how to communicate with employees, customers, and suppliers.

Tip 2: Maintain Adequate Insurance Coverage

Small businesses should always maintain adequate insurance coverage. This protects them from unexpected events. Insurance policies should include things like:

• Liability coverage
• Property damage coverage
• Business interruption coverage
• Data breach costs

Business interruption coverage is particularly important. It can help cover lost income and expenses during a disruption. Such as a natural disaster or supply chain disruption.

One of the newer types of policies is cybersecurity liability insurance. In today’s threat landscape, it has become an important consideration. Cybersecurity insurance covers things like costs to remediate a breach and legal expenses.

Tip 3: Diversify Your Revenue Streams

Small businesses that rely on a single product or service are at greater risk. Unexpected events can cause them significant harm. Something like a raw material shortage could cripple an organization without alternatives.

Diversifying your revenue streams can help reduce this risk. It ensures that your business has several sources of income. For example, a restaurant can offer catering services. A clothing store can sell merchandise online as well as its physical location.

Tip 4: Build Strong Relationships with Suppliers

Small businesses should build strong relationships with their suppliers. This ensures that they have a reliable supply chain. This is particularly important for businesses relying on one supplier for their products.

In the event of a disruption, having strong relationships matters. It mitigates the risk of a supplier bankruptcy or supply chain issue. Having supplier options can help reduce the impact on your business.

Tip 5: Keep Cash Reserves

Small businesses should keep cash reserves to help them weather unexpected events. Cash reserves can help cover unexpected expenses. Such as repairs, legal fees, or loss of income. As a general rule of thumb, businesses should keep at least six months’ worth of expenses in cash reserves.

Tip 6: Build Strong Outsourcing Relationships

If business owners try to do everything in house, they’re at higher risk. For example, if a key IT team member quits. In this case, the company could face major security issues.

Build strong outsourcing relationships with an IT provider and other critical support services. If something happens to a company’s staff or systems, they have a safety net.

Tip 7: Check Your Financials Regularly

Small business owners should check their finances regularly. This is to ensure that they are on track to meet their goals and to identify any potential issues early on.

This includes:

• Tracking income and expenses
• Creating and reviewing financial statements
• Regularly meeting with a financial advisor

Tip 8: Invest in Technology

Investing in technology can help small businesses prepare for unexpected events. For example, cloud-based software can help businesses store their data off-site. This ensures that it is safe in the event of a natural disaster or cyber-attack. Technology can also help businesses automate processes. Automation reduces the risk of errors and improves efficiency.

Tip 9: Train Employees for Emergencies

Small businesses should train their employees for emergencies. This helps ensure that everyone knows what to do in the event of an unexpected event.

This includes training for natural disasters, cyber-attacks, and other emergencies. Businesses should also have a plan for communicating with employees during an emergency. As well as ensure that everyone has access to the plan.

Tip 10: Stay Up to Date on Regulatory Requirements

Small businesses should stay up to date on regulatory requirements. This helps ensure that they are compliant with all laws and regulations. This includes tax laws, labor laws, and industry-specific regulations. Non-compliance can result in fines, legal fees, and damage to your business’s reputation.

In conclusion, small businesses face many risks. But by following these tips, they can prepare themselves for the unexpected.

Improve Business Continuity & Disaster Preparedness

Get started on a path to resilience and protect your business interests. We can help you prepare for the unexpected. Give us a call today to schedule a chat.

—
Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

Paying attention to your customer experience directly impacts your bottom line. Companies that are “customer-centric” are 60% more profitable than those that aren’t. In this digital age, customers also expect more from those they do business with.

In today’s world, people can order something on their phones and see it on their doorstep the next day. Keeping up with expectations means leveraging the right technology.

As 2023 is on the horizon, it’s the perfect time to improve your customer experience. Thanks to cloud technology, you don’t have to spend a fortune to do it. Just put in place some of the applications below. These apps focus on making leads and customers happy.

1. Online Survey Application

Doing an annual customer satisfaction survey is a great way to check in with customers. Successful businesses take the feedback they get and use it to make their company better.

But doing these surveys through a Word document attached to an email is so last decade! Use an online survey application to make the process seamless for you and your customers.

Online survey tools are available widely online. If you have Microsoft 365, you’ll find one included. These allow people to fill out surveys on any device and not worry about sending them back in an attachment.

On the receiving end, there is no long process of collating data. Just open your form survey tool and see the results instantly.

2. Smart Chat Bot

Most businesses have a limit on how many hours a day they can pay staff to answer questions. Customer service hours are typically the same as business hours. And staff can get busy, which means answers may take longer to send back to an inquiry.

Putting a smart chatbot on your business website can improve customer satisfaction. It allows people to get an answer right away. They can also get that answer any time of day or night.

68% of consumers like chatbots because they give them fast answers to questions. While they can’t answer every single question, they can handle quite a few. For example, in healthcare and banking, chatbots can take 75-90% of questions.

3. Business Mobile App

People tend to live on their mobile phones these days. They carry them with them everywhere. Mobile apps are often the preferred method of connecting with data and businesses. More Google searches are now done via mobile devices than by desktops.

Think about creating a business mobile app. One that allows customers to connect with you to order products and services. You can use it for customer support, to initiate virtual calls, and more.

4. Facebook Messenger Support

Facebook Messenger is the 2nd most popular iOS app of all time. This Facebook-connected application makes it easy to communicate with friends, family, and companies.

Many businesses now use Messenger to connect with leads and provide customer support. When you use an app that is so popular in this way, you make it easier for customers to reach you. The ability to get a quick answer through Messenger can boost a customer’s opinion of your company.

5. VoIP Phone System with Good Mobile App

When customers must juggle different numbers for your staff, it gets confusing. Should they call your sales rep at their desk line or mobile number? Using a VoIP phone system simplifies the entire process.

Employees can have a single number that they use when at their desks, at their home office, or anywhere. Make sure the VoIP service has a good mobile app. One that is easy for employees to use. This ensures they can easily handle customer calls using their smartphone. It also keeps them from reverting to using their personal number.

6. Text Notification Apps

SMS is becoming the new email for many companies. Retailers like Shoe Carnival and World Market have customers opt-in to text messaging. Customers like this for shipping notifications and to get sale and coupon alerts.

There are several services online that you can use for this purpose. Offering text updates can significantly improve your customers’ experience. Use them for appointment reminders, sale notices, or shipping alerts.

7. All-in-One CRM & Sales Platform

One thing that frustrates customers is a disconnect between sales and support. They may have had a conversation with a salesperson to customize an order. Then, find that customer service knows nothing about it.

To streamline the information flow, look for an all-in-one CRM/Sales platform. These are cloud services that offer a CRM module and a sales module, and both connect. There is a single customer record, so all notes from the sales and customer support side are in the same place. Both teams can view all customer interactions.

This improves the customer experience and results in fewer dropped balls. Efficiency and productivity improve as well because everyone is on the same page.

Get Help with Customer-Facing Technology Support

It’s easy to get lost in a sea of different cloud applications. Let us help you navigate to a better customer experience. Contact us today for a free consultation.

—
Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

A torn-down virtual infrastructure creates risks for any business. And it can have a significant impact on how quickly you can retrieve your data and resume operations following an attack.

These days, many businesses use virtualized infrastructure for more straightforward data storage. It’s because this approach is superior to physical solutions due to enhanced flexibility, straightforward provisioning, and affordable pricing. 

However, this model also requires a comprehensive approach to security. 

There’s a much greater risk of data loss, as many tools and practices for physical data protection are nearly useless in the virtual setting. Virtual threats are different, that’s why you need to think beyond traditional perimeter protection. 

So, if you’re using a virtualized infrastructure for data storage, keep reading. 

This article discusses the risks of improper virtualized infrastructure security and talks about ways you can improve it. 

Don’t Leave Your Virtualized Infrastructure to Chance

Virtualization security is crucial for every business’s security strategy. After all, we now live in a world of virtualized environments and need to apply security to all its layers. 

Let’s explore three of the most common virtualization security issues. 

Issue #1. External Attacks

These are a real threat to virtualized infrastructure. 

If hackers enter your host-level or server management software, they can easily access other crucial parts of your system. They can create a new user, assign admin rights, and then use that power to extract or destroy your company’s sensitive data. 

Issue #2. File Sharing and Copy-Pasting

Host and virtual machine (VM) sharing is normally disabled. The same goes for copy-pasting elements between the remote management console and the VM. You can tweak the default settings by tweaking the ESXi host system, but this action isn’t recommended. 

Why?

Because if a hacker gains access to your management console, they’d be able to copy data outside your virtual environment or install malware into your virtual machine. 

Issue #3. Viruses

Virtual machines, or VM, are prone to many attacks, with ransomware being among the most popular ones. For this reason, it’s crucial to keep regular backups of your website data and store them off-site at a place where they can’t be encrypted by hackers. 

If you fail to perform backups, you may find yourself in a situation where hackers could ask you for money to decipher your data. 

Restoring a VM is quite tricky even if you perform regular backups. Therefore, you need to educate your team members on alleviating the risk of getting ransomware and other viruses. 

Optimizing Your Virtualized Infrastructure Security

Now that you’re aware of the 3 common issues a business can face if they have an unprotected virtual infrastructure, here are 4 tips on bolstering its security.

Tip #1. Managing Virtual Sprawl 

Virtual sprawls are often associated with growing virtual environments. The concept simply means that the more you expand, the bigger the need to keep your VMs secure. However, the number of machines can outgrow your ability to do so. 

To manage your virtual sprawl, consider doing the following:

• Create an inventory of all your machines at all times
• Set up lookouts featuring multi-location monitoring
• Monitor IP addresses that have access to your VMs
• Look for table locks
• Don’t use database grant statements to give privileges to other users
• Keep both on- and off-site backups
• Assess your virtual environment regularly and determine which machines you need and which ones aren’t necessary
• Have a central log of your systems and log all hardware actions
• Create a patch maintenance schedule for all machines to keep them up to date

Tip #2. Focusing on Virtual Configuration Setup

If you use virtual servers, you risk major configuration defects. 

That’s why it’s essential to make sure initial setups are free from security risks. This includes unnecessary ports, useless services, and similar vulnerabilities. Otherwise, all your virtual machines will inherit the same problems. 

The truth is that many businesses have poor virtual network configurations. You can avoid being one of those by ensuring all virtual applications that call the host (and vice versa) have proper segmentation. This includes databases and all web services. 

It’s also worth mentioning that most virtualization platforms only offer three switch security settings: forged transmits, MAC address changes, and promiscuous mode. There’s no protection for virtual systems that connect to other network areas. 

So, make sure to investigate each virtualization platform that allows this kind of communication, including all memory leaks, copy-paste functions, and device drivers. You can also tweak the system monitoring assets to look out for these pathways. 

Tip #3. Securing All Parts of the Infrastructure

It’s imperative that you properly secure all of your infrastructure’s parts. This includes its physical components (switches, hosts, physical storage, routers) and virtual and guest systems. Don’t forget about all your cloud systems as well. 

When it comes to protecting different infrastructure parts, here are some things you can do:

• Install the latest firmware for your hosts. Virtualized infrastructure needs to have the latest security patches. So, keep all your VMware tools updated. 
• Your active network elements such as routers, switches, and load balancers should use the latest firmware.
• Patch all operating systems with automatic updates. Schedule patch installations outside of your work hours and include automatic reboots. 
• All virtualized environments should have reliable anti-malware and antivirus software installed (and regularly updated). 

Tip #4. Having a Robust Backup Plan

Proper disaster recovery (DR) and backup plans are crucial in ensuring your business can continue operating after an attack. It’s because both your physical and virtual components can equally suffer from damage done by hacker attacks, hurricanes, etc. 

Ideally, you want to have a DR site located at a faraway data center or in the cloud. This way, you’ll alleviate the risk of being shut for a long time if your vital data gets compromised. 

Also, make sure to back up your VMs and your physical servers. Fortunately, you can back up your physical systems that operate on Windows or Linux, as well as your VMs that run on any OS. 

Additionally, you want to make at least three copies of your data and store two of them in different virtual places. And make sure to keep one backup off-site. 

If you want to take things to another level, you can replicate your VMs to a different data center for emergencies. 

Prioritize the Security of Your Virtual Infrastructure

If you never gave much importance to virtualized infrastructure security, doing so should be your priority now. Given the number of possible threats, protecting your VMs from unauthorized data sharing, viruses, and other types of attacks is crucial. 

All aspects of your physical and virtual components need to be protected to avoid issues. If this topic is all Greek to you, you’re not alone. The reality is that many business owners have struggled with the same problem. 

However, you can reach out to us for a 10-15-minute chat where we can discuss how you can bring the security of your virtualized infrastructure to the next level. 

—
Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

Your business faces all sorts of threats that can disrupt your operations. A comprehensive continuity plan can help address them. 

Carrying on with business as usual is easy when nothing out of the ordinary is happening. But the fact is, crises can strike anytime. And when it happens, you need to be ready to pivot your operations quickly, safely, and efficiently. 

That’s where a well-thought-out business continuity plan comes into play. 

It prepares you for the worst, such as market nosedives and governments shutting down entire countries. And in these cases, your plan allows you to embrace remote work, enabling you to keep functioning and servicing your clients. It also lets you support your team at home and make them feel comfortable through various predicaments. 

These are just some of the key benefits that a business continuity plan can bring to your business. And this article will delve deeper into its significance and explain how to create one for your company. 

Why Your Business Needs a Continuity Plan

A business continuity plan details a process that your company should take to neutralize and recover from different threats. It can also help protect your business’s assets and personnel during disasters, allowing them to function uninterruptedly. 

Business continuity plans are usually developed as part of a company’s overall risk management. This means you should consider creating this plan ahead of time, not in the middle of a crisis. 

The most significant benefit of creating a business continuity plan is that it provides a clear picture of how to proceed should those threats happen. It also tells you how those circumstances can impact your operations and how to implement procedures to mitigate them. Furthermore, it helps you check if the systems work and are up to date. 

Another tremendous advantage of having a continuity plan is its ability to ensure secure and continued access to your systems. It dictates how your team and IT service provider can reach critical platforms, the available bandwidth, and whether you need to boost their network capacity. 

The overall effect can be a reduced risk of losing your business and team members. 

It can safeguard against financial loss, lost productivity, and a damaged reputation. On top of that, it helps protect your employees from injuries or death in case of threats. 

But what specific threats can you address with a continuity plan? 

Here’s a quick list:

Threat #1. Pandemics 

Pandemics can affect your business plans in numerous ways. 

For example, they can force your employees to work from home, increasing demand for some services, and reducing demand for others. Moreover, they can prevent you from distributing your offerings due to supply chain problems. 

A business continuity plan can help you overcome these bumpy periods. 

It formulates how your team will communicate throughout the period and perform business off-site. And it can also provide several options in terms of service distribution.

Threat #2. Natural Disasters

Natural disasters are extreme geographic phenomena, including tornados, tsunamis, volcanic eruptions, wildfires, and earthquakes. They’re tricky because they’re hard to predict and can leave disastrous consequences within seconds. 

Like global pandemics, they can disrupt the supply chain in affected areas, which is why you need a business continuity plan.

Threat #3. Utility Outages 

Water shutoffs and loss of communication lines or power can hinder your daily operations. It’s especially true if such outages are predicted to last long. 

Without a continuity plan, the risk of asset damage and productivity loss is drastically higher.

Threat #4. Cybersecurity 

Cyberattacks are computer-based attacks on your technical assets. The most common examples include data theft, ransomware, distributed denial of service, and SQL injections. 

In the best-case scenario, your infrastructure will function less efficiently until you resolve the issue. But in the worst-case scenario, you could lose access to all business data.

Create the Best Continuity Plan for Your Business

Developing a foolproof continuity plan requires a systematic approach. Here’s what your strategy should involve: 

#1. Identifying Goals

Business continuity doesn’t just comprise your IT systems. It encompasses all essential business functions, like public relations, human resources, and operations. 

Since your company is unique, you’ll need to create a plan according to your specific goals. 

So, determine the most important processes and figure out how to back them up with recovery strategies.

#2. Setting up an Emergency Preparedness Group

Choose several cross-functional managers and anyone else who can contribute to the plan, such as your IT service provider.

Determine the emergency response leader and make it clear they’re in charge of moving things forward when disaster strikes. 

#3. Business Impact Analysis and Risk Assessment

Identify, research, and analyze your potential threats thoroughly. Discuss them with your team and see what would happen if you had to reduce, eliminate, or modify certain services.

 Make sure to document all issues along the way. 

#4. Focusing on Customer Service

Your clients need empathy and transparency during crises. And the only way to meet their expectations in such trying times is to ensure your customer support team understands your continuity plan. 

If necessary, hire more people to answer client inquiries. 

#5. Addressing Business Function

Your plan should incorporate critical business functions. These include business risk, impact on customers and employees, emergency policy creating, community partners or external organizations, and financial resources during disasters. 

This is vital to ensure business operations are functioning asap.

#6. Staff Training and Plan Updates 

Present your continuity plan to stakeholders and promote a proactive approach through trial runs to verify the plan works. This way, you can pinpoint any weaknesses or missing aspects. Then, based on your findings and feedback, train your staff to make the implementation smoother.

Following this tactic doesn’t leave much room for error. 

Besides helping you maintain business operations and the supply chain, it also builds customer confidence. If your response to emergencies is effective, your customers will appreciate it. This allows you to preserve your brand, prevail over your competition, and mitigate financial loss. 

Don’t Let Crises Cripple Your Business 

Disasters can be the ultimate test of your leadership abilities. 

That’s why instead of leaving your company to chance, create an in-depth business continuity plan before emergencies arise. Make sure everyone is on the same page, and you’ll be able to come out stronger after any predicament. 

If you need more insights into developing a continuity plan, get in touch with us today. Let’s set up a 10-15-minute chat to determine your goals and how to achieve them. 

—
Featured Image Credit

This Article has been Republished with Permission from The Technology Press.