Cybersecurity: why worry about your company's data?

Why cybersecurity is so important for business?

As organisations accelerate digital transformation and the use of technology increases, so does the risk of cyber-attacks, security breaches and unauthorised exploitations of systems and technology. Data security has never been more important. Company leaders and technology professionals need to consider how to protect their businesses from cybersecurity risks and protect their customer data.

Read on to discover a quick guide from Docusign on recognising risk, what cybersecurity is and how to implement it. The GDPR (General Data Protection Regulation) and DPA (Data Protection Act) are legal requirements that organisations must comply with to protect personal data. There are significant fines for companies that face security breaches, including the potential of significant brand damage. So cybersecurity is a critical business issue for small, medium and large businesses and their customers.

What is cybersecurity?

Cybersecurity refers to the protection of company data, networks, technology and devices against cyber-attacks and cybersecurity threats like leaks, theft, unauthorised use or damage. Cybersecurity is how individuals and organisations reduce cyber-attack risks, protect data and personal information, and protect the devices we use.

Government back initiatives like the UK Cyber Essentials scheme help organisations to protect themselves against common threats. The UK Government requires all suppliers that bid for contracts that include the handling of sensitive data to be certified against the Cyber Essentials scheme.

The best cybersecurity practices

Good cybersecurity practices can protect your organisation against data breaches, damage and financial loss. Here are some 'best practice' cybersecurity tips to consider to protect your organisation.

• Implement a cybersecurity policy and infrastructure,

Make cybersecurity a priority for your leaders, and assess the risks your systems are open to. It's best to create a security policy that defines the rules employees and partners must follow to keep the organisation safe. Staff should be trained so that they understand acceptable and secure use of systems. You should also implement a technology protection infrastructure, including malware prevention, network security and monitoring. It is worth seeking the support of experts in the subject.

• Use data encryption solutions

A data encryption system can protect sensitive data. During encryption, data is translated into another form or code so that only those with access to a password or secret key can read it. This practice prevents unauthorised agents from intercepting the data. These solutions help to control precisely who has access to view the company's digital documents. Identity verification solutions can further enhance document security by ensuring only authorized individuals can access sensitive information.

• Manage user authority and privilege

Ensure that you have an audit trail, a record of access and privilege and continuously manage access to activity audit logs.

• Use an Electronic signature

Remove the need to print documents which prevents the loss of information. Electronic signature solutions often use robust data encryption technologies and meet stringent UK, EU and global security standards. Discover more about electronic signature safety.

• Monitor and respond to potential cyber-attacks.

I\u200b\u200bn a cyber attack, hackers attempt to gain unauthorised access to a your data with the intent to cause damage. It's essential to establish a process for monitoring systems and networks and identify potential cyber-attacks so your organisation can react quickly. Understanding the legal aspects of electronic signatures can also help in implementing secure digital processes.

Choose the right partners to maximise cybersecurity

Increasingly, companies of all sizes are relying on specialised cybersecurity partners who can provide efficient solutions with in-built cybersecurity support. The Docusign Agreement Cloud enables organisations to automate the entire contract lifecycle. The security of the technology protects contracts, your organisation and your partners, customers and employees from unnecessary risks. Adopting Docusign eSignature is a good place to start as the technology meets the strictest security standards. For more comprehensive contract management, consider Contract Lifecycle Management (CLM) solutions that can streamline and secure your entire contracting process.