As a business owner, security is extremely important. From your physical offices and distribution centers to servers and websites, it’s critical that you protect your data, resources, and inventory in order to avoid theft and destruction. Specifically, when it comes to storing data – yours and that of your customers – it’s critical that your website has the right security measures in place to handle external threats and mitigate vulnerabilities. After all, the last thing you want is to be exposed in an age where cyber attacks are quite common.

Why Website Security Matters in 2015 and Beyond 

For small businesses and large corporations alike, website security is critical. For a better look at the ‘why’ behind this statement and the prevalence of cybercrime, let’s review some relevant statistics and data – as curated in a GO-Gulf infographic.

• The estimated annual cost of global cybercrime is well over $100 billion and is expected to surpass the $120 billion mark by 2017.

• An incredible 59 percent of ex-employees report stealing company data when leaving the job.

• Around 38.9 percent of all data breach occurs in the medical/healthcare industry, with 9.9 percent occurring within government and military organizations.

• The motivations behind cyber attacks are – in order of prevalence – cybercrime, hacktivsm, cyber warfare, and cyber espionage.

5 Security Tips for Protecting Data

When it comes to important company and customer data, you can’t afford to let your business become part of these statistics. Here are a few of the best security tips for preventing a cyber attack:

• Stay updated. The first thing to do is make sure all software, website plugins, and add-ons you have are using the latest version. Updated applications are much more functional and more challenging for hackers to access, when compared to outdated programs.

• Use advanced authentication technology. If you still rely on a standard ID/password combo for employee and administrative accounts, you’re behind the times. Two-factor authentication is the first step in enhancing individual account security, while biometric security – or passwordless authentication – is ideal. According to this blog post from Toptal.com, “Using biometric authentication systems addresses many issues; there’s no reliance on centralised services, privacy is not a concern, and the user experience is not compromised – provided it’s done right.” Looking into whether two-factor authentication or biometric technology could help you enhance security is a must.

• Limit your data. One of the most practical tips is to limit the data you collect and store. This reduces your risk of being attacked and lessens the negative impacts of an attack, should one occur.

• Use an SSL certificate. Does your website have an SSL certificate to encrypt data and protect private information? More and more consumers are becoming aware of SSL certificates and many won’t even shop on a site that doesn’t have one. If any portion of your website collects sensitive information, an SSL certificate is needed.

• Limit the number of administrative accounts. The more administrative accounts you have, the more potential entry points you’re giving to hackers. By limiting your administrative accounts to only a few individuals, you can mitigate risk and greatly enhance security.

Take Action Before It’s Too Late

You owe it to your customers, employees, and company to protect important data from prying eyes. Use these tips to further enhance your security efforts in 2015 and beyond.