5 Important IT checklists that no SMB should miss: Part-1 IT checklists are a great way to analyze, understand and take the necessary steps to meet your IT requirements. In this blog, we discuss 2 of the 5 important IT checklists--Hardware/software and Cybersecurity. When creating a checklist for hardware/software purchase, use, and installation, answer the following questions. How do you determine what hardware/software is needed? What about installation? Who will be doing it? Incorrect installation can end up resulting in loss of time and, in case of faulty hardware installation, it can also mess up the new hardware What is the process for the procurement of new hardware and software? Do you have regular vendors who you approach or do you start looking for a suitable one once the requirement arises Establish a policy for operating systems, because not all hardware/software is compatible with all OS. What about updates, security patches, and upgrades? Who will be r

Know your IT risks Whether you have your in-house IT team, or have outsourced your IT needs to be taken care of by a Managed Services Provider, you need to know what are the possible risks to your business from the IT perspective. Having an IT risk checklist can help you be better prepared for an IT emergency. Getting started In order to assess your IT risks, you need to first know your IT landscape. Answer questions like What role is IT going to play in the success of your business What areas is IT supporting your business in, currently What new roles can you foresee for IT in improving your business efficiency Do you have any new technology in mind that you want to implement in the next year If you have your in-house IT team, what kind of staff structure do you see in the next year If you are planning to expand your in-house IT team, how many team members will you need to bring onboard and what will be the cost associated with this decision Would it be m

What to consider when investing in cyber insurance As a business, you are probably aware of the term, cyber insurance. With the cybercrime rates rising consistently, cyber insurance is increasingly becoming a necessity for survival. Here are a few things to consider before you sign up with a cyber insurance service provider. Risk analysis First, perform an internal risk analysis. Research to understand what kind of cybercrimes are most rampant in your industry and ensure your insurance policy covers those for sure. Like we discussed before, the most basic of cyber insurance covers data breach and associated costs, but you definitely want more than just that. What is the scope of your policy Be clear about the scope of your policy before you sign the dotted line. Remember that cyber insurance functions on the same principles and policies as like any other insurance, which means there will be deductibles, waiting periods and exclusions. Be sure to ask your insurance service provider abou

Cyber insurance: What’s the cost and what does it cover Cyber insurance covers a range of elements, the most basic being the legal expenses incurred as a result of falling victim to cybercrime. This includes legal fees, expenses, and even any fines that you may have to pay or financial settlements that have to make with your customers or third parties who have been affected as a result of the incident. Apart from this, depending on the coverage you opt for, your cyber insurance may cover the following. Notification costs In the event of a data breach, the business is required to inform all affected parties of the breach. This involves reaching out to them individually and also through the press. Cyber insurance may cover the costs related to this process. Restoration costs After a cybercriminal attacks your IT infrastructure, you will have to spend money restoring it. There will be considerable expense in terms of recovering the lost data and repairing or replacing affected IT systems

Cyber insurance 101 What is cyber insurance With cybercrime becoming a major threat to businesses across the world, irrespective of their size, cyber insurance is fast becoming a necessity more of a necessity than a choice. However, the concept of cyber insurance is still fairly new and not many SMBs are aware of its benefits. Cyber insurance is an insurance that covers your liability in the event of your business becoming a victim of cybercrime. For example, a data breach puts you at risk of lawsuits, makes you liable to your customers/other parties whose data has been compromised because of/via your organization. Cyber insurance covers the financial aspect of such liabilities, making it easier for you to deal with them. Why do you need cyber insurance Many organizations think of cyber insurance as an added cost. They believe they don’t need it for various reasons. Bigger organizations think their IT security measures are watertight and they won’t fall victim to cybercrime, and they a