Why Microsoft 365 Data Protection is Essential

Microsoft 365 data protection

Probably, there is not a single person in the entire universe who doesn’t know what Microsoft Office is. It became pretty much essential for businesses all over the world because it allows people to interact over emails, create documents and manage spreadsheets.  

Why Microsoft Office is so popular?  

  • Workflow made easy 

You have all applications you could possible need to successfully operate a business.  

  • Become a better worker 

You will get a great organization of your work which is easily accessible and maintained. Always be on top of tasks and projects.  

  • Go beyond your skills 

Wide range of applications makes you go beyond what you already know or can do. You can become creative in using the apps and innovate your way of doing things. Try the White Board in Teams or make Planner your progress tracker. 

With continuous Internet expansion and emerging new ways of operating, Microsoft introduced Office 365 and recently renamed it to Microsoft 365.  This is the same well-known suite of software stored in the Cloud and managed by subscription. Due to obvious benefits, such as opportunity to work from home and having data accessible from anywhere anytime, it became an endorsed solution for most companies.  

Do You Get Data Security with Microsoft 365? 

Microsoft 365 gives a great benefit of storing and accessing your data from anywhere, but does it provide data security? In fact, it does not. While you get infrastructure-level security, which includes physical, logical, app-level, user/admin controls, you still need to provide security on the data-level yourself.  

Data security is essential because you don’t want to ever lose critical data due to failure, disaster or attack. With this combined responsibility model, you are in charge of protecting your business data against internal breaches and external threats. To secure your data, you can set up back-up schedule and store it in a safe location. Actually, this is easily achievable with help of a Managed IT Services Provider (MSP). We know how to secure your data and not let it disappear or get corrupted. Get a Proposal Now or give us a call at +1(888)959-1196. You can also send us a message at info@klik.solutions. We know how to help! 

How the financial industry is vulnerable to cyber attacks

Financial Cyber Attacks

The financial industry is a very attractive target for cyberattacks. As of today, we know a couple of extremely “successful” International attacks. For example, in 2016, a hacker attack cost Bangladesh’s Central Bank $100 million. The same year, the Russian Central Bank lost $31 million. Since then, cybersecurity concerns are just growing and hackers’ interest is increasing. With the increased threat, the need for better cybersecurity became critical. 

Cyberattacks can be damaging in many ways: 

1. Damage can be as much as half of the profit 

According to the International Monetary Fund, banks can lose from 9% to 50% of their profit due to cyber-attacks.   

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2. The damage spreads beyond just one company 

Since the financial industry is interconnected and involves third parties and partners, financial losses of one institution can affect all of them making damage collateral, spreading widely. 

3. Threat to reputation  

When security is breached in the financial sector, people are less likely to trust that institution. OnePoll reported that more than 86% of responders were “not at all likely” or “not very likely” to do business with an organization that went through a data breach involving finances.  

4. Attacks are no joke and can be lethal  

Company size does not matter for hackers, but if you are a small financial institution, cyberattacks could become lethal. Attackers are very likely to find you as an easy target with less advanced security (due to limited funds).  Hackers can can paralyze the organization leaving it with no money to operate.    

Cybersecurity threats are serious and very risky to every company around the globe. Financial institutions are at higher risk since they have a huge capital amount to maintain and manage. What can be done is understanding the risks and protecting yourself from cyber-attacks.   

Klik Solutions is experienced in providing cybersecurity to many different companies in the financial sector. Get a Proposal Now or call us at +1 (888)959-1196. You can also send us a message at info@klik.solutions. We are here to help!