One technology that is going to accelerate growth across several industries in the next decade or two is the fifth generation of technology, also known as 5G technology. From transportation to the banking, gaming, sports and even the public sector, 5G will greatly enhance productivity in ways we have never with previous iterations.

Brief History of the Evolution of 5G   

The evolution to 5G by telecom companies has been in the making in the last half a decade as the demand for data by businesses and regular internet users has steadily increased. 

But to understand the evolution of 5G technology, we must first understand where it evolved from. 

The first generation of mobile technology, 1G, built in the late 1970s and 1980s, was all about voice — the ability to use a phone in a car, while shopping or away from home really took root here.

The second generation, 2G, built in the 1990s, was digital, making it possible to encrypt calls, make more efficient use of the wireless spectrum and deliver data transfers on par with dialup internet. 

The third generation, 3G, built in the early noughties, ushered in the evolution of smartphones. The move from 2G to 3G provided the core network speed for these smartphones making regular folks access the internet from anywhere and at any time – albeit at a slow speed – without the need for a computer. 

And the fourth generation, 4G, built in the 2010s, gave us high-speed internet connectivity and birthed the era of online services leading to widespread job creation and disruption of conventional means of running businesses. 

And now, we have 5G technology. The first country to adopt 5G on a large scale was South Korea, in April 2019. Since then, the growth has been somewhat exponential with more countries (Nigeria is set to adopt 5G technology in the coming months this year) adopting at scale.

What is 5G Technology and Why Should We Be Excited About It?

As with all the latest technology of the 21st century – blockchain, the Internet of Things, Self-Driving Cars, Virtual and Augmented Reality and Artificial Intelligence – the concept behind 5G (ease and convenience) isn’t much difficult to decipher. 

5G is the fifth generation of wireless mobile technology with the capacity to deliver faster download speed (as much as 10 times faster than your regular 4G network), much lower latency (capacity to stream 4K high definition videos without a whiff of buffering or slow speed), massive network capacity (support for millions of devices per square kilometre), increased availability and a more uniform user experience to more users.

5G’s connectivity goes beyond just mobile devices. It will essentially be the network that will boost the development of modern technologies like autonomous vehicles, IoTs and Virtual Reality and quickens their adoption. This invariable means, in a nutshell, that 5G is a gamechanger for the future of technology.  Even emerging technologies like Metaverse will depend on 5G technology to run smoothly.

5G speed and other connectivity benefits are expected to make businesses more efficient ( and give consumers access to more information faster than ever before. 

Global Impact of 5G Technology

According to a report by PricewaterhouseCoopers (PWC) in 2019, 5G is projected to add about $1.3 trillion to the global economy by 2030 with the healthcare sector contributing about half of that amount.

This is also expected to add 4.6 million jobs within the same period. This is not surprising when you factor in the industries that will be relying on the 5G network.

Already smartphone companies like Samsung, Apple, Tecno, Huawei and even Google have launched devices that support 5G capabilities. Back home, network giant, MTN are also preparing the groundwork to ensure that Nigeria is ripe for 5G technology.  

Benefits of 5G Technology on Businesses

It is so easy to see the beneficial effects of 5G, especially for businesses looking to scale. Industries like Healthcare, Entertainment, Agriculture and Transportation are already seeing significant gains from the adoption of 5G connectivity. In the long run, all industries will benefit from the adoption of the 5G network once the technology becomes widely spread as oxygen in the atmosphere.

But the underlying question remains. What are the specific benefits for businesses of all sizes? We highlight the 3 most beneficial effects of 5G technology on businesses below:

Better Customer Experience

Speed is by far the most beneficial effect of 5G for businesses. The current average 4G browsing speed runs at an average of 56 Mbps, 5G would bump that speed up to 490 Mbps (almost 10x the speed of 4G). This makes you download heavy videos or files in an instant ensuring delivery of services to customers at lightning speed.

In meetings, advanced capabilities such as virtual reality, which will be powered by 5G connectivity, could become the norm for presentations. Immersive augmented and virtual reality experiences could show customers and others your new product, enabling them to view it virtually, from any angle. 

Or you might leverage your customers’ smart home environment to develop new services and applications that make full use of all the data that surrounds them.

More Productivity

Many of the benefits of adopting 5G technology for your business stems from low latency and high capacity which result in high productivity for your employees. 

With a much more reliable network, your employees will spend less time fretting about connectivity and more time focusing on important tasks.

More Opportunities For Your Business

5G opens the door to new business models that you can create and new products and services you can offer. The ability to collect more data, more quickly, and put it to work for your business and your customers is one of the benefits of 5G for businesses of every size—and may even be the genesis for a transformation of your business model.

Conclusion

The 5G technology era is here, introducing the next generation of smart business applications just as organisations plan how to emerge stronger in the post-pandemic world. 

The potential for impact across industries is enormous, but to realise these gains, companies will need a strategic approach—one underpinned by a clear view of the use cases that will deliver the greatest value over time. 

This is true for both of the key stakeholder groups shaping the future usage of 5G: enterprises and policy-makers. 

One of the biggest buzzwords in the technology space at the moment has to be Cryptocurrency. So big, the entire cryptocurrency space is currently worth $1.72 Trillion as of the time of writing the article. If the cryptocurrency market was a stock market operated by a country, it will be the 18th largest stock exchange by market cap in the world.

But very few know how cryptocurrency works or what it’s used for. According to a recent survey done by Cardify, only 16.9% of investors who have bought crypto “fully understand” the value and potential of cryptocurrency, while 33.5% of buyers have either zero knowledge about the space or would call their level of understanding “emerging.” 

Even fewer know about the larger ecosystem that exists beyond the cryptocurrency space which includes Blockchain, Decentralised Finance, Web3, Smart Contract and so much more.

In this article, we will break down all the terminologies and jargon around the cryptocurrency space into much simpler and more digestible bits using related anecdotes.

ALSO READ: 7 Business Automation Tools To Subscribe To In 2022

Cryptocurrency Acronyms and Terminologies You Must Know in 2022

  1. Nakatamo Satoshi
  2. Blockchain
  3. Bitcoin
  4. Ethereum
  5. Blockchain Wallet
  6. Address
  7. Alt Coin
  8. Shitcoins
  9. Cryptocurrency Exchange
  10. Tokens
  11. Decentralised Finance

Let’s go!  

Nakatamo Satoshi

What better way to start than with the man who is presumed to be the brains behind the creation of Bitcoin, the first cryptocurrency. Many folks in the crypto space believe he’s a pseudonym that represents the original creator(s) of Bitcoin. 

Whatever and wherever he is, dead or alive, the name has made history as being the pioneer of the most disruptive technology innovation at the moment.

Given the price of BTC today, Satoshi would be a billionaire.

In addition, the poor (rich) lad also exists as a token called Satoshi and currently trades on the Coinmarketcap with the price set at $0.000412. 

Blockchain

Blockchain is a combination of computer networks that transparently stores all the information about a crypto transaction. Visualise several series of blocks which contain the information in a space connected by endless chains. 

Blockchain is the technology that powers all cryptocurrency transactions, for without it there won’t be any cryptocurrencies in existence. Its mission is to ‘wrestle power’ from centralised and opaque organisations like banks, government, lawyers, Insurance companies, “omo oniles”, etc and put it in the safe and transparent hands of ordinary folks like you and me, hence decentralising the whole process of money exchange (a classic tale of Robinhood).

Bitcoin

As you probably have noticed, decentralisation is ironically the central theme for cryptocurrency and no other token, coin or terminology represents this theme like Bitcoin. 

Bitcoin is a virtual or digital token that can only be used on the internet. Unlike the physical currencies e.g the US dollar and UK Pound Sterling which are controlled by the government, Bitcoin is controlled by anyone. And like the traditional currencies which are stored in physical wallets, Bitcoin can also be stored in wallets called digital wallets (We will talk more about this).

Bitcoin is the first and most valuable cryptocurrency with the price currently at $44,230. 

Ethereum

Ethereum is the second most popular and valuable cryptocurrency but it has a more unique usage than Bitcoin. 

The former both serves as a medium of exchange and technology within the blockchain where other decentralised applications like Defi, Smart Contracts, NFT can be built on while the latter is only used as a medium of exchange. 

Think of Ethereum as the Gold of cryptocurrency and Bitcoin as the dollar. 

Ethereum can also be referred to as an alternative coin to Bitcoin.

Blockchain Wallet

The blockchain wallet acts the same way as your physical wallet which is used to store cash and cards except it is used online to store digital currencies like Bitcoin. 

It is very secure and can only be accessed by a key unique only to the wallet’s online (unlike the physical wallet that can be ‘accessed’ by boys under the bridge).

Address

An Address is a string of characters in a wallet that can send and receive cryptocurrency. It is synonymous with a real-life address or an email.

Just like a physical address where no two houses can share the same numbers, each address on the blockchain is unique and marks the location of a wallet.

Alt Coins

Short form for alternative coins, Altcoins refer to any type of cryptocurrencies other than Bitcoin. Altcoins were created to serve a much better purpose to cryptocurrency users than Bitcoin. 

Ethereum was the first-ever altcoin created. Other examples of altcoin include Solana, Bitcoin Cash (which is the 3rd most valuable cryptocurrency), XRP, Cardano, etc.

Shitcoins

Shitcoins are altcoins that are fraudulently created and serve no intrinsic value to users. They are truly shitty by every definition of the word. Examples of shitcoins include Dogecoin,  Shiba Inu, Safe Moon, Magic Internet Money, etc.

Cryptocurrency Exchange

Crypto Exchanges are platforms where digital currency owners can buy or sell cryptocurrency coins like Bitcoin, Ethereum, Polygon, Litecoin Solana and the likes. They are two types of Crypto Exchanges:

Centralised Crypto Exchanges – These exchanges are operated by trusted third-party companies where individuals have little or no control over the trading of their digital assets. They are safe but kind of defeat the essence of decentralisation. Examples of centralised crypto exchanges include Binance, Luno, Huobi, Coinbase, etc.

Decentralised Crypto Exchanges – these exchanges grant users total control over their digital assets without involving any third party, think of it as the bundle of cash you keep underneath the mattress or at the dark spot of your wardrobe and use whenever you want. Examples include Uniswap, PancakeSwap, Kine Protocol, etc.

Tokens

Tokens are simply altcoins that have no dedicated blockchain, unlike Bitcoin and Ethereum. They leverage existing blockchain, most commonly Ethereum. They are essentially like coaches that only move once attached to a train engine.

One great advantage about tokens is that cryptocurrencies can be created on an existing blockchain without the need to build a blockchain, just like a coach needing to move on the rail tracks without a need to build a new train engine. 

Decentralised Finance

Defi, short for decentralised finance, is the movement within crypto that removes the control banks and institutions have on money, financial products and financial services. 

It eliminates the fees that banks and other financial companies charge for using their services. This means anyone can lend, borrow and other access financial services just by being connected to the internet without the need for intermediaries like banks.  

More buzzwords pop up daily around the crypto space, but these 11 are some of the most useful and popular terminologies around the cryptocurenccy space.

more organizations are abandoning manual business processes and jumping on the train of automation. According to a 2020 Mckinsey survey of business leaders from a wide cross-section of industries…

cybersecurity software for business

As a business owner, the cost of not investing in cybersecurity is huge. It’s like leaving your car keys on the ignition with your car doors open in a car park while shopping a few kilometres away. It is estimated that over $6 trillion will be lost annually to cybercrime from 2021. That’s more than the proceeds made from the global trade of all major illegal drugs combined.

Table of Content

  1. Importance of Cybersecurity Software
  2. Barracuda Spam Firewall
  3. Fortinet Security Fabric
  4. Google Cloud Security
  5. Intruder
  6. Syxsense Secure
  7. Proofpoint Email Security
  8. Acunetix
  9. Cisco Application – First Security
  10. Netsparker
  11. Sophos
  12. Vipre
  13. Norton Security

Importance of Cybersecurity Software

You might be thinking that hackers in this clime are not as sophisticated as their destructive peers worldwide. Think again! In the last 10 years, Nigeria has lost up to N5.5trillion ($9.7 billion), that’s an average of N550 billion ($9.7 million) every year! Also, Nigerian companies recorded the second-highest percentage (86%) of cyberattacks worldwide behind India last year.

These staggering and scary statistics show that Nigerian businesses are far from immune to cyberattacks, let alone get attacked. This is why companies must set aside not so large a chunk of money to invest in standard cybersecurity software. It doesn’t just protect your company’s assets and data from being stolen but gives your business a fighting chance to last far longer as 60% of small businesses are expected to go out of business within six months of falling victim to a data breach or cyberattack.

Here are 12 powerful cybersecurity software products you can invest in to secure your business:

READ MORE: 6-ways-to-keep-hackers-away-from-your-business.

Barracuda Spam Firewall

One of the increasingly popular and obnoxious ways to gain access illegally to sensitive information of a company is through malicious emails. This can be prevented by the use of the Barracuda Spam Firewall. Barracuda is one of the most popular cybersecurity companies in the world with a lot of security products geared towards protecting businesses from internal and external threats.

Barracuda cybersecurity software for business

The Spam firewall, connected to the Barracuda security cloud, scans internal and external emails and incoming files using three layers of powerful virus scanning technology. Integrating this security software with your company’s

Fortinet Security Fabric

Most times, hackers attempt to hack into your system simultaneously from all angles. To prevent this, you will need a complex integrated security system like the Fortinet Security Fabric.

Fortinet cybersecurity software for business

The FSF is a complex ecosystem of security networks that continuously assesses the risks and automatically adjusts to provide comprehensive real-time protection across the digital attack surface and cycle. The FSF is a great security solution for large enterprises with a vast and deep system.

Google Cloud Security

One of the most efficient and intelligent means of protecting your entire digital assets is Google Cloud Security. From businesses with a single asset like a YouTube channel to businesses with multiple digital assets, Google Cloud Security guarantees the topmost security.

Google cybersecurity software for business

Google Cloud Security quickly detects and halts cyber threats by deploying different solutions which include Security analytics and operations and Web App and API Protection to protect your business from future attacks. Top organizations like Twitter and Evernote have their assets secured with Google Cloud Security.

You can start with Google Cloud Security for free with $300 free credits available for use.

Intruder

Just as the name suggests, the Intruder software is meant to crash the parties of potential hackers by blocking every pathway to an attack. Used by major brands, Intruder is an online vulnerability scanner that finds cyber security weaknesses in a company’s digital infrastructure, to avoid costly data breaches.

Intruder cybersecurity software for business

It also increases productivity as it frees employees to accomplish other important duties. The cybersecurity company claims to scan as many as 50 potential vulnerabilities delivering comprehensive data that can be used to strengthen the security structure of a company.

The software comes with a 30-day free trial. It also includes three pricing plans; the Essential, Pro and Verified plans.

Syxsense Secure

Another cloud-based vulnerability scanner is the Syxsense Secure which provides end-to-end security scanning and usable insights to prevent cyberattacks from unscrupulous individuals or organizations.

syxsense cybersecurity software

Other features from Syxsense secure include Patch everything; a feature that automatically deploys third-party security patches to secure and support major operating systems, Quarantine Devices to block, isolate and kill infected and malicious processes before they spread, and Collaborate with Ease, a feature that enhances collaboration among the IT and security team.

The key selling point of this cybersecurity solution is the ability to combine all these features into one single cloud console.

Syxsense Secure also comes with a 14-day free trial and two pricing plans which are Syxsense Manage and Syxsense Secure.

Proofpoint Email Security

As earlier alluded to in this article, email remains the most vulnerable source of cyberattack for large and small scale businesses around the world. According to a Trend Micro report, 94% of targeted emails use malicious file attachments as an infection source. Also, 91% of cyberattacks begin with a ‘spear-phishing email, one of the most sophisticated ways cybercriminals steal sensitive information.

Proofpoint cybersecurity software

Hence, the need for a cybersecurity solution like Proofpoint Email Security which deploys Machine Learning enabled technology to catch both known and unknown threats missed by others.

The software also detects and blocks threats that don’t involve malicious payload, such as impostor email—also known as business email compromise (BEC), a favourite for cybercriminals.

There is no visible pricing on its website, but a contact form is available to fill.

Acunetix

Aside from Google Cloud Security which is arguably the most complete web and API security software out there, Acunetix offers a great option for businesses looking to secure their websites, web applications, and APIs. It also offers actionable insights after performing a deep scan of all web pages and complex web applications.

Acunetix cybersecurity software

It is an intuitive and easy-to-use solution with functionalities like scheduling full/incremental scans and seamless integration to other software like Azure and Github.

It can be used by both small businesses and large enterprises. It comes in three pricing plans; standard, premium, and Acunetix 360. A demo can be requested.

Cisco Application – First Security

Most cybersecurity companies tend to offer a one size fits all approach for businesses looking to secure their online and offline assets which might not necessarily speak to the latter’s individual security needs. But Cisco Application – First Security offers different layers of cybersecurity approach that is closer, continuous and adaptive.

Cisco cybersecurity software for business

The different layers or products include Cisco Secure Workload which offers automated protection micro-segmentation based on recommended policies tailored to your applications, Cisco Secure Cloud Analytics which detect and respond to advanced threats across private and public cloud networks, Cisco secure Access which Establish user-device trust and highly secure access to applications, AppDynamics which performs monitoring and deep insight into transaction behaviour and metrics for applications running in public and private cloud environments and finally Cisco Secure Application which prevent and detect application vulnerabilities across your digital business.

The Cisco Application – First security’s adaptability to different cybersecurity needs makes it a go-to choice for big and small enterprises alike.

Netsparker

One of the best cybersecurity automation tools for software companies out there has to be the Netsparker. The tool’s unique dynamic and interactive scanning capabilities are top-notch amongst its peers.

Netsparker cybersecurity software

Netsparker offers features and functionalities for automating the security testing throughout the software development life cycle (SDLC). These features save a huge number of hours for team members, identify vulnerabilities that matter, and help security and development teams get ahead of their workload.

Netsparker claims they consistently identify more vulnerabilities and return fewer false positives than other scanning tools.

Another unique offering from the application is its capacity to perform comprehensive scanning while detecting vulnerabilities within a very short time. It also assists developers with actionable feedback that helps them produce more secure code meaning less work for your security team.

As earlier mentioned, the Netsparker tool is incredible for software companies looking to protect their assets throughout the SDLC.

Sophos

Sophos tagline says it all “Sophos stops Ransomware”. Just the kind of messaging that will get companies chomping at the subscribe button.

Sophos cybersecurity software

The British-based security software company, through its unique security products, offers protection against known and unknown malware, spyware, intrusions, unwanted applications, spam, policy abuse, and data leakage and also provides a comprehensive network access control to businesses.

Some of these products include Sophos XDR which can intercept and investigate threats across endpoints, servers, firewalls, and other data sources, Sophos MTR which automatically neutralizes the most sophisticated threats, Sophos Cloud Optix, Sophos Emails, Sophos Phish Threat, etc.

A free trial is available for businesses looking to test the waters.

Vipre

Viper is one of the oldest security software companies out there, and like new wine in an old bottle, they’ve been able to adapt to the changing cybersecurity landscape to remain one of the go-to security platforms.

Vipre cybersecurity software

They offer comprehensive layered protections that cater to both personal and business needs. Some of the features Vipre offer include simplified solutions to protect businesses from online threats and data risks, an all-inclusive package and scalable pricing, unparalleled protection for email and endpoint security with the help of AI technology, and a fully integrated solution that is easy to deploy and manage.

Vipre business protection which is suitable for large and medium and small scale enterprises alike is available in three pricing plans i.e. Core Defense ($96 per user per year), Edge Defense ($96 per user per year), and Complete Defense ($144 per user per year).

Norton Security

Norton has evolved over the years from being seen as just an antivirus software to an all-inclusive cybersecurity company. In addition to the aforementioned Antivirus, the company offers different cybersecurity solutions such as Virus Removal, Malware Protection, Cloud Backup, Password Manager, and Secure VPN. It also offers an extra layer of protection for gamers, an interesting distinction from the rest on this list.

Norton cybersecurity software

Other features include five-layer protection for recognizing and blocking threats, cloud backup services that can store and protect files and documents, a simple, secure, and smart solution for managing passwords, a secure Norton VPN that helps block hackers from seeing what you do online and a series of Norton 360 plans.

Norton is suitable for all businesses looking for top-level digital protection and provides a 30-day free trial for Antivirus while the price for Norton 360 starts at $9.99 for the first 3 months.

Conclusion

It’s digitally suicidal if you don’t have your online assets protected by any of this cybersecurity software on the list. Thankfully, Descasio has got you covered. We’ve partnered with some of these security companies that can comprehensively secure your entire digital assets at the most favourable pricing.

Ways to prevent hackers

Table of Content

  1. The Consequences of Cyber Attack
  2. Hacker Apocalypse
  3. It’s Coming Home
  4. Multi-Factor Authentication
  5. Don’t Click That Link
  6. Invest in Security Software
  7. Training Training Training
  8. Encryption is Key
  9. Watch Your Employees

A couple of years ago, a friend of mine, a young versatile entrepreneur, had launched a revolutionary financial product to bridge the credit gap for the unbanked. His product gained incredible traction in the first year with over 100,000 users downloading the app and a million naira in processing.

Unfortunately, a chink was found in the company’s armoury unexpectedly halting my friend’s upward trajectory. The company’s database was hacked, wiping out its entire financial records and customer base.

What is a Cyber Attack?

A cyberattack is an attempt to steal, alter, or destroy a specified target by hacking into a susceptible system. According to Wikipedia, cyberattacks can range from installing spyware on a personal computer to attempting to destroy the infrastructure of entire nations.

The Consequences of CyberAttack

Twenty one years into a much more digitized century, a million and one online tools have popped up for big and small companies to optimize regular work processes with.

The cost incurred from a cyberattack or a data breach is mind-blowing. According to a report from Atlas VPN, over $1trillion (N504 trillion) was spent on cybersecurity or given up as a result of a cyberattack in 2020 (this cost was exacerbated by the COVID 19 pandemic).

And this is not abating any time soon. Cybersecurity Ventures, a cybersecurity research firm, expects global cybercrime costs to grow by 15 per cent per year over the next five years, reaching $10.5 trillion annually by 2025 (more than 10x the expected GDP of Nigeria in 2025).

Hackerpocalypse

These staggering stats only point to one thing; companies all over the world are losing the cyberwar to hackers, most especially small and medium-sized corporations where it is estimated that 60 per cent go out of business within six months of falling victim to a data breach or cyber attack.

Already, 1 in 6 companies pays a ransom to hackers according to the annual Hiscox Cyber Readiness Report.

READ: Top Reports On Data Security Issues In 2020

It’s Coming Home

Back home in Nigeria, the statistics are grim as well. According to a British software and hardware company report, Nigerian companies recorded the second-highest percentage (86% were targeted by hackers) of cyberattacks worldwide behind India last year. In 2019, a report by Serianu, an IT Services and Consulting firm, Nigeria lost $649 million (N327.1 billion) to cybercrime.

This shows that Nigeria, and in extension, Africa isn’t insulated from this ongoing cyberwar. Africa is increasingly the target of cyber espionage, making it imperative for businesses across the continent to find effective ways to protect their assets from would-be hackers.

Here are 6 easy ways businesses can avoid being hacked:

1. Multi-Factor Authentication

The easiest and most popular way to breach a company’s backend is through password theft. According to a 2020 Verizon data report, 81% of the total number of breaches leveraged stolen or weak passwords. Also, in a breach report done in 2019, over 1 million passwords are stolen every day. What’s worse is most hackers do the bare minimum to hack these passwords. When it comes to password security, all a hacker needs is an employee’s insistence on being the weak link (you know what they say about the weakest link?).

Thank goodness there are ways a company can guard against such monstrous vulnerabilities and one of them is the use of Multifactor Authentication like Google and Microsoft Authenticator to help stave off would-be snoopers. In addition, employers can put in place second-level security protection like tokens and biometrics for their employees.

2. Don’t Click That Link

Employees are daily bombarded with emails, but quite a lot of them are intended to steal sensitive information. This is called phishing, which tricks victims into revealing vital and personal information to the attacker. Phishing attacks are increasingly becoming the norm. A 2019 Verizon Data Breach Investigation Report estimated that 94% of malware are delivered via email while in a 2019 report done by Symantec Internet Security Threat Report, 48% of email attacks are office files.

This makes it imperative for businesses to adopt anti-phishing strategies to guard against regular phishing attacks. Some of these strategies could include using more sophisticated anti-phishing filters, user training for employees to recognize phishing attempts and deal with them immediately, setting up firewalls and security measures.

Most importantly, employees and business owners should learn NOT to click on a link or download any file until sure!

3. Invest in Security Software

ways to prevent hackers

Investing in cybersecurity software and firms is a no-brainer for businesses and organizations looking for a holistic approach to protect their data, especially in a year where global spending on cybersecurity is expected to exceed $1 trillion. This is more pertinent for small businesses as they are more prone to data breaches.

A trusted anti-spyware will limit a company’s exposure to snoopers by quickly detecting malicious applications.

4. Training Training Training!

You can spend all the gazillion dollars you have on anti-spyware software but if your employees aren’t versatile enough to quickly detect or identify malicious links or are careless with their company’s credentials, your business will always be susceptible to cyberattacks.

According to an IBM study, over 95% of cybersecurity breaches are due to non-IT-related human error. This means for every 10 breaches that occur in a company, only 0.5 are due to non-human error.

This makes training of employees in basic cybersecurity very imperative. Employees must understand what a malicious attack looks like and must be careful enough not to disclose confidential details to third parties.

5. Encryption is the Key

Except you are trying to cyber spy on North Korea or into the espionage business in general, you don’t need high-level complex encryption to protect your business from cyber-attacks. However, you still need standard level encryption for your data and entire work process to keep the low life, online snoopers, away.

If you don’t already know, encryption is the process of converting information or data into a code, especially to prevent unauthorized access. Encryption plays its most important role when two parties intend to exchange confidential information across digital platforms.

Think of it as Harry Potter’s invisibility cloak or switching on stealth mode in the middle of a splinter cell mission. Your messages will travel right through the noses of ill-intentioned parties and stay undetected.

6. Watch Your Employees!

Your employees are the heartbeat of the company. On the flip side, they can also act as the death knell to a company by contributing, either deliberately or inadvertently, to its downfall through cyberattacks.

To guard against this, avoid/limit the sharing of very sensitive data to your staff. If you must share this data, ensure you plug all potential leakages. If possible, create a sort of ‘Watch System’ for your staff, but this must not impugn their rights to privacy.

Most importantly, put a premium on employing the right and trusted person who will do nothing to sabotage your business which includes subjecting it to cyber hacks.

Conclusion

In conclusion, you need to ask yourself a brutal question; can your business withstand a cyberattack without collapsing under the wave? If your answer is a no or a wimpy yes, then you need to adopt some of (if not all) the cybersecurity solutions in this article.

In this digital age where information can be linked and duplicated, protecting your information can never be overemphasized.

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For over a decade, Unity Bank Plc has served individuals, businesses, and the public sector of Nigeria’s economy in the areas of investment, savings, and other retail banking operations, from over 200 locations within the country and with its team of more than 2,000 employees.

In delivering optimal service to its customers, the bank has the obligation to ensure that responses to customer demands are right on time. This, to a large extent, helps to guarantee customer retention and secure word of mouth publicity which has proven to be the best form of advertisement, having the ability to increase customer loyalty by 16 to 24% according to the Wharton School of Business.

The impact of delays in service delivery goes beyond affecting public reputation but can also lead to loss of revenue, which was the case for Unity Bank. “Whenever there is downtime from our datacenter, there is always a major impact on the business group services running on the server. This directly impacts the delivery timelines of our services to our customers and invariably translates to a loss of revenue of over $10,000 per hour when the recovery process is not managed effectively.” said, Ugochukwu Aku, Head, IT Infrastructure, Unity Bank.

Although a lot of manual work was put into managing our applications at every event of downtimes, it wasn’t enough to meet the business objective.
In addition to this, the bank spent a lot of time and money on the procurement of additional hardware to meet the demands for hosting new products and services geared towards catering to the needs of its customers.

The problems encountered by Unity Bank pointed clearly to the need of hosting its core critical application on a cloud-based solution, one that Descasio had the requisite competency for providing.

Unity bank came to learn of this competency when Descasio approached them with an Application Modernization workshop which was set up in collaboration with Microsoft.

“During the online workshop, Descasio showcased the value of having a seamless solution that requires less human input and delivers in a timely fashion. Descasio also showed the flexibility and reliability of hosting our application on Microsoft Azure.”
“We reviewed Descasio’s proposition of migrating our application to Azure alongside other business continuity processes at the time and came to a conclusion that Azure presented more value.” Explained Ugochukwu.

The Result

Since the migration to Microsoft Azure App Services, Unity Bank has been able to meet several of its objectives. Primarily, they have been able to overcome the management burden that previously existed when the app was hosted in their on-premise infrastructure. This has translated to the provision of a more solidified service experience to customers and a huge reduction in losses as a result of downtimes.

Speaking on other benefits of Microsoft Azure app services to the financial institution, Ugochukwu said, “This solution really helped us in having successful app deployments. Unity Bank has also enjoyed easy scalability as they can now develop new applications and scale resources to meet the demands with ease and in no time. Ultimately the solution has helped us to improve our overall business performance at a reduced cost.

“Today, our IT team has more time to focus on other directly related bank projects as most of the previous issues we have had as regards applications sitting on physical infrastructures are now being taken care of.”

Commenting on the bank’s experience with Descasio, Ugochukwu said “Descasio was not picked based on preference or relationship, they were picked by the bank based on competency shown with the deployment of app services. We as an organization ensure to work with competent partners as this directly translates to the quality of service delivered to our client.”

“We have enjoyed great customer experience, an excellent display of product knowledge, and an utterly reliable service delivery from Descasio and will recommend both Descasio and Microsoft to all organizations looking to implement an effective, secure, and reliable IT solution as we have,” he added.

Not only is your business growing, but technology is advancing at a rapid rate. Which means knowing if it’s time to upgrade to a new IT system is key to protecting the future of your business. Here are four ways to know if your organization is ready for an upgrade.

Your Response Time is Lagging: If users are waiting too long for the system to respond – or if the system often crashes – then it is being overworked and overloaded. Downtime costs small-to-midsize businesses thousands of naira per hour and will hamper employee productivity.

Your cybersecurity is lax: According to the official cybercrime, report cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. A Symantec study found that more than a third of all reported targeted attacks in 2014 were against small businesses. The emerging patterns show that cybercriminals will often target small and medium-sized businesses because they usually do not have the expertise or resources to fend them off. If your websites are consistently down and your staff are not security conscious then you may have a problem.

You can’t grow: As the organization grows, and the data that you store also grows, so too should your systems. If you add new products or expand your client portfolio, then this necessitates the expansion of your data warehousing system. In turn, the reporting functionality within your software must be dynamic and keep up with the pace of your past changing and vibrant business.

Everyone is complaining: Grumbling from employees and customers about delays, clunky processes, and tedious manual tasks means you have a big problem and it is absolutely time to reevaluate your IT infrastructure. Innovative software such as Microsoft Office 365 can help streamline your workflow and automating other processes can help keep customers to employees satisfied.

Final note: Ultimately, without updating your technology, you risk falling behind to competitors, while paying too much to keep your old systems alive or disappointing your clients. To future-proof your business and stay productive, you’ll need to embrace more modern technologies. The cloud can offer your firm space to grow, reliable uptime, flexible working, and cost-effective billing. It’s the freedom you need to do your best work efficiently. Want to find out more? Get in touch with our team.