Better Safe than Sorry

Better safe than sorry. Right?
In business I always say “better proactive than putting out fires and losing hard earned revenue”.

We can never assume that business owners have the time or experience to run “what if” scenarios and their possible solutions before writing their operational guidelines and have a solid plan B in place.

  • What kind of payments do you accept online?
    Do you know the differences and risks involved between Bank accounts, credit/debit cards, and your clients?
    I have witnessed back ends being compromised, which put all customers in jeopardy, because the “X” company only accepted bank account payments. The company owner had to pay millions of dollars in compensations. IF the company had agreed to accept credit/debit cards, the customers would have been able with one click to block their cards, and their bank account information would have never been compromised.
  • Does your CFO have an offline plan B for your company’s financial data?
    Even QuickBooks online can have issues at some point. Do you feel safe as a business owner to have every detail of your company’s financial data out there for hackers?
  • Do you have a clear policy about your team’s internet usage in the office?
    Your servers and internet are not there to protect your team’s phones and Facebook accounts, but your COMPANY’S.
    Down time and breaks are fine. But take into consideration that not every employee knows how to navigate the internet safely. One employee opened a phishing email without knowing how to avoid it, and the entire company’s online infrastructure got compromised. Your Wi-Fi or internet connection should not be used for personal usage.
  • If you sell actual products and make money online, do you have your back end set up to block unauthorized resellers, fraudulent purchases, and chargebacks?
    AI is not your iron clad answer. A dedicated team member has to check purchases and payments, and inform your IT team to block certain IP addresses, emails and buyers from being able to purchase again. Also stolen credit cards that will end up as complaint emails asking for refunds. Teach your team members what this all entails, so you can keep your hard-earned revenue.
  • Do you implement an official Password Policy at your company?
    NO employee can, or is allowed, to use a password to access company email, Slack, QuickBooks, back end, or anything else with a password that is being used for their private emails, social media, banking or anything else outside the company!
    In this day and age, a lot of people still think that using one password for everything is safe. NO! It is not. Passwords are being compromised daily. Why endanger your company’s infrastructure? Ask every team member to use specific and different passwords for work related access.
  • What safety plans do you have in place for remote employees and online interaction with your company?
    This is another complicated issue. Most remote employees use their home computers to work, while having social media, and personal email tabs open. While working, they should log out of everything personal and ONLY use work related internet. After work, they should ALWAYS delete search history, cookies, and online activity. The best option would be for every remote employee to have a company’s laptop that should be used ONLY for work.
  • Does your online presence portray EXACTLY what it is you are offering or selling?
    A lot of companies try to over-promise only to regret it later. The consumer is used to instant gratification. If what they receive is not 100% exactly as you portray online, they start asking for refunds, write negative comments about your company, and in the end, you lose revenue and reputation (which is a very strong ally for your future success).

 

 

Author: Mariella Stockmal

Dynamic results driven, Management and Consulting for: Business Risks, Operational Risks, and Fraud Protection

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