Cyber Security – Dutch Uncles

Attempting D2C? You Need to Consider these 5 Things

Anju Nambiar — Fri, 02 Jul 2021 04:52:26 +0000

Brands across numerous industry segments mainly skincare, FMCG and F&B like gourmet coffees, packaged frozen foods, lifestyle and consumer tech, luxe health and wellness are attempting D2C and are successful at it. Although these product ranges are mid-high priced, they are successfully capturing consumers from Tier II and Tier III cities through D2C. Instagram ads of D2C online shopping websites, and listing products directly on social commerce platforms like Shopify are attracting huge traffic and purchases for small brands.

Benefits of going D2C and its need

Going D2C during the current pandemic is beneficial because people are confined to their living spaces and the most popular activity during lockdowns is to order for products online. Businesses across various industries can experience improved bottom lines by taking the D2C route. Digital infrastructure has given rise to the trend of quick one-tap buying of products online since customers need to fulfil their cravings and desire to get their favourite products home delivered during lockdowns.

Manufacturers now taking the direct selling route

Brands and manufacturers see D2C as an easy channel to sell products on a global scale. The first step to taking the direct selling route is to become a digital first brand. Consumer behaviour has taken a paradigm shift in the recent past. Social distancing has forced people to purchase a range of goods through online channels. Digital mediums are heavily influencing the decision-making process of online shoppers. Manufacturers and brands thus began taking the direct selling route to meet the high demand. There has also been a shift in consumption demographics with more demand coming from women shoppers belonging to Tier II and III cities. Traditional retailers and manufacturers are thus jumping in to take a piece of the cake.

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Businesses across various industries can experience improved bottom lines by taking the D2C route

5 Things to Consider when going D2C

Why Customers should buy from you directly

While going to D2C, you need to rebuild your brand by investing in community building, new products, and technology. You need to build trust with your consumers and offer them a deep connection with your brand. Strategic brand investments build a strong position for customers to buy from you directly. To encourage customers, you need to have an e-commerce strategy which does not only involve creating a website.

Online Infrastructure

Online infrastructure needed for D2C includes an Operating System which will be a combination of product, technology, and e-commerce expertise. You need to have strong sourcing, design, digital marketing, and inventory management capabilities.

Investing in Traffic

You need to consider whether you can invest in traffic for customers to directly shop from you. Unlike a few years ago, brands invested in television ads to market their products and create traffic. Now this practice is not necessary. However, there are already marketplaces with large distribution networks like Amazon, Flipkart, and Nykaa. If you’d rather create your own technology to replace the need for relying on them, you need to consider whether you have enough investment for the same.

Data

When it comes to order fulfilment, D2C brands have the responsibility of data management, stocks, inventory, and forecasting. Since order fulfilment completely falls on your shoulders, you need to navigate challenges of stockpiling and catalogue management. You also need to have technology that can make accurate order forecasts, based on which you need to make appropriate production planning.

Security

When you operate your own D2C selling channel through a website, app, etc., security becomes an important area of concern. Cyber attacks are rampant on small e-commerce firms, and data breaches have become commonplace. New websites suffer from endless brute force attacks. You need to consider whether you have the bandwidth to incorporate a dedicated cyber security team and capital for data security technology. While setting up a payment gateway, you will no doubt be dealing with storage of customer payment information. Security is thus a critical factor to consider.

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Astra Security is Securing Businesses’ Websites from Malware and Hackers With New SaaS Security Solutions

Aakash Sharma — Fri, 11 Jun 2021 06:35:03 +0000

Astra Security is a network and cybersecurity company that provides SaaS solutions under its Astra Security Suite in the form of firewall, malware scanner, vulnerability scanner for websites, mobile apps and APIs. Shikhil Sharma and Ananda Krishna founded the company in 2018 in the United States.

Astra Security is a leader in network security and has recently introduced state-of-the-art technical security measures. The start-up has recently launched an exclusive programme to help Astra Security users increase cyber transparency and confidence in their customers and potential partners.

This innovative new feature is part of the company’s latest product, Pentest Suite. It is a Software-as-a-Service (SaaS) solution that provides hacker-style security testing for applications and meets standard compliance requirements for small and large online businesses.

Astra Security – The New SaaS Solution for Security

Astra Security’s new Pentest panel provides users with more options and information, such as 1,500 test cases, developer collaboration, CXO analysis, certificate downloads, assessments of potential risks based on risks, etc.

In the current situation, many companies are working to provide their potential customers with unique services mixed with the safest measures. Hence, regardless of the size of an organisation, they are rapidly moving towards affiliations with a publicly verified company that meets all required cybersecurity standards.

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Astra Security is seeing a growing interest for its cyber safety resolutions from start-ups. The start-up's plans include managing internet security and payment exceeding set thresholds

Astra Security is Addressing Industry’s Growing Security Concerns

With the boost in online services and pandemic induced widespread digitisation over the past year, consumers are becoming more aware of online safety. With increased sensitivity toward cybersecurity, customers want to be involved with companies that have passed online safety tests and inspections. It is, therefore, becoming all the more critical for companies of all sizes, who have an online presence, to protect the interests of their customers.

Additionally, as the number of cyber-attacks continues to increase, businesses are increasingly recognising their responsibility to perform defensive functions for themselves and the victims of cyberattacks. According to a recent risk-based security report, hackers exposed 36 billion files to data breaches between the first and third quarters of 2020, and malware usage increased by 358% in 2020.

Astra Security is playing a vital role in maintaining cybersecurity and going one step further by issuing verifiable cybersecurity certificates. Today, start-ups in the segment must meet industry needs by translating the needs of consumers into solutions based on their concerns. Astra Security understands current sensitivities and is committed to bringing products to market that provide a seamless and secure customer experience.

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5 Ways to Prevent Data Breach on your E-commerce Platform

Anju Nambiar — Wed, 02 Jun 2021 08:35:04 +0000

The dark web is a dark place where many unspeakable transactions occur. But its existence is posing a threat to any form of semblance to the world wide web. E-commerce businesses need to prioritise cyberattack protection, especially since the Indian e-commerce sector is exploding with new entrants to the market every single day.

Investing in robust cybersecurity infrastructure

Single-click checkouts are very popular among Indian e-commerce consumers since the volume and frequency of online orders is so rampant. New e-commerce businesses need to prioritise investing in a robust cybersecurity infrastructure before collecting users’ sensitive personal and bank information.

Mandatory Reporting Mechanism

Incorporate a mandatory reporting mechanism of data breaches and cyberattacks for your e-commerce company as part of your business policy. Doing this will create a sense of ownership within your organisation about protecting sensitive personal and financial information of key stakeholders.

Increase percentage of cybersecurity investment in your IT budget

Restructure your IT budgets and prioritise cybersecurity as a major chunk of your investment. The remote work model combined with the economic constraints calls for higher investment in security.

Deploy key cybersecurity technologies

Technology solutions like ZTNA (Zero Trust Network Access), DLP (Data Loss Prevention), and XDR (Extended Detection and Response) are key in securing your e-commerce platform from malicious hackers online.

Improve your security posture

If your e-commerce store regularly deals with customer data including address, phone number, emails and credit card details, you should take steps to improve your security posture. Invest in security posture management technology to keep a safe bubble around your end consumers’ data amidst high volume of digital transactions.

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New e-commerce businesses need to prioritise investing in a robust cybersecurity infrastructure before collecting users’ sensitive personal and bank information.

What’s in it for me?

In April of this year, a database of over 10 crore MobiKwik users was posted on the dark web. These attacks are steadily becoming more rampant as top corporations like Air India and Jubilant Foodworks’ Dominos Pizza also suffered a similar data breach. What’s interesting to note is that the same hacker has breached both MobiKwik and Dominos’ databases.

Experts state that hackers are increasingly targeting start-ups mostly because of their naivety and obvious lack of advanced security measures. The biggest start-up names like BigBasket and Upstox are being hacked and small websites like e-commerce portals are most vulnerable to such threat actors. Since most e-commerce portals are interconnected in terms of user info, a breach on one may threaten the security of another.

Follow a proper security structure and methodology and ensure to collect only vital customer information. A lot of times, small e-commerce firms collect unnecessary details for opt-ins and subscriptions to newsletters. The less information you store, the more you can safeguard the integrity of your website as well as your customers. If your site has a payment gateway, which most e-commerce companies have, RBI has mandated that you are not allowed to store payment and credit card information. As a precautionary measure, you should comply until investing in cybersecurity technology is a possibility for your firm.

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Upcoming Fintech Webinars and Online Events in India

Anju Nambiar — Tue, 01 Jun 2021 03:35:04 +0000

There are a number of exciting webinars and online events lined up for the Fintech Industry for the remainder of 2021. Here are 10 of the most prospective virtual events for India:

Fintech Meetup

This virtual event is an online meeting for professionals. Scheduled between the 15-17 June 2021, Fintech Meetup is a unique event where about 15,000 double opt-in, one-on-one virtual meetings will be conducted. Fintech Meetup will be attended by 2000 professionals. It’s an opportunity to network with the payments, banking and financial service community for collaboration on several avenues. Through 1-1’s and peer group conversations titled ‘TableTalks’, you can connect with business prospects, showcase your products/services, invest, or raise funds for start-ups, bag mergers and acquisitions, etc.

ASEAN Fintech Forum

The ASEAN (Association of Southeast Asian Nations) Fintech Forum is an online event taking place on the 6th of July 2021. This virtual conference is occurring in partnership with Amazon Web Services (AWS). Topics of discussion include fintech movements, financial inclusion, regulatory trends and compliance, AI/ML in Fintech, Blockchain, etc.

Finnovate Asia

Finnovate Asia is an online virtual event scheduled between 22-23 June 2021. It’s a unique event that is focused on innovation in the industry and key trends in Asia. The prospective topics of discussion include Digital Banking, the future of payments, embedded finance, cross border payments systems, and more.

Fintech Connect

Fintech Connect 2021 is focused on the Global Fintech Ecosystem and will commence on the 3rd of November to conclude on the 2nd of December 2021. An online event, it will see participation from over 80 countries and will feature Mukund Umalkar, Head of RegTech Partnerships, ING on the RegTech advisory board. The spotlight of the event is on digital transformation in the banking, insurance, and payments sectors. Key areas of focus include PayTech, Blockchain, and RegTech.

Fintech India Expo

Scheduled between the 23-25 March 2022, Fintech India Expo is an event taking place at Pragati Maidan, New Delhi, and which will feature a ‘Phygital’ conference encompassing several virtual conference programmes alongside physical conferences. Several discussions have been planned for the event on Blockchain, Digital Lending, Fraud & Cybersecurity, Robotic Process Automation (RPA), Machine Learning (ML) for Financial Regulators, and Financial Services in the IoT era.

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NBFC100 is a virtual summit which will take place on July 9, 2021. This is a single day confluence which will feature discussions on the role of technology in finance, RBI Support, re-strategizing business amidst the second wave, liquidity concerns, and more.

Building Financial Resilience

Building Financial Resilience is an upcoming webinar on securing investments amidst economic uncertainty. It will be conducted by ICICI Prudential and will feature Manish Kumar, Chief Investment Officer at ICICI Prudential. It’s an invite only webinar and key topics of discussion will include financial instruments to be invested in, personal financial decisions, and investment options.

The Future of Finance

The Future of Finance is a free, virtual event that will take place on the 8th of June, 2021. Topics of discussion will include Digital Transformation in Banking, Crypto, Polished Payment Options, and Sustainable Investing. The event will feature speakers from leading financial institutions like Bank of America, American Express, Grayscale Investments, etc.

Fintech Festival India 2022

Occurring between 9 – 11 March 2022 at IICC Dwarka, New Delhi, the Fintech Festival India is a hybrid event which will feature multi-city hybrid micro experiences on payment solutions, credit scoring platforms, P2P lending, financial planning, and billing solutions.

NBFC100 Tech Summit

NBFC100 is a virtual summit which will take place on the 9th of July 2021. This is a single day confluence which will feature discussions on the role of technology in finance, RBI Support, re-strategizing business amidst the second wave, liquidity concerns, and more. Attendance is recommenced for technology solution providers, start-ups, and CXOs.

Global Fintech Fest

A virtual event, the Global Fintech Fest will be taking place between 1-3 June 2021. It will feature discussions on Policy, Business, Investment, and DeepTech with Fintech as the common theme. It will see attendance from the biggest thought leaders in the industry.

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How AI can Save Enterprise Technology Start-ups from Ransomware Attacks?

Shalmoli Sarkar — Mon, 17 May 2021 06:05:04 +0000

The National Highways Authority of India (NHAI) fell prey to ransomware attacks in the past year by Maze Ransomware on 29 June 2020. The cyber assault scooped 43 GB of data. The attack continued on 2 July 2021 as well where the cybercriminals exposed 2GB of the data on the dark web leaking sensitive documents about the staff, a passport copy of the former chairman of NHAI, details of employee families and internal audit reports. Other organisations such as Apollo Tyres, India Bulls and Delhi Medical Council could not shield themselves from ransomware attacks. Such cases are just the tip of the iceberg! According to the 2021 X-Force Threat Intelligence Index released by IBM Security, ransomware attacks roughly comprised 40 percent of the total cyber assault in India in 2020. Amid the pandemic, India experienced a 31 percent spike in ransomware attacks as per a report by Chennai-based Cyber Security Works (CSW), a leader in Attack Surface Management (ASM). This begs the question of why Indian companies are falling vulnerable to ransomware attacks?

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India experienced a 31 percent spike in ransomware attacks as per a report by Chennai-based Cyber Security Works (CSW)

Decoding the Ransomware Attack

Ransomware attacks involve malware intruding the systems that encrypts files on a device or network resulting in the system becoming inoperable. Cyber criminals behind these types of cyberattacks typically demand a ransom amount in exchange for the release of data.

As businesses move to building their tech capabilities, attackers have gone beyond than just asking a ransom in return. They threaten the organisation about disclosing the data to the public and push them to pay more. With this kind of threat, the victims who might even have a backup of the original data may end up paying huge ransoms because of the fear of leakage of their sensitive enterprise data on the internet. This technique is called double extortion.

Why Ransomware attacks are on the rise?

As social distancing nudged the workforce indoors, companies continued to operate from home without a robust cybersecurity infrastructure. Hackers found it easier to intrude into the system with weak passwords, remote access kept open for longer hours and networks not being protected by VPN. This demands a robust IT infrastructure to protect enterprises against attackers.

How AI can drive away Ransomware attacks

AI can drive away ransomware attacks, first by weeding out constant list updates and identifying malicious files on the spot. By collecting a huge number of good and bad files, we can extract the characteristics to determine what is a suspicious file or a good file and then produce an algorithm that can accurately classify the file for subsequent actions.

In the future AI can detect any form of malware that it has detected before. Even if there is a tweaked variant of existing malware or a new kind entirely the system can check it against the database, examine the code and block the attack on the basis that similar events have been rendered as malicious.

AIs network-monitoring tool can monitor user’s activity on a daily basis, thus building up a picture of their typical behaviour. If there is any deviation from normal behaviour the AI can detect anomalies and react accordingly. It responds in an intelligent way understanding the relevance and consequences of a breach or change of behaviour and develops a proportionate response in real time.

What is in it for enterprises?

Emergence of sophisticated technologies and advanced mindset of criminals have transformed the face of security. Enterprises should pay attention in developing a robust security infrastructure, implement AI solutions and organising cybersecurity awareness programs for its employees. Now it’s time for the enterprises to consider cybersecurity at a higher pedestal than what it was before.

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New RBI Guidelines, Card Details Not To Be Stored Online: Here is the plan of action for E-commerce Start-ups

Aakash Sharma — Sat, 27 Mar 2021 06:35:04 +0000

The Reserve Bank of India has issued critical new policies to prevent online merchants, payment partners and e-commerce sites from storing customer debit and credit card information. The apex body has commissioned companies to develop a strategy for digital payment products and services with their board of directors’ approval.

What are the targeted new RBI guidelines?

When formulating the parameters of a “new product”, the central bank has said that attention should be paid to the general business strategy, the risks inherent in the product and its consistency with the regulations. In the new directive overview, payment security requirements are explicitly discussed in terms of functionality, security, and performance (FSP).

The considered angles include:

Checking the necessary measures to protect the confidentiality of customers’, data integrity and processes related to the digital products/services provided,

Availability of the necessary infrastructure with the required support of personnel, technology, etc., and

Ensuring that payment products are built securely with high performance, security and stability, and are implemented after completing the necessary FSP tests.

In short, this means that a company cannot store customer’s card data on its servers and data centres. They need to take other data security precautions and avoid data breaches. This also means that whenever customers want to complete an online transaction, they need to remember their card details or have the particulars ready to enter every time. The new rule will take effect from July 2021.

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While many believe that large financial institutions may not be able to locate all of the data in the payments sector except customer cards and related data, not keeping logs will make doing business more difficult.

Why are new RBI guidelines being issued?

These changes are made because customers complained to the Reserve Bank about fraudulent online transactions and disagreements with merchants’ e-payment services.

As a result, the regulator has released new rules for online retailers, e-commerce sites and payment plug-ins, all from Amazon and Flipkart to Google Pay, Paytm and Netflix, which cannot archive customer card details.

The central bank said the purpose of preventing data transfer from third-party memory cards is to reduce the additional risk of financial fraud and theft.

New RBI guidelines pose challenges for businesses

After the RBI announcement, businesses are worried that without the card details, they will not be able to provide specific benefits, such as customer complaints or dispute resolution, delivery customer service and timely return requests.

New rules might also affect the risk of fraud. Since merchants would no longer be able to use internal input methods to protect card data, this could compromise RBI’s goal of creating a more secure electronic payment system.

How can businesses cope up?

The trade association and support group NASSCOM suggested that the RBI’s developed framework for card data storage should include security measures, reporting requirements, and internal management mechanisms rather than restricting debit and credit card data storage.

Businesses that use merchant accounts to process credit card transactions can use specific methods to protect customers’ credit card information.

Using only authorised service providers

Businesses should use a service provider to process and store credit card bills and service providers, including online SaaS providers. These service providers will need to undergo extensive testing to make sure they are worthy of trust.

Never saving electronic tracking data or card security number in any format

Although credit card information is stored for business purposes, this processing policy specifically prohibits card security codes or “data records” on the back of a credit card’s magnetic security bar.

Making sure the online storage of the credit card account is encrypted and the storage of the card is secure

There are circumstances where a business needs to store credit card numbers to keep, for example, proof of written authorisations for mail-order payments or recurring payment authorisations. If paper documents that contain credit card numbers are saved, it must be ensured that they are always locked in a secure place when not in use.

Whether the RBI’s new master directions will make payments more secure or not, they will undoubtedly make things more tedious. But ultimately, it remains incumbent on the RBI decision-makers to make things work for the people in a hassle-free and safe manner.

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Will 2021 Be The Year Of Innovation For The Payments Industry?

Aakash Sharma — Wed, 17 Feb 2021 06:35:04 +0000

After a year of struggles on all fronts, it’s safe to say that companies around the world found tremendous relief in only one thing – a digital shift. Digital transformation, especially the boom in payments industry, was essential to enable businesses, individuals and entire economies to cope with the enormous challenges posed by the COVID-19. Even after the pandemic is over, digital acceleration will not follow suit- it is here to stay.

Payment technology has played a crucial role in on-demand services, and this trend will continue the case with the digital transformation over the next year. Moreover, the free, real-time use of new and diverse payment methods is appealing for both merchant and consumer response options while challenging the industry ecosystem’s traditional payment value chain. As a result, the payments industry will pave the way for innovation.

The e-commerce sector, which is inherently more digital by nature, is increasingly adopting the business models to meet new consumer demands. To stay relevant in the future, physical retailers will have to respond to the pace of change and consider the new expectations and needs of their customers.

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Digital transformation was essential to enable businesses, individuals and entire economies to cope with the enormous challenges posed by the COVID-19 pandemic.

Challenges and Opportunities Will Lead to Innovation in Payments Industry

Cybersecurity

Businesses are expected to deliver a better customer experience while balancing data security and fraud prevention across all channels. This is one of the biggest challenges they face, and traders need the right tools to find the right balance.

Diversified Financial Services With Fintech

India’s fintech revolution has ushered in a new era of banking for the more than 63 million corporations who had been on the fringes of financial services for most, if not all, of the time.

Whether it’s creating a standard connection between institutional banks and small businesses for access to financial services, or enabling quick disbursement of packaged loans at moderate interest rates, fintech and digital payments sector is powering various parties necessary for the economy.

Identifying and catering to new audiences to micro-startups that specialize in particular financial services, there are numerous opportunities for fintech startups in India.

The UPI Momentum

The Unified Payments Interface (UPI) has broken records in the past year, and this momentum is expected to continue into 2021. Not to many people’s surprise, UPI is extending beyond the urban level and starting to enter the rural Indian space too. The boom in e-commerce will facilitate the penetration of UPIs, even in rural areas due to its ease of use and interoperability.

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Corporate Security Test Work From Home Boundaries

Naina Sood — Wed, 10 Feb 2021 08:35:03 +0000

Covid-19 has triggered a transition towards a remote workforce across the globe. Along with the new work practices comes a variety of security challenges. In the new norm, business is being done over home internet service providers (ISPs), with unmanaged routers and printers with home automation systems in the background. This is leading to new security threats. Traditional security measures that have been used daily for years cannot protect a fully remote staff without adaptation. Let’s have a look at how corporates are dealing with this transition and ensuing security:

Structuring work from home policies

To begin with, businesses are working to put in place more structured work from home (WFH) policies to ensure the security of client data. As per NASSCOM companies have sought permission from their clients for enabling work from home and built internal crack teams to manage security and privacy.

Security of virtual private network (VPN)

Companies are now looking to secure data by deploying Virtual Private Network (VPN), which provides much more security as compared to home Wi-Fi network. A corporate VPN offers organisations the opportunity to provide their employees access to a secure end-to end encrypted connection to cloud resources on a company network. Moreover, enterprises are turning towards Secure Sockets Layer (SSL) VPN, which is more secure than the traditional VPN, to remotely access important network resources and connect remote users to corporate resources. On the other hand, companies which have its employees work on home networks are putting in place the basic checks by its Information Technology (IT) teams. For instance, telephonic guidance is provided to secure home routers, installation of anti virus software’s etc. Companies are also making arrangements to pay any excess bandwidth.

Internal training, educating employees

Internal training has become a part of the work routine in the new normal. Companies are putting in place security protocols relating to not sharing of passwords, shredding of printed documents, not creating back-ups, and not using unsecured networks. Companies are also hiring external organisations to educate the employees on cyber security besides conducting virtual IT audits.

Security of cloud-based or SaaS applications

As the majority of businesses are operating on Software-as-a-Service (SaaS) applications, companies are working towards making these tools secure, especially as data moves from corporate offices to the cloud to home offices and then back to the cloud again. Though SaaS applications come with an in-built security system, companies are hiring independent organisations that help them protect their applications by regularly scanning their various settings for security issues.

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Companies are putting in place security protocols relating to not sharing of passwords, shredding of printed documents, not creating back-ups, and not using unsecured networks.

Storage and data backup

Remote working has led to increase in companies adopting cloud-based data storage or backup methods. All your data on the remote laptops/devices is migrated automatically to a cloud server like Amazon S3, Back blaze, Microsoft Azure or Google storage and then synced to the organisation data centres, ensuring complete protection.

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Have IT Solutions Become Affordable For Start-ups?

Naina Sood — Mon, 08 Feb 2021 06:35:03 +0000

One of the greatest challenges among small business owners today is making the decision about IT solutions, support and maintenance of the information system. However, tech giants and independent companies today are not only offering these services at affordable prices but also going a step further to develop unique offerings to tap the ever- growing start-up market.

Networking major Cisco recently launched a range of solutions portfolio tailored to small businesses addressing their networking, security, collaboration, cloud and internet connectivity needs. Hewlett Packard Enterprise announced the next generation of the HPE Modular Smart Array (MSA) helping SMEs focus on growing their business with an entry-level hybrid-flash storage solution. Their likes, including Microsoft, Google, Oracle, have also lined up to cater the segment.

Developing specialised programs and cost-effective packages for start-ups

Hosting servers

Around a decade ago, start-ups used to set aside a portion of their capital for setting up infrastructure. The practice changed with the spread of cloud technology, as it helps companies save on infrastructure costs and divert the capital into other business aspects, such as hosting. Cloud service providers such as Amazon, Google, IBM, and Microsoft have specifically designed cloud programmes with free-of-cost services to help start-ups get started in the cloud.

For a transactional-based start-up, the hosting services provided by the above-mentioned big companies is the best option. However, for a smaller service-based business, independent brands like Digital Ocean, Godaddy are more affordable and come with a complete package. Besides providing access to their platforms for 12 months, they also offer technology training, mentorship, and priority support.

Email server/marketing service provider

There are a host of providers in this segment, who over the years have developed unique offerings, especially plans, for small businesses. Companies like Mailchimp, GetResponse, BigRock, Dreamhost are providing quality services priced under $1 per month per user, including email marketing.

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Tech giants are developing range of solutions portfolio tailored to small businesses addressing their networking, security, collaboration, cloud and internet connectivity needs.

Website, mobile app developers

For a static business or a service-based start-up, the market today is flooded with web design and development companies and mobile app developers like Hyperlink InfoSystem, The NineHertz, Emizen etc. The sheer competition in this space has solved the problem of affordability for small businesses looking for these services.

SaaS applications

Instead of spending large amounts of money on hardware installations, SMEs are using SaaS applications which can be easily downloaded and maintained. These applications are perfect for all types of online businesses, especially transaction-based businesses or e-commerce platforms, offering-customer support, accounting and payroll, e-commerce etc.

Based on the pay-per-usage model, these applications, especially of international brands, have become more affordable and user-friendly. For instance, if you own a small-scale business with limited expenditure capabilities, US-based website Shopify.com can turn out to be quite a decent option. In India, Zepo.in offers hosted online store solutions starting from Rs 750 a month. BuildABazaar.com offers similar services starting from Rs 1,000 per month.

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As a Start-up How can you Avoid Cyber Attack

Naina Sood — Mon, 08 Feb 2021 02:35:02 +0000

Start-ups remain the most vulnerable segment in India when it comes to cyberattacks. Unlike large enterprises, small businesses may not have adequate resources to protect themselves. Of all cyberattacks, 43% target small business and SME start-ups while nearly about 60% of such SMEs that turn victims of cybercrime go out of business within six months.

It is up to the business entities to follow adequate safeguards and enforce the best cybersecurity best practices to prevent cyberattacks.

Best practices

Installing firewalls and anti-phishing software are the first lines of defence against a cyberattack. SMEs and start-ups should install advanced email protection solutions to identify suspicious email traffic that evades policy and traditional signature-based defences.

With many people working from home and other off-site locations, it has become necessary for all businesses to observe the best off-site cybersecurity practices like using a VPN instead of home Wi-Fi. Prioritising employee privacy is also an essential safeguard against cyberattacks.

Despite adhering the latest security practices, no one can entirely rule out unforeseen chances for a cyberattack on the business network, especially start-ups. Therefore, having an incident response strategy should be foremost on the minds of all business entities. A small business might not be able to recruit dedicated staff for monitoring cybersecurity issues. Generally, the service is outsourced to experts. It is advisable to choose the appropriate cybersecurity network that provides excellent customer support in deterring intrusions.

It is also important to keep the scalability of the solution in mind. Start-ups should consider investing in cybersecurity systems and practices that provide easy scalability, thereby catering to business expansion seamlessly.

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Of all cyberattacks, 43% target SME start-ups while nearly about 60% of such SMEs that turn victims of cybercrime go out of business within six months.

Choosing the right solution

It becomes cumbersome for organisations to choose the right security solution with the slew of solutions available today.

There are several factors which must be kept in mind:

Determine information value: Due to limited resources, it is prudent for start-ups to limit the security scope to the most business-critical assets. They must define a standard that will help them to determine the importance of an asset.
Do not compromise on quality: Businesses need to be flexible with their budget because inexpensive and cheap are not always the same. Solution providers that come cheap may not be competent enough to handle advanced threats.
Check security certifications: This will help bridge the skill gaps of the IT team and they can boost productivity. This is a long-term investment which is worthwhile for enhancing overall enterprise security.
Look for independent reviews.
Cyber insurance: The policy will ensure that the data gets restored in the event of a cyberattack. A standard policy doesn’t cover the electronic system downtime or breach due to lost or stolen devices.

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