4 Most Important Security Factors Every Company Should Consider

In the corporate world, security is always a primary concern, regardless of industry or niche. It goes without saying that poor security exposes businesses to a variety of avoidable risks that could result in significant losses and/or damage to the company’s current status. However, despite ongoing efforts to combat cyber criminals, hackers, data theft, ransomware, and other malicious corporate attacks, the battle for perfect security still rages on. Unfortunately, many companies are still vulnerable in some areas of security. To make sure you have all the bases covered, consider the following four facets of security that all businesses should become familiar with.

1. Payment Processing

Using a payment processor that offers top-notch security and secure bulk payments is an essential requirement for any company that plans on conducting a high volume of financial transactions online. This is an obvious step for most businesses, but many are still using the typical payment processors that are popular with consumers. These common platforms may work for giving and receiving money, but they also have a higher incidence of fraud than specialized secure business. Thus, to ensure maximum protection in all transactions, it’s best to opt for a solution that’s geared towards corporate security rather than typical online shopping. There are several services that can offer secure payment processing, one example is AccessPay whose software runs on a secure IP infrastructure only accessible to banks and building societies who meet specific requirements. Corporate payment processors also improve your ability to send and receive funds via every possible payment method.

2. Physical Assets

Of course, aside from your real estate on the web, you also need to secure your physical location(s) to prevent the theft or damage of essential property such as inventory, equipment, and facilities. For this step, it would be wise to surveillance system that can keep watch of your most important assets while you’re not around.

In addition, equipping laptops and other devices with tracking software will help you relocate lost or stolen devices with ease. Likewise, you can use GPS tracking tools to keep track of your fleet of vehicles. Being able to monitor and ascertain the whereabouts of all assets at any given time is an undeniably beneficial capability for any company.

3. Trade Secrets

Some things worth protecting are intangible, such as trade secrets that set the business apart from competitors. Keeping proprietary processes, software, and strategies out of the hands of the competition ensures that your business continues to retain its competitive edge. However, achieving this can be easier said than done if you’re not adamant about the importance of confidentiality.

Fortunately, there are many effective ways to encourage employees and associates to keep your trade secrets under wraps. Perhaps the most effective method is by having them sign a non-disclosure agreement (NDA). An NDA is a legitimate and legal way to obtain the assurance that people you’re doing business with won’t sell you out in the long-term, as doing so could cause them serious legal repercussions.  

4. Corporate Planning

Aside from existing processes, ingredients, and methods, it’s also important to secure any future intentions you may have for the market. If such plans were to be shared, it’s possible that an existing competitor or a newly founded entity might try to capitalize on your research and strategic planning efforts.

Again, NDAs are the go-to method of choice for securing confidentiality in business operations, but since there’s no guarantee that a signor will honour the agreement, the best course of action is to keep critical plans on a “need to know” basis. By assembling small management groups and only making trusted employees privy to pivotal upcoming moves you can minimize the chances of accidental self-sabotage via oversharing.

Safeguarding from Negative Outcomes

Ultimately, all the security types mentioned above are absolutely necessary for any business that wishes to mitigate risk and maximize the chances of continued success. Failing to address these concerns could cause significant negative outcomes, including but not limited to financial hardships, data loss, lawsuits, theft, dissemination of company secrets, vandalism, decreased profits, and damaged reputation.

Luckily, avoiding all of these potentially disastrous outcomes is as simple as researching and implementing solutions to all of the aforementioned problems. Of course, while there will always be smaller security issues to contend with, in most cases the primary problems will be in relation to one of the four areas discussed herein.  

FG Editorial Team
The Founder's Guide Team - Asian Associates with dynamic elements out to make a change.Thank you for visiting our site! If you do have any questions or inquiry, feel free to contact us through our links and please don't forget to follow our social media accounts. It would be our pleasure to help you in any way we can. Always Remember: "Proceed to Succeed". Hoping to hear from you soon!