Threats such as ransomware, phishing scams, and data breaches are on the rise, making cybersecurity an increasingly important issue for small and mid-sized businesses (SMBs). Unfortunately, many SMBs lack the resources to defend against these threats.
In this guide, you’ll learn what a cybersecurity assessment is and why it matters. You’ll also get a checklist that helps you carry out a cybersecurity assessment and prioritize measures that strengthen your overall security.
Cybersecurity assessments: What they are and why your business needs one
A cybersecurity assessment is a proactive structured review of your business’s digital security. It examines your IT systems, security measures, and operational practices to identify key vulnerabilities and assess your defenses against cyber threats.
Why SMBs need regular cybersecurity assessments
With their limited IT staff and budgets, SMBs are often seen as easy targets. A Mastercard survey found that 46% of SMBs have experienced a cyberattack, and nearly one in five of those affected either filed for bankruptcy or shut down entirely.
A cybersecurity assessment gives you a clear picture of how well your defenses are working: what’s secure, where you’re most vulnerable, and how to improve them. With its actionable insights, you can focus your limited resources where they’re most needed.
How cybersecurity assessments support compliance
A cybersecurity assessment helps you comply with industry-relevant regulations such as PCI DSS, HIPAA, and GDPR. These standards often require documented risk assessments, as well as ongoing monitoring and strict security policies. Failure to comply with regulations can result in fines, loss of customer trust, and civil litigation.
A cybersecurity assessment checklist
To evaluate your cybersecurity readiness, follow this step-by-step checklist.
Step 1: Review your IT infrastructure and systems
Start by evaluating all network components, including firewalls, routers, and switches. Are they properly configured and updated? Unpatched or outdated software is one of the most common entry points for cybercriminals, so check that all operating systems, apps, and connected devices are running the latest updates.
Next, verify that all laptops, desktops, mobile devices, and other endpoints have antivirus software installed and configured correctly.
Step 2: Check data protection practices
To identify gaps in your data protection practices, answer the following questions:
- How do you protect sensitive data?
- Is it encrypted to prevent unauthorized access?
- Do you have a data backup and recovery plan?
- Are there policies in place to govern how employees handle sensitive information?
- Can you quickly recover lost or damaged files with your current backup and recovery plan?
Step 3: Evaluate access control and authentication
Review user permissions to ensure employees can access only the data and systems related to their roles. Audit access regularly to remove outdated or unused accounts, as these are common targets for cybercriminals.
Also, check your password policies. Are employees using strong, unique passwords? To add an extra layer of protection beyond passwords, have you enabled multifactor authentication for all critical systems? Is anyone sharing accounts when they shouldn’t?
Step 4: Conduct a cybersecurity risk assessment
Identify the most likely cybersecurity threats to your business, including phishing attempts, ransomware, and unintentional data leaks, and which could cause the most damage. Use the answers to prioritize risks so you can focus your resources on preventing the most serious threats.
Step 5: Assess compliance with regulations
Determine whether your business must follow specific regulations such as PCI DSS for processing payments or HIPAA for handling health data. Confirm your policies align with these mandates.
Additionally, keep detailed records of staff training, software updates, and policy changes to show your commitment to data protection.
Step 6: Review incident response and recovery plans
No matter how robust your defenses are, cyber incidents may still occur. That’s why it’s important to have a clear incident response plan that outlines team roles and actions during an attack or a system failure. You should also run practice scenarios so everyone knows what to do.
Also, make sure your recovery plans enable you to quickly resume operations to minimize financial losses and protect your reputation.
Step 7: Schedule recurring assessments
Cybersecurity is an ongoing process, with old threats evolving and new threats emerging all the time. Conduct annual assessments to review your IT systems, identify new risks, and adjust your defenses accordingly.
Perform additional assessments after major changes, including internal restructuring or the deployment of new technologies, as these events can introduce new vulnerabilities.
Using this structured cybersecurity assessment checklist, you can take proactive steps now to prevent costly breaches and protect your business reputation in the long term.
If you need help assessing the risks or improving your cybersecurity, contact Integrated Computer Services today. Our cybersecurity experts are ready and eager to help.