With IBM estimating that the average cost of a data breach for a company sits around $3.6 million, it’s essential that your company takes cybersecurity seriously. As just about every element of our daily lives becomes networked, hackers are finding increasingly sophisticated ways of breaking into a company’s system. You need to implement some cyber security basics to protect your company and your clients.

The massive amount of revenue lost from a data breach can come via lawsuits, a damaged reputation, and lower sales in the future. Your business can’t afford to be in newspaper headlines for something other than the quality of your products and services. Even companies who aren’t tech savvy need to take cybersecurity into consideration now.

If you want to know some cyber security basics, here are 4 concepts your company should master as soon as possible.

1. Multiple Passwords

One of the most important things you can remember in cybersecurity is that if you use one password for everything, you set yourself up for problems. Imagine if you had one key for your safe, your car, your house, and your safe deposit box. All anyone would have to do is to get that key to get control of everything.

Unfortunately, lots of people do this and it’s why lots of people get hacked. Remind your employees to use different passwords for everything.

2. Secure Wi-Fi

Believe it or not, your beloved wi-fi router could be the gateway to your most secure data. Your neighbors or even someone parked outside your building could get into your network and start snooping around.

If you have any unsecured devices on an unsecured network, you’re basically leaving it open to any student who has ever taken a computer science 101 course. If you don’t protect access to your network, you’re in for trouble.

3. Two-Factor Authentication

Two-factor authentication is a prophylactic measure against the problems with duplicate passwords. Two-factor authentication systems will send a code with a few digits to a device belonging to the owner of the account being logged into. After they enter their regular password, they must then enter these digits within a few minutes to gain access.

4. Update Your Software

Security limitations and needs change on a daily basis. Software companies know this and that’s why they’re constantly asking users to update their operating system and their software. By updating, you can download the latest protections against coming viruses or ransomware.

It’s the technological equivalent of getting a flu shot. It can keep your data from leaking, which you’d agree is much more detrimental than a runny nose.

Cyber Security Basics Are Easy And Save Money

You can’t afford to have your profits disrupted by a major hack. While companies know they should take cybersecurity seriously, they still don’t. This can be a selling point for your company and allow you to catch all of the clients that other companies lose after a hack.

Several countries and states are not adding cybersecurity requirements for all businesses. Check out our guide to the major changes going on in Europe.