Is It Time to Upgrade Your Outfitter’s Tech?

Investing in current technology is crucial — especially when it involves protecting one of your most valuable assets: data. Having outdated technology at your outfitter can negatively impact your business. Any transaction made online is an attractive target for major cyberattacks. The results — including tarnished reputations, lost sales and costly lawsuits — can be devastating. To protect your network and keep your business profitable, it is critical that you understand the risks you face. It may even be time to upgrade a few of your systems.

The Importance of Updating Your Cyber Technology

If companies forgo upgrading their technologies, they put the security and integrity of the business at risk. Having an older system makes your business more vulnerable to hacking. Not to mention, older systems tend to run slower causing frustration across all ends.

A cyberattack could knock a small to midsize business offline for days, causing them to lose sales, customers and their reputation. Worse yet, a single data breach could even force some out of business. Visa, Inc. estimates that 95 percent of the credit card data breaches reported to them happened with their smallest business customers.  

Using POS Systems

Point-of-sale (POS) systems are often left behind when making upgrades to cyber technology. While your computers may have great antivirus protection, your POS may need an upgrade. Just like any other cyber technology, POS system is vulnerable to cyberattacks.

Several modern POS systems are cloud-based and offer iOS and Android-compatible apps for your tablet or smartphone. They also do a lot of the work for you. Instead of having to manually enter the transaction and record the payment, the POS system automatically does it. Some POS systems offer a tap-and-go option that allows customers to pay with their phone instead of a card. This is a great way to cater to the adventurer who likes to travel light.

Time To Get on The Cloud

By using the cloud, companies have been able to completely overhaul the way they interact with each other and with their workers. The cloud consists of multiple networks of servers that allow apps to be accessed anywhere through the internet instead of being confined to a particular computer or network.

Not only will switching to the cloud keep your computer from being cluttered, but it’s also safer than the information you’ve stored on your hard drive. Cloud servers are usually located in warehouses that a very select few have access to. The files stored on the cloud are also encrypted meaning that they are scrambled making it more difficult for hackers to access.

Reducing Your Chances of Potential Data Attacks and Leaks

Data thieves are simply looking for the path of least resistance and have begun to realize that small businesses make easier targets because they generally lack IT departments and high-level security software. Despite the increasing number of large and highly publicized cyberattacks, 85 percent of small business owners believe their company is safe from cyberattacks.

Data Breaches

Hackers love to steal credit card data. With the increased use of wireless networks, data theft can occur more easily. Cyber threats include fraud, worms and viruses. 

Most websites use secure socket layers (SSL), which are supposed to guarantee that login, password and credit card information is safe during a customer’s transaction. SSL relies on special electronic certificates issued to a secure website, but each Internet browser validates the certificates differently. Keep in mind that SSL is not immune from hacking and beware of fake certificates.

Mitigate Data Breaches

Are you providing your customers with a secure online experience? Consider the following:

• Comply with the Payment Card Industry-Data Security Standard (PCI-DSS). Merchants who don’t can get fined by credit card companies.
• Purchase as much security as you can afford. Consider how much lost customer data or lost customers would cost your company.
• Maintain continuous vigilance of your site and know your real customers.
• Have firewall segmentation between wireless networks and point-of-sale networks, or in front of any network that comes in contact with credit card information.
• If you suffer a data breach, communicate this to your customers.

Don’t Get Trapped in the Cyber Web!

Cyber security is a serious concern for all outfitter businesses. We are here to help. To learn more about protecting your business with comprehensive insurance coverage,  click here  to receive a free quote from CBIZ Adventure Sports Insurance!

This blog may contain scenarios that are provided as examples only. Coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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