Building a solid customer base is no small feat, at a time when brands are faced with a competitive market where brands simultaneously vie for visibility and customer attention. This is why it’s important to know how to keep your customers engaged and secure once you have built your network. 

With malicious cyber attacks and cyber security breaches becoming more aggressive and creative, MSMEs are faced with the challenge of keeping their devices and confidential customer information safe and secure. 

In a study by Deloitte, organizations that do not prioritize customer needs risk worsening cyber breaches一especially as the breach goes public. Aside from the technical ramifications and risks that customers are exposed to breaches, the paper also notes the damages that a cybersecurity breach can have on a company’s reputation and credibility.  

Businesses should also have not just an effective response when a breach occurs, but also preventive and post-breach measures. These include pre-breach planning, which would require timely notifications for customers about a potential breach and the possible privacy risks that could occur. Speed and quality of the response are critical in curbing risks even after the breach occurs.

More cyber risks ahead

As the pandemic has forced most companies to adopt a work-from-home setup, more people became more aware of their online privacy. In Secure List’s advanced threat predictions (ATP) for 2022, it was foreseen that hackers will continue to exploit the pandemic even as businesses start to re-open and people are returning to the office. This includes the use of social engineering to obtain credentials and brute-force attacks on corporate services, in the hope of finding poorly protected servers. Customers’ data can be used against institutions and the customers themselves, when hackers find weak points that they can use as opportunities (i.e., common password patterns and weak cybersecurity measures). 

Mobile devices are ideal targets as they contain plenty of details about users who travel and transact everywhere with their phones. In the Philippines, the pandemic-induced increase in online connectivity has exposed users further to the dangers of hacking. According to Business World, the Philippines ranked fourth in Kaspersky’s 2021 global ranking of countries most targeted by web threats.

With more consumers becoming aware of or having personally experienced cyber attacks, consumers are increasingly becoming more selective about the businesses they transact with. A study by Salesforce showed that only 48% of customers say they generally trust companies, 27% of consumers completely understand how companies use their personal information, and 86% want more transparency. The same study revealed that 61% of consumers feel like they’ve lost control over how their personal information is used, which is a significant increase from the 46% response recorded in 2019.

Protect your business and gain your customers’ trust

While businesses are confronted with the fact that they will experience a breach at some point, there are ways to prevent cyber risks. MSMEs in particular can keep their existing customers’ information safe and secure, and at the same time, acquire new customers who also value the safety and security of their personal information. 

While the penalties of data breaches can be quite taxing, not to mention costly to companies, not all business owners and employees are aware of the grave consequences it entails. According to the Data Privacy Act of 2012, this includes imprisonment for a minimum of one year and six months, and a fine of not less than P500,000, depending on the type of breach. 

With Globe Business Automated Data Privacy Management Solution or ADPRIMAS, businesses will be better prepared to prevent data breaches by equipping their employees with data privacy knowledge. ADPRIMAS, a knowledge-based web app or tool, provides assessments, online training courses, and severity reports. It was specifically designed to guide and assist companies in defining and establishing Data Privacy Practitioners’ compliance with the Data Privacy Law. When employees are aware of the data privacy regulations, which include taking care of confidential company information (both employee and customer data) through proper collecting, processing, management, quality, integrity, availability, and safekeeping of data, then they will be more alert and aware of how to refrain from divulging customer information entrusted to the company.

Globe Business’ holistic suite of Cybersecurity Solutions and services helps MSMEs identify, protect, detect, respond, and recover from cyber threats. Here are some ways to secure your network:

Data Security and Endpoint Security

Network and Cloud Security

With Endpoint, Network, and Cloud protection, you can be assured that your company is safe from cyberattacks. Customers are more likely to transact with your business, knowing that their information is also kept safe. 

Globe Business, being a trusted partner of MSMEs, offers personalized assistance, a dedicated team to assist with after-sales support, easy payment methods, and access to financial support with TechLoan in partnership with BPI. It’s an MSME’s one-stop shop for telco, cloud, and other needs with bundled solutions that suit your business needs.

To help partners better prepare and seamlessly adapt to Globe Business ICT solutions, Globe Business also offers training-as-a-service (TRaaS). This provides access to Globe Business Academy and all the insights, tips, and resources found within, and grants exclusive rewards and benefits through the loyalty program Upstart. Globe Business goes the extra mile for its partners by providing full support and assistance through innovative solutions.

Protect, future-proof, and enhance your business operations. Get the right support with Globe Business.

Watch this video or visit our website to learn more. Ready to sign up? Click here to schedule a free consultation with our Account Managers.

Investing in digital solutions may seem like a daunting step due to the perceived complexity and steep costs of integrating it into business operations. However, Globe Business, in partnership with the Philippine Software Industry Association (PSIA), assures micro, small, and medium enterprises (MSMEs) that there are affordable solutions that can boost and protect their business especially during challenging times. 

Along with other expert panelists from the ICT industry, Globe Business participated at the recently held PSIA Fireside Chat on “Digital Transformation for SMEs” to provide an in-depth look at how digital solutions play a role in addressing operational, marketing, and security challenges brought about by the pandemic and in creating business growth and efficient systems for MSMEs in the Philippines. 

“We are committed to help MSMEs realize the value of investing in new technology or digital tools: how it allows them to reach new customers, increase engagement with existing clients, and facilitate collaboration among their staff and employees while streamlining operations, leading to overall business growth and optimistic performance,” said Anne David, Marketing Acquisition Head, Globe Business MSME Group.

Key tech trends that are driving business growth and resiliency today

During the virtual learning session, the different ICT experts identified some of the key challenges MSMEs face today such as declining customer engagement, limited financial service accessibility, outdated operational processes, and cybersecurity threats, to name a few—which continue to hamper their growth and success. However, they were quick to point out that these issues can now easily be addressed with the rise of digital technology shaping the world today. 

1. Digitizing operations to improve customer engagement 

According to Jowie Alcala, Business Development Manager for Rhipe PH, one of the leading cloud solutions distributors locally, “digital automation is imperative for businesses to grow because this allows us to allocate the time that was used for answering customer inquiries to strategizing and developing plans for the business.” 

Caloy Ang from Suds Premier Franchising Corp. echoed, “businesses that survived [the pandemic] were the ones who were able to provide excellent customer experiences through digital channels. It is important that we are able to quickly respond to customers’ inquiries especially when they need us most.” 

Globe Business, through its affiliate Globe Labs, offers various API solutions to facilitate faster communication and increase engagement between businesses and customers. Some of the solutions include the SMS API, Voice API, and Sponsored Access API.

2. Encouraging cashless transactions for safer and convenient money disbursement

MSMEs were faced with the challenge of working around social distancing measures enacted by the government. To cope with the ever-changing mandates, businesses turned to online digital payment to sustain operational efficiency.

Through GCash’s Powerpay Plus Platform, companies can transition from tedious manual payroll systems to enjoying a fast, secure, and easily accessible digital payroll solution for salaries, allowances, incentives, and more. On top of that, customers can also conveniently transact with MSMEs through GCash

In fact, one of the panelists pointed out that their most utilized mode of payment is GCash because of its convenience. Their customers pay them through the app and they transfer the money into their bank account, giving them the flexibility to access their money anytime and anywhere. 

3. Fostering a collaborative remote work setting through the Cloud and digital tools

As remote work continues to be the norm, it is imperative for organizations to foster an environment where employees can continue to collaborate and see-through projects together even while apart. This is made easier and more efficient with Globe Cloud Solutions, allowing enterprises to quickly adapt to shifting workflows because processes remain the same, files and services continue to be accessible, and resources are intact despite weather or mechanical interruptions. 

MSMEs can also utilize cloud-based productivity solutions, some of which you may check out here. These applications store information and run servers on the cloud so users can access them anytime without installing them in their machines

4. Safeguarding the company from cyber threats 

Now that everything’s becoming more digital, it is more important now than ever for companies to stay vigilant and proactively protect their business and customer data from any vulnerabilities. Cyberattacks can easily be triggered these days by innocently clicking on spam emails from unsecure or public networks, compromising confidential data and important company information in a snap.

Partnered with the best global cybersecurity providers, Globe Business offers a holistic suite of cybersecurity solutions and services that help enterprises identify, protect, detect, respond, and recover from cyber threats to avoid severe damages to the income and reputation of the business.

“Technology should be an organization’s best friend especially during this point in time. By investing in digital solutions, businesses can reach more customers while saving on cost and keep the operations running regardless of what will happen,” said David.

To learn more about the exciting products and services Globe Business offers, sign up at https://go.mybusinessacademy.ph/ICTMonthOffers-PSIAArticle.

With the increased use of mobile devices and growing Internet penetration, cybersecurity threats have become a growing concern for both businesses and individuals. In 2016, cybercrime was the second-most reported economic crime affecting a third of organizations, according to the PwC Global Economic Crime Survey.

But large organizations aren’t the only ones looking into measures on how to protect against cyber attacks. According to a 2018 study conducted by the Ponemon Institute:

The harsh truth: Every business is at risk. That’s why it’s important to know the types of cyber threats they may encounter, as well as how to prevent them through effective cybersecurity solutions.

Phishing

How it works: You get an email from your bank asking you log into your account to continue enjoying its mobile banking feature. The email address it’s from is different from their usual correspondence.

By clicking on the link, you could become a victim of email phishing wherein a seemingly reputable source invites you to download an unknown attachment or visit a fake version of a trusted website. They then steal your information as you attempt to log in. According to security firm Kaspersky Lab, phishing is at an all-time high, with the number of attacks over 137 million in 2018.

Make it a habit to always check if the sender’s email address is genuine, as well as the link address they’re inviting you to click. Don’t download attachments from unknown sources, and only use a secure connection when visiting sensitive websites.

Increase your email security and have a secure Web gateway in place to further protect PCs and mobile devices from data leaks and malicious URLs.

Ransomware

How it works: You receive an email from an unfamiliar source asking you to download the attached file, saying it’s important.

By its name, ransomware is a malicious program that, when downloaded and activated, prevents users from accessing files and using applications until a ransom is paid, usually through cryptocurrency.

According to security firm FireEye, ransomware attacks on small and large organizations have been rising since 2015 — and will continue to do so because small businesses have “limited security budgets and expertise.”

Always make sure that your IT personnel are trained to spot vulnerabilities and implement preventive measures. Globe MyBusiness’s managed cybersecurity solutions can also help secure your network at a budget that will be easy to manage.

Cloud-based Breach

How it works: While trying to access your company’s cloud server, you decide to write down your password on a piece of paper and hide it somewhere. You might think it’s a good idea, but actually, it’s not. Writing down passwords is the easiest way for your network to get hacked; try a password manager instead. Cloud-based solutions have become attractive targets because of their potential to bring down entire networks.

According to Microsoft, cloud-based attacks focusing primarily on cloud and endpoint security increased by as much as 300% in 2017. These attacks are usually the result of weak passwords, poor password management, targeted phishing attacks, and the breach of third-party services.

It isn’t enough for IT staff to be knowledgeable; employees also need to know the importance of cybersecurity in business. Make sure that passwords are kept private and regularly changed, implement a robust web application firewall, and set up a protocol for all employees to follow in the event of a breach or hack.

Internet-of-Things (IoT)

How it works: You invite anyone with a digital device to connect to the company network to impress them about your new smart office where you can control everything with just your phone.

However, it’s difficult to ensure that all devices that connect to your network are secure. While IoT has allowed digital devices to connect to the Internet for greater efficiency and convenience, it’s also made it easier for cybercriminals to compromise an entire network. According to a report from security firm Symantec, the number of IoT attacks increased from 6,000 in 2016 to 50,000 in 2017 — rising 600% in one year.

It’s a business necessity to have a secure network connection, as well as rules about devices that can be allowed to connect to the office network. Globe MyBusiness’ Unified Threat Management (UTM) and boxed security solutions can help SMEs address advanced information security threats while alleviating the pressures created by budget constraints, skills shortages, and compliance requirements.

Let Globe myBusiness become your reliable partner in providing quality solutions against cyberattacks that could harm your business. Get in touch with our expert account managers to learn more.

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