cybersecurity and strata management

Cybersecurity and Strata Management

As a strata management company, creating safe and happy communities in the buildings you manage is the goal, right? Having the right technology will be a significant leg-up towards achieving this! That’s why strata managers have embraced digital tech and managed IT support – from robust networks to controlling data and enjoying seamless communications, you get the right tools and the right support to make your job easier.

This shift to digital also brings in a need for powerful cybersecurity measures. Managing a strata company produces masses of sensitive information, from personal details to financial data, contracts and even physical access codes. Hackers are drawn to those like moths to a flame, and you need to keep them out! If you don’t, you’re risking data breaches, financial loss, reputation damage, angry tenants – the list goes on.

Let’s explore the main cybersecurity risks your strata management company faces, and some of the steps managed IT services will take to help overcome them.

Key Cybersecurity Risks in Strata Management

Data Breaches

government IT supportHackers can’t resist data, especially when it contains personal and financial information. As strata managers, you’ve got loads of that, which puts you at significant risk of a data breach. If they were to have success with their hacking efforts, you’re at risk of identity theft, fraud, compliance issues and legal ramifications – amongst other repercussions.

Phishing Attacks and Email Scams

With emails being a primary source of communication in strata management, phishing is a constant threat. These are a form of fraudulent emails that appear to be from a legitimate source, used to trick you into giving away sensitive information or downloading malware. All it takes is one successful attack and your company’s entire system can be exposed to hackers.

Ransomware Attacks

Ransomware is a type of malware that encrypts an organisation’s data then demands a ransom for its release. You rely on continuous access to digital records and communication systems, which means a ransomware attack will have a big negative impact on your operations.

Weak Passwords

80% of data breaches in a year are down to weak or reused passwords. Sharing credentials to log into software, email accounts and security systems also increase the likelihoods of a password incident. If your password is weak and you’re not using multifactor authentication, it’s only a matter of time before your system gets infiltrated.

Third-Party Vendor Risks

Strata managers, particularly those who manage their own technology stack, rely on various third-party vendors for their software and systems. If these vendors have weak cybersecurity measures in place, their tools could be an entry point for hackers.

How Managed IT Services Can Protect Strata Management Data

strata it managementThe good thing about outsourcing your Strata company IT is that you’ll have cybersecurity professionals working to keep your systems and data safe, around the clock. An established MSP will put comprehensive systems in place to improve your security and mitigate risks. The big bonus here? Total peace of mind for you!

Here are some of the measures they will take to fortify your business.

Multi-Factor Authentication (MFA) for Secure Access

According to Microsoft, 99.9% of compromised accounts don’t have multi-factor authentication installed. MFA requires users to verify their identity through multiple steps. For example, first would be a password, followed by a temporary code sent to their mobile device. It’s one of the most effective and simple ways to reduce compromised access to accounts.

Employee Training and Awareness Programs

Multiple reports point to the fact that human error is at the heart of most cybersecurity breaches, with one putting it at 88% of all breaches. Staff need to be educated in how to spot a hackers attempts, and what to do to mitigate the threat. Your MSP should be able to provide training phishing scams, password security and safe online practices.

Regular Data Backups and Disaster Recovery Planning

Despite having the most powerful cybersecurity measures in place, hackers can still find a way around. When they do, you want to be prepared with a disaster recovery plan and by having all your latest data backed up. This is essential in minimising downtime and managing the fallout from a breach.

Endpoint Security and Remote Work Protection

Remote work is a thing, and it’s not going anywhere. One downside is that it exposes work devices and accounts to more cyber risks. Endpoint security solutions that protect laptops, mobile devices, and remote access networks are essential. These include virtual private networks (VPNs), encrypted connections, and mobile device management (MDM) tools.

Continuous Monitoring and Threat Detection

Hackers and cyber threats are constantly on the move and evolving to try and get ahead of your defences. An MSP will have 24/7 network monitoring and threat intelligence in place. Suspicious activity gets identified and addressed before it wreaks havoc on your business.

Secure Vendor and Third-Party Integration

government it consulting

A managed IT service provider takes on the role of vendor manager, meaning you don’t have to worry about the security risks third party providers. We’ll evaluate their security standards and ensure they’re as safe as possible.

Get in Touch with the Strata IT Cybersecurity Experts

As a strata management company you hold great responsibility. You have the personal and financial details of many people and families in your care, and you want to safeguard them to the best of your ability. Taking a reactive approach to cybersecurity is not the answer – you need to be proactive and have the right tools, security measures and recovery plans in place.

If that sounds overwhelming, get in touch with Smile IT. We’re an IT support company helping strata companies all across Brisbane stay safe in the cyber jungle. For improved cybersecurity, more efficient processes, better communications and an IT partner who truly cares about your business, call us now on 1300 722 760.

peter drummond

When he’s not writing tech articles or turning IT startups into established and consistent managed service providers, Peter Drummond can be found kitesurfing on the Gold Coast or hanging out with his family!

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