Synersoft develops path-breaking and disruptive software solutions for MSMEs. Technologies developed by Synersoft are aimed at minimizing IT infrastructure cost for SMEs, and enhancing their competitiveness with state of the art IT standardization. These solutions focus on data preservation, data security, fraud mitigation, and software license cost minimization. In an interaction with NCN Magazine, Mr. Vishal Prakash Shah, Co-Founder & CEO of Synersoft Technologies Pvt. Ltd, shares about their solutions MSMEs, their future plans, mission and vision.
What are the data loss and security risks MSMEs face at present?
The most common data loss and security risks MSMEs face can be summarized as below:
Ransomware: This type of attack encrypts all data and disrupts the company’s operations. It should be kept in check.
Email attacks: Email accounts are hijacked and used to contact customers or vendors in order to redirect funds to fictitious accounts.
Confidentiality threat due to employees: An inside employee exposes confidential information to competitors, resulting in significant economic losses. It could be tender bids, designs, drawings, IPR, formulas, customer data, employee data, business data, and accounts data.
Fraud emails and websites: Phoney emails lead to fake websites which steal password credentials.
Accidental or Intentional Deletion of Data: An employee deletes the data accidentally or intentionally. It will cause a loss of business continuity.
Disaster or Hardware Failure: The devices, servers, and storage systems that store digital assets like designs, drawings, documents, and spreadsheets can be lost due to hardware failure or disaster. It will cause a loss of business continuity.
Hacking into networks: In these types of attacks, networks are infiltrated by hackers. They exploit resources such as the internet to mine bitcoins or attack other networks.
Pirated software threat: An employee installs pirated software that causes potential liabilities. In such a scenario, the company could be held legally accountable, with severe consequences.
What preventive measures and what protective solutions MSMEs should adopt in general?
MSMEs are at a very nascent stage of IT adoption. They need to standardize their IT systems such that it protects their data from loss, leakage, and theft. They find it challenging to understand the risks and mitigate them. A few solutions that MSMEs can adopt in order to fight the threat of cyber crime are:
VPN: Remote access tools must not be used by SMEs for technical support from external agencies or data access from the outside. When accessing files and apps remotely, SMEs should always use a VPN. On low-cost routers, VPN deployment is free. It will undoubtedly protect small businesses from ransomware.
Standard Email System: MSMEs should stop using a low-cost, unlimited third-party ID email system. They can use a standard email system like Google Workspace or MS365 or something similar. Some technologies like hybrid email or DNS Splitting Technology can save email subscription costs by 70% while also improving security and attentiveness. This will assist SMEs in preventing email identity theft fraud.
Routers: Intrusion detection firewalls are not necessary for SMEs. They require a low-cost router to manage multiple internet connections and to block all ports and use VPN for incoming traffic. It will almost certainly make hacking the network nearly impossible.
Antivirus: Antivirus software prevents malware from inflicting damage to your device by identifying, quarantining, and/or destroying malicious code. Antivirus software nowadays updates itself automatically to provide protection against the latest viruses and malware.
Employees: Internal data theft dangers are more dangerous to SMEs than external data theft threats. They require an Insider Threat Mitigation System. In this case, the disclosed data / IPR will assist a SME’s competitors more than a hacker. SMEs should sign a solid confidentiality agreement with their staff and disable any data theft methods such as USB drives, emails, and the internet.
Forego piracy: Servers, CALs, professional versions of operating systems are expensive. Instead of using pirated software and assuming risk as well as liability, MSMEs should consider the use of IT in a Box products which serve similar purpose and saves significant costs.
How Synersoft helps MSMEs with the right protective tools? What new solutions Synersoft is planning for the FY2023-24?
Synersoft takes a contrary view to data protection and information security. Traditional solutions follow an approach known as Maximum Monitoring and Minimum Controls. Such an approach works better in large enterprises having a battery of IT professionals. MSMEs don’t have full time IT professionals to analyze and monitor many audit logs and events. Synersoft uses an approach of Maximum Control and Minimum Monitoring. MSMEs can adopt such an approach as it is less resource consuming and by maximizing controls one can avoid monitoring of many users. Synersoft also offers Single Hardware – Single Software (IT in a Box) solution to MSMEs which is simple and cost-effective. Solutions designed by Synersoft focus more on Insider Threat Mitigation than on External Threats. In the coming months, Synersoft plans to reach more customers through an aggressive channel program. Lucrative margins, exciting schemes, tech support, and certification programs are on the cards. Synersoft is also investing extensively in R&D of new features in BLACKbox range of products.
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