By: Brian Lang, Director Real Time Logistics, Dematic
Cyber threats are at an all-time high. Any time data is created, there is risk involved. This puts pressure on many industries, including the supply chain, to come up with solutions for privacy and security, especially as the dependency on mobile devices and automation within supply chains grows.
Wi-Fi management and security are crucial for the supply chain industry. Without it you leave your systems open to risks that could cause you extended downtime or stolen data if you do have a security breach.
Recent research conducted by Frost & Sullivan revealed that more than half of organisations surveyed in Australia (55%) have experienced a cybersecurity incident in the past five months.
The research also revealed that 18% of Australian organisations experience the impact of at least one APT (advanced persistent threat) attack monthly and 35% of Australian organisations experience the impact of virus/malware attacks on a weekly basis.
The regularity of which businesses are exposed to various cyber attacks is a big problem and can be extremely costly to businesses in the long-run, but perhaps an even bigger concern is the fact that many businesses are not even aware when they have suffered a cyber attack. 1 in 5 companies are unsure if they have encountered a cyber attack as they have not performed proper forensics or data breach assessments.
Businesses need to have better management of their Wi-Fi so that checks and assessments are performed regularly and routinely. If these assessments are not being conducted regularly, then the result could be a business not knowing it’s had a breach, which could lead to the breach becoming a more serious and wider reaching problem. Cyber security incidents can potentially cost Australian businesses up to $29 billion per year in direct economic losses.
Many Australian businesses are still resistant to technological changes due to their concerns around the challenges of Wi-Fi security, with 66% of businesses having put off digital transformation efforts due to the fear of cyber risks. This, however, can negatively impact an organisations’ growth and can result in them getting left behind by their competitors who have chosen to embrace technology. And there is a growing number of organisations ready to embrace new technologies within their business, with 4 in 5 organisations in Australia having either adopted or looking to adopt an Artificial Intelligence (AI) approach to boost cybersecurity.
While high-profile privacy breaches such as those at Yahoo and Uber have made it clear that more needs to be done to protect sensitive data, embracing technology is crucial if businesses want to remain competitive, and while security risks are a real threat, with the right systems and management in place, these threats can be overcome.
One important area to focus on is the network, which is often a complex system made up of numerous wired and wireless technologies, which process and store sensitive data. This complexity has left many organisations with blind spots.
There should be multiple layers of security and encryption for your Wi-Fi networks, and it is important to constantly update your security system to protect you from any cyber threats. Ask yourself:
If your system is out-of-date or under protected it will leave your business exposed. Your security system needs to be regularly assessed to identify any potential areas of weakness and ensure they are addressed early.
Unfortunately, there’s no denying that cybersecurity threats are on the increase, and security compliance is serious business. In Australia data breaches will end up costing your business a lot of money, so having the right systems in place is crucial.
Supply chain businesses should not underestimate the importance of Wi-Fi security, but they should also not let concerns over cyber threats prevent them from adopting technology that will improve the operations of their business. Reliance on technology in the supply chain will only continue to grow, and it is vital that you keep up with technology advances in order to keep up with the competitive market.
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