Because the COVID-19 pandemic necessitated a nearly immediate change in normal workplace operations, there wasn’t a lot of time for business owners to come up with solutions to the problems that arose around telecommuting. Because of this, many small businesses are now dealing with challenges unique to the “new normal” that has been found in the midst of the pandemic.
Cyber Security
Because of the rushed nature of the switch to telecommuting, cyber security may have fallen by the wayside for many companies. Rather than all company data being accessed and transferred in one central location, files and programs are now being utilized by workers in their own homes and on their own wireless networks. Unfortunately, this may open you up to
cyberattacks. Luckily, there are a few ways you can mitigate this issue. Firstly, make sure all staff are appropriately trained in the online security measures you would like them to take in order to protect your company’s data. Making sure that they fully understand any new software you have deployed in response to the pandemic and routinely update their programs is also an important step. Additionally, you can perform user access reviews to make sure that administrative rights given to employees are appropriate and do not open you up to further risk.
Third Party Providers
If you signed contracts with any third-party service providers to address the immediate needs your business was facing at the start of the pandemic, now may be a good time to audit those relationships and revisit the agreements to ensure you are getting the most out of the services you’ve contracted. Make sure that you have updated all your internal documents, such as your budget and risk assessments, to include any new software, programs, or services you have deployed. Doing a System and Organization Controls report can help you determine whether you need to improve upon any new partnerships you’ve formed with service providers.
Disruptions to Your Supply Chain
Many businesses have experienced supply chain disruptions due to the pandemic. While product-based businesses are more heavily affected by this issue, IT departments are also struggling. If devices utilized by your employees fail and require replacement parts and your IT team is unable to order them, your operations may be slowed. According to CPA Practice Advisor, there are a few steps you should take to mitigate potential dangers in this category. You should first work to understand any risks you may face in relation to new or existing devices. Then, determine whether you are vulnerable due to dependencies on certain suppliers.
Next, create a backup plan in the event that these suppliers experience supply chain issues, taking into account which areas of your business may suffer most. Now that the dust of the initial transition to working from home has settled, it’s imperative that you revisit potential risks to your company that may have been overlooked in the rush to adapt and maintain your normal processes. While there are certainly many more challenges beyond those listed above, making sure that your business is protected against cyberattacks, has an effective relationship with any third-party service providers, and is able to mitigate potential supply chain disruptions are great first steps in protecting your company’s day-to-day operations.
