It’s the cornerstone for communication and collaboration for all of your employees, partners, suppliers, and customers.Even if you aren’t a tech startup, your emails, documents, communications with customers, financial records, intellectual property, strategic plans, budgets, marketing materials, etc.Just a few years ago, technology strategy followed business strategy.
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As the startup team works on, the hackers monitor and mirror the progress.
They see the code the startup developed to make the product work. The patent application draft being passed around for review. They take all of it silently in the background and the startup team is none the wiser.
That changed dramatically as technology has evolved into a disruptive advantage that enables a new startup to move faster than entrenched competitors.
Today, the technology strategy often dictates the business strategy.
At the same time, they look for potential buyers for your information — perhaps a firm overseas who sees the potential of the business and had an interest in replicating it.
After all, the startup team is doing all the hard work for them.To make things work, someone has also logged into the payroll system and redirected a few paychecks to a burner card.The startup is bleeding cash, and investors are concerned.They may install a remote access tool on the employees laptop or compromise another users email account.They don’t delete or destroy anything, and they cover their tracks as they go.The startup team works to make improvements, and decide on the strategy forward.While they are busy, a ransomware attack encrypts the most critical documents and they get an email demanding payment to get the data back.For weeks the attackers do nothing — they just watch silently collecting data.Over a period of days or weeks they work to quietly move laterally and gain more access.This happens to firms of every size, but smaller firms are becoming a preferred target as they don’t have robust security capabilities.Startup founders need to think about information security needs right from the start.