6 things Construction Executives Should Do to Beef Up Cyber Security for Their Companies

6 things Construction Executives Should Do to Beef Up Cyber Security for Their Companies

Most companies are now relying on electronic data stored in local servers, remote servers, or the cloud. Unfortunately, this has led to identity theft and data compromises, which have become bywords in terms of security at the workplace.

If you work in the construction industry, don’t think that your company is exempt from cyber attacks. Remember that any individual or company that connects to the Internet or handles network-based systems could potentially become a victim. Chances are, the construction firm that you’re working for has some form of online connection, making it a possible target for a data security breach.

One of the most common types of cyber attack involves theft or compromise of sensitive data. These may involve company trade secrets, financial statements of assets and liabilities, personal employee information, or intellectual property. Any of these attacks may result in damage to company reputation or even monetary losses.

Apart from financial losses as a result of confidential data theft, some construction industries may be directly affected by cyber attacks in terms of physical security. For instance, large-scale construction projects that rely on cloud-based algorithms to ensure structural integrity may find their network compromised. This may lead to a flurry of risks, including the introduction of inaccurate data that may affect the actual construction of the building and result in physical injuries.

No one can anticipate a cyber attack, but it’s important for construction companies to be prepared for the worst. Here are six essential actions that the construction industry must put in place to mitigate cyber threats:

  1. Implement policies for incident response

Start by drafting a plan on how to respond to an attack or incident. Companies may already have response policies for traditional threats and incidents, but cyber incidents are special cases that need special attention.

  1. Define roles

Aside from creating a cyber incident response team, be sure to define the role of each member of the team and the overall company during an attack.

  1. Establish communication procedures

Protocols for communication in relation to cyber security must be put in place, so that the issues may be brought to the proper channels. These procedures should include regulations for data communication to third-party entities and the general public.

  1. Train employees

Cyber incidents involve not only the core response team, but all members of the company. Employees must be equipped with knowledge on what to do when a cyber incident occurs.

  1. Simulate cyber attacks

Before any untoward incident happens, conduct a simulation of a potential attack. This will allow you to assess if the protocols are working and everyone knows what their roles are.

  1. Arrange for help from third-party entities

Not all attacks can be handled by the company’s response team. Coordinate with a third-party group who handles specific tasks, say credit monitoring or cyber forensics.

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Although there is no such thing as perfectly foolproof security, construction companies should strengthen their cyber security to prepare the firm and each employee to face potential problems. Learn how to install your ProEst software with our construction estimating application. Get started today!

Flavio is the Information Technology Director at ProEst.

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