Cybersecurity in B2B

Businesses around the world experience a cyberattack roughly every 11 seconds. 

80% of cybersecurity professionals believe their place of work lacks protective measures, and only 57% of companies have conducted a risk assessment last year. These numbers demonstrate not all businesses take cybersecurity as seriously as needed. 

What to look for in a B2B partner when it comes to cybersecurity?

The Robustness and Flexibility of the Systems

In 2019 about 20% of small to medium businesses have suffered malicious attacks. They might not be known if not researched. To make sure there are no blind spots in a potential partner’s security, one could conduct research by checking the following points: 

1. Talk to the Data Protection/Information Security Officer to find out the actions taken to protect the data. 
2. Check whether the business encrypts its communication with partners and customers. 
3. Inquire about the business’ security certifications and compliance.
4. Talk to existing business’ clients and see if your partner’s solutions fit companies from different fields. This will indicate whether the system is flexible enough to suit any direction a business might turn. 

Making sure the history of data leaks is either non-existent or open will help any business choose the most honest and secure partner. 

Security Culture

Only 1 in 3 businesses is GDPR-compliant. Less than 30% of businesses are able to maintain PCI DSS certification. 

Around 95% of all cyberattacks are the result of a human error. Business can be 100% safe only when cybersecurity becomes an integral part of the company’s DNA. Everyone working in the team should be informed about security requirements, pass frequent tests and training, and follow up on updates and events both in the world and within their company. 

It is also a good practice to appoint a Data Protection Officer (DPO) and make the team around the position open to communication with everyone — the inner team and the clients. This will streamline the communication between you and your clients’ businesses and elevate the level of trust in the relationship. 

Their Soft- and Hardware Solutions

Android software has 3750 vulnerabilities. Windows 10 has 2313. iPhone OS has 2299. Creating software without vulnerabilities is impossible. But it is possible to manage the risks by assessing those vulnerabilities and choosing the most reliable solution.

With a CRM system being one of the most important and primary communication points, make sure your vendor has selected or developed a secure system. If possible, find out more about the development process: are SDLC practices used, how is the code’s security controlled, what are the potential vulnerabilities of the process? Besides app-level security, check out hardware protection measures: 

• Where are the system’s and users’ data stored?
• Who has physical access to the data and is it traceable?
• Is there a disaster recovery plan? 

Taking a close look at your partner’s hard- and software solutions will make sure no hidden bottlenecks will appear when the collaboration starts. 

Their Willingness to Develop and Change

Over the next 5 years, cybercrime is predicted to grow 15 percent a year and reach $10.5 trillion in costs.

Cyber threats will grow and cause more damage as we go. This means businesses and their current and future partners have to be flexible and adaptable.

When selecting the best partner, ask what security certifications they are pursuing and what steps they take to gain them. Conduct risk assessment and analyze potential impact of current cyber threats. Inquire about the DRP to understand how fast systems can recover in case of an attack. Include these and other points in your questionnaire and ask all your potential B2B partners. This way, you will get the most secure and up-to-date B2B relationship possible. 

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