Cybersecurity is not a luxury anymore, rather it has become an essential component in the enterprise world. You are an SME; you have clients’ data, business information, and other information that hackers would like to access. If an attacker’s plan works, the potential losses are enormous – from monetary to reputational to operational disruptions.
Cybersecurity is not only about preserving the company’s assets; it is about preserving the relationships with clients and business partners. Unfortunately, data breaches and ransomware attacks are now a daily occurrence, so, being able to show that your company has adequate measures in place can be a major selling point, putting you ahead of the competition, so to speak, and giving people confidence in your company should they decide to do business with you.
The Implications of the New Instrument for SMEs
The Network and Information Systems Directive 2 (NIS2) is the European Union’s new legislative act aimed at enhancing the cybersecurity of critical assets and sectors. This directive broadens the coverage of the previous NIS Directive, now covering a larger number of sectors, including the SME ones.
Main Changes and New Provisions of NIS2
The NIS2 directive introduces several key changes and updates that SMEs must be aware of:
- Expanded Scope: New Information Society Services (NIS2) directive now covers more areas such as the digital services, the social media, and some SMEs.
- Enhanced Security Measures: It demands the use of higher levels of protection measures as for example two- factor authentication, encryption and updated software.
- Incident Reporting: SMEs are expected to report major cyber threats to the right government departments within one day of discovery.
- Risk Assessment: Now, risk assessments are necessary, and the measures for addressing the risks have to be utilized on a frequent basis.
- Compliance Oversight: NIS2 provides a higher level of compliance compared to the first one, with supervision and sanctions.
Preparing for NIS2 Compliance
Of course, it is essential to state that NIS2 compliance is a vast subject, but if you have the right approach, your SME will be prepared for it. Here are the key steps you should take to prepare your business for the new cybersecurity requirements:
- Assess Your Current Cybersecurity Posture: Take a look at the current cybersecurity policy in order to identify what aspects of the current policy are deficient.
- Develop a Comprehensive Cybersecurity Strategy: Create a plan that demonstrates the company’s security vision, security expectations and the steps that would be taken to ensure that the organization complies with the provisions of NIS2.
- Implement Advanced Security Controls: Ensure that your organization has implemented the right security measures such as the use of MFA, encryption, and update of the software among others.
- Establish Incident Response and Reporting Procedures: Develop a policy, procedure and guidance on how to assess the likelihood and severity of cybersecurity threats and incidents in line with NIS2.
- Provide Cybersecurity Training for Your Employees: Make sure that your personnel is informed about cybersecurity, NIS2 directive and what they should do for security.
- Partner with Cybersecurity Experts: In the case of the NIS2 regulation, IT is advised to work with a trustworthy cybersecurity provider who will assist you with this and other matters.
NIS2 Compliance Checklist for SMEs
To help you stay on track with your NIS2 preparations, we’ve compiled a comprehensive checklist:
Risk assessment of your information technology and information systems
Ensure that stringent access controls are put in place: this can include such measures as employing several factor authentications.
Ensure that all the software and all the systems are updated and there is a proper management of patches.
Incident response and reporting can be used to create and refine your procedures.
Ensure that you are providing your employees with the best in cybersecurity training.
Now is a good time to review and update your data backup and recovery procedures.
Establish specific policies concerning the interaction between the business and the third-party entities
Appoint an official or a committee of officials to be specifically in charge of the compliance.
Cybersecurity should be checked and changed periodically, as it has to correspond to the modern threats.
Conclusion
Thus, NIS2 can be an opportunity and a threat for an SME. If you interact with the new cybersecurity requirements early on, then you can make your business adapt to the new standards and be perceived as a secure company that other businesses can transact with in the connected world.
Remember that cybersecurity is not something that you have to do because of the regulations – it is your investment in the future of your SME. Therefore, having learned the measures to prepare for NIS2, you will be able to safeguard your business, your clients, and be ahead of your competitors in the world of cybersecurity that is shifting rapidly.
