Importance of Application Security and Customer Data Protection to a Startup

When you are a startup, there are umpteen things that demand
your attention. You must give your hundred percent (probably even
more!) to work effectively and efficiently with the limited
resources.

Understandably, the application security importance^[1] may be pushed at the
bottom of your things-to-do list. One other reason to ignore web
application protectioncould be your belief that only large
enterprises are prone to data breaches, and your startup is hardly
noticeable to become a target.

Well, these eye-opening statistics^[2]
prove otherwise.

• 43% of security attacks target small businesses
• New small businesses witnessed a 424% rise in security breaches
  in 2019
• 60% of small businesses close within six months of
  cyberattacks
• SMEs can lose more than $2.2 million a year to
  cyberattacks

How Can Cyber Breaches Impact Your Startup?

Unless you belong to the category of data security
startups, which are thoroughly familiar with the
importance of a secure web app, your startup can face dire
consequences of a cyberattack:

• Loss of critical and sensitive data of customers, employees,
  third parties, and the company
• Systems downtime, resulting in loss of employee and
  organizational productivity
• Financial setback due to revenue loss or post cyberattack
  response expenditures
• Possibility of regulatory lawsuits or penalties for
  non-compliance with web application protectionmeasures
• Reputation damage in the eyes of customers, partners, and most
  importantly, investors
• Closure of business

How to Create an Effective Application Security
Protection Plan?

Now that you know that your startup is as vulnerable as large
companies to security breaches, here are the proactive steps you
must take to mitigate the risks:

1—Familiarize Yourself with Types of Cyber
Attacks

The list of types of cyber attacks keeps growing, with new
security attacks surfacing every year. But you must make yourself
aware of the most common ones like phishing and spear-phishing, DoS
and DDoS, SQL injection, malware, compromised/stolen devices,
cross-site scripting, and zero-day attacks. This will help you to
understand the potential security risk areas of your startup and
formulate a comprehensive plan for a secure web app.

2—Promote a Culture of Cyber Security Among
Employees

You would be surprised to learn that many attacks occur due to
employee negligence! Weak passwords, use of company/BYOD devices in
public wi-fi spots, ignoring company cybersecurity guidelines, and
opening phishing emails are among a few examples of human errors in
IT security.

Hence, it is crucial to sensitize your employees about the
application security importance through routine dedicated training
programs. If required, take strict disciplinary action against a
negligent employee – you should not encourage a careless attitude
towards the cybersecurity of your startup.

Do make sure to install security software on your employee
devices as an endpoint security measure.

3—Put a Cap on Data Access Permission

Even if you are working with a small team in your startup, the
likelihood of data loss or theft is quite possible, especially if
you work remotely across different geographical locations.

You all may be sharing a common password, or you may be storing
data in a cluttered way. This is like extending an open invitation
to hackers. You need to ensure that you restrict the access of
sensitive or confidential information to only those people who need
it to perform their job. You should also set up multiple
authorization/permission levels for data access, depending on how
sensitive the data is.

4—Conduct Rigorous Security Testing

Security testing is one of the best preventive measures to
identify all possible vulnerabilities, weaknesses, risks, and
threats in your application on four focus areas:

• Network Security
• System Software Security
• Client-Side Application Security
• Server-Side Application Security

It also checks whether your application can keep the data
confidential in case of attacks. The security testing evaluates
your application on multiple levels, such as vulnerability
scanning, security scanning, penetration testing, and risk
assessment. If any bugs are detected, developers can easily fix
them through coding.

5—Create Incident and Failure Response
Strategy

No matter how diligently you follow all web application
protectionmeasures, there is always the possibility of loopholes.
Such scenarios call for an incident and failure response plan.

It lays down the course of action your staff must take when a
security breach incident occurs. This will help you to prevent,
contain, and control the issue without losing any time.

If you have not taken application security importance^[3] seriously, it’s about
time that you act upon it promptly. You can partner with
cybersecurity experts like Indusface, which has end-to-end,
customized security solutions for startups.

For example, Indusface Apptrana^[4]
is designed for the comprehensive protection of your web
application for all domains. Some of its key features are:

• Continuous detection of risks through automated security scans
  and manual Pen-Testing
• Patching of vulnerabilities through web application firewall
  with assured zero false positives
• Mitigation of DDoS attacks
• 24*7 and a 360-degree view of your application security

A stitch in time saves nine. Application security and customer
data protection measures are no different.