Did you know that October is Cybersecurity Awareness Month? So, what does this mean for your business? Actually, it can mean a lot. It’s time to review your dealership’s digital security practices to ensure that your customer’s data is safe. After all, your company collects and stores quite a bit of sensitive information, such as your customers’ addresses and employers, as well as their financial dealings.
As you probably know, if your system gets hacked, your reputation could suffer. So, here’s how you can increase your cybersecurity and protect your dealership’s bottom line.
Know What Customer Data Your Dealership Stores
Auto dealerships require a lot of information, from financing and sales programs to those that keep track of your in-stock inventory. So, it’s no surprise that this important data is attractive to cyber thieves. Other information that your company stores includes those related to the service department (both the parts stock and customer vehicle details), online payment systems, customer relationship management (CRM) software, and even programs used by your employees to track their hours and check their emails. All of this data must be kept secure.
Strengthen Passwords and Access Controls
How is all of the data kept secure? Easy: program logins, passwords, and other things, like access credentials. You can protect some of this information by only allowing access to it for specific employees. For example, you may allow your salespeople to only see their CRM program and inventory list, not their customers’ financial details. In addition, training your employees on how to use complex passwords and setting up your login access accordingly can help prevent data breaches.
Train Employees to Recognize Cyber Threats
Strong passwords and limited access can only do so much. You also need to train your employees to prevent things like phishing attacks. By informing them of what these phishing emails look like, as well as other potential hacker signals, you can ensure that your company’s information will be kept safe.
Keep Systems and Software Updated
In addition to everything above, it’s crucial that your dealerships’ programs and software are updated regularly. Software manufacturers are constantly upgrading and improving their products, providing newer versions and security patches. Make sure that your IT people are installing these updates to help keep your data secure.
Have a Plan for a Data Breach
Despite your best efforts, mistakes can happen, leading to a data breach. What should you do when this occurs? Hopefully, you have a plan in place that includes a cybersecurity insurance policy. Your data breach plan should include methods of contacting the affected parties, creating a stronger data system, and reaching out to your insurance company to see which parts of your plan are covered so that you don’t have to pay for all of these things out of pocket.
Have Questions? Contact Charlotte Insurance
Want to learn more about cyber security insurance for your automotive dealership? Contact Charlotte Insurance. Our agents can explore and explain all available options and put together the insurance coverage plan your business needs.