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Business Journals
a day ago
- Business
- Business Journals
How to choose the right cybersecurity framework: A guide for mid-market companies
As cyber threats become more sophisticated and regulatory requirements more stringent, companies, especially mid-market, must take a proactive approach to security. Choosing the right cybersecurity framework is a critical step in protecting sensitive data, maintaining compliance and building trust with customers, investors and regulators. However, with so many frameworks available, each with different requirements and industry applications, determining the best fit can be challenging. Understanding cybersecurity frameworks vs security standards Cybersecurity frameworks: Structured sets of best practices and methodologies for managing cybersecurity risks. Helps organizations build a structured approach to security, ensuring that policies, processes and technologies align with industry-recognized standards. Security standards: Defines specific requirements that organizations must meet to achieve compliance. Typically associated with audits, ensuring that an organization meets legal and contractual obligations. Common security standards include HIPAA, PCI DSS and GDPR. While standards ensure compliance with regulatory requirements, frameworks offer strategic guidance for building a resilient security posture. Choosing the right framework ensures a comprehensive approach to cybersecurity that not only satisfies legal requirements but also strengthens overall protection against evolving threats. Key cybersecurity frameworks in 2025 Selecting the best framework depends on your industry, regulatory landscape and business operations. NIST Cybersecurity Framework (CSF) 2.0 Developed by the National Institute of Standards and Technology (NIST), the NIST CSF 2.0 is a voluntary, risk-based cybersecurity framework focuses on six core functions: govern, identify, protect, detect, respond and recover. It provides a variety of high-level cybersecurity outcomes that organizations can use to understand, assess, prioritize and communicate their cybersecurity efforts more effectively. Best for: Organizations of any size or sector, particularly those looking for a flexible and risk-based approach to managing cybersecurity and aligning with industry standards. ISO/IEC 27001 The ISO/IEC 27001 is an internationally recognized standard for information security management. It provides a structured framework for implementing an Information Security Management System (ISMS), ensuring the confidentiality, integrity and availability of corporate data, including financial information, intellectual property, employee details and third-party managed data. Best for: Organizations of any size or sector, especially those needing a comprehensive ISMS to ensure data protection and demonstrate compliance to international standards. CIS Controls Developed by the Center for Internet Security (CIS), CIS Controls are a structured and simplified set of best practices designed to help organizations strengthen their security posture. Best for: Small to mid-market organizations seeking a simplified, actionable set of cybersecurity best practices to quickly strengthen their security posture with minimal resource investment. CMMC The Cybersecurity Maturity Model Certification (CMMC) is a unified standard developed by the U.S. Department of Defense (DoD) to ensure contractors and subcontractors meet specific cybersecurity practices when handling Controlled Unclassified Information (CUI). CMMC integrates various cybersecurity standards and best practices and assigns them across maturity levels, ranging from foundational to advanced. Best for: Defense contractors and subcontractors in the DoD supply chain who must demonstrate compliance with strict cybersecurity requirements to be eligible for government contracts. FedRAMP The Federal Risk and Authorization Management Program (FedRAMP) provides a standardized approach to security assessment, authorization and continuous monitoring for cloud services used by federal agencies. It ensures that cloud providers meet strict federal security requirements before working with government entities. Best for: Cloud service providers aiming to do business with U.S. federal agencies and needing to prove compliance with federal cybersecurity standards. StateRAMP Modeled after FedRAMP, StateRAMP offers a standardized approach to cybersecurity for state and local governments. It helps ensure that cloud service providers meet consistent security requirements when providing services to government agencies, promoting transparency, verification and trust. Best for: Cloud vendors looking to work with state and local governments that require proven compliance with standardized cybersecurity benchmarks. How to choose the right framework for your business Assess your current security posture Before selecting a new framework, conduct a comprehensive gap assessment to evaluate your institution's existing cybersecurity controls. Identify strengths, pinpoint vulnerabilities and determine where enhancements are needed to align with your chosen framework. Understand your industry requirements Certain frameworks are better suited for meeting industry-specific regulations. Understanding your industry's unique regulatory landscape will help you determine which security frameworks align with these requirements and which ones are most effective for addressing sector-specific risks. Consider business goals and objectives When selecting a security framework, it's important to align your choice with your company's broader business objectives. For example, with the FFIEC Cybersecurity Assessment Tool being phased out, financial institutions may consider adopting ISO 27001 to enhance their cybersecurity posture and build credibility with investors and regulators. Additionally, if your organization is focused on streamlining compliance processes or reducing the burden of managing multiple audits, a consolidated compliance framework, combining assessments like NIST, ISO, PCI DSS, HITRUST and/or SOC 2, can help alleviate audit fatigue and ensure consistent, efficient compliance across various regulatory requirements. Real-world example: For companies navigating a complex landscape of regulatory requirements, working with multiple providers testing the same controls can strain internal resources. Learn how FD's Consolidated Compliance Assessment Program helped a leading global payments technology company streamline compliance, exceed regulatory requirements and reduce audit redundancies. Read more here. Engage key stakeholders Cybersecurity is not just an IT concern; it requires collaboration across executive leadership, technology teams, risk and compliance professionals and internal audit. Engaging these stakeholders early ensures alignment on strategic priorities and regulatory expectations. Monitor, validate and adapt Cyber threats and regulatory expectations continue to evolve, making ongoing monitoring essential. Regularly measure progress against targeted cybersecurity maturity levels, reassess risk factors and adjust your strategy as needed. Internal audit should be involved in periodic reviews to validate compliance and readiness for regulatory examinations. Next steps: Strengthening your security posture Choosing the right security framework is more than just a compliance requirement; it's a strategic investment in your company's resilience, reputation and long-term success. As cyber threats grow more sophisticated and regulatory landscapes shift, companies must take a proactive approach to security. By assessing your current security posture, aligning with industry requirements and considering business goals, you can implement a framework that not only meets compliance standards but also strengthens your overall cybersecurity strategy. Navigating these complexities can be challenging, but you don't have to do it alone. Frazier & Deeter's experts are here to help you evaluate your options, implement the right framework and build a security posture that protects your business now and in the future. Contact us to get started. Frazier & Deeter (FD) is comprised of Frazier & Deeter, LLC, a US licensed CPA firm that provides attest services to its clients, and Frazier & Deeter Advisory, LLC, an alternative practice structure that provides tax and advisory services to clients worldwide. Learn more at
Forbes
3 days ago
- Business
- Forbes
Securing The Future: How Big Data Can Solve The Data Privacy Paradox
Shinoy Vengaramkode Bhaskaran, Senior Big Data Engineering Manager, Zoom Communications Inc. As businesses continue to harness Big Data to drive innovation, customer engagement and operational efficiency, they increasingly find themselves walking a tightrope between data utility and user privacy. With regulations such as GDPR, CCPA and HIPAA tightening the screws on compliance, protecting sensitive data has never been more crucial. Yet, Big Data—often perceived as a security risk—may actually be the most powerful tool we have to solve the data privacy paradox. Modern enterprises are drowning in data. From IoT sensors and smart devices to social media streams and transactional logs, the information influx is relentless. The '3 Vs' of Big Data—volume, velocity and variety—underscore its complexity, but another 'V' is increasingly crucial: vulnerability. The cost of cyber breaches, data leaks and unauthorized access events is rising in tandem with the growth of data pipelines. High-profile failures, as we've seen at Equifax, have shown that privacy isn't just a compliance issue; it's a boardroom-level risk. Teams can wield the same technologies used to gather and process petabytes of consumer behavior to protect that information. Big Data engineering, when approached strategically, becomes a core enabler of robust data privacy and security. Here's how: Big Data architectures allow for precise access management at scale. By implementing RBAC at the data layer, enterprises can ensure that only authorized personnel access sensitive information. Technologies such as Apache Ranger or AWS IAM integrate seamlessly with Hadoop, Spark and cloud-native platforms to enforce fine-grained access control. This is not just a technical best practice; it's a regulatory mandate. GDPR's data minimization principle demands access restrictions that Big Data can operationalize effectively. Distributed data systems, by design, traverse multiple nodes and platforms. Without encryption in transit and at rest, they become ripe targets. Big Data platforms like Hadoop and Apache Kafka now support built-in encryption mechanisms. Moreover, data tokenization or de-identification allows sensitive information (like PII or health records) to be replaced with non-sensitive surrogates, reducing risk without compromising analytics. As outlined in my book, Hands-On Big Data Engineering, combining encryption with identity-aware proxies is critical for protecting data integrity in real-time ingestion and stream processing pipelines. You can't protect what you can't track. Metadata management tools integrated into Big Data ecosystems provide data lineage tracing, enabling organizations to know precisely where data originates, how it's transformed and who has accessed it. This visibility not only helps in audits but also strengthens anomaly detection. With AI-infused lineage tracking, teams can identify deviations in data flow indicative of malicious activity or unintentional exposure. Machine learning and real-time data processing frameworks like Apache Flink or Spark Streaming are useful not only for business intelligence but also for security analytics. These tools can detect unusual access patterns, fraud attempts, or insider threats with millisecond latency. For instance, a global bank implementing real-time fraud detection used Big Data to correlate millions of transaction streams, identifying anomalies faster than traditional rule-based systems could react. Compliance frameworks are ever-evolving. Big Data platforms now include built-in auditability, enabling automatic checks against regulatory policies. Continuous Integration and Continuous Delivery (CI/CD) for data pipelines allows for integrated validation layers that ensure data usage complies with privacy laws from ingestion to archival. Apache Airflow, for example, can orchestrate data workflows while embedding compliance checks as part of the DAGs (Directed Acyclic Graphs) used in pipeline scheduling. Moving data to centralized systems can increase exposure in sectors like healthcare and finance. Edge analytics, supported by Big Data frameworks, enables processing at the source. Companies can train AI models on-device with federated learning, keeping sensitive data decentralized and secure. This architecture minimizes data movement, lowers breach risk and aligns with the privacy-by-design principles found in most global data regulations. While Big Data engineering offers formidable tools to fortify security, we cannot ignore the ethical dimension. Bias in AI algorithms, lack of transparency in automated decisions and opaque data brokerage practices all risk undermining trust. Thankfully, Big Data doesn't have to be a liability to privacy and security. In fact, with the right architectural frameworks, governance models and cultural mindset, it can become your organization's strongest defense. Are you using Big Data to shield your future, or expose it? As we continue to innovate in an age of AI-powered insights and decentralized systems, let's not forget that data privacy is more than just protection; it's a promise to the people we serve. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Time Business News
3 days ago
- Business
- Time Business News
Optimizing Practice Revenue: The Role of Physician Medical Billing Services
In the intricate landscape of healthcare, physicians face the dual challenge of delivering exceptional patient care while managing the complexities of medical billing. Navigating insurance claims, coding regulations, and reimbursement processes can be overwhelming. This is where physician medical billing services come into play, offering specialized solutions to streamline billing operations and enhance financial performance. Physician medical billing services encompass the comprehensive management of billing processes for medical practices. These services handle tasks such as patient registration, insurance verification, coding, claim submission, payment posting, and follow-ups on denied or unpaid claims. By outsourcing these functions, physicians can focus more on patient care, leaving the administrative intricacies to experts. Improved Revenue Cycle Management: Professional billing services ensure accurate and timely claim submissions, reducing the likelihood of denials and accelerating reimbursements. This leads to a more efficient revenue cycle and improved cash flow for the practice. Expertise in Coding and Compliance: Staying updated with the ever-evolving medical coding standards and compliance regulations is crucial. Billing services employ certified coders who are well-versed in ICD-10, CPT, and HCPCS codes, ensuring that claims are compliant and reducing the risk of audits and penalties. Reduced Administrative Burden: Managing billing in-house requires significant time and resources. Outsourcing these tasks allows medical staff to allocate more time to patient care and other critical functions, enhancing overall productivity. Access to Advanced Technology: Many billing services utilize state-of-the-art software that integrates with electronic health records (EHRs), providing real-time analytics and reporting. This technology aids in tracking financial performance and identifying areas for improvement. Scalability and Flexibility: As a practice grows, its billing needs become more complex. Billing services can scale their operations to accommodate increased patient volumes, ensuring consistent and efficient billing Talent When selecting a physician medical billing service, consider the following factors: Experience and Specialization : Choose a provider with a proven track record in handling billing for your specific medical specialty. : Choose a provider with a proven track record in handling billing for your specific medical specialty. Transparency and Reporting : Ensure the service offers detailed reports and maintains open communication regarding financial performance and claim Billers and Coders (MBC) : Ensure the service offers detailed reports and maintains open communication regarding financial performance and claim Billers and Coders (MBC) Compliance and Security : Verify that the provider adheres to HIPAA regulations and employs robust security measures to protect patient data. : Verify that the provider adheres to HIPAA regulations and employs robust security measures to protect patient data. Customer Support: Opt for a service that offers responsive and knowledgeable support to address any concerns promptly. Physician medical billing services play a pivotal role in enhancing the financial health of medical practices. By entrusting billing operations to specialized professionals, physicians can mitigate errors, ensure compliance, and focus on delivering quality patient care. In an era where efficiency and accuracy are paramount, leveraging the expertise of medical billing services is a strategic move toward sustainable practice growth. TIME BUSINESS NEWS
Yahoo
4 days ago
- Business
- Yahoo
The hidden price of free: How businesses' cost-cutting tech choices compromise your security
Free software is everywhere, used for email, marketing, accounting, scheduling, and even storing customer data. For small businesses under pressure, it's a tempting way to cut costs and stay afloat. But 'free' often comes with strings. Many of these tools don't offer strong security, putting your customers or clients at risk. What looks like a smart financial move can end up compromising sensitive information. Plenty of businesses, from healthcare to retail, have learned this the hard way. Data breaches tied to free platforms aren't rare, and the consequences can be serious. Just because a tool saves money doesn't mean it's the right choice. If it's not built to protect sensitive data, it might cost you and your customers much more down the road. Heimdal explored this issue to highlight how popular free software tools can weaken cybersecurity and what businesses (and consumers) can do to stay protected. Free software isn't really free. To stay in business, these tools often make money by tracking users, selling data, or running ads. They can collect user data by scanning emails, monitoring activity, or analyzing documents, and it's rarely clear how the data is used or stored. Without strong protections in place, customers can end up paying the price with lost privacy. Businesses might save a few dollars using free platforms, but the trade-off can mean weak security, intrusive advertising, and data leaks. Free platforms often lack essential security features like encryption, multi-factor authentication, and monitoring tools. These gaps can make sensitive information easier to access and exploit. Even trusted brands make compromises in their free versions. For example, Microsoft's no-cost Office stores files on OneDrive by default and displays ads. This setup raises concerns about privacy and control over users' stored content. The most troubling part is that customers don't choose these tools—businesses do. But when something goes wrong, it's the customers who suffer. Their data may be exposed, sold, or stolen. Free software might help balance a budget, but the real cost is often passed on to someone else. Legal and compliance risks Using free software can do more than risk data. It can also break the law. Industries like healthcare, finance, and legal services must follow strict compliance standards and data protection rules. Free tools may not be equipped with the features needed to meet those requirements. Take healthcare, for example. HIPAA requires encryption for patient emails containing health information, yet most free platforms don't offer that protection by default, which can lead to provider violations, fines, and lawsuits. Any business collecting customer information, such as emails, names, or payment details, has a legal obligation to safeguard it. The Federal Trade Commission (FTC) has outlined specific steps businesses should take after a breach, from notifying users to fixing the issue, and they don't take violations lightly. From retail to healthcare, real-world breaches show how cutting corners on tech can expose sensitive data, violate regulations, and damage trust. The following examples highlight what happens when cost-saving decisions put customers at risk. Retail and e-commerce data exposures Online shopping is convenient, but only if businesses keep customer data safe. Many small retailers use free or cheap tools to handle payments and store personal details. Without strong security, that choice can cause damage. Drizly's 2022 breach is a clear example. After ignoring known vulnerabilities, the alcohol delivery company and its CEO faced FTC action when millions of customer records were compromised. It's no longer in business. Insecure systems can lead to fraudulent charges, identity theft, and long-term credit damage for customers. Hackers can use leaked details to open accounts or apply for loans. Retailers may not intend harm, but skipping secure systems puts people at risk. Saving money shouldn't come at the cost of customer trust and safety. Small business service providers Law firms, consultants, and accountants often handle highly sensitive client data. But when they rely on free tools, they may be putting that information at risk. Free cloud storage isn't always secure, and file-sharing tools pose similar risks. Without alerts or monitoring, unauthorized access can go unnoticed, leaving confidential documents exposed. In 2024, Illinois-based accounting firm Legacy Professionals suffered a data breach that exposed the personal information of nearly 217,000 individuals, including Social Security numbers and health data. Multiple lawsuits were filed, alleging the firm failed to implement reasonable security measures or notify victims promptly. A single breach can shatter client trust in these types of businesses. Once it's broken, it's tough to rebuild. Plus, if data like Social Security numbers or banking info gets leaked, clients could face real financial harm. Healthcare privacy breaches Using free tools in healthcare puts providers at serious risk. Without proper security, these tools can lead to HIPAA violations. Take free email platforms, for example. If they don't encrypt messages, patient info gets exposed with every send. That kind of slip can trigger identity theft, insurance scams, and even job discrimination. Onsite Women's Health experienced this firsthand. In October 2024, the Massachusetts-based provider suffered an email data breach that exposed the personal details of over 350,000 people. Lawsuits followed, claiming the company didn't do enough to protect patient data. Customers can spot weak digital security if they know what to watch for. Many small businesses using free tools leave behind clues. One red flag? Free email addresses. A business sending messages from @ or @ might not be using secure, business-grade email services. Custom domains usually offer stronger protections. Sketchy websites are easy to spot if you know what to look for. No 'https,' a broken padlock, or browser warnings usually mean the site isn't secure. Pay close attention to payment pages. If you're redirected to a site you don't recognize or don't see trusted logos, that's a red flag. Maybe the system is outdated or missing encryption. Even random software ads can be a clue. They might mean the business is running on older, less secure tools. These signs aren't foolproof, but they help people protect their data. Business practices that signal risk Some businesses make it pretty easy to spot security problems if you know what to look for. Pay attention to how they handle your data. If they dodge security questions or give vague answers, that usually means their protections are weak or nonexistent. Privacy policies packed with generic language are another warning sign. If they don't say how data is stored, whether it's encrypted, or who can access it, they're probably not taking security seriously. Be wary if a company asks for info they don't need, like your birthdate, just to sign up for a newsletter. That usually means they're collecting data for marketing or even selling it. And if a tool forces everything into cloud storage without options, that's a hit to your control. No transparency? No real privacy. Before sharing your data Sharing personal information shouldn't be automatic. Before filling out a form or buying something online, consider how that business handles your data. Ask direct questions. How is your data stored? Is it encrypted? Who can access it? If the business can't answer clearly, that's a red flag. The FTC expects transparency, and so should you. Read the privacy policy. Look for details on data sharing, storage time, and security measures. If it's vague or hard to follow, that's not accidental. Do a little research. Check for HTTPS in the URL, valid security certificates, and online reviews. See if the company has had breaches or complaints. Trust your gut—if something feels off, walk away. A cautious pause now can save you headaches later. After your data has been shared Even if you're careful, breaches can still happen. Once a company has your information, it's smart to stay alert. Watch for unusual activity in your bank accounts, emails, and credit reports. Tools like credit monitoring or breach alerts can help you spot trouble early. You can also check online databases to see if a company you've used has been breached. If you feel something is wrong, act quickly. Change your passwords and freeze your credit if needed, then report the issue and keep records. The FTC offers a helpful guide for the next steps. Know your rights and don't stay silent. Depending on your location, you might qualify for credit monitoring or compensation, and you can report mishandling to the FTC, your state attorney general, or consumer protection agencies. Affordable alternatives to free software Businesses don't have to choose between overspending and risking security. Plenty of budget-friendly tools offer real protection without the downsides of free platforms. Many paid options are built for small businesses and include encryption, access controls, and support. When you consider the hidden risks of free software, affordable paid versions start to look like smart investments. Open-source tools can also be secure. Many are well-maintained and ad-free, but they may require IT support to set up properly. Using a risk assessment checklist (e.g., What data is stored? Who owns it? Is it updated regularly?) can help guide smart choices. Breaches can cost far more than subscriptions. Spending a little now can protect trust, data, and your bottom line later. Minimum security standards worth paying for Some security features are nonnegotiable when handling sensitive data. These protections are worth paying for: Automatic updates to fix vulnerabilities fast Strong logins with multi-factor authentication Encryption for data while it's moving and when it's stored Role-based access and audit logs to track who's doing what Backup and recovery systems in case something goes wrong These features cut the risk of breaches, protect your reputation, and keep you out of legal trouble. It's smart IT and smart business. Consumers aren't helpless when it comes to data protection. Speaking up and making informed choices can help push businesses to do better. Start by asking questions. Don't hesitate to ask how your data is stored, whether it's encrypted, or who has access. These conversations can nudge companies toward stronger security. Choose where you spend. Supporting businesses that invest in secure systems helps raise the standard. Avoiding those that cut corners sends a clear message. Stay informed. Know your rights and keep up with trends in data security. Stay alert. Use strong passwords, keep software updated, and monitor your accounts. Free software may offer convenience, but it often comes at a price—one that customers or clients may end up paying. Businesses and consumers alike have the power to change that. This story was produced by Heimdal and reviewed and distributed by Stacker.
Listly
4 days ago
- Business
- Listly
Best Instant Messaging Apps for Enterprise Businesses
Slack is one of the most popular team messaging platforms in the world, widely adopted for its ease of use, powerful integrations, and ability to streamline internal communication. It offers features like real-time messaging, file sharing, app integrations, voice and video calls, and customizable workflows, making it a strong tool for productivity and collaboration within teams. However, despite its popularity, Slack is not built for secure client communication or use in regulated industries such as healthcare, finance, or legal services. While it provides basic encryption for data in transit and at rest, it lacks end-to-end encryption and does not offer HIPAA compliance out of the box—this requires upgrading to the Enterprise Grid plan and undergoing a lengthy approval process. Additionally, Slack does not include features like secure client portals, audit-level access control, or structured messaging environments designed for compliance with standards like GDPR, HIPAA, or FINRA. As a result, while Slack is excellent for internal team chats, it is not a secure or compliant choice for organizations that handle sensitive client information or operate in tightly regulated sectors.
