Cyber threats are on the rise, and the self storage industry is no exception. According to Cybersecurity Ventures, it is projected that global cybercrime costs will surge by 15% annually over the next two years, reaching $9.5 trillion USD globally this year and $10.5 trillion USD per year by 2025, a significant increase from $3 trillion USD in 2015. Around half of all global cyberattacks strike small businesses like storage facilities.
Protecting your business and customer data is crucial. But what steps can you take to safeguard your storage facility and prevent cyber attacks in self storage?
In this article, Storagely will explore essential self storage cybersecurity best practices to help you secure your operations, protect your customers, and maintain your reputation.
Why Cybersecurity Matters in the Self Storage Industry
The Growing Threat Landscape
The self storage industry increasingly relies on digital systems for operations, from online reservations to facility management software. This reliance makes storage facilities attractive targets for cybercriminals aiming to steal sensitive customer data or disrupt business operations.
Potential Consequences of Cyber Attacks
- Data Breaches: Loss of customer personal and financial information.
- Financial Losses: Costs associated with downtime, repairs, and potential legal liabilities.
- Reputational Damage: Loss of customer trust leading to decreased rentals.
- Regulatory Penalties: Fines for non-compliance with data protection laws like GDPR or CCPA.
Cybersecurity for storage facilities has never been more important. By taking all necessary precautions, you can avoid cyber attack damage and protect your digital assets. As a storage owner, you must protect customer data in self storage to engender trust and boost your reputation as a leader in the industry.
Self Storage Cybersecurity Best Practices
As we navigate the tempestuous waters of the digital age, maintaining the security of your self storage facility is more than just a savvy business move—it’s essential for survival. Just like you’d never leave your facility’s doors wide open at night, neglecting your cybersecurity measures is an open invitation for trouble.
In this section, we’ll arm you with the best practices in cybersecurity, ensuring your business remains strong and secure in the face of ever-evolving cybersecurity threats.
1. Enable Two-Factor Authentication (2FA)
Add an Extra Layer of Security
Implementing two-factor authentication on all web logins makes it significantly harder for unauthorized users to access your systems, even if passwords are compromised.
Storagely Sidebar:
- Storagely has 2FA for Tenant Portal Access through Tenant Connect. 2FA is on the roadmap and will be released very soon for all customer portals as well! We encourage companies to advocate for 2FA from any vendor that does not currently offer it.
2. Utilize Password Management Software
Secure and Manage Passwords Effectively
Using password managers like TeamPassword or LastPass helps employees generate and store strong, unique passwords, reducing the risk of password-related breaches.
3. Enforce Regular Password Rotation
Minimize the Risk of Compromised Credentials
Require employees to change passwords regularly to limit the window of opportunity for cybercriminals using stolen credentials.
4. Mark External Emails Clearly
Prevent Phishing Attacks
Tagging all incoming emails from external sources alerts employees to potential phishing attempts, encouraging them to exercise caution before clicking links or downloading attachments. Safeguarding your emails is essential, given that 96% of phishing attacks are conducted through email, according to security professionals, and 30% of small businesses view phishing as their most significant cyber threat.
5. Enhance Spam Filtering and Email Security
Reduce Malicious Emails
Invest in advanced spam filters and email security solutions to block phishing emails, malware, and other threats before they reach your employees’ inboxes.
6. Provide Regular Employee Cybersecurity Training
Educate Your Team
Conduct ongoing employee cybersecurity training to help staff recognize and respond appropriately to cyber threats like phishing, social engineering, and suspicious activities.
Storagely Sidebar:
- Storagely uses a tool called Coalition to protect from cyber threats with Active Insurance. This platform also offers cybersecurity training, which our team will be going through. We recommend looking for a product like this for your company as well!
7. Secure Your Facility Management Software
Protect Operational Systems
Ensure that your facility management software is secure by:
- Keeping Software Updated: Regularly install updates and patches.
- Choosing Reputable Vendors: Select software providers with strong security practices.
- Limiting Access: Provide system access only to authorized personnel.
- Avoid Shared Logins: Wherever possible, make sure to allow individual logins to any software.
8. Backup Critical Business Data Regularly
Prepare for Data Loss Events
Regular data backup ensures you can quickly recover essential information in case of ransomware attacks or sensitive data loss incidents.
9. Secure Wi-Fi Networks
Prevent Unauthorized Access
- Use Strong Encryption: Implement WPA3 encryption.
- Set Strong Passwords: Avoid default or easily guessable passwords.
- Create Guest Networks: Separate guest Wi-Fi from your business network.
10. Limit Access to Sensitive Information
Follow the Principle of Least Privilege with Access Control
Grant employees access only to the critical data and systems necessary for their roles, reducing the risk of internal breaches.
11. Use Secure Payment Processing
Protect Financial Transactions
Ensure your payment operating systems comply with the Payment Card Industry Data Security Standard (PCI DSS) to safeguard customer financial data.
12. Develop an Incident Response Plan
Be Prepared for Cyber Incidents
Create a comprehensive plan outlining steps to take in the event of a cybersecurity breach, including:
- Notification Procedures
- Containment Strategies
- Recovery Processes
The Role of Employees in Cybersecurity
Cultivating a Security-Conscious Culture
- Empower Staff: Encourage employees to report suspicious activities without fear of reprimand.
- Regular Communication: Keep self storage cybersecurity best practices top-of-mind with newsletters or bulletins.
Cybersecurity Training Topics
- Phishing Awareness: Recognize and avoid phishing emails and texts.
- Password Hygiene: Understand the importance of strong, unique passwords.
- Safe Internet Practices: Avoid downloading unauthorized software or visiting risky websites.
Partnering with Trusted Vendors
In the world of cybersecurity, picking the right allies is like choosing the perfect sidekick for your superhero team. Trusted vendors can offer specialized expertise, cutting-edge technology, and reliable support to maintain your security infrastructure while you focus on channeling your energy into other areas of your business.
Here are some things to consider when selecting vendors.
Vendor Security Assessment
- Due Diligence: Assess the security practices of third-party vendors.
- Contracts and SLAs: Include security requirements in service agreements.
Secure Self Storage Software Solutions
- Choose Reputable Providers: Work with software vendors known for robust self storage facility security measures. Secure self storage software can make or break your business.
- Regular Evaluations: Continuously assess software performance and security.
Storagely: Leading the Charge for Self Storage Cybersecurity Best Practices
Cybersecurity is a critical aspect of running a successful self storage business. By implementing these self storage cybersecurity best practices, you can protect your business from cyber threats, safeguard your customers’ data, and maintain a trustworthy reputation in the industry.
Remember, cybersecurity isn’t a one-time effort but an ongoing process that involves everyone in your organization. Stay vigilant, stay informed, and take proactive steps to secure your storage facility with regular security protocols.
With Storagely, you gain a secure partner that values data security in the self storage industry. From our streamlined rental system to our custom storage websites, self storage operators can rest assured that we abide by all cybersecurity best practices. We’re ever your secure partner in the ultimate search for increased storage rentals. What are you waiting for? Contact Storagely today to revolutionize your rental process!