In a business environment where the only certainty is uncertainty, preparation, adaptability and a strong, resilient culture become even more important.
The digital threat landscape has changed dramatically over the past decade. From cyber attacks to geopolitical unrest to ongoing trade disruptions, the ability to quickly identify and mitigate potential risks is no longer just a technical concern for businesses; it has become a strategic imperative requiring enterprise-wide attention.
“We’re constantly analyzing what’s going on in the world with potential threats,” Steve Smith, global director of strategic projects at Esker, said in PYMNTS’ “What’s Next in Payments: Protecting the Perimeter” series.
This vigilance is not limited to cybersecurity, but extends to all aspects of business, including financial stability and growth.
“We want to remain a strong company, a profitable company that’s not overly leveraged so that it can suddenly weaken or get into trouble if there’s turmoil in the market,” Smith said. This calm approach to growth has enabled Esker’s business to weather an economic downturn without resorting to layoffs, providing peace of mind to employees and strengthening the company’s overall resilience.
The foundations of an effective defense and continuity strategy
Esker’s software-as-a-service (SaaS) platform, which serves customers across a variety of industries, is subject to strict compliance requirements, including GDPR, SOC 2 and ISO 27001. To maintain these certifications, the company works with external consultants to ensure ongoing compliance. “We can’t stop everything, but we’re doing an awful lot to really mitigate risk,” Smith said.
This proactive stance reflects Esker’s broader business strategy, not just to comply with regulations but also to evaluate the state of the global economy and make adjustments as needed. Business continuity planning in today’s environment goes far beyond the IT department. “This is a comprehensive effort that starts at the board level and extends throughout the organization,” says Smith, who sits on Esker’s board of directors.
He added that redundancy is a key element of resilience, and stressed the importance of adopting a diverse approach to operations.
According to Smith, Esker doesn’t rely on any single supplier or service provider. Instead, it has backup systems in place for all critical services, including SaaS solutions that are supported by both in-house systems and cloud providers like Azure and AWS. “We don’t put all our eggs in one basket,” Smith says. This redundancy allows it to quickly switch to alternative solutions in the event of a failure, ensuring both the company and its customers can continue to operate.
Cultivate a culture of resilience and agility
To strengthen its cybersecurity measures, Esker employs a variety of tools and processes: regular tests are performed to identify vulnerabilities, and ongoing phishing exercises are conducted to train employees on how to recognize and respond to potential threats.
These exercises aren’t just about finding weak spots; they’re about fostering a culture of vigilance and preparedness. Esker employees are trained annually on the latest cybersecurity threats and are expected to follow strict protocols if they inadvertently cause a security event. This security culture is reinforced by limiting access to sensitive areas of the network and physical facilities, even for senior executives like Smith.
This culture isn’t imposed from above, but rather is fostered through open communication and empowerment, Smith said, noting that for longtime employees, it often involves a shift in mindset as they adapt to new procedures and technology required in the modern environment.
Ultimately, he says, Esker’s success is built on trust — faith in its employees, its systems and its ability to adapt to any challenge. “If your employees are engaged and feel safe, all those other factors help,” Smith says. And it’s this trust that allows Esker to confidently navigate the uncertainty of today’s business environment.
Read more: B2B, B2B payments, cybersecurity, esker, trending news, fraud, fraud prevention, news, PYMNTS news, pymnts tv, risk mitigation, SaaS, security, software, software as a service, WhatsNextInPaymentsSeries, What’s Next In Payments: Protecting The Perimeter 2024
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