If you think about it, there are always risks in our businesses that we hope and pray will not blow up on us. The question is which ones you choose to accept and which ones you try to mitigate.
At MultiFunding, we have lagged behind in our IT systems and controls in our business. We have known this for a long time. And yet, despite the reality that we were working with a lot of sensitive customer financial information, fixing our IT was always one of those priorities that kept getting kicked down the road. But I always knew that I would have no one to blame if we had a ransomware attack. Eventually, I decided that I wanted to be able to look my team and my customers in the eye and tell them honestly that we had done everything we could do to avoid such an attack.
I share more about this journey in my 21 Hats column this morning. Click the button below to read.