To Avoid Risks in Startups, Adopt Risk Management Practices to Assess Risks

Regulatory Compliance: Within the multifaceted regulatory environment of India, Startups needs right & relevant tools & software that aid them to stay informed & alert about applicable laws & regulations. With these tools, startups can manage & automate the tasks regarding regulatory compliances & reduce all the possible legal risks. It is the obvious responsibility of key management of the startup to systemize an effective & operative system to adhere with all the establishment of revised laws.

In such case, Lawbite Regulatory compliance management system software (GCMS-India) faultlessly amalgamates the technology with laws & regulatory compliances & generates positive results towards compliance management. Startups & SMEs can opt this tool to strengthen the framework of risk & compliance management.

Cybersecurity Solutions: Industrial experts & analysts says that many Indian startups have been a purposeful target for cyber-attacks & recommended the startups to drive their immense attention on cyber security solutions & services. The Cyber security solutions includes firewalls, antivirus software, secure cloud storage & so on, which protect the sensitive data & information from threatening web malware.

Cyber-attacks such as phishing, ransomware & social engineering have become a frequent occurrence among startups followed by the less awareness about cyber security. The robust threats of cyber-attacks are getting high all around business landscapes, thus, investing in cyber security solutions is the best option that startups must take.

For instance, Jaipur-based cyber security company, WiJungle booming as a Unified Network Security & offers a one-stop solution to secure all the networks with multiple products & services such as, VPN servers, firewalls, guest management solutions & proxy servers.

Sharing the data on cyber-attacks, a Bengaluru-based cyber security startup, Seconize says, “Nearly 50 percent of all security attacks are targeted at small and medium businesses, many of which go out of business after being subjected to one such incident”.