Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

December 15, 2015

Safeguard Your Company Data – A Three Step Guide

By Achim Neumann

When it comes to data security, every company will have different needs to keep information out of the hands of rogue players. However, the logical framework that governs the creation of a data security strategy remains similar across all business sectors.

If a business is looking to safeguard company data, this three step process will help make a network stronger than it was yesterday…

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1) Identify a nightmare scenario, and plan for it

No matter the business, there is information within servers that can be used to compromise it, or the lives of employees or customers. One must consider what the aftermath of a data breach would look like if it unfortunately, happens.

From enraged customers to the private communications of an executive team being posted on the Internet, a clear vision of what the worst could possibly be is critical so that a plan to repair the damagedone can be created.

2) Determine the chain of command when it comes to data security

Many businesses leave the task of security in the hands of IT, but without leadership from the management team above them, a cohesive plan to defend servers from external threats can be hard to achieve.

Working with those that manage a businesses’ networks on a daily basis, a chain of command and communication must be clearly laid out to ensure management is addressed and informed on important updates during a time of crisis.

Once these lines of communication are in place, figuring out whether current network defenses are adequate and what happens in the event of a hacker attack will become a more straightforward task.

3) Find out what risks exist, and address them ASAP

Once a data security team is in place, risks can be effectively identified so that they can be neutralized. While a current staff member may be capable of the work, it is a good idea to consider bringing in outside experts to evaluate systems and train other staff members.

A professional data security team will also be able to spot gaps in security that current in-house IT staff may have been oblivious to. Hiring trainers to further build network security skills with current IT employees will also build their skill set and allow them do their jobs more effectively in the future.
Once the aforementioned has been implemented, the next step is to isolate weaknesses in a given system, and then draft a policy statement that outlines expectations for all employees in this department with regards to data security.

All of the above information is very important for someone who plans to buy a business or sell a business as well. For someone looking to buy a business, it will give peace of mind that the previous owner took their business seriously and the sensitive information of both clients and employees. If an owner plans to sell a business, having a strong security network and up-to-date systems will most likely increase a business valuation as the aforementioned becomes an asset and something new owners won’t have to spend time investigating and implementing.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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Andrey O, Investor

“Finally enjoying retirement after recently selling my business using the services of A Neumann & Associates. Joe Oddo provided the conduit to a successful transaction. Joe knew when to inject input and when to simply listen and allow the buyers to vent, step back and regroup. The outcome met our expectations and got us to the finish line, which included my staying with the company six months in order for the buyers to get their footing and keep our workforce in the loop. He helped at every step by providing his expert guidance & resources. Thank you!”

Emily Parker Myers, Co-Owner - Myers McRae

“I had been in touch with Karin and Gary from A Neumann & Associates regarding some opportunities and was looking forward to meeting with them. Hence, when they organized a seminar in Princeton, NJ, I was quick to sign up. The seminar was very informative as the team walked the attendees through various scenarios and referenced real life buying/selling situations they had been through. The sessions by Gary, Karin and Achim were crisp and focused and brought clarity to potential seller and buyers. I strongly recommend the team and look forward to continue working with them.”

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“Thank you for your Event on "How to value, Sell, and Buy A Business for Maximum Profit" and the insight into ANA’s approach on what is involved in the Business Exit for sellers. Garys Hervieiou's "Business Valuation", Achim's "Deal structure" presentation and Karin’s "Preparing the Package" are real street knowledge shared. They answered attendees questions which makes it more interesting for learning from others. Great for small businesses like us. The presentations were totally worth our time and travel for the event to Princeton, NJ from Rockville MD. Ravi Bhutani, President, CIPS”

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“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

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