A nimble organization needs to be ready for growth — and cuts. Sometimes business closure or shutting down a unit is needed, either as part of the evolution of a company, as part of a company’s growth via merger and acquisition, or as the result of restructuring or for some other reason, such as a loss of business from a pandemic.
If business closure has to be done, do it right. Vital but often overlooked steps enable your organization to make the transition securely, safely and with minimal disruption to the rest of the business.
It’s important to realize that business closure is a special cybersecurity event in the life of your organization for two reasons. First, the actions for doing it securely span the whole spectrum, including policy, access, partners, compliance and data destruction. Second, everything has to be done quickly and in the right order. That’s why cybersecurity in mergers and acquisitions comes into play, and why a security checklist is your friend.
How to Navigate A Business Closure
The three parts of secure business closure are assess, disconnect and destroy.
Start with assessment when managing a business unit closure securely.
Conduct a detailed inventory of all hardware, software and services, as well as data and intellectual property accessible by employees inside the business unit.
Determine who has access to what.
Create an inventory of certificates, records, service accounts, backup processes and other areas where the business interacts on a data or authentication level with third parties.
Track down all the shadow IT, including cloud services, both authorized and unauthorized. Check for installed apps to find shadow IT services they ..
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