Part 2 will discuss Compliance and Data Security.
Biotech startups undergoing a SOC Type-I audit may find there are IT prerequisite requirements, such as having a firewall installed. The failure of this audit may disastrously result in investment funding being withdrawn, delaying your launch date, or the loss of partnerships.
Problem: How will a venture comply with all IT requirements?
Solution: Perform a thorough assessment of security and technology infrastructure.
Retain an impartial third-party, which can be a managed IT services provider, to survey your IT infrastructure with the premise that your biotech venture may later be audited at the request of a prospective client, investor, or vendor. The objective is the prevention of your startup from failing the audit and suffering subsequent severe financial losses and loss of reputation from data breaches resulting from cyberattacks.
4) Data Security
Data will be your biotech startup’s most valuable asset, and that is why it must be securely stored. A data breach and loss of confidential or sensitive data may damage your company so severely that it may not be able to recover.
As the number of your employees grows, your company will be increasingly vulnerable to phishing attacks, internal data beaches, and cyber attacks carried out through social engineering. The probability of data loss or virus infection will also become more likely as the volume of data generated by your company grows.
Problem: How will your data be protected as your biotech company grows?
Solution: Strengthen security system and provide employee training.
A managed IT services provider will need to maintain data security while also allowing for increases in data storage capacity. They can help create a strong data security system customized to meet your company’s technical and regulatory requirements.
In order to remain compliant in terms of data security, your company will need to consistently employ security measures and ensure your employees have regular training regarding cybersecurity. Research found that nine out of ten cyberattacks stemmed from human error.
Alpha Engineering and Biotech
Alpha Engineering Associates, Inc. has assisted both new and established companies in the biotech industry. Alpha has been involved with the implementation of over 50 LIMS systems ranging in size from small, “off-the-shelf” software systems to very large, highly customized, multi-functional systems for both governmental agencies and private enterprises. For affordable client-focused network consulting services and solutions, please call Alpha Engineering Associates today at (410) 295-9500.