Everything your company must know about bug bounty programs

Digital transformation is not a choice. However, with tech adoption comes with cyber risks and concerns, many of which require constant attention. It is important to understand that almost every company operates in what is called a hybrid, heterogenous, and complex IT environment, where cloud and on-premise solutions and services co-exist. Finding cybersecurity vulnerabilities, and fixing them in time, is the best proactive stance. If you are wondering, if it’s possible, and how to hack your company’s recorder, the answer lies in engaging the security community. Ethical hackers can help your business in many ways, and every organization should consider having a bug bounty program. 

The basics

In simple words, a bug bounty program sets the guidelines, rules, terms & conditions, to employ ethical hackers to find and detect vulnerabilities within an existing IT framework. While steps like network scanning and penetrative testing do matter, bug bounty programs are a set ahead, because your company is trying to beat the bad guys at their game. 

Knowing the challenges

Before you consider having a bug bounty program for your business, there are a few things to consider. Firstly, the program has to be well-defined, and you want to be sure that it is implemented as intended. Keep in mind that ethical hackers expect to be paid for the work they do, and there has to be some level of transparency in the program. For instance, how will your company decide if the concerned hacker has managed to find a vulnerability? In other words, what kind of proof are you looking for? For vulnerability detection, the pay must be handsome enough, or else, ethical hackers wouldn’t be interested – simple. 

Take help

The good news is you don’t have to worry a lot about running a bug bounty program, because there are companies that can help you create and manage one. They can either manage the program, or can hire ethical hackers on their payroll and extend the services to your business. It works both ways, depending on the arrangement. 

Being proactive

Today, small and large companies alike have bug bounty programs, and they work extensively to make their programs more appealing to the security community. Of course, ethical hackers do have an edge in such programs, because they may choose not to report a bug or flaw. This is precisely why the pay has to be good enough to entice them to the project!