Keeping sensitive data private and secure has never been more important. For many years, businesses have been trying to prevent hackers and other malicious people from accessing sensitive data.
In fact, four out of ten business (39%) reported after cyber security breaches or attacks in 2021 and as in previous years, this is higher among medium – sized firms (65%), and large firms (64%).
At best, cyber-attacks damage a company’s brand and force it to issue formal public statements. In the worst case scenario, serious business-critical data can fall into the wrong hands, and a firm can collapse because of the cost of recovery from the breach. Therefore, cybersecurity is a factual issue for organizations, and while it is temporal to treat it as a necessary evil, it need not be. In fact, cybersecurity can act as a catalyst for business growth.
Cyber security is a strategic asset
The average cost to a UK company of recovering from a cybercrime is £ 3 million, according to a Ponemon Institute Study. Worse, the impact on a company’s sales revenue can be difficult to quantify, as it can affect their brand and reputation, the loyalty of their customers, as well as potential legal and regulatory disclosures that need to be managed. .
Cyber security, when done properly, can prove to be a greater source of value and a service center than a cost center for your business. Through sound security strategy and investment, it becomes a strategic asset that drives competitive advantage. As well as ensuring that a company’s business operations remain healthy while driving innovation, a strong cybersecurity foundation contributes to customer loyalty and trust, which in turn has a positive impact on the company’s reputation and brand. Reduced financial exposure and risk, and greater resilience to cyber-attack, mean that the firm has a much better chance of withstanding an attack and allows operations to continue.
Customer data is digital gold
As companies collect, process and store large amounts of consumer data, it is vital that the business has a ‘data-centric view’ of security and privacy, in how it formulates its security program. There needs to be a paradigm shift to treat the stored data and processes as pure digital gold, which must be protected. The company needs to focus on who has access, what they are allowed to access, where to store it, and how to secure it. In this way protecting a person’s vital assets and data puts the company in the position of market leader in security, and maintains its reputation as a visual watcher for the security and privacy of its customer data.
Companies that can demonstrate leadership in protecting customer data (through a design-based security and privacy approach) will have a distinct advantage over their competitors. Data should be seen as an invaluable asset. Today, it is becoming increasingly clear to customers that the security and privacy of their data is paramount to the person with whom they do business, and to whom they bring their most valuable data assets. So cybersecurity becomes a key factor when companies gain the trust and loyalty of their customers.
Creating an environment for innovation
Understanding what internal business partners are trying to achieve is crucial, so that they can provide security as a service, and enable Product and Development teams to move competitive products quickly and safely to market. Employees now feel that they know that the data they are working with is fully protected. They also know that by experimenting with innovative approaches to product development, they are not introducing new risks to their network or product.
Today’s cybersecurity solutions feature cutting – edge technologies, such as innovative cloud solutions, Identity and Access Management, and Zero Trust architectures. By operating a business in a stunning modern environment, using state-of-the-art technologies that offer solid security features, it enables the firm to innovate and grow. They can operate on a more efficient scale, while ensuring that the organization achieves its strategic goals, enjoys long – term cost savings, and protects its critical assets and data.
Helping people prevent human error
It is important that businesses have a close relationship with all remote employees on security awareness. In order to bring as much awareness to the various methods that hackers can use for social engineering at home and on corporate networks, security topics need to be discussed and discussed consistently. It is vital that businesses create an environment where all employees are allowed to ask a question, or discuss a security issue or a current event. The more it is discussed internally, the stronger the corporate security stance, and the more resilient the business becomes to cyber-attacks.
Security awareness should be an integral part of the company’s culture, so much so that it becomes interesting and appealing to all employees as one wrong click could create disaster for your business. By integrating security into the company culture, employees are ultimately empowered and reassured that they can operate safely and innovate.
Cybersecurity at the heart of a successful business –
Source link Cybersecurity at the heart of a successful business –