As a business executive, you wouldn’t ever run the risk of leaving your commercial premises in a vulnerable position. Likewise, you wouldn’t allow fraudsters to profit off of your brand through copyright infringement. In today’s climate, though, the harsh reality is that far greater threats are found online. If you have been guilty of taking cybersecurity for granted, now is the time to put things right.
The Cold Hard Facts About Cybersecurity
With a growing number of personal and business interactions taking place online, more data is stored in the virtual arena than ever before. Personally identifiable information (PII), protected health information (PHI), personal information, intellectual property, payment information, and government details are all regular features for modern companies.
If your employees or clients store any of the above data types with your company, cybersecurity is essential. The following stats highlight just some of the reasons why;
- Over 2,200 cyberattacks occur each day, equating to more than one per minute.
- The average cost of a data breach has grown by over $137,000 since the pandemic.
- Over 40% of data breaches target SMEs with under 1,000 employees,
- Malware increased by 358% in 2020 alone.
- Over one-quarter of firms take more than 60 days to respond to vulnerabilities.
In short, cyberattacks happen all the time and cost companies millions of dollars every single year. Aside from the direct financial costs and regulatory costs, most businesses will find that reputational impacts are too hard to bounce back from. In fact, the worst cases have been forced to shut down altogether. If you wish to avoid this outcome, cybersecurity must become a priority.
The Benefits of Cybersecurity
Prevention is the best form of protection by far, not least when dealing with cybersecurity. Aside from avoiding the fallout of a data breach or attack, putting the right measures will deliver a plethora of benefits for your company. This extends to the customers and employees too.
The National Institute of Standards and Technology (NIST) produces a lot of helpful advice to encourage companies to take cybersecurity more seriously. You should pay attention to the following factors;
- Employees won’t be as productive if worrying about cyber vulnerabilities,
- Customers may avoid thee business if cybersecurity isn’t up to scratch,
- Senior staff and executives will be regularly distracted by the cyber threats,
- The brand image will be more professional when cybersecurity is in place,
- Your venture remains uninterrupted by enforced downtime.
Good cybersecurity measures will save time and money while cultivating a better working environment for all parties, ranging from employees to clients and financial backers.
How to Master Cybersecurity
Good cybersecurity requires the right infrastructure, smarter user habits, and instant responses to any breaches that break through the net. Partnering with the best cyber security in South Carolina has to offer can put you on the right path. Aside from developing the right tools and tracking facilities to prevalent issues, working with experts in the field can develop better employees. The vast majority of attacks target human error, but suitable training will reduce the risks.