Understanding the Importance of Cybersecurity for Businesses

Technological Aspect of Cloud Hosting

Cybercrimes are on the rise.

Did you know that 30,000 new websites are hacked everyday on average?

Did you know that hackers attack 2,244 Times a Day on Average?

And it takes 6 months to realize that you have a data breach. 

If you think that your business is too small to be attacked, more than 40% of victims of cybercrimes are small businesses due to their dated and limited infrastructure. 

Understanding the Importance of Cybersecurity for Businesses

It simply means that no business is immune to cybercrimes such as phishing, hacking, ransomware and internal threats.

Having a data incident not only leads to loss but also shatters your reputation and attracts penalties.

That’s why cybersecurity has been more important than ever. Today’s cybercrimes are sophisticated and dedicated, prompting us to go beyond those simple antivirus tools.

Cyber security involves the technologies, processes and practices that are kept in place to provide protection from cyber-attacks that are meant to wreak havoc on a network system or access data without authorization.

Here are some more convincing reasons why cybersecurity is as important as your data.

Helping You Retain Your Clients:

Will you like to work with a business that has been exposed to cyber attacks off late?

Then why would customers or clients like to work with you if your business is not protected.

71% of customers admit that they would leave an organization after a data incident.

Not only these data incidents risk personal privacy and information like emails and phone numbers, they pose threat to financial accounts, social security numbers and locations.

For an organization that uses an information system to use and store customer data, this is a big issue. The occurrence of a data incident where private records where possible stole is the thing a customer can worry over.

This could lead to the loss of customers. On the other hand, a customer might be more willing to work with an organization with robust cybersecurity.

Therefore, businesses need to get proactive with their cybersecurity.

Safeguarding Your Communication Systems:

Many businesses use VoIP system to facilitate their communication. Generally, these systems are used for voice, video calling, online chatting, screen sharing, and instant messaging. 

Although VoIP is a dependable communication solution, there are certain measures you should take to avoid being hacked or having your data stolen over VoIP.

For example, hackers can get into your VoIP system to eavesdrop during important calls. They can also pose as a genuine organization to trick the callers into giving important details—a practice that is known as Vhising that is identical to Phishing which uses email or messaging to do the same thing.

Unauthorized VoIP system access is also a real concern.    

Therefore, your cybersecurity should also cover your VoIP systems. You can do this by choosing a vendor that is committed to efficient and latest security practices.

Saving Your Startup from Shutting Down:

A study by Poneman reveals that the average cost of data incident is $3.86 million. As a matter of fact, 60 percent of small enterprises were closed in six months following a data incident.

However, downtimes and stolen records are the only outcomes of a comprised cybersecurity. If a breach occurs in customer data, you can also end up losing customer’s trust—something that takes decades to build but could collapse like a sandcastle in a single event.

This risk can be eliminated with the right security tool and a little planning in the place.

Taking Important Measures:

As business moves from papers to computers, new security challenges have popped up for them. An effective and thoughtful cybersecurity service has the intelligence on threats faced by enterprises such as knowing that digital documents like PIN and intellectual properties have become top target.

One of the aspect of cybersecurity strategy is to separate network that houses sensitive staff and computer data from the network that involves non-sensitive data, assuming that in the event of data incident, the sensitive and critical network won’t be accessed by threat attackers.

Ensuring Backup:

Apart from security network and data, your cybersecurity policies should also include backup strategies. Sometimes hackers get into your data, no matter how efficient security measures you have. Taking backup of your important data is an efficient cybersecurity practice.

With an efficient and regular backup system, you not only retrieve your data, but also have peace of mind against data incident.

Bottom Line:

Why is cybersecurity crucial? Hopefully, the reason is now clear to you. It’s going to be more important in the coming years. Thanks to the ever-increasing cyber-attacks and sophisticated tools used by the hackers. Cybersecurity is no more associated with only techies or IT department-rather, it has become an important priority for everyone across your workplace. You can’t afford to ignore your cybersecurity.

When organizations are aware of the implications and are well-equipped and prepared, they can deal with a threat more efficiently and proactively. What do you think? How serious are you about cybersecurity? Please drop your valuable comments below.