There’s a widely held belief that only big organizations are vulnerable to cyberattacks. But unless you’re operating a business in a vacuum on top of Mt. Everest, your company—regardless of size—can face all types of threats, including ransomware, phishing, and even denial-of-service (DoS) attacks.
Thus, it’s in your best interest to always ensure that you have adequate cyber security in your organization.
Protecting your business against digital threats can be easier said than done, especially if you own a small company.
Not everyone can afford to set up an in-house IT department to take care of all things related to computer data and networks, so it’s a good thing you can work with a cyber security consulting services company.
In doing so, even if you’re running a small organization, you can ensure the safety of your digital assets.
But beyond securing your computers and network, did you know that cyber security can also boost business growth?
Unfortunately, even with the risks that cybercriminals can throw at organizations, many companies fail to invest in security.
The question is, how can protecting against hackers and various online threats give your business leverage?
According to managed IT services in Dallas, having a secure computer and network assets will give you and your team peace of mind and prevent disruptions that can otherwise cause downtimes in how you conduct business.
What Is a Cyber Security Breach?
Before you can address cyber threats, it’d be a good idea to be aware of what makes up a security breach.
Just like treating any disease where a doctor must understand the condition—or, at the very least, the symptoms—before they can prescribe treatment, you must learn to recognize a cyber security issue once it occurs.
Simply put, a breach happens when you discover an attempt by an unauthorized entity to access or use your computer, network, data, or IT system.
Note that it doesn’t matter if the attempt was successful or not. The mere act or effort of gaining unauthorized entry into your systems may constitute a breach.
Moreover, cyber threats don’t always come from outside your business. For instance, your customers’ privacy may be vulnerable if one of your employees accessed customer records using an unsecured computer.
Ultimately, whatever happens after a cyber security breach is your organization’s responsibility.
Why Is Cyber Security Vital for Business?
The fallout from a cyberattack can drastically affect your brand. Some companies can survive the consequences, while others aren’t as fortunate.
That’s why you need to invest in protecting your digital and network assets.
Indeed, just like any other aspect of your business, cyber security can come at a cost. That said, you must do careful research and cost analysis to ensure your security fits your enterprise needs and budget.
But while costs are a crucial consideration, they shouldn’t be the sole basis when choosing your IT security.
You can always get back the money spent when your business expands. Keeping your data and network safe can help grow your company. Here are the reasons cyber security is vital in business growth:
1. Gives Satisfaction to Consumers
Most consumers nowadays are aware of the threats that can come from unsecured devices and networks. Identity theft and unauthorized credit card use are two risks that individual consumers face when using unsecured digital channels.
As people become more aware of these threats, they also become better skilled at protecting themselves.
Consumers protect their data online by making sure that they only buy from companies that implement adequate security protocols online or in point-of-sale terminals.
So to expand your business, you must have cyber security that’s at par with current standards. By doing so, more customers will choose you over your competition.
2. Protects Your Company’s Information
Information has become a currency in today’s economic setting. You may have even heard that it’s the most valuable asset any organization can own. But because of that, businesses are in constant threat of getting their information stolen by hackers.
Without adequate security, you can lose crucial data about suppliers, customers, and business processes.
While you can argue that you can rebuild or reacquire any lost information, some of your customers may sue you for mishandling their data. You can’t have business growth if you’re facing court action from various sectors.
Investing in cyber security can help you avert a business meltdown due to information loss.
3. Simplifies How You Do Business
An effective cyber security system will allow you to streamline all your business processes. For one, you can automate many aspects of your operations without fear of your overall system getting bogged down or, worse, hacked by cybercriminals.
In short, having all your computer and network vulnerabilities patched up can only mean better efficiencies in the way you do business. With a more efficient system, you save time and money, significantly contributing to your bottom line.
4. Improves Website Performance
Most consumers today buy or research products and services via the internet. Your company’s website is essential in ensuring that your customers get the online experience they’ve come to expect from your brand.
A faster and better-performing website can give you a higher search engine ranking and engage your audience more effectively.
With adequate security in place, your website will be less exposed to threats like DoS or distributed denial-of-service (DDoS) attacks that can disrupt your website traffic and drive away potential customers.
5. Ensures Compliance With Authorities
If nothing else, investing in an effective cyber security system ensures that you can keep the doors of your business open. Like consumers, government authorities increasingly require big and small companies alike to have the proper mechanisms to protect customer data.
So to grow your business, you must comply with the security policies recommended by government agencies.
6. Sets the Stage for Cloud Computing
More businesses are now bringing their data management and business processes to the cloud. With the recent shift to work-from-home setups, you can expect that mobile collaboration via cloud computing will sooner or later become the norm.
As more people or parties outside your company collaborate with your business, enhancing your cyber security systems makes perfect sense. By doing so, you’ll be in the best position to seamlessly adapt to the cloud and avoid getting left behind by the competition.
Cyber security is a significant driver of business growth. Without it, hackers can steal your business data and disrupt processes. Worse, vulnerable computers and networks can ultimately damage your brand reputation. As cybercrimes continue to escalate, you must invest in securing your digital assets from attacks.