With the media frenzy regarding cyber security, notorious hacking groups and the threat of data theft in the light of the new GDPR, many businesses are feeling pressured to adhere to security regulations in order to become Cyber Essentials Certified. The question that many businesses are considering however is “Is it worth it?”.
Many businesses decide to pursue the Cyber Essentials certification in response to pressure from suppliers, customers and significant shareholders. Some companies are even implementing this into their business model, only working with suppliers and distributors who can prove their cyber resilience and compliance. From their perspective, becoming Cyber Essentials certified means that you can be trusted.
Companies holding personal data can often be pressured into achieving the certification in response to a damaged level of consumer confidence, with some companies even going as far as to use their new certificate as a unique selling point in their marketing activities, relying on the connotations of trust and security to sell the idea of a friendly business culture that cares about its customers.
Protecting Your Business
In the quest to decide whether it is worth investing in a Cyber Essentials certification for your business, you’re evidentially going to need to assess the advantages and disadvantages. So, let’s start with the positive. The obvious benefit of becoming Cyber Essentials certified is to protect your business from cyber-attack and to ensure compliance with all current and future data regulations. Most businesses do not think much further than this, seeing it as a necessity rather than an opportunity.
This alone is more than enough to sell most businesses. With the threat of GDPR looming overhead like a dark cloud, many businesses think it is worth their investment in line with the ‘better safe than sorry’ logic, it’s better to be overprepared for the new data regulations, instead of not being prepared enough and risking the sizeable fines that come with a data breach.
The benefits do stretch beyond this however, with many businesses finding that they can use their new Cyber Essentials certification to target a new, more security conscious market which may have previously been out of reach. As well as this, many companies have found that, in the process of implementing the new security procedures necessary to obtain the qualification, they have discovered previously unknown vulnerabilities or areas for significant optimisation in their networks, enforcing a rise in cyber resilience and operating efficiency.
So, is it worth it?
The short answer is yes. If your business holds any data, whether it is employee data, suppliers’ information or customer marketing records, the benefits of increased cyber security and data compliance are worth the initial investment. However, if your business is one of the rare few that does not handle any personal data, and your cyber security is already rock solid, you needn’t worry.
If you are unsure, the best option is to talk to a cyber security specialist and arrange a consultation to assess your requirements. At Servnet, we offer a range of Managed Security services for businesses spanning all sizes and industries. To find out more and receive an expert opinion on your businesses cyber security, visit our website here or speak to a member of our team on 0203 666 5222.