The benefits of investing in cyber security for your business
So far during 2021, around 30,000 websites have been hacked daily, whilst it’s estimated that on average, there is a new cyber-attack on the internet every 39 seconds. Whilst these statistics are truly staggering, they bring some much-needed attention to the importance of cyber security within business. As these attacks are constantly evolving to become increasingly complex, sophisticated and harder to stop, so do the methods that are put in place to protect against them.
Despite there being an estimated 300,000 (yes, you read that right!) new pieces of malware being created daily, many businesses are still operating on old or outdated cyber security systems. This leaves them at a greater risk of putting their business data and reputation at risk should they fall victim to such an attack on their IT infrastructure. To provide an insight into the importance of cyber security, below we’ve outlined why your company must invest in this area to ensure your business’ continuity in the case of breach.
An escalating risk
Cyber-attacks aren’t going to stop any time soon. In fact, they are highly likely to continue to get worse. With an overwhelming number of modern businesses being reliant on technology to operate, alongside the arrival of new threats such as advanced malware, it’s vital to take steps to protect your IT infrastructure. Investing in cyber security provides the opportunity to establish security policies and systems that deal with both known and emerging threats, ensuring your business stays secure
A robust infrastructure for growth
The process of implementing cyber security requires getting to grips with your business’ data and how this is managed. Going through the process of investing in cyber security will give you a robust framework to function within as the business expands; one that continues to provide protection even as the volume of digital assets grows.
Avoiding the costs associated with a cyber-attack
If your business comes under attack, it can have a whole range of financial implications. Operational disruptions can be expensive, and you may find that your business is hit with lawsuits if your client’s confidential data is compromised as a result of an attack. Reputational damage, intellectual property theft and loss of revenue due to stalled operations can also add to the bill. Investing in cyber security for your business in advance of any issues arising can help to avoid a situation where you suffer catastrophic financial loss as a result of an attack.
Credibility and assurance
From clients and customers to investors and partners, if you can demonstrate that you’re investing in cyber security to protect your assets and data, then it helps to build credibility and trust within your company. Cyber security is increasingly becoming a priority for many people and organisations in terms of those that they work with and contract on a regular basis. Being able to show that you take this seriously and have rigorous policies and controls in place will inspire a lot of confidence in your business.
There are a number of different regulatory standards that require compliance from every business today, no matter how small. Not least of these is the GDPR, which introduced stiff fines for organisations that don’t take steps to protect data and avoid cyber security attacks. Investing in cyber security now can help to avoid regulatory penalties in the future.
To find out more about cyber security and the services we here at Servnet can provide for your business, please visit the ‘Cyber Security’ on our website and contact one of our specialists to discuss your requirements.