If you dig a bit deeper into technology and its daily data, you will come to know that almost 300,000 malware threats are released regularly. Moreover, studies have revealed that a cyberattack takes place every 40 seconds.
All of this leads to the rising need of it consulting companies who provide powerful data protection plans. And nowadays it is easy to find such companies. Just search it consulting denver in Google, you’ll find all top listed companies in first page. Cybersecurity is no longer an additional feature; it is mandatory. It is and must be, the top priority for any business, whether small or large.
If you compromise assessment on cybersecurity measures, you are setting your business up for failure. How? The consequences of poor cybersecurity aren’t pretty. A single, powerful cyberattack is all it takes to turn things ugly for your organization.
Here is how:
1. Loss of Data:
The biggest concern for all companies is the security of their data. And not only their company’s data; it contains their customers’ data as well. Once the cybercriminals make their way into your network, they can either steal your data or corrupt it, causing a lot of damage to your company. If you run an application, you should also care about application security controls. This sounds good, but what is application security? To put it simply, it is a technique to enhance the security of an application at the coding level, making it less vulnerable to threats.
Losing data can be disastrous, especially if you have no data backup. Even if you do, the attacker gets access to your customers’ personal data which can be misused anytime. This puts your company’s reputation at risk and your customers tend to backoff, as you are no longer considered as a “safe” option for them. The prospect of significant data loss is therefore one of the most convincing reasons to hire IT consulting services, as poor security is not solely about data loss and can circulate to larger concerns.
2. Downtime:
Once you are attacked by a cybercriminal, you cannot function as you regularly do. Until and unless you solve the issue and your network is clean of all possible malware; you cannot put your data at further risk. This leads to massive downtime which further leads to loss in business. It can put your clients off as you won’t be able to manage deadlines and cause production hurdles.
3. Damage To Your Reputation:
As mentioned above, poor cybersecurity tends to damage your business reputation. Once attacked, your company can face extreme financial barriers too. Moreover, as your customer database has been compromised, consumers might worry about putting their trust in you for fear of it happening again. Worse scenarios can potentially play out too, if your business were to fall victim to a redline stealer or similar data scraping program then business email accounts and social platforms could be accessed maliciously. A hacker putting out slanderous or offensive messaging can generate lots of controversy and push away customers. Repairing this hit to your reputation is often expensive and not always guaranteed, your reputation with consumers is not something you can easily control, it takes a long time to build and only a second to erase. If you are not putting in the required efforts to protect consumer data and vital business credentials, you are definitely setting your business up for failure.
4. Non Compliance Fines:
GDPR and HIPAA are responsible for setting the data protection standards. If you are found violating the compliance laws or not fulfill the standard regulations; you can be fined by the authorities. The penalty depends on the severity of the violation and is determined by the legal authority itself. Therefore, it is important that you understand the regulations of the governing bodies before you set data protection measures for your company.
THE BOTTOM LINE:
There are various ways to enhance your business cybersecurity. And you must make all efforts to invest in it fully.
There are different elements, essential for success and high business security is one of them. The impact of poor cybersecurity management is not easily manageable. It is not favorable for your business in the long run and can result in extreme loss. It is not wrong to say that you set your business up for failure by compromising on the security.
Thus, assess your cybersecurity and take the required measures to uplift it, in all ways possible. If you are a small business, you can take manageable steps. And if you are a large enterprise, you must invest in a security infrastructure.
