Why should businesses invest in Cybersecurity?

An overall view of Cybersecurity

Cybersecurity can be defined as the practice of protecting systems, networks, programs and data from digital attacks. Through the implementation of cybersecurity measures, companies are protecting themselves from threats against networked systems and applications, whether those threats originate from inside or outside the organization. The cyberattacks usually intend to access, change, or destroy sensitive information, extort money from companies or interrupt their normal operations

So, what are the benefits in investing in cybersecurity solutions?

The first reason is to protect the company against external threats. Millions of cyber threats are being created every year and they have a profound cost and impact to the businesses. As time goes, the attacks become more agile, sophisticated and furtive. If companies invest extensively in cybersecurity measures that include a regularly update software, they can detect and respond to all different types of external attacks. 

Apart from external threats, the company is also liable to suffer from an internal attack, whether it’s accidental, negligent or malicious. An internal attack can come from a current or previous employee, a third-party vendor or even a partner. The businesses must be proactive in monitoring the network and managing the accesses, so they are able to respond and shut down quickly any threat that may emerge. Also, with the growth of remote work and personal devices being used for business it is very important to invest in training the staff, so they will not be a liability against these attacks.

A cyberattack might have implications in the networks and personal devices, which can become so slow that will make it impossible to work. By improving firewalls, implementing virus scanning and automated back-ups the businesses can ensure that these attacks are detected earlier, reducing drastically the implications they have for the business, which will improve the productivity of the staff.

Implementing multiple cybersecurity measures might seem very costly, however, is it is crucial businesses to understand that the cost of dealing with a cyberattack is higher. By executing these measures, companies are in a much better position to respond and recover against any threat, ensuring their operations are not affected, which will ultimately compensate for the investment made in the protection of the business.  

Ultimately, the implementation of these measures will ensure companies will maintain their reputation. Ensuring the business is safe, is crucial for customer retention, recommendations and potential partnerships and expansions.