When you think of smart investments, you may think of stocks, real estate or the latest tech startups. There is a different type of investment that offers immediate and long-term advantages cybersecurity. This investment is crucial to protect businesses from costly cyberattacks as well as helps them avoid expensive fines and losing trust from their customers.
As digital transformation transforms the business operations of companies, they generate and manage an ever-growing amount of information. This data must be managed across a variety of complex computing environments. These environments include cloud data centres, enterprise data centres, and a range of connected devices like Internet of Things sensors and robotics. This added complexity creates a larger attack surface, making it harder to secure critical information from compromise and loss.
In addition to the financial cost Data breaches can also damage the image of a business and lead to long-term losses in sales. A recent study showed that the average cost of an incident involving data breaches is $4 million – an impact that is difficult for any business to take on. In addition, regulations such as the California Consumer Privacy Act and the General Data Protection Regulation impose steep fines on companies that don’t meet strict security standards.
In today’s world of competitiveness security is a must. is key to growth. A preventative pound is worth a pound of cure, and it’s more efficient to invest in preventative measures instead of having to pay for cleanup and recovery after a breach. Utilizing the appropriate tools and technology, companies can ensure that their information is secure during transit, rest, and in the middle. This means creating encryption, focusing on the human firewall, and executing regular deep-checks.