Here is an alarming fact alert;
More than 90% of cybersecurity breaches are due to human error, and more than 70% of enterprises lack a cyber security incident response plan.
Furthermore, the age of technology has brought upon a new threat of cybercrimes that expose the business to the risk of losing its confidential information, such as client data, company data, and private, confidential information of the clients and employees.
A business needs to make sure its cyber security is up-to-date to maintain the trust and confidentiality amongst the clients and the employees. Enterprise security is getting compromised in multiple companies considering the fast growth in our cyber sector and our businesses not being prepared to face automated cyber-attacks.
On one end where cyber security doesn't just safeguard your business digitally; on another, it also protects your business' reputation in the market. Considering an upgrade to cyber security is the need of the hour.
Data breaches destroy the relationship between the company and its clients.
Larger companies can take a slight hit from their breaches, but can your business survive if there is a data breach to a smaller business?
To overcome the high risk of malicious attacks on your business, here are significant reasons why your business needs to add more enterprise security:
Protection against Cyber-Attacks:
Malicious software such as Malware consists of viruses, worms, Trojan, and bots. Which works differently; however, one common thing is that they work to gain illegal access to your computers without anyone's knowledge and obtain classified information, which competitors can use to gain the upper hand, including identity theft.
Backdate fact: In 2017, one of the three major U.S. credit reporting agencies, Equifax, accidentally exposed 145.5 million accounts, including names, social security numbers, dates of birth, addresses, and, in some cases, driver's license numbers of American consumers (Symantec).
Similarly, Adware and Spywares also infiltrate your enterprise data by being in archive logs in your mailboxes or are disguised as a simple download link which can destroy your company's security.
To avoid the slightest chance of getting harmed by this software, your company needs to hire a professional cyber security expert who not just upgrades your cyber security and monitors the cyber-attack activity but also is part of the awareness drills in your company which educates the employees on how to recognize a malicious cyber-attack and how to deal with them.
Protecting Staff Data from Hijacking:
As a business owner, it's your responsibility to safeguard your employee and their data. These individuals use your company networks and programs, and a data breach would mean their sensitive information gets lost. This will cause distress in your employee, causing them to be less productive, and they will have a sense of loss of trust in the company. Think about feeling that how your employee would feel exposed.
A security breach can quickly happen through an employee's device if a business has a weak security system.
An exploiter may gain access to an employee's device, which can be a pathway through which a breach may happen—leading to disturbance and mistrust in the workspace instead of a harmonious space where people try to be productive. When there's a breach, there will be an automatic decrease in productivity from the employees, thus leading to decreased productivity of the business, which may lead to the company falling behind in a line of competition.
In 2019, First American Financial Corp. had 885 million records exposed online, including bank transactions, social security numbers, and more. (Gizmodo)
Suppose you have a good IT security team and an updated security system. In that case, your company, employees, and clients will feel confident about being part of a company that protects its data from external breaches.
Being Prepared and Quick Response:
A complete IT security team cannot root out every single threat, but it can monitor and take prepared action to prevent more extensive damage. Cyber-attacks are adaptable, so there might be accidents where a hacker might slip through your defenses.
In the situation of slips, your company needs swift action, and for that, you need a trained IT team with IT specialists that protect your company and its sensitive data from getting breached.
Don't delay in adding up IT Security. If you have an online presence and you're an easy target, hackers can easily manage to harm your business regardless of being a small or big business. IT security is the need of the hour, and investing in it will bring nothing but good to your business. IT security laws are growing tighter, which means that if your company violates the law, it faces high penalties from the law.
In Europe, the General Data Protection Act (GDPR) is the action taken to protect people's digital data. You can be fined 20 million euros or 4% of your annual turnover for failing to secure your site.
Yottabyte's primary goal is up-to-date, well-maintained, and effective enterprise security. Our expert team assesses vulnerabilities, monitors threats, and provides threat response and mitigation services. Yottabyte helps clients manage end-to-end application and data security while maintaining intact business agility and user experience. If your business has foolproof IT security, only then will your company be able to shift focus on growth and competing in the industry.