In today’s business world, cyber security is more important than ever. With so much of our lives and businesses being conducted online, we must protect ourselves and our customers from potential cyber threats.
In this blog post, we’ll explore why cyber security matters for your business and some simple steps you can take to improve your company’s cyber security posture.
What is Cyber Security?
“Cybersecurity is the use of processes, technologies, and controls to ensure the protection of programs, systems, data, and devices from cyber threats/attacks.”
In other words, cyber security is the practice of protecting electronic information from unauthorised access or theft. It includes measures to protect both hardware and software from attacks.
It is also known as electronic information security or information technology security and the term applies to many contexts. Its types include; application security, Internet of Things (IoT) security, cloud security, network security, and critical infrastructure security. These types are helpful against various forms of cyber-attacks.
Reasons why Cyber Security is important for Businesses
Below are some reasons why cyber security is essential for our business:
To Ensure a Safe Place
With the growing technological use in businesses/organisations, the risk of cyberattacks has increased massively. According to a study conducted by Accenture and the Ponemon Foundation, the number of attacks per company increased by 31 percent.
With proper cyber protection, businesses can create a safe space for customers, employees, and stakeholders.
To Avoid Damage to the Reputation
The loss of sensitive data can cause a business to lose its reputation in the longer run. Implementing the correct type of cyber security can protect the data customers have entrusted the business with and safeguard their reputation and progress in the market.
Protection from Financial Loss
The average cost of ransomware attacks in the UK was around £940,000. With cyber-attacks rising, businesses need to take steps to protect themselves.
Stable Organisational Performance
Implementing correct cybersecurity practices can help businesses showcase stable performances. It ensures safe networking among customers and organizations and smooth running or operation. And this, in turn, leads to an increase in businesses’ overall productivity.
Quick Zero-day Vulnerability Fixes
Good cyber security posture can help you address zero-day attacks/vulnerabilities quickly. When one is discovered, you need to react and patch it as quickly as possible, giving hackers the smallest window possible to exploit your systems.
How to Implement CyberSecurity?
Cyber security is an essential issue for businesses that rely on computers and the internet. By taking the steps outlined below, you can help protect your company from the damaging effects of a cyber-attack:
- Educate employees: Train your employees about cybersecurity threats and best practices.
- Two-factor authentication: Use two-factor authentication for sensitive accounts.
- Encryption: Encrypt all data when stored on and transported between company devices.
- Anti-virus and anti-malware software: Install and regularly update anti-virus and anti-malware software on all company devices.
- Firewall configuration: Configure firewalls to block unauthorised access to company networks.
- Intrusion detection and prevention: Use intrusion detection and prevention systems to monitor and block suspicious activity.
- Regular monitoring: Conduct regular security audits and penetration tests.
- Quick responses to cyber attacks: Respond quickly and effectively to any security breaches that occur.
- Modernisation: Keep up with the latest security threats and trends, and adjust your defences accordingly.
Bottom Line
Cyber security is crucial for any business that relies on technology and data. Protecting your systems and information can help keep businesses safe from cyber attacks. While no system is ever 100% secure, the more technical safeguards and procedures you put in place, the less likely you are to be successfully compromised by attackers.
Read about the cyber essentials scheme, a government-backed method of certifying your business has implemented steps to improve its Cyber Security.