Data security is when protective measures are implemented to ensure unauthorized users cannot access databases, websites, or computers. The process also offers a way to protect data from corruption or loss.
Today, no business – whether small or large – should overlook the importance of security measures. However, if you don’t have a sufficient plan in place for information security, it may result in serious consequences and costs for businesses. Some of the reasons that the proper security measures, such as zero-trust and passwordless authentication, are so important can be found below.
Ensure Ongoing Business Continuity
Modern businesses operate in data-driven environments. Most organizations cannot function without the presence of data because it is now considered the main asset that’s found at the very core of business decisions and operations.
What would happen if you came to work in the morning to discover your data disappeared because of a natural disaster, equipment failure, or breach? All these events would likely leave your business unable to operate. Data security helps ensure that regular backups are made, and that data is available when the original data is lost or inaccessible. This helps ensure ongoing business continuity.
Avoid the Potential of Data Breaches
Every business and organization is responsible for due diligence when it comes to employee and client transactions and records. Data breaches can cause multiple negative consequences for businesses of all sizes.
Some of the consequences of data breaches include:
- Regulatory or legal consequences related to breaches
- Financial costs
- Impact on future profits
- Damaged brand reputation
- Loss of public trust
Since a data breach costs businesses of all sizes an average of $120K per incident, business security is something you can’t afford to ignore.
Prevent Unauthorized Access
Today, hackers are savvier than ever before. Thanks to this, they have developed advanced techniques to evade the most innovative security measures used. If your business has not emphasized security, you almost leave your front doors open with a welcome mat. Some of the most vulnerable areas of any business include:
- No employee awareness regarding proper security practices
- Smart devices, laptops, and computers
- Peripheral equipment
Increasing the layers of information security in place will go far when it comes to preventing unauthorized access to your business equipment and business systems.
Protect Your Business Reputation
Your goal as a business owner is to provide trustworthy services to your clients. In return, your customers will provide their sensitive information every time they make a purchase.
Even though no business starts with the intention of harming their clients, an accidental or unintentional data leak may have a huge impact on your overall business reputation.
If a security breach occurs, more than just money is at stake. When data is stolen, it can put your clients at risk. A consequence of this is the future of your business may also be at risk. Consider investing in a data wrangler that will help you stay on top of all your data needs.
Remember, developing a good brand reputation is something that takes years. However, it can take mere seconds to destroy.
Avoid Automated Bot Attacks
Recently, the cyber intrusion process has started relying on automation. These automated cyberattacks are done without any human involvement. The automated bot attacks divert your security team’s attention, which allows them to have easy access to your systems and information.
Protecting Your Business Against Cyber Security Threats
Some businesses overestimate their ability to handle data loss if a breach occurs. For example, companies believe they can handle phishing efforts but don’t realize that most data breaches don’t occur because of this. Unsecured smart devices, networks, endpoints, websites, and portals are vulnerable, too, and can be infiltrated by hackers. Because of this, it is imperative to implement and audit your security measures regularly. If you don’t have an in-house IT team to do this, hire a third-party service provider. Ensuring your business is protected from hacks, and other nefarious actions is a must in the digital era and something you can’t afford to ignore.