5 Reasons You Should Invest In Cyber Security

Driven by global connectivity and usage of cloud services to store personal data and information, cybersecurity risk has reached an all-time high. Sensitive industries like the banking sector companies have witnessed a 238% rise in cyberattacks in recent times. Sensitive data, personally identifiable information, government, and industry information systems have become prone to cyberattacks and data breaches.

Cybersecurity is no longer something businesses can ensure just by installing antivirus software on their systems. As our society is becoming more and more technologically reliant and vulnerable in terms of security, it becomes inherently important for businesses to realize how strictly do they need to focus on cybersecurity.

So, let us scan through some of the major reasons/indicators for incorporating cybersecurity into your business and invest in security support companies:

1. You are Planning for Cloud Expansion:

One of the smartest business moves these days is investing more resources in cloud-based services. And a greater dependence on the cloud means increasing your chances of security threats. According to recent reports on cybersecurity, around 43% of the data breaches were targeted on cloud-based resources.  

Maintaining visibility across various cloud models for managing the security ecosystem of your hardware can be an incredibly time-consuming and lengthy task. This is exactly where an IT security firm comes to your rescue and provides you support in implementing a consistent infrastructure which is incredibly helpful in unifying and protecting the growth of your cloud infrastructure.

2. Your Employee Base uses Personal Devices:

An organizational environment where bringing personal devices is allowed ensures the happiness of employees. Not just employees, this BYOD (Bring Your Own Device) mechanism pleases cybercriminals as well. Although this approach of letting your employees work on their personal devices can save a lot of money, still this entire channel is filled with a number of drawbacks and you would need security resources to nullify the threats.

Since personal devices used by employees may not have the latest technologies, they become prone to easy cyberattacks. If any staff member clicks on a target link and downloads any malicious software or application, the chances of cybercriminals gaining access to your systems increase manifolds. If an employee has access to the company’s information through his/her personal phone and the same phone is used by someone else other than them, then the private information of the company becomes vulnerable to cyber breaching.

3. You have to Meet Compliance Standards:

A number of compliance standard regulations such as Payment Card Industry (PCI), Health Insurance Portability and Accountability Act (HIPAA), and Personal Information Protection and Electronic Documents Act (PIPEDA), play a major role in ensuring that the personal and financial information of your organization is safe. General Data Protection Regulation (GDPR) is another important compliance standard for companies practicing their business in the European Union.

Related topic- Compliance Checks That Businesses Need To Follow

Furthermore, the organizations which sufficiently care about their data systems security must ensure that these standards are deployed as a part of their company culture. Investment in an intelligent MSSP (Managed Security Service Provider) will certainly make sure that all these compliance regulations are properly met since they have been entrusted with managing these services. The MSSP further goes to ensuring that your organization is able to demonstrate the ongoing adherence to benchmarked standards regularly and are able to meet the performance requirements on a daily basis.

4. You have Experienced a Security Breach Before:

Even when you have been prone to a security breach in the past, it’s not too late to make improvements in prevention activities and remediate the access points. Since hackers have a vicious habit of returning to places where they have carried out their malicious attacks before, you can always make sure that sufficient insights are gained from past data breaches and your organization invests in cybersecurity to amend for security breaching mistakes.

5. You Belong to a High-Risk Industry:

If an industry deals with sensitive customer data, then all its confidential information is prone to cyberattacks at one point or another. Finance, Healthcare, Government, Manufacturing, and Legal industries are prime targets for hackers. Even when your organization does not belong to any of these mentioned categories, your security system is not completely secure from the cyberattacks. You are equally prone to malicious attacks if you share any tangible credentials with industries belonging to the given categories.

Final Thoughts

A well-planned investment in cybersecurity can play a major role in protecting your sensitive information from attackers. Experts often suggest that instead of stretching your own workforce, it’s better to rely on specialized IT consultants and companies.

They are experts at deploying the latest knowledge and technology and safeguard your resources in the best possible way. You should go after investing in tools and service providers which are masters in the security domain and make sure that your industry regulations and requirements stay ahead on the curve and all types of sensitive data stay safe.