Why Cybersecurity is a Must-Have for Every Business

We are currently in an age where technology is advancing rapidly and most companies are already trying to fully digitize their processes. We are all going online for all the details that we need in our company, and that is exactly why they need security arises. Cybersecurity is now very important that it is one of the growing industries in the world alongside Artificial Intelligence, Big Data, IoT, and Mobility.

Why There Is a Growing Need for Cybersecurity

The number of people that uses social media has continued to increase year after year. As of 2018 June, 53% of people in rural areas and 62% of the people in the urban area already have access to the internet. This is a significant increase in the number of people using the Internet and it also brings about an increase in the number of times potential cyber threats. Now that we are in 2020, it is safe to say that the number of people using the internet has increased significantly from 2018, and the number of potential threats to cyberspace has also increased significantly.

When you are talking about cybersecurity, some of the problems to pay attention to are the privacy of citizen data, spam, and botnets, penetrative hacks, malicious malware, etc. As the industries continue to develop and expand, the strengths of the cyber attacks have also increased over time. This just points out more and more, the need for cybersecurity to be enhanced. Many companies have already had to deal with cyber-attacks and have lost some of their resources to the attack or have expended it to prevent the attack.

Why You Have to Take Cybersecurity Seriously as a Business

If you have invested your time and resources into starting a business, you aim to ensure that your business grows from that thought in your mind for many years into an entity that is very profitable and fully functional. As you continue to grow your business into a successful entity, it will attract more people. 

Your customer base will continue to grow and you will have to be responsible for keeping the data of each customer that has purchased or transacted with you or the prospects that you are targeting for your marketing campaign. This implies that you have access to the personal information of these people and you have in your hands some of the information that they value the most in their lives. This leaves you with a great responsibility to ensure that this information is secure. If you fail at this, you put the customers at a big risk. 

In addition to this, your business as an entity of its own also has a series of internal information that is considered private and confidential, and can’t fall in the hands of the wrong people. So, you must protect this information as much as you can. Considering that both the company’s personal information and the customer’s data are online, the only way to ensure that they are all safe is by employing cybersecurity. If you are not paying attention to cybersecurity as a business, you run a great risk of being grounded in a lot of ways.

Look at it in this way. What you need to do is simple. You need to secure the customers’ data in your care as well as your company’s data. However, you intend to do this through a complex process of cybersecurity.

By now, it is futile and needless to contemplate whether or not your company can be subjected to cyber-attacks. If you are thinking that you are still a small business and can’t be attacked, you are being delusional. We are already at a point where cyber-attacks are talked about in terms of when it will happen not if it will happen. So, it is better than you are prepared for the eventuality of such a situation. While all the software and hardware, consultants and tools for cybersecurity all come in at very expensive prices, they do not give immediate impacts positively like other additions that are technologically based do.

However, having a sound plan or system in place for your cybersecurity is a good selling point to your clients and customers as people get more enlightenment on the issues with poor cybersecurity and cyberattacks. It is important for your business that you are in charge of cyberspace. Here are some ways to ensure this.

• Know What Cybersecurity is and How it Applies to You

Knowing that there's a threat and understanding the threat is the first thing to do if you are going to protect yourself and business from a cyber attack. Many businesses and business owners usually give themselves a sense of security when they start to think that their business is too small to be attacked especially when the news of a large scale security breach is out in the media space. However, this sense of security is very false. The threat is real and it does not apply to just the big companies.

In 2015, 43% of cyberattacks targeted small businesses according to Symantec and this number hasn't dropped since then. So, in your next custom essays, you should include the fact that cyberattack is a problem for all of small-sized, medium-sized and large-sized companies and recommend to your bosses that your cybersecurity measures should be tightened up. This is one problem that all businesses have to deal with irrespective of size.

• Seek for Advice

You need cybersecurity irrespective of the kind of business or the industry that your business is in. Even if you're a technology-based company, it will do you some good to work with someone to give you some assignment help from the outside. There is a constant change to the data and technology around cybersecurity. So, although, you may be working with some brilliant technology-inclined individuals, if they are not focused on security, you will still be vulnerable to cyberattacks.

So, it makes sense that you work with a professional in cybersecurity to give your business the cyber protection that it needs. Meeting with a professional is the right step, it ensures your security. But in case there is an attack, it can also help you to deal with resulting lawsuits as proof that you did all you could to ensure cybersecurity.

• Have a Plan and Develop it

It is important for your business that you have a defense plan and policy for cybersecurity. This could be a part of your monitoring facility or consultancy. The plan will contain the measures that your company must take to ensure that your company’s network and employees get protection from these threats. Like a college paper, this policy will also include all the steps that individuals working in your company will take every day to ensure that the personal information of the company and your customer data is secured.

Your plan will also include the processes to be followed in the case that there is a cyberattack. The plan will be well detailed so that it is easy to follow and it will also be tailored based on the type of business that you are and the industry that you are in. For instance, if you are writing the cybersecurity plan for your eCommerce company, you can’t write something as detailed as the plan for a health company or a fintech company even though the plans have the same basis. You can perform the plan in-house, but it will be included in cybersecurity consultancies as ongoing monitoring.

• Get Covered

As a business, you also have to consider if you are going to be needing cybersecurity insurance. A very scary fact about breaches in cybersecurity for most small-sized and medium-sized businesses is that, once they suffer a breach, they are unable to cope afterward and within a year of the breach, they cease to exist. This is why cybersecurity insurance is something worth considering. It can move the risk of attack to the insurance companies from your business.

You should, however, not that your cybersecurity plan can’t be just insurance. Your policies will have strict provisions that contain the measures your company will undertake to receive coverage. So, in the case of an attack, the insurance company will check to ensure that you complied with important procedures and policies before they pay the claim. In this way, cybersecurity insurance is also good as they ensure that you comply with your plans for cybersecurity.

Cybersecurity insurance is very important for you to offset the huge losses that are a result of a security breach. Although it does not help to restore the reputation of the brand, it is still important for you to appropriately deal with a cyber attack.

Conclusion

The threat of a cyberattack is on all sizes of business and in all industries. So, you do not have the luxury of hiding under the shelter of a small business. You face the same risk and you have to deal with it appropriately as well.