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Cyber Security and Digital Data Protection Concept. Icon graphic interface showing secure firewall technology for online data access defense against hacker, virus and insecure information for privacy.

How Important Is Business Cybersecurity?

Cybersecurity issues are becoming increasingly commonplace with 86% of organisations compromised by a successful cyber attack, as of 2021.

Unfortunately, companies often underestimate the danger of these attacks and can leave themselves vulnerable. With cyber attacks becoming ever more sophisticated, businesses need to make cybersecurity a priority in order to protect their organisation and this applies for small business and large corporations alike.

What is business cybersecurity ?

Business cybersecurity is the protection of any internet-connected systems used for business operations from cyberthreats, including hardware, software and data.

Why do businesses need a cybersecurity strategy?

Without a cybersecurity strategy in place, businesses leave themselves vulnerable to a range of threats and identify themselves to hackers as an easy target. As businesses rely more heavily on digital operations such as cloud services, they also make themselves more at risk of cyber attacks.

Previously, businesses relied on simple cybersecurity solutions such as firewall or antivirus software, cyber attacks have become far more sophisticated over recent years, with the potential to completely destroy a business and their reputation. This has given rise to an increased number of cyber security providers and facilitators that help businesses avoid the damage a cyber attack can cause, or limiting the damage caused by a cyber attack should it occur.

A spokesperson from Lucidica commented: “A cyber attack can cause deep and unsalvageable damage to any business. Therefore, having the right protections and procedure in place is one of the most important steps you can take to minimise these risks.”

Implementing a proper cybersecurity strategy should be a must for companies of all sizes, allowing them to protect themselves at different levels of the business. This is just as important for businesses in heavily regulated industries such as finance or healthcare, to smaller businesses who still deal with customer data.

Why is cybersecurity more important than ever before?

More than ever before, cyber-attacks are becoming not only more prevalent but more serious. From cyber crimes designed to compromise client data, to targeted attacks to get money such as ransomware attacks, there is a whole world of cyber threats out there that companies need to be aware of. Cybercrime is rising more and more each year meaning that companies must have sufficient cybersecurity protection in place.

A spokesperson from GlobMed commented: “Sensitive industries like healthcare and medicine as well as financial products require the best cyber security and protection on the market. Protecting customer and company data is one of the cornerstones of being a trusted company and therefore, companies should never neglect this essential service, particularly in industries where a breach of any kind can negatively impact customers, clients or patients.”

Why is today’s workforce more at risk of cyber attacks?

Companies are increasingly reliant on technological solutions to fulfil their business functions, with everything from cloud services, to API services, to serverless computing. While this makes companies far more efficient and allows them to automate a lot of processes, it also makes them vulnerable to disruption from attackers who go after things such as API and have the potential to drastically disrupt business processes. With more opportunities for companies to have constant connectivity and data sharing, there are more entryways for hackers and potentials for data breaches.

Why is cybersecurity important for business growth?

Cyber threats are something that affects everyone which is why it is crucial for businesses to take the necessary precautions to keep their organisation and its information safe from hackers. If a cyber attack is successful, it is possible for companies to leak client data which could be devastating for company reputation as well as company revenues – they stand to lose everything.

Implementing strong anti-malware and antivirus protection is vital for companies who want to prevent malicious attacks from compromising their system. Large businesses are at risk due to the huge client base they have and the financial factor, making them an appealing target for hackers. For example, large companies could be targeted by hackers demanding ransomware of hundreds of thousands of pounds. However, even small companies are at risk. Startups and small companies must still make cybersecurity a priority or they could be setting themselves up to destroy their company reputation before they’ve even had the chance to get started properly.

Companies should also have a backup and disaster recovery plan in place to protect them from unexpected cybersecurity incidents. This involves backing up all data including images or files of the entire system. Doing this allows businesses to be able to access their files whenever they need them.