When you think of intelligent investments, you may picture real estate, stocks or the latest technology startups. There’s a different kind of investment that offers immediate and long-term advantages cybersecurity. This vital investment safeguards businesses from costly cyberattacks as well as helps them avoid expensive fines and losing trust from customers.
As digital transformation transforms the business processes of businesses, they produce and manage an ever-increasing volume of data. This data needs to be controlled across complex computing environments. These environments are regularly spanning cloud as well as enterprise data centers and many connected devices, including Internet of Things sensors and robots. This increased complexity creates an increased attack surface, making crucial information more susceptible to being hacked and lost.
In addition to the financial consequences of data breaches, they could also harm a company’s reputation and lead to long-term sales losses. A recent study found that the average cost of a data breach is $4 million – a cost that is difficult for any business to absorb. In addition, regulations like the California Consumer Privacy Act and the General Data Protection Regulation impose severe penalties on companies that don’t adhere to strict security standards.
In today’s booming economy security is a must. is vital to growth. It’s more cost-effective to invest in preventative measures instead of paying for the cleanup and recovery following a breach. By implementing the proper tools and technologies, enterprises can ensure that their data is safe during transit, at rest and in the middle by implementing encryption, focusing on the human firewall and performing regular deep checks.