Smart Investments and Strong Data Security

You may think of stocks, real estate or the newest technology startups when you think of smart investments. There is another type of investment that has both immediate and long-term advantages: cybersecurity. This investment is crucial to protect businesses from expensive cyberattacks, and also helps companies avoid costly fines and losing customers’ trust.

As digital transformation transforms business operations, businesses are creating data, manipulating and storing an ever-growing amount data which must be effectively managed across complex computing environments. These environments typically span cloud and enterprise data centers as well as numerous connected devices including Internet of Things sensors and robots. This increased complexity creates a greater attack surface, making it harder to safeguard critical information from theft and compromise.

Apart from the financial burdens Data breaches can also damage the reputation of a company and result in long-term loss in sales. A recent study showed that the average cost of a data breach is around $4 million – an impact that is difficult for any organization to take on. Regulations like the California Consumer Privacy Act or the General Data Protection Regulation also apply severe penalties to companies who do not meet the highest security standards.

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In today’s world of competitiveness, a strong cybersecurity posture is crucial to gaining traction. A penny of prevention is worth a pound cure, and it’s far more economical to invest in preventative measures rather than spending money on cleanup and recovery following an incident. By implementing the right tools and technology, companies can ensure that their data is safe in transit, rest and in the middle. This includes installing encryption, focusing the human firewall, and executing regular deep-checks.

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