Cybersecurity - Key for a Successful Business

Even businesses with great products and hungry markets can fail. If you don’t take care of the
“boring” stuff, your company won’t last long enough to deliver on all the promises you made to your
customers.
Good technology management shouldn't be reserved for technology companies. Any business with a
computer in the building needs an IT plan that can scale with the company's needs.
Businesses that use customer data should be especially proactive in this area. Nothing can tank a
promising startup more quickly than an early data breach that kills customer trust.
Get the best of both worlds by investing in good security from day one. Set up systems and
databases that comply with new rules, such as GDPR. Don’t know what that means? Find someone
who does. The upfront costs may be steep, but the long-term protections are more than worth the
investment.
Data breaches are a growing threat, vitally important for companies of all sizes and trades.
According to Gemalto, 1,792 incidents were recorded throughout the world in 2016, which led to the
compromise of 1.4 billion data records, which is 86% higher than in 2015.
A study by IBM and the Ponemon Institute shows that in 2016 the average damage from a data leak
incident escalated to a record US$4 million. According to the opinion poll of info-security
professionals during SearchInform Road Show 2016, most often companies lose data about
customers (25%), technical information (18%), documents containing commercial and trade secrets
(18%), and personal data (15%).
Effectively, it is impossible to ensure 100% protection against data leakage. Moreover, it is unwise to
rely on the fact that employees understand and correctly evaluate all risks associated with data
leakage. Therefore, it is worthwhile to consider in advance what a company should do in the event of
a data breach incident.

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Ref: https://www.entrepreneur.com/article/293937

Don't Let Data Breach Cost Your Business

Posted Yesterday by Radhika Nadadur
Labels: Don't Let Data Breach Cost Your Business