In the technological age, cyber security has never been more important. If you pay any attention to the news, you’ve probably seen big companies hit by cyber-attacks. Unfortunately, for smaller businesses, this isn’t just a problem for larger scale companies. In fact, the majority of businesses that end up affected by cyber attacks are small to mid-sized business. Here are three reasons why cyber security is crucial to preserving your business.
The Cost of a Breach
Cyber crime costs businesses a lot of money. The average cost of cyber crime globally is about 11.7 million dollars per organization. Not only can cyber criminals steal directly from your business but they can take personal data and open you up for a wide range of lawsuits.
High Number of Smart Devices
Smart devices are everywhere. While the internet and the interconnectedness of everyone can have its share of benefits, you do need to keep in mind that it also allows for more accessibility. If you don’t manage all of the devices connected to your network, you could allow criminals easy access. Training your employees can help keep you safe. If you’re not sure how well you’re doing on the cyber security front, you can even take a cyber security maturity assessment.
A Range of Hacking Tools Available
Hackers and cyber criminals have a wide variety of tools at their disposal. This makes them a high risk to any business that they would choose to target. As the technology advances, almost anyone can use it. This means that for some people, they don’t have to be skilled hackers. Almost anyone can learn how to take part in cybercrime. It’s easy to obtain ransomware to launch damaging attacks on a company.
Nowadays, you can’t go without cyber security. The risk is too high. When it comes to risk management, to ignore the threat of data breach or cyber attacks would be making your company vulnerable.