Why Do Organisations Need Cybersecurity
Whether it is a small or big organization, it is a finance, business, educational, or health organization. The size and type of organization do not matter; what matters is the security from internal or external threats and damages. In a digitally transforming world, especially after the pandemic, the internet has become a vulnerable space for sensitive data and information. Making the most out of online opportunities without a robust cybersecurity system in place is not possible. According to a study by IBM, in 2021, the average cost of a data breach rose from USD 3.86 million to USD 4.24 million, the highest average total cost in the last 17-years. So organizations need to protect and recover computer systems, networks, devices, and programs from any cyber attack.
Here are some reasons why your organization needs cybersecurity:
Cyber attacks can cost you more than monetary loss.
Cybersecurity breaches are costly and damaging to any organization. This cost sometimes can be not only monetary loss but a reputation loss of your organization. According to a recent study, 43% of organizations had a data breach involving sensitive customer or business information in the past two years. If you are a business organization, then losing your reputation, which took a considerable investment to build, is far more critical than a capital loss. You can recover the capital loss, but it can be a hard nut to crack when it comes to regaining customers’ trust. So to protect sensitive data and reputation, organizations need to invest in cybersecurity systems.
Cybersecurity is a vital aspect of your organization’s growth.
Any organization would like to grow and expand. With the internet and technology, it has become easier to grow and expand organizations’ reach. This opportunity comes with the condition of having a robust cybersecurity system in place. In this digital world, data integrity, availability, and confidentiality are vital qualities that help any organization grow.
Provides safe work environment to employees
Without the cybersecurity system in your organization, you and your employees are constantly at risk from a potential cyber-attack. Cyber attacks can hamper the productivity of an organization. Technology alone is not enough to protect you from cyberattacks. So with placing a cybersecurity system, it is crucial to help your employees to become cyber aware. Technology after the beginning of the COVID-19 pandemic has become an increasingly integral aspect of the workplace. Remote Working has increased the potential risk of cyberattacks. In such crucial times, any organization can not afford a data breach. Suppose your organization falls victim to a cyberattack. In that case, it may have to face some potential repercussions including, Loss of business and revenue, Operational disruptions, Lawsuits, Intellectual property theft, and Reputational damage. So, here comes the cybersecurity system to save any organization from the potential risks and attackers.