Smart Investments and Strong Data Security

You may think of real estate, stocks or the most recent tech startups when you think of smart investments. However, there’s a different type of investment that offers both in the immediate and the long-term cybersecurity. This investment is essential to safeguard businesses from costly cyberattacks and helps companies avoid costly fines and losing the trust of their customers.

As digital transformation transforms the business processes of businesses, they produce and manage an ever-growing volume of data. This data must be managed across a variety of complex computing environments. These environments are routinely spanning cloud as well as enterprise data centers and numerous connected devices, including Internet of Things sensors and robots. This complexity adds greater attack surface, which makes important information more susceptible to exploitation and loss.

In addition to the financial burdens of data breaches, they could also affect a company’s image and result in long-term sales losses. A recent study showed performance chart that the average cost of an incident involving data breaches is $4 million – a cost that is hard for any organization to absorb. Regulations like the California Consumer Privacy Act or the General Data Protection Regulation also punish companies with severe penalties who do not adhere to the strict standards for security.

In today’s world of competitiveness having a solid cybersecurity strategy is crucial to gaining traction. A one pound of prevention is worth a pound cure, and it’s far more economical to invest in preventative measures instead of having to pay for cleanup and recovery after an incident. Utilizing the appropriate tools and technology, companies can ensure that their information is secure during transit, rest and in the middle. This includes creating encryption, focusing on the human firewall, and performing regular deep-checks.