When you think of intelligent investments, you may think of real estate, stocks or the latest technology startups. However, there’s another kind of investment that provides both immediate and long-term benefits: cybersecurity. This vital investment safeguards businesses from costly cyberattacks, and helps them avoid costly penalties and losing confidence from customers.
As digital transformation transforms business operations, businesses are creating and manipulating an ever-growing amount data which must be effectively managed across complex computing environments. These environments include cloud data centres, enterprise data centres, as well as a variety of connected devices such as Internet of Things sensors and robotics. This complexity adds greater attack surface, which makes critical data more vulnerable to being hacked and lost.
In addition to the financial consequences of data breaches, they can affect a company’s reputation and cause long-term losses in sales. A recent study revealed that the average cost of a data breach is $4 million – an impact that is difficult for any organization to absorb. Regulations such as the California Consumer Privacy Act or the General Data important factors you must consider when searching for the best virtual management platform Protection Regulation also punish companies with severe penalties who do not adhere to the highest security standards.
In today’s market that is highly competitive, a strong cybersecurity position is vital to achieving growth. A preventative pound is worth a pound of cure, and it’s far more efficient to invest in preventative measures instead of having to pay for cleanup and recovery following a breach. With the right tools and technologies, businesses can ensure that their data is secure while in transit, at rest and even in the middle. This means installing encryption, focusing the human firewall, and performing regular deep-checks.