6 Benefits of Cyber ​​Security - Defense Against Cyber ​​Attacks (2023)

As a business leader, the need to search for the next competitive advantage has always come with the keys to the front office. Today, one of those advantages can come in a surprising form: cybersecurity.

On the surface, the issue of cybersecurity can only be seen as a defensive position. Or even a “wait and see” tactic, with organizations adopting updated technologies or external expertise after the fact, incident by incident.

This has been particularly true for small and medium-sized businesses, many of which find the cost of proactive cybersecurity too high. Or they may find their operation simply too small for cybercriminals to target. But as the world now knows, this is not the case:43% of cyberattacks target small businesses, but only 14% are prepared to defend themselves. And, in the end, this resulted in significant blows to his bottom line and his reputation.

So, as customers become more aware of the impact of cybersecurity threats on their own data, thebusiness benefits cyber securitythey are focusing. Seasoned leaders are making cybersecurity a priority not only to helpmitigate risks,but alsoincrease brand trust, ensure compliance, increase productivity- untilspark innovation. All of this can help separate a business from the rest.

The sudden shift to remote work has taken the world by storm. Now more connected devices from more locations have created a continuous expansionattack surfacefor cybercriminals to exploit. Therefore, the need to protect computers, mobile devices, servers and the cloud is greater than ever, from all endpoints to wherever sensitive data travels.

A complete strategy for businesses of any size includes multiple levels of protection using a variety of products from different sources. in a recentCyber ​​Security FAQ Postwe cover the differenttypes of cybersecuritycompanies implement to mitigate cyber threats, includingnetwork security.

Network security, broadly speaking, refers to the layers of technologies, devices, and processes designed to protect your network and vital data from breaches, intrusions, and other threats.

A networkfirewallthat it can control traffic based on security settings and permissions is usually at the top of every list. But because an attack can occur at any layer, a robust approach must address additional key elements in the network, including:

• Hardware:Secure employee devices to ensure they are safe to use and pose minimal risk in the event of theft or compromise. Restrict access to routers and cabling. And keep all hardware up to date. Outdated hardware may not be compatible with the latest software security updates and may also inhibit your computer's response to cyberattacks.
• Software:Install antivirus and antispyware software to protect against many types of malware that can compromise your network. Update all software and applications as soon as the latest version is available to add new features, fix known bugs, and update security.
• Security processes:Minimize the exposure of your network to unauthorized access by adopting company-wide policies and procedures. Include the use of a virtual private network (VPN) and secure file sharing with encrypted files in transit and at rest. Create reports and mitigation processes in the event of a data breach, and be sure to consider your data backup plan as well.
• Access:Take a zero-trust approach, assuming malicious actors are actively trying to break into your system. Authenticate every access request and enable multi-factor authentication in addition to username and password to verify who is accessing accounts.
• Training:Implement cybersecurity training so internal teams understand their role in device security, network responsibilities, and how to detect signs of malicious activity.

Millions of cyber threats are created each year and at great cost to businesses, exceeding$1 trillion by 2020solo.

Although launched primarily for financial gain, the motives behind cyberattacks can be as varied as the perpetrators themselves. Whether they are cybercriminals, hacktivists, or industrial spies, the common thread these criminals share is how agile, sophisticated, and stealthy their attacks are becoming.

However,a strong cybersecurity postureAccounting for regularly updated software can help organizations detect and respond to exploited methods, devices, and entry points, including:

• • IoT devices
  • Attacks on remote and cloud services
  • fileless attacks
  • Artificial intelligence
  • Supply chain attacks
  • Social engineering
  • Malware
  • Man-in-the-middle (MitM)
  • denial of service
  • Domain name system attack
  • sql injection
  • Advanced Persistent Threats (ATPs)
  • zero day feats

For a deeper dive into the sources and types of emerging threats facing businesses, check out our recent post onMain cybersecurity threats today.

The weakest link in the cybersecurity chain is still the human factor. Anyaccidental, negligente,the directmalicious,Insider threats can come from current or former employees, external vendors, or even trusted partners.

Additionally, the exponential growth of remote work, personal devices used for business applications, and even IoT devices in remote environments can help these kinds of threats go unnoticed until it's too late.

But with proactive network monitoring and managed access, threat detection and response can reduce costly incidents. Additionally, providing consistent, up-to-date training can help turn your people's current risk into the cybersecurity solution scope you need.

In response to the increase in cyber threats and sensitive data exposure facing businesses today, many regulatory bodies are establishing standards to help protect organizations and their customers. Some of these regulatory standards include GDPR, HIPAA, PCI DDS, and SOX, to name a few.

For industries that still remain lightly regulated, there is an opportunity for companies to invest in cybersecurity and see compliance as more than an obligation.

In fact, according to an expert in privacy and cybersecurity lawJamal Hartenstein, leaders could address cybersecurity in regulatory compliance as "a competitive advantage, getting ahead of industry competition before underregulated industries become regulated."

Viruses and other cyberattacks can slow down networks and personal devices, making it virtually impossible for employees to work. For the websites to work. And for the business to work.

By implementing a variety of cybersecurity measures, such as enhanced firewalls, virus scanning, and automated backups, you can dramatically reduce breaches and the downtime required to remediate the breach. Education and training can also help guide employees in identifying potential email phishing scams, suspicious links, and other nefarious criminal attempts.

In accordance withHiscox Cyber ​​Readiness Report 2021, the average cost of a single cyberattack for a small business in the US is $25,612. Considering the fact that only around40% of SMEs operate profitably— Data loss and the cost to recover it, downtime to restart operations, and hefty fines can be a heavy price to pay.

As cyber attacks become more sophisticated and complex by the day, it is important to weigh the cost of dealing with an attack against the value of taking preventative action. By reducing risk, you put your business in a better position to respond to, win back, and keep existing customers happy—a far more cost-effective option than attracting new customers.

Perhaps the biggest argument for the benefits of cybersecurity in business is the reputation it garners. and keep

One of the most important factors in business growth is customer retention. Maintaining brand loyalty through a strong cybersecurity posture is critical for today's customers and the shortest path to repeat business, referrals, and higher ticket purchases.

It also opens the door for potential future ventures and expansion by helping growers get on the sourcing list with larger organizations as part of their supply chain, who are only as strong as their weakest link. In accordance withNational Institute of Information Technology (NIST), the factors that enable low-cost interoperability and rapid innovation also increase the risk of compromise. With so many high-profile cyber breaches in the past two years, the largest companies are taking a closer look at the cybersecurity practices of third-party vendors.

The fact is, as cyber threats evolve, so do cybersecurity solutions. But knowing where you are today can help guide you to where you will go tomorrow.

common cyber security audit, you get a complete and independent analysis of your current cybersecurity posture. You can identify vulnerabilities, expose weaknesses and high-risk practices, mitigate the risk of attacks, and continue to build trust with your key stakeholders and customers.

Once issues are identified, strategic measures can be implemented to increase real-time visibility into your network and devices and improve your team's ability to react if a breach occurs.

When viewed through the lens of spending alone, the full suite of business benefits that cybersecurity can deliver may not be immediately apparent.

But the fact is that cybersecurity is no longer considered a line more than simply part of the business. It goes beyond being an IT problem. An effective cybersecurity strategy is a growth strategy, a superior launching pad for innovation, and a point of differentiation from the competition.

While there's no way to be 100% safe from cyberattacks, a proactive approach to improving your strategy shows a commitment to your customers, your data, and your reputation.

Reduce risk, protect valuable data, and assess your current cybersecurity posture. Connect with Dean Dorton for acyber security assessmenthoy.

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