You have more to lose than just your valuable data.
Depending on the timing and duration of a data breach, the impact to an organization can vary widely. The financial and healthcare sectors are particularly vulnerable and the long-term impact can be devastating. But there’s also the damage cause to your reputation and the trust of your stakeholders and your customers. Cybercrime hurts business and people.
With the loss of customer and stakeholder trust comes the loss of business. Most people do not want to do business with a company that has been hacked. Once your brand is devalued, it’s a long, hard road to build it back. Not to mention, it can also affect your ability to attract the best talent, suppliers and investors.
All too often business owners think there is no risk to them from cybercrime, but the fact is, enterprise size business is not the only kind of company to be at risk. Smaller businesses are appealing to hackers because they are usually easier to penetrate.
Cybercrime costs smaller businesses unreasonably more than enterprise businesses. If a small business has to spend an average of $40K to recover from one data breach, it could easily put them it out of business. The impact of direct financial loss is bad enough, then add to that penalties that apply for businesses that do not comply with data protection legislation.
The impact of operational disruption can also add to the cost of a data breach — especially among organization that have less business resilience and continuity strategies.
Don’t be mistaken in thinking that cybersecurity is an IT problem. Cybersecurity is a business must-have and the single most proactive measure you can take to protect your company’s security.
Loss of Brand Reputation
Cybercrime can disrupt a company’s brand standing, creating a loss of confidence felt by stakeholders and customers both. It can have long lasting effects on the reputation of your brand.
Whether it’s a breach in emails or customer payment information, untold damage can result if the data is in the hands of a hacker. Even potential leads can be impacted if they realize your business has poor data security.
Loss of Intellectual Property
Loss of revenue and a damaged reputation are horrific, but in many cases, cybercriminals also target design plans and blueprints. Manufacturing and construction industries are more prone to this threat. Smaller businesses tend to believe they won’t get hit. But 60% of hacks target small businesses because they are easier to violate.
Losing intellectual property can have a major impact on your ability to compete in your industry. And let’s face it, some rivals would not turn down the advantage of stolen information.
The most viable solution to your cybersecurity concerns is to partner with a respected industry front runner — VAZATA, providing you with world-class Cybernetic Cybersecurity.
VAZATA Cybernetic Cybersecurity Monitoring uses a combination of best-in-class technology, front-line analytics, and advanced artificial intelligence to monitor and protect organizations. The solution is a comprehensive platform that is easy for businesses to implement without sacrificing security. VAZATA Cybersecurity Monitoring is a cloud-native, streaming data analytics platform that includes a fully managed SIEM and a team of experts to decipher and remediate alerts, whether your systems are on-premises, in the cloud, or both.
Protecting your business from cybercrime is essential. Don’t be among those who wish they had acted sooner. Contact a VAZATA professional today and find a cybersecurity solution that fits your exact needs.