Are you growing a business and thinking of going digital? Even the smallest of businesses, physical or online, need a digital presence. However, when you do take this step it can come at a cost and you need to protect yourself.
One way to do this is to hire a cyber security team. To make sure you know the benefits, we present 9 reasons you need to hire IT security.
1. It Protects Your Reputation
Even the biggest apps and websites are susceptible to data breaches. You only need to look at the list of big names that have lost data due to cyber attacks. They include eBay, Target, Under Armor, and Yahoo to name a few.
Data breaches damage the relationship of trust between you and your clients. They have trusted you with their sensitive information, which you have lost. Once lost, you have to take a lot of time to repair this bond.
The truth is that these large companies can take a slight hit to their reputation. They have enough of a customer base to lose a little trust and rebuild it over time. But can you afford to do that?
For smaller companies, this could be devasting for business. Add this loss of reputation to fines and possible lawsuits, and your profits are going to take a huge hit if you are not protecting networks.
2. IT Security Avoids Fines & Penalties
The days when personal data could be collected and kept as you like are gone. Particularly in North America and Europe, compliance with data regulations has become the law. If you violate these laws or choose to ignore them, you can end up with heavy fines and penalties.
Much of this compliance comes from having strong security in place. This is to protect the details of customers and visitors to your site. You may find that you also have specific legislation targeting your industry, which you must also adhere to.
In Europe, the General Data Protection Act (GDPR) is the action taken to protect people’s digital data. For failing to secure your site, you can be fined 20 million euros or 4% of your annual turnover.
The HIPAA is the Health Insurance Portability and Accountability Act. It is primarily in place to protect patient data from medical facilities. If you disclose data relating to a patient or even a business associate, fines can be as high as $1.5 million.
For anyone dealing in e-commerce, you need to be aware of the PCI-DSS. This is the Payment Card Industry Data Security Standard. if you disclose information relating to the payment data of a customer, you can be fined up to $100,000 per month.
3. To Implement Modern Authentication
It is no longer feasible to give someone a username and password to protect sensitive information. Basic authentication is no longer enough, and most companies are phasing it out in favor of two factor and multi authentication methods. If you have online banking, trading, or insurance accounts, you have probably already used them.
This type of authentication usually sends a unique code to your mobile phone when you log in. This has to be written into the system before logins or transactions can take place. It may also be combined with an extra security code that has been provided before.
This means that even if people have breached your data and try to fraudulently access your account, they will be unable to do so. They would need your cellphone to get the code, making it very difficult for them.
A company that uses modern authentication will look much more secure and trustworthy in the eyes of customers. If you are dealing with financial information, it is essential. An IT security firm would be able to install and regulate this for you.
4. To Build & Manage Firewalls
A firewall is an IT security device used for protecting networks. It monitors incoming and outgoing data packets. If it spots something it does not like, it will block the data from entering or leaving the network.
Firewalls protect you from a lot of online threats, like hackers and viruses. They come in lots of different types, catering to different solutions. For example, mobile devices will need slightly different firewalls to a business network.
Setting up a firewall and leaving it is not the answer to your prayers. Many hackers are able to create code that can actually bypass firewalls. This means a firewall needs to be part of a multi-layered network protection system, which IT security services can set up for you.
5. Safeguards Your Workforce
As well as protecting customers and their data, you also have a responsibility to your staff. Not only do they use your networks and programs, but they also have their sensitive data stored on your systems. A breach of customer data will most likely mean a loss of their information as well.
Your organization will also have an internet of things. This is a multitude of different items and applications that exist with digital and internet functionalities. It is becoming increasingly important to safeguard breaches on these items as well.
For example, imagine if a hacker could access your CCTV system or computer webcams. They would have insider footage of your business to use as they wish. Protecting these facets is just as important as protecting data.
6. Protects Productivity
If your work computers become infected with viruses, you will soon find them slowing to a crawl. This makes using them almost impossible to use. If they get to this state, then you have two options.
The first is to replace the computers. This is not cost-effective, and if viruses have found their way into your old computers they can probably do the same to your new ones.
The second choice is to hire a firm to remove the viruses for you. This is lengthy and time-consuming. Once this is done, you also need to set up the network protection so that you are sure it will not happen again.
Cybersecurity also prevents your website from going down, the most catastrophic of events. This can be even worse if you have an e-commerce business. With an inoperative website, you can not make sales and transactions, preventing profit.
7. Prevents Adware & Spyware
Two forms of cyber infections you want to avoid are adware and spyware. Both will cause serious problems. They will slow your network, computers, and leave you open to data theft.
Adware is extremely common. It works by filling your system with advertisements, usually for products you do not want to buy and dubious websites. If clicked, the advertisements can open a gateway to allow other viruses into your system.
Spyware is even more malicious. It will spy on the actions of a single computer or network. All this information is then sent back to a criminal.
These threats can be recurring in their nature. They may have their home in archived logs. Once you have a specialist network protection team in place, they can locate these recurring threats and eliminate them.
8. Provides Confidence
Browsers are giving more information about how secure a website is. When people come to you, if they don’t see the secure lock in the top corner, or a browser gives them a warning, they are going elsewhere. Having a secure website that is committed to protecting data gives your customers confidence.
If you are providing e-commerce services, this can not be ignored. For a successful online business, where people are handing over financial details, it means the difference between making a sale or not.
9. Allows You to Respond Quickly
Even with network protection in place, accidents may occur. Cyber attacks and threats adapt, and sometimes they may even be able to slip through your defenses. When this occurs, you need to be able to react quickly.
This involves finding solutions to purge the virus or attack. In addition, cyber security experts are able to monitor goings-on inside your network. Very often servers are attacked from inside a network, and having a team to monitor the activities and goings-on inside can prevent this from happening.
Having the ability to speed up detection and facilitating the investigation process means you are less likely to lose data or have your site go down.
If you have an online presence, you need IT security. Once a hacker notices that you are an easy target, they will infiltrate your system. Don’t risk it any longer, and hire someone to safeguard your business immediately.
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