Cybersecurity is a major concern for most organizations no matter in which business sector they are operating. Any digital or IoT device that is being used by a business venture can be compromised by cybercriminals. It makes those using digital systems pretty vulnerable in the face of these attacks. More and more organizations are actively investing in protecting their IT infrastructure because it is the most susceptible to attacks.
What is meant by IT infrastructure is that whatever is based on a digital model in the organization’s system needs to be protected for cyber-attacks. Losses need to be minimized because it can seriously affect a businesses’ revenue at the end of the day.
Here are all reasons why organizations need to grow serious about employing security to their IT infrastructure:
Loss in revenue, opportunity cost, and downtime: If an organization yields to malware or any kind of cyber threat, it would require to pay off the criminals as a way of meeting their demands. One cannot predict how big of an amount is demanded by attackers, but if there is no solution whatsoever, then a business has to choose this route. Loss in revenue further creates because the longer an organization’s systems remain compromised, as in the case of ransomware where data is held captive by criminals, it could further lead to losses because important business data is tied up. Moreover, the business has to suffer from opportunity costs when a threat occurs because its normal function is no longer there.
Legal battles: If your company is not employing an appropriate level of security then cyber authorities would track you down and drag you into court for trial. In some states, it is a law to employ some level of security. A PCI Compliance certificate is an important one which protects consumer data. E-commerce businesses which use customer data such as credit or debit card details need to be PCI compliant in order, to begin with, it. Cygna Labs is one of the leading companies providing insights into critical data and mitigating data-loss risks.
Reputation damage: Facebook is a company that its users no longer trust because they do not feel safe using it. The company led by Mark Zuckerberg has been the center of many scandals relating to its online security. Many reports in the past indicate that hackers have managed to comprise Facebook data centers, stealing the personal information of millions of users. It is not accounted for where the private details of users are going. So, the point is that reputation damage is a significant problem in this regard.