Every company big or small must be aware of what threats exist to their business and how to avoid them, including the threat of crime. If we own a store then we ensure that it is locked down, alarmed and has cameras, in order to ward of thieves. This is something which is generally accepted but something which is not focused on anywhere near enough is cybersecurity. My friend Bharat Bhise HNA has been working in this industry all of his career and the tales he tells me about those who have been attacked are starting. People like Bharat understand the importance of cybersecurity which is why he works with so many businesses on this topic, and if you have a business here is why you should listen to people like him.
A good reputation can take many years to earn, and it can all disappear in a heartbeat, especially if there is a dat breach in your company. Businesses store huge amounts of data on their computer systems including private customer and employee data which must not fall into the wrong hands. If a customer has trusted your business with their personal information they expect you to take care of it, failure to do so will destroy your reputation and make it very difficult for you to bounce back.
Most business owners scrutinize every cent which is spent for the business, and rightfully so, which is why a cyberattack is not something which you want to happen to you. Beyond the lost sales and tarnished reputation which you can count on, you will also incur huge costs as a result of the breach. Reparation of hardware and software, beefing up cybersecurity measures, not to mention lost time and sales, a cyberattack is a costly affair indeed. Small businesses need to understand this too, especially given that the costs of an attack could cause massive damage to the company.
Slowly but surely we are seeing much tighter regulations when it comes to a company’s requirements around cybersecurity. The EU have recently passed a bill which puts great pressure on businesses to ensure that they have a strong level of cybersecurity, in order to best protect the personal and private information of their staff and clients. This is just the beginning of tighter regulations around this threat, and in the future we will definitely see it become mandatory for businesses to offer a certain level of cybersecurity to their customers.
Hacking isn’t some fantasy idea of nerdy boys in their room trying to get into the NASA database, these threats are very real and they happen on a daily basis. Hackers are incredibly sophisticated and they will target just about any type of business. Sometimes they’ll attack to send a message, other times it may be to steal information, either way you need to understand that it does happen and it most certainly could happen to you and your business.