Why Is Cybersecurity Important? What You Need to Know 

We are all more connected to technology than ever before. Businesses simply can’t succeed without using technology. However, this increased reliance comes with a growing threat: cybercrimes. A little over 40 percent of businesses, regardless of size, have been involved in cybercrime. If you’re asking, “Why is cybersecurity important,” here’s our advice for every business and individual.

Why Is Cybersecurity Important?

Cybersecurity is the practice of protecting your networks, computer systems and data from unauthorized use, access, disclosure modification or destruction. Your business needs to protect a wide range of sensitive information from intellectual property, employee personally identifiable information (PII), financial data and more. As we become more reliant on technology, cloud services and internet of things (IoT) devices security concerns only increase. 

Unfortunately, the cyber threat landscape is constantly changing. Hackers are continually becoming more sophisticated. Their social engineering tactics and AI-powered attacks can bypass traditional security methods like firewalls. 

The Consequences of Neglecting Cybersecurity 

So, why is cybersecurity important? It can protect your business from many consequences. Loss of customer trust, financial impact and legal issues are all things your organization can expect to face in the event of a cyberattack. 

Customers will not want to risk their data after learning about a business’s data breach. They will often find another company with similar products or services to patronize instead.

The financial impact of a cyberattack can be crippling, especially for smaller businesses. The financial impact can come from loss of customers, disruption of operations, legal fees and repairs to damaged systems.

Cyberattacks can bring legal troubles to your doorstep, too, from noncompliance fines to lawsuits from customers that could damage your business. 

Protecting Your Business

Luckily there are steps your business can take to mitigate cyber risks and increase protection. The easiest and quickest way to protect your business is by educating your employees. This is why cybersecurity is important: Human error is a large contributing factor to data breaches. Regular cybersecurity awareness training can help staff identify and respond to threats safely. 

Your business should also invest in other cybersecurity solutions and tools like monitoring software, data loss prevention tools and more. You can also choose to take cybersecurity off your hands by partnering with a cybersecurity company. Security experts will monitor activity and identify potential vulnerabilities before they can be exploited.

Be Proactive With Your Cybersecurity

Cybersecurity is no longer optional for any business, it is a necessary investment. Your business likely holds on to sensitive data that needs to be protected. Taking a proactive approach to security helps your business stave off cybercrimes and the consequences that come with them. Ready to boost your organization’s cybersecurity? Book a meeting with us today to keep your data safe.