Hackernoon logoWhy Cyber Security Should Be Your Company’s Top Priority In 2020 by@finn-pierson

Why Cyber Security Should Be Your Company’s Top Priority In 2020

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@finn-piersonFinn Pierson

As business is increasingly conducted through online interactions and digital exchanges of data and information, the importance of cyber security for companies grows by the minute. The influence of the advancement of technology has contributed to increased efficiency and productivity alongside a host of new dangers and vulnerabilities that can be taken advantage of by malicious users. In order to address these concerns, security needs to continually evolve to be able to effectively respond to new risks and methods of attack that are developed. To get a better idea of why you should make improving cyber security one of your top priorities moving forward, take a look at the points given below.

Everyone is Vulnerable

No matter how confident you are in your company's abilities, there are new forms of malware and hacking techniques that are continually being developed with every passing hour that may be able to penetrate your company's seemingly impenetrable defenses. History has demonstrated that even some of the largest companies are not immune, as many big players have found themselves targeted by malicious practices that have resulted in significant loss of confidential company and consumer data. One of the best ways to demonstrate awareness of this fact is to buff up your current defenses on a continual basis by improving standards such as your current AWS security measures. 

Reputation is Everything

In today's digital environment in which word of your company's successes can travel the globe in seconds, you must take measures to protect your company's reputation. Consumers can quickly become wary of businesses that have suffered data breaches in the past, resulting in a lack of trust in your brand that can negatively impact your future success and profits. By taking measures to protect your company from the latest cyber security threats, you will demonstrate your commitment to consumer confidentiality and security while also taking active steps to protect your brand's good reputation.

Losses Can Be Extreme

In addition to taking a hard hit to your brand's reputation, a data breach can be immensely expensive. Detecting and addressing such security concerns can result in significant losses; income is typically lower moving forward due to consumer trust being broken. Addressing the breach and cleaning up after the fact only knocks the costs up higher, resulting in the overall impact of a data breach sometimes resulting in a devastating hit to a company's current financial standing. 

Service Can Be Interrupted

There are plenty of cyber security issues that go beyond data breaches as well. Certain attacks may focus on putting your company out of service, a simple example being a denial-of-service (DoS) attack. These malicious acts may prevent you from conducting business operations as normal. Your inability to provide service during an attack can result in consumers viewing your company in a negative light. Additionally, the effort required to get all operations back online may be expensive, difficult and time consuming. 

Anyone Can Do It

Many individuals presume that hacking is only completed by professionals. In actuality, there are many malicious activities that can be done with a limited amount of knowledge and understanding of hacking techniques and cyber security. Casual users may download software that will guide them through different forms of malicious activity. There are also many guides that provide basic assistance when it comes to completing techniques that may be used to intercept or gain access to confidential information. It is important to realize that malicious digital activity can come from a wide variety of sources and to take measures to protect against them.

Backups Must Be Managed

While there are many standard backup procedures that plenty of programs and systems provide, the default options won't be enough to provide adequate protection for your company. To avoid an extended interruption in service and a significant loss of consumer trust, you must have strong backup practices in place to ensure you can quickly mitigate damage when your business is struck by a cyber attack. 

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