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5 reasons cybersecurity is a crucial part of your business routine

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Since the digital transformation is in full swing, the analog ways of storing and analyzing data are quickly becoming a thing of the past. However, the risk of becoming the victim of cybercriminals is also growing. The more digital devices can be found on your premises, the more potential targets there are for hackers to exploit. The IoT technology, in particular, is now commonly deployed across various industries, and these devices aren’t known to be the most resilient to cyberattacks.  As such, you should take cybersecurity seriously because failing to do so may very well bring your business to its knees.

Luckily, there are cost-effective ways to do this. For example, by using a VPN, antivirus scanners, affordable training courses, etc. But before you can start thinking about the solutions, it’s important to understand the reasons first:

1. A single breach can lead to hefty fines

Once a breach hits the news headlines, you can wave goodbye to your company’s good reputation. Therefore, being compliant with recent regulations like GDPR is of the utmost importance. Under GDPR, for instance, the users have a right to know what data is being collected about them and how it’s stored. To give you a better idea of what’s expected of you, storing sensitive data like credit card numbers in plain-text format is a big no-no. Moreover, users must always be offered the option to revoke the permissions they’ve granted at any time, and the company must respect their wishes.

2. Trustworthiness means more sales

This is particularly important for e-commerce store owners. If the visitors aren’t convinced that your website is 100% safe and secure, do you think they’ll be willing to enter their credit card details? Since it costs you money to bring them to your website (either by investing in paid ads or SEO), you better make sure that you end up converting as many of them as possible into buyers. In other words, you can’t afford NOT to invest in making your website secure; otherwise, you’re wasting money by scaring away potential customers.

3. Protecting sensitive business secrets equals staying ahead of the competition

As the most successful entrepreneurs will tell you, business is all about overcoming obstacles. Not everyone is cut out to succeed, and in doing so, lots of experimentation is needed to find the secret path to success. But if you don’t take the necessary steps to protect it, it can get out in the wild for your competitors to see. Therefore, you should train your employees to treat their company login credentials with confidentiality and not leave their smart devices exposed. It is also crucial not to fall for common scams like phishing and always using a tool which will make sure you are secure while surfing the web. This is especially important if they’re connecting to your servers from an unsecured Wi-Fi hotspot. By using a VPN, you can avoid the unfortunate scenario of having sensitive company data intercepted by an unauthorized third party. If you are not sure which VPN provider is the best for you, take advantage of a free trial period offered by most reliable services. By all means, stay away from free VPN providers, as they are known for selling users’ data for advertising purposes. Which brings us to the next point:

4. Without ongoing education, it’s easy to get swayed by the lure of free cybersecurity products

Cybersecurity must become a habit, not a one-time deal. While certain security products are harmless (most antivirus scanners and firewalls), others can lure you into a deadly trap with the premise of saving money. A free VPN, for example, may seem like a great deal on the surface, but in reality, it’s far from it. In exchange for letting you use their software for free, the developers often engage in dubious practices. Such practices could include stealing and selling your bandwidth, installing malware, hijacking your browser, spying on your browsing habits, and more. Without constantly educating yourself and keeping your cybersecurity knowledge up to date, it’s easy to fall for this.

5. Hackers are getting more cunning with each passing year

Hardly a week goes by without breaking news of a new cybersecurity vulnerability being discovered. And hackers are fast to take advantage of this. Without regularly updating your devices, you’re a sitting duck for them. Many business owners fail to take keeping up to date seriously. Why? Because it’s convenient to keep on using outdated software and operating systems, but ask yourself this – is a convenience worth the price of security?

Conclusion

While learning the basics of cybersecurity will inevitably take some time and effort on your part, in the end, protecting your business is worth the sacrifice. As the old saying goes, trust takes years to build and seconds to break. Thus, suffering a security breach due to negligence and losing your customers’ faith in your brand is something you cannot afford.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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