Smart Investments and Strong Data Security

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When you think about smart investments, you may imagine stocks, real estate or the newest technology startups. Another type of investment with both immediate and long term advantages cybersecurity. This investment is essential to protect businesses from costly cyberattacks and helps them avoid costly fines and losing the trust of customers.

As digital transformation transforms business operations of enterprises, they create and manage an ever-growing amount of information. This data needs to be managed across complex computing environments. These environments include cloud data centres, enterprise data centres and a variety of connected devices like Internet of Things sensors and robotics. This increased complexity results in a greater risk of attack which makes it difficult to protect critical data from theft and compromise.

In addition to the financial consequences of data breaches, they can also harm a company’s reputation and cause long-term sales losses. A recent study showed that the average cost of the data breach is $4 million – a cost that is hard for any organization to take on. Additionally, laws like the California Consumer Privacy Act and the General Data Protection Regulation impose heavy penalties on businesses that do not meet the strictest security standards.

In today’s competitive market an effective cybersecurity strategy is crucial to success. A preventative pound is worth a pound cure, and it’s more efficient to invest in preventative measures than having to pay for cleanup and recovery following a breach. Utilizing the appropriate tools and technologies, businesses can ensure that their data is secure during transit, rest, and in the middle. This means creating encryption, focusing on the human firewall, and conducting regular deep-checks.