Why You Need Cybersecurity Technology Throughout Your Business to Protect Against Newly Developed Threats

Why You Need Cybersecurity Technology Throughout Your Business to Protect Against Newly Developed Threats

Business risks are at the forefront of executives’ concerns everywhere. There are many threats to thwart even during normal operations, but there’s one threat that too often goes overlooked. That threat is cybercrime.

Cyber-risk is an essential part of business risk, and it can cause serious damage even if all other aspects of the business are protected. Learn why you need cybersecurity technology to keep your business safe.

Cyberthreats Are Constantly Evolving

Technology is always advancing, but that rate of change seems to be getting faster and faster as time goes on. Unfortunately, that technology isn’t still used for good. Market demands are forcing more and more businesses to move their operations online, and cybercriminals see this as an opportunity. With the latest information technology at the disposal of these criminals, cyber threats have never been more serious than they are now.

Cybersecurity is likely something that every company utilizes to some degree, but most cybersecurity systems are outdated. Many of the systems currently in use across numerous businesses were developed before cyber-risk became a serious issue. If that’s all you have protecting your business, both you and your customers could be at risk if there’s an attack.

Cyber-Risk Is Difficult to Measure

Businesses respond to threats based on quantifiable data. Risks like fraud, compliance, credit, and more can all be quantified and tied to specific losses. Cyber-risk is a bit harder to track since there’s such a wide variety of attacks that can take place. Not only are there more unknowns, but there’s much less historical precedence as well. Businesses have been combating fraud seemingly since time immemorial, but cyber threats are much newer.

With cyber-risk being so challenging to measure, there is a lot of pressure on the chief information security officer, or CISO. Their influence on a risk appetite statement could make or break a company should a cyberattack occur. Unfortunately, some companies don’t even consult the CISO when developing a risk appetite statement. Should that be the case, it’s up to the CISO to establish their separate assessment that details the risk, aligns with business goals, and resonates with executives.

A Cyberattack Can Destroy a Business

The primary reason why cybersecurity is so critical is the degree to which a cyberattack can damage a business. Considering cyber-risk, business risk is the least a company can do. Without proper security, a cyber-risk can be a business killer. The effects of an attack spread through multiple areas of the business.

Downtime increases in response to a cyberattack. In most cases, whoever isn’t working to fix the problem is stuck without the technology necessary to do their jobs. Cyberattacks can also damage the image of a brand. Customers aren’t going to trust a company with their personal information if it gets stolen by a cyberthreat. This is also why all cybersecurity efforts need to be aligned throughout your business rather than leaving gaps between different aspects.

Optimize Your Cybersecurity

If you’re looking to keep your business safe from cyber-risks, you’ll need the latest technology and expertise at your disposal. That’s where Atlantic-IT can help. We’ve gathered the best and brightest in New Jersey to optimize all information technology efforts using the latest tech. That includes cybersecurity measures that protect against cyber-risks. Contact us today to learn more!