Why is Cyber Security Needed In Business?

Why is Cyber Security Needed In Business?

Cybersecurity is no longer just protection or just an IT problem.
That’s old news. 

Businesses today need robust cybersecurity capabilities as…
Cybersecurity is a precondition for sound business operations and maintaining business credibility.

Sound Business Operations

Businesses now operate in a digital economy.

Digital infrastructure underpins most business activities.

Data is important information that drives business value. It is created, stored, used and communicated everyday by the business. 

Disruption or damage to digital infrastructure, and mishandling data is an invitation to a catastrophic business event.

Maintain Business Credibility

Subpar cybersecurity is seen as business negligence and an act of irresponsibility towards all stakeholders of the business. 

Not addressing cybersecurity has real impacts on credibility, affecting business potential.


The Look of Sub-Par Cybersecurity:

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Customer data exposed.
Both B2C and B2B customers, now understand that some of the data held by businesses are legally owned by them. Mishandling this data is not in the best interest for the business.

Consequences: Regulatory fines, Bad publicity, Litigation battles



blank 
Competitive advantage exposed. 
Businesses need to be acutely aware, information to their competitive advantage is now held in an electronic form called data.

Consequences: Loss of trade secrets, Loss of 
intellectual property, Loss of market positioning

blank 
Business infrastructure exposed.
Digital infrastructure underpins most business activities today. It facilitates faster transactions, lower operational costs, better customer experience, quality business intelligence and more agility.

Consequences: Downtime and damage to business performance, Risk of bad customer experience, Loss of revenue


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Adverse impact on business performance.
Insufficient ability to mitigate cyber risks through proper cybersecurity measures will hamper business. There is increasing awareness in corporate leadership that the greatest cyber risks lie downstream in their supply chain and portfolio of vendors. Investors are aware that their investment could evaporate if a business does not properly mitigate their cyber risks.

Consequences: Lower business valuation, Loss of business opportunity, Loss of investment potential


 

Secure infrastructure and maintaining customer trust have always been the key ingredient behind the growth of successful companies and industries throughout history.

Developing an effective and resilient cybersecurity program is critical for all businesses with big aspirations.

In the long run, robust cybersecurity is a cost saving measure that ensures continued business growth and reputation. 

 

 

Robust cybersecurity is increasingly a requirement to:   

blank    raise capital    

blank    close corporate deals           

blank    conduct business in new markets           

blank    innovate for future business growth         

blank    maintain credibility to meet business objectives 

blank    meet stakeholder expectations

 


Who are the bad guys?

So who are the cyber attackers? Who are the cyber criminals?
There are about 3.5 billion people on the internet and the truth is not everyone on the internet has good intentions. Some of the bigger resourced cyber attackers are actually government paid groups from US, UK, Russia and China. The malicious threat can also be a disgruntled employee or a competitor looking to gain market share.

Cyber attackers can be:

blank  Criminal syndicates
blank  Nation states
blank  Hacktivist groups (politically driven)
blank  Disgruntled insiders/ partners
blank  Competitors
blank  Skilled individual hacker

What are cyber attackers after and what part of the business is at risk? 

Cyber attackers are usually either agenda driven and/or financially motivated.

blank Theft of intellectual property or strategic plans
blank Financial fraud
blank Business intelligence
blank Sales and marketing data
blank Reputation damage and business disruption
blank Destruction to critical infrastructure
blank Adversely sway outcomes against best business, health or safety interests

The good news is Vertex Security have deep expertise mitigating these cyber risks, so contact us today