Why Cybersecurity is Required For Your Business

Why Cybersecurity is Required For Your Business

27 July 2020

Why Cybersecurity is Required For Your Business

By Devasis

The real benefits of cyber attacks

As technology is growing day by day and the business organizations are trying to adopt each and every new technology so that they can gain more profits. With the advancement in technology, the threat of cyber-attacks is growing day by day. Many organizations are facing this serious problem and they are even searching for a solution.

According to a recent survey cyber attacks cost UK businesses £34 billion a year according to recent research from CEBR, an IT 'think-tank' and Veracode, a computer security group. Their research shows that £18 billion comes from lost revenue as a result of a successful attack, while £16 billion represents the companies increased spending to bolster their IT defenses.

Whether your business is big or small, cybersecurity is one of the most important concerns for every business organization.

In this blog, we will read a few benefits of implementing cybersecurity services into your business.

Benefit 1:- Protecting Data

If cyber-attack results in personal data being stolen, such as usernames and passwords as well as payment details then the business will be forced to own up to data breach. That was the case when in March hackers targeted the 2015 BA's Executive Club scheme in an aggressive cyberattack that appeared to originate from Russia. Some Executive Club members noticed that their mobile phone number and other personal data had been changed. While others found that their loyalty points had been used to book flights and hotel rooms for trips they'd never personally made.

Protecting your own business data is very important and more importantly, if you are working for any client then protecting their data is very needful. By deploying strong, robust, and regularly updated cybersecurity services should always be kept as the business priority.

Securing the client’s data and making them protected from all types of security threats will help in keeping a good business relationship.

Benefit 2:- Protecting Your Business Reputation

In many cases due to the public nature of the website, a successful breach will be difficult to hide from potential customers and from business partners as well.

Sometimes hackers try to bring the website down and they are successful in doing so. And sometimes they force you to do so. Recovering from reputational damage caused by cyberattacks gets difficult. With the help of efficient cybersecurity services , one can protect their business reputation and credibility.

Benefit 3:- Protecting the Bank Balance

With the advancement in technology, hackers are also becoming more advanced and they can even play with your bank balance. Some of the financial hit will affect immediately and some might take time.

You may be in a fortunate position and have an IT team at your disposal. If like most small businesses you don't have such a luxury, you will be forced to outsource, which can be very costly. There will be the cost of investigating the breach, creating a workable solution to make sure it doesn't happen again, testing that it works, and then deploying it. Financially prudent business owners will take this as an opportunity to undertake a broader review of their entire website security. While this is what we'd recommend, it will push the short-term costs of the initial attack up.

There are many cases of doing the refund. If your firm deals with virtual money or real money in the form of loyalty points are stolen, then the firm has to repay the same to the affected clients.

Cybersecurity services help many small organizations as well as larger firms in keeping their bank balance safe.

Why Choose L4RG as your Cybersecurity partner?

Our focus is on both business and customer-centric. We work closely with our clients as their partners and understand their business objectives and requirements. Our team is entirely dedicated to developing strong working relationships with clients.

Here at L4RG, we’ve created a model that enables you to scale your cybersecurity to suit your applications and business needs. Our solutions grow with your business to keep your organization entirely safe in all environments. There’ll never need to be any concerns about your company growing beyond the bounds of your security solutions.