Cyber security as a whole is a broad subject, and keeping your business secure can sometimes feel like money spent with no reward, but being unsecure as a business doesn’t just affect you – you could be putting your employees and customers in a vulnerable position.
Business security cannot be ignored, and there is only so long you can put off proper processes before you get caught short; resulting in large fines, disruption to business and loss of reputation.
What many businesses don’t take into account, however, is that cyber security protection is scalable, so no matter what your business size there are options readily available to suit your business needs, for a price that may be more suitable to your budget.
Do you know the full effects of poor cyber security management? And are you doing enough to keep your business secure?
Business cost
When it comes to budgets and costs, many businesses want to see returns on what they spend, whether your business currently has a budget dedicated to cyber security or not, it is likely that you will, at some point in your career, need to use these measures.
But it is not all about the upfront cost, Say your business does suffer a cyber-attack, other cost factors to think about include;
- The employee time you will lose for those who have to tell customers or partners of your breach
- The fine you may have to pay depending on the cause
- The security measures you now have to put in place to compensate for the processes you didn’t have before
- The contracts or customers you could lose due to poor data management
- Emergency IT costs
Business disruption
It may not just be cost that increases after an attack, but also disruption to daily business. Have you thought about the downtime your systems could face depending on the threat or the time you will lose having to tell customers and vendors of your breach?
In some cases, you may find that employees lose trust in the business and therefore lose staff members because of processes that weren’t in place. Not to mention the time spent to investigate and fix the cause of your breach.
There will undoubtedly be business disruption after a cyber-attack, but it is how you prepare for the fall-out which will help you succeed after a breach.
Business reputation
And finally, business reputation. This is the big one, and one that could cause irreversible damage. Whether long term or short term, it can be hard for a business to regain trust again after an attack. And according to CISO’s Benchmark Report 2020, a third of organisations said they experienced reputational damage as a result of a data breach.
Did you know that one of the biggest vulnerabilities within cybersecurity is human error? If your staff aren’t well trained you will have more security risks and so it is down to each business to take proper precautions and training measures.
How Nebula can help
As always we are here to help, we have developed a fully managed security solution designed to shift the responsibility from you to us. We can manage all of your business IT procedures for multiple machines and sites, including monthly vulnerability reports.
Or maybe training is important to your business growth, our Univertual platform is a free website that allows you to learn about IT, security and much more, at your own pace.
Simply want to talk about your IT? Get in touch today and we can arrange a friendly chat to discuss what is best for your business.
