In cyber security, hardware, software, and data connected to the internet are protected against cyber threats. Individuals and businesses use cybersecurity to protect computerized systems and data centers against unauthorized access. A strong cybersecurity strategy can protect an organization’s or user’s system and sensitive data against malicious attacks. A cyber security system is also essential for preventing attacks that disrupt or disable an organization’s performance.
What is the importance of cybersecurity?
The importance of cybersecurity continues to grow in the modern enterprise as the number of users, devices, and programs increases, as well as the amount of sensitive or confidential data we receive. As cyber attackers and attack techniques grow in number and sophistication, the problem becomes more difficult to handle.
How does cybersecurity work, and what are its elements?
A cybersecurity program must be coordinated within an organization between the various sections within the cybersecurity field. Here are some of these sections:
- Security of applications
- The information or data security
- Network security
- Disaster recovery/business continuity planning
- The operational security
- Cloud security
- Critical infrastructure security
- Physical security
- End-user education
Every organization faces a challenge in maintaining cyber security in an ever-evolving threat landscape. It is no longer feasible to defend systems against lesser-known threats while relying solely on defending the biggest known threats. The defense industry needs to adopt a more proactive and adaptive approach to keep up with evolving security risks.
Several leading cybersecurity advisory organizations provide guidance. Defending against known and unknown threats requires continuous monitoring and real-time assessments, according to the National Institute of Standards and Technology (NIST).
How does cybersecurity benefit you?
- Threat protection from external sources.
Every year, businesses face millions of cyber threats, estimated to cost them over $1 trillion in 2020 alone. Although cyber-attacks are primarily associated with financial gain, the motives behind them can be as varied as the individuals who carry them out. They all share a common characteristic: they are becoming agile, sophisticated, and stealthy, whether cyber criminals, hacktivists, or industrial spies.
As a result, organizations will be able to detect and respond to the methods, devices, and entry points that are being exploited if they have an adequately managed cyber security posture based on regularly-updated software, such as:
- IoT devices
- Cloud and remote service attacks
- Fileless attacks
- Artificial Intelligence
- Supply chain attacks
- Social engineering
- Man-in-the-middle (MitM)
- Denial of service
- Domain name system attack
- SQL injection
- Advanced Persistent Threats (ATPs)
- Zero-day exploits
- Threat-resistance protection from within.
As far as cyber security is concerned, the human factor remains the weakest link. An insider threat can come from employees, third parties, or trusted partners, whether it’s an accident, negligence, or outright malicious behavior.
IoT devices in remote settings, such as remote work, personal devices used for business applications, and even personal devices for remote work, can help these types of threats to flee under the radar before they become very real.
It is possible to detect and respond to threats promptly as long as networks are proactively monitored, and managed access is managed. Furthermore, informing your people about cyber security can help turn your current security risk into an extension of your organization.
- Compliance with regulations.
Many regulatory bodies are building standards to help protect organizations and their customers in response to the increasing cyber and sensitive data threats. Investing in cyber security and seeing compliance as more than an obligation could benefit under-regulated industries. The leadership of an organization could use cyber security as a competitive advantage in regulation compliance and get ahead of the competition before underregulated industries become regulated.
- Increased productivity.
Viruses and other cyberattacks can halt networks and personal devices, and employees can find it virtually impossible to work. A website’s functionality depends on it. It is also necessary for businesses to operate. You can reduce the number of violations and downtime needed to remediate breaches by implementing various cyber security measures like improved firewalls and virus scanning. Training and educating employees regarding email phishing scams, warning links, and other nefarious criminal activities can help them identify them.
- Creating value and saving money.
Cyber-attacks cost small businesses in the U.S. on average $25,612, according to Hiscox Cyber Readiness Report 2021. SMBs can take large losses due to losing their data, resolving it, going down and restarting operations, and paying hefty fines because only 40% are profitable.
Due to the increasing complexity and sophistication of cyber-attacks, taking preventative measures is more valuable than dealing with one attack. As a result of mitigating risks, your business understands the importance of responding to risks, recovering from them, and retaining existing customers more efficiently than attracting new ones.
- The reputation and trust of a brand
Cyber security benefits businesses more than anything else, but the reputation you build is perhaps the most compelling. It’s worth keeping. For a business to grow, customer retention is one of the most important factors. Customer loyalty is key to repeat business, recommendations, and higher purchases, and maintaining a strong cyber security position is crucial.
As a result, producers can go into a successful future of partnerships and expansion, helping them land on the vendor list for larger organizations as part of their supply chain, proving that a supply chain is only as strong as its weakest link. According to NIST, we are at greater risk of compromise due to the factors that enable low-cost interoperability and rapid innovation. This is the case for several reasons. Larger companies are closely checking the cyber security practices of third-party vendors in the wake of so many high-profile breaches over the past two years alone.
Maintain a safe, secure, and successful environment
Considering expense alone may not indicate the full range of business benefits cyber security offers. The reality is that cyber security is no longer seen as just another line item that becomes part of the day-to-day operations of businesses. There is more to it than an IT problem. In addition to being a growth strategy, cyber security serves as a platform for innovation and differentiates companies from their competitors. Cyber attacks can’t be 100% prevented, but you can demonstrate to your customers, their data, and your reputation that you’re committed to protecting them. Assess your current cyber security stance, mitigate risks, and safeguard valuable data.
We can help you protect your business from cyber threats. Get in touch with Twingate today!