Smart Investments and Strong Data Security
When you think about intelligent investments, you may think of real estate, stocks or the latest technology startups. However, there’s another kind of investment that can provide both immediate and long-term benefits cybersecurity. This investment is crucial to safeguard businesses from costly cyberattacks and helps to avoid costly fines as well as losing the the role of data security in wealth management trust of customers.
As digital transformation transforms the business processes of businesses, they produce and manage an ever-increasing volume of data. The data has to be managed across complex computing environments. These environments include cloud data centres, enterprise data centres and a variety of connected devices such as Internet of Things sensors and robotics. This increased complexity results in an greater attack surface, which makes critical information more vulnerable to being hacked and lost.
In addition to the financial costs of data breaches, they could also damage a company’s reputation and cause long-term sales losses. Recent research found that the cost for a data breach was $4 million. This is a massive impact for any company. In addition, regulations like the California Consumer Privacy Act and the General Data Protection Regulation impose severe penalties on companies that do not meet the strictest security standards.
In today’s highly competitive marketplace security is a must. is crucial to success. A pound of prevention is worth a pound cure, and it’s far more cost-effective to invest in preventative measures than the cost of cleaning up and recovering after an incident. With the right tools and technologies, businesses can ensure that their data is safe during transit, at rest and in the middle, by implementing encryption, focusing on the human firewall and conducting regular deep checks.
