Today, there are many ways than ever to conduct business. From e-commerce to social media and even peer-to-peer (P2P) lending, the ability to conduct business online is essential for countless businesses today.
However, this convenience comes with a cost: cyber insecurity. You risk losing customers and damaging your brand’s reputation if your business cannot secure its online presence and protect against potential cybersecurity threats.
Worse yet, you could experience financial losses if a customer’s information is stolen and used against you without their knowledge. The good news is here. Securing your business has always been challenging.
Let’s peek at why it’s so important for businesses of all sizes to have a robust cybersecurity strategy like Zero Trust today.
Humans Are the Weakest Link in Cyber Security
The first and most important reason is the most obvious one. Humans are the weakest link in cyber security. You cannot rely on technology to protect you from hackers and other cybercriminals because there are endless ways that they can break through your defenses.
That’s why, business VPN is key.
The second reason is even more important. We often need to learn how to turn cybersecurity off or on. Businesses need a protocol for security. But it has to be easy enough for employees to follow to protect them throughout their workday.
So they can work without worrying about locking down their computers or taking away their freedom of choice.
Upcoming Technologies Will Require More Cybersecurity
As the world continues to become more technologically advanced, the need for cyber security is becoming increasingly necessary. With new technologies like artificial intelligence (AI) and blockchain, this technology will only grow in importance.
Some of these technologies will require higher levels of cyber security than others.
Moreover, machine learning algorithms are constantly evolving, so even a small business could be vulnerable to hackers. Blockchain technology is also highly vulnerable to cyber-attacks because it’s difficult to secure.
It also gets said that If you have an open-source blockchain platform, there’s no one who can guarantee your data.
In addition, virtual and augmented reality pose potential cybersecurity risks as they become more prevalent in our lives. Many people use these technologies online, meaning they need their personal information protected when logging into their virtual reality accounts or using augmented reality apps.
Hackers target Businesses
More often than not, cybercriminals target businesses to steal their customers’ personal information. In 2015, data breaches made up 38% of all cyberattacks. In addition, phishing attacks has become more and more frequent, making the need for phishing training extremely important.
This statistic gets only set to increase in 2016 as more and more people spend their time online shopping and conducting business in the digital realm.
Furthermore, a recent study stated that businesses are targeted by hackers daily. The study found that 81% of companies experience attempted breaches every year. Suppose you want to prevent your company from becoming a target for hackers.
In that case, you need to act by implementing an effective cybersecurity strategy like Zero Trust before any damage can get done.
So, a common misperception is that having a strong security plan will be too expensive for small businesses. Unfortunately, it couldn’t be further from the truth.
Many different security tools are available specifically for smaller companies and startups that offer affordable pricing plans for those who need them most.
Data is the New Black-Hole in Cyber Security
Data is the new black hole in business. In today’s day and age, we are creating more data than ever before. More specifically, we are creating more digital information than ever before. And with the prevalence of mobile devices comes an even greater number of digital information records.
The problem is that some businesses fail to secure their customer data with encryption. As a result, hackers can easily steal and use it against your business without you knowing what happened.
So, it’s important to know how important encryption is for your business because cybersecurity threats are moving quickly towards encryption-free methods of spying on companies.
Therefore, your company’s security should be on your mind when you encrypt customer data or conduct any cyber security strategy.
A Healthy Digital ecosystem and Collaboration are Required to Establish Trust.
With the rise of the e-commerce industry and social media, it’s become vital for businesses to increase their cybersecurity efforts. However, many consumers have also used these platforms to conduct their business.
It means that collaboration is a crucial part of establishing Trust.
Besides, if your business only focuses on security measures and doesn’t consider collaboration, you risk alienating customers and losing Trust in your brand.
To establish a healthy digital ecosystem and build Trust with your customers, it’s important to implement cybersecurity strategies that support online retailers and consumers.
One method to do this is by implementing a two-layer cybersecurity strategy:
- Prevention measures that stop hackers before they even get started,
- Detection strategies allow companies to identify security breaches and respond accordingly quickly.
With this strategy in place, your company will protect its reputation and maintain customer satisfaction.
Cybersecurity is a concern for every business owner. It’s necessary to take precautions to protect your business and customers from hackers. Not only do hackers steal your data, but they also can disrupt your business.
Therefore, finding the right balance between your organization’s digital security and its ability to function is crucial.