There’s no doubt that you’ve heard the term cybersecurity and why it’s so important to your business.
And with the frequency and severity of cyberattacks increasing, it’s potentially not a case of if, but when, your business will experience the pain of coming under threat.
In this article we have broken down the technical language to explain cybersecurity in layman terms.
The term refers to the measures and practices put in place to protect your computer systems, networks, infrastructure and data from unauthorised access, damage or theft.
Here are the key reasons why a carefully thought-out cybersecurity plan and practices make sense for your business.
Your businesses will deal with a lot of sensitive information, such as your customers’ data, financial records, and trade secrets in addition to your own records. A well-planned cybersecurity plan and measures will help safeguard your information from hackers and cybercriminals who might try to steal or exploit it for personal gain.
Your customers trust you to handle their personal information responsibly and securely so a data breach or cyberattack can severely damage your reputation and erode customer trust. Implementing strong cybersecurity measures shows to your customers that you take data protection seriously, which in itself helps to inspire confidence and trust.
The UK has specific laws and regulations, such as the General Data Protection Regulation (GDPR), that require businesses to protect personal data and privacy. Failing to comply with these regulations can result in hefty fines and legal consequences. By having robust cybersecurity measures in place, you can ensure compliance with these laws.
Cyberattacks can lead to significant financial losses for businesses. Hackers can steal money directly from accounts, commit fraud, or disrupt operations, causing downtime and loss of revenue. By investing in cybersecurity, businesses can reduce the risk of financial losses and avoid expensive recovery processes.
Many businesses in the UK invest a lot of time and resources in developing innovative products, services, or technologies. Cybersecurity helps protect their intellectual property from theft or unauthorised access, ensuring that their competitive advantage is maintained.
In the event of a cyberattack, you will experience disruptions to your operations, leading to downtime, loss of productivity, and potential reputational damage. By having strong cybersecurity measures in place, you can minimise the impact of such attacks and ensure business continuity.
Don’t leave this to chance and hope that you won’t be a target of an attack. Investing now will help you to stay resilient and secure in today's increasingly online world.