The Importance Of Cybersecurity In 2018 For Businesses

Cybersecurity has been considered a vital business element over the last decade but as more operations move into the digital, it’s an area that businesses should be investing in.

2018 should be the year that you assess your current cybersecurity and identify the areas that you need to improve.

Firstly, why is cybersecurity more important than ever before?

Last year proved that no business or organisation is safe from the attention of cyber criminals.

Over the course of 2017, numerous high-profile businesses with a global presence and even public sector services, including the NHS, have found their operations have been hindered by a flaw in their cybersecurity systems.

There’s no doubt that cyber crime is on the rise.

In the UK alone, there are an estimated seven million attacks on SMEs each year, costing the economy a staggering £5.26 billion.

Around two thirds of small businesses have been affected by some form of cyber attack in the last two years.

It has an impact on cash flow but, more than that, it affects your reputation.

On top of the cybersecurity issues that have long been a problem, the incoming GDPR will have a further effect too.

Most B2C businesses today hold personal information on their customers and under the new EU regulations businesses will have a legal obligation to notify individuals when data breaches occur, potentially leading to reputational damage.

Firms that fail to secure the customer data they hold could even face hefty fines if mistakes are repeatedly made.

Forward thinking businesses are embracing more technological advances, from the internet of things to virtual assistants, and it’s creating more access points for would be criminals.

As a result, it’s necessary for businesses in a variety of industries to tighten up their approach to cybersecurity, ensuring they have the level of protection they need.

Making cybersecurity an essential part of business is now vital in the open economy, ensuring that firms continue to run effectively without compromising on their protection.

However, total cybersecurity is no small task for a business, whether large or small to achieve.

As fast as solutions are provided, cyber criminals are coming up with no ways to gain the access they want.

In addition, businesses are faced with trying to source the technology, acquire the talent, and embed the necessary processes to ensure strategies are a success.

Trevor McClintock

Trevor McClintock

Trevor McClintock is a world-leading business consultant and expert strategist with over 25 years' experience in developing and re-organising businesses. Contact him today and make your dreams a reality.

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