Why Do You Need Cyber Security?
Cyber Security is a completely different beast to what it was 10 years ago. Cyber attacks can be crippling to organisations of any size. Take the example of British Airways, Talk Talk and NHS WannaCry. In most cases the damage to the network can be repaired, but the impact it has had on a business takes a long time to fix. In this blog we are going to have a look at the impact a cyber attack could have on your business.
Reputational Damage
Every breach has to be reported to the ICO and if the breach becomes public knowledge it can have a drastic impact on your reputation. Protecting your data isn’t enough, you have to protect the data of your customers. If you lose that trust it can take years to regain it back. Talk Talk is a prime example of this, when their high profile breech happened it took 4 years before people actually trusted them again. There are still people out there that don’t trust them.
Financial Damage
The cost to repair damage that is caused by a breach is a vast amount more than regular testing. Companies that don’t look to invest in their cyber security, and then have a breach, are looking at costs over £10,000 just to fix what has happened. Companies that invest in cyber security are in a much better place to handle a breach, they can reduce the risk and impact to their business and manage the threats.
Business Impact
So now, after an attack, reputation has been lost and financial damage has been caused to the business you must look at the further business impact. Often, after a cyber attack, business often have lay-offs, so they will lose staff members. The sales team are working with one hand tied behind their back because they are constantly explaining the breach to potential customers and due to the layoffs your lead time on services is increased. Something that took days to deliver can take weeks. What you have to ask yourself is: “Can I afford a breach?”
What can you do to protect your business? Get in touch with our team today and we will help your business be in a much better position to react to a potential breach. Avoid Financial, Reputation & Business impact.
