The internet allows companies of all sizes to conduct business around the globe through the use of computer based tools. Malware, hackers, identity theft and fraud are just some of of the major cyber security issues facing businesses today. Any smart business owner knows that at the heart of an efficient, well-run business, is a comprehensive cyber security consulting plan, as well as IT security services.
Cyber security has been at the forefront of business owners minds in recent years. While the marketplace for so many products and services has become more and more digital, the risks have never been greater. As thieves and hackers become more crafty with their tactics, companies must constantly adapt to protect their customer base as well as their business reputation. Some of the most common cyber attacks against businesses include:
- Network and Server Attacks
- Identity Theft
- Denial of Service (DoS)
- Theft of intellectual property
Aside from these mentioned dangers, new threats are created each and every day.
Just how big of a problem is cyber crime? Theft of digital information has become the most commonly reported fraud in the United States. Over nine million Americans have their identities stolen each year! In last year alone, over $16 billion was stolen through the use of various digital hacking techniques according to the Federal Communications Commission.
Why is Cyber Security Necessary for a Business?
As damaging as cyber attacks can be to the individual, their results can be extremely brutal on a larger scale to businesses and their every day operations. Cyber security has never been a simple task, particularly for businesses, and thieves continually come up with creative ways to steal your information and money. The average cost of data breach globally in 2018 was $3.86 million!
Aside from the financial hardships cyber attacks bring on, they can also hurt businesses in other ways. A damaged reputation is something not easily remedied or repaired overnight – it takes some businesses years to rebuild their reputations! And if you think these attacks only take place with the little guy, think again. Sony, Microsoft, and Equifax all have been the subject of numerous large cyber security breaches in recent years.
Stolen intellectual property is another unfortunate result of lackluster cyber security. All it takes is one disgruntled former employee to send out company secrets on their way out the door, resulting in an untold amount of damages that could continue for years to come.
Despite all of these risks and threats, some companies still do not take cyber threats seriously. According to data security firm Varonis, 21 percent of all files are not protected by any sort of security. Combine that with 41 percent of companies having over 1,000 sensitive files, such as credit card numbers and health records, and you’ve got a hefty public relations mess on your hands. Don’t let this happen to you!
Cyber Security Companies and IT Support Services
Because of the increased risk and continued vulnerability that comes with doing business through the internet, most businesses have turned to trusted cyber security companies and other IT support services to sure up their defenses against the unknown.
Cyber security companies in the Toronto area are businesses who make it their business to see to it that your company is technologically safe and secure. These companies employ technicians and experts who’ve had years of experience in their respective fields, so you can be sure you’ll be guarded against any sort of unsuspected attack.
What exactly do cyber security companies do? Their expertise and knowledge of databases, servers, networks, software and hardware allows them to provide a great deal of services that are of the utmost importance to business owners. This includes:
- Keeping computer systems running smoothly
- Preventing theft of financial and/or personal information
- Blocking intruders and third-party software from accessing and divulging personal or company data
- Implementing security strategies, such as a firewall or malware protection
- Risk management of company intellectual property
- Incident preparation and testing of these systems
Aside from protecting yourself and your business against cyber threats, you’ll want to use a trusted cyber security firm or some other type of IT support services to keep up with your competition. According to a recent survey from PricewaterhouseCoopers, 58 percent of companies have some sort of overall cyber security strategy in place to protect themselves. In addition to this, 49 percent of those companies perform periodic security checks.
Don’t let your company become the one consumers remember for all the wrong reasons. A damaged reputation can be far worse than a down month in sales, and the ramifications could extend far beyond your current customer base. Cyber security is a threat that shouldn’t be taken lightly, and should be given the attention and dedication it deserves.