In simple words, cybersecurity is the practice of protecting and defending networks, computers, devices, and different electronic systems from malicious attacks, theft, damage, or disruption from a third party. It is also called information technology security, computer security, or electronic information security, and the professional who does this job is known as a cybersecurity specialist.
The job of a cybersecurity specialist is to ensure that the company’s data is safe from any kind of malicious activities from inside or outside of the company. They work with a large team, and their responsibility is to identify security risks, prevent them, and mitigate them in time. Moreover, these professionals also have to stay alert and take preventative measures against possible threats.
Many small or medium companies assume that only large established enterprises require the services of a cybersecurity specialist to protect their data and fight off hackers. However, the truth is that small business need cybersecurity now more than ever to mitigate their vulnerabilities. In fact, many studies have found that almost 70% of small businesses experience a cybersecurity threat. For this reason, we will discuss some reasons to hire a cybersecurity expert for your business.
1. All businesses involve assets and risks
There are two important factors that every business needs to consider. The first factor is that there is a risk in connectivity. No matter the size of the business, there is some level of connectivity between networks or businesses. The second factor is that the company’s important data is an asset. Therefore, the value of the data dictates the efforts a company puts in managing, protecting, and securing it. Hence, when a company recognizes the importance of their data and connections, they hire a cybersecurity expert with an MS cybersecurity degree to mitigate all the risks and vulnerabilities. Cybersecurity experts recognize that risks to data and connections are business risks. Hence, they use security software to protect the data and connections against hackers.
2. There is sensitive data
Your business doesn’t have to be a large multinational corporation to have sensitive data. Small e-commerce companies too have a lot of sensitive data like employee records, customer information, product information, intellectual property, etc. The responsibility of a cybersecurity expert is to protect this data from third parties with malicious intents and computer-generated attacks.
Small businesses are at greater risk because, as a small company with limited assets, it may get hard for a company to bounce back from the damage caused by a breach. If your company has very limited resources, it may get hard to recover, and the bad reviews and financial damage can cause the end of your business.
3. Payment security
If you have a business involving credit/debit card payments of any nature, your business is automatically vulnerable to payment processing fraud. Payment fraud is when a cyber-criminal makes any illegal or false transaction. The aim of this cybercrime is to deprive you of personal property and funds.
However, even when you follow the data security guidelines provided by the banking and finance industry to prevent credit card fraud, there are still some risks. For this reason, the safest route is to hire a cybersecurity expert to encrypt sensitive data and payment so that third parties can’t access the data at all.
4. Social media use
Just because you have a strict policy against phone and social media usage at the office doesn’t mean that your employees will follow it. In fact, depriving your employees of any entertainment can affect their work productivity levels. However, the assistance of a cybersecurity expert is necessary, as it can help ensure that no sensitive data is leaked on social media.
5. Predict online threats
As companies move from written documents and hard copies to automated processes, more challenges arise. However, you don’t have to give up an efficient automated system just for the sake of security. In most cases, manageable and effective cyber protection can help acquire insight into different cyber risks that can arise. These insights predict various cyber risks, such as threats to digital records or sensitive data, etc. With that foresight, businesses can use the assistance of cybersecurity professionals to set up measures to avoid these issues. Doing so will help them save sensitive data from third parties with malicious intent.
6. Cost-effective solution
The losses a company can face as a result of a breach are innumerable. Not to mention that a security breach doesn’t only cause financial damage but also damages the company’s reputation. Keeping these two factors in mind, the price of hiring a cybersecurity expert and their services is considerably low.
Typically, hackers and cyber-criminals intend to attack growing businesses because they realize the potential of such companies. They also understand that if they ask for ransom, the owner will do everything in their power to save their company. But even if a ransom is not involved, sensitive data and information are often sold to rivals. For this reason, setting up a cybersecurity department can cost much less as compared to the damages you will have to deal with if the situation comes to worst.
7. Helps in times of crisis
If you hire a cybersecurity professional for your company, they will know exactly what measures they need to take in case of a cybersecurity attack. For example, if there is a data violation, the expert will take quick actions to settle the matter so that no more losses occur. Moreover, having a cybersecurity expert on your team helps your company grow and prosper. It ensures that your business continues flourishing without threats and you continue to operate in a safe environment. This also ensures that you are also to maintain your company’s reputation in the market and among the consumers.
Cybersecurity protection has become as important for businesses today as other utilities and automated programs. They are crucial for operating the business. And as it is, the most vulnerable companies for cyberattacks are small-medium enterprises. This means that if you try to fulfill the security gap for the sake of protecting your company, your business will have a much better chance of growing and succeeding. In addition to that, having cybersecurity measures also ensures that there is security for your private and professional data, and there is nothing that cyber-criminals can use to tarnish your business’s growth.