Smart Investments and Strong Data Security

You may think of stocks, real estate or the newest tech startups when you think of smart investments. There is a different type of investment that has both immediate and long term benefits: cybersecurity. This investment is essential to safeguard businesses from costly cyberattacks. It also helps to avoid costly fines as well as losing customers’ trust.

As digital transformation transforms business operations, companies are creating data, manipulating and storing an ever-growing amount of data which must be effectively managed across complex computing environments. These environments include cloud data centres, enterprise data centres and a myriad of connected devices like Internet of Things sensors and robotics. This complexity increases the risk of an greater attack surface, which makes critical data more vulnerable to loss and compromise.

In addition to the financial burdens of data breaches, they can affect a company’s reputation and cause long-term losses in sales. A recent study revealed that the average cost of a how to use data room software to leverage your due diligence team data breach is around $4 million – a cost that is hard for any organization to take on. In addition, regulations such as the California Consumer Privacy Act and the General Data Protection Regulation impose severe penalties on companies that don’t meet strict security standards.

In today’s booming economy having a solid cybersecurity strategy is crucial to gaining traction. It is more cost-effective to invest into preventative measures, rather than paying for cleanup and recovery after an incident. By implementing the appropriate tools and technologies, enterprises can ensure that their data is safe in transit, in the middle and in the middle, by implementing encryption by focusing on the human firewall and conducting regular deep-checks.