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Why cybersecurity is important to your business

Impact of Cybersecurity on businesses

 

In an age where everything about us is stored digitally, it is of the essence to familiarize ourselves with cybersecurity and why it is important. Whenever the word cybersecurity is mentioned, most people will assume that it is a technical requirement for anyone in the information technology line of work. Truth is, cybersecurity is important to anyone, your line of work does not matter. As long as you are dealing with computers that connect to networks, your information is vulnerable. Before we get to why cybersecurity is key it is important to first understand what cybersecurity is.

 

What is cybersecurity?

Cybersecurity involves processes, controls, and technologies designed to withstand cyber-attacks directed to networks in the aim of obtaining data. Unauthorized access to systems, networks or technologies is prevented by effective cybersecurity. There are three pillars of cybersecurity through which an organization is able to effectively secure their organization. These pillars are:

  1. People – Every organization needs to have employees who are well vast with securing their networks. It is after all the same people who would be used in any cyber-attack. Therefore, it is of the essence that all the employees keep up to date with the latest risks and the way to mitigate them.
  2. Processes – These are an important part of cybersecurity as they determine how an organization’s roles, activities, and documentation are used to minimize if not eliminate the risk of an attack. The risks in cybersecurity rapidly change therefore the need to continuously review the organization’s process in order to keep up with the changing risks.
  3. Technologies- These includes the hardware and software which an organization utilizes in order to stay ahead of cyber threats. Continuous assessment of these technologies is useful in reducing risks and preventing attacks. Depending on the assessment, an organization is able to identify what technologies to deploy in order to stay secure.

To put it in simple terms, cyber-attacks rely on human errors. Therefore, the need to stay up to date with the latest information concerning cyber-attacks, continuous review of your organization’s processes in order to pinpoint points of weakness that may be exploited. Finally, keeping all the equipment updated in order to prevent attacks emanating from faulty equipment whether hardware or software.

 

Why is cybersecurity important?

The essence of cybersecurity can only be understood from a risk management perspective of an organization. Every organization conducts a risk assessment which determine the magnitude of a specific risk. This also dictates what actions need to be taken to mitigate the risks. The same goes for cybersecurity risks, however, the cybersecurity assessment is more complex as some may be extremely hard to assess.

 

Cyber risks may range from minor information breach that may be mitigated to major security breaches that may cost an organization tonnes of money. Cybersecurity focuses on prevention in general. Unlike other risks where crisis management is an option, for cybersecurity, effects of an attack may be catastrophic therefore the need to focus on prevention as crisis management is a privilege an organization may not have with cyber attacks.

Other than financial consequences, an organization may face threats as huge as their mortality. A simple breach of security may cause a withdrawal of investors in a company and even loss of customers which may eventually lead to an organizations’ death. Successful cyber-attacks will shake the credibility of even the most resilient organization in the world, therefore the need for continuous risk assessment and the need to keep up with the latest technologies.

 

In this ever-changing digital world, the key to staying safe is the implementation of the cybersecurity infrastructure from the start. Laying down protocols necessary in securing a company’s network from the beginning goes a long way in preventing huge loses. It is from these well-laid security infrastructures that a company can be able to continuously assess and make the changes necessary. However, if this is not done from the beginning, it is hard to pinpoint the points of weaknesses which may be used to launch an attack on the organization.

 

 

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