How cybersecurity assessments save your business money

How cybersecurity assessments save your business money

In most organizations, cybersecurity is perceived as a concern of the IT department alone. Unfortunately, small businesses rarely have a dedicated security team. Instead, businesses often set and forget simple defenses like antivirus and firewalls. Even some large enterprises are guilty of the same approach.

The problem with the set-and-forget line mentality is that it doesn’t consider the dynamic nature of the security landscape. As such, this poor security mindset leads to neglected and vulnerable systems, applications, and networks.

Small- and medium-sized businesses (SMBs) must invest in robust security solutions to defend against evolving threats and risks. But to know what solutions your company needs, you need comprehensive cybersecurity assessments.

Outdated security is no security

Having an outdated cybersecurity plan is like having no plan at all. New threats come and go, software and hardware reach the end of their life cycles, leaving vulnerabilities in their wake, and new scams do the rounds to exploit victims who aren’t adequately clued up. A lot of attacks exploit such situations because cybercriminals will always look for the easiest way to infiltrate systems.

Another factor to consider is government regulations. Policies are constantly changing as they set or update new standards for information security and privacy. Even though regulations like HIPAA, PCI DSS, and FISMA have been around for years, companies are required to take reasonable measures to ensure the security of their data. Some regulations explicitly require regular assessments, too.

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The main purpose of regular security assessments is that they help you keep ahead of new and emerging threats. They’re not just for big businesses, either. In fact, SMBs need them even more, not just because they’re popular targets, but also because they’re less likely to have security experts on call. Regular assessments might cost money, but they can save you a fortune in the long run.

The risk of forgoing security assessments

The cost of a data breach is climbing fast. According to a recent IBM report, the cost of a data breach in the United States is $242 per record, which is significantly higher than the global average. This means, if your company falls victim to a full-scale attack, the financial repercussions may be too high to recover from.

With proper security assessment in place, you can demonstrate your company’s efforts to meet the demands of compliance with regular and documented procedures for addressing areas that need improvement. Not only does this reduce your chances of suffering a data breach, but it also reduces your legal liability and the likelihood of paying costly fines.

Better security = better reputation = greater value

Information security and privacy are major concerns today. If you can’t protect your customers’ data, you run the risk of losing business opportunities and it won’t be long before your reputation starts to suffer. But keeping current with security by way of expert guidance, cutting-edge solutions, and regular assessments, will add value throughout your business.

In the end, companies need to change their perceptions of cybersecurity from a necessary evil to a driver of business value. The more secure your company, the more attractive it will be to do business with you. At the same time, better security reduces costly downtime and drives productivity. Those aren’t mere necessities, they’re drivers of business success.

Charles IT provides top-notch cybersecurity assessments and solutions to ensure your most important assets are safe and sound. Our seasoned experts will take a comprehensive look into your systems and identify vulnerabilities that must be addressed before hackers find them. Call us today to get started and save your business.

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