You may think of stocks, real estate or the most recent tech startups when you think of smart investments. But there is a different kind of investment that provides both in the immediate and the long-term: cybersecurity. This investment is crucial to protect businesses from costly cyberattacks, and also helps companies avoid costly fines and losing the trust of their customers.
As digital transformation transforms business operations of companies, they generate and manage an ever-growing amount of data. This data must be controlled across complex computing environments. These environments typically span cloud data centers, enterprise data centers, and numerous connected devices including Internet of Things sensors and robots. This increased complexity creates an greater attack surface, which makes critical data more vulnerable to exploitation and loss.
In addition to the financial consequences of data breaches, they could also harm a company’s reputation and cause long-term losses in sales. A recent study revealed that the average cost of a data breach is $4 million – a cost that is difficult for any organization to take on. Additionally, regulations such as the California Consumer Privacy Act and the General Data Protection Regulation impose heavy penalties on businesses that don’t meet strict security standards.
In today’s world of competitiveness having a solid cybersecurity strategy is key to growth. A pound of prevention is worth a pound of cure, and it’s more efficient to invest in preventative measures rather than spending money on cleanup and recovery following a breach. By implementing the proper tools and technologies, companies can ensure that their data is secure in transit, at rest and in the middle with the help of encryption, making sure that the human firewall is in place and conducting regular deep-checks.
https://24tradeway.com/three-different-types-of-private-equity-investment-strategies/
