Technology has indeed enabled companies of all sizes and nature to rethink and innovate the way they do business. Through the power of the internet, digital platforms, and mobile technology, businesses are now able to improve their communication with their clients, enhance their employee productivity, and reduce the operational costs related to processing and storing important business data.
However, as advantageous as they are, one cannot also deny the fact that these technologies have also exposed businesses to a handful of cyber threats. According to the 2017 State of Cybersecurity in Small and, Medium-Sized Businesses from Ponemon Institute, a whopping 61 per cent of businesses experienced a cyber attack in 2017 – a significant 6 per cent increase from 2015’s 55 per cent. Data breaches, one of the most devastating cyber threats, have also increased from 50 per cent in 2016 to 54 per cent last year.
As more and more companies utilize the internet and digital platforms, the need for a robust and well-detail cybersecurity strategy also increases. In this day and age where small and medium-sized companies are exposed to the same level of threats that larger companies face, it is clear that having critical data security systems is no longer just an option but rather a necessity for all businesses that want to operate and stay competitive in the long run.
Data breaches can wreak financial havoc on any business. To learn how a single data breach incident can damage your company, check out this infographic from TeleMessage which details the top data security breaches in history.