Five Reasons Why Data Security Should Be a Top Priority

by April 21, 2020

data security

Data is the new land. Digital is King. With more and more organizations and businesses conducting online sessions, interactions and digital exchanges of data and information, the demand for data security too rises. If the data falls in the wrong hands, the data breach can cause severe cataclysmic damage to both customers and the company. Every time data is shared between two end-users, there always exists attackers who intend to exploit the vulnerabilities.

Further, it is wrong to assume that small scale companies are not prone to such malicious attacks. Irrespective of the company size, the fallout always comes with a price. And these attacks need not be by professionals. Anyone can do it. Fortunately, these concerns can be addressed. Security must constantly evolve to effectively respond to new risks and methods of attack that are developed. Digital Transformation is coming to every industry. Hence it is better to take the risk. Look for options to alleviate that by having a good security strategy and gain the benefits of adopting this change. To have a better idea, have a look at the points discussed below.

 

Reputation goes in a long way

It takes years to build a reputation in the market and gain the trust of customers. All these can be quashed immediately in case of a data breach. Businesses that suffered data breaches in the past can end up having a negative image. Thus losing potential clients, hampers success in market and finance.

 

Extreme Expenses

While companies switch to data protection to reduce annual losses, a breach can prove fatal. While it is difficult to make up for the repair expenses, there can be indirect losses from the effects of a drop in investor confidence or customers fleeing to competitors. Due to the financial decline, income will take a hit too. Additional charges can come from lawsuits as well. Depending on the type of data that has been exposed, firms may need to reimburse customers or pay fines.

 

Waning Productivity

Cyber-security issues are not limited to the data breach. It may be done to hamper your productivity. Addressing the breach is one but resuming to normal pace takes time and colossal resources. This may result in irregularity in conducting business operations, application failures and system crash due to interference. Thus piling up on existing worries.

 

PUPs are on the rise

Potentially unwanted programs or PUPs are as the name suggests, unwanted applications and software that a user may perceive as unnecessary or may not have given consent to. These include spyware, adware, and dialers that intend to weaken the system privacy, sneak hackers into your system and leak data especially to the third party. Also, they take up massive amounts of bandwidth, slowing down all your systems. Companies tend to be careless while reviewing through everything before installation. As a result, it can cost them fortune later. Investing in a trusted source is must to lest these PUPs attempt to jeopardize customers’ safety and diminish all the hard work.

 

Backup Management

One can never accurately predict the possibility of a data breach or attack. The existing systems, software, and programs may offer some standard backup options. Yet they may not be adequate. So in unforeseen scenarios, it is a must to have resilient backup practices that will safeguard quick recovery from the aftermath of such instances. It will also prevent an extended interruption in service and a significant loss of consumer trust.

Hence to sum up companies must empower themselves with strong, safe data security protocols and practices before it is too late. A stitch in time saves nine!