The Role of Cyber Security in Business Opportunities

9 November 2022

The Role of Cyber Security in Business Opportunities

Many IT experts and company leaders are aware of the importance of cyber security, are you one of them? If not, now is the right time for you to understand the importance of cyber security in business opportunities.

It should be noted that statistically from Cloudwards, there are many cases of companies that collapse due to ransomware attacks in just 14 seconds. Then be aware that in one cyber attack can cause your business to stagnate, even worse is bankruptcy.

The importance of cyber security is not a burden that you have to spend on an additional budget from the IT infrastructure. Quite the contrary, cyber security has a vital role in business growth.

Here are three reasons your company needs to pay attention to the importance of strong cyber security:

1. Clients Have Started to Pay Attention to the Security of Their Data

In research conducted by Vodafone, 89% of company stakeholders agree that improving cyber security will make their clients more loyal and trusting. This is further strengthened by the number of articles reporting on cyber attacks and security breaches, so your clients will sooner or later be more aware of the security of digital services and products. 

2. Your Business Partner Wants Cyber Security

Business partners and potential investors also do not want to suffer losses due to cyber attacks that may occur. Then it is very likely that your business partner or investor will ask your company to have cyber security.

3. Cyber Security Has Become Part Of The Company's Strategy

Strong cyber security is part of the foundation of your business strategy. For example, in data and application migration activities in the cloud as well as planning to expand the business wings more globally, cyber security is a supporting part.

In various types of use, both individually and in groups, cyber security has an important role to play. Let's understand together the role of cyber security based on the type of use:

  • For individual use, cyber security plays a role in securing your personal data from being accessed by anyone except you or other people who have access.
  • For small business use, cyber security plays a role in ensuring your credit card data is properly protected and client data security is protected.
  • For the use of online business owner companies, cyber security plays a role in protecting your server from unknown accesses from outside.
  • For the use of shared service providers, cyber security plays a role in protecting many data centers and hosting virtual servers that belong to different users or companies.
  • For use for government agencies, cyber security plays a role in building different data classifications according to their respective laws, policies, procedures, and technologies.

Risk of Lack of Understanding of the Role of Cyber Security

If you feel that your company can run without using Cyber Security, then you need to understand the risks when you do not use Cyber Security.

  • Financial risk, where you have the potential to experience financial losses due to hacking, that is, the loss of money from the account by a hacker. You also have the potential for indirect financial losses, i.e. loss of client trust in your company due to a weak security system.
  • Professional risk, where C-level Stakeholders can sanction for breach of company security through cyber attacks.
  • Business risk, where your company has the potential to suffer losses due to the loss of business partners due to weak cyber security.

By understanding the role of cyber security, you can anticipate cyber attack threats and can increase productivity and better control production costs. Contact us now to improve cyber security in your organization!

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