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Why cyber-security is a board-level issue

22nd April 2022
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In the economy we operate in today – one precariously perched on a foundation of digital data – it is no wonder that cyber-security takes such high priority to those who truly understand its importance. As our reliance on the digital world has increased exponentially, so too has the rate and severity of data breaches. The upward transformation of technology shows no sign of tailing off – and neither does the threat posed by breaches to computer security. To keep up with the dynamic nature of data protection, then, we must ensure we are able recognise the value of high-quality cyber-security from the highest levels within the company.

So what, by definition, is cyber-security?

This one’s pretty self-explanatory: cyber-security encompasses the methods used by individuals and organisations to reduce the risk of external cyber-attacks, protect the devices we use daily and prevent any unauthorised breaches to the personal data that is stored on these devices.

Why is cyber-security so important?

Secure internet connections underlie the successful operation of almost all modern businesses; a failure to establish this risks serious financial loss as well as damage to your reputation, credibility and the trust upon which client relationships are founded. 

Without faith in a secure network, your business faces significant risk; from private & confidential customer data to original business intelligence, you open yourself up to the exposure of sensitive information like this. An inability to prevent a cyber-attack of this sort secures your business a one-way ticket to a PR disaster.

Similarly, an unsecured network and the subsequent data leaks offer a warm welcome to competitors looking to access your network, adopt the secrets to your success and gain a competitive advantage over you within the industry.

We have partnered with countless organisations just like yours to ensure they conduct their business over the most secure databases to eradicate any dangers posed to their network by external threats and guarantee that they don’t leave themselves vulnerable to PR disasters.

What could happen if I neglect cyber-security?

The answer to this question is one you should hope to find the answer to only vicariously, and never first-hand. Just ask Yahoo.

Almost 8 years after their first breach, Yahoo’s failure to prevent a cyber-attack remains one of the most sizable – and damaging – breaches of cyber-security in history. Yahoo first announced an attack on their security three years after the event and estimated that over one billion user accounts had been hacked and had their information shared. Months later, the real figure was admitted to have extended to over three billion – a figure that haunts their operations to date and surely stunted their business development massively.

The lesson here? 

Cyber-security is not something to be taken lightly. Implemented improperly, potential viruses are imminent. Adequate levels of security should not be a secondary idea to be tossed about as an afterthought, but a necessity to be addressed as early as possible, with as much care as possible, by those who hold the responsibility to initiate progress in the process of implementation.  

With almost full reliance on technology-based operations, the absence or inhibition of cyber-security could result in a complete halt in the functioning of a business, causing drastic knock-on effects throughout revenue, customer satisfaction and brand reputation – ones that could seriously affect your ability to continue to conduct business at the highest level.

Don’t wait to learn about cyber-security the hard way. We work with board-level company members to ensure that there are no public admissions or apologies needed, by getting it right the first time. 

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