How Can Cybersecurity Help Your Business Grow?

As cyberattacks increase every day, SMB owners need to understand the gaps in their business security and the resources available to help them prevent, identify, and respond to an attack. An organization falls victim to a ransomware attack every 14 seconds, and even one successful attack could force a business to a standstill for weeks, or to even close entirely.

If your organization views cybersecurity as just another IT expense for protecting against imminent external and internal cybersecurity threats – you ’re missing out.

The fact is investing in cybersecurity can play a critical role in driving business growth. Here are just three reasons that organizations with a robust cybersecurity strategy in place have a strong and competitive edge over those that don’t:

1.  Consumers are concerned about data security.

With cyberattacks and security breaches constantly in the news, consumers are increasingly wary of digital services and products, whether they are offered by a large enterprise or a small business. Indeed, one survey found that even back in 2014, 84% of customers would abandon a purchase if their data was going to be sent over an unsecure connection. In more recent research by Vodafone, 89% of executives said that improving their cybersecurity would enhance customer loyalty and trust.

2.  Partners demand strong cybersecurity.

Potential business partners and investors will also want to make sure you have proper security measures in place before they establish and expand their relationships with you. In addition to this, many risk-adverse organizations only want partner with companies that already have strong cybersecurity programs in place. Investing in a solid cybersecurity program can help expand your network of partners and advertising your security plan as part of your strategic assets to new partners and potential clients, will likely help you see a significant increase in growth opportunities.

3.  Cybersecurity is essential for other initiatives.

A strong cybersecurity strategy provides the foundation required to seize new opportunities for your business. Ensuring that your business’s critical data is safe from cyberattack by investing in a strong cybersecurity plan creates confidence within your business and provides a launchpad for new ideas, products, and expanding services.

ELIJAH’s Tips for Growth Through Cybersecurity

Here are some steps to success:

Stay Flexible — Remember that cybersecurity isn’t a one-and-done thing. The threat landscape, your IT ecosystem and your business needs are constantly evolving, and your cybersecurity strategy needs to keep up.
Adapt best practices to meet your unique needs — There are many resources to help you build improve security, including best-practices guides and well-defined frameworks. But you can’t simply plug in a standard cybersecurity strategy, or even one that works for another organization. You need to understand your organization’s requirements and infrastructure and adapt accordingly.
Involve your leadership — Building a sound program requires strong collaboration between IT and the C-suite. Executives can provide a clear and broad understanding of the organization’s current priorities and strategic goals to inform cybersecurity initiatives, along with the sponsorship required for proper funding and other resources to ensure they are completed in a timely manner. To get executives on board, IT teams need to show how cybersecurity can prevent costly data breaches and compliance fines, as well as drive other financial benefits.
Be comprehensive — A comprehensive cybersecurity strategy covers a lot of ground, including data management, user authorization, data sharing and protection, and vulnerability assessment and prevention.

Call Elijah Data Security– By staying ahead of the pack and putting the best cybersecurity strategy in place, you’re telling your clients that you’re a smart, safe, and savvy partner, one who fully understands the importance of money, reputation, and time – for both your own company, as well as theirs. Give us a call, we’re here to protect your business so you can focus on growing it.

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