Cybersecurity should be at the top of every organization’s priority list. Viruses, hackers and other cyber threats can significantly damage your reputation and revenue streams. Creating a multilayered cybersecurity management system is a critical piece of the puzzle to fortify your data.
Risks of Insufficient Cybersecurity Management
Enabling multifactor authentication, training your employees and updating your antivirus software is crucial to your cybersecurity management plan. Without a robust strategy, you could experience the following consequences from threats like phishing, distributed denial-of-service (DDoS) and malware attacks:
- Data loss: Cybercriminals can retrieve sensitive data regarding your business’s operations, sensitive client data like credit card or login information. This data can be stolen or destroyed, which can be especially harmful if your organization doesn’t have a backup processes in place. In cases of a data breach, the financial damages alone can creep into the millions of dollars, not even including brand damage associated with the poor publicity.
- Productivity loss due to downtime: Companies may shut down core business infrastructure to investigate cyber incidents and resolve it to a suitable condition. This downtime can last months and interrupt routine tasks, leading to slower progress and missed deadlines.
- Ransomware extortion: Weak security systems allow hackers to easily enter your network, encrypt files and prevent access. They use these ransomware infections to demand payment as they threaten to delete, publish or block information until a ransom is paid.
- Government regulation and legal issues: Customers demand organizations to have competent security plans, often calling for compensation when their data is stolen. Aside from a potential settlement cost, you could be looking at various fees, including attorney and court expenses. This, in addition to upcoming regulation changes from the SEC with respect to board responsibility for cybersecurity, leaves many looking to cover all bases.
- Reputational damage: Poor cybersecurity management solutions will deter potential clients from working with you in the future. With less client trust in your ability to safeguard customer information, your stock price and revenue may decrease.
The Benefits of a Strong Cybersecurity Management System
Cybersecurity management will keep your business operating at its full potential. You’ll have more effective security controls in place as you strive to accomplish your business objectives. Some advantages of a resilient management system include:
- Maintaining customer trust: Protect your reputation with a cybersecurity risk management solution that prevents website hacks and network infiltration. Clients will feel comfortable working with your team knowing their information is secure, which will increase your popularity and revenue.
- Preserving your competitive advantage: A strong management system will give you an edge over those who have yet to invest in cybersecurity. It will also safeguard your ideas and intellectual property from being leaked or published by your competitors.
- Maximizing operational efficiency: Preventing unwanted attacks on your system keeps your staff and projects on schedule while avoiding costly delays. Your dedication to cybersecurity will also show your employees you care about keeping their information safe, driving them to repay you with a productive workflow.
How to Improve Your Cybersecurity
Board members and executives must understand the risks associated with weak cybersecurity management systems before taking steps to strengthen them. At TDI, we’ll help bridge the gap between data and progress to ensure you have the information you need to keep your data, network and operations secure.
We’ve designed our CnSight® software to provide unrivaled visibility across your cyber operations with hands-off reporting of critical metrics you can use to identify blind spots and streamline workflows. Ready to integrate within your systems and adhere to your budget restrictions, CnSight® has what it takes to positively impact your operations.
Learn More About How TDI Can Help!
Get started with TDI’s cutting-edge cybersecurity services by contacting us online or calling us at 202-335-0053 to speak with a team member today.