Nowadays, cybersecurity is one of the most pressing concerns for any company. Hackers and system crashes can cause massive problems. One major information leak can put your entire company in jeopardy. You should set up a system to protect your business from going under.
The Financial Conduct Authority notes that inadequate cybersecurity measures are among the most common reasons behind a business’ loss of revenue and stunted growth. If you’re looking to avoid such problems, you need to ensure you have preventative measures in place to protect yourself against hackers and system crashes.
If you haven’t set up cybersecurity systems for your company, here are five reasons to do so as soon as possible:
1. You Lose Money
Information travels so fast today. Sites such as Yelp, Google Review, and Trustpilot make it so that any mistake a company makes doesn’t go unnoticed. If you slipped up and had some issues with cybersecurity, people will find out about it very quickly. Within a matter of days, the reputation that you worked so hard to build throughout the years can crumble. This is a very scary thought for any business owner. Nobody wants to see their life’s work fall apart on such a grand scale.
Having effective cybersecurity measures protects your clients’ information, which guarantees their safety and maintains your company’s integrity.
2. It Compromises Your Inventory Management & Accounting Work
Inventory management goes beyond just checking to see what your shop has in stock. It will tie into your accounting and help streamline other tasks as well. For example, it helps track how many of your items went in and out of your warehouse and how much net positive you made from those items in your stock. If your cybersecurity is breached, there may be some inaccuracies in your inventory. This will put a real dent in your accounting work, which may prompt the CRA to investigate your company, as they may think you are hiding your taxable income.
3. It Stunts The Growth Of Your Company
If your cybersecurity measures are under fire, you might have to redirect some resources. This may force your company to become stagnant. It’s in your best interest to set up a cybersecurity system to ensure that you don’t ever have to worry about it. This will give you the confidence that you will always have the opportunity to grow. For example, if you are worried about whether you should launch a new digital project or not because you are unsure if your database will be hacked, you won’t be able to grow. Have the right protections in place to ensure that issues like this will never be a concern.
4. It Stops You From Being Competitive
Nowadays, digital technology is a part of every company’s operations. It’s the mechanism that pushes a company forward. If there are some things that can compromise the performance of your digital campaign, it will prevent your company from being competitive in the open market. Set up effective cybersecurity measures so you can be sure that you will always have a way to advance your company.
5. Cybersecurity Breaches Are An Expensive Problem To Fix
Perhaps the most important reason why you should set up a cybersecurity measure is the potential cost to fix any problems. When you are hacked or your system crashes, it will cost you an arm and a leg to fix them. You need a team of skilled technicians and sophisticated tools to recover the lost data. In many cases, this can be a very complicated and time-consuming procedure. It’s better to be safe than sorry.
If you’re looking for a managed IT service, get in touch with us today to see how we can help.
Have questions about cybersecurity?
MicroAge is hosting a live Q&A session with a panel of experts to answer all of your cybersecurity questions on November 28 at 10 a.m. PST.
Register for the Q&A session here.
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