Cybersecurity is not a choice but a necessity for businesses. However, cybersecurity is not merely for business security but a critical tool for business growth. Are you a business stakeholder? Then, keep reading this blog post to discover how to leverage effective cybersecurity measures for business growth.
According to Cybersecurity Ventures, by 2025, cybercrime costs globally are predicted to reach $10.5 trillion every year. This staggering cost emphasizes the importance of cybersecurity for businesses. However, the importance of cybersecurity for businesses goes beyond the cost of data breaches to issues such as trust, compliance, and innovation.
While the cost of cybercrime is an important implication, other considerations of cyber breaches such as reputation damage, and fines due to non-compliance are also critical. These issues can affect the growth and viability of your business. The cost implication of cyber attacks can also have devastating consequences on business growth. In the aftermath of cybercrime, the resources that could have otherwise been used to fuel growth would have been lost.
4 Best Strategies To Leverage Effective Cybersecurity Measures For Business Growth
Embroker states cybercrime costs are expected to rise to $24 trillion by 2027. As a Chief Technology Officer (CTO), this statistic would naturally help you see effective cybersecurity measures as necessary for security and to prevent financial loss. However, your mindset as a CTO must shift to employ effective cybersecurity measures as a competitive edge for growth and business expansion. Here are the four best strategies to leverage effective cybersecurity measures for business growth.
Incorporate Cybersecurity Measures Into Business Goals
Cybersecurity should never be a one-time investment. It should rather be an ongoing component of businesses to drive viability and growth. Effective cybersecurity measures such as data encryption and Privileged Access Management (PAM) must be prioritized for your business.
Cybersecurity practices must be at the forefront of your planning when establishing your business. Such planning begins with an in-depth analysis of potential cyber threats. This analysis will provide the information you need to navigate and will support you in including cybersecurity strategies in your business goals.
Leverage Regulatory Compliance For Business Growth
There are specific guidelines and regulatory requirements for businesses regarding data security. These guidelines are industry-specific, and non-compliance often results in consequences such as fines.
Requirements may be strict, time-consuming, and expensive, but they are established to protect your clients and your business. Rather than merely trying to tick the boxes, use these compliance guidelines to significantly improve your operational efficiency, which can have business growth implications.
Highlight Your Business Commitment To Cybersecurity To Build Trust
Your clients value data security as much as your business values cybersecurity. Individuals are increasingly conscious of cybersecurity when interacting with businesses. As a CTO, instead of considering this security awareness as a hurdle, you can use it to highlight the proactive steps your business is taking to ensure cybersecurity. You can emphasize your efforts to protect client information and maintain data privacy. Such client knowledge can help them build trust in your business, leading to customer retention and business growth.
Employ An Holistic View Of Company Metrics
It is crucial to measure your business’s performance using key metrics. You can include security insights into your routine business analytics and Key Performance Indicators (KPIs) when considering your cybersecurity readiness. As a CTO, you can track vital security issues such as phishing activities, data anomalies, and system intrusions against other performance metrics. Such comprehensive checks enhance early detection of security issues and assure you of your business’s security, being a vital part of the success of your organization.
How Support Link Technologies Can Help Your Business With Cybersecurity Solutions
At Support Link Technologies, we work with several businesses to provide cybersecurity services and solutions. We offer training services to business owners, stakeholders, and staff. These training services will keep you abreast of recent cyber threats and provide practical knowledge and tools to help mitigate these threats. We also offer cybersecurity solutions such as Privileged Access Management (PAM) from BeyondTrust, Secure Remote Access from NeverFail, and Password Management from ManageEngine.
Conclusion
Effective cybersecurity measures for businesses are not merely a routine but an essential tool for business growth. Business owners and stakeholders such as CTOs must employ cybersecurity for business growth and viability. This blog post describes how businesses can leverage effective cybersecurity measures for business growth and how Support Link Technologies can help your business with Cybersecurity solutions and training. Contact us today to learn more about our services and customized training programs.