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The Cost Benefits of Having Cybersecurity

By November 15, 2019Blog, Business Value

Here are some cost benefits of cybersecurity

You are probably used to hearing about how scary the whole topic of cybersecurity is (we take some responsibility for that…), but adopting better security brings many benefits as well. The number one advantage, of course, is saving money on what could otherwise be a significant (and reoccurring) expense. However, network and information security have value beyond even the preventive measures, including granting your business a competitive advantage in a time of increased SMB hacking.

Here are the cost benefits to your business of having a cybersecurity solution in place:

Security Delivers a Competitive Market Advantage

In the many examples of phishing scams today, a common theme is the victim being frauded by someone posing to be a vendor or customer. This is no coincidence – hackers know that supply chains are both vulnerable and fast moving, with endpoints freely sharing data yet lacking security transparency and often any breach disclosure practices. Trading with anyone these days brings cyber risk, but it increases substantially when a partner is complacent about their cybersecurity.

No enterprise wants to suffer from someone else’s negligence, and many have already taken steps to enforce better risk prevention. This is likely to intensify as larger US businesses continue to be exploited through supplier or vendor access points. Those SMBs that implement a security solution sooner rather than later will get ahead of this trend and ensure they stand out as a valuable partner.


Cybersecurity is a Business Requirement

As the above illustrates, cybersecurity is long past being a luxury for small businesses. Having network security practices in place is as integral as any other IT requirement, and necessary to mitigate inevitable cyber risk. Additionally, the growth of data protection regulations means that your business is already obligated to protect personal information, and future legislation will only reinforce that responsibility.

It is important to note that the core concept of these laws mirrors what would be expected for storing physical copies of personal files. Just as keeping a locked filing cabinet protects you from what would happen if that information was stolen, a cybersecurity solution ensures that your data is being similarly defended.

Protect Your Business Costs with Security Best Practices

Cyber defense is not an added expense – it is the most cost-effective approach to avoid increasingly expensive data breaches and phishing scams and stay compliant with information security regulations. Implementing modern cybersecurity practices is the best way to get ahead of the inevitable costs of doing business in the digital era, as well the steep price of not being protected.

Download our free e-book, Cybersecurity Tips for Employees, to learn more about the best methods to protect your network.

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