Why Is Cybersecurity Important?

PublisherSol Minion Developmenthttps:https://assets.solminion.co/logo.svgPublished Small Business data securitystrategycybersecurity

One thing we hear from many small businesses is that cybersecurity really isn’t important for them. They see it as a big business issue. Yet, they have locks on their doors, their money in banks, and passwords on the WiFi network. Turns out, adding a few cybersecurity measures to a small business and its custom software can be nearly as simple and save the business from potentially devastating consequences. That is why cybersecurity is important. So, let’s dig a little deeper.

The Threats

Ransomware -- a form of malware -- gets all of the headlines today. It’s scary stuff to be sure. In fact, according to CISA.gov, there is a ransomware attack every 11 seconds! But there are other threats that might be just as concerning for you and your customers, including phishing, DDoS (Distributed Denial of Service), and more.

Consider the fact that most breaches go on for months before they’re detected. That means hackers are just sitting in your systems pulling what data and information they need to use in a later effort. Imagine if your business is just one step towards the breach of a larger business (like one of your major accounts or vendors). What would that mean to your business if you ended up being the backdoor to their systems? What if the hackers just pull all of your customers’ data and then just quietly retreat from your systems undetected?

You might also think your business is too small to be a target. Also from CISA: 43% of attacks target small businesses. That’s up over 400%!

Read more about Small Businesses and Cybersecurity.

The Potential Harm

The competitive advantage that small businesses have over their larger competitors is the relationships they build with their customers. To your customers, your business has a name and a face and isn’t just some 800-number and call queue. That is what can make a breach so much more painful. You really care about your customers, so to have to tell them there was a breach, that their personal information is floating around the dark web, that they have to reset all their passwords, that you lost all of their orders or payment information...is a painful thing to have to do.

The potential consequences from a security breach can include the following:

  • Financial: The objective of ransomware and similar attacks is to get your money. Hackers will sit inside your systems, download financial information, and determine exactly how much they can take from you. And then they do.
  • Reputation: This is one of the most overlooked consequences of a hack. How loyal will your customers continue to be once they learn that you didn’t protect them from harm? If you don’t have a cybersecurity plan in place, it might take you too long to discover and communicate the breach to them. They might think you were hiding it from them.

As you can imagine, both a financial and a reputation hit from an attack could be fatal. Most small businesses tend to act AFTER a breach, which can cost up to eight times the cost of prevention. Prevention can be simple and affordable.

Make Cybersecurity A Priority

Cybersecurity may seem like a new threat, but we have been building it into our software for 20 years. We use basic principles that protect software and your business from hackers. The priority we put into making your custom software safe is what separates us from your standard software development shop.

If you would like help determining your level of cybersecurity preparedness, please contact us today, or download one of our free resources.

Learn more about our Cybersecurity Consulting Services.

Prefer a guided approach?

Book an Initial Consultation