What are the costs and benefits of developing cybersecurity programs in business?

Although cybersecurity is extremely important in protecting a business’s assets and information, it does come at a cost. One of the main costs of installing a security program is the initial setup. First, businesses have to first analyze what form of attack they are most susceptible to and then find a security program that best fits their needs. After finding a program, they must hire a cybersecurity company to install their hardware into the business’s computers and networks. Second, the business must train its employees on how the new cybersecurity system operates and how to work efficiently under it. This may also be time-consuming since it will take a couple of weeks for the employees to adjust comfortably. Another cost of developing a cybersecurity program is upkeep, constantly updating the security software when newer versions come out. Having the most updated security gives businesses peace of mind that they are kept safe from possible cyber attacks. If businesses choose not to install a security program, they also face costs as well. Having no form of security makes businesses open to any kind of attack, which can result in financial loss and even a loss of trust between them and their customers. Losing one’s customer base leads to even more financial loss due to the lack of consumers and revenue flowing in. Although the installation and upkeep of security programs are costly, the data breaches and cyber attacks that result from not having one are far more costly. The benefits of installing a cybersecurity program do not just protect the business from hackers but the employees under it are also protected from having their personal information leaked or stolen as well. Having cybersecurity programs in business are definitely worth the cost and the investment as it gives peace of mind and secure protection.