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

In today’s technological world., cyber-attacks and data breaches can cause a lot of disruptions to a business’s operation. This can also cause a business to lose millions of dollars in business and revenue depending on the severity of the attack.    A lot of time these losses and run in the hundreds of millions and even billions if the result is in lost productivity and a loss of a significant customer base.  An example of this would be if the attack or beach resulted in a loss of customer records. These records can cost the business and result in a lot of stress for the customer if their record gets in the wrong hands.  These attacks can also cause in extreme circumstances for the business to close shop and dissolve.

With these items above said, it would be wise for a company to develop and invest in a sound cyber-security strategy.  This kind of strategy would provide a company to plan and prepare for any related cyber-attacks before they occur or happen.  A first line of defense would be for a company to find or strategize ways to protect data and sensitive information from an attack. This can be done by investing in top notch cybers security software (antivirus etc.) that can provide a good baseline defense against cyber-attacks.  An ever-better role is for the business to invest in some better education options for the employees they have.  Proper education is only a top-notch defense in training and preparing these employees for a cyber-attack.  Of course, companies should have also have honest and top notch IT (cyber security) employees that can implement all of this also. 

As mentioned, cyber-attacks and data breaches can impact a business significantly.  With that said, businesses have come a long way in today’s world to prepare for that possibility when and if it occurs. 

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