When you think about smart investments, you could think of real estate, stocks or the newest technology startups. However, there’s another kind of investment that can provide both immediate and long-term rewards cybersecurity. This vital investment safeguards businesses from costly cyberattacks and can help them avoid costly fines and the loss of confidence from customers.

As digital transformation transforms the business operations of companies, they generate, manipulate and store an ever-growing amount of information. The data needs to be managed across a variety of complex computing environments. These environments include cloud, enterprise data centres and a range of connected devices, such as Internet of Things sensors and robotics. This increased complexity creates a greater risk of attack which makes it more difficult to protect critical data from loss or compromise.

In addition to the financial consequences of data breaches, they can also damage a company’s reputation and cause long-term sales losses. Recent research has revealed that the average cost of a data breach was $4 million. This is an enormous impact on any business. Regulations like the California Consumer Privacy Act or the General Data Protection Regulation also impose steep penalties on companies who fail to adhere to the highest security standards.

In today’s competitive market security is a must. is essential to grow. A pound of prevention is worth a pound of cure, and it’s more economical to invest in preventative measures instead of spending money on cleanup and recovery following a breach. With the right tools and technology, companies can ensure that their information is secure during transit, rest and even in the middle. This includes using encryption, focusing on the human firewall, and executing regular deep-checks.

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