You might think of real estate, stocks or the most recent technology startups when you think of smart investments. There is a different type of investment that has both immediate and long-term benefits: cybersecurity. This investment is crucial to safeguard businesses from costly cyberattacks, and it helps them avoid costly fines and losing the trust of their customers.

As digital transformation transforms business operations, enterprises are creating and manipulating an ever-growing amount of data which must be effectively managed across complex computing environments. These environments include cloud as well as enterprise data centers and a range of connected devices like Internet of Things sensors and robotics. This increased complexity results in an greater attack surface, which makes critical data more vulnerable to exploitation and loss.

Apart from the financial burdens Data breaches can harm the reputation of a company and result in long-term losses in sales. Recent research found that the average cost for a data breach was $4 million. This is an enormous impact on any business. Regulations such as the California Consumer Privacy Act or the General Data Protection Regulation also apply severe penalties to companies who do not meet strict security standards.

In today’s highly competitive marketplace having a solid cybersecurity posture is essential to growth. A pound of prevention is worth a pound cure, and it’s more cost-effective to invest in preventative hop over to this website https://24tradeway.com/maximize-investment-success-with-the-ultimate-due-diligence-checklist/ measures than paying for cleanup and recovery following a breach. Implementing the right tools and technology, companies can ensure that their information is secure during transit, rest and in the middle. This includes creating encryption, focusing on the human firewall, and performing regular deep-checks.