Technology has changed the way businesses operate, institutions function, and individuals carry out their activities. It has made our lives simpler and more convenient, be it while paying utility bills, buying train/bus/plane tickets, booking cabs, shopping from eCommerce stores, doing office work from remote locations, etc. If there has been a proliferation of devices, platforms, frameworks, and networks to choose from, businesses have a flurry of technologies to implement in order to provide the best customer experience.
These technologies include Blockchain, Big Data, Artificial Intelligence, Machine Learning, the Internet of Things, and Cloud Computing to name a few. On the other hand, if Information Technology has made the world a global village and facilitated the interchange of information through a range of device platforms, it has also brought with it the spectre of cybersecurity issues as well. Businesses can deal with these serious security issues by having an excellent cyber security service on their side.
Consequences of cybersecurity issues
Cybercriminals are on the prowl worldwide looking for vulnerable systems and entities to steal sensitive assets. The threat is even more ominous when two-thirds of organizations believe that they are vulnerable to security threats from viruses, trojans, malware, ransomware, etc. Should these vulnerabilities are not plugged in time and safety measures not implemented, the consequences can be dire, both for the companies and individuals.
- Sensitive information, be it of businesses, clients or customers can be stolen either by cyber criminals working independently or business rivals. The theft can drive the customers, clients, and other stakeholders to lose trust in the concerned business.
- Businesses can face costly lawsuits from customers and clients seeking compensation.
- Businesses can fall foul of the regulatory authorities for not plugging their vulnerabilities or not carrying out the security testing of their products or systems.
- Businesses can face stiff penalties from regulatory authorities or courts. These can hit at their bottom lines leading to the loss of competitive edge.
Cybersecurity poses an existential threat to businesses with scores of viruses, trojans, malware, and ransomware wreaking havoc and leading to dire consequences. The best possible way to deal with cybersecurity issues is to integrate the strategies, methods, protocols, tools, and techniques concerning cybersecurity testing across verticals and departments of businesses.