One Article Review
| Source |  AlienVault Lab Blog |
|---|---|
| Identifiant | 6643523 |
| Date de publication | 2022-08-31 10:00:00 (vue: 2022-08-31 10:06:41) |
| Titre | How does robust cybersecurity add value to a business? |
| Texte | This blog was written by an independent guest blogger. A company’s IT infrastructure and data are some of its most valuable assets today. Consequently, protecting them is an increasingly critical goal to stave off worst-case scenarios and preserve a business’s value. By the same token, robust cybersecurity can make a company more valuable. Many organizations understand the importance of cybersecurity as a defense but may overlook its role as an asset. IT security will become a more important differentiator as cybercrime rises and digital systems play a more central role in business. Here’s a closer look at how stronger cybersecurity adds value to a company. Reduced expenses Maintaining robust cybersecurity requires additional spending, but it actually lowers expenses in the long run. The average data breach cost $4.35 million as of 2022, a figure that keeps rising over time. Stronger cybersecurity prevents these costly events, improving a company’s bottom line. Cyberattacks are too common to assume you’ll never encounter one, either. These attacks happen every 39 seconds, and more than half of all businesses have experienced some kind of security incident. A company will suffer an attack without reliable cybersecurity, and it will be costly. Consequently, stopping them is a critical part of lowering long-term expenses. Added resilience A more robust cybersecurity strategy will also make a business more resilient. Part of that stems from preventing attacks. Fewer successful hacks mean less disruption, leading to increased uptime and productivity. However, even if a breach does occur, companies will be more likely to survive it with strong cybersecurity. On average, companies employing security AI lose $3.05 million less in data breaches than those without it. Similarly, zero-trust architecture saves $1 million in a hack. These reduced costs ensure businesses recover faster, in some cases avoiding bankruptcy, making them more valuable. Lower risks The reduced chances of a breach and lowered costs translate into fewer risks for investors or potential partners. Many business valuation methods adjust rates based on risk or liability. As a result, the fewer financial threats a company poses to potential buyers or investors, the more valuable it is. Cyber-risks are some of the most important of these factors today, so more valuation methods will look at them to determine business value. That applies to formal valuations from investors, tax officials and other companies looking for potential partners. Given the rising likelihood of third-party breaches, more businesses today will judge whether a partner is worth it by their cyber-risks. Increased customer confidence Robust cybersecurity will also improve a business’s reputation among customers. Between 80%-90% of consumers say they wished there were more companies they could trust with their data, and 84% will switch over data concerns. If businesses don’t have strong security, it could drive customers away, dropping their market value, but better security could have the opposite effect. These trends apply to B2B markets, too. Businesses seeking to improve their own security to attract and retain customers will require stronger cybersecurity from their partners and vendors. Consequently, B2Bs that can promise increased security will be more valuable to potential clients. Cybersecurity is a crucial business value |
| Notes | |
| Envoyé | Oui |
| Condensat | 2022 across actually add added additional adds adjust advantage afford all also among applies apply architecture are asset assets assume attack attacks attract average avoiding away b2b b2bs bankruptcy based become becoming better between blog blogger bottom breach breaches business business’s businesses but buyers can can’t capitalize case cases central chances clients closer common companies company company’s competitive concerns confidence consequently consumers cost costly costs could critical crucial customer customers cyber cyberattacks cybercrime cybersecurity data defense determine differentiator digital disruption does don’t drive dropping effect either employing encounter enjoy ensure even events every expenses experienced factors faster favorable fewer figure financial formal from given goal guest hack hacks half happen have here’s higher how however importance important improve improving incident increased increasingly independent industries information infrastructure investors issues it’s its judge just keep keeps kind leading less liability likelihood likely line long look looking lose lower lowered lowering lowers maintaining make making many market markets may mean methods metric million more most must net never not occur off offering officials one opportunity opposite organizations other over overlook own part parties partner partners party people play poses potential potentially preserve preventing prevents productivity promise protecting prove range rates recover reduced reliability reliable reputation require requires resilience resilient result retain rises rising risk risks robust role run safe safety sales same saves say scenarios seconds security seeking similarly some spending stave stems stopping strategy strong stronger successful suffer survive switch systems tax term than them then these third those threats time today token too translate trends trust understand uptime valuable valuation valuations value vendors whether wider will wished without worst worth written you’ll zero |
| Tags | Data Breach Guideline |
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