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How Strong Cybersecurity Helps with Business Growth

Cybersecurity

How Strong Cybersecurity Helps with Business Growth

It’s a fact: when digital is everywhere, the need for cybersecurity is also everywhere. And, as everyone’s lives become more digital, so has the acute awareness of the need for strong cybersecurity. This applies to IT professionals and private and public-sector executives alike. We’ve all seen the stats — an organization falls victim to a ransomware attack every 14 seconds1 — and we know all too well that even one successful attack could force a business to a standstill for weeks, or even shutter it entirely.

But if you, and everyone else in your organization, view cybersecurity as just another IT expense — as solely a means for combating imminent cybersecurity threats — then you’re missing out. Cybersecurity can also play a role in driving business growth2. Here are just a few reasons why organizations with a strong cybersecurity strategy have a strong competitive edge over those without, and how strong cybersecurity and business growth work hand-in-hand.

1. Your customers are becoming savvier about cybersecurity.

When cyberattacks and security breaches are constantly in the news, everyone becomes increasingly wary of digital services and products, whether they’re offered by a big corporation or a small business. In fact, a recent research report revealed that 86% of high-growth companies believe that strong cybersecurity enables new business opportunities.3 In the same report, 89% of businesses said that improving their cybersecurity would enhance customer loyalty and trust. So, security should always be a part of any growth strategy. 

2. Your business partners are demanding cybersecurity.

Potential business partners and investors are increasingly requiring evaluations of exposure for both first-party and third-party risk. They will want to make sure you have the proper security measures in place before they establish and expand their relationships with you.

3. Cybersecurity is essential for supporting bigger initiatives.

A strong cybersecurity strategy provides a solid foundation where you can confidently take advantage of new opportunities as they arise, and expanding into a more global business. 

Obviously, being able to leverage the benefits of strong cybersecurity, means that you have to do it correctly. This means your cybersecurity program has to incorporate:  

Vigilance and flexibility. Remember that cybersecurity isn’t a once-and-done thing. The threat landscape, your IT ecosystem, and your business needs are constantly evolving, and both your cybersecurity and business growth strategies need to stay firmly in step.

Best practices that support your needs. There are lots of resources to help you build improve security, including best-practices guides and industry frameworks. But you can’t just plug in a standard cybersecurity strategy, or even one that works for another organization, and expect it to work optimally. Understand your organization’s requirements and infrastructure and adapt accordingly.

Leadership involvement and buy-in. A sound program requires a working partnership between IT and top management — one where execs provide a clear understanding of current priorities and strategic goals that can guide and prioritize cybersecurity projects. Leadership also has to back the required cyber projects with the right level of resources to ensure the job gets done in a timely manner, and according to an organization’s growth strategy. To get executives on board, IT needs to be able to explain how cybersecurity can drive financial and operational benefits

A comprehensive approach. An effective cyber strategy covers many areas within an organization. Areas to be addressed include vulnerability assessment and prevention, analysis of data and process management, risk planning, user privilege management, and data protection.

Don’t wait to integrate cybersecurity into your plans for business growth. When you use Advanced Network Systems’ Managed Cybersecurity Program, you get all the foundational benefits described here, plus: 24x7 monitoring, a team of cybersecurity experts, the most current threat intelligence, and leading-edge technology. All of this comes one low, set monthly price, a fraction of what it would cost to add one qualified cybersecurity person to your staff. 

To see how Managed Cybersecurity from ANS can help your business grow, connect with our experts today.

References:
1 Cybersecurity Ventures
2 Netwrix
3 Vodafone Innovation Accelerator Report, 2017