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Smart Investments and Strong Data Security

You may think of stocks, real estate or the most up-to-date tech startups when you think of smart investments. However, there’s another kind of investment that can provide both in the immediate and the long-term: cybersecurity. This crucial investment protects businesses from costly cyberattacks, and can help them avoid costly fines and the loss of trust from their customers.

As digital transformation transforms business operations, enterprises are creating, manipulating and storing an ever-growing amount of data that must be managed effectively across complex computing environments. These environments are regularly spanning cloud, enterprise data centers and a host of connected devices such as Internet of Things sensors and robots. This increased complexity creates an increased attack surface, making crucial information more susceptible to exploitation and loss.

Aside from the financial costs Data breaches can also harm the image of a business and cause long-term losses in sales. A recent study showed that the average cost of an incident involving data breaches is $4 million – a cost that is difficult for any company to absorb. Regulations like the California Consumer Privacy Act or the General Data Protection Regulation also impose steep penalties on companies who do not adhere to the highest security standards.

In today’s highly competitive market, a strong cybersecurity posture is key to growth. A pound of prevention is worth a pound cure, and it’s more cost-effective to invest in preventative measures than paying for cleanup and recovery following a breach. Utilizing the appropriate tools and technologies, businesses can ensure that their data is secure during transit, rest, and in the middle. This means installing encryption, focusing the human firewall, and performing regular deep-checks.

long-term investment