Experts estimate that cyberattacks could cost the world $10.5 trillion annually by 2025. Businesses are particularly at risk as they are lucrative targets for hackers looking to make money.
A data breach on your company can be catastrophic. About 60 percent of small businesses fold within six months of being breached. Yet, the vast majority of small businesses remain unprepared for cyber attacks.
One way to boost IT security in your organization is by creating cybersecurity awareness throughout the company. A staggering 88 percent of all data breach incidents are the result of employee mistakes.
In today’s post, we outline eight top reasons enhancing information security awareness is worth the investment.
Cybersecurity Awareness Helps Avert Breaches
The main reason people invest in cybersecurity for business is to prevent data breaches. The exact number of breaches you prevent through IT security awareness training is hardly possible to quantify. But like we pointed out before, even a single incidence of a data breach can prove catastrophic to a company.
You Get to Create a Security Culture
Making IT security part of your corporate culture can safeguard against cyber attacks. Unfortunately, such a culture is quite hard to achieve. A well-planned cybersecurity awareness training program can help achieve that culture much faster.
But exactly what does an IT security culture entail?
You’ll need to build cybersecurity values into the very fabric of your organization. The training must cover situational awareness. Besides, it should reveal the work and home-life benefits of IT security awareness.
With time, you’ll need to provide advanced training platforms that help track your cybersecurity culture. The ultimate goal is to make your employees your first line of defense.
Security Awareness Boosts the Efficiency of Your Technological Defenses
Technological defenses play a vital role in averting breaches. However, these defenses require appropriate input from people to work properly.
For a secure server, you have to turn on firewalls. You also need to acknowledge security warnings and update software to keep your network secure.
Security awareness training helps make sure that people do their part to keep your technological defenses up and working.
Awareness Boosts Customer Confidence
Most consumers rely on technology to get stuff done in their daily lives. They’re thus aware of the endless cyber threats in today’s world.
Naturally, consumers want to work with a company that guarantees that their sensitive data is safe and secure. By investing in cybersecurity awareness, you send the message that you’re serious about preventing breaches at all costs. This generates consumer trust and loyalty, which ultimately boosts your bottom line.
Awareness Training Helps You Comply With the Regulations
Failure to comply with HIPAA regulations can lead to serious consequences. Many other regulators also require that certain industries conduct security awareness training. Complying with these regulations is in your best interest.
There are also clients who’ll not entrust you with their business unless they have proof that you’ve done enough to guarantee cybersecurity. Having an ongoing IT security training program is a good sign that you take security seriously..
Cybersecurity Awareness Makes You Socially Responsible
Over the years, it has become clear just how rapidly cyber attacks can spread. Once a network is infected, other networks become vulnerable too. In other words, a weakness in one network automatically increases the threat to other networks around it.
By not investing in cybersecurity awareness, you’re exposing other organizations to risk. It’s almost the same as leaving your car unlocked, with the keys to the car parked next to yours waiting inside your car.
Security awareness thus benefits not only your company but also your clients. Your employers and any other party who is interlinked with your network also benefit.
You Get to Reduce Employee Stress
The possibility or occurrence of a data breach is a major stress trigger. This is especially for your employees who stand to lose jobs in case you don’t survive the attack. By taking a proactive approach to preventing cybercrime, you help ease this anxiety.
Once you equip your employees with the knowledge they need to spot and prevent cyber scams, you’ve boosted their confidence. They’ll be able to implement IT security best practices with ease. That includes using a team password manager to generate and safeguard passwords.
Cybersecurity Awareness Saves You Money
A well-executed cybersecurity awareness training will help you save money. Specifically, it’ll keep you from losing it as a result of an attack. The damages resulting from cyber-related incidents can have severe financial consequences.
Following a data breach, a company’s reputation suffers massively. Employees can also flee. That deals a serious blow to the revenue even after the company resumes normal operations.
On many occasions, affected companies face costly lawsuits and hefty fines. A data breach can also result in the loss of intellectual property. The financial implications are hardly quantifiable in such an event. When you invest in cybersecurity awareness, you’re saving the future of your organization.
IT Security Awareness Is Your Best Chance Against Cyber Attacks
As businesses continue to rely more heavily on technology, cybercrime continues to thrive. No one knows when or where cybercriminals will strike next, so it pays to stay ready. One of the best ways to do so is by investing in cybersecurity awareness.
Are you interested in boosting the security of your business accounts and applications? Please contact us today to learn about our solutions.