Most people are already taking network security seriously, even when it comes to their personal devices. But businesses are the ones in dire need of assistance in today’s fast-paced digital environment. IT network security is a quintessential area of focus for modern companies. These days, hybrid workplaces are becoming more common, which means that businesses need networks to connect with their employees and ensure their operational processes go smoothly.
But any network, whether it has two connected devices or 200, can be vulnerable to attacks. IT network security refers to all measures taken to protect data exchanges and resource sharing, from software to hardware to human involvement.
The Repercussions of Neglecting IT Network Security
Nearly half of all cyber attacks target small- to medium-sized businesses (SMBs) every year. Why does this happen? Business owners’ false sense of security often leaves companies vulnerable to cyber-attacks. There’s a notion that SMBs don’t make attractive targets. Large corporations should make everyone’s hit list due to having substantially more funds or information to steal.
In reality, the opposite happens. Smaller businesses are preferred targets because of their lack of resources. If a company doesn’t have money to invest in IT network security, it probably won’t. That means it’s easier for hackers to breach security and access sensitive data.
But this only scratches the surface of what can happen if you don’t focus on your IT network security.
Brand Reputation
They say there’s no such thing as bad press. While that might be the case for celebrities, the notion doesn’t apply to the business world. Negligence regarding cybersecurity can tarnish your brand’s reputation beyond repair. If your company’s databases get breached, people will know. Industry media pays close attention to these things.
Why is this important?
If your clients hear that you can’t protect their information, they’ll be unlikely to keep working with you. And if you experience a history of breaches, you’ll likely be labeled untrustworthy.
Losing Money Fast
Many small- to medium-sized business owners believe that cyberattacks won’t cripple their companies financially. But even if someone was to fail at stealing your money directly, they can still hurt your company from a financial standpoint.
First, a history of breaches tarnishes your reputation. In the long run, this translates to losing business opportunities. Secondly, data breaches can lead to lawsuits from clients and business partners. It can also result in fines, issuing refunds, and paying more expensive insurance premiums. These things add up fast and can seriously affect your cash flow. In fact, 60% of SMBs will go out of business entirely within six months of a cyber attack.
Loss of Intellectual Property
Your Intellectual Property (IP) is what sets your business apart and makes clients and partners find your company appealing. But what happens if you do a poor job of securing your network? Hackers can gain access to your most precious trade secrets and intellectual property. This can be anything from recipes to blueprints to strategies that give your company a competitive edge in your industry. If someone steals that information and offers it to your direct competitors, you’ll be in a world of trouble.
Losing Customers
Some studies show that over 70% of consumers are likely to stop online interactions with brands that have a history of cybersecurity breaches. Over 30% would take their business elsewhere if they feel their personal information is at risk.
And believe it or not, most consumers will blame your company for data breaches, not the hackers responsible. Therefore, it’s imperative you start paying close attention to your IT network security protocols and bring them up to date to prevent hacks.
Top Tips to Increase IT Network Security
There are a couple of things you can start doing right now to beef up your IT network security. Consider the following:
Use a Better Firewall
This may seem like a minor adjustment, but having a firewall fit for your company or organization’s size and security needs can make a huge impact. A strong enough firewall is a good defensive layer and hacker deterrent.
Update Your Antivirus Software
It’s not enough to use antivirus software. You need to use the best software for your company to increase your IT network security. New vulnerabilities, exploits, and viruses pop up every week. Constant updates are your only defense against malware, adware, viruses, and savvy hackers.
Implement Better Employee Training Programs
Poor software choices and cybersecurity protocols won’t be the only things that help hackers access your company data. Many studies show that careless employee actions actually create network vulnerabilities.
While everyone tends to feel like they know how to avoid falling victim to phishing and other attacks, people rarely know the best IT security practices. Investing in your employee’s training in this area is highly recommended.
Why You Should Partner With a Professional to Secure Your Network
Of course, you could have the best intentions and still not have good IT network security.
Why?
It takes experts to protect you from proficient hackers. Partnering with an IT network security professional will ensure your network is monitored by the best software and people who can spot issues immediately.
In addition, you’ll have someone constantly working on uncovering vulnerabilities and plugging potential leaks. That’s hardly something that can be done without advanced industry knowledge.
Furthermore, you’ll significantly reduce your cost of preventing or fixing cyber attacks. Training an in-house team may seem appealing, but the financial investment is too high for most SMBs. Besides, partnering with a professional would spare you from having to buy software, specialized hardware, and other similar assets.
But here’s something else that makes partnering with a professional IT network security team the ideal move. You get to focus on your business objectives, knowing that the security aspect is being handled by qualified experts.
You’ll also reduce your regulatory risks and give customers and business partners peace of mind regarding your security protocols. And should something occur, a professional team will be better equipped to manage a crisis and help your company save face and its data.
Bring Your IT Network Security Practices Up to Speed
There’s no time to waste regarding beefing up your IT network security. The smallest mistakes can cost your company hundreds of thousands of dollars or more and ruin your reputation beyond repair.
If your Philadelphia, eastern Pennsylvania, New Jersey, or Delaware businesses is concerned about the quality of your practices, reaching out to a professional IT network security expert is a worthwhile move. Don’t hesitate to contact KDI to learn more about what a cybersecurity partner can do for you, your business, and your customers.