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How Information Security will Impact Strategic Business Decisions in 2019
You set up your business. It grows from a mere idea to a profitable and fully-operating entity. You now have a long list of clients, and just like any other company, you store important customer information for future processes and marketing purpose. In the end, you are left with the information that your customers treasure and value in their lives, and since you have saved it, it is now your responsibility to provide utmost protection to their personal information. In addition to that sensitive information related to your customers, you also have a myriad of private and confidential information about your business functions and other internal success secrets that needs to be protected.
As far as information security is concerned, your organization is responsible for protecting your customers' data as well as your company's data. And information security is more important than ever today. Over the past few years, we have seen big shots like Equifax and Target falling victim to cyberattacks. Companies now need to implement software, hardware, consultants, tools, and all the important measures to take cybersecurity to the next level. This is especially important now as experts have also identified the link between cybersecurity and business decision-making. It is important for organizations to measure as to what extent business success and its ability to innovate and grow is affected by cyber threats.
Data Security and Its Role in Business Innovation and Growth
In 2019, there will be a major shift towards strategic business decisions, when information like the strength of cybersecurity will help the business make major decisions and help to grow. After all, more than 90% of the businesses believe that maintaining a strong cybersecurity system could enhance their market reputation, and possibly attract more customers.
Cybersecurity is no more just a cost for businesses. With the right approach and data security training, it can both protect and create new levels of business innovation and growth. Based on the reliability of the data security system, the organization can make well-informed and better decisions for the business. The training enables the IT staff to increase the organization's ability to protect itself instead of feeling fatalistic or overwhelmed about the attack. A more positive approach is required, which only a trained and skilled team will be able to depict.
In an organization with a cloud-first approach, cybersecurity becomes even more crucial. It is the very core of a digital business that needs to be taken care of. This is the center where new ideas are drafted to develop business growth and agility.
Cybersecurity Training Key Aspects
Cybersecurity awareness isn't a one-off training program. The organization should focus on forming it as an integral part of the organization's culture to keep up with cybersecurity at all times. Doing so helps each and every employee work is a much secure environment, and customers become more reliant on you for their data security. The culture of data security also reduces the risk of security breach and other vulnerabilities in the system. Here are the key aspects of cybersecurity training:
Reduced Security Breaches
Training your IT staff of security protocols and ensuring they are in compliance with the security policies are likely to reduce the risk of security breaches. This is an important measure to safeguard your organization's operational ability. Moreover, you are also able to reduce the likelihood of lawsuits, fines, and security audits that are often a result of data security breaches.
Although training the staff and implementing the security measures may involve costs, it will cost much more to repair the company's damaged reputation, assets, and computers in case of a security breach incident. Additionally, it is easier for trained and skilled employees to spot damage and breach sooner, thereby taking immediate actions to address the issue and minimize its impact. Ultimately, the organization will figure out that it's cheaper to be proactive.
Increased Customer Satisfaction
The level of customer satisfaction directly translates to the growth and success of the business. When a business has strong security measures and less risk of breaching incidents, customers feel more confident in offering such companies their private information. As a result, the organization faces lesser lawsuits and similar issues.
Cybersecurity Business Enablement for Strategic Decision Making
Clearly, improved cybersecurity improves a business' enablement for making more informed and important decisions. Here are a few ways this could be done:
Digital supply chains can be quite complex for its global networking infrastructure. It requires precise collaboration among multiple parties to get such a model working efficiently. Organizations with agile and mature cybersecurity policies can enhance these opportunities by earning trust with market movers and visionaries. This enables a business to make decisions for growth and expansion.
The presence of security threat can be an opportunity for organizations to prove their robust protection for their customers. Companies who manage to earn the trust of their customers are naturally in a much secure position as compared to the competitors and therefore have more room to take business growth decisions.
An Innovative Approach
Strong cybersecurity system protects an organization's resources and data. Setting up strong barriers to prevent breaches not only save you from losing millions of dollars, but it also gives you an opportunity to invest in growth. Moreover, it gives companies the opportunity to proceed with a mission-critical initiative that involves potentially sensitive or vulnerable information.
The advantages of improving strategic business decision-making are real, and when the organization thinks of it as a business-enabler, the point of view changes completely. These measures need to be implemented right away as cybersecurity will remain a constant concern for businesses operating in a modern digital world. To make sure you grab all the available opportunities without incurring huge costs, adopting the right approach is crucial. Cybersecurity can both create and protect new levels of business growth and to maximize the impact, it is imperative to offer information security training and certifications such as CISSP and CISSO to your IT staff.