In the day and age of digital technology, it is vital for businesses to realise that security is essential for success. The corporate world has adopted many technological advancements that have seen the emergence of better, brighter business practices. Companies are becoming borderless, with traditional data centres moving into the Cloud and organisations adopting increasingly mobile assets. These advancements have enabled increased capability for companies, improving productivity, agility, and competitiveness. However, cyber threats have advanced as much as these technologies, if not more, and failure to realise this could be catastrophic for business. As former Cisco CEO John Chambers once said: “There are two kinds of companies: those who have been breached, and those who don’t know they have been breached”. Security is no longer a matter of ‘if’, but rather of ‘when’ and ‘to what extent’. Unfortunately, many businesses see cybersecurity as a cumbersome; as a complex task that increases their costs without contributing much to their capability. However, robust and streamlined security should be the foundation of strong business in a modern marketplace and can improve visibility, increase savings, and guard against disaster.
What could a cyber-attack cost you?
These disasters come in multiple forms but are primarily related to cost. In 2017, the Ponemon Cost of Data Breach study reveals that the global average cost of a data breach in Australia is $3.6million. These costs do not consider the potential $2.1million fine for not appropriately reporting data breaches under Australia’s new Notifiable Data Breach regulations, nor the loss of customer trust surrounding a data breach. There is also downtime to consider, data recovery, time spent without access to vital files, tools, and services, as well as the price of an investigation into how a cyber-attack happened – and to what extent it will affect a company.
What can you do to increase your security?
In a digital market, there are few borders, meaning that companies need to increase their visibility to obtain appropriate control over their security. Visibility enables context for more in-depth insight into past, present, and future attacks, allowing companies to understand their security loopholes and act accordingly. A thorough risk assessment and
penetration test can also provide insight into where current weaknesses are, how they might be targeted in a cyber-attack, and what a business can do to protect their most vulnerable assets. It also helps companies understand what applications and services they are not using, or are not using to their full capacity, allowing them to streamline their provisions and reduce their costs. Companies with a strong understanding of security obtain a comprehensive understanding of their existing security infrastructure, allowing them to understand how to streamline their risk reductions strategies and better manage threat protection across internal, external, and mobile environments. These companies can manage and view their security across their entire environment enable faster responses to threats. This also provides them with greater control, enabling the enforcement of policies across physical, virtual, and cloud infrastructure and the ability to utilise integrated, centralised management to accelerate detection, response, and recovery. Compliance and governance are also considered, with businesses capable of maintaining relevant regulations and standards associated with their industry.
Security with MOQdigital
In a modern age, secure businesses are successful businesses. Not only do they have a thorough assessment of their infrastructure, but they understand what to do in the event of a cyber-attack. This includes having the right policies in place for prevention, reduction, and recovery. At MOQdigital we utilise Cisco solutions to help enable greater security and believe that they are an asset to enabling secure, productive, digitally capable workplaces. If you’d like to find out how to reduce your risk and increase your success, get in touch with MOQdigital today. We take a holistic approach to securing against modern cybersecurity attacks and go beyond simply implementing anti-virus and malware solutions. With clients including the Queensland Catholic Education Commission ad Stuartholme School, we can help you secure your business both now and in the future.
Not quite sure where to start on your security journey? MOQdigital can help with a Cisco Umbrella Proof of Value.