The Top 5 Reasons You Need a Cybersecurity Assessment

by | Apr 4, 2024 | Security

We all increasingly rely on technology to streamline business operations, store sensitive data, and – to use a well-worn cliché – “do more with less.” That reliance will continue to grow as technology advances such as AI impact our day-to-day work.

The same is true for the cybersecurity protecting the technologies that are essential for the deliver of services to your customers. Unfortunately, cybercriminals are exploiting these advances too. From infiltrating your IT network to impersonating your CEO’s voice for ACH scams, they’ll employ any means necessary to steal from your business.

Duke University’s Fuqua School of Business reported in their CFO Global Business Outlook survey that 80% of U.S. firms revealed they have been successfully hacked. 4 in 5 American companies hacked is no joke. Which makes it crucial that we all prioritize IT and software application security, while also training our teams to be aware of social engineering trickery.

Benefits of a Cybersecurity Assessment

One effective way to ensure the safety of your company’s technology, data, intellectual property, and employee information is by conducting a regular, comprehensive security assessment. Think of it as like an annual health check but for your IT.

According to Albert Brown, director of strategic initiatives at ZAG, “A cybersecurity assessment is not just a necessity but a strategic imperative. It’s a proactive step to safeguard your operations and strengthen the resilience of your organization against modern cyber threats.”

To better understand why a cybersecurity assessment is so important, let’s explore the top 5 reasons why every organization should consider performing one.

  1. Identify Vulnerabilities: Uncover potential weaknesses that cybercriminals could exploit. This allows you to take proactive measures to address these vulnerabilities by “seeing what the hackers see.”
  2. Protect Sensitive Data: Avoid financial losses, reputational damage, and legal implications from a breach. Help protect your sensitive data by identifying security gaps and implementing proactive defensive measures.
  3. Safeguard Intellectual Property: Protect your intellectual property, such as trade secrets, by identifying weaknesses in your systems that could lead to unauthorized access or data theft.
  4. Ensure Business Continuity: Cyberattacks often disrupt business operations leading to downtime, financial losses, and damage to brand reputation. This is especially true in high-velocity industries like manufacturing and agriculture.
  5. Build Customer Trust: Data breaches erode customer trust and can result in the loss of valuable business. A cybersecurity assessment assures your partners that your supply is certain and that their data is secure. It builds trust in your brand, translating into long-term relationships and increased loyalty.

There are of course many other reasons for conducting a regular IT security health check. These include cyber insurance compliance, improving overall network security, and potentially mitigating insider threats. Not to mention gaining an advantage over competitors who didn’t take the precautionary steps suggested here.

Do You Know What You Don’t Know?

Investing in a cybersecurity assessment is a critical step for every organization. It is like a flashlight in the dark. It’s an important part of a robust defense strategy.

As one of our clients says, “The thing about network security is that you don’t know what you don’t know. If everything is well managed, you don’t know you’ve been attacked that much. But you do know when you lose.”

If you’re overdue your annual IT security health check, contact us today get started.

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