Network Security is No Longer Optional: Why it is more important more than ever

Security concept with icons on wooden blocks on turquoise background

Network Security is No Longer Optional: Why it is more important more than ever

For businesses of all shapes and sizes, saving cost is equally as important as generating healthy revenue. That’s why in all ways possible, many business owners are always left cutting cost – from left and right – even for expenses that might seem expensive right now, but would actually save you a lot of money in the long run. A perfect example of this is network security.

It’s no longer possible to go on with our day-to-day routine without technology, especially in the economic environment. That said, our increasing reliance on the digital world makes us more vulnerable to the dark corners of the world wide web. In the 2017 Official Annual Cybercrime report, it’s estimated that cybercrime will cost $6 trillion annually by 2021. In 2015, that figure was $3 trillion.

For small business owners, the rhetoric might be, “My business is small – and is probably not even in the radar of these hackers.” The thing is – cyberattacks are becoming more prevalent with small businesses every year. In fact, cyberattacks on small businesses are more common than many think, with more than two-thirds of companies with fewer than 1,000 employees having experienced a cyberattack, and 58 percent having a breach,” a Keeper Security, Inc. report says. 

 

The reality is because we now live in a digital-first world, network security is no longer optional.

So, what exactly does network security do enterprises?

Data privacy concept with wooden blocks with words, lock on sage color background side view, online privacy

When your operations heavily rely on the usage of internet, LAN or other methods, the presence of network security acts as the foolproof layer of security against the myriad of ways by which cybercriminals can infiltrate your internal system. A robust and efficient network security system not only protects your business from cyberattacks, but it also reduces the risk of your business being another victim of expensive cases of data theft, ransomware, spyware, etc.

A study on cost: Network Security vs. Network Breach

hacker working in front of laptop, network security

Best to establish this now: both cost money. That said, the price for strong network security is something that you can put a specific figure on, while the cost of recovering from a breach is hard to project – and that would still depend on how massive the breach is.

A recent article published by Infosecurity Magazine concluded that for small businesses to implement effective cybersecurity measures, it would cost considerably more as a percentage of operational budget than it would for larger organizations – up to around 4% compared with 1-2% for enterprises. For the sake of comparison – when it comes to calculating how much a data breach truly cost, the figures continue to change. But to give you visibility on the numbers, Ponemon Institute reported that in 2020, data breaches on average cost $3.86 million.

 

Conclusion

To prevent security incidents from becoming a full-blown breach, a proactive approach is necessary: your business needs to employ a solid network system. Protect your network while you still can – or at least minimize the risk that comes with having a digital presence. As the old saying goes, prevention is better than cure.

 

Network security doesn’t have to expensive. Your business doesn’t need to bend over backward just to get protected. T2G Network Innovations deploy connectivity and network solutions that have guaranteed reliability, will position your network to stand strong in the face of cyber threats, and won’t break the bank. Let us know your network challenges and we will recommend the best solutions tailored to your business needs.

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