Information has become one of the most valuable resources today. As our world becomes more and more digitized, protecting valuable data has become a major challenge for business—not just for the big corporations, but also smaller companies. Data theft or hacking is a serious threat to businesses of all sizes and in all industries. So, as long as there data is digitally stored, anyone can be a target. That is why a growing number of companies have been paying more and more attention and investing heavily on protecting their information. In 2017, the value of the cyber security market is expected to reach $120 billion.

Data theft, hacking, and more recently the ransomware threat can dramatically affect the reputation, profitability, and viability of companies in many ways. If your business gets targeted, you must deal with the impact of the data breach and containing the threat to prevent more data from being lost. Recovery and restoring the lost data will also be a huge headache. And then there is the issue of restoring the loyalty and confidence of your stakeholders, clients or customers. All of these will cost a lot of money and can really hurt your bottom line or worse, kill off your business altogether.

That is why it is imperative to shore up your data protection and security. Just because your company is small doesn’t mean that it is less susceptible to attacks. In fact, 71% of reported cyber-attacks target small and medium businesses.

When it comes to cyber security, prevention is always better (and less costly) than a cure. The main problem with cyber security is that the threat constantly evolves. As such, the need is to have a dynamic and proactive solution to protect oneself from these cyber threats. Investing now on protective measures such as good antivirus software, firewall protection, strong and secure password systems, and a strong awareness on cyber threats is the key to safeguard your information from intrusion and unauthorized access. A mindset of constant improvement and investment in cyber security systems is necessary to insure a company’s survival in today’s digital world.

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