Why Invest in Cybersecurity as an Enterprise: 10 Reasons

​Evolve Bank, Kaiser, and Synnovis—these are just some of the big enterprises that have been exposed to cyber threats in recent years. In the summer of 2024, hackers stole the personal information of over 7 million users at Evolve Bank, while Kaiser, a US tech giant, breached 13.4 million patients’ data. Needless to say, this affected their reputation and market position. And these cases are countless. 

What is the role of cybersecurity in enterprises? How can you make sure your company is resilient against cyber threats? In this piece, we’ll discuss ten reasons why you should establish your own corporate data protection policy and make cybersecurity investment your top priority.

What Makes Cybersecurity so Important for Enterprises 

In 2024, our world will be more interconnected than ever with smart IoT devices, cashless payments, telemedicine, and more. The digital landscape is filled with potential security threats, from data breaches and social engineering to ransomware attacks, all of which pose significant risks to sensitive information and business operations. So, let's see what makes cybersecurity so important for established businesses.

Imagine your enterprise as a modern skyscraper. Everything might look fine, but the absence of the smallest brick or panel can make all the difference — and the building will no longer be safe. Just as a skyscraper needs a properly thought-out plan, your organization requires a comprehensive cybersecurity strategy to safeguard its valuable data.

We usually recommend our clients consider cybersecurity not merely as a technical concern but mostly as a crucial strategic priority for the sustainability and growth of their organization. By placing cybersecurity at the forefront, companies effectively protect their future and ensure long-term success.

10 Reasons Why Enterprises Should Invest in Cybersecurity 

Here are ten compelling reasons why investing in cybersecurity should be a priority for your organization this year and in the future:

1. Protect your company against data breaches

The sad reality is that cyber-attacks are becoming more sophisticated, with hackers continuously improving their tactics. Over 60% of small and medium enterprises experience a data breach. According to recent statistics, the average cost of a data breach results in millions of dollars, hours of downtime, legal fees, regulatory fines, and damage to reputation. Investing in robust cybersecurity can help prevent these costly incidents.

2. Comply with cybersecurity laws and regulations

Industries that process a lot of sensitive information, like healthcare or finance, are subject to some strict data protection regulations, including GDPR, HIPAA, and PCI-DSS, to name a few. If the company fails to meet these compliance requirements, substantial fines and even legal complications can result. That's why we recommend investing in cybersecurity and compliance so that companies can avoid the significant financial and reputational risks associated with non-compliance.

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3. Safeguard customer trust

Consumers in all industries are becoming more educated and demanding. As a result, your clients expect your business to protect their personal information. A single breach can lead to losing customer trust, which can take years to rebuild. A strong cybersecurity posture boosts brand reputation, demonstrating to customers that you prioritize their security first. This helps both retain existing customers and attract new ones, of course.

4. Stay operational 

Cyber incidents can disrupt operations, leading to costly downtime. Can you imagine your company being out of operations for a day or two? Sure you can’t. This is akin to some famous hypermarket being closed in the middle of the working day. By investing in cybersecurity, enterprises can develop robust incident response plans, ensuring rapid recovery from incidents and minimizing disruptions to business operations.

5. Create your competitive advantage

A strong cybersecurity posture 100% differentiates your business from competitors. Why? Companies committed to cybersecurity can use this as an effective marketing tool. Besides, most organizations prefer to partner with companies with solid cybersecurity measures, reducing risk for both parties. As a result, a strong commitment to cybersecurity will open doors to new opportunities and partnerships.

6. Future-proof your business

The cybersecurity landscape is dynamic, with new threats emerging daily. Investing in cybersecurity is not a one-time expense but an ongoing commitment to stay ahead of potential risks. A well-structured cybersecurity strategy allows for innovation and growth. As your enterprise evolves, a strong cybersecurity foundation will enable you to adopt new technologies confidently, knowing you have protective measures.

7. Prevent and manage cyber risks

A robust cybersecurity strategy helps identify potential vulnerabilities before they can be exploited, reducing overall risk exposure. By investing in cybersecurity measures, enterprises can manage and mitigate risks more effectively, ensuring long-term stability.

8. Protect your intellectual property

For many enterprises, intellectual property is a key asset. Cyber attacks can lead to theft or compromise of critical proprietary information. Protecting your innovations ensures that your competitive edge remains intact, fostering continued growth and development.

9. Train employees and keep them aware

Many breaches occur due to human error. Investing in cybersecurity includes training employees on best practices and awareness of phishing and social engineering attacks. A well-informed workforce is your first line of defense against cyber threats, making employee training a critical component of your cybersecurity strategy.

10. Get insurance and financial benefits

Many insurers require proof of cybersecurity measures before providing coverage. Investing in cybersecurity can lead to lower premiums and better coverage options. The cost of investing in cybersecurity is often much lower than the potential losses associated with breaches. It’s a smart financial move that can save your enterprise money in the long run.

How to Protect Your Enterprise from Cyber Threats: Key Steps from Ardas Team

Protecting your enterprise is a critical responsibility for every leader and IT team. Here are essential steps to bolster your organization's defenses against cyber attacks:

1. Conduct a risk assessment

Start by identifying your assets—critical data, systems, and networks—and evaluating vulnerabilities. Understand what threats are most relevant to your business, from phishing attacks to ransomware. Regular risk assessments will help you stay ahead of emerging threats.

If you don’t have in-house experts for assessments, consider professional vendors with the needed expertise. Ardas's expert DevOps team thoroughly examines your initial cloud environment to identify vulnerabilities and improvements and offer actionable insights.
 

Our cloud assessment and strategic planning includes:   

• Discover and map your entire cloud environment;
• Assess reliability, performance, cost efficiency, and operational effectiveness;
• Scan console settings, networking configurations, and vulnerabilities;
• Score your setup against top security and compliance standards;
• Provide a detailed, prioritized report with optimization recommendations.

2. Develop a comprehensive cybersecurity policy

A robust cybersecurity policy is essential. Define roles and responsibilities within your organization, ensuring everyone knows their part in maintaining security. Establish clear protocols for data handling, incident response, and access control, and commit to regularly reviewing and updating these policies to adapt to new challenges.

3. Implement solid access controls

Limit access to sensitive information through role-based access control (RBAC). Ensure employees have access only to what is necessary for their roles. Additionally, multi-factor authentication (MFA) should be enforced to provide an extra layer of security, making it harder for unauthorized users to gain access.

4. Invest in employee training

Employees often present the most significant vulnerability in cybersecurity. Regular training helps staff recognize phishing attempts, practice safe browsing, and understand the importance of strong passwords, all essential for cultivating a culture of security awareness.

At Ardas, we prioritize proactive protection. Our IT Administrators to DevOps conduct regular training sessions, provide educational videos, and share presentations with our entire team equipping everyone to prevent social engineering attacks before they occur. We also consult our clients on conducting regular preventive employee training in their teams. 

5. Always monitor and respond fast

Implement continuous monitoring of your systems to detect unusual activity. Establish an incident response plan that outlines steps to take during a breach. Quick and effective responses can minimize damage and downtime.

Conclusion

Above are the most common benefits of cybersecurity investment for well-established companies. With the right strategic approach, you can ensure your enterprise stays operational, competitive, and, most importantly, true to your customers.