Why It Security Is Important For Business

IT Security For Business

While Liberty Technology provides IT disaster recovery and stands ready to assist you in a moment of crisis, we hope that day never comes. Taking preventative measures can drastically increase the probability that it never will.

Don’t think you need the top of the line in IT security or worried it costs too much money? Here’s what could happen if you wait too long to upgrade your data security:

Data breaches cost millions of dollars

A data breach is defined as one entity gaining unauthorized access to another entity’s information. This can be intentional, such as a cybercriminal hacking into your system, or unintentional, such as an employee sending a sensitive email to an unintended recipient.

Besides losing the trust of your clients and customers, the potential amount of money a single data breach can cost your company is something to worry about. If a cybercriminal breaches your network with ransomware, they can lock out crucial data and keep you from accessing it until you have paid a ransom. Sometimes this ransom can demand millions of dollars.

The amount a data breach will cost your company will vary depending on the size of your company and the industry you are in, but IBM’s 2021 Cost of Data Breach report found that the average worldwide cost of a data breach rose from $3.86 million in 2020 to $4.24 million in 2021. For the United States alone, that average was $9.05 million. In 2021, the United States saw the highest average data breach cost in 17 years, with the healthcare industry having an average cost of $9.23 million.

Data breaches take a long time to contain

One of the reasons data breaches cost so much money is that they often take months, sometimes even years, to contain. According to the same IBM report, the average time it took for respondents to identify and contain a breach was 287 days. Imagine having to spend the better part of a year dealing with this nightmare. In addition, it will take even longer to rebuild and regain the trust of your customer base.

Information security is paramount to your customers

Concerning your customers, you will stand to lose a significant amount of business if their personal information (social security numbers, credit card information, bank account information, email addresses, passwords, social media accounts) is compromised. Even worse, those customers could file a class action lawsuit against your company and put you on the hook for millions of dollars more in damages.

Upgrading can make recovery less painful if it does happen

While it’s never a guarantee that data breaches won’t happen, upgrading your security system will minimize the damage even if it doesn’t prevent it altogether. A well-organized, upgraded system will allow response teams to identify and contain the breach quicker than an unstructured or unprepared system, allowing you to get back on track sooner. According to the IBM report, companies saved an average of 30% in recovery expenses when a data breach was contained in 200 days or less.

Get an IT Assessment

Don’t let a data breach leave you asking, “What if I had done more?” Prepare yourself today! Let Liberty Technology ensure your company is as prepared as possible. Peace of mind comes when you know that you have the best chance of preventing a data breach and minimizing the damage as much as possible, should one occur. One way to know where you stand is for Liberty Technology to perform a deep dive into your current IT infrastructure via our IT Assessment. This allows us to review all aspects of your IT, leaving you with a detailed diagnosis of liabilites and weaknesses.

When you choose Liberty Technology you are choosing a company that specializes in IT data security and backup data security, disaster recovery, and prevention. We provide state-of-the-art IT security for government organizations and companies across the healthcare, financial, manufacturing, retail, and education industries. Give us a call today!

Back Next

Recent Blogs

IT Security For Business

Unlocking Efficiency: The Benefits of Cisco Unified Communications for Your Business

Effective communication is the cornerstone of success in the dynamic realm of modern business. As companies strive to enhance collaboration and streamline communication processes, adopting Cisco Unified Communications Solutions is a strategic move. Today, we’re exploring the myriad advantages businesses can reap by harnessing the power of Cisco collaboration products, emphasizing how Liberty Technology’s IT […]
Feb 1st, 2024
IT Security For Business

Looking Ahead: IT Trends for 2024

Navigating the Future: IT Trends for 2024 In the ever-evolving landscape of technology, staying ahead of the curve is not just an advantage; it’s a necessity. As we stand at the threshold of 2024, businesses must anticipate the upcoming trends that will shape the IT landscape. Let’s explore the critical IT trends for 2024 and […]
Jan 1st, 2024
IT Security For Business

2023: A Year of Collective Strength, Community Commitment, and Forward Thinking at Liberty Technology

Hello everyone, As we eagerly anticipate the arrival of 2024, we at Liberty Technology want to take a moment to reflect on 2023. It’s been a year of significant challenges, but also one of immense growth and community spirit. Our Community: Coming Together in Times of Need The year began on a challenging note with […]
Dec 11th, 2023
IT Security For Business

What Can a VCIO Do for You?

In an ever-evolving digital world, businesses are constantly looking for ways to stay on top of technological advancements and stay competitive. Often, the responsibility falls on the shoulders of a Chief Information Officer (CIO). But for many small and medium-sized businesses, hiring a full-time CIO might not be feasible. Enter the VCIO – Virtual Chief […]
Nov 1st, 2023
IT Security For Business

Cybersecurity for 2023

Every day, tech continues to amaze (and frighten) us with increasingly impressive products, AI, and speed. While these developments increase productivity and our overall good, some individuals will inevitably twist new tech for their nefarious purposes. Among the many worries that circle our safety online, one of the most concerning is being hacked, especially in […]
Oct 2nd, 2023
IT Security For Business

Advantages of the Verkada Cloud-Based Physical Security System

Today, physical security is more important than ever. There are many options available to protect your business and commercial property, but selecting a high-quality security system is the most important way to guarantee maximum security. The brand that stands out from the rest is Verkada. Keep reading to learn about the advantages of choosing Verkada […]
Sep 1st, 2023
IT Security For Business

What Are the Benefits of Managed IT Services?

Nearly every business requires IT services. Without them, technology could be hard to manage, rendering a company’s process less efficient and rough. In short, IT services in Macon, GA, are essential to keeping your local business running smoothly. They also change with the times and adapt to the constant improvements in technology. Ideal IT services […]
Aug 1st, 2023
IT Security For Business

The Risks of a Non-Secure Server

In a business, servers could be called the “heart” of the building. Depending on the type, servers hold most or all of a company’s data, down to the most secure information such as documents, executables (a file used to perform operations or functions on a computer), and even photos or videos. Needless to say, when […]
Jul 3rd, 2023
IT Security For Business

Are You Ready for the Post-COVID Hybrid Work Model?

Covid forever changed the way we work. Is your office capable of handling the demands the hybrid office places on it? Is your network set up for success? Is your data and hardware secure? If not, you’re going to fall behind your competition. The new workspace is changing, mostly for the better. Below you’ll find […]
Jun 1st, 2023
IT Security For Business

Common Cloud Security Mistakes

A common practice for storing data is using the “cloud,” the system of internet-accessed storage, networking, software, and more. There are many services now offering space for all our files, programs, and applications, and this option has become critical to many individuals and businesses. This type of storage has plenty of advantages, such as remote […]
May 2nd, 2023
IT Security For Business

Understanding the Risks of Outdated Tech

We all want our electronic devices to serve us well. We want to get our work done efficiently, without hiccups, viruses, software or hardware issues, and without any problems, period. But since there aren’t any perfect machines (not yet, anyway), devices will always have their limits. Technology problems are so frustrating and common because we […]
Apr 10th, 2023
IT Security For Business

The Liberty Tech Difference: Data Security

The best way to get hacked is to think you won’t be. Liberty Technology offers the most comprehensive security package available, powered by Cisco’s Advanced Security Architecture. Your business data needs to be protected, and the best defense against today’s advanced security threats is a good offense–one that outsmarts emerging threats while they’re still just […]
Mar 1st, 2023