2021 Data Privacy Era: Why Cybersecurity is an Important Issue in This Generation

Over the past year, digital technology proved to be a vital tool not just for individuals to work and stay productive from home, but also for different industries around the world to thrive and survive amidst the health crisis. Most businesses were able to continue their operations by adopting useful online tools and technology that enabled them to deliver service to their customers while also allowing their employees to work remotely for their safety.

A global survey conducted by McKinsey among executives found that “companies have accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.”

Given the fact that more businesses are now digitally transforming their operations, a pressing issue that needs to be addressed is the importance of cybersecurity or the practice of protecting systems, networks, and programs from cyber risks.

Now more than ever, cybersecurity is an issue that companies should not take lightly because of the following reasons:

Rise of cybercrimes

Over the years, the threats to cybersecurity have multiplied in variety and become more rampant. Some of the most common cybercrimes nowadays involve ransomware, phishing, spyware, and social engineering that can happen to any companies and businesses, no matter the size or industry, as long as cyber criminals and hackers can exploit data and get money out of them.

Without the proper security measures, cyber attacks can put an organization’s sensitive information at risk, resulting in substantial financial loss, disruption of business, and negative consumer perception. As more businesses go digital, it is predicted that cyber crime will cost the world $10.5 trillion annually by 2025.

According to Forbes, the 5 most cyber-attacked industries in the world are healthcare, manufacturing, financial services, government, and transportation.

Changing technological landscape

It can be observed that the increase in cyber crimes is proportionate with the growth and evolution of technology. As technology advances, the methods of cybercriminals in attacking their targets also become more sophisticated.

The pandemic drove companies to integrate new ways in their operations to keep up with the times. And while this has been advantageous at most, it also poses risks and vulnerabilities that hackers can exploit if not properly protected. Cloud services, for example, increase the chances of having valuable identity information exposed to the web.

The rise of IoT (Internet of Things) technology, and our heightened dependency to smart devices and the internet in general are also possible gateways for cyber criminals if not managed properly.

Companies can address the issue of cybersecurity by first checking the current security measures in place to determine areas for improvement, if there are any. After this, they can now choose to upgrade their network infrastructure and security protocols and even educate their employees about online safety. With these, there will be an increased demand for IT support personnel, which is a challenge on its own considering the competitive market for IT experts and other hiring limitations.

This is where outsourcing companies come into play. They will give you access to IT Developers, Threat and Cybersecurity groups, Penetration Analyst, Penetration Tester and DevOps Engineers and build a great team for you.

Moreover, partnering with the right outsourcing provider ensures:

Operational excellence
A great, high-performing cybersecurity support team specifically designed for your security needs
Operational cost savings of up to 70%
Standardized metrics and key performance indicators (KPIs)
ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
High Net Promoter Score (>60): Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.