Ever wondered why being data-oriented in operations has now become an absolute must for today's businesses? Data is digital gold, and it requires the most effective cyber security

Undoubtedly, as humans, our relationship with oxygen is the atmospheric equivalent of how data affects the business world. It pervades every facet of business existence, from customer data to sensitive employee information and financial transactions. In fact, data analysis is used to inform the decision-making process of businesses to serve customers better. The reason behind this is not rocket science. Products are made for customers. Not customers for products.

This underscores the value of data that holds sway in today's businesses, and by extension, the responsibility it imposes on these business organizations. Organizations now have to secure their data and make such data accessible to employees who need it, when they need it. There is also the responsibility to keep it up-to-date, accurate, secure, and marked with the utmost confidentiality.

Today data privacy is a considerable action point for businesses who are looking to secure the confidence of their customers and improve their brand image as a business that is trustworthy enough to secure their data (and their interests when it's time for them to grab their wallets and make that purchase).

Global data regulations

The GDPR brought an added dimension to the significance of data privacy and security moving forward by upping the stakes of data protection from mere business exigency to a legal necessity. According to the GDPR in article 25, a data controller must 'implement appropriate technical and organizational measures to ensure and to be able to demonstrate that processing is performed following the Regulation.'

A strict interpretation of this statute dictates that security awareness training is an integral part of those measures. Now more than ever, employees must understand the grand scale and proportions of data implications and the importance of adhering to data security procedures and processes. The societal backlash and negative outbursts from victims and commentators may have devastating effects on the brand and business confidence.

Cyber security services is crucial

In a world rife with scandalous bursts of ransomware, cyber breaches, hacks, and other sinisterly orchestrated 'data heists.' We cannot stress the issue of information security enough. Ensuring security means safeguarding data to the best of your business's ability, and customers expect that businesses live up to this billing. Securing data means preserving your brand reputation and public perception, further positioning you as a trustworthy brand. If you're in business, you don't want to be that brand whose customers have to think long and hard about entering their credit card info when hit with your paywall.

Businesses that don't do well to invest in and update their state-of-the-art security systems are more prone to data breaches and outside sources. There's no running away from data security if your brand reputation means anything to you—which it should. As such, many organizations are partnering with cyber security services providers to ensure they never have to worry about an inconvenient data breach.

Reduce downtime

An undisturbed workflow is the bread and butter of many businesses. Its implications are steep, and experiencing downtime for a long time may even occasionally lead to the collapse of a company. This means customer expectations are largely unmet, and it often means the beginning of the end for such a business.

Data breaches cause the vast majority of outages today. The incidence of data breaches can ruffle the feathers of any company and prove chaotic to the smooth sail of operations. This means that there is a straight-line correlation between the actions of cyber criminals and most company losses that arise from an incidence of a data breach.

While there can be denying that most data protection recommendations are on the high side, it remains primarily essential. Such mechanisms must be in place to guard against downtime. It might be the only way your company will be able to sustain its fulfillment of the demands of its customers.

The threat of a cyber attack is on the rise

Cyber attacks have been on the ascendency for some time now, but these incidents seem to have reached their peak last year. So, there's a huge chance you've been a victim (by proxy/association with the targeted company), However, If you've ever been a direct victim, then you probably know that cyber attacks can lead to a black hole of endless spending and recovery.

Cyber breaches happen on a daily basis, exposing email addresses, passwords, credit card numbers, social security numbers, and other susceptible data points to strangers who may sell this information to cause harm or make a profit.

When they happen to businesses, essential services are disrupted due to the breach. As a result, employees can’t work or help customers for hours, days, sometimes even weeks. The effect? Customers are unable to access your services physically or digitally. This triggers a downslope running curve on your bottom line.

Cyber attacks come in different forms. It could be the occasional hack, or a grand-scale theft of sensitive data, throwing a spanner in the works of your business operations. And that's just scratching the surface. Effective data recovery costs a fortune. But then, your customer confidence is already left teetering on edge or is entirely diminished by then.

All organizations should take adequate data protection measures to abate a potential data breach even before this happens. And if it does happen, it's often best to act without delay. Yet, if you partner with an experienced cyber security services provider, you can rest assured your data is always protected.

The data protection compliance dilemma

Data protection for businesses now means you need fundamentally secure access to all customer and business-sensitive data and are readily accessible while adhering to all market-related regulations, legislation, and corporate policy.

This is where the head-racking comes in. How do you juggle too many balls all at once? Cost-cutting is often a factor, too, particularly at a time when IT teams are expected to accomplish more than ever in terms of innovation, security, and optimization. This dilemma is often the primary source of headaches for CTOs, CIOs, and IT managers.

Have you already experienced a cyber attack?

When stuff 'hits the fan' and your company gets hit by a cyber attack, your already overworked and possibly under-staffed IT team will have to go above and beyond to get services and security back up and running as soon as possible. Unfortunately, this is not the time to discover your cyber security resources aren’t up to snuff. These sorts of events are often a terrifying wake-up call, bringing everyone's attention to the company's surprisingly high susceptibility to cyber attacks.

This is where you, as the business owner and other relevant personnel, go back to the drawing board and start asking questions on how better to protect your company, its workers, and customers. Of course, you'd want to consider the cost implications while you're at it as well.

And that's where MSSPs can help. Managed Security Services Providers (MSSP) are vendors that offer structural security solutions against cyber attacks, including up-to-date knowledge on the newest cyber threats and applicable remedies.

Put, they are companies that provide managed security services for businesses looking to secure optimum data protection. And you would imagine, a ton of organizations are seizing this initiative through tie-ups with Managed Security Services Providers (MSSP), typically in addition to their current cyber program, as security threats become more prevalent.

MSSPs offer expert monitoring and administration, ensuring that hardware and data are protected against potential threats.

MSSPs are usually third-party companies that manage and implement network security and other forms of data protection and security measures for businesses. These security solutions often range from blocking spams and viruses to managing firewalls, intercepting potential data intrusion, configuring and securing VPNs (Virtual Private Networks), carrying out changes and security upgrades for your systems.

MSSPs also keep a constant eye on the organization's security devices and systems. The majority of MSSPs provide a variety of services spanning:

• Device management
• Monitoring and management of logs
• Vulnerability assessments and remediation
• Consultancy

They also commonly offer their services in a SaaS (Software-as-a-service) model where you don't need any extra employees, and you also don't require the purchase of any hardware.

We've listed several perks of partnering cyber security services provider below:

• Lower costs
• You can focus on what matters — running your business frictionlessly.
• You get access to world-class tools and experts
• Direct cyber protection
• Potential security compromise or breach is detected and fixed, taking the hassle out of your security concerns.
• You get actionable insights and reduced alert fatigue.
• Ultra-scalable

Increase cyber security without adding in-house resources

If you're in business, you should be looking to halve costs while significantly improving your security functions and processes. And that's what hiring managed cybersecurity services offer you.

They offer uninterrupted scrutiny of your data security without you having to build an internal security team dedicated to data protection (which might flop) at a fraction of the price. That's a no-brainer for any business owner, as this means that businesses get the best bang for their bucks, and they even get to save some.

Managed cybersecurity services carry out compliance audits and vulnerability testing, thus enabling businesses to operate within legal boundaries, avoiding costly penalties.

Intercept persistent threats

Because Managed Security Service Providers collaborate with various security operation centers, it is simpler for them to detect and eliminate threats early on. MSSPs are cyber security industry leaders who are always on the lookout for new attack and data breach paradigms. Hackers have a hard time being detected by these industry professionals.

SIEM

Managed Security Service Providers assist businesses in implementing security information and management systems to detect threats and unusual patterns. It is common for companies to purchase SIEM (Security Information and Event Management) systems but fluff their lines when it comes to implementation. MSSPs are trained experts, and an added value of their service is that they get to help companies navigate the murky waters of SIEM execution for world-class data security.

Proactive approach

Another advantage of using Managed Security Service Providers is that most assaults will not progress to the final level. They will be discovered, intercepted, and neutralized in the early phases. An MSSP will identify unusual patterns, and they will implement the necessary measures immediately.

These trained experts ensure that the nature of the assault is looked into. They devise a contingency plan to ensure that the danger is neutralized and without disrupting critical operations of the business.

Manage risk and compliance effectively

HIPPA, GDPR, FISMA, and ISO are just a few of the laws that have been enacted as a result of data breaches and cyber attacks. It's tough for a company to focus on both growth and compliance at the same time. And this explains the value of managed security services.

Businesses may focus on development instead of risk and compliance management with the help of such services. Managed Security Service Providers have enough skin in the game to ensure that your assets are protected against the latest threats, and you remain compliant even in the face of ever-changing laws.

Essential cyber security monitoring

By providing round-the-clock monitoring services, a managed security services provider plays a vital role in keeping your network safe. It's also critical to recall that these services cut down on downtime, limit the impact of cyber threat, and boost productivity,

Focus on what you do best

Among other things, cyber attacks have gained notoriety for rendering business owners to become make-shift data security officers. Managed security services providers bring this trend to a grinding halt. Now, there's enough time to concentrate on core business processes and increase the bottom line. No more fussing about data protection or even compliance.

In Conclusion

As the Internet sets the stage for business owners to start from the ground up and build successful companies, it also puts established industry leaders at risk of losing their business confidence and brand reputation to the hardship of a data breach.

This has necessitated the need for policy and legal measures. And the GDPR does just that. That said, the flipside of this is the increased regulatory strain on businesses, making it more difficult for them to focus on product/service development to satisfy their customers while still complying with rules.

By and large, In a world where business owners might be left with product development, process improvement, sales, critical decision-making, and one too many regulatory 'tabs' to keep up with, Managed Security Service Providers (MSSPs) like SSI can offer the data protection solution - reach out & learn more here!