Balancing Cybersecurity Risk With Technological Innovation

Balancing Cybersecurity Risk with Technological Innovation

The importance of cybersecurity has grown to another level because hackers and other cyber terrorists have made the most of the coronavirus pandemic worldwide. 

Therefore, companies or organizations working from anywhere whether they are small or large must improve their cybersecurity efforts in the right direction. 

Otherwise, they will keep facing numerous cybersecurity risks like hacking, malware, ransomware, phishing attacks, data theft, etc. every now and then. 

In this scenario, they must use a reliable cybersecurity tool that helps them safeguard their digital presence against all these above-mentioned threats appropriately. 

Apart from this, organizations or companies must try to create a delicate balance between cybersecurity and technological innovation. 

This is because businesses either small or large cannot outperform their competitors without innovating themselves but at the same time they should not forget the consequences of cybersecurity risks. 

Unfortunately, different cyber threats can hamper their brand image and value alongside growth in the long run to a certain extent. 

What Are The Cybersecurity Risks?

As already explained, companies may become a victim of different security threats in the near future like hacking, phishing attacks, data theft, etc. if they do not enhance their cybersecurity policies in the desired manner. 

For that reason, they should focus on improving cybersecurity awareness of their employees because human errors have become one of the main reasons behind cybersecurity incidents these days. 

Thus, small businesses and medium-sized organizations must provide basic cybersecurity training to their workforce as and when needed. 

By doing so, they can keep numerous cyber risks at bay like hacking, data theft, phishing attacks, ransomware, etc. However, the story does not end here as companies have to combat various security risks that come with technological advancement. 

Furthermore, they have to deal with other internal risks like insider threats, technical debt, and other cultural challenges that can diversify cyber issues overall. 

What Can Organizations Or Companies Do To Avoid Such Cyber Risks Without Jeopardising Their Digital Presence?

During this post COVID-19 era, companies or organizations need to think out of the box in terms of technological innovation and cybersecurity. For example, they will have to apply the famous phrase ‘prevention is always better than cure’ practically.  

For instance, they should update their official devices including desktops, laptops, mobile phones, tablets, etc. on a regular basis. This way, they can remove the security loopholes residing in these devices proactively and secure themselves from different cyber risks appropriately. 

Besides, companies should formulate a defensive strategy consisting of different factors like detection, protection, response, recovery, and resilience. 

As a result, they can identify potential cybersecurity threats and rectify them with the right approach along with the required cybersecurity mechanism in a timely manner. 

Likewise, there is no harm in onboarding a team of ethical hackers as they can perform the above process regularly to improve organizations or companies’ overall well-being. 

Ethical hackers are responsible for conducting penetration testing processes that allow them to identify hidden security risks proactively. When they successfully identify such security loopholes within corporate networks, they provide a robust security strategy to mitigate or remove these security risks without jeopardizing the digital presence of their companies or organizations.

Moreover, organizations need to get rid of this wrong perception that cybersecurity is an integral part of an IT department. In fact, it is a crucial business operation like finance, legal, human resource, and others. 

Therefore, enterprises or business entities should develop a dedicated cybersecurity department within their workplaces. Furthermore, they should always discuss the possible outcomes of any technological innovation they make in their departments with the team of cybersecurity professionals proactively. Also, cyber security training for companies is crucial to teach employees to protect themselves from potential cyber-attacks.

That’s because technological advancement may bring unexpected cybersecurity risks that become extremely difficult to rectify or overcome at times. 

Similarly, organizations or companies must install antivirus or antimalware software on their official devices. This way, hackers or other unwanted people cannot inject malware or viruses to these devices and cannot accomplish their notorious objectives eventually. 

Apart from this, employees should refrain from clicking suspicious links or attachments provided in emails sent by unknown people. Consequently, organizations can protect themselves against possible email phishing attacks to a great effect. 

Wrapping Things Up

There is no denying that the dynamics of cybersecurity have changed worldwide drastically due to the coronavirus pandemic. Therefore, organizations or companies need to up their game in terms of cybersecurity a great deal because a simple mistake be it a miscalculation or misinterpretation can cost millions of dollars. In addition, it can hamper the credibility of any organization or company to a certain degree. 

In these challenging times, business entities or enterprises must develop effective cybersecurity postures for themselves as they will help them bypass severe cybersecurity risks in the future.

As a result, they will be in a better position to reap the rewards by introducing technological innovation within their workplaces without sacrificing their digital anonymity.