In today’s world, network security is a necessity not just for businesses, but for individual users. Network security translates to secure data, protection against cyberattacks, control over access, and more. A fifth of small businesses have not invested in endpoint security and more than half do not have a cybersecurity expert monitoring their systems consistently. Implementing effective network security may seem costly, but it is an investment that will save your business from becoming yet another cybercrime statistic.
In this article, we will address the benefits of network security for small to medium businesses
What Is Network Security?
Network security encompasses all the policies, actions, and practices that are used to detect and prevent system breaches. Network security includes both hardware and software solutions and any processes that are related to network usage.
Network security involves the following:
- Endpoint security
- Web security
- Wireless security
- Firewalls
- Antivirus software, and more
What Are The Benefits Of Network Security
Network security is a vital component in protecting your business. Good network security means less overhead costs, a lower chance of security breaches, less downtime, and more. Let’s look at some of the reasons why businesses need network security.
Comply With Data Protection Regulations
When cybercriminals target businesses, they will go for the most vulnerable spot, which is your data. This means that businesses should take measures to ensure that their data is safe from any threats. This is where regulatory bodies come in. Regulatory bodies ensure that every business complies with data protection rules. Failure to comply will result in either hefty fines or trading restrictions can be imposed, which cripples your business.
A secure network helps you to keep your data safe and keep compliant, which saves you a lot of problems in the long run. Make sure you stay up to date on your security and keep up with the data protection laws in your region.
Prevent Network Downtime
In 2020, 25% of businesses reported that poor network security and downtime cost them up to $301,000 to $400,000 every hour. A faulty and unsecured network means that employees cannot access company data and all operations come to a halt.
Network downtime can also cost business customers and negatively affect customer retention. A secure network helps you to avoid security breaches through the use of proactive monitoring tools. Consistent monitoring helps experts to identify unusual behavior and stop it in its tracks before any damage can be done.
A good example is when hackers implement a denial of service attack. Experts will notice an increase in messages or requests that are meant to clog your network and cause it to glitch. If this anomaly is noticed early, the attack can be warded off before much damage is done. IT experts can help businesses to back up their data and put in place contingency plans in case of such scenarios.
Gain Control Over Access
Access control makes it possible to control the accessibility of certain levels of company data. Unauthorized employees including anyone trying to access company data without clearance are blocked and IT experts are alerted to the attempted breach.
Making use of a remote access VPN gives your customers secure access to your company network. They can log in to your app or make purchases and more without having to worry about potential threats to data safety. Measures like the implementation of multi-factor authentication, and end-to-end encryption of all data that goes in or out of the system ensure that client data is kept secure.
Another way to control access to data is to adopt Zero Trust Network Access. Employees or users are only granted access to information that they need in order to get a task done. Nothing more. This solution is a perfect fit for organizations that deal with large amounts of sensitive data.
Protect Your Business External And Internal Threats
A computer is hacked every few seconds. Hackers will attempt to infiltrate your business multiple times in the course of your business journey. Having a secure network will drastically reduce the chances of your company being infiltrated by cybercriminals. A secure network promotes user privacy and prevents cyberattacks on employee devices.
On the other hand, about 30% of cybersecurity breaches originate internally. This means that your business should be fortified inside and out. A disgruntled employee can intentionally leak information or create vulnerabilities in your system, which can potentially bring your business to its knees. Some internal breaches also stem from an accidental click here and there, so your business should have an IT support plan in place to provide solutions to these problems.
It is essential to take the time to train your employees in cybersecurity best practices to lessen the risk of any unintentional and potentially damning action. Network security will reduce the risk of data breaches and protect your business from would-be hackers. Good network security involves data backup and email scanning in case of emergencies.
Present An Appealing Business Proposition To Consumers
It’s not just regulatory bodies like HIPAA that care about the data protection measures in your business. Consumers are more likely to feel safe if they know that you have a secure network and their data is protected. With cyberattacks making headlines more and more frequently, more consumers are now aware of the risks that come with businesses being privy to so much data, and they are taking measures to protect themselves.
About 32% of consumers will switch companies if they are dissatisfied with the security of their data.
Consumers that feel safe and secure have a high likelihood of becoming loyal customers, and good customer retention will put your business a mile ahead. You can contact IT experts that will help you secure your network and add subtle touches like multi-factor authentication to give your consumers a sense of security.
Secure Your Business
Securing your network is an investment that pays for itself in the long run. Data protection can save your business thousands of dollars in damages. It can also help you to comply with data protection regulations and stay away from potential lawsuits. Take steps to develop a perfect planned network security system and fortify your business.