Any organisation that stores sensitive or personal data knows that strong cybersecurity measures are incredibly important in today’s business world. Hacks can damage critical processes, expose company secrets or customer data, and ultimately seriously wreck an organisation’s reputation.
The introduction of the EU’s GDPR, followed by several similar regulations around the world, marked a sincere shift in thinking around information security. Not only were companies obliged to audit their data and make reasonable assurances of the cybersecurity of their supply chain, but they also had to justify the data they were holding.
Today, this trend is as important as ever. Consumers are now starting to be choosier with whom they share their personal data, as the past few years have seen highly publicised cyberattacks. As a result, organisations who are known to prioritise their cybersecurity are deemed trustworthy, giving them a competitive advantage.
From an organisation’s perspective, this may seem to lead to increased work with varying results. With the restrictions in data collection, organisations may have had to change their sales practices, affecting revenue. Moreover, an ever-expanding attack surface may leave security teams feeling overworked.
However, there are inherent business opportunities in using regulatory frameworks, which can ultimately drive growth while strengthening your organisation’s cybersecurity posture. Here are a few tips to get your organisation started:
Shift your focus to data privacy. Put yourself it your customers’ shoes. How much information are you asking them to hand over – and do you really need that information to run your business? If the answer is no, stop asking for it. This is a win-win; the customer feels your organisation is less intrusive, and your organisation has less data to store.
Review your suppliers’ cybersecurity postures. Regularly review your suppliers’ cybersecurity postures to make sure that they aren’t opening you up to an attack. If you find a third-party’s cyber status lacking, start looking for new suppliers or ask them to take steps to improve. Over time, avoiding cyberattacks will save you time, money and maintain your organisation’s trustworthy reputation.
This doesn’t have to be a time-intensive process, either; using tools like CyDesk, you can actually automate this process.
If you keep your organisation’s cybersecurity posture strong, benefits will follow – and so will customers.