Why Cybersecurity?

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There are topics that some people only take seriously when they fall on their toes. Data security – and the individual areas of IT security, data protection and physical security – are among them.

I sometimes wonder how many companies still don’t have a clear IT structure and corresponding security solutions as well as processes in place. They muddle through in the hope that hacker attacks will only affect others.

And I’m not just talking about Startups, but also many established small and medium-sized companies – and even large corporations!

The numbers are alarming and should have reached every executive floor yet.

According to Cybersecurity Ventures, Cybercrime damages will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. The Allianz Global Risk Barometer listed “Business interruption” as No. 1 risk in the business world for a long time. Now “Cyber incidents” are on the top of the list for several years in a row.

Really sad – also apart from all the money:

Companies often have the right experts on staff already. It’s just traditionally difficult to make budget decision-makers without a technical background – or at least a little interest – understand that this “IT” is not only complex in itself but also divided into numerous smaller areas and tasks. Even if the company does not yet offer digital products.

Cyttraction Courses & CyDocs helps to understand your business risk as well as how to protect your IT infrastructure, accounts and devices. You can buy both products here.

Here are a few points to prepare for the next (budget) discussion:

Failure Prevention

For a long time, production downtime was the biggest horror of decision makers. For the past 2 years, cyber threats have topped the list. Practice shows, however, that it will still take a while before this view is accepted everywhere. The Allianz Global Risk Barometer is only one of the sources that can be used in such discussions to support the argument. Perhaps IT security will then finally move up on the budget priority list.

Data Protection

Difficult argument – at least in several EU countries. I also get messages from shady consultants every day, always following the same pattern: trying to scare people, then trying to sell their services.

In Germany in particular, “data protection” can now be used to kill every digital innovation. In addition, the EU General Data Protection Regulation (EU GDPR) is not the best basis for actual data security in companies. At many points, you have to choose between IT security and employee data protection. Nevertheless, addressing the issue and implementing technical and organizational measures (TOMs) makes IT security a priority.

Reputation

This is another argument that decision-makers often think about too late. For me personally, the biggest horror would be if our future learning platform would be hacked and the data of our clients or their employees and business partners would become public. I base my product and investment decisions on this worst case scenario.

Of course, this is only possible if you look at the experiences or “War Stories” of other companies and find out what would be the worst case for your own business model. Then you can use this as negative benchmark and prevent it.

Innovative Digital Products

Problems with IT security usually means IT infrastructure chaos. And that suggests that the company already lacks a valid internal database and functioning digital processes. Then it’s double difficult to offer and scale attractive digital products.

Healthy Basis for Long-term Success

Once there is order, structure and a sound understanding of data security, this is a good basis for continuous growth – in other words, for scalability and profitable digital production. Without an IT infrastructure blowing up every few days!

Employer Attractiveness

Modern technical equipment and advanced work processes have been on the wish list of many sought-after professionals for years – and not just among the younger generations. A company that is digitally and securely positioned and therefore not afraid of remote work or digital nomads has a clear advantage in recruiting.

Side Effects:

No Shadow IT anymore

In many companies, there exist two groups of IT solutions: The ones that are used every day and the ones the company just pays for. Especially software and database business models are based on subscriptions. And most IT departments see the management of these subscription payments as a task for the accounting team. But how should Accounting know what IT still uses? In the end, there are actually unused systems that cost a lot and in the worst case are also hosting sensitive data – without proper maintenance.

Cyttraction Courses & CyDocs helps to find out about this Shadow IT solutions, clean up and save the fees. You can buy both products here.

Smarter IT Budget

Next to the shadow IT problem, companies also need to adjust their IT infrastructure more often than 20 years ago. The digital world is moving faster and new software can better improve work and payment processes than old one. Once you prepared a first CyDocs overview, it will be much easier for the management to make IT infrastructure and budget decisions – and keep everything up to date.

Due to the complexity as well as the very short update and innovation cycles in the digital world, you are best prepared if you develop a mindset of curiosity and schedule regular follow-ups for your (cybersecurity) projects. This task will never be completely done. You can just do your best to make it as convenient as possible for your future self, your colleagues or the one that will take over your job and CyDocs Sheet when you move on with your career.

This text is taken from the CyDocs Booklet. Cyttraction Courses & CyDocs helps to understand your business risk as well as how to protect your IT infrastructure, accounts and devices. You can buy both products here.

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