Losing customers trust could be detrimental to customer retention and acquisition. According to the 2018 CA Technologies Global State of Digital Trust Survey, “48% of consumers report that they currently use, or have used in the past, services of organizations that were involved in a publicity disclosed data breach and, of those, 48% have stopped using the services of an organization because of a breach." Companies cannot afford to lose customers over these incidents. These negative consequences can have a long term impact of a business. Waiting until after a data breach has occurred to improve cybersecurity, is not an option.
Companies need to be able to show that cybersecurity is a priority to customers and potential acquirers. According to a recent report, more than a third (40%) of acquiring companies engaged in a merger and acquisition transaction said that they discovered a cybersecurity problem during due diligence. What steps should organizations be taking take to improve cybersecurity and how do you show your customers and potential acquirers that you're taking these extra steps? Improving your cybersecurity entails more than simply changing passwords more often. Having more employee training on the company's cybersecurity protocols can improve your security, but is that enough?
The training is only as good as the cybersecurity plan to back it up. Making and implementing a cybersecurity plan is the key to strengthening a company’s cybersecurity. Don’t think of cybersecurity as a one-time task, but rather as an ongoing process. Continuously improving your cybersecurity is the best way to stay ahead of potential threats. The question still remains, how do you show your commitment to cybersecurity?
People want to conduct business with companies they can rely on. Apptega provides the platform to build, maintain, and report your cybersecurity program. Many industries have specific cybersecurity frameworks they need to follow. Apptega can help companies easily achieve compliance and customize their programs. Apptega's one click reporting allows you to generate program reports in seconds. These reports can be shared with customers and potential customers to ensure them that cybersecurity is your priority.
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