As 2020 techniques, cybersecurity is top of thoughts for c-suite executives at just about any company, in every sector. Indeed, moving consumer sentiment, increased government legislation and escalating costs have made this issue unavoidable.The latest  Cost of the Data Breach Study   revealed that the average breach expenses a company nearly $4 million, as well as the immediate financial implications are just the start. For instance, a recent study found that  81% of consumers might stop interacting with a brand online   after a data breach, starving businesses of a critical opportunity to interact with their customers during the recovery procedure.

At the same time, privacy regulations like Europe’ s GDPR and California’ t CCPA are indicative of the influx of government oversight coming to businesses around the world.

Taken together, it’ s very clear that today’ s data surroundings is increasingly challenging to get around.   This is especially true for SMBs  which are disproportionately impacted by data breaches. Based on Accenture,   more than half of all SMBs incurred a data breach during the past year . Unfortunately, 60% associated with SMBs that experienced an information breach will go out of business inside six months.

For SMBs, cybersecurity is really a bottom-line issue, and getting this element right can be the difference between the flourishing business and bankruptcy. Simply by rightly understanding the risk, SMB commanders can take the proper precautions to ensure that their own data is secure.

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