Whether we’re sending emails or scanning work documents, online working and IT are integral to the modern workplace. The problem is that, since we rely so much on technology, it can be catastrophic when that IT breaks down. Here’s why you need a business continuity plan, and why cybersecurity should feature at the top of your planning agenda.
Why you need a business continuity plan
Whether it’s a major human error, a natural disaster, or an accident, your business could unintentionally come to a standstill. The business continuity plan helps you get back up and running again as quickly as possible. Therefore, a business continuity plan is necessary for every business, no matter what its size.
A business continuity plans helps you:
- Reduce downtime
- Back up your data
- Improve customer loyalty and overall experience
But how does cybersecurity fit into all of this? Let’s take a closer look.
Why cybersecurity matters to your business continuity plan
Put simply, a business continuity plan, without cybersecurity, is only half a plan. A business continuity plan helps you assess your business environment and what threats you’re currently facing. The cybersecurity plan supports this by making it harder for criminals to attack your business. Here are 5 ways that cybersecurity can — and should — be integrated into your business continuity plan.
1: Threats are evolving all the time
From ransomware to phishing scams, attacks are becoming increasingly more sophisticated, and they can bring your business to a standstill. It’s imperative that, as part of your business continuity plan, you budget for upgrades to your security software and hardware protection. If you don’t keep up with evolving cyber threats, your business continuity plan could fail.
2: Reduce downtime with effective cybersecurity
The average business can lose around $100,000 per hour of downtime. For many SMBs, this is too great a loss to come back from. Since cyber attacks and hacking attempts are a leading cause of downtime, insufficient cybersecurity costs your business time, money, and resources.
3: Cybersecurity protects your business data
You don’t want your sensitive business information falling into the wrong hands. Cybersecurity measures, such as encryption or password protection, makes it harder for criminals to access your information. It also makes it less likely that criminals will successfully infiltrate your system and cause downtime in the first place.
4: It improves your reputation
Cybersecurity gives your customers peace of mind, and not just because it shows how seriously you take their personal data. Part of a business continuity plan is keeping in contact with customers, vendors, and employees. Effective cybersecurity makes this possible because it helps you safely store contact information without worrying about it falling into the wrong hands.
5: When cybersecurity fails, the consequences can be grave
It’s not just your reputation that suffers if there’s a cyber attack. If you can’t get your business up and running again quickly, you could fail. In fact, a recent US National Survey Cybersecurity Alliance report showed that 60% of SMBs who suffer cyberattack fail within six months. Even if your business doesn’t fail, you could rack up substantial fines and penalties if a security breach causes you to lose personal data.
With cyber threats evolving all the time, and hackers so frequently targeting SMBs, cybersecurity is more important than ever. Don’t neglect your cybersecurity needs — contact us today to find out more.