The number of cyber attacks on British firms is growing at an alarming rate. Daily attacks are common, and almost half of UK businesses have suffered a breach or attack in the past year, according to the Department for Digital, Culture, Media and Sports (DCMS).
E-commerce and Data
E-commerce is growing and so becomes a target. From the comfort of an operator chair, e-commerce transactions have grown to approximately 27% of total retail sales over the year. With virtually all businesses now having some form of online presence, cybersecurity is going to become ever more important.
Over time, companies have become better at protecting their data as the attacks become ever more sophisticated. As these companies increase their resilience, however, these attacks are still costly, costing a business up to $3.26 million per incident, according to data provider Vacancysoft. For anyone sitting in the operator chair, these losses can greatly affect any company. The damage to reputation and trust between the customer and company can severely affect the competitiveness of that company.
In a rapidly evolving digital world, cybersecurity goes hand in hand with e-commerce sites as they seek to keep their consumers’ personal information secure and private. The consequences can be bad: a report from global recruiter Robert Walters says up to half of customers will stop purchasing from companies that have suffered a breach. Attacks on large businesses have increased by up to 113% and on smaller companies by up to 17 %.
Awareness and Improvements
To remain compliant with General Data Protection Regulation (GDPR), businesses are now seeking out more information to get guidance and help to become more cybersecurity aware. Improvements can be made in the workplace too. Anyone can select an operator chair here to sit in comfort at a desk. Employee training can help them plan for attacks, and contacting consultants to advise on awareness can help to make changes in addressing the issue of cyber attacks.
Regardless of size, all businesses are at risk. To have their cyber security compromised leaves them open to further attacks and puts their business in danger. Companies can protect themselves, their equipment, intellectual property and information by ensuring their software is up to date. While cyber attacks are likely to keep increasing, companies can deflect these by increasing their own resilience and capabilities.