September - 2015 - issue > In My Opinion
Strong Cyber Security is Paramount to Maintaining Customer Trust
Rajat Mohanty, CEO & Co-Founder, Paladion Networks
Cyber Security Threats are Rampant
There is widespread misconception that prioritizing web security is only a relevant concern for large corporations that operate in the public eye, and this leads many businesses to under appreciate the importance of investing in strong cyber protection. With findings from a report released by the Ponemon Institute – an industry leader in researching data privacy – revealing that a whopping 43 percent of companies experienced a data breach last year alone, customers of medium and small companies are asking their service providers what measures they are taking to protect their personal and financial data.
With the growing threat landscape, it's never been more critical for businesses to invest in an information security that protects customer data from the latest cyber threats. All it takes is one major security breach for your customers to lose faith in your business, and this damage to acompany's reputation can be irreparable. In addition to the financial losses that you are likely to endure due to the breach itself, there will inevitably be negative long-term ramifications to your organization's bottom line.
Poor Planning is to Blame
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