The Future of Cybersecurity: What C-Level Executives Need to Know

While we all have a vague idea of the importance of cybersecurity, the vast majority of businesses fail to maintain standard computer updates.. When looking at the future of cybersecurity, there’s more to it than just updates. Companies need everything from secure cloud storage to secure physical spaces where information gets stored.

 

Here are four things for CEOs to think about when it comes to the future of cybersecurity.

1. Protect The Company’s Reputation

One of the most important things for any company is how they’re viewed by consumers for their products and services. A damaged reputation can be the downfall of any small to medium-sized businesses, and extremely impactful to large corporations. Cyber attacks have become so organized and sophisticated that they happen in ways that might operate under the radar for some time.

 

Brand reputation is vital to building the ever-important trust dynamic that dictates customer interaction. When companies are unaware of customer sentiment, they risk poor public relations. Hacktivists, cybercriminals, and amateur hackers of all stripes take aim at corporations on a regular basis. The speed at which a story can go viral means that it’s time for protection from a poor public perception. One employee making an egregious mistake could become synonymous with a company’s name. 

 

Just look at what happened to United in 2017.

 

CEOs should seek to prioritize reputation protection in the future. Their own reputation, as well as the reputation of their company, could come under fire at any moment. The best thing to do is to have a plan in place in case anything happens.

2. Security Stumbling Blocks Will Happen

As technology outpaces the public’s ability to properly adopt and understand it, businesses are constantly playing catchup. All of the methods of risk management that a company’s currently using are often obsolete in a matter of 5-10 years. If a company’s currently using any practices or tools that are more than ten years old, they could run the risk of being an easy target.

 

An enterprise will be at risk for trouble every time they adopt a new piece of technology or a new method for doing business. However, it’s essential that companies stay on top of trends if they wish to remain competitive. This catch-22 means that every company is going to have to make some mistakes in staying secure.

 

The main thing to be aware of is how companies profile each risk. If companies have customer or client data on-hand or accessible through a network, it needs as much protection as possible. The next priority lies within internal communications and project designs.

 

If breached,  companies risk client retention.

3. Secure The Company’s Supply Chain

One of the main ways that every company fails to maintain the proper level of security is in the supply chain. Information security needs to contain extra layers at the level of the supply chain – it’s a gateway to the economy. The backbone of what makes globalization is in how things are supplied, and disruptions now have bigger impacts than ever.

 

CEOs who aren’t aware of this impact are simply behind the times. Supply chains harbor many risk factors, and disruptions have ramifications that trickle all the way down to the consumer. The integration of technology with supply chains makes them more robust and efficient than ever but also opens them up to new vulnerabilities.

When companies are proactive about protecting their supply chain, they’re ensuring that every device sending and receiving data is secure. Preliminary measures are used to stop attackers before they’re able to access the network. Potential scenarios are also tested to identify weak points, and make security patches to increase the level of security.

 

A company’s financial health, competitiveness, and share price all rely on their supply chain. Companies must stay secure to avoid risk to their supply chain.

4. Invest in Cybersecurity Training

While many companies have security awareness training programs, they often lack consistent development. The reason that more companies don’t invest more of their money in training is that they don’t see an immediate return. However, they’re sure to look for someone to blame when they’re hit with  a security breach.

 

The problem often lies within the initial lack of investment in proper training.  It’s imperative to success that everyone at a company has a deep understanding of how their behavior impacts network security.

 

Everyone from C-level executives to entry-level positions should be aware of how their behavior can improve cybersecurity. Each team member is going to have a specific skillset, and there’s no guarantee that each member will have a complete understanding of the technology being used and how to keep it safe.

 

While regulators have helped by introducing stricter demands on CEOs and their team members, there’s often room for improvements in cybersecurity training.

The Future of Cybersecurity is Here

Cybersecurity ensures that a company maintains its status as a leader of their industry and doesn’t stumble due to negligence. The future of cybersecurity is now, and active measures should be taken to prevent outside threats.

 

For high-level CEOs interested in what’s happening in cyber crimes, our guide is the place for tips. 

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