What is Enterprise Cybersecurity?
Enterprise cybersecurity is the implementation of practices and principles for protecting company data and resources from cyber threats. Enterprise cybersecurity deals with preventing and mitigating damage from cyberattacks such as ransomware attacks, social engineering, data breaches, and software vulnerabilities.
Consequences of a corporate network security breaches
According to Verizon’s 2023 Data Breach Investigations Report, 74% of all data breaches involve human interaction. IT managers and DevOps teams should seek cybersecurity strategies and risk management solutions to protect their businesses and strengthen their corporate network security. Lack of security measures lead to increased attack surface and cyber threats. As a result, companies may face:
- A damaged reputation. A data breach can cause detrimental harm to your business since customers and stakeholders may no longer want to conduct services with a company that lacks proper enterprise security strategies.
- Financial losses. The average data breach cost was $4.45 million in 2023, according to IBM. A data breach can cost even more depending on variables such as the number of compromised user accounts and expenses from legal ramifications.
- Compromised data. Data leaks can lead to stolen or compromised data. Cybercriminals may sell your stolen credentials and other digital assets on the dark web.
- Regulatory Audit. If the breach is significant enough, there is the possibility that the impacted organization may be faced with regulatory scrutiny and potential files if it is determined that the organization has been non-compliant.