When you think about intelligent investments, you may think of real estate, stocks or the newest technology startups. However, there’s another kind of investment that provides both immediate and long-term benefits: cybersecurity. This investment is essential to safeguard businesses from costly cyberattacks, and it helps to avoid costly fines as well as losing the trust of their customers.

As digital transformation transforms business operations, businesses are creating data, manipulating and storing an ever-growing volume of data that needs to be efficiently managed across complex computing environments. These environments include cloud data centres, enterprise data centres, and a myriad of connected devices such as Internet of Things sensors and robotics. This added complexity how to use data room software to leverage your due diligence team creates a more threatening attack surface, making it harder to protect critical data from loss or compromise.

In addition to the financial consequences of data breaches, they can also affect a company’s image and cause long-term sales losses. Recent research found that the cost for an incident involving data was $4 million. This is an enormous impact on any company. In addition, regulations such as the California Consumer Privacy Act and the General Data Protection Regulation impose heavy penalties on businesses that don’t meet strict security standards.

In today’s competitive economy security is a must. is essential to achieving growth. A one pound of prevention is worth a pound cure, and it’s far more cost-effective to invest in preventative measures instead of the cost of cleaning up and recovering following an incident. By implementing the proper tools and technologies, companies can ensure that their data is safe in transit, in the middle and in between by implementing encryption by making sure that the human firewall is in place and regularly conducting deep checks.