Besides the cost and lost productivity that we’ve mentioned in past blog posts, there’s a less obvious consequence from cyber-attacks… your company’s reputation. You’ve probably worked for years to build a solid image and reputable brand. And even though it may not show up on a balance sheet, it’s a key component to your success.
Here are a few ways in which a company’s reputation is affected by a cyber-crime:
- Current customers lose confidence in your ability to mitigate another breach and may begin to question their loyalty to your business.
- Potential customers may immediately rule you out as a partner.
- Employees question the management or leadership’s competence if the situation isn’t handled quickly and efficiently; frustrations mount the longer they’re ‘left in the dark’ and work doesn’t get back to normal.
- Vendors may seek other partners, wondering if (or when) it will happen again.
- Competitors notice the weakness and capitalize on the competitive advantage they now have.
And don’t be fooled into thinking that cyber criminals will overlook you because you’re a start-up or located in a rural area or part of lesser-known industry. If you have data – and every business does – you’re a target for them.
If you have questions about your company’s security, contact us today. We’ll be glad to begin the conversation with you!