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Understanding the Importance of Network Security for Your Business

Understanding the Importance of Network Security for Your Business

Businesses today rely on technology more than ever before. The increased reliance has put more and more of our sensitive data on the internet, which becomes a security risk if it falls into the wrong hands. We need to secure every aspect of our online information now more than ever. Let’s take a look at the reasons why network security grows in importance for your business every day.

What is Network Security?

Network security happens whenever you take preventative measures to stop cybercriminals from targeting your business. You protect the underlying infrastructure of your network from misuse, unauthorized access, modification, malfunction or improper disclosure. IT experts will use a variety of techniques to lock your network and ensure that hackers can’t get inside your network.

Again, we need to remember that no network, even the most secure, will ever be 100 percent safe. Even the biggest companies in the United States have suffered cyber attacks, but small businesses need to pay attention to network security as well, or they could become a target.

Working over the Internet: Why Network Security Matters

Whenever you work over the internet, network security keeps the data of your clients safe. No network will ever be 100 percent safe, but let’s say that your client data was leaked due to hackers. Not only might this expose you to costly potential HIPAA fines, but it would damage your business reputation. No client wants to do business with a company that doesn’t take security seriously.

Network security keeps your workstations free from spyware that could wreak havoc on your business. Most IT security experts will provide you with multiple layers of protection on the network. In that way, even if the hackers can bypass one of your layers of security, they will struggle to get past the others.

The layers of security encrypt various parts of the information and transmit them over to independent paths. This precaution prevents hackers from eavesdropping on your network.

Connecting to the Internet Creates Instability

Whenever you connect to the internet, it creates the potential for huge amounts of traffic. While that large amount of traffic can generate extra leads and income for you, it creates the potential for vulnerabilities due to instability. With good network security, you prevent this from ever happening.

Large amounts of traffic can increase your lag and downtime, which can send the customers in the other direction. You can use network security as a way to monitor what happens on your network and prevent sabotage from hackers.

How Can Hackers Impact Your Business?

Someone who hacks your company could put you out of business. Vandalism of the network is a big concern. For example, hackers occasionally plant misleading information on the system. They do this purposely so that customers will question your integrity and choose someone else.

Hackers who can break into your network can damage your intellectual property. For example, once they access your network, they can steal plans, blueprints and ideas. In some cases, this could stop you from implementing a new product design or idea that would have generated thousands of dollars for your company. That could leave your business stagnant and withering.

Due to network hacking, your business could lose revenue. Most of the time, when hackers attack a network, they attempt to crash it. This forces you to cease potential transactions and give up revenue. The longer your network is not functioning, the more potential revenue you lose.

Educate Your Employees

You must educate all your employees about the best cybersecurity practices because your business will only be as strong as your weakest link. Most often when cyber attacks succeed, it happens because of an employee that accidentally lets them in. For that reason, you must train them and encourage them to follow all the security practices to keep your network safe.

Hackers use a variety of methods to access networks. You must think even above and beyond simple security methods.

What are the Different Types of Network Security

You can handle this yourself, but you may find it beneficial to hire a managed IT company like PCH Technologies to handle cybersecurity for you. Things that we can implement to protect your network from hackers include:

  • Firewalls
  • Access control
  • Antivirus software
  • Web security
  • Email security
  • Virtual private network (VPN)

All of this works together to provide a coherent network security plan that stops hackers from bringing their muddy shoes into your business. You could implement it yourself, but it can be quite the juggling act, and if anything goes wrong, it helps to have an expert on hand who knows how to navigate it.

Follow the Privacy Laws and Regulations

Businesses in specific industries may only be allowed to run if they follow specific privacy laws and regulations. Private equity firms and financial institutions must follow the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). Failure to comply can lead to hefty fines.

In some cases, data breaches are made worse because they tack on extra fines that can put you out of business. The Blue Cross Blue Shield, for example, had to pay a $1.5 million fine when it violated the Health Insurance Privacy and Accountability Act. Premera Blue Cross had to pay $6.9 million for a data breach. It can get expensive fast if you don’t follow the best network security measures, and it pays to hire IT security experts.

Final Thoughts

Network security matters, and if you don’t follow it properly, your business could collapse into bankruptcy. If you’d like to learn more about network security, call PCH Technologies at (856) 754-7500. We have the knowledge and experts who can provide dependable cyber security that will keep hackers from getting into your network and destroying a business that you fought so hard to build.