Whether for enterprises or small businesses, companies are investing in online network technologies like smartphone apps and websites to deploy their services. The decision matches the behavioural trends of consumers; with smartphones and mobile data becoming a staple of the everyday life of Australians, businesses are only making the right business decision of meeting citizen demand.
The digital migration, however, comes with risks. Sensitive data and information are now uploaded online, which means that data is now accessible. Vulnerable servers are prime targets of cybercriminals, and these criminals employ different strategies to unlock information and use it for their gain. In severe cases of cyber-crime, companies may suffer bankruptcy and receive lawsuits.
Tracing the harmful effects of cybercrime means making a case for cybersecurity. Businesses need to maintain the safety and integrity of their services, both for them and for customers, and investing in online security solutions is a way to ensure that hackers and criminals cannot compromise their operations.
Increasing Reliance on Online Network Technologies
The prevalence of online network technologies underscores the need for companies to invest in cybersecurity. More and more services are migrating online to address the need for convenience and accessibility, including everyday transactions such as ordering food for delivery and paying house bills.
Previous services and transactions that required the physical presence of customers are now resorting to online counterparts. Banking, for example, can now be done from the comforts of one’s smartphone. Whereas one would need to physically line up in a queue at the bank before, transferring sizable amounts of money is now possible at home from the bank’s mobile app.
Because multiple services and applications are now compatible online, businesses need to ensure that their services can provide safe transaction points for their customers. If cybercriminals can hack and infiltrate these systems, both customers and companies can suffer detrimental financial losses, which can compromise the convenience and accessibility that these services aimed to provide.
The Costs of Network Failure
Unprotected networks are susceptible to threats such as distributed denial of service (DDoS) attacks or malware. These threats can disrupt the flow of operations, and in more severe cases, these can lead to crashes and system failure.
When networks fail, companies are unable to deploy their online operations successfully. Each minute of downtime is costly, especially for high-traffic sites like banks and security services. If the company starts building its reputation as unreliable in these everyday transactions, then some customers may choose to pull out, causing the company to lose clients.
Curbing the harmful effects of network failure involves not only well-prepared security responses but also the implementation of preventive measures. Network testing and simulating high-traffic conditions are methods that help ensure a system that can handle tough network situations. Network testing provider Matrium Technologies says that recent technological innovations utilise predictive analytics and virtual test environments to ensure that networks are well-equipped to deal with the evolving nature and complexity of cyber-attacks.
The current utilisation of online network technologies and the costly risks of having these systems fail present the ideal opportunity to highlight the importance of cyber security solutions. Companies transitioning to an online deployment of their service are correct in taking advantage of the current market situation, but they need to ensure that this migration does not compromise their finances and reputation.