The use of digital technology
The use of digital technology has made organizations and businesses vulnerable to attacks by anonymous individuals in the online web. Cyber attacks on companies take place through various attack surface, which enormous loopholes for the attackers. The effects of cybersecurity have caused the enterprise to experience a fall in financial value and have led to the loss of confidential information. Cybersecurity has a wide range of effects on a company that requires policymakers to have proper information governance.
Companies all over the world have embraced the use of technology to help improve organizational performance. However, they have also realized that these technological systems form loopholes for enhancing cyber-attacks. I have experienced companies having a huge burden of economic cost due to issues of cybersecurity. Attackers do use attack surfaces such as websites and servers to access a company’s corporate information and financial information. Mostly, I have experience in hacking activities that leads to a company losing high amounts of money. Also, when attackers get financial statements, they can take the bank details and other information, which helps them transfer the cash into different accounts, thereby affecting the performance of the business. Besides, for companies that carry out online marketing, the attackers cause a disruption in trading that leads to the difficulty of carrying online transactions. This situation can significantly affect a company’s performance by causing customer frustrations and loss of revenue.
Different companies also have various customers depending on the type of products and services they offer. But the menace of cybersecurity can change this factor within no time. Cybersecurity issues can damage the reputation of the business and shun away customers. Hackers are sharp individuals; hence they can use their knowledge to tamper with customer information they find within the company’s database leading to fear and a bad reputation. I have experienced situations whereby individuals receive messages from anonymous sources. These can be efforts of cyber attackers who retrieve customer information such as usernames and confront individuals in the online media. Also, due to disruptions in trade, customers tend to lose faith in a particular organization, which eventually leads to loss of customers, sales, and a decrease in the company’s profits. This situation occurs in real life when customers boycott the services and products of a company. Some conditions do occur where business partners, investors, and shareholders lose interest in the business, which results in the collapse of the industry.
Companies do contain various data regarding its operations; thus a security breach can be a massive blow to the confidentiality of documents and files stored online. Therefore, a company should work towards providing adequate security to the staff information, customer information, financial records, and other materials that are useful for future reference. A slight breach of information is enough to land company managers into problems such as facing fines and regulatory sanctions. Therefore it significantly improves safety and protection within a company database.
Cybersecurity issues can significantly affect a company’s performance, eventually leading to its collapse. Attackers use various attack surfaces such as websites and servers to gain corporate information. Cyber attacks causes economic deterioration due to loss of funds and customers. Also, it creates a bad reputation among customers and loss of confidential files and documents. Therefore, policymakers need to take adequate measures in addressing issues of cybersecurity to prevent the problems that can hinder the organization’s performance.