While protecting your most important company data and reputation is beyond question, why do many organisations still struggle to meet cybersecurity standards?
There are multiple reasons behind this issue – let’s explore some of the most common ones.
Reasons Businesses Fall Short on Cybersecurity
Underestimating cyber threats
Many organisations underestimate the severity and complexity of cyber threats, often believing they are unlikely targets or that basic measures are enough for protection. This misjudgment leads to insufficient investment in advanced security technologies and expertise, leaving vulnerabilities exposed.
Inconsistent prioritisation
Some companies fail to recognise cybersecurity as a strategic necessity, often treating it as a secondary concern rather than integrating it into core business operations. This oversight stems from competing priorities, limited budgets, and an underestimation of cyber risks. As a result, critical systems remain underprotected, and resources are misallocated.
Insufficient employee training
Human error is a leading cause of cybersecurity incidents, with untrained employees being particularly vulnerable to phishing scams, weak password practices, and mishandling sensitive data. Studies show that 95% of cybersecurity threats are linked to human error. Despite this, many businesses neglect to provide regular training or awareness programmes for employees, leaving them ill-equipped to recognise and respond to cyber threats effectively.
Outdated software and systems
Failure to update software regularly creates exploitable vulnerabilities that hackers actively target, posing risks to organisations. Unpatched software contains known security weaknesses that attackers can use to gain unauthorised access, execute malicious code, or disrupt operations.
Preparing Against Cyber Threats
The SME Cyber Security Behaviour Tracker 2024 found that while most small and medium-sized enterprises (SMEs) in New Zealand recognise the importance of cybersecurity, many remain inadequately equipped to handle cyber threats.
Here are practical measures that any organisation can implement to enhance cybersecurity defences and safeguard critical data and systems against cyberattacks.
Implement Multi-Factor Authentication (MFA)
Multi-factor authentication adds an additional layer of security by requiring users to provide two or more forms of identification before accessing systems or data. This reduces the risk of unauthorised access, even if passwords are compromised, and is particularly effective against phishing attempts.
Encrypt sensitive data
Data encryption ensures that sensitive information remains secure, even if it is intercepted during transmission or accessed during a breach. Encryption converts data into unreadable formats unless accessed with specific decryption keys, safeguarding critical financial, personal, and organisational information.
Backup your data
Daily backups of important business data are vital for recovery in case of ransomware attacks or system failures. Storing these backups offsite or in secure cloud environments ensures accessibility even during catastrophic events.
Adopt Perimeter Defences
Firewalls and antivirus software help block malicious domains and detect malware before it infiltrates systems. These tools act as the first line of defence against external threats, reducing the likelihood of successful attacks.
Underestimating the importance of cybersecurity invites severe repercussions. While the chance of an attack may appear remote, compromising sensitive customer information could irreparably damage credibility and stability.