Technology has permeated every facet of the business world, including daily operations, sales, manufacturing, marketing, banking and finances, customer acquisition, customer service, and direct communication with clients and vendors. As our reliance on technology increases, so does the threat of data breaches and dangerous hackers looking to steal valuable data and gain access to sensitive information.

Too often, businesses are utterly dependent on technology for running their business, but don't take the steps to protect their company computers and networks from threats that could cripple their business. In today's Aegis blog post, we discuss three reasons why protecting company networks should be a top priority for all business owners.

Loss of Customers and Their Trust

Businesses of all industries rely on technology, from restaurants, retail shops, auto repair shops, contractors, attorneys, and even farmers and ranchers. When consumers buy a product or pay for a service, they do so with the expectation that their purchase is a private transaction between them and that business. When hackers or thieves access sales or customer data, it can lead to the loss of customer trust, which is extremely difficult to win back. Consumers would rather shop at a different store or choose a different service provider than risk having their personal and financial data compromised. Your customers should be able to have peace of mind that the details of their transaction with your business is secure, and their financial information or personal data will not be compromised or stolen.

Loss of Revenue and Financial Security

Data breaches and networks hacks can result in a massive decline in revenue for companies for several reasons: the loss of customers, the cost of restoring breached data, paying for credit monitoring services for impacted customers, and potential lawsuits that may stem from the data breach. The financial hits from a single data breach can be too great for some companies to overcome.

Loss of Productivity and Company Secrets

Finally, when business networks are hacked by criminals or thieves, it can be detrimental to company productivity and security. Hackers can make business slow to a crawl by interfering with email networks, company websites, financial software and equipment, specialized machinery, or phone and communication systems. In addition, hackers may also steal trade secrets in an act of corporate espionage.

Technology is a vital part of how many businesses are run, and it should be protected and guarded just like a commercial vehicle, company laptop, or other important asset. In addition to securing your computer networks and equipment, another way to protect your company is to have Commercial Insurance that covers data breaches and hacks. Cyber Liability Insurance offers companies protection to help offset the devastating impact from a hacker or data breach on a company's finances and reputation. Contact Aegis today at 713-850-7622 for more information, or fill out our online form for a free quote!