IT Support in Dallas: How Much a Data Breach Can Cost You
Do you need IT support in Dallas? You have a reason to because the COVID-19 pandemic years are the busiest for hackers and cybercriminals, according to IBM, 2021 alone saw the average data breach cost rise to $4.24 million, the highest cost ever recorded since the report was launched 17 years ago.
Data breaches expose confidential information and take up valuable time to remediate, costing businesses big. The IBM report shows credential-related violations take an average of 250 days to detect and 91 days to resolve. When a data breach happens, there is more at stake in addition to the financial impact.
Stained Reputation and Reduced Brand Loyalty
A company must work out a way to respond to a data breach, considering what customers will feel about the impact of receiving the information.
Although many customers will likely consider leaving, businesses can put aftercare and reassurance in place to prevent imminent reputational damage and retain relationships. Companies must think about mitigating further damage. It could be speaking to individual customers and giving them additional information about the breach.
Have something tangible before contacting customers to reassure them. For example, working with IT support professionals in Dallas and informing your customers about it can make them start visualizing the kind of practical steps you are taking to mitigate the risk in the future.
No matter your efforts to contain the situation, reputation and customer loyalty will be dealt a blow. You will lose unhappy customers who will even go the extra mile to rate you lowly on the internet.
A business sack some employees, while others will leave voluntarily due to the headaches involved in resolving the issue. Staff replacement is inevitable, and it might not be easy.
New employees will have to deal with the mess brought about by the incident. Some prospective employees will even reject your job offers because they don’t want to work in organizations with faulty data protection systems.
Businesses facing data breaches have fiduciary obligations to their customers and responsibilities under state laws to protect the personal information they have in their databases.
In the event of a breach, persons whose data has been disclosed may decide to file suits seeking damages. In other instances, the affected business suffers government enforcement actions by the government for failing to have appropriate measures in place to prevent the disclosure of consumer and personal information.
Protecting Your Business from Data Breaches
Since data breaches are more costly today than in the past years, investing in IT can help you mitigate the risk and safeguard the information in your system.
At Technagy, we offer the best IT support services for businesses in Dallas. Contact us today, and let us take the cybersecurity burden off your shoulders so you can have time for other essential business matters.