how to use data room software to leverage your due diligence team

You might think of real estate, stocks or the most up-to-date tech startups when you think of smart investments. However, there’s another kind of investment that provides both in the short and long term: cybersecurity. This investment is essential to safeguard businesses from costly cyberattacks, and it helps them avoid costly fines and losing the trust of their customers.

As digital transformation transforms business operations, companies are creating, manipulating and storing an ever-growing amount data that requires effective management across complex computing environments. These environments frequently span cloud as well as enterprise data centers and many connected devices such as Internet of Things sensors and robots. This increased complexity creates a more threatening attack surface which makes it more difficult to safeguard critical information from loss and compromise.

In addition to the financial consequences of data breaches, they can also harm a company’s reputation and lead to long-term sales losses. A recent study found that the average cost of the data breach is $4 million – an impact that is difficult for any organization to absorb. Additionally, regulations such as the California Consumer Privacy Act and the General Data Protection Regulation impose heavy penalties on businesses that fail to meet the strict security requirements.

In today’s booming economy, a strong cybersecurity posture is vital to growth. A pound of prevention is worth a pound cure, and it’s more cost-effective to invest in preventative measures instead of having to pay for cleanup and recovery following an incident. By implementing the right tools and technologies, companies can ensure that their information is secure while in transit, at rest and even in the middle. This means implementing encryption, focusing the human firewall, and conducting regular deep-checks.