Essential Role of Cybersecurity Norms in Today's Digital Age
In today's digital age, small and medium-sized enterprises (SMEs) are increasingly becoming targets for cyber attacks. Hackers often view SMEs as a lucrative source of illegitimate revenue, and the threat posed to these businesses can reach an existential crisis level.
Fortunately, adopting cybersecurity standards can provide a robust defense against these threats. By following established standards such as ISO 27001 for information security management, the IEC 62443 series for industrial cybersecurity, and implementing measures outlined in the NIS2 directive national implementation laws, SMEs can significantly strengthen their cybersecurity posture.
Adhering to these standards offers numerous benefits. For instance, it can help SMEs understand their specific needs and select appropriate solutions and technologies. A standard-based approach can also establish a future framework for security decisions, ensuring a long-term approach to cybersecurity.
Moreover, compliance with a specific set of cybersecurity standards or certifications can increase a business's credibility with stakeholders, insurance providers, potential clients, and partners. It demonstrates a commitment to maintaining a high level of security, which is essential in today's data-driven business environment.
The adoption of standards can also lead to better spending decisions in cybersecurity. By structuring their approach to cybersecurity, SMEs can allocate resources more effectively, ensuring that they are investing in the right solutions to protect their businesses.
Furthermore, adopting standards can help create a security-focused culture within an organization. This education of all employees regarding current and future cyber threats is crucial in fostering a proactive approach to cybersecurity.
It is also worth noting that the cost of meeting a cybersecurity standard is far less expensive than developing an in-house security operations center from scratch. The finance department often favors an approach that focuses on identifying and addressing risks in a cost-effective manner.
Sadly, 60% of SMEs close their doors six months following a successful breach. The high risk of closure after a breach underscores the vital importance of cybersecurity standards for SMEs. By adopting these standards, SMEs can not only prevent attacks but also ensure an effective response if one occurs.
In conclusion, the ultimate value of adopting a cybersecurity standard lies in its ability to prevent attacks and ensure an effective response if one occurs. For SMEs, this is more than just a smart business decision—it is a matter of survival in the digital age.
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