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Why Is Network Security Important?

Deck: The right network security will protect your data, save you from business disruptions, and give you peace of mind

Key takeaways: What kind of threats do cyber-breaches pose to my business? What measures are needed to protect the integrity of a network? How does implementing network security protections save money? Will network security measures interfere with the smooth running of business operations?

Harvard Business Review reports a whopping 20% increase in data breaches from 2022 to 2023. Network security is absolutely critical. No matter your industry, a cyber-breach can cost millions in damage mitigation services, legal fees, and fines.

The situation is urgent, as Harvard Business Review points out:

“For many years, organizations have struggled to protect themselves from cyberattacks: companies, universities, and government agencies have expended enormous resources to secure themselves. But despite those efforts, data breaches — in which hackers steal personal data — continue to increase year-on-year.”

Network security is designed to protect your business I.T. using a proactive, preventive approach. With the right anti-malware software, firewalls, hardware, and managed services partner, you can enhance your network security and improve your overall business I.T. architecture.

What is network security?

Network security involves the measures you take to “protect the usability and integrity of your network and data.” It is a broad term for a wide range of information technology processes and devices. 

Some aspects covered by network security include:

  • Email security
  • Firewalls
  • Network segmentation
  • Anti-virus and anti-malware software
  • Application security
  • Access control
  • Data loss prevention
  • Mobile device security
  • VPNs

Proper network security precautions help ensure that unauthorized users cannot access and steal from your networks.

5 Reasons why network security is important

While no network is completely immune from cyberattacks, an efficient network security strategy implemented by an experienced managed I.T. services company can best protect your business data. This can include sensitive personal information, business intelligence, and proprietary processes. With good network security, you can avoid the loss of money and reputation that comes with unauthorized access to your system.

Here are the top five reasons why network security is important for any business:

1. Network security provides data protection for both you and your clients

Business owners have a lot of sensitive data that requires protection. If your business marketing materials, financial information, and inventory data get into the wrong hands, you may lose your competitive advantage. You may also lose actual funds from your personal and business accounts if your financial information was leaked during the data breach.

Sensitive client information — such as medical or accounting records — is also at risk of violation. A data loss prevention (DLP) strategy and tools can help detect and prevent any unauthorized sharing, transmission, or loss of sensitive information. If someone tries to move, share, or transmit data outside your secure network, your DLP system can block the attempt and alert administrators.

2. Network security improves I.T. reliability

Network security is a layered defense strategy that incorporates a combination of security controls and policies. These security measures include things like firewalls, intrusion prevention devices, segmented networks, and much more.

A possible drawback of these tools is that they can interfere with your employees’ day-to-day operations. This is why you need experienced cybersecurity professionals to help you select the appropriate tools to ensure your business operations won’t be disrupted in the name of security or your network slowed down. At the same time, they can provide necessary protections.

3. Network security will save you money in the long run

A 2023 IBM Data Breach Report points out that the global average data breach cost in 2023 was $4.45 million, a 15% increase over three years. It also estimates that organizations that use the latest security measures will save about $1.76 million compared to organizations that don’t.

A data breach can be costly, with legal fees, fines, restitution, and, in some cases, money lost to ransomware attacks. Proper network security can help prevent these expenses and money losses. Yes, comprehensive network security provided by a managed service provider may seem like an expense now, but it will pay for itself in the long run. It can minimize expenses related to a security breach and prevent the damage to your reputation caused by an unauthorized incursion.

Protection from ransomware attacks is a particular concern for many companies. According to some estimates, these attacks are up 68%. This cyberattack involves a hacker taking control of some or all of your networks and installing a program to encrypt all your data, rendering it inaccessible. The hackers will demand payment for releasing your data, which they may or may not make good on after you pay them.

4. Network security helps you meet regulatory standards

Businesses in specific industries are required to meet regulatory standards for data protection. For example, if you run a healthcare facility, your business must meet HIPAA standards in all areas, including network security requirements.

The Sarbanes Oxley Act (SOX) requires public companies with registered equity or debt securities within the U.S. Securities and Exchange Commission (SEC) to have protections against financial fraud, among other requirements.

Meeting regulatory standards can often be confusing and overwhelming. Trying to do it without the help of a trusted cybersecurity professional may mean spending more than you need on protection that really isn’t sufficient for your industry.

5. Network security prevents disruption to your business

Network security tools such as firewalls prevent different types of unauthorized access. One example is a distributed denial of service (DDoS) attack, in which several attackers manipulate network requests to clog up your networks. A DDoS protection utility can help protect your systems from these attacks.

Anti-virus and anti-malware software can help detect and eradicate malicious programs such as worms, Trojans, spyware, and adware. Newer solutions like multi-factor authentication and zero-trust networks enhance the comprehensiveness of your network security efforts. The point is that every time your network security prevents an attack that can disrupt and harm your business, you save time, money, and aggravation.

Let Attentus help with your network security today

So why is network security important? It provides data protection for both you and your clients. It also enhances your cybersecurity and I.T. performance, saving time and money and helping you meet compliance standards.

If you want expert and proven help with your network security, contact us at Attentus Technologies for a free consultation.  

As the leading provider of managed I.T. services in Bellevue and Seattle — with services provided across Washington State — we are uniquely positioned to conduct an information security analysis of your business. We can ensure you have the tools to protect your important data. Having the right network security is all about peace of mind.