Data security is of major concern to companies and their stakeholders. The good thing is that data privacy laws are already in place to help prevent malicious or reckless use of data collected by companies. However, the most significant danger most companies face is the constant exponential advancement of technology. Each year witnesses the introduction of new technologies, which create opportunities for both growth and destruction. Cybersecurity has never been more important to companies than it is now and in the years to come. But there are a number of challenges for SMEs looking to stay compliant. 

1. Shortage of cybersecurity experts 

Professionals in the cybersecurity industry have reported that the number of skilled individuals in this area is dwindling. The reason may be due to the rapid growth of cyber technology, which makes it quite challenging to keep up with the advancements and to determine points of weakness before they pose a major threat. This trend is likely to perpetuate in the coming years because technology will only keep advancing. Therefore, investing in cybersecurity has never been more crucial. If you delay in this area, you may find yourself in desperate need of being rescued following a severe threat but without the resources on hand. 

2. Competition 

Organisations that value their existence in the digital age need to invest in themselves and the cybersecurity firms that manage their data. Cybersecurity firms are competing with each other to provide the best solutions for their clients. Consequently, they find themselves working together to develop better and more robust security solutions for their clients. 

Data security is the secret for growth and development in the modern world. When your company’s critical data is secure, you’ll be able to focus on its advancement. Hence, any company that values its success ought to pay special attention to its cybersecurity. Organisations need to ensure that they are working with reliable and trusted experts in the industry. 

3. Data regulation acts 

As data security becomes more important, governments are increasingly introducing measures designed to control the gathering, storage and usage of data by companies. Clients need to be able to trust that their data will be safe. This means a constant challenge for companies to stay certified and compliant with established data regulations acts like GDPR as proof that it abides by cybersecurity best practice. 

Cybersecurity is a significant concern for all businesses today, though the challenges to stay compliant are only increasing by the day. Thankfully, CyberSmart can help. Protect your client data – and your business – in one simple step with the cyber essentials certificationplan and reduce your risk by 98.5%. Find out more today.