damages-caused-by-data-breaches

The Damages Caused By Data Breaches

PC Network Solutions Network Security

When it comes to computer network support, a data breach is one of the least desirable outcomes. A business that suffers an untimely data breach can take years to recover (if at all) and the costs of these data breaches can also keep a business from having a chance to reach its full potential.

According to research, the average cost of a data breach is nearly $4 million, while costs can rise as high as $30 million. The damages caused by data breaches are far reaching and without the help of a proper computer network support system, a business is at risk of experiencing these types of leaks on a consistent, regular basis.

While a bigger business may have the means to weather these attacks and keep their computer support on track, a data breach can essentially destroy a smaller business that has not had a chance to get on track. The idea of shaking off a data breach as if nothing has happened at all might be standard operating practice for all of the big name companies, but for businesses that are trying to gain a foothold in the marketplace, they are a nightmare come to life.

Not only does the business experience a financial hit, they will also take a hit from a public relations standpoint. The modern customer expects a business to have the proper computer support in place and when a data breach takes place, this often causes fearful feelings among the client base, as they begin to fret about a potential release of their most private information.

This directly leads to poor word of mouth, which then causes a further loss of revenue. There are also a number of hidden fees that do not immediately present themselves. Business outage costs, digital investigation fees, infrastructure repair and crisis communication payments must also be considered when contemplating the damages that are caused by untimely data breaches.

Damage is also done to third parties whose information is released against their will and the business will typically be forced to pay a much insurance premium as a result of the breach. If staff login details are released, the company is also tasked with spending a great deal of time and effort on changing all of these credentials and re-configuring all of their servers in hopes of avoiding a repeat incident.

Businesses that do not provide themselves with the proper support are risking a data breach with each day that passes. While some of the big name companies may have the resources and connections to minimize the damages when they take place, the vast majority of businesses are woefully unprepared for the consequences of a data breach and should protect themselves at all costs.