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Cybersecurity can be a major business enabler

(Image credit: Image source: Shutterstock/deepadesigns)

Cybersecurity is more than a means of defence – it can also be a significant business enabler, according to new research.

A report by Vodafone which found that 86 per cent of high-growth companies see cybersecurity as an enabler of new business opportunities.

Besides, cybersecurity is perceived as a customer loyalty and trust enhancer and a reputation booster. It can help businesses attract new customers as it becomes a ‘competitive differentiator’.

Pairing IoT with cybersecurity means better ROI, the report also found. Companies who have adopted IoT have seen a 24 per cent increase in financial benefits from having strong cybersecurity.

The biggest problem for businesses is – who to turn to when looking for solutions. More than four in ten (41 per cent) have said to be ‘uncertain about where best to find help in dealing with cyber security challenges’. This rises to 42 per cent in the engineering and construction sector.

The majority of SMBs (60 per cent) feel they are poorly informed about cybersecurity.

“Cyber security has evolved beyond simple protection of the status quo and is being used by companies of all sizes to support and accelerate innovation and growth,” said Vodafone group head of enterprise cyber security strategy & innovation, Andrzej Kawalec. 

“It is giving businesses greater confidence in opening up new markets and introducing new services.  While we are seeing a desire to create cyber ready organisations, companies are not sure about who best can help them.  I believe that the most successful companies will be the ones which design in security from the start and use it as springboard.”

Image source: Shutterstock/deepadesigns