Technology is evolving rapidly, and although this brings exciting new opportunities and innovations, it also means there are new and increasingly complex threats to your online security and protection.

In their 2023-24 report, Microsoft found that their customers received 600 million cyber attacks per day. Taking into account Microsoft’s size and reputation, and the number of Microsoft users, it’s clear to see that cyber attacks are becoming more sophisticated and dangerous.

That’s why companies must understand the importance of cyber security and learn how to invest in cyber security, so their data can remain safe and secure.

However, cyber security maturity develops over time, and this means that not every security issue can be fixed all at once. So, if cyber security hasn’t been implemented from the start, the most effective cyber security investments focus on prioritisation, starting with the highest risks and then planning targeted investments that deliver digital resilience.

In this article, our digital IT service experts will identify the biggest risks poor cyber security poses to business, and explain the important reasoning behind investing in cyber security.

The Risks: Why Companies Should Invest in Cyber Security

Cyber security is the practice of protecting your data from cyber attacks. Cyber security works by safeguarding systems, networks or programs, and depending on the type of cyber security you have, its purpose is to detect, respond and prevent cyber attacks. Without it, attackers could gain access to your and your customers’ data and either extort money, sell information, or disrupt operations.

There are a variety of cyber attacks that can be used to access your data and damage your reputation. In fact, the UK Government found that in 2023-24, 84% of businesses and 83% of charities experienced a breach in security through phishing. Phishing relies on communication platforms such as email or SMS and aims to gain access by manipulating individuals into essentially handing over their devices.

If you’d like to find out more, read our helpful guide on common types of cyber attacks. Or if you’re looking for specific information on how to prevent phishing in a business, we also have an article on that topic.

It’s clear to see why companies should invest in cyber security; it protects confidentiality, supports GDPR compliance, and in the long term, enhances brand reputation and trustworthiness. 

In Hiscox Group’s 2024 Cyber Readiness Report, they found that nearly half of the surveyed companies (47%) that had experienced a data breach found it very challenging to attract new customers.

That’s why it’s essential not to think of cyber security as an afterthought. One of the most crucial and effective principles of data protection is Secure by Design. This policy outlines that data security should be implemented from the very beginning of the system’s lifecycle, from planning to implementation and maintenance.

In turn, cyber security will protect your brand’s reputation immediately, as well as help to avoid financial losses and ensure continual operations, which could all be consequences of not utilising cyber security.

How to Prioritise Cyber Security

Especially for organisations that operate within the UK’s Critical National Infrastructure (CNI), understanding how to prioritise and protect their essential systems is vital. CNI sectors, such as energy, transport, and healthcare, need resilience, so investing in a risk-based approach to cyber security ensures secure operations and aligns with Secure by Design standards.

One of the most popular security principles is NIST’s Cyber Security Framework, as its capabilities span both prevention and reaction, helping to prioritise focusing on the greatest risks. At Net Consulting, we use a similar approach to help clients build a secure foundation.

Let’s take a closer look at NIST’s five stages and their functions, so you can gain a better understanding of the types of cyber security.

Identify

Identify acts as the cyber security strategy; it involves assessing and mapping out your organisation’s systems, assets, data, and capabilities. It’s also an opportunity to discover the cyber risks, allowing the organisation to prioritise essential needs and functions in their risk management strategy.

Protect

Next comes the implementation of the strategy with Protect. This step will safeguard all the identified ‘at risk’ areas, and also includes access control, data security, and maintenance of protective technology, aiding in the defence against potential threats. As a result, resilience and your cyber positioning will be improved. 

Detect

Once the strategy and systems are in place, you’ll be able to monitor and detect cyber threats and malicious activity. The Detect step allows you to stay ahead of cyber attackers and minimise any potential damage, as you can build upon the systems you already have in place to ensure an even tighter cyber security strategy. 

Respond

If you do pick up a threat at the detection phase, then it’s time to respond and take action with a pre-prepared strategy. The function of Respond is to minimise the impact of a cyber security incident and secure the area; it involves clear communication, analysis, and containment procedures to ensure the data breach is eradicated.

Recover

Recover allows you to restore any areas that have been impaired or damaged due to an aggressive cyber attack. This process will ensure the timely recovery of data, systems, and processes, as well as keep your working strategies and systems resilient in the long term. 

How to Invest in Cyber Security

As we can see, cyber security is a big investment, but a highly valuable and worthwhile one. The first step is to partner with a cyber security expert who can help you understand your business’s greatest risks and invest in resources which build resilience.

Cyber security takes time and dedication to get right, and with the negative impacts of not having a cyber security system in place being so detrimental to brand perception, partnering with a trusted provider takes the pressure off you.

One of the most effective ways to invest in cyber security is to install a zero trust network architecture (ZTNA). A secure and accessible ZTNA scales alongside your business while still providing unbeatable multi-layer protection.

How Net Consulting Can Help

At Net Consulting, we’re focused on delivering value by helping organisations invest where it matters most: cyber security prioritisation. We’re committed to long-term partnerships that provide your business with protection, ensure compliance, and prepare you for the future.
Call us on +44 (0)292 097 2020 to discuss your needs in more detail.