How Viruses and Malware Hurt Your Company Profits
Identifying and confronting risks head-on is an inevitable but crucial part of being a business owner. Maintaining stable and consistent operations demands that you protect your IT from malware, viruses, and other cybersecurity threats. Recent malware attack trends show that they have become common and affect businesses across all sectors.
It’s taken time, effort, and resources to build your business to what it is today. It is frightening to think that all it can take to bring down your hard work is a simple malicious software infection.
Your best chance at staying ahead of attackers is to be informed, which is why we cover how malware can hurt your profitability and what you can do about it.
How Malware Attacks Can Hurt Your Profits
Disrupt Business Operations
Malware attacks are vicious, malicious software infections that can halt your operations and bring your business to a standstill. Cybercriminals can achieve this in multiple ways. Primarily, they would infect your system with malicious software and hijack it, preventing you from serving your customers. Alternatively, they can modify crucial data to cause havoc to your system. Halted operations mean you’re not generating revenues, translating to reduced profitability.
All businesses, whether large or small, regulated or not, are subject to the legal duty of protecting user data – customers, employees, etc. Hackers utilize malicious software to gain access to or compromise such data. Such breaches could cost you hundreds to thousands of dollars in lawsuits depending on the damage caused.
Loss of Customers
Malware attacks also involve irrecoverable damage to your brand image and loss of confidence from your stakeholders. A typical attack is perceived as a failure on your side to protect critical data and systems, and this can reflect poorly on you. You can risk losing current and prospective clients from such reputational damage. In addition, your employees, investors, partners, and other stakeholders can lose confidence in you. This can result in a trend of reduced revenues, canceled contracts, investors pulling out, and more.
The financial consequences of malware attacks extend beyond halting operations. It also comes from data recovery efforts, legal penalties, loss of customers, investigation costs, etc. On average, a company may spend about USD 3.86 million to recover from a breach fully. Your ability to make profits from such devastating financial damages is thus impaired.
How Thinline Can Help
Malware attacks are brutal, and the worst part is that they’re common and almost inevitable. They can halt operations, dent your brand image, chase customers away, scare potential investors, and make you lose millions. That is why the value of cybersecurity cannot be stressed enough.
Thinline Tech is a full-service professional IT company focusing on various solutions, including cybersecurity. Our unique and personalized approach to security ensures that you’re expertly safeguarded from all malware attacks. Our team will work with you on an ongoing basis to detect and eliminate various threats and keep your data and systems intact.
Contact us for more information.