Cybersecurity is defined by the Merriam-Webster dictionary as "the measures taken to protect a computer or computer system (as on the Internet) against unauthorized access or attack."

This unauthorized access or attacks are malicious acts that threaten to damage or steal data which include computer viruses, data breaches, Denial of Service attacks, and other attack vectors. This is definitely something you wouldn't want your business to experience.

Cybersecurity awareness is important for your business.

Do Companies Need Cybersecurity?

A Clark Study at the University of Maryland has revealed that attacks on computers with Internet access now happen every 39 seconds on average. Norton, on the other hand, has reported that of the 800,000 people that get hacked every year, 64 percent of companies have reportedly experienced web-based attacks in 2020. Even small businesses aren't spared as 43 percent of these attacks were reportedly targeted at them.

What are the Consequences of a Cyber Attack?

Aside from monetary damages, companies affected by cybercrime spent an estimated 2.7 billion hours trying to resolve it.

In recent news, the Ronin hack-one of the largest crypto heists in history-cost the company 173,600Eethereum and 25.5 million in USD coins. Moreover, Accenture Security reported that the average cost of an incident stands at a whopping $13 million. Aside from monetary damages, companies affected by cybercrime spent an estimated 2.7 billion hours trying to resolve it, according to Norton.

What Can You Do to Protect Your Business From Cyber Attacks?

The best way for companies to protect themselves from cybersecurity threats is to make their employees aware of cybersecurity and have a solid cybersecurity program in place.

1Password Business protects your business and employees by giving you complete control over passwords and other sensitive business information. The company is also compliant with the most stringent industry standards for data confidentiality, integrity, and availability.

Avoid losses from any security compromise.

With cybersecurity awareness, your employees will be able to determine cyber threats and their potential impact on your business, as well as the steps required to reduce risks and prevent cybercrime from infiltrating the online workspace. It's also much easier to protect employee and customer data with the correct precautionary measures rather than having to deal with post-crime consequences. Additionally, it builds trust and loyalty at work while avoiding losses from any security compromise.

Let 1Password help secure your business.

How 1Password Can Help Secure Your Business

1Password Business is the easiest and safest way to store, use, and share strong passwords. It features simple and powerful administration, allowing you to set permissions at scale and customize access by user, group, or vault. With it, you can also delegate admin responsibilities to trusted members to help you manage your account.

1Password offers various features.

This password manager also features:

  • Data encrypted at rest and in transit
  • Tamper-proof and authenticated encryption
  • Brute-force protection with PBKDF2
  • Data residency options
  • Audit logs
  • SOC2-compliant
  • Customizable access policies
  • Secure vault sharing
  • Account recovery

Trusted by Gitlab, Under Armour, Intercom, and a hundred thousand more businesses; 1Password gives you the security and assurance you need when it comes to your business.

Try 1Password now for free!