Monday, July 22, 2019

Canadian Companies Unprepared for Cost and Consequences of a Data Breach

Canadian Companies Unprepared for Cost and Consequences of a Data Breach 

Shred-it’s annual Data Protection Report, which evaluates the most prescient threats to data security, took aim at Canadian businesses and concluded that they have an overly optimistic outlook of today’s cybersecurity landscape. 

Consequently, many companies are not prepared to defend against a data breach, which could negatively impact revenue, employee, and customer retention. 

The survey identified shifting consumer sentiments about data privacy and encouraged Canadian businesses to cater to the changing market dynamics by considering the reputational damage that accompanies a data breach along with other serious consequences.

Today, the stakes couldn’t be higher. 

A single data breach can have devastating outcomes for companies of all sizes, and this year’s survey concluded that too many companies need to prioritize cybersecurity as a critical component of overall business success. In many cases, partnering with a qualified security consultant can patch holes in your cybersecurity protocols while bolstering your defenses going forward. 

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