A new client of ours came to us with a problem that was causing them to lose prime business opportunities on a large scale. Due to the rapid growth of their business over the past 2 years, they have been able to attract some of the world’s most well known companies, which is great. Their problem came when these companies started checking the online safety of their product, and it did not meet the standard. They loved the product, but could not adopt it due to the lack of security.
In a recent study by BitSight, they found that a number of companies have lost potential business due to failing to demonstrate they ensure their online safety. In fact, about 38 percent of enterprises admit that they have lost out due to either a real or perceived lack of security within their organisation.
This is despite many business leaders realising that security is recognised as a key differentiator for sealing business, with nearly three-quarters of C-level respondents saying that improved security performance would greatly or significantly improve company financial performance.
We had a 1 day workshop with our client and were able to identify a few quick wins to get their online security up a level. We also mapped out a plan to meet their medium and long term security issues. With the short term security fixes in place, and their online security plans mapped out, they were able to go back to lost opportunities and win back the opportunities they have been working so hard far.
“Financial success, brand perception, business continuity and company reputation now all hinge on security performance” said Tom Turner, CEO, BitSight.
Source of info: IT ProPortal