Our clients typically think of cyber security as risk reduction. This makes sense when three major UK airports were recently attacked, and leading tech bros signed a letter calling for the world to beef up cyber defences. Unfortunately, mid-sized businesses are an increasing target for ransomware, with incidents typically costing six figures and leaving permanent brand damage.
But there is a more positive way to look at cyber security, in that it can be a point of difference and even support growth. In fact, we’ve been helping our clients use cyber as a means to land contracts in enterprise business supply chains and enjoy the stability and revenue that comes with them.
Recently, we’ve helped:
- A digital agency secure work with a Big Four accountancy firm
- A business communications provider meet the requirements of a major telecoms company
- A boutique consultancy strengthen its position with a global pharmaceutical organisation
In each case, demonstrating robust, independently verified cyber security was a prerequisite to earning and retaining business, and the good news is that achieving this doesn’t have to be complex or disruptive.
The JLR and M&S hacks have made cyber security a strategic issue for their entire supply chains and have even changed the culture throughout both industries. This change is ongoing and (rightly) becoming normalised for the whole of UK plc. The takeaway is that cyber security is necessary for reducing risk but can also be a path to growth for companies looking to demonstrate their trustworthiness.
We’ll be discussing cyber risk more specifically in our upcoming CEO masterclass: what’s your real cyber risk? You’re welcome to send us any questions you may have beforehand for our expert panel.
Either way, we’re always up for a conversation about the risk – and potential advantages – for your business, with no pressure and in the strictest confidence.