5 Reasons You Should Consider Hiring a Cyber Security Professional For Your Business

Everything we do these days has shifted to the digital sphere—be it our social interactions with friends, shopping the latest sales online or even starting our own business. These technological advances have opened many doors for us, some good and some bad. So while we may have the ease of ordering things online and having them delivered to our door, it also opens us up to vulnerabilities. And it’s not just us, it’s businesses too.

Cyber crime is in vogue these days. An IBM report stated that the average breach cost for Australian businesses has risen to $4.26 million, a 27% increase since 2020. In fact, these malicious actors have also started targeting cash-strapped small businesses, forcing them to squeeze their tight budgets even more. So whether your business is big or small, cyber attacks are emerging as a real menace in 2025.

Here are five more reasons to consider hiring a cyber security professional for your business:

1. Secure Your Assets

Tons of valuable datapoints and tangible assets can be targeted in cyber attacks. The most critical information is typically financial details, such as bank account numbers, transaction passwords and account access information. And it’s not only the financial data of the business, but also that of the customers, employees and external stakeholders like suppliers and vendors. Datapoints about a business’s customers, such as names, addresses, phone numbers and government ID numbers, could also be sold on the dark web for profit.

Leaking these private pieces of information can cause collateral reputational damage to the business. Sensitive Intellectual Property (IP), like patents, proprietary design, future strategy and trade secrets, could also be released in the open or sold to competitors, destroying the business’ reputation and public trust in them. Finally, operational systems could be manipulated to disrupt normal functioning; this could be through hacking of the company networks or computerised control systems (in manufacturing).

Having a competent team of cyber security professionals, with the requisite Master of Cyber Security and similar qualifications, who can help diminish the chances of such attacks is of paramount importance. Since they are well-versed with the intricacies of dealing with different types of attacks, they can put the required measures into place to protect sensitive information and data to ensure your business and your customers are protected against potential threats.

2. Added Support Alongside Autonomous Tech

Commendable progress has been made in the field of autonomous cyber security systems.  Intrusion Detection Systems (IDS), Security Information and Event Management (SIEM) platforms and Artificial Intelligence (AI) driven analytics are proving to be great assets, bringing efficiency and innovation to the ecosystem. However, it would be unwise to rely solely on such systems to safeguard your business. 

Human intervention is still necessary to ensure a more foolproof system. AI has turned out to be an excellent processor of vast amounts of data to identify trends and anomalies. However, discerning the real motivation and identifying the implicit subtleties behind cyber attacks have proven to be beyond their capabilities. Human intuition also allows us to differentiate between false positives and genuine threats accurately. This intuition is based on real-world experiences and training, which AI can never replicate. Hence, having the human element is essential.

3. Keep up with Growing Security Threats

Cyber attacks have morphed into evolved beasts due to recent technological leaps. Ransomware has become more potent as cyber criminals can use cryptocurrency to get money anonymously, making their tracing harder. Plus, modern ransomware variants not only encrypt sensitive data but also exfiltrate the same. Hackers are also using generative AI to craft more convincing phishing emails. Deepfake tech, still in its infancy, has the potential to completely break the lines between reality and fiction. This space is only going to grow in the near future, increasing the threat for businesses of all sizes.

Having a robust cyber security team that stays on top of the latest industry changes and understands the shifting nature of growing security threats can help your business stay ahead of these cyber attacks and ensure you’re covered on every front.

4. Follow Regulatory Compliance

Having a certain level of security for your customer data can also be a compliance issue, depending on the industry and region in which the business operates. There could be prescribed best practices on the storage, collection and use of data. Certain industries like healthcare and finance can also be more stringent, keeping the sensitive nature of customer data in mind. Australia has already published three new draft laws, which deal with mandatory ransomware reporting, establishing a cyber review board and introducing a limited use exception.

5. Prevent Against Potential Business Loss

Not having enough protection can expose your business to all sorts of potential losses. Financial data breaches can lead to direct loss of funds; operational hacks can halt business, leading to immediate losses; leaking of customer data can erode trust and faith in the company, which is often irreparable. Finally, not having adequate cyber security measures in place can also attract litigation and non-compliance action. 

A good example covering all the points is the 2013 cyber attack on big box retailer Target. The company faced a massive data breach where approximately 40 million customers’ credit and debit card information was compromised and sold on the dark web. The breach led to a 46% drop in the company’s profit for the fourth quarter of that year and also attracted lawsuits and litigation. 

Businesses need to take proactive action before calamity strikes. With cyber attacks on a consistent rise, businesses need to level up their security game and hire technically adept professionals who can tackle them away. Securing your business assets can reduce the exposure to financial loss and reputational damage. While autonomous tech can bring in efficiency, it is not enough without human assistance. Having adequate protection can also keep your business on the right side of the law.