Why Cybersecurity Is Important For Business Growth: 6 Reasons

There are numerous ways cybersecurity is important for business growth nowadays.

With today’s evolving threats, heightened expectations from stakeholders, advancing technology and changing regulatory environment—protecting your data and meeting compliance standards feels like a race that’s outpacing business’ daily operations.

It doesn’t have to feel that exhausting.

Simply investing in cybersecurity, and taking the steps over time to improve your information security programs, can help you propel your business forward. Here’s how our 250+ (and growing) clients are framing their cybersecurity investments with Rhymetec as an asset to their overall growth and strategy:


1. The #1 Reason Why Cybersecurity Is Important For Business: Increase Trust and Referrals

Compliance frameworks such as SOC 2 and ISO 27001 require organizations to conduct comprehensive security assessments on other vendors prior to purchasing them or using their services. Many of these security assessments require other vendors to also have ISO 27001 certificates, SOC 2 Type 2 reports to be fully SOC 2 compliant, and other security documents. If you want to sell to mid-size and enterprise organizations, it is particularly important to be able to show you have a complete SOC 2 report.

Having even just one of these certifications or reports can help you work with more customers. For customers and business partners, knowing you are serious about providing high-quality products and services will increase their level of trust and willingness to work with you. This will also organically lead to greater opportunities for referrals.


2. Use Cybersecurity As A Competitive Differentiator

A strong cybersecurity program helps attract and win more customers over competitors who are not prioritizing cybersecurity, compliance, and data privacy. Being able to show that you already have a solid security posture helps you stand out from other companies.

Not only does this impact your relationship with customers, but it can attract high-quality candidates and partners. When people see you are going the extra mile to protect their information, they will be more likely to work with you. Most customers will select vendors that have more security and compliance reports.


3. Improve Company Image

Data loss and breaches can damage your business’ reputation and destroy trust.

Show stakeholders—customers, business partners, employees, investors and more—you are committed to implementing proper security measures by utilizing security services. Working with a Managed Security Services Provider like Rhymetec shows you have your security policies and plans in place. In the event of a data breach or security incident, Rhymetec offers companies a dedicated CISO team that responds quickly and efficiently.


4. Minimize Financial Risks

Your company’s financial risk includes your cybersecurity risk profile. Cyberattacks such as phishing and malware are commonly used by threat actors with financial motives. The first step to mitigating this risk is to understand your risk profile.

A big part of improving your cybersecurity posture is conducting a risk assessment and a plan in alignment with it. In the event of a cyberattack such as a ransomware attack, you will already have a plan of action in place. Instead of scrambling to figure out what to do and who to contact, you will save money and time by already knowing exactly what to do.


5. Gain Increased Visibility

If you want to break into new marketplaces or sell internationally, having a strong cybersecurity program is a requirement in many cases.

For example, if you want to sell to government agencies, you likely need to be FedRAMP compliant. Obtaining FedRAMP compliance puts your company in the online marketplace that government agencies use to find businesses to work with.

If you want to sell to enterprise, many larger organizations will only consider working with you if you can prove the strength of your security program. The most widely accepted form of proof for this is a SOC 2 report.


6. The Last Reason Why Cybersecurity Is Important For Business: Save Time and Resources

As previously discussed, having an incident response plan in place saves time and resources in the event you were to experience a cyberattack. If you already know what to do in the event of a data breach, you will spend less time and fewer resources figuring out how to respond to the incident while also mitigating potential reputational damage to your organization.

Furthermore, a sharp focus on security can also save time in your sales and customer acquisition process.

If you already have your SOC Report, for example, you will not have to spend time filling out a long custom security questionnaire for every new prospect. You can simply show them your SOC 2 Report as evidence that you have a strong cybersecurity program.


Why Cybersecurity Is Important For Business For Rhymetec’s Customers

Our experts have been disrupting the cybersecurity, compliance and data privacy space since 2015. We make security simple and accessible so you can put more time and energy into other critical areas of your business—Some of our customers have gone on to be acquired by Meta and Zoom. Our customers recognize why cybersecurity is important for business growth, and trust Rhymetec to help them reap the benefits of having a stronger security program.

What makes us unique is that we act as an extension to your team. We consult on developing stronger information security programs within your environment, and provide the services to meet these standards. Most organizations offer one or the other. From compliance readiness (SOC 2, ISO/IEC 27001, HIPAA, GDPR and more) to Penetration Testing Services (Web Application Pentest, API Pentest, External Network Pentest and Mobile Application Pentest) and ISO Internal Audits, we offer a wide range of consulting and security services that can be tailored to your business environment.

If you’re ready to learn about how Rhymetec can help you, contact us today to meet with our team.


Metin Kortak, CTO About The Author: Metin Kortak, CTO

Metin Kortak is the Chief Technology Officer at Rhymetec. He began his career working in IT security and gained extensive knowledge of compliance and data privacy frameworks such as SOC 2, ISO 27001, PCI, FedRAMP, NIST 800-53, GDPR, CCPA, HITRUST and HIPAA. Metin joined Rhymetec to build data privacy and compliance as a service offering, and under his leadership, these offerings have grown to more than 200 customers, positioning the company as a leading SaaS security service provider in the industry.