Setting up security and compliance in the early stages of your startup sets you up for a streamlined and affordable process moving forward, even in an economic or a growth downturn.
Online security is an unavoidable part of business, and without a skilled in-house team, costs to manage cybersecurity can quickly reach hundreds of thousands of dollars. Worse, neglecting to prioritize security can lead to millions of dollars in damages.
But, that doesn’t have to be the case. Want to know how to grow your topline revenue through automated security compliance?
Setting up security and compliance in the early stages of your startup sets you up for a streamlined and affordable process moving forward, even in an economic or a growth downturn.
Why does compliance and security posture matter?
Because an overwhelming majority of customers are willing to walk away from a company that experiences a data breach and can’t prove it’s secure.
A recent study from IBM found that the average cost of a data breach in 2022 was 4.35 million. Further, 38% of the cost of a data breach comes from business loss–that’s a whopping 1.6 million dollars!
Data breaches are a significant threat to any company, but especially to startups that aren’t prepared or equipped to handle the security threat, cost, and business loss.
So what’s the old approach to security compliance?
Typically people would:
So if that’s the old way, what’s the new way?
So why does the new way matter?
If it wasn’t clear already, technology and automation increase access, decrease cost, give you the ability to demonstrate security to customers, and free up time for your employees to focus on things relevant to their in-house jobs.
Today’s trust reports allow for continuous monitoring. The old trust reports in the security industry could only capture a snapshot in your company's history.
Why does this matter?
There was no way for you to demonstrate your ongoing compliance or commitment to learning and improvement, a quality your customers deeply care about.
Continuous monitoring trust reports have many benefits, here are just a few examples of what they help you achieve:
Embrace the new approach to security and compliance. Technology has come a long way in even the last few years.
Leave the screenshots and spreadsheets behind, and incorporate new security compliance methods as a way to grow your topline, even in a downturn.
If video is more your style, then check out our accompanying YouTube video. Interested in what Vanta can do for you? Take a free demo and get a free Yeti Rambler. Visit them at www.vanta.com/founderu for this exclusive Founder University offer.