In Vodafone's recent Fit for the Future report, the research highlights that security is still a primary concern for a huge number of businesses. In fact, nearly 50% of all enterprises consider improving their cyber resilience a top priority.
However, only 25% of businesses believe their customers and partners have a very high level of trust in their security measures. As global cyberattacks increased by 38% in 2022, becoming resilient is crucial to earn your customers’ trust. Keeping your business secure can give it a clear edge over the competition, especially when it comes to high-risk or high-volume sectors. But in a world where businesses extend far beyond the traditional boundaries of the office, it’s not easy to give your customers peace of mind.
Why trust is so vital
No business works alone. Every organisation has to interact with a number of suppliers, employees, logistics services and digital service providers. But working with third parties doesn’t always mean that you have total trust in your partners.
According to the recent research, only 25% of businesses that don’t yet identify themselves as ‘fit for the future’ have very high levels of trust in the cyber security measures applied by their supply chain. In comparison, 43% of ‘fit for the future’ organisations trust the third parties they work with, which is essential to growing their businesses in a secure environment.
With so many data breaches and cyberattacks in the news, many organisations are re-examining their agreements with third parties to ensure that effective security systems are in place.
Building secure connections
‘Fit for the future’ businesses are prepared for cyber threats, no matter where they emerge. They ensure visibility across the supply chain to stay on top of their operations by observing patterns in data and user behaviour.
They continuously audit the security compliance of their business partners to eliminate any weak spots. However, suppliers may still experience breaches due to the sheer number of threats and the complexity of the supply chain. That’s why ‘fit for the future’ businesses have alternative safeguards in place.
If you can prove that you’re worthy of your customers’ trust and business, they’ll be more likely to reward you with their loyalty, data and money. Getting to this point should be the goal – and Vodacom Business can help you kickstart your ‘fit for the future’ journey.
Move your business to the next level with security
Many businesses see cyber security as a burden or an unnecessary added cost, but ‘fit for the future’ businesses look at it very differently.
They understand that cyber security supports business growth and opens up new opportunities by reducing the hurdles in working with partners and suppliers securely. Such businesses also include cyber security in their strategic planning as a catalyst for adapting new tech, building resilience and winning new customers. In short, cyber security is a must for ‘fit for the future’ businesses, and they know that their investments will pay off. As the FFTF study highlights, becoming more ‘fit for the future’ increases the likelihood of outperforming competitors by 36%.
Embracing security excellence creates a true competitive advantage, not only because these companies are able to innovate faster with fewer risks, but also because they give customers, stakeholders and partners the confidence they’re looking for.
It’s time to stop focusing on the risks and start exploring the opportunities that cyber security unlocks.
‘Fit for the future’ businesses are already building trust and credibility. Are you ready to join them?
Here’s how Vodacom Business can protect your digital assets
Our security solutions have all the key components to promote your business IT Infrastructure to be safe and secure, preventing unauthorised access and managing threats. Whether your employees are on the move or office-based, give them access to mission-critical data with a device of their choice, without having to worry about data loss.
