How Much Would a Data Breach Cost You?

No one wants a data breach. The results can be permanent and devastating to your company and your budget. According to InfoWorld.com, data breach recovery costs have jumped 23% in the last two years, and you can be sure that cost will only go up in the future.

Calculating exactly how much this could cost you is difficult to do. There are many factors that go into the total expenses, many of which are dependent upon how much is compromised and the sensitivity of that information. Symantec, however, created a Data Breach Calculator that takes your business size and security into consideration to provide you with an estimate of how much a data breach would cost you. Check it out for yourself by clicking the image below:

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Pretty scary, right? This doesn’t even include other losses and inconveniences, including:

  • Loss of operation time
  • Shift in business focus
  • Decreased customer confidence
  • Decline in new business
  • Lowered employee morale and confidence
  • Time spent in meetings and workshops to rebuild morale
  • Legal fees for customer damages
  • Legal fees against vendors involved in breach
  • Public relations and advertising costs
  • Replacing management team for those responsible for breach
  • Time required for company to return to “normal” state

There are important steps to take to ensure your company has the proper amount of security to prevent breaches. If you’re ready to see how Heart can help, visit our website or give us a call at 309-427-7000.

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