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Why cybersecurity is crucial for any business

By: Carl Lorenciana - CDN Digital Copy Editor | April 06,2024 - 12:07 PM

cybersecurity business FILE PHOTO

CEBU CITY, Philippines — With cyber threats looming ever larger in today’s digital landscape, local businesses especially in Cebu are facing an urgent need: prioritize cybersecurity or risk dire consequences.

A Cebu-based cybersecurity expert has emphasized the critical importance of raising awareness about cybersecurity among local enterprises.

In an interview, Ren Nograles, general manager of 888 Tech Exchange Ventures, voiced the pressing need for businesses to prioritize cybersecurity measures, underscoring the ever-present threat posed by cyberattacks in today’s digital age.

“It’s not a matter of whether your business will be hacked or not, it’s only a matter of when,” Nograles said.

According to IBM, cybersecurity as anything that refers to any technology, measure, or practice for preventing cyberattacks or mitigating their impact. Cybersecurity protects individuals’ and organizations’ systems, applications, computing devices, sensitive data, and financial assets against simple and sophisticated computer viruses and similar risks.


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In February this year, President Ferdinand Marcos Jr. has approved a comprehensive five-year National Cybersecurity Plan designed to safeguard the country against the ever-evolving threats of the digital age.

According to the Department of Information and Communications Technology, the country’s 2024-2028 plan is geared towards strengthening its cybersecurity systems by creating policy direction and operational guidelines.

He said the country needs to have an enough pool of talents in cybersecurity who are upskilled on emerging technologies.

Any business is vulnerable

While banks and other data-reliant industries are the most vulnerable to data breaches and hacking, any business could be exposed to these potential threats as well.

In the Philippines, recent reports of data breaches involved not just banks and financial mobile apps but even government agencies.

Nograles noted the prevailing cybersecurity challenges faced by businesses not just in Cebu but the Philippines in general, highlighting the need for proactive measures to safeguard sensitive data and digital infrastructure. This will ensure that companies “protect their confidentiality, integrity, and availability,” he said.

He said that protecting one’s business from cyber threats is vital for its survival; it ensures the safety of the company’s data and operations; it safeguards the business from potential financial and reputational damage; and it helps maintain trust with customers by ensuring the security of their information.

READ: Cybersecurity group reports possible leak of PH IDs on ‘dark web’

The expert, whose business helps firms with cybersecurity solutions, said it’s crucial for businesses to stay abreast of industry trends and leverage cutting-edge cybersecurity tools to bolster their defense mechanisms.

While some businesses have made strides in investing in cybersecurity, there remains a palpable gap in awareness, particularly among Cebu-based enterprises, the expert said.

Cybersecurity is not an expense but a fundamental investment, especially for companies heavily reliant on technology and data, he noted.

In his aim to raise awareness on cybersecurity, he said his firm, in partnership with US-based cybersecurity services provider Resecurity, is organizing a forum with local businesses in Cebu — including financial firms, academe, government, and utilities — on April 18 on latest cybersecurity trends and how cybersecurity professionals can take advantage of the available tools now to protect their organizations.

He said in the cybersecurity space, education and awareness are our most potent weapons in this digital battleground.


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TAGS: cebu news, cyberattack, cyberhacking, cybersecurity, data breach

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