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In 2023, over 3000 companies reported being victims of data compromises. While we often hear about large-scale breaches, the reality of the current cybersecurity landscape is that every company is vulnerable to attack. This is precisely why the proactive nature of penetration testing services is critical to your company’s ongoing security strategy, making you feel prepared and in control.
With this in mind, many companies are turning to cybersecurity specialists to test their security controls, leveraging penetration testing to determine their potential susceptibility to attack.
What is Penetration Testing?
Simply put, penetration testing (or “pen testing”) is a method to check how secure a network is. An outside expert, usually a Certified Ethical Hacker, completes a range of tests depending on a specific scope. Their role is to attempt to break into your network from the inside, the outside, or both. They’re looking for any weak spots that actual hackers could potentially exploit.
Pen testers think like hackers and employ similar methods to breach your network and IT infrastructure. There’s a big difference between trying to stop an attack and proactively finding weaknesses in your security controls. Something that seems secure might be vulnerable, and the key is in how you look for these weaknesses.
To help us highlight why penetration testing should be part of your cybersecurity strategy, we asked our partners at Telesystem to share the benefits of pen testing and why it’s essential for any business.
#1. Achieving Cost Efficiency and Risk Control
Penetration testing tools and strategies may seem like an expensive investment at the outset, but the potential costs of a data breach are far more significant in the long run. The financial losses from a data breach can be exponential between remediation, legal fees, possible regulatory fines, and reputational damage.
IBM reported that the average time to detect and stop a data breach is 277 days, and the repercussions can last for years. The reality is that the longer a malicious actor can access your data, the greater the damage and fallout. The same report also noted that breached organizations are even more likely to have a repeat occurrence, with 83% of the companies studied being hit more than once.
With the average cost of a data breach in the United States topping out at $9.48 billion in 2023, there is no question that a lack of cybersecurity can cost your business far more than the investment in penetration testing tools.
By taking a proactive approach and addressing any risks your penetration tests uncover, you can position yourself for minimal downtime and interruptions.
When you pay professionals to simulate an attack, they will provide a comprehensive report highlighting any flaws and recommendations for fixing them. By doing all this before an attack happens, you’re saving your company from potentially devastating consequences.
#2. Finding Weaknesses Before the Hackers Do
As technology becomes more sophisticated, so do cybercriminals.
While some companies take an “if it isn’t broken, don’t fix it” approach, the odds are against them. Data breaches are becoming more common each year, and while a network may look fine on the surface, that isn’t any guarantee that someone can’t compromise it with the right skills.
In 2017, credit reporting bureau Equifax was the victim of one of the most significant data breaches in history. And Equifax had to pay over $700 million to settle the investigations.
The cause was a failure to patch a known design flaw in the Apache Struts software.
This is a notable example of how proactively identifying potential threats allows you to address them. This type of testing doesn’t only look for weaknesses — it tries to find ways to exploit them. It’s an actual test of how effective your cybersecurity is. You can get the insight you need to fortify your security posture by simulating possible attack scenarios like phishing attempts or malware injections.
#3. Augmenting Cybersecurity Preparedness and Awareness
Ensuring your employees have a strong level of awareness regarding cybersecurity is another crucial aspect of your overall strategy. Believe it or not, penetration testing can help with that.
For example, conducting penetration testing and simulating a phishing or social engineering attack to train your employees to respond appropriately.
If an employee falls for one of these ploys during a penetration test, it’s an opportunity to direct them to the appropriate resources. Penetration testing can also identify any common cybersecurity knowledge gaps in your workforce at the organizational level.
Penetration testing helps organizations improve their incident response plans and ensures quick and effective actions during a cyber incident. Regular pen testing boosts a business’s cybersecurity awareness, readiness, and defense against cyber threats, providing reassurance and confidence.
#4. Maintaining Regulatory Standards and Compliance Requirements
The stakes are high regarding cybersecurity, and the current regulatory and compliance landscape reflects this. Organizations are accountable for ensuring appropriate security measures and practices, and penetration testing services can help ensure you’re not missing any red flags that may come back to haunt you later.
With the General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS), and Health Insurance Portability and Accountability Act (HIPAA), demonstrating a commitment to regulations and compliance can help minimize possible penalties for non-compliance.
In May 2023 Meta was hit with a $1.3 billion fine for unlawfully transferring personal data from the European Union to the US, which reflects just how severe the consequences of non-compliance can be.
Rigid penetration testing is a must to ensure your organization doesn’t suffer the same fate. Showing an ongoing commitment to a robust security posture and due diligence helps protect your business from expensive penalties and possible reputation damage while protecting your customers’ most sensitive data.
#5. Preserving Customer Loyalty and Trust
Customers share more data than ever, counting on you to keep it safe. While the financial repercussions of a data breach may be huge, the reputational damage can have just as significant an impact on the trust and loyalty of your client base. Building a solid reputation can take years, so it’s not something you want to risk.
Investing in penetration testing tools and practices is one way to show you take your commitment to your customers seriously. Frequent testing can help prevent the loss of sensitive data and ensure your ability to deliver an outstanding customer experience won’t be at risk.
Think of it this way: investing in penetration testing is investing in your brand’s image. By taking the necessary steps to protect your customers, you can help ensure confidence in your brand while building long-term customer relationships.
Proactively Invest in Penetration Testing Services
In today’s landscape, staying ahead of potential threats is not just a luxury but a necessity. Penetration testing services are one of many measures to help you proactively safeguard your company’s data and reputation while assisting with compliance with regulatory and cyber insurance requirements.
Book your complimentary cybersecurity assessment to determine what penetration testing services you need.
