Forbes Explains:

Whether you’re just starting your company or you’ve established yourself in an industry, a cybersecurity mistake can wipe out all your progress and growth.

“Businesses do not realize the level of sophistication that hackrs bring to the table,” said Matt Johnson, chief executive officer at Phalanx Secure Solutions. “When you are attempting to secure your business, you have to be right 100 percent of the time. The hacker only has to be right once. Companies who get hacked often wind up going out of business, being unable to shoulder the burden of cleaning up.”

And threats and breaches are becoming epidemic.

The average total cost of a data breach among businesses is $3.79 million.  Company losses from cyber attacks include remediation costs, lost productivity, legal fees, lost data and lower stock prices, according to the Associated Press.

Read more at Forbes.