Whether you’re a small business or a publicly traded fortune 500 company, digital technology is essential for doing business in 2023. It’s difficult to find a company that doesn’t use modern computer technology in its operations, regardless of size or industry. IT security compliance is needed in 2023 more than ever because it ensures the protection of valuable data from cybersecurity risks, avoids expensive fines and penalties, and can improve satisfaction from both employees and customers. Protects Valuable Data: First and foremost, IT security and compliance safeguards help to mitigate the risk of data from cyberattacks and unauthorized activity. Data breaches can cause periods of prolonged downtime for an organization’s computer systems, which causes businesses to lose money by the minute. Customers, employees, and the company as a whole can have their private data exposed. This can lead to potential identity theft, significant financial losses, and can severely damage a business’s reputation. After all, nobody wants to work with a company that can’t protect their data. And as new risks to information security develop every day, it’s crucially important to protect customer data. Avoids Expensive Fines Failure to comply with security regulations leads to expensive fines.. Additionally, specific regulatory bodies like HIPAA and ISO can impose hefty fines and even jail time for egregious violations. And there’s also the cost of legal fees, damage to stock prices, loss of customers, and bad media coverage for those who suffer avoidable security breaches. Improves Customer Satisfaction Privacy is highly important for today’s consumers. Transparent IT security policies can help to develop and maintain customer trust by assuring customers that their data is protected according to legal requirements and beyond.