A phishing threat is most likely to take place following a data breach, but they also cause data breaches. The type of scam messages will usually ask for some level of personal details on a subtle manner or will install malware on devices once a URL is clicked. For such meaningless action the consequences in IT security are huge.
A phishing attack compromises your business’ IT security. The destructive impact includes reputational damage, losing customers, share price falling, fines and potentially leaked information and intellectual property theft, not to mention the general disruption felt by everyone across the business.