The Big Picture: Robust Cybersecurity System Means Greater Investment Opportunity

“The most expensive thing in the world is trust. It can take years to earn and just a matter of seconds to lose.”– Unknown

Banks, venture capitalists, and perspective buyers are increasingly adding a new criterion to their investment audit: cyber risk. Reflect on whether your business is ready to do cyber-battle today, and the cost if it’s not ready.

When we make a mistake in business, it’s natural for others to notice. It’s also natural for them to question your business acumen when such mistakes are made. Some mistakes, inevitably, are bigger than others. Some are so big that people outside your organization notice. One such rising mistake most often noticed is when businesses around the world are victimized by cybercrime.

Cybercrime, as I’ve detailed in other articles, is a panoply of digital wizardry, conducted by elusive criminals operating in the dark web. Like a group of rebels, they perform guerilla warfare, conducting hit and run tactics, striking fast and hard, and disappearing in an instant. Also, similar to the fallout in guerilla warfare, the public perception of blame often lies in the organization or institution attacked. Questions arise such as:

  • “Why aren’t your defenses stronger?”
  • “How could you let this happen?”
  • “What are you going to do so this doesn’t happen again?”

As if the underdog principle applies, you’re left to pick up the broken pieces with no finger to point.

Of course, in the business world, these questions don’t come from concerned citizens. Rather, they come from employees, shareholders, partners, and your board of directors. They also come from an increasingly more vigilant and hyperaware group: investors.

In many ways, this can be incredibly frustrating. A business that, for all intents and purposes, has maintained good books, high customer satisfaction, and taken care of its employees receives a large black eye that in some cases can leave you blind and crippled, ruining a potential deal, buyout, or investment block.

Since cybercrime has exploded in the past five years, banks, angel investors, lenders, venture capitalists, and potential buyers are taking a closer look at the businesses that they give their money to and what their cyber risk exposure looks like. They incorporate ESG tools and assessment criteria to test your cyber security parlance and practice. The equation is simple: If you fail, you don’t get their money and support.

This reality is further heightened by rumors that the U.S. government is in the works to pass a federal data and privacy security law, similar to the ones already passed in California and the EU. While such laws mostly apply to data harvesting companies, there are greater ramifications for anyone who is affected by cyber-crime. The general message being, ‘It’s the 21st century, we live in a digital age, and there are digital thieves. Take appropriate steps to protect yourselves and your customers or you’ll face fines.” With this possibility on the horizon, no bank, buyer, or investor will touch your business if there is even a hint that your company is unprepared for a cyber-attack.

The good news is that there are countless effective measures to prevent your business from succumbing to cyber-attack. Look for a company that will perform stress and penetration tests to give you the bulletproof security blanket you need, whether to impress investors and bankers, or just stop the next ransomware attack that is sure to come your way and keep the trust you have so diligently earned of those in your community.

As I’ve mentioned, taking these extra steps is in the best interest of everyone involved and your greater circle of influence. It simply can’t be overlooked.

Mehul J. Davé is CEO and chairman of Entelechy Global Inc., and chairman of Linkage Technologies Inc. 

Back

2022

The Big Picture: Robust Cybersecurity System Means Greater Investment Opportunity

05-04-2022

When we make a mistake in business, it’s natural for people to notice. It’s also natural for people to question your business acumen when such mistakes are made. Some mistakes, inevitably, are bigger than others. Some are so big, that people outside your organization notice. One such type of rising mistake that is being made by businesses around the world where people notice is when you’re victimized by cybercrime.

View Story

The Big Picture: Cybersecurity—Where Remote Work Gets Really Precarious

02-15-2022

No one was prepared for the dynamic events of the last two years, changing the way we work and interact. Surviving this as a company has meant adapting to a new work environment, with businesses across the globe placing emphasis on remote work. While this has been advantageous for workers and companies alike, it has placed enormous strain on existing security systems unequipped to handle such situations.

View Story
Back

2021

The Big Picture: Cybersecurity and Hardware Security

11-10-2021

Wherever I go, I am pleasantly reminded of the role our industry plays into everyday lives. From the sight of people texting and calling loved ones on their phones, to children laughing and playing with their high-tech toys, to doctors and nurses using advanced med tech to keep someone alive. I get a feeling of contentment and pleasure knowing our industry plays a role in fulfilling these moments. As much as these moments are vicarious, they are also vulnerable. They remind me of how important the safety and security of our work is.

View Story

The Big Picture: Geopolitics and the PCB Supply Chain

08-26-2021

As the PCB industry made its way to China starting in the mid-1990s, I followed the herd. It was a good move as I ended up with some of the largest PCB companies in China as customers and got to know so many more people in Asia. The shift to Asia, and specifically China made a lot of sense at the time.

View Story
Back

2020

The Big Picture: Globalization—Imagine a United States That Isn't United

10-12-2020

What if the U.S. was fragmented with 50 state fiefdoms, each with their own rules and barriers blocking the free flow of goods and services across state lines? We cannot even imagine such a scenario, yet that is exactly what’s happening—fortunately not across state lines, but across global borders. Mehul Davé advocates for starting the hard work to get globalization back on track.

View Story

The Big Picture: COVID-19 Helps Kill Globalization

07-13-2020

Globalization was in trouble even before the pandemic. The decades-long open system of trade that dominated the world economy has been damaged by the financial crisis and—more recently—the Sino-American trade war. Mehul Davé explains how COVID-19 has added a third-body blow to globalization.

View Story

The Big Picture: Globalization—The Onset of COVID-19

04-20-2020

In Mehul Davé's last column, he spoke to the challenges of tariffs and alternate sources for PCBs and the larger divide between the U.S. and China, potentially leading to far broader implications for U.S.-led vs. China-led technologies. The world has changed dramatically since then. Mehul explores how the COVID-19 outbreak has impacted the rollout of 5G and relations between the U.S. and China.

View Story

The Big Picture: Globalization—Tariffs and Alternate Sources

01-09-2020

The new year is upon us, so Mehul Davé started thinking about the main challenges his company and customers are facing as we enter 2020: tariffs and finding alternate sources for PCBs. Mehul shares his thoughts.

View Story
Back

2019

The Big Picture: Globalization—What Happened?

07-16-2019

Cheap products and services from places like China and India are good, but giving up the position of being the top dog doesn't sit well with most people—especially when you have leaders around the world reminiscing about the past and wanting to make XYZ great again or something similar.

View Story

Can Do in CAM Outsourcing: CAM Engineering— Building Redundancy in Critical Areas

01-22-2019

Many believe that outsourcing is wrong because it takes away from local jobs. That may be the case if this industry can find the talent level at a cost that they can afford, but this is not the case in North America or Europe.

View Story
Back

2018

‘Can Do’ in CAM Outsourcing: Improving Quality in CAM Engineering

09-19-2018

In this series, Mehul J. Davé, CEO of Entelechy Global Inc., will address six ways in which a company can significantly benefit from outsourcing their front-end CAM work.

View Story

CAM Engineering—Reducing Costs

06-12-2018

While having on-demand capacity, improved automation, and fast turn-around are critical to any front-end engineering operation, achieving those goals with a cost-effective solution is imperative. Electronics are constantly under cost-reduction pressures. Functionality, capability, and complexity increase while costs decrease.

View Story
Back

2017

CAM Engineering—Fast Turn-Around

09-11-2017

Time-to-market has been the mantra for every successful technology company. The best among them have strong and integrated supply chains that march to the drum of the OEMs and EMS providers that bring that technology to market. A big part of that success, especially in North America and Europe, is the ability for PCB manufacturers to turn around complex PCBs very quickly. The hallmark of PCB production in these higher-tech, higher-cost regions is flexibility and responsiveness.

View Story
Back

2016

CAM Engineering – Automation

12-19-2016

As volume production in PCB has shifted significantly to Asia, manufacturers in Europe and North America have been focusing on high technology, quick-turn, prototype, and lower-volume production.

View Story

A Case for Outsourcing CAM Engineering

04-29-2016

In the West, outsourcing is sometimes considered taboo and many believe it is one of the causes for shifting our manufacturing base to the East—specifically China and other lower cost Asian countries. In this series of columns, I will make a case in support of CAM outsourcing—especially for North American and Western European printed circuit board manufacturers.

View Story
Copyright © 2022 I-Connect007. All rights reserved.