It has become very common and also very important for the businesses, companies, organizations, institutes and even government bodies to have web presence. They rely on web application technologies actively for generating awareness and business.
These technologies have become omnipresent and an essential part of online commercial sites. While on one side the critical information of the company is managed online on the other hand there are regular news of sensitive data theft, website intrusion and other online web application attacks.
According to the latest studies and reports submitted by universities and consulting firms; a large number of websites are vulnerable to attacks.
They have found two important trends; one is that the hackers are interested in financial gain through fraud and second is the web applications have become the target for the attackers and as per their estimate 75% of the attacks are targeting these applications.
5 main reasons why Web Application Security is necessary
Cost of recovery
Nobody is immune from the security threats on internet. As per the report, website security attacks cost around $10 billion a year. These costs include the recovery of the data after the website has been hacked and the personal and critical information been stolen.
A recent event reported a well known and reputed supermarket chain is now spending billions of dollars on web security and IT after the company realized that the attackers stole 4.2 million credit card and debit card numbers from its network.
Trust is a very sensitive issue and it cannot be won overnight. Companies spend years to gain the trust of their customers and once that trust is lost it can take a very long time to win it back. Companies can’t afford to lose the trust of their customers.
Due to security questions many customers do not prefer online transactions. More than 30% of the consumers do not use online banking because of privacy issues and security fears. If web application securities are powerful and implemented by the websites effectively, it will become easy for the customers to adopt online business.
In the competitive world like today it is very important to keep customers happy and satisfied. Smart organizations are using security trust marks to win the customer trust and are able to increase the traffic to their websites. Their sales also increase due to increased traffic and this way they outwit their competitors.
If you are sure of your online security, much of your documentation and other costs can be reduced. Costs like manual security testing can also be reduced and it is also not a very effective way to test web security.
With hackers becoming active and continuously brushing their attacking skills it is believed that they exploit vulnerabilities faster than they can be patched up. Why to give hackers a chance to test the vulnerability of your websites when you can have strong website security that deters the smartest of hackers.