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ARTICLE · 08 APRIL 2015

The Customer Impact: A Financial Halo Effect

Clyde & Co
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The big thing right now if you look at any data breach is the PR downside, the impact in terms of reputational damage, customer churn and ultimately lost revenues.

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Clyde & Co LLP
Clyde & Co LLP
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" The big thing right now if you look at any data breach is the PR downside, the impact in terms of reputational damage, customer churn and ultimately lost revenues. Our customers tend to be at the forefront when it comes to breach response, but eighty per cent of the businesses we talk to are most concerned about protecting customer relationships following a breach, with very good reason. "

Whether or not UK organisations fully appreciate the risk that they will be affected by a data breach, it is clear that the majority do understand the likely impact if the worst should happen.

According to the research, they are well aware of the regulatory impact of a data breach, the cost of recovery and, perhaps most importantly, the potentially devastating effects on trust and customer loyalty. According to the research:

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