Why Is Network Management Critical for Your Business?
Business

Why Is Network Management Critical for Your Business?

There are many reasons to employ a network management service, but you might be wondering what benefits you can expect to receive from the investment. The article below explores some of these factors and the costs and regulations involved. Ultimately, they’ll better equip you to determine whether network management is a necessary investment for your business. So here’s what you should expect. After all, you’re spending money to protect your business’s data, so why not take advantage of the security features of network management?

Costs

While it is easy to see the benefits of having a dedicated network management system, it is essential to remember that these tools aren’t free. There are costs involved, and you should ensure you budget for them in your business’s budget. 

An hour of downtime can cost an organization up to $20,000 or more, depending on the severity of the problem. This is not to mention lost productivity, damaged customer trust, and increased operating costs. Therefore, you cannot afford to overlook network management costs, especially if you are running a small business. A small network failure can cost upwards of USD 27,440,000 annually or even more. Whether you have a single server or thousands, you can’t afford to be down for longer than necessary.

Benefits

There are many benefits of network management for business. Most businesses already have systems to streamline their operations, but you should not ignore the importance of optimizing network performance. Managing network performance effectively can help your business gain more efficiency and profits and save your business time and money. This service ensures that your network runs as efficiently and effectively as possible.

Complete visibility of your network infrastructure is an essential benefit of network management. It allows you to diagnose problems before they become too severe and makes your system more efficient. Furthermore, it helps you benchmark the performance of standard networks, allowing you to allocate network resources more efficiently. Ultimately, network management can help your business stay on top of its network’s performance and keep up with the latest technologies. By keeping an eye on network health and monitoring system performance, you’ll be able to make better decisions and increase productivity.

Regulations

While it is essential for network admins to enforce Sarbanes-Oxley Act compliance standards, they are also responsible for keeping networks secure and compliant with HIPAA and Payment Card Industry standards. With this in mind, network automation tools help streamline the validation process. 

Security management refers to the management of information and devices in the network. Security management involves granting access to users, monitoring network performance, and ensuring that data security is always high. Fault management is a crucial part of network management because it helps identify system errors and determine how to fix them. The network administrator must also maintain the life cycle of devices on the network, ensuring that outdated appliances are removed from the web to avoid security risks.

Compliance

Complying with industry-specific and federal laws is a complex task, and network management can help organizations meet these requirements. Many regulations apply to networks in particular industries, including financial institutions and health care organizations. For example, HIPAA and SEC regulations protect health care data, and the Payment Card Industry Data Security Standard (PCI DSS) mandates specific network requirements and access controls. To comply with these regulations, enterprises should consult regulatory experts about developing and implementing network management practices that help them meet their compliance goals.

The network management team has many responsibilities, including data aggregation and integration. This team collaborates with other areas of the organization and is the source of all data. Its role is to help organizations demonstrate compliance with regulators and increase efficiency and accountability. The network management team also oversees the work of external agents and information imparted by them. As a result, network management must be a top priority.

Security

Network security is essential to ensuring that data is not exposed to hackers or the public. While there are many ways to protect the network from hacking and malware, there are also numerous industry and location-specific laws. HIPAA, for example, regulates the transfer of health data, while SEC regulations govern financial data. In addition, network security is essential for financial organizations, as the Payment Card Industry Data Security Standard (PCI DSS) mandates that specific network components be protected against unauthorized access. Organizations must implement strong passwords and protect their routers to ensure compliance with these regulations.

There are many ways to secure the network, including application security and network firewalls. Firewalls act as gatekeeping devices, allowing or denying access to specific traffic. Virtual private networks encrypt communications between endpoints, enabling them to communicate privately over the internet. Additionally, you can use behavioral analytics to detect abnormal network behavior. Wireless security is also a growing concern because mobile devices create new vectors for network infiltration.

Outsourcing

Outsourcing is vital to effective network management. Outsourcing firms assess the user’s business objectives and determine their current and future computing needs. After determining these parameters, they design the system to meet the user’s specific data transfer requirements, which may involve equipment from different vendors and carrier exchange facilities. Once this is completed, outsourcing firms coordinate the activities of equipment vendors and carriers to meet the requirements. However, there are several disadvantages to outsourcing.

Often, a company can outsource the network management task for weekends or second or third shifts. You can outsource more jobs as the relationship grows with the outsourcing firm. For instance, database modifications can be outsourced, which will cut down on staffing and overhead. In addition, by outsourcing this task, companies will have more time to focus on mission-critical tasks. This is especially important when budget constraints make it challenging to hire in-house IT staff.