Large organizations have the luxury to invest substantial amounts on technology and infrastructure that can combat hacking attempts. They often have teams dedicated solely for internet and network security. As more and more big companies acknowledge the importance of hack prevention, it has become harder and harder for cyber-attacks to succeed. And so, cybercriminals began looking for a different kind of target and they eventually recognized the potential of attacking Small and Medium Businesses (SMBs).
Small and medium businesses often operate at a tight budget and therefore lack the resources to hire dedicated staff for internet security. Organizations with 500 employees or less often have an IT department capable of machine and network repairs but not defending against external threats. Furthermore, most SMBs are simply too complacent and believe that hackers will not bother attacking them.
Almost 60% of all trade transactions today are done online. During such transactions, the customer needs to provide his credit card information so payment can be made. Such credit card information is what hackers are after. If successful, your organization will be rendered unable to accept credit card payments until the breach is addressed, which usually takes several weeks to a few months. Solving the problem will likely cost tens of thousands of dollars. Add to that lost transactions and lost customers and the blow might be strong enough to end your business.
The adage is true: you should be proactive and setup your defenses, instead of reactive, waiting for a breach to happen. Achieving proactivity, however, is easier said than done, especially for SMBs. Upgrading your own IT department and hiring capable full time IT personnel is very expensive, often unaffordable. The best option is to outsource the additional IT capabilities that you need from an IT Managed Services Provider (IT MSP).
An MSP is an organization that offers Information Technology services for a fee. Through an IT as a Service (ITaaS) arrangement, you will be able to leverage the advanced infrastructure and capable staff of the provider. Partnering with an MSP eliminates the need for capital costs, you won’t have to train new employees nor do you need to set up a new office for the increase in workforce. All you need to worry about is the monthly fee charged by the provider, the provider takes care of everything else.
An MSP will perform a thorough study of your business. By understanding your entire process, especially your Strengths, Weaknesses, Opportunities, and Threats, the provider will then be able to create a plan tailored exactly to your needs and your budget.
Do not put the continuity of your business at risk. Make sure your organization is protected from all forms of cyber-attacks. If you need some assistance, an established IT company such as Dynamic Quest can provide you with a much needed consultation.
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$500 billion will be spent in the greater cloud market by 2020.
70% of SMBs reported suffering a security breach during the previous 12 months – and companies with fewer than 500 employees were the most vulnerable, with a 75% breach rate.
Billions of devices will be connected to the Internet of Things by 2025, exponentially increasing demand for MSPs to back up growing companies.
71% of SMBs are outsourcing their IT needs to a managed service provider.
93% of businesses file for bankruptcy after losing data for 10 or more days.
The average price of a data breach now stands at about $4 million.
More than 90% of businesses are either evaluating, adopting or embracing the cloud.