Cyberattacks have more or less become part of the daily routine of business operations in the United States. Hackers now conduct an attack every 39 seconds, an average of 2,244 times a day. According to the FBI, there are 4,000 ransomware attacks targeting businesses daily and in 2020 there was one victim of ransomware every 10 seconds. 87% of businesses have already experienced a cyberattack purpose-built to exploit a known system vulnerability. Hackers are now increasingly consolidating into large groups to carry out attacks at a scale we have never seen before and are making use of plug-and-play attack kits that enable hackers of virtually every caliber to carry out devastating attacks. Unsurprisingly, these attacks are finding their way into millions of sensitive digital records, and are enabling hackers to blackmail organizations and even target critical public infrastructures while claiming loots amounting to hundreds of thousands of dollars each day.
Recent estimates indicate that the average cost of a ransomware attack on businesses is $133,000. The IBM Cost of Data Breach report found that the average total cost of a data breach rose by a steep 10% year over year in 2021 – the largest single-year cost increase of its kind in the last seven years. The cost of a breach went up from $3.86 million to $4.24 million. In order to protect your organization effectively, it is now essential for local businesses to find a reliable cyber security partner. In this article, we will look at the top benefits businesses can expect from having the right cyber security partner. For more information, please reach out to the security experts at Cybersecurity Fresno.
Top 8 reasons why your business needs cyber security partners
Stronger Cybersecurity Posture
An information security company monitors networks and systems around the clock, leveraging predictive analytics and adaptive risk modeling to prevent advanced threats. The company offers a variety of security solutions, such as endpoint protection, application vulnerability monitoring, firewall management, and configuration management. It provides advanced security technologies and threat intelligence to monitor and detect the latest cyber threats, such as Advanced Persistent Threats (APT), advanced malware, and other malicious attacks.
Identify Key Security Vulnerabilities in Advance
To effectively protect your organization from cybercrime, you must first identify the security vulnerabilities that leave your systems vulnerable to attack by hackers. When you partner with a security provider, they will guide your organization through a comprehensive risk assessment and internal audit of your network to develop an action plan that addresses those areas most at risk for a cyberattack.
Effective Security Training for Staff
Employees are often the most vulnerable link in an organization’s cyber defense. According to a recent study by Ponemon Institute, two out of three cybersecurity incidents occur due to employee negligence. Training programs, such as those offered by IT Support Sacramento, are a key benefit of partnering with cybersecurity firms because they help employees gain current and dynamic awareness of cyber threats endangering the organization’s assets, network, and data.
Relevant Security Solutions
Cybersecurity providers offer tailored security solutions and program recommendations to help their clients secure their enterprise-class networks and data. These providers use Security Operating Centers (SOCs) and state-of-art technologies to provide high-level security with 24×7 support, monitoring, and management for their clients.
Cybersecurity professionals are needed to address the evolving threat landscape. And most organizations lack the time and capability to train them. Moreover, present-day cybersecurity programs, tools, and capabilities often require dedicated hardware or appliances to run, and they come with an additional cost. But partnering with a cybersecurity provider can help businesses save huge upfront costs and time without compromising their security.
Significantly Lower Regulatory Risks
In an effort to protect customer data privacy and security, governments across the world have started introducing data regulations such as the European Union’s General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act (HIPAA). Organizations that fail to adhere to these regulations may be subject to hefty fines as well as damages resulting from a data breach. A cybersecurity company can help organizations stay in compliance with these regulations by upgrading their infrastructures to required standards and shaping cybersecurity policies.
Focus on Core Business
Businesses have struggled to maintain a balance between their core business objectives and cybersecurity requirements, regardless of their size. Over time, as cyberattacks change, organizations’ information security needs have become more challenging and strained. By partnering with a strategic information security provider, businesses can reduce the amount of time and effort required to maintain cybersecurity and allow their executives to stay focused on core business goals.
Improved Incident Response Posture
Cyber incidents can have devastating impacts on organizations. When your organization is in fire-fighting mode, this is where it can make the most difference to have a trusted partner at your side. A cyberattack can devastate a company’s reputation, cost it thousands of dollars in lost revenue and expose it to legal liability. The cybersecurity company’s staff of analysts and engineers will quickly assess the attack and recommend specific actions to prevent further harm to the organization. The company also helps organizations prepare for attacks by offering training and other services. Being prepared for attacks also helps organizations respond more effectively when they do occur. Always look for a cybersecurity company that has a proven track record of handling these crises, and are capable of providing key services such as incident response and overall risk management to help your organization when you need it the most. For more guidance on this, please refer to Managed IT Services Sacramento.