Protecting your business against cyber-attacks may not seem like a critical expenditure until it’s too late. The cost of a single security breach could cost over $1M per incident and costs are on the rise. According to IBM, the average data breach cost in 2022 climbed to $4.35M from $4.24 million just a year prior. With costs continuing to rise each year it’s clear that the time to protect yourself and your business from a data breach is now considering the average cost has risen almost 13% since 2020 alone.
So you might be wondering, if a data breach can cost this much, what can I do to prevent a costly attack from taking place to begin with?
That’s simple – invest in a trusted cybersecurity partner.
Here are just a few of the services that a cybersecurity service provider can offer to help thwart an attack:
- Scan for breaches before they happen: Cybersecurity software monitors and manages your system 24 hours a day, 365 days a year. The software is constantly and actively looking for vulnerabilities and threats even when you can’t.
- If a breach does occur, reduce the breach window: In any potential security breach time is of the essence to stop the intrusion before it has time to propagate. Cybersecurity solutions close the breach window as soon as a threat is detected which reduces the amount of time your data is in a vulnerable state and at the mercy of potential hackers. This drastically reduces the amount of damage you could be susceptible to and helps stave off large-scale financial ramifications.
- Breach management: Once a breach has taken place it’s important to remediate any damage caused by the intrusion. This can mean dedicating significant amounts of time and resources to reaching out to those affected and negotiating a fair compensation for breach of their information. Fortunately, this is a feature included with most cybersecurity software providers allowing you to focus on what matters – your business. A Managed Service Provider can respond to security breaches in real-time on your behalf based on actions you have already approved making their involvement immediate and void of waiting on approvals to take action.
- Total Cost Ownership reduction: By alleviating the need for in-house resources to manage and respond to possible breaches, a managed service provider can significantly offset your total cost of ownership (TCO) making the investment in the protection of your and your customer’s data even more worthwhile.
Allow one of our Technology Advisors to evaluate your personal needs to determine how a cybersecurity provider could help protect your business. We can help implement a strategy to prevent a possible intrusion and help your company’s data remain secure.