Cybersecurity is an essential investment for businesses of all sizes. You need to protect client data, company assets, and keep malicious actors out of your systems. This applies across all industries and markets. Effective IT support solutions from a trusted provider can help firms create meaningful disaster mitigation plans, increase overall security, and even educate employees on best practices. Read on for insights into how cybercrime affects small and medium businesses and how managed IT support services can help.
Why Small Businesses Should Worry About Cyberattacks
While cyberattacks on major organizations make headlines, everyone should be concerned about the rising risk of cybercrime. For companies with 500 employees or fewer, data breaches and theft of business-critical data cost firms an average of $3.31 million in 2023. This is up from $2.92 million in 2022.
Organizations with less than 250 employees are the most likely to be targeted by malicious emails, so it’s clear that smaller businesses need to take the threat of cybercrime seriously.
What Cyberthreats Do IT Support Teams Handle?
Cyberattacks come in many forms. One of the most common and dangerous is ransomware. This is a form of malicious software (malware) that blocks access to business data or systems until a ransom is paid, usually in cryptocurrency.
Emails are often used to initiate phishing scams. Accurate imitations of business emails can encourage employees to share username and password details or divulge sensitive information. Threat actors can gather this information to find new ways to access otherwise secure systems.
IT support teams can monitor business networks for signs of malicious activity, report anomalies, and suggest which security tools to invest in. Some providers will also offer security assessments, testing the overall resilience of systems and networks.
Your outsourced IT team can also provide a wealth of advice on how to implement security practices into daily processes. According to the World Economic Forum (WEF), a lack of cyber literacy is dangerous, and as many as 95% of cybercrimes involve human error at some point. Engaging with experts will help you evaluate the need to train your employees on how to avoid phishing, social engineering, or the proper use of two-factor authentication.
Another service businesses should consider is disaster mitigation protocols. Should your security systems fail, what are the next steps? If a ransomware threat successfully penetrates your defenses, an existing backup of business-critical data is essential. The ability to reboot and restart any affected systems remotely greatly increases the chances of business continuity. Your IT services team should talk to you about effective data storage, management, and protection.
Benefits of Onboarding IT Support for Cybersecurity
It’s evident that keeping your systems and network secure carries multiple benefits, both financial and strategic. Here are some of the key reasons for investing in professional outsourced IT services:
Enhanced Client Relationships: Clients and customers want to know that the organizations they work with or buy from can be trusted to manage their data correctly. Working with trusted IT professionals who can advise on the best ways to store and secure data helps provide that trust and increases customer loyalty.
Boosted Brand Reputation: The dangers of a cyberattack aren’t only short-term. When customers learn that your systems aren’t secure, they may decide to go with a competitor instead. If you suffer an attack that’s subsequently reported in the media, this could drastically impact future business propositions and even discourage investors from taking an interest in your organization. Conversely, when you regularly demonstrate resilient networks and tough security measures, your reputation as a reliable brand grows.
Financial Benefits: Cyberattacks can cost millions of dollars in terms of ransoms paid, hiring data recovery experts, and a loss of income. This last point can be devastating: When your business can’t run due to loss of data or systems access, you’re in a period of zero income while your overheads continue to mount up. Thorough security protocols and disaster recovery processes can mitigate these costs significantly without compromising on digital transformation efforts.
Remain Compliant: Cybersecurity isn’t a luxury: It’s required by multiple laws. The Health Insurance Portability and Accountability Act (HIPAA), for instance, applies to any organization, nationwide, that handles the personal information of patients, from clinics to insurance providers. Other regulations apply at a state level or may be industry-specific. IT security specialists help your firm remain compliant and avoid fines and other penalties.
Trusted IT support providers can also keep abreast of rapid developments in the field of cybersecurity. For example, a recent roadmap from the Cybersecurity and Infrastructure Security Agency (CISA), in tandem with the NSA and FBI, details guidelines for utilizing memory-safe coding. Two-thirds of software security vulnerabilities come from a lack of appropriate protection when accessing memory. Managed IT services help advise on apps and processes that protect memory access, ensuring businesses stay compliant.
Choosing a Trusted Cybersecurity Partner
Look for IT services close to you who understand the local and wider rules and regulations. They will also be aware of any challenges specific to your state and how to approach them. It’s also a good idea to ask a managed service provider (MSP) what experience they have supporting companies within your industry.
Search for testimonials and reviews. Consider approaching existing clients to ask what their experiences are like and whether they would recommend the IT service provider.
Future-Proofing Your Business With the Right IT Services
If you want your MSP to grow alongside your business, ask how they support scalability to ensure they can meet your needs as you expand. Consider how they keep themselves up to speed with big data and cybersecurity trends. Also, check how they’ll communicate any changes and help you arrange upgrades when necessary.
KDI’s team of IT experts matches businesses with the right technology and services to improve efficiencies and security across the organization. Contact KDI Office Technology for further information about the right IT support for your company based in Philadelphia, Eastern Pennsylvania, New Jersey, or Delaware.