Fortune 500 and other large companies around the world spend vast amounts of money every year on Information Technology. Money is spent on hardware, software licensing, network connectivity, consulting, implementation and an assortment of other goods. As large as that number is, you still need to add on the cost of IT staff to plan, upgrade and manage those solutions year after year and keep operations running day to day.
Larger companies also need to purchase and upgrade hardware such as routers, switches and firewalls. They also spend money on security solutions such as intrusion detection and prevention, log collection and aggregation, and email filtering. With all this time, money and effort being spent, it only takes one mistake, one missed patch or one disgruntled employee to render all that careful planning and diligent execution irrelevant.
With large corporations expending all this effort and money, how can small or medium sized businesses afford to protect themselves and their customers data? Or, do small and medium sized businesses not need to worry about being a target? Below are a few cybersecurity statistics we’ve collected from a few sources (like this one) as they relate to SMB’s that may interest you:
- Forty-three percent of small businesses have experienced a cyber attack
- More than 70% of cyber-attacks target small businesses
- As many as 60% of those small and medium businesses go out of business within six months of an incident
- One of the greatest concerns of small businesses is their customers data
- As a result of these cybersecurity incidents, companies surveyed spent an average of over $870,000 due of damage or theft of IT assets. And disruption of normal operations cost an average of over $950,000
There are additional statistics that could be list here, but you get the picture. Small and medium sized businesses are often targets of malicious actors. They know that SMB’s generally don’t have a high degree of security in place, but that they do have access to other larger companies, and that can be used as a stepping stone to gain access to those larger companies. Such was the case with Target not too long ago. And we see no signs or reason for that trend to change any time soon.
At Imperitiv Solutions, we bring over 20 years of experience providing enterprise IT consulting and solutions to SMB clients. Our consultants and architects can help bring the same level of security and productivity without the large financial overhead that comes with deploying or managing an enterprise grade solution. By using cloud-based apps and tools such as Office 365 and Azure, we’re able to bring enterprise class security to the smallest of businesses.