A growing market for strong cybersecurity has companies in a bind from which they can’t escape. Escalating threats, costs and responsibilities are making it nearly impossible for businesses to keep up with the pace, forcing them to place burdens on their understaffed IT departments.
This problem is serious and getting worse. Worldwide spending on security-related hardware, software and services is expected to reach more than $94 billion this year. These prices can be devastating for small- and mid-sized businesses that can’t afford to inflate their payrolls with security teams.
Two-thirds of small businesses consider cyber risk a concern, but only 52 percent have a defined defense strategy. Strained budgets keep these companies from funding necessary protection. Many believe they’re too small or their data isn’t valuable enough for intruders to pay attention, but that’s a fallacy. Stolen personal information sells on the black mark for an average of $246 per record.
A cyber breach can cost a small-business owner as much as $38,000 to fix an attack, and some of these companies go under in less than six months. Cash-strapped organizations can’t sit by idly any longer. The stakes are too high, but there is an alternative.
Managed Services Providers can serve as a lifeline for
these businesses to avoid attacks.
But MSPs must take the reins and become their clients’ protectors from threats. MSPs are learning that adding this option soon will become a necessity in a competitive market.
But the evolution of MSPs is in its infancy. It’s a methodical transition that will need to be well planned and vetted. Reestablishing customer trust is a primary step. Clients need to be assured certainty is more than just responding to attacks before informing them that their networks have been compromised. Enhanced security should be the result of a proactive approach. Businesses can’t afford hiatuses in production, and MSPs can’t allow their reputations to be tarnished.
Apogee IT Services is taking steps towards becoming an MSP that puts security near the top of its priorities. We are preparing a security package for clients to provide a necessary layer of defense. External- and internal-network scanning, and employee testing and training to combat phishing attacks are part of our program.
It’s an endeavor that should produce a security blanket our clients desperately need and provide a good peace of mind, knowing their businesses are safer than they were yesterday and better prepared for an uncertain tomorrow.
To discuss security strategy, contact Security Analyst Frank Verdecchia at firstname.lastname@example.org.