Most business owners have heard enough on the news to vaguely know that I.T. security is important and that cyber-attacks can do significant damage to their business. However, many organizations continue to procrastinate on getting their I.T. security framework in order. Below are some common justifications that businesses give for neglecting their I.T. security.
It won’t happen to me
Although everyone is generally aware of cyber-attacks, and major attacks are often highlighted in the news1, the threat doesn’t often hit-home for business owners or managers until it’s too late and they are the victim. Just last year, over 1,800 businesses succumbed to one or more cyber attacks, according to Verizon’s Data Breach Investigations Report 2[4, 5]. Of those, over 500 businesses had confirmed instances of confidential data being disclosed. These statistics have been steadily on the rise over the last few years. It used to be that large businesses, capable of paying large ransoms, were the primary targets of cyber-attacks. Now, 43% of online attacks are aimed at small businesses 3 and 60% of them of fold within six months of a cyber-attack 4.
If you are a business owner or manager, those are not odds you want to risk by not having a proper I.T. security infrastructure. The question is no longer whether your business or organization will be the target of a cyber-attack but when.
It costs too much
It is not uncommon for business owners or managers to think that implementing an I.T. security infrastructure will cost significantly more than the organization can afford. However, a good I.T. security setup doesn’t require necessarily require costly software or a full-time team of I.T. security specialists. The cost of neglecting I.T. security can, in fact, be significantly more than you think. On average, it costs a business $200,000 to deal with the a cyber-attack and its consequences 5. For many businesses, that is a loss they cannot recover from and could have prevented for a tiny fraction of the cost.
It’s too hard
Here, finally, we have a rationale that has some truth to it. While it may be true that the risks and costs of a cyber-attack are significant, implementing a cost-effective I.T. security solution can be complicated by several factors. I.T. infrastructure is rapidly evolving and so are the corresponding cyber-threats. I.T. security solutions (anti-viruses, firewalls, monitor software, etc.) is also rapidly evolving to meet the changing technology and threats. Combing through the many choices while keeping your costs low can be a daunting task for a business.
However, you don’t have to be doing any of that yourself. I.T. consulting companies, like JMAT Technologies, exist to serve you in precisely this need. They stay informed about the changing technology and cyber-security landscape and can quickly recommend a solution that mitigates your I.T. security risks within your budget constraints. If needed, such consulting services can also dedicate a virtual Chief Information Security Officer (CISO) for your organization at a fraction of the cost of hiring one yourself.
If you are a business owner or manager, there really are no good reasons for putting off addressing your I.T. security infrastructure. The risk is real. The benefits far outweigh the costs. There are professionals to help you make the right choices.
