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Statistics show that small to medium businesses face many known IT risks. Discover what is at risk for your business and how to build an IT strategy that works.
Now and then we come across statistics that change the way we view IT and cybersecurity. Your business is valuable, and so is the data that you and your company access daily. Understanding the vulnerabilities and risks that are a reality for many businesses around the world today will also help you determine the best IT strategy for your company. These are seven stats we can’t ignore, and how to build and implement an IT plan that keeps you safe from becoming part of the statistics.
According to a report by Osterman Research, 22% of businesses with 1,000 employees or fewer have to stop business immediately after a ransomware attack due to encrypted data. Without a disaster recovery plan in place, around 15% of businesses lost revenue from downtime, lost sales, and data recovery.
While previous reports from Gartner cite that the average cost of downtime is $5,600 per minute, a more recent survey from Datto indicates that for small to medium businesses, a more accurate cost is $8,000 per hour. While that sounds better, it is still a cost that most businesses cannot afford. Any downtime can be detrimental to a business, regardless of the cause.
Having a backup and recovery plan in place are essential for any business of any size. When ransomware or any other type of cyberattack infiltrate your business, the best way to protect yourself is by already having a plan in place. Datto’s State of the Channel Ransomware Report also found that 40% of businesses without a plan could not recover swiftly or completely from a cyberattack.
The previous statistic proved the effectiveness of having backups and a recovery plan in place, and yet the majority of businesses only have part or pieces of a plan if anything. The best plan against cybersecurity risks like ransomware is to keep regular cloud-based backups of your data as well a top-notch plan of response should an attack occur.
If your data and applications are run on servers that are end-of-life or no longer have security support or patches, it may be time to consider upgrading. These systems put your company data at risk far more than you may realize.
43% of cyberattacks are now aimed at small businesses, according to CNBC. And those attacks can cost upwards of $200,000 or completely run a small company out of businesses. Staying on top of IT security, patches, firewalls, disaster recovery, and backups is now more important than ever.
The numbers vary depending on who you ask, but the end result is the same. Many cyberattacks infiltrate businesses because of human error, whether it is a missed patch or a staff member falling for a phishing email. Educating employees on how to spot security issues and phishing scams is an important part of your IT strategy.
Having the right IT plan in place can prevent you from falling into the same traps as other SMBs or even large corporations. Cybersecurity and IT strategy are key to keeping your business data and systems safe and functioning, eliminating the risk of downtime and unexpected problems.
NexusIT Consultants work with businesses like yours to create an IT strategy custom fit to your needs. From managed and co-managed IT services to consulting and cybersecurity, we are here to make sure you don’t become part of the statistics.