There are many reasons why any sensible business owner should have a managed services provider (MSP) watchdogging your IT network security. With cyber threats like ransomware, HIPAA compliance, PCI compliance, and cloud vulnerabilities outlined by OWASP a major issue in the IT world, business owners need to be duly diligent when it comes to their data center security, as well as business continuity.
Adding and training extra personnel in the form of an IT department is expensive. Many SMEs are seeing the advantage of hiring already-skilled and trained technicians in the form of a trusted MSP that acts as an outsourced IT department with a turnkey solution to information technology and network security concerns. An experienced managed services provider can actually be much less costly than expanding your company’s in-house payroll, and simply makes more sense. Here’s why:
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
The internal team was energized. With the Level 1 work off its plate, the team turned its attention to the work that fueled company growth and gave them job satisfaction.
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.
We did a proof of concept that met every requirement that our customer might have. In fact, we saw a substantial improvement.
We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.
“We believe our success is due to the strength of our team, the breadth of our services, our flexibility in responding to clients, and our focus on strategic support.”