CEOs are understandably hesitant to throw a lot of money into their IT department because the ROI is more difficult to estimate. That said, though, consistently updating your company’s IT services is becoming increasingly crucial to the continued success, and indeed safety, of your company. Ransomware and other cyber-attacks that steal company data are becoming more frequent and more costly, while IT departments continually get the short end of the budgetary stick.
With a set budget, you may feel you only have a small amount you can invest back into your IT department. While it may seem difficult; there is a solution that your business can take advantage of. You can gain access to the most up-to-date IT knowledge and software while also not having to shell out the funds necessary to update your systems and hire more knowledgeable employees by working with a co-managed IT service provider.
Co-managed IT is a flexible system for keeping data for your company, employees and clients safe from cyber-attacks as well as assisting in your daily operations where needed. Think of it as “filling in the gaps” that your current IT department struggle to fill.
For instance, say your current IT department is great at taking care of the day-to-day fires that inevitably come up in a normal workday, but they struggle to get to the “important but not urgent” task of updating your company’s cyber security and creating data backups. Maybe it’s the other way around, where your IT department is very focused on security, but they struggle to find time to assist employees with password resets and buggy programs. Maybe neither of these cases describes your IT department, but they still need better access to the tools and software that would allow them to reach their full potential in protecting the company’s sensitive information. Or maybe your company is going through a period of rapid expansion, and you just don’t have time to build the kind of IT infrastructure that would best serve your needs.
Regardless of what your IT department’s current needs are, co-managed IT is the solution. We’re here to do the tasks and provide the tools that your current IT department just can’t provide. Make no mistake, however: our intent is not to replace your current IT leader or team. In fact, we rely on the expertise that your IT department has about your systems. That’s what makes up the “co” in “co-managed IT.”
In order for co-managed IT to work, your company’s IT department will need to see us as an ally in doing their job, not as an adversary. At the same time, they’ll also need to be open to new ways of doing things. The world of cyber security is constantly changing, and if your IT department is set in their ways and unwilling to budge, your company will be left with an antiquated system, chock-full of valuable data that hackers and cybercriminals can easily exploit.
Finally, however, in order for co-managed IT to work, your company still must be willing to invest in its IT department. We know that the ROI might not be as clear as it is for some other investments, but trust us, the consequences of not having up-to-date IT services if (or when) hackers steal your sensitive data could financially devastate your company – or even end it altogether.
So, with that in mind, we hope you’ll consider the benefits of co-managed IT and how it can make your company safe from cyber-attacks and bring you peace of mind.
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).
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
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.
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.
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.”.
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
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.”