With 4,000 data breaches reported in the first half of 2019 alone, it’s clear that cyberattacks are on the rise. And with the average cost reaching $US 1.41m for enterprise-level companies and $108k for small and medium-sized companies (SMBs), hackers are causing critical damage to businesses all over the globe. So how can you protect yourself, and your business, against cyberattacks?
Kaspersky’s IT Security Economics in 2019 report has the answers
Common cybersecurity threats, how much they’ll cost you, and what you can do to defend against them. Kaspersky’s IT Security Economics in 2019 report gives you the state of play from the frontline, with nearly 5,000 interviews with IT professionals from 23 countries. Here’s the topline findings:
66 percent of all businesses surveyed are investing in specialist IT staff
Of the 4,900 people surveyed, over half noted that the burgeoning amount of high-profile data breaches has kick-started big IT investments. No surprise then to know that, according to Gartner, worldwide IT spending is set to total $3.7 trillion in 2019.
So, according to the professionals, where should your business be spending your security budget? (That’s assuming you have one.) Among other things, one of the biggest trends is the growing popularity of Security Operations Centers (SOCs). And it’s paying off. Enterprise-level businesses who’ve built SOCs – responsible for monitoring security events and incident response – estimate financial damage from a cyberattack at $675k, which is less than half the average impact cost for other enterprises ($1.41m).
Data breaches are costing more now than ever before
It’s no secret: hackers don’t have a maximum limit. How your business is protected, or more importantly what it’s protecting, dictates how much you can lose. But one thing’s crystal clear: the cost of a data breach is on the rise. So, what price could your business pay? And more importantly, if you don’t get hacked, what would that extra cash buy you?
Businesses need to take cybersecurity seriously
Data breaches can happen to any business. But, with insight, intelligence and the right technical solutions, you could dramatically reduce the chances of it happening to you.