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Cybersecurity has become an increasingly essential component of any company’s technological environment, especially as more and more businesses move over to the Cloud and other file-sharing programs. Although cloud services are generally more secure than traditional IT infrastructures, they are not impenetrable and, like anything else, have risks associated with them.
This is why many companies are making cybersecurity their #1 IT priority and, in many cases, trusting MSPs with their cybersecurity concerns. These five statistics emphasize the importance of securing your company’s data. We've also outlined these statistics into a helpful infographic below!
1. $6 trillion: Annual cost of global cybercrime damages by 2021
The annual cost of cybercrime damages has been climbing in recent years and is expected to continue to increase in the next four years. Cybersecurity breaches are becoming more frequent and more expensive, and this trend is not expected to change anytime soon.
2. 4,000 ransomware attacks occurred per day in 2016
Ransomware is one of the fastest growing trends in malware, but not many people realize how commonplace it actually is. Thousands of attacks occur every day, which is a huge threat to any business, especially those that would be in a vulnerable financial position if attacked. It’s always better to be proactive than reactive when it comes to the security of your data and technology networks.
3. 140,000 hard drives crash each week in the United States
Without a business continuity or disaster recovery plan, many businesses are left in the dark after an outage. This can result in the loss of thousands of dollars due to operational downtime, in addition to the cost of repairing drives and recovering data.
4. 44% of businesses estimate they could lose $10,000 or more during just one hour of downtime
Operational downtime is one of the lesser known evils of a cybersecurity breach. While the cost of drive recovery or damages from data loss may seem like the most expensive consequences of a breach, just one hour of operational downtime could mean more financial losses for a company than either of those.
5. 64% of patient medical files were successfully targeted by cyber criminals in 2016
Although this statistic may only seem relevant to the healthcare field, it shows a dangerous trend: that businesses do not have strong enough privacy settings and are not up-to-date on compliance. While compliance regulations may seem most relevant to healthcare businesses, basically every vertical industry, from legal and financial solutions to education, have strict government and confidentiality regulations to follow. A breach in security would be detrimental not only to clients but to the business as well.
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No technology is perfect and, with all the advantages and efficiencies associated with technological advancements, there are also inevitable drawbacks. In many cases, a proactive approach can help mitigate or avoid these drawbacks, from cybersecurity breaches to system outages.
Because of rising cybersecurity risks, the number of companies outsourcing their IT needs to MSPs continues to increase. This is a simple, quick and proven way to reduce these risks and minimize any potential losses, financial or otherwise.
