Cybersecurity is a full-time job. And given the ever-growing threat landscape, this job is getting more demanding and more challenging. Nowadays, maintaining a secure digital footing in any industry requires so much skill, resources, and willpower that juggling cybersecurity and everyday business operations become difficult. This juggling is why many companies outsource IT security to dedicated managed service providers.
But there’s so much more to working with an IT partner than simply offloading IT security. An IT solutions provider enhances your security posture to protect your business from threats and the implications associated with cyberattacks. Let’s look at the main perks of partnering with a managed security provider:
Guards your profits
Cyberattacks such as ransomware, phishing scams, and malware injections, are motivated by financial gains. Even when a cyberattack victim doesn’t lose money directly to the attacker, the ensuing damages can still take a heavy financial toll.
Today, the average cost of a data breach is about $4.24 million, and it goes up every year. Businesses lose money to successful data breaches through the following ways:
- Operational downtime
- Loss of business and missed opportunities
- Loss of intellectual information or trade secrets
- Legal action
- Clean-up and recovery costs
Data breach-related financial losses can severely cripple a business’s performance and growth even long after an attack. Having a cybersecurity expert by your side can help prevent data breach incidents and their heavy financial consequences. Some of the ways an IT service provider achieves data security include:
- Installing and controlling robust network security
- Encrypting static and in-transit data
- Securing access points and user authentication systems
- Setting up data backups and disaster recovery plans
Preserves your brand’s reputation
Financial loss is not the only, or the biggest, blow from a successful cyberattack. Suppose you have a large enough pool of funds. In that case, you can throw enough money at a data breach to resolve monetary issues. Still, it’s nearly impossible to clean up a damaged brand reputation.
Customers are less likely to trust your company after a cyberattack, especially one involving the loss of sensitive customer data. Understandably, people will be reluctant to share their data with your business due to the lack of confidence in safety. Earning back consumer trust after a cyberattack is a tall order. So, it’s best not to lose it in the first place.
Data protection and privacy is a sensitive subject in today’s data-centric world. Working with a third-party cybersecurity partner ensures data security and shows that you’re prepared to go the extra mile in safeguarding customer, user, and corporate information.
Protects your workforce and customers
According to Statista, over 155 million individuals had their sensitive records exposed during data breach incidents in 2020. Threat actors often seek personally identifiable information (PII) records such as social security numbers, banking details, passport numbers, addresses, and contact information. They either sell or use to perpetrate more targeted attacks and frauds. So having a poor cybersecurity infrastructure puts your employees’ and customers’ safety at risk too.
A professional cybersecurity service provider understands all the risks potential threats pose. Working with an MSP helps bring the human element on board with cybersecurity, strengthening it as a defensive pillar while protecting it from threat actors through:
- Conducting regular cybersecurity risk assessments
- Checking the hardware and software status on endpoint devices
- Offering regular employee training
- Securing customer touchpoints
- Ensuring data safety and privacy compliance
Is your business correctly prepared to defend against a range of threats? If not, you’re putting your revenue, reputation, and people at significant risk. Like any reputable IT provider, KME Systems can help you protect your business along with its resources and community from cyberattacks. If you have any doubts about your security, contact KME today to get the much-needed peace of mind.