How SMBs Can Stop Damaging Cyberattacks and Reduce Downtime

A small- to medium-sized business (SMB) with no current cloud solution would face many hardships if a cyberattack were to occur. Grant Howe, Chief Technology Officer, ECI Software Solutions, discusses how by investing in a cloud-enabled business management solution, these businesses can reduce their downtime and gain access to dedicated cloud service professionals, all at a much lower cost than trying to handle the breach themselves.  

Gone are the days when a small- to medium-sized business (SMB) could rely on a simple deployment of a firewall and antivirus software to act as its front line of defense against ransomware and hackers. As technology has become more sophisticated, so have the threats against data and proprietary information. According to Cybersecurity in the Remote Work EraOpens a new window , 29% of SMBs don’t have or are unsure if they have an incident response plan to respond to data breaches and cyberattacks. Though some people may be tempted to assume less is more, when it comes to security, you can never be too careful or prepared. 

SMBs need to deploy servers and networks for suspicious activity more than ever before. An effective security plan often includes:

• Proper configuration of defenses.
• Hardening of the environment.
• Monitoring reports of new types of attacks to respond efficiently and effectively.

Additionally, a full data recovery plan should be developed in case of a breach. However, for many businesses, it’s challenging to do that on their own. That’s why relying on the cloud-enabled business management system is more beneficial than ever.  

Here are three reasons to consider the cloud and a business management system in case of an attack. 

1. Reduce Downtime 

Hackers have become much more sophisticated and business-oriented in recent times. Ransomware attacks, which attempt to extort money from companies by encrypting their data and operations, have become more prevalent in recent times, specifically in the work-from-home period. Hacking has evolved from secret operations targeted at financial and identity theft to well-organized, large-scale operations with bases in countries where  U.S law enforcement cannot intervene. These sophisticated hackers generally use an untraceable currency like bitcoin, which the government does not regulate. Attacks of this nature cause hours, if not days, of downtime for businesses across the country. 

The impact of downtime on small businesses is also more expensive than ever. Downtime in a business can be detrimental, sometimes shuttering a business for good. SMBs lose so much when they are experiencing downtime, including a loss in productivity, reputational damage, and potentially missed opportunities – all of which translate to lost dollars for businesses that can’t afford to lose anything. With a proper cloud-based solution, downtime can be reduced to virtually no time since attacks will likely be stopped before any part of the business even knows an attack is occurring.  

Learn More: Maximizing Cloud Security With a Shared Responsibility Model

2. Dedicated Service Professionals 

Having robust cloud security and a detailed data recovery plan is critical, but it can be challenging to afford to pay for the internal IT team a SMB would need to protect its assets. According to the same reportOpens a new window , only 39% of businesses believe that their staff has the expertise necessary to defend against attackers.  

Skilled IT staff with expertise in the cloud environment manage data centers, and they dedicate themselves to their customers’ applications. IT personnel from quality business management solutions in the cloud have relationships with hardware vendors, security consultants, and software providers to reach out to at a moment’s notice and receive an immediate response, even on holidays and weekends – meaning a breach can be handled quickly and efficiently. 

Learn More: Recoverware: A New Vision for Managing Enterprise Risk

3. Lower Expenses 

Maintaining the hardware itself can be very costly for SMBs, let alone when a breach has occurred! According to the previous report, only 45% of businesses believe they have the funds required to prepare for a cyberattack.

Unfortunately, responding to a cyberattack does not come cheap. Security breaches don’t just mean downtime for a business; it also means dollars lost when trying to fix the problem. By investing in the cloud-based management solution, a company’s resources can stretch further for a fixed monthly retainer, opposed to sinking costs trying to fix the problem alone. Some business management solution providers spend as much as six figures each on the devices to keep the cloud protected and secure against threats – a cost not many small businesses could afford to take on. 

If an SMB is operating on a cloud-based business management solution, their data security risks are significantly reduced. Cloud-based systems deliver stronger protections against cyberthreats than if a small business attempts to implement these on its own. Dealing with a security breach can be an annoyance for anyone, but investing in a cloud-based business management solution and setting a clear strategy with dedicated service professionals for how to deal with a breach if and when it happens, can reduce downtime and be more cost-effective – a win for any business.

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