Does Your Business Need Managed Cybersecurity Services?

In 2023, cybersecurity has become the main concern for many businesses, and for good reason. According to recent reports, the global cost of cybercrime is expected to reach $10.5 trillion annually by 2025.

Cyberattacks are becoming more and more sophisticated, and the need to protect valuable business data has never been more serious. But with so many cybersecurity options out there, it can be tough to know what’s best for your business. That’s where managed cybersecurity services come in!

In this article, we’ll go over what managed cybersecurity services are and how they can help protect your business from cyberthreats. We’ll also cover some of the most important things to keep in mind when it comes to cybersecurity, such as data backups, cybersecurity insurance, and employee training.

The Importance of Data Backup

One of the most critical aspects of cybersecurity is data backups. Without proper backup, your business is at risk of data loss due to cyberattacks, natural disasters, or other unexpected events. Data loss can have a devastating impact on your business, resulting in lost revenue, downtime, and damage to your reputation and customer trust. That’s why having a solid data backup strategy in place is absolutely essential.

Real-world examples demonstrate the importance of cybersecurity measures and the potential risks of not having them in place. Here are a few well-known cases of businesses that suffered major data breaches:

    • Target: In 2013, Target experienced a massive breach that exposed the personal information of 110 million customers. Cybercriminals were able to steal credit card information through a vulnerability in Target’s payment system.

    • Equifax: In 2017, a vulnerability in Equifax’s website software allowed cybercriminals access to the personal information of 147 million customers.

    • WannaCry Ransomware: In 2017, this ransomware attack infected hundreds of thousands of computers in over 150 countries. The virus would encrypt files on the infected computer and the user had to pay a ransom to unlock them.

Even if you’re a small business, you’re still very much at risk if your business’ data isn’t properly backed up. Small companies that experience a data breach can lose a lot of money due to downtime. On the other hand, if your business’ data is backed up, it’s a good idea to take additional steps to make sure it’s as secure as possible.

For example, is your data stored off-premise? Is it stored on outdated equipment that can crash? Or is it stored on unsecure servers? An IT expert can help make sure all of your boxes are double-checked in the event of a disaster.

Cyber Insurance Considerations

Another important part of cybersecurity is insurance. Having cybersecurity insurance can help protect your business from financial losses in case of a data breach or cyberattack. However, figuring out the right cyber insurance can be hard, especially for small businesses that may lack the expertise or resources.

This is where managed cybersecurity services can be a major help. These services can assist you in navigating the cyber insurance world and meeting all your compliance needs. Compliance with relevant regulations and laws is crucial for businesses across many different industries. Here are a few regulations and laws that all organizations should know about:

    • GDPR: The General Data Protection Regulation (GDPR) is a European Union regulation that governs data protection and privacy for EU citizens. Businesses that handle EU citizens’ personal data must comply with GDPR.

    • HIPAA: The Health Insurance Portability and Accountability Act (HIPAA) is a US law that governs data protection and privacy for healthcare information. Healthcare providers and organizations that handle healthcare data must meet all HIPAA regulations.

Working with an experienced managed cybersecurity provider can help businesses avoid costly fines and legal issues. Managed IT support can help you reduce your cybersecurity insurance premiums, stay up to date on insurance requirements, and implement more efficient processes for the future.

Employee Training for Cybersecurity

Your staff is your first line of defense against cyberattacks. However, many employees aren’t trained to spot and handle cyberattacks. A lack of employee cybersecurity knowledge can leave your company open to threats.

There are a few key reasons why regular employee training is important for any cybersecurity plan:

    • Awareness: By teaching workers about common cybersecurity risks and best practices, they become more informed about potential threats and how to avoid them.

    • Protection: Social engineering attacks, such as phishing, rely on tricking employees into revealing sensitive information or clicking on dangerous links. Educating your team can lower the risk of these attacks.

    • Preparedness: If a cybersecurity event happens, trained workers are better suited to act quickly and effectively, reducing the potential impact of a data breach.

Overall, employee training is a fundamental part of any reliable security plan. Managed cybersecurity services can help make sure that your employees receive regular training by providing education and support on how to prevent cyberattacks.

Additionally, managed cybersecurity services (like Fusion’s) can help you create a documented plan for responding to cyber incidents. This can minimize the effects of an attack and ensure that your business is back up and running as soon as possible!

Safeguard Your Business from Cybersecurity Threats

In today’s digital landscape, cybersecurity is fundamental for all businesses. With the number of cybersecurity threats increasing daily, it’s essential to stay up-to-date with the latest security measures and best practices. Here are some of the key steps you can take to safeguard your company:

    • Zero Trust Architecture: Zero Trust is a security model that assumes all network traffic, both inside and outside the organization, is potentially dangerous. It requires users and devices to be authenticated before accessing any resource, regardless of location. Implementing a Zero-Trust architecture can help to mitigate the risk of both internal and external threats.

    • Multi-Factor Authentication (MFA): MFA is a security measure that requires users to provide two or more forms of authentication to access a system or application. This could include a password and a fingerprint scan, or a password and a text message code. Implementing MFA can significantly reduce the risk of unauthorized access, even if a password is compromised.

    • Cybersecurity Incident Response Plan: Having a cybersecurity incident response plan can help businesses respond quickly and effectively to a cybersecurity incident. It should include clear guidelines for identifying and containing a breach, notifying the appropriate parties, and implementing remediation measures. Regularly reviewing and updating the plan is also important.

    • Our managed cybersecurity services include a dedicated Security Operations Center (SOC), providing around-the-clock surveillance of your network. This SOC uses advanced technology and skilled professionals to detect, analyze, and respond to cybersecurity incidents in real time, ensuring your business’s safety 24/7.

While there are many ways to approach cybersecurity, managed cybersecurity services are the most effective way for businesses to ensure they take all necessary steps to protect their data.

Greenville-Based IT Managed Cybersecurity Services

At Fusion Managed IT, we offer a variety of managed cybersecurity services to keep your business secure and compliant. Our team of experts will work with you to develop a comprehensive IT roadmap that aligns with your business goals and needs. We’ll create a plan tailored to your unique risks and vulnerabilities to ensure the best protection.

Our team will continuously monitor your systems for potential threats, implement security measures, and provide regular training to your employees to ensure they are equipped to identify and respond quickly to cybersecurity incidents.

Don’t leave the security of your business up to chance. Visit our cybersecurity services page to learn more about our solutions and how we can help protect your organization from cyber threats.

Author: James Michalak

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