Technology Security: 4 Reasons You Need a 360-Degree Approach
Only 38% of organizations are prepared to handle a sophisticated cyber-attack. Is your team falling behind in creating a comprehensive approach to cybersecurity?
Not all security threats approach your business through the same attack vector, and your cybersecurity presence needs to be up to the challenge. With security professionals admitting that it’s no longer a question of “if” your business will fall victim to cybercriminals but “when” and the cost of attacks continuing to rise, it’s vital that you create a 360-degree barrier around your business technology. Creating a risk-aware workplace is the first step, but creating a robust training schedule for your staff will only take you so far. From protecting your endpoints to providing a more robust security structure for your business data, these are 4 reasons to create a comprehensive approach to cybersecurity.
1. Organizations Using Security Automation Save $1.5 Million Per Data Breach
One of the key tenets of 360-degree cybersecurity includes a component of automation, which has been shown to provide a higher degree of resilience for your business. According to the Ponemon Institute’s 2018 Cost of a Data Breach Study, businesses that had fully deployed automation for their security could save a significant amount versus those organizations that weren’t fully automated — $1.5 million per data breach in savings, to be exact. This type of automation includes everything from machine learning, analytics, artificial intelligence to orchestration in an effort to augment or replace human intervention.
2. The Cost of Cybercrime Will Exceed $6 Trillion by 2021
If you haven’t been following the dramatic increases in cybercrime impact over the past few years, it might surprise you to learn that the expected impact of cybercrime globally will exceed $6 trillion over the next few years. Shockingly, this dollar amount exceeds the value of the illegal drug industry and illustrates the economic losses that will impact businesses in the future. The cost of lost productivity, intellectual property, investigative costs, theft of personal data and stolen money are only a small part of the costs associated with cybercrime. Businesses also risk direct revenue losses from damage to their reputation, remediation for any vulnerabilities as well as any potential litigation from individuals or business partners.
3. 20% of Companies Don’t Know if Their Endpoints Are Secure
Hackers can easily wreak havoc on your business, but there’s no point in making it easy for them. There is a significant percentage of businesses that are unsure about the state of their endpoint security — a frightening statistic when you consider how quickly a cybercriminal can gain access to your business network simply by logging in through an unsecured device or access point. However, 20% of businesses that are unclear about their endpoint protection pale in comparison to the 42% of businesses that have already seen their endpoints compromised due to a lack of adequate security solutions and procedures.
4. It Can Take 6 Months to Identify a Data Breach
Did you know that businesses are taking an inordinate amount of time to identify that a breach has even occurred? Healthcare organizations are taking the longest to make the determination that their data has been compromised, with a timeline that averages 236 days according to a Ponemon Institute study. During that time, the personal and financial data of your customers and any confidential business data may be available for sale on the dark web or being leveraged to create new identities for criminal elements. Plus, you’ve got an open vulnerability that hasn’t been identified which can open your business to additional cybersecurity risk. Organizations that are actively scanning for vulnerabilities and breaches can more quickly catch any problems and begin remediation work to reduce the overall cost and exposure to the organization.
A proactive approach to cybersecurity doesn’t happen overnight but takes significant time and effort on the part of both business and technology leaders. At Kyocera Intelligence Mid-Atlantic, we work with large and small organizations from Washington, DC and Baltimore, MD to Philadelphia, PA and southern New Jersey to provide a comprehensive approach to cybersecurity that your business needs to be successful. We thoroughly review the needs of your business to ensure we have a complete picture of your needs before making any recommendations. Contact the experts at Kyocera Intelligence at 800-875-8843 for more information or fill out our online form to request a free initial consultation from our team of security professionals.