From 2020 to 2021, the number of ransomware attacks on organizations increased by 78% and more than 10% of those attacks resulted in ransoms of $1 million or higher. According to the Sophos State of Ransomware 2022 report, ransomware attacks take an average of one month to fully recover from and frequently result in downtime and loss of revenue, the impact of which leads to an average recovery cost of $1.4 million. That’s about 640 vacations to Disney World. The cost of skimping on security is great.

While you could take your entire team to Disney World for a week, possibly even a few times over, a better idea might be to invest in preventing a security breach in the first place. Be it ransomware, a phishing attack, or an insider threat, proactive threat and risk prevention takes dedicated time, well-trained people, and cutting-edge technology, so it is no surprise that it can be confusing and costly. As we’ve already seen, it can be even more costly to ignore those risks.

Keeping Up with Technology

It took 2 million years for humans to progress from the first tools to discovering fire, yet it only took 130 years to go from the telegraph to the internet and another 33 years to get to the iPhone. Technology now changes at a blistering pace and, alongside that thrives the unfortunately fruitful business of cybercrime. One of the most critical factors in combating this is having, understanding, and fully utilizing the latest technology. Based on Gartner’s 2022 report of Top Strategic Trends, some of the newest technologies that will impact the cybersecurity field include:

  • Cybersecurity Mesh: A scalable, integrated architecture that enables security tools to work cooperatively throughout an environment
  • Autonomic Systems: Self-managing systems that take in information from the network to modify algorithms without manual updates, allowing for rapid changes and scalability

“By 2024, organizations adopting a cybersecurity mesh architecture to integrate security tools to work as a cooperative ecosystem will reduce the financial impact of individual security incidents by an average of 90%.”

Source: Gartner

Partnering with the Experts

The Cost of Skimping on Security in 2022

Whether you are intimately familiar with the concepts presented here or they sound like something from the USS Enterprise, partnering with experts is what will give you an advantage over bad actors and cyber criminals. Admittedly, most organizations struggle to keep up with regular patching, let alone investing the time and resources into implementing these types of technology. While cybersecurity and understanding cyber risk are likely not your area of expertise, working with a trusted partner can ensure that your online business and IT landscape are as secure as technology and expertise allow. Having security that stands up to the worst of ransomware, hackers, and more is a must.

The criminals don’t take a break, so your security monitoring can’t either, which is why it is critical to have both the technology to meet the needs of today’s risks as well as the people to understand, implement, and manage that technology to its fullest potential. Aunalytics has you covered. With expert toolsets and talent, your business can depend on us to have highly trained professionals and the newest technology and information to protect your business in the ongoing threat landscape.