The Numbers Don’t Lie: Current and Future Stats
Approximately 46% of cyberattacks target small to mid-sized businesses (SMBs) at 1,000 employees or less. With limited resources compared to larger corporations, these companies often lack robust cybersecurity measures, making them attractive targets for cybercriminals. If you’re one of the unlucky organizations to fall victim to a cyberattack, it could cost you anywhere between $826 and $653,587. This cost is a substantial threat to the survival of businesses, with around 60% of small companies going out of business within six months of a significant cyber attack.
Cybersecurity Ventures predicts that by 2025, the global cost of cybercrime could reach $10.5 trillion annually, up from $6 trillion in 2021. This increase signifies the growing threat of cybercrime to businesses of all sizes and industries worldwide. Furthermore, with the growth of the Internet of Things (IoT), it’s estimated that by 2025, over 75 billion devices will be connected to the internet, significantly expanding the potential attack surface for cyber threats. To get ahead, businesses will need to invest heavily in securing these devices to prevent breaches.
We’re not here to scare you, but to provide some actionable takeaways and steps you can implement to protect your organization.
Where to Start? 5 Steps to Better Security
Addressing cyber threats begins with understanding potential attack vectors – the avenues that attackers exploit to breach a network. Common vectors include phishing emails, ransomware, malware, social engineering, and insecure remote access, among others.
1. Risk Assessment
Organizations, especially those just beginning to invest in cybersecurity, should start by conducting a comprehensive risk assessment. This audit should map out your digital assets, identify vulnerabilities, and evaluate the potential impact of various cyber threats.
2. Secure Vulnerable and Valuable Assets
Once risks are identified, organizations should prioritize securing their most vulnerable and valuable assets, often through a combination of technical controls, policies, and staff training.
3. Staff Training
Regular staff training can go a long way in preventing successful attacks since human error often facilitates breaches. There are countless training resources across the web that you can utilize for your team, or reach out to a third-party cybersecurity or IT services company for help.
4. Invest in Robust Security Solutions
The next step is to invest in robust and multi-layered security and communications solutions, such as firewalls, encryption, antivirus software, and intrusion detection systems. Organizations should adopt a proactive approach to security by regularly updating and patching their systems, monitoring for abnormal network activities, and running periodic penetration testing.
5. Establish a Company Cybersecurity Policy and an Incident Response Plan
Organizations are strongly encouraged to establish a clear incident response plan to minimize damage if a breach occurs. Remember, cybersecurity is not a one-time event but an ongoing process.
BSB Communications can help build your cybersecurity program. Reach out to us today with your questions.
The Importance of Cybersecurity in Communications Solutions
As cyberattacks become more common, sophisticated, and aggressive, various channels of business communication like telephone calls, text messages, voicemails, video conferences, and file exchanges are becoming increasingly prone to security threats. (Notably, emails continue to be one of the primary attack vectors.)
Essential business operations such as communication, collaboration, and information sharing are becoming more dependent on cloud communications due to the growth of hybrid work, requiring seamless connectivity among users both within and outside the organization. The capacity of your organization to resist these cyber threats and prevent security breaches is a crucial element for its sustained success.
Elevate: Your Cybersecurity-Powered Cloud Communications Solution
BSB’s cloud communications solution, Elevate, prioritizes security through every feature and function. Elevate grants you access to consistent, cutting-edge business communication tools that integrate the latest security technologies, all at a reasonable cost. Elevate’s cloud communication tools empower small and medium organizations to enjoy the level of reliability and security that the most prominent Fortune 500 corporations experience. Our Triple Guard Security strategy employs a multifaceted approach to safeguard your sensitive data.
Triple Guard Security
It’s important to note that not all cloud service providers deliver equal levels of security. As an experienced cloud communications solution provider, we prioritize security above all else and have made significant investments in our certified security personnel and technologies to stay a step ahead of the ever-evolving threat landscape posed by savvy cybercriminals. Our Triple Guard Security mechanism shields customer data with layers of security technology, addressing three main areas of potential weakness: fortifying user access, securing applications, and defending data along with the cloud infrastructure.
Our Elevate solution provides the following security features:
- Infrastructure network & security
- Data protection & privacy
- Phone, devices & app security
- Monitoring & detection
- Security compliance
WEBINAR: Watch our 3-step approach to protect your unified communications platform.
Communicate Easily and Securely with BSB
Rest assured, your private information is secure with BSB. Our Triple Guard Security solution adopts a comprehensive strategy to safeguard your data, employing technologies that counteract potential areas of weakness. The functionality of the platform and the technologies it utilizes are routinely scrutinized and assessed by our dedicated security team. This ensures an exceedingly secure communication and collaboration environment that you can rely on to protect both you and your business.
Better security is closer than you think! Reach out to us today to learn more information.