CIOs today are most concerned about data security and cybercrime. It’s no wonder. Mid-sized businesses are major targets for hackers. Plus, when a data breach occurs, their customers are often so angry that the take their business elsewhere. This can be the “kiss of death” for any company no matter the size.
Your customers are concerned about the security of their data. No matter how good your service or products, if their confidential data is revealed due to your negligence they’ll just go to your competitors.
Are You Prepared For A Cyberattack?
Many mid-sized businesses aren’t. In fact, 31% don’t have a plan to respond to a cyberattack, and 22% lack the expertise to develop one. According to a report in Tech Republic, 71% percent of small and mid-sized businesses aren’t prepared for cybersecurity risks, even though 96% believe they are susceptible.
The report also found that nearly 2/3rds said they believe it would be more difficult to restore their company’s public image and to regain employee trust and morale if they were attacked.
If this surprises you it’s probably because you’re uninformed. It’s not your fault. The media tends to only cover attacks on large enterprises and government agencies. Attacks on mid-sized businesses like yours aren’t newsworthy (probably because there are so many).
Have You Made Plans For A Cyberattack That Disrupts Your Business?
What would you do if one happened right now? Downtime isn’t acceptable. Here are the consequences:
- Idle Employees
- Lost Productivity
- Lost Revenue
- Disgruntled Customers Who Go To Your Competitors
Cyberattacks Not Only Affect Your Customers But Your Relationship With Other Companies You Do Business With
What the media ignores is that attacks on mid-sized businesses present a conduit to larger ones. This is what experts believe happened to Target when they were attacked, leading to the exposure of 40 million accounts.
So, when considering your businesses cybersecurity, not only should you be concerned about losing your customers, but you could also be losing the good relationship you have with larger enterprises. This is the double-edged sword that kills so many mid-sized companies.
Have You Invested In IT Security As You Should?
What does all of this mean? You must be certain that you’re on top of your IT infrastructure’s security and be able to prove it, or you risk losing customers and contracts with business partners.
If you think investing in IT security is too expensive, the opposite is true. You can’t afford not to because the consequences of a data breach can be devastating to the future of your company.
CIOs of mid-sized firms must keep on top of all the IT security strategies available to them to protect their infrastructure. The CIOs of large enterprises know this and practice it daily. Are you?
For help setting up your IT Infrastructure Security and a Plan to respond to a cyberattack, contact the cybersecurity experts at ICS.