Cybercrime is on the rise, making companies pay with money, time, and damaged reputations. It’s essential to batten down the hatches and make sure your company is as safe as possible. Here’s why.

For many companies, cybersecurity isn’t at the top of the to-do list.

For small and large businesses alike, however, strong cybersecurity measures are no longer an option – they’re a must if you want your business to survive and thrive.

The data makes it clear that cyberattacks are on the rise.

Since the COVID-19 pandemic began, cyberattacks have been going up, with online scams spiking by over 400% in March 2020 compared to previous months. And even well into the pandemic, these numbers continue to increase: In Q3 2021, the number of data compromise victims was 40 million higher than Q1 and Q2 2021 combined (which saw just 121 million victims). With the numbers higher than they’ve ever been, it’s essential for companies to recognize the ramifications of cyberattacks and the importance of cybersecurity.

A cyberattack can impact your company in more ways than one.

The average financial cost of a malware attack on a company is $2.6 million, while the cost in time of a malware attack averages out at 50 days. While the risk is often higher for small businesses, no one is exempt – well-known companies like CNA Financial, Colonial Pipeline, and Microsoft fell victim to hacks and breaches in 2021. If your company falls victim to a cyberattack, you’ll have to pay in money, time, and what might be irreparable damage to your reputation. Adopting a forward-facing mindset toward cybersecurity will set your organization up for success. By 2024, organizations that use a cybersecurity mesh architecture will reduce the financial impact of security incidents by an average of 90%.

HYBRID WORK IS THE FUTURE – BUT IT COMES WITH RISKS

Many companies transitioned to partially or fully remote work in 2020.

And even as businesses open back up, many corporations don’t plan to get back in the office anytime soon. 12% want to remain remote full-time going forward and 35% of office employees will continue working from home two to three days a week. Hybrid work structures have a lot of benefits. But when it comes to cybersecurity, remote work also leaves your company more vulnerable. 42% of work-from-home employees in the U.S. say they don’t have antivirus installed on the device they use most for work. What’s more, 88% of remote workers don’t disable remote access when they aren’t using their computer for work. And 22% don’t use enterprise-grade passwords.

These numbers should be highly concerning. With cyberattacks becoming more frequent and more malicious, it’s your responsibility to do everything you can to keep your company safe. Protect your data – and your customers’ data – by educating your employees about the importance of cybersecurity and selecting the best cybersecurity solutions on the market.

Protect your data with Stablenet’s Business Continuity Service. We will provide you with a free technology cost assessment to determine the best disaster recovery plan based on your current procedures, offsite needs, critical network devices and of course, your budget.

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