Protecting your business from cyber threats is more challenging today than ever. The threat landscape is growing at an alarming rate and damaging attacks are evading traditional defences. Technology alone can no longer be relied upon to safeguard your business against the latest threats, which can steal vital data and inflict severe financial and reputational damage. Cyber criminals are determined and frequently change their tactics to evade signature-based defences such as firewalls and anti-virus software. A comprehensive approach to security that works for all businesses is needed.
Dealing with advanced threats
Across the world, targeted attacks on small and mid-market businesses are on the rise. According to a recent UK government survey nearly three quarters of small organisations reported a security breach in 2015. It’s estimated that many more might be compromised without even knowing it. A major problem for mid-market businesses is how to deal with the same threats facing larger organisations but on a tighter budget. An effective defence strategy requires the right mix of people, technology and processes but these require significant investment. What mid-market businesses need is a flexible and cost effective way of bridging the resource gap without having to spend significant sums of money on solutions that, without the appropriate expertise, can be ineffectual.
A growing reason for concern
With fewer resources at their disposal, it’s of little surprise that mid-market businesses are being singled out for attack over large enterprises. But it’s not just weaker defences that make them a prime target. Many smaller, innovative businesses including tech start-ups are attractive to criminals interested in stealing intellectual property and research. Mid-market businesses in a supply chain can also be targeted as a ‘route to a bigger prize’ based on their relationships with larger organisations. Mid-market businesses that fail to take cyber security seriously should consider the financial implications of an attack on their business. Reputational damage, customer churn, failure to win new business, litigation, as well industry fines, are just some of the repercussions of an attack. According to research, the average cost of a security breach can cost a small or mid-market business over £300k. For some businesses of this size, detecting and responding appropriately to attacks can be the difference between successful defence and going out of business.
A flexible and cost-effective solution for threat detection
Mid-market businesses worried about managing cyber security risk should consider enlisting the support of a Managed Security Service Provider (MSSP) to help supplement existing security monitoring capabilities to address gaps in advanced threat detection and incident response. Acting as a virtual extension of an organisation’s IT department, an outsourced team of dedicated security professionals reduces the need for businesses to invest in in-house technology and professionals, which analysis has shown can be up to four times more expensive than a managed service. By adopting the latest tools and methodologies used by cyber criminals, and conducting regular risk assessments and penetration tests, an MSSP can help to highlight security vulnerabilities in an organisation’s systems and processes. For businesses that need to comply with regulations and standards such as PCI-DSS, ISO 27001/2 and Cyber Essentials, such services are essential. Delivered via a Secure Operations Centre, many MSSPs also offer a 24/7 managed detection and response service that can save organisations time and effort by proactively monitoring and analysing threats, removing false positives, and providing remediation advice. With such a comprehensive range of flexible and easy to deploy services offered at just a fraction of the price it would take to set up and maintain equivalent operations in-house, it’s little wonder that leading mid-market businesses across all sectors are turning to MSSPs to provide the level of protection enjoyed by much larger organisations.
Redscan Cyber Security Ltd is a Managed Security Services Provider (MSSP) helping businesses of all sizes defend themselves against today’s increasingly sophisticated cyber-attacks. By utilising the latest technology and adopting the mind-set of the adversary, Redscan’s team of security specialists are expertly equipped to challenge the defences and incident response capabilities of any organisation.