Why Businesses are moving to MSPs with better Cybersecurity

Businesses are moving to MSPs they feel have better Cybersecurity Services Recovering from a cyber-attack can be nearly impossible with the endless reports showing businesses being shut down; sometimes for good, and within a short period of time from the attack. As a result, more business leaders are recognizing why Cybersecurity is one of the most crucial components of IT, and are investing accordingly. So, how “good” does your company’s cyber protection need to be, to keep your business threat free? Some people still think that comprehensive cybersecurity comes from setting up an anti-virus or monitoring software. However, the reality is that cybersecurity is an ever-changing landscape, and while you may believe your defenses are sufficient, they may not be. Here is why companies with “good” cyber defenses are still vulnerable There are so many factors that can expose a business to cyber threats, examples include a lack of proactive efforts, lack of process, poor awareness, or inefficient training. You may be in a situation where you think your current service prevents cyber issues from happening in the first place, but they may just be putting out fires instead. When you invest less, what you are most likely getting is less protection, less diligence, and less proactivity. Anything considered “good” or comprehensive requires a substantial investment. Did you know that Cyber-threats increased by approximately 20x more than it did right before the pandemic happened? That is because some MSPs focused on getting their clients up and running to work from home and neglected to continue their cybersecurity efforts. With the lapse in attention to cybersecurity, we see many scams like phishing threats, spear phishing threats, and malware attacks regarding COVID-19. As if this is not alarming enough, pay attention to the following statistics.

• Cyberattacks cost SMBs on average $200,000.
• Most SMBs go out of business within 6 months of the attack.
• 75% of companies infected right now are already running up-to-date user protection.
• Ransomware increased 148% in March right before the pandemic.
• By 2021, 6 trillion is expected to be invested into cybersecurity.

What does cybersecurity have to do with your SMB and why should you care? This is the part where you think about your own business. All your hard work, the years of investment and the countless hours you have put into building an organization/brand that is really making an impact on the world. Then one day out of the blue, your company is attacked with Ransomware, and you have lost $200,000 to regain access of your data. How long could your business go without access to your data? Is it hours, days, weeks, never? How much would it cost for the downtime? Or better question, would your business ever be able to bounce back if you had to pay a ransom? This is another reason why business leaders are investing more in Cyber Insurance and it is becoming extremely popular as an extra layer on top of the extra layer of protection MSPs can offer. So, just like surgeons, MSPs are tasked with coming up with the right solutions to protect their clients with the right tools at their disposal to do so. You would need to do a fair amount of research before you chose one first right? Yes, that is true. The same applies with cybersecurity. You need to do your research before you make an investment, instead of taking a risk and learning the hard way. Businesses are choosing services that includes phishing protection, dark web monitoring and perimeter security because it is not worth spending less on a reactive, risky service. The reality is that technology-driven companies have been moving towards services that they feel can provide better cybersecurity. We have seen this within PACE Technical over the last 10 years of companies wanting to work with us specifically because of our unique process and ability to provide award-winning cyber solutions. If you think you are spending more for less services, then it is time to take an evaluation of the service that you have. What do you like about your existing service? Do you feel like you are getting the most out of your investment? Are there processes that you would change? Is the value of your investment being communicated with you often? What are your top 2-3 areas of risk, and has that been addressed or discussed with you? Are you losing sleep over your IT dollars because you are not sure if you made a smart choice? In Cybersecurity it is all about Detection, Prevention and Attention. We have built a process that is proven to deliver reliable cybersecurity even during unpredictable circumstances, take for example the current worldwide pandemic. While many other IT service providers might have felt the pinch, we exceeded expectations, and our clients can attest to how our team left them feeling equipped to take on the challenge of working from their homes. Ultimately, you want to choose a service that is not going to let you down, and won’t over promise on deliverables that they don’t put the time, resources and energy into, because they’re too small, charge less, or lack experience. Really take the time to evaluate your current cyber solutions/services, because cybersecurity can either break or build your company. For more resources on cybersecurity solutions for your business, please visit our web page here. Connect with our team to get a free demo of our unique PACE Technical Client Portal and see for yourself how we do cybersecurity Undeniably Better!