The average business stands to lose $1 million USD or more from a successful attack; anything you spend to prevent a loss of that magnitude could save your company from disaster and unnecessary expense in the future. The average company will take between 7 and 180 days recovering from a ransomware attack. Many companies will fail. Don’t put yourself in that position.
To mitigate the risks to intellectual property, companies should consider enacting policies that monitor and audit access to sensitive information in order to identify a potential cyber-attack. Constant vigilance as to who has access to secure information and how this information is secured remains an integral mitigation strategy.
The need to stay “in the know” is imperative. There are several practices based on individualized company evaluations that can help predict potential threats. Gap Analyses, Risk Assessments, Vulnerability Scans, Penetration Testing, Disaster Response and Business Continuity Plans, Policy and Procedure Reviews, and Tabletop Exercises are imperative to determining the likelihood of a cybersecurity attack and closing holes in the attack surface. Companies should go to their counsel, managed services providers, and cybersecurity IT firms for more direction on this sort of work. For companies without access to these resources, Tier1 Mx has all of these components under a single roof.