This article is taken from our data backup partner.
It’s tough on the cyberwar front. According to IBM, business losses due to cyberattacks averaged $1.52 million in 2020. Data breach incidents cost the US $8.64 million the same year. No wonder businesses are spending more on cybersecurity as they attempt to protect themselves. In fact, the average business spend on security increased from $2,337 per employee in 2019 to $2,691 in 2020 according to Deloitte.
But cyberattacks aren’t the only potentially devastating business threats. Every business still faces the very real threat of data loss or downtime caused by everything from natural disasters to hardware failure to user error. Downtime alone can cost a business up to $5600 every minute according to Gartner.
So, with cyberattacks a constant threat and the ever-present danger of downtime and data loss, what can a business do to reduce its risks? Let’s look at why businesses need a comprehensive strategy that accounts for potential cyberattacks as well as issues that cause downtime or data loss.
Cybersecurity: Keep Threats at Bay
It all starts with keeping the bad folks out. Whether you’re a small business or an enterprise, you probably have basic security solutions like:
Antivirus and anti-malware