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7 Ways Downtime Hurts Your Business

A recent survey found that 40% of small and midsize businesses (SMBs) experiences 8 or more hours of downtime due to a severe security breach within the past year. According to the National Cyber Security Alliance, 60% of SMBs who experience a significant data breach go out of business within six months. These statistics are sobering. For many SMBs, however, the risks still feel foreign and not something that warrants action. To protect your business requires some knowledge and good advice, intent, action, small investments.

It is easier to rely on myths such as, “We are not a target for cyber attackers”, “We can run on pen and paper until we recover”, and “Our customers will understand” than it is to assess your risks and take action. Nevertheless, the risks are real and the number of SMBs hurt by downtime continues to rise.

Here are seven ways downtime can damage your business:

  1. Monetary Cost — Downtime leads to lost sales and lost productivity impacting top-line revenue and your bottom line. These costs hit your pocket in addition to the cost of recovery and returning to normal operations.
  2. Customer Trust — When you are unable to serve your customers, they lose faith in your business. While downtime for natural disasters is understandable, today’s customers have little tolerance for disruptions due to cyber attacks and breaches. Lost trust means lost customers.
  3. Brand Damage — Your brand identity and reputation drives customer loyalty and growth. Service disruptions from technology failures or breaches sends a message that your business may be poorly managed and is unreliable. These messages lead to loss of goodwill and create negative impressions of your business in the minds of your customers.
  4. Employee Morale — Disasters due to data loss or breaches means employees need to perform double duties. Employees spend time on recovery while working to keep the business operational. It often requires additional work hours. Recovery can be stressful and demoralizing.
  5. Business Value — Businesses that suffer data breaches and service disruptions are perceived as poorly managed. With the potential financial liability, public companies can see stock prices fall. All companies can suffer a loss of business value.
  6. Legal Action — Downtime creates the risk of legal action. This is particularly true for downtime that is perceived as preventable. System failures, data loss, security breaches, and other incidents can put your business in breach of contract. You may also be in violation of state and federal regulations.
  7. Compliance Fines & Penalties — As information privacy and security regulations expand, data loss and breaches create the real potential for fines and penalties related to regulatory compliance, privacy, and data retention requirements.

These risks carry the potential for lasting damage. Whether by increased financial burdens or winning back customers, the impact of downtime extends well beyond getting yourself up and running again.

Is your business worth protecting?

Protecting your business will not break the bank. We offer practical, affordable solutions that help you and your team understand the risks, prevent problems from happening, and continue operating in the event something bad does happen.

If your business is worth protecting, contact us for a complimentary Cloud Advisor session to discuss how we can improve your business’ resiliency.


 

Cyber Attack

3 More Reasons You Are an Easy Cybercrime Target

Cyber AttackLast week, we gave you three reasons why you, as a small or midsize business, are a viable and desirable target for cyber criminals.

If those reasons don’t give you enough reason to act, here are three (3) more reasons SMBs, and you, a target for cyber criminals…

SMB data is increasingly networked

  • All of your systems — databases, email, documents, marketing, point-of-sale, and more — are likely running on a single network.
  • Access to one of your systems can lead to access to others. Target’s POS system was hacked using a security flow in the HVAC monitoring system running on the same network.
  • Moving data and systems into secure cloud solutions, and segregating network traffic minimizes the cross-over risk.

SMBs are using consumer products for business data

  • Consumer grade services are often more affordable, but often lack the security and data protection features of the higher-priced, business versions.
  • Separate work and home and use solutions designed for business, and, make sure to configure the security and privacy setting accordingly.

SMBs are often lax when it comes to security

  • Many small businesses operate in an environment of trust; people know and trust one another. This trust can be exploited by a disgruntled employee or an outsider.
  • Keep user identity management and passwords private and secure; Manage administrator and “super user” passwords so that they are unique, complex, and secure.
  • Keep servers and systems with sensitive data/access secure; enforce screen locking and passwords.
  • Educate your staff on security risks and behaviors.

 

Taking cyber security seriously is the first and best step in protecting your business, employees, and customers. Protection need not be overly complex; nor must reasonable protection be a budget busting expense. Reasonable measures balance cost and security.


Interested in ensuring you are protected, contact us for a free Cloud Advisor Session, or learn about our data protection solutions and our privacy solutions.


 

 

 

Cyber Attack

3 Reasons You Are an Easy Cybercrime Target

Cyber AttackAs we’ve mentioned before, more small and midsize businesses (SMBs) are falling victim to cybercrime.  According to HP’s Cyber Security and Your Business report, Cybercrime costs SMBs 4.2 times more per employee than larger businesses, and 60% of SMBs that experience a data breach are out of business in six months.

Why are SMBs, and you, a target for cyber criminals?

SMBs spend less on security while larger businesses are increasing their security protections.

  • Your business is an easier target because you are more likely to lack basic protections. In effect, you may attract cyber criminals because you are an easier target.
  • Budget for, and implement, reasonable protections covering user identities, access controls, user permissions, data loss prevention, and employee awareness and training.

SMBs do not have in-house security expertise.

  • Keeping up with risks and trends is time consuming above and beyond ensuring that your security measures are updated and working on a day-to-day basis.
  • Leverage technology and your IT partners for automated solutions and expertise, as well as on-going management of your security and privacy solutions.

SMBS are moving into the cloud.

  • Using cloud applications and storage makes sense. But, your data is no longer behind a physical or logical “firewall”.  Protecting your data means protecting the cloud systems and services you use.
  • Always select business-grade services over consumer services. Implement all security features, including 2 Factor Authentication. And, when possible, integrate access to cloud services into a single system for managing user identities. And, do not forget to train, and periodically remind, your staff how their awareness and actions can allow or prevent an attack.

 

Start the new year off right with a review of your IT security and data privacy policies, procedures, and systems.  Doing so is an affordable way to protect your business, your employees, and your customers from cyber crime. The cost of prevention is miniscule compared to the cost of a breach.


Interested in ensuring you are protected, contact us for a free Cloud Advisor Session, or learn about our data protection solutions and our privacy solutions.


 

Fast Fact

Fast Fact Friday: SMB IT in the Cloud

fastfacts2According to a survey of 1,500 SMB IT leaders by BetterCloud in the spring of 2015 …

49% of SMBs expect to run 100% of their IT in the cloud by 2020.


Are you moving to the cloud? Is your roadmap in line with your business goals? Contact us for a no-obligation Cloud Advisor session.


 

Friday Thought: Comfort with the Cloud Grows Rapidly Among Business Execs

As reported by Dow Jones via Fox Business News back in May, IBM published results of a bi-annual survey of more than 3000 CIOs.  The results indicate that adoption of  cloud computing will continue to grow rapidly.  Over the past two years:

  • The number of CIOs planning to use c loud computing has jumped from 33% to 60%
  • The number of CIOs stating that cloud computing is a top priority has jumped from about 33% to about 70%

What does this mean for you beyond “cloud computing is not going away”?

  • Mid-market and large enterprises will continue to demand enterprise-class features and capabilities from cloud computing solutions
  • PAR (performance/availability/reliability) concerns will continue to be addressed by vendors
  • Security architectures will continue to evolve to meet market demands.

Small and Mid-Size Businesses (SMBs) will benefit from the continuing, rapid evolution of cloud solutions.  As demonstrated by Google’s increasing rate of feature releases in Google Apps, evolution will rapidly close the gap between new, cloud solutions and traditional in-house systems.

SMBs should expect to re-evaluate current vendors and IT partners against new players in the market.  Avoid letting inertia keep your business on a path without fully exploring options.  Change may mean moving away from vendors uncomfortable with the growing role of cloud solutions.

At the same time, avoid moving to cloud solutions for the sake of being in the cloud.  Businesses should always map business objectives into IT initiatives and priorities, and then select the best solution.