In the wake of recent ransomware attacks, such as WannaCry and Petya, businesses are more aware of the need for a comprehensive cybersecurity program. However, many companies still do not have such a program and are at risk for data breaches and other cyber-attacks.
Most small businesses do not consider themselves at risk of a cyberattack. However, hackers are now increasingly targeting small businesses. In an Inc. article written and published by John Brandon, he mentions that small businesses are targeted because they have weaker security solutions than larger organizations. So whether large or small, every business needs to have a comprehensive cybersecurity program for several reasons.
The Rise of Data
Data is the new oil that drives business success. In a world where executives use data to make better decisions, comprehensive cybersecurity coverage is vital for businesses. Even if you don’t think of it this way, data plays a crucial role in every industry: It can be used to improve customer experience and drive growth.
Nearly 2.5 quintillion bytes of data are generated every day. Companies analyze this data to create insights from it, which helps make informed decisions. By attacking this data, cybercriminals can sort of make businesses blindfolded. That’s why data is so important. Attackers are constantly attempting to breach the security systems of all firms, regardless of size and industry, to get this data and ask for ransomware.
Besides data loss, cyberattacks lead to financial, legal, and reputational consequences. Hence, a comprehensive cybersecurity program like the SMB Fortify service becomes vital. These cybersecurity services cover vulnerability management, firewall monitoring, endpoint protection, risk management, threat hunting, etc. Thus, leveraging these services and solutions creates a strong defense against any attack, preventing data loss.
Security Perimeter Has Perished in Remote World
The perimeter is dead. It’s a concept that has been around for decades and is no longer relevant in today’s world. Many people think the “perimeter” is the border or boundary between your company’s network and the Internet. When businesses used to operate in a specified workplace, the term “perimeter” used to make sense. But as the pandemic hit and organizations were forced to send their employees home, the workplace as we knew it changed. The pandemic has resulted in a dramatic shift in how businesses operate and has forced organizations to re-think their security strategies. The new normal is here to stay, and the traditional perimeter-based security model no longer fits.
In today’s perimeter-less world, businesses must adopt a zero-trust security model. This means that companies need to treat all users and devices as potential threats instead of relying on the perimeter to keep out threats. With a zero-trust security model, companies can more effectively protect their data and resources from growing cyber threats. Hence, the spending on the zero-trust model has increased significantly and reached 23 billion. In fact, according to a Cloudflare report, 82% of small and large businesses are now dedicated to implementing a zero-trust security model.
A zero-trust security model starts with the assumption that all users and devices are untrusted. Businesses must verify all users’ identities before accessing any data or resources. Once a user’s identity has been verified, businesses can then determine what level of access that user should have to specific data or resources. By adopting a zero-trust security model, companies can more effectively protect their data and resources from growing cyber threats.
You can implement zero-trust security in your business by following these five steps:
- Define your security perimeter
- Identify your users and devices
- Verify user identities
- Determine user access
- Implement least privilege principles
Implementing a comprehensive zero-trust security model can help businesses protect their data and resources from growing cyber threats. By following the steps outlined above, companies can more effectively secure their data and resources in today’s perimeter-less world.
Cyber Attacks Are Big — and Getting Bigger
You may not realize it, but cyber attacks are becoming more and more frequent. According to a Kaspersky report, the number of cyberattacks increased by 3 million in 2022’s first quarter. Another study shows that 64% of companies worldwide have experienced some form of a cyberattack until now.
The cost of cyber attacks is increasing as well. According to IBM’s Cost of a Data Breach Report, the average cost of an attack has increased from $4.24 million in 2021 to 4.35 million in 2025. In fact, the global cost of cybercrimes exceeded $6 trillion.
If you’re wondering why this is, it’s for several reasons. Many consider only the ransomware pay as the cost, but there are several underlying costs. For instance, an attack can increase insurance premium costs, lost value of customer relationships, operational disruption, etc. Cyber adversaries can use stolen data to steal personal information, money, or trade secrets. They can also use it to do identity thefts and distribute ransomware.
Hacking Methods Are Constantly Evolving
It’s essential to be aware that hackers’ methods to exploit your business are constantly evolving. They’re getting smarter, more sophisticated, and more effective. Hackers are also becoming more organized to steal data or bring down the company’s website. The cybersecurity industry is changing, too—new techniques are being developed every day to keep up with these threats.
A good business needs to have a comprehensive cybersecurity program to protect itself from the constant evolution of hacking methods. Hackers are always looking for new ways to penetrate networks and steal data, so it is vital for businesses to have measures in place to detect and prevent these attacks. A cybersecurity program should include elements such as firewalls, intrusion detection/prevention systems, anti-virus software, and employee training. By having a comprehensive program in place, businesses can reduce the risk of being hacked and losing valuable data.
You need comprehensive cyber insurance coverage that covers the full spectrum of risks and can respond to any attack. A good example is a solution that uses multiple detections, prevention, and remediation processes to mitigate the chances of a cyberattack. With this kind of coverage in place, your business will be prepared for anything — an old-fashioned break-in or a sophisticated ransomware attack on your network.