Cybercrime costs have increased over 400% in the past two years. Hardly a week goes by without news of another data breach, ransomware blackmail story, or cyberattack making front-page news. Most analysts predict that attacks will continue to increase in frequency, damage, and complexity with costs from consumer litigation, compliance requirements, and incident response expected to rise as a result.
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While it is the large corporations and government agencies that make the news as victims of cyber-attacks, small and medium-sized businesses are breached at similar snowballing rates. According to a recent Ponemon Institute survey, 55% of small and mid-sized businesses reported experiencing a cyberattack within the previous year, while only 14% considered their cyber defenses to be highly effective.
As cyber attackers constantly search for the least challenging means to profit, attacks will continue to shift to new techniques that defenders are unprepared for. Whether it is exploiting software vulnerabilities, deploying phishing attacks or targeting POS systems, attackers are constantly finding new tactics to evade cyber defenses.
Small and medium-sized businesses; those without a large security organization able to monitor and respond to the latest threats, are particularly at risk to falling victim to attacks. And unfortunately, attacks are almost always more costly on a relative basis than those exploiting larger organizations. Organizations who suffer a significant attack like a ransomware attack and have to replace servers, computers, or lose valuable, proprietary data often do not recover. In addition, customers are far less likely to purchase products and services from organizations that have been breached.
One way for businesses to respond to the latest threats in a cost-effective manner is through the services provided by managed security service providers, who can provide 24x7, leading-edge services for businesses at a fraction of the cost of a similar capability built in-house.
Many small and medium businesses are reporting that information security is becoming a growing part of their IT budget. As cyberattacks have become more sophisticated, businesses are investing more in defensive technology and subsequently in experts to manage the technology. Executives suggest that they can’t focus on their business because the challenge of protecting their data, customers, and employees from cyber-crime has become overwhelming.
A managed security services provider helps solve the issue of cyber defense in the same way a contractor manages and executes the details of building a home. Instead of spending vast amounts of time and effort renovating a home themselves, a homeowner can outsource the project to a contractor; an expert in their field.
A quality contractor has the skills, knowledge, partners, and experts, necessary to complete the job efficiently, effectively, and most importantly with high quality. The homeowner is relieved of the need to bring to together builders, electricians, plumbers, and other specialized experts in order to assemble a crew one expert at a time.
Providing similar benefits, MSSPs deliver cost savings by removing the need for upfront expenses on layered defense solutions or the operating expense for analysts required to operate and manage the technology. MSSPs can offer a wider range of services as well in order to handle specific or custom requirements on-demand.
One additional benefit of select MSSPs is the leading-edge technologies they offer. In a constantly advancing cybersecurity environment where malicious attackers require new defenses every day, security service providers have diverse tools and technologies developed and tested across a variety of customers over several years.
Partnering with a services provider rather than investing in the latest perimeter or endpoint defense technology or full, comprehensive layered solution eliminates excessive upfront costs. Predictable and manageable investments can be made strategically, over time and with the assistance of an expert.
Hitachi managed security solutions empower security teams with world-class technology, information security analysts, and proven security processes providing 24X7 protection and support capabilities in areas such as information and log monitoring, security event management and incident reporting, management and response.
Hitachi Systems Security provides leading-edge technologies to assist customers with their security needs. The technology platform, ArkAngel, is designed to ingest logs and information from diverse data sources and correlate information in order to provide a single pane of glass view of your environment.
In addition, ArkAngel offers capabilities that provide both a strategic view of the security posture of a customer’s systems as well as a tactical view of the systems including any vulnerabilities that may increase the risk of the system being attacked and breached. This central view of the user’s environment empowers analysts to prioritize business systems, controls, and patching which, in all likelihood would have prevented some of the most catastrophic breaches.
It truly is the people, processes, and technology integrated effectively that allow organizations with leading-edge security to thrive. What our customers tell us is that relying on an organization who works globally, across industries, leveraging proven tools and technology allows them to focus on their business, customers and employees.