You take $86,000 here, and $86,000 there, and pretty soon you’re talking real money.

A recent survey revealed a single cyber-security incident now costs the average American small or medium business $86,500. For Enterprises, the number is nearly ten times larger ($861,000).

Kaspersky Lab asked more than 4,000 organizations to break down their breach-related losses in different categories. Although the most frequently cited cost was for additional staff wages, businesses reported significant spending due to lost business opportunities, subsequent improvements in IT security, employing external specialists, and hiring new staff.

The study also found that Enterprises pay a 27 percent premium if it takes them more than a week to discover an initial breach, while SMBs pay a whopping 44 percent more to recover in the same situations.

That’s bad enough. Now consider that ten percent of U.S. businesses have taken a year or more to discover a breach has even occurred.

Your stuff just isn’t enough.

It is reasonable to assume every one of these companies had a firewall in place, as well as the ability to collect and review logs from those appliances. But there’s a good chance no one reviewed those logs to identify anomalies, or performed even rudimentary event correlation to detect potentially suspicious activity.

If you’ve invested in security solutions designed to keep your network safe, but can’t afford to dedicate experienced personnel to monitor and manage those solutions, give us a call. We are a SOC 2-certified provider of managed security services. We’ll watch your stuff.

Categories: Current News and Events, Data Security, Hackers, Internet Security, Managed Security, SLPowers