fbpx
Mytek Logo
MyTek Logo

Where are Business’ Security Priorities Right Now?

by | Jun 21, 2021 | MyTek Blog, Security

Q

Subscribe To The Blog

By subscribing to the blog, you will be notified when a new blog post is created on the site.

In a survey done by Enterprise Strategy Group and Splunk, it was found that business leaders often funnel their money and resources into their cybersecurity, with 88 percent of the surveyors planning to increase their investments and 35 percent reporting that the boosts will be substantial. Let’s look at what else was revealed by this survey about cybersecurity, then we can put together a cybersecurity priority checklist for your business.

Lets’ see how prevalent and severe cyberattacks can be, so then we can understand the importance of cybersecurity.

How Common are Cyberattacks?

This survey found that over half of those surveyed have seen an increase in cyberattacks, with 53% agreeing that the there was an increase during the COVID-19 pandemic. 84% of the respondents even experienced a significant cybersecurity incident within the past two business years.

These attacks broke down as follows:

  • Data breaches (39%)
  • Mobile malware (37%)
  • Ransomware (31%)
  • DDoS attacks (36%)
  • Email compromise attacks (42%)
  • Phishing (33%)
  • Compliance and regulation violations (28%)

Costs Associated with These Cyberattacks

These attacks can result in many different ways and can have many different consequences and costs attached to them, depending on the damage and the business itself. For example:

  • 40% of surveyed businesses stated that the time cost of IT professionals was the largest related expense
  • 36% cited lost productivity as their primary related expense.
  • 35% blamed application and system disruption.
  • 32% prioritized the disruption that their business experienced.
  • 28% were concerned about confidential data breaches (with 19% worried about disclosing breaches).
  • 18% were stressed about their employees being terminated or prosecuted.

Overall, security professionals and leaders have also reported their jobs becoming more difficult and challenging, with 49% reporting this statement. 48% said this was due to a changing landscape in terms of threats, 32% cited business transitions into cloud settings and the difficulties that arise from this shift, and 28% blamed workplace hiring.

Because the cloud-based solutions being adopted so quickly due to the COVID-19 pandemic, this has led to challenges and issues in the technology world.

You should always have a cybersecurity priority checklist so your business can stay on top of your technological security and keep your business safe. MyTek can help you with this, so give us a call today to learn more at 623-312-2440.

ABOUT THE AUTHOR

Tim - Team

Tim Tiller, LMSW

 
Tim Tiller, MSW brings a deep service background to his role at Mytek, having graduated from McDonald’s management training program, fresh out of high school, and working his way up through the ranks in the hospitality industry. He has led two prior companies – Multi-Systems Inc., an IT-focused organization providing technology to hospitality companies (where he was named President at age 36), and most recently, as Chief Operating Officer for Jewish Voice Ministries International.

Q

Subscribe To This Author

By subscribing to the author, you will be notified when a new blog post is created by the author.

AUTHOR’S RECENT POSTS

Top 5 Hardware Monitoring Software 

Did you know that almost 40% of servers had at least one outage in the last twelve months? Veeam reports that the most common reason for outrages is infrastructure failure which puts the current hardware monitoring practices under the scanner. Hardware failures are...

Types of Mobile Malware & How to Defend Against Them

Malware has a long history of undermining computer security and stealing critical data. With the rapid growth of mobile usage, we're now seeing a new breed of mobile malware infecting smartphones and tablets. The new-age mobile malware are more advanced, seamless, and...

How to Protect Your Data Privacy & Enhance IT Security

Every time you use a device, you enter, modify or access data. Some of your usages are routine and public but sometimes you perform tasks that are confidential in your personal life or business. Naturally, this type of data is private and it should be kept that way....

Mobile? Grab this Article!

QR Code

Blog Archive

Share This