Here are some ways by which SMBs can utilize Managed Solutions to overcome Budget and Resource constraints
The well-being of any economy depends on the health of its smaller enterprises. For instance, small businesses (with less than 500 employees) constitute as much as 99% of all businesses in the US, while also providing employment to nearly half of all the workers. But when you take the SMBs (small-to-medium businesses, with 100-999 employees) into account their share goes up even more. SMB’s are increasingly opting for managed IT support, even in locations like Manhattan.
Prone to attacks
So it is a no-brainer that anything that threatens SMBs also threatens the global economy. Cyber-attacks are an increasing threat to SMBs who struggle to protect themselves with negligible IT budgets and access to the necessary expertise.
Many SMBs are under the mistaken assumption that they are not lucrative enough to be targeted by cybercrime. This is an ill-conceived notion as mainly smaller businesses are less protected and thus “low-hanging fruit” making them easy money grab for hackers. Further, most modern exploits are automated and attack at high volume, without any discrimination as to the size or type of the enterprises. Lastly, unsecured SMBs can sometimes grant access via the back door to larger networks.
Lack of resources
Given this scenario, SMBs need to be better equipped to defend themselves and respond effectively to attacks and other incidents. However, the lack of funding and resources make it challenging to implement proven security solutions that are often costly. It is a fact that SMBs just don’t possess the necessary technical or security expertise to deal with the threats and risks they face.
Cybersecurity defense often includes significant volumes of data from several sources. Larger companies who struggle to handle it are increasingly seeking intelligence-driven, automated solutions to keep up with the multiple threats, alerts and regulatory obligations.
Information services talent is hard to find, expensive and above all hard to retain. In addition, smaller businesses have to compete with larger enterprises and government agencies, which offer higher salaries and increased scope of work.
The way out
Obviously, SMBs in Manhattan are forced to turn to comprehensive, best-fit solutions from managed information security services providers (MSPs). MSPs can cost-effectively and safely deal with multiple networks, physical hardware, data and sensitive information.
It’s an extremely effective option for smaller businesses with multiple assets to protect — infrastructure, operations, data, revenue, customers, partnerships — all which require coordinated and systematic activity to govern and manage risk. In addition, most sectors have strict compliance requirements: such as credit card and financial transactions, adherence to HIPAA regulations and so on. Eventually, businesses without significant regulatory burden will also need to pass on risk and security assessments for passing muster with clients and other stakeholders.
Risk management, compliance, and governance are essential for a comprehensive cybersecurity program that should be tightly integrated with network and security measures. This integrated risk management approach is the most effective way to enforce policy, protect data and assets, increased risk assessment and fortify incident response.
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