You can tell from the news headlines that cybersecurity attacks are increasing in both frequency and sophistication. But you don’t have to be a household name to be an attractive target for today’s cybercriminals. In fact, for the first time in its 14-year history, the Verizon Data Breach Investigations Report shows that small and midsized businesses (SMB) are now experiencing almost as many breaches as large enterprises.1
Still, some of these organizations may feel that they are not at risk of a cyberattack, especially compared to their large-enterprise counterparts. But with fewer resources to devote to building a solid cybersecurity framework, these businesses can actually be more vulnerable to attack. And when an attack happens, it can have more serious consequences than you might realize. Research shows that SMB business leaders tend to grossly underestimate the cost of mitigating a data breach. More than half of SMB leaders surveyed believe a data breach would cost them around $10,000, when in actuality the average SMB breach costs 15 times that.2
Protecting your business is an ongoing process, and it requires careful planning. But with the right people, technology and policies in place, you’re more likely to find and fix vulnerabilities, detect and thwart threats and avert disaster. Getting there isn’t necessarily easy, but you don’t have to do it alone. This eBook can help you cut through the clutter, complexity and confusion.
In the next five chapters, we’ll explore the five key components of a sound cybersecurity framework based on the NIST Cybersecurity Framework.3 And we’ll cover industry best practices and solutions like risk management, incident response (IR) planning and managed detection and response (MDR) – tools you can use to build out an effective, practical threat management strategy