Small Businesses Struggle to Acquire Top Cybersecurity Talent

Few institutions are at more risk of a cyber-attack than SMBs. Unfortunately, these same companies are struggling to compete with major corporations for the IT and cybersecurity talent that can keep their infrastructure and data secure. 

In general, this trend reveals a growing chasm between escalating cybersecurity threats and the availability of affordable, qualified professionals who can defend against them. In Canada alone, it’s estimated that organizations will need to fill 3,600 cybersecurity positions alone, meaning that the market forces of supply and demand are inextricably working against SMBs with more modest budgets. 

Moreover, today’s cybercrimes are becoming increasingly sophisticated and exponentially more expensive. For instance, credential stuffing and ransomware attacks often require specialized personnel to adequately defend against these threats.

However, SMBs don’t have to bring all of this talent under their own roof. Instead, they can partner with qualified cybersecurity specialists (Like us!) to augment their capabilities and ensure their data security in a dangerous digital environment.

https://www.theglobeandmail.com/featured-reports/article-small-business-struggles-to-compete-for-cybersecurity-talent/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Few Employees Receive Cybersecurity Training

 

The precipitous rise in phishing scams and malware attacks has made employee cybersecurity training a critical component of any cyber defense strategy. However, a recent report by Chubbs indicates that many businesses aren’t providing cybersecurity training to their employees. 

The report found that only 31% of employees receive cybersecurity training, while 70% of companies claim to have “excellent” or “good” cybersecurity standards. 

These divergent claims contradict one another as companies with disengaged or ignorant employees pose a serious cybersecurity threat to their cybersecurity posture.

As data breaches continue to make headlines and to damage businesses’ bottom lines, it seems that too many organizations are unnecessarily putting themselves at risk. Comprehensive employee awareness training is an affordable way to bolster your defensive posture, and it can make a significant impact on the most prescient threats facing businesses today.
https://smallbiztrends.com/2019/09/2019-cyber-security-statistics.html

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

5 Signs You Need to Outsource Your IT Department

 One of the most effective ways to improve efficiency in the workplace is to partner with a managed service provider for all of your IT needs. Outsourcing your IT department is a cost-effective solution that offers immense benefits for small business owners. These advantages include access to the latest cybersecurity tools, around the clock network monitoring, and technical assistance at any time.

If you have yet to partner with an IT provider, here are a few of the most common signs that it is time to outsource your IT department.

#1 Lack of Funds for Full-Time IT Staff Members

Many small businesses do not have the extra resources to hire an in-house IT staff to handle all of their technical needs in the workplace. The cost of training, employee benefits, and overtime are a few of the most common reasons why it is such an expensive task to hire additional employees. However, you can avoid these extra costs by choosing to partner with a managed service provider at an affordable fixed rate each month.

#2 Overworked Employees

Another benefit of an IT service provider is that it reduces the workload for your entire staff. A managed service provider will take care of all of the technical duties in your workplace and allow your employees to focus on their jobs. Ultimately, this will create a much more relaxed working environment while also saving you time and money.

#3 Out of Date Technology

Keeping up with the latest tech trends is never an easy task for small business owners. Always purchasing the newest technology can also get expensive. However, a managed service provider gives your business access to the latest tech as soon as it becomes available. Modernizing your computer equipment will make a significant impact on productivity while also making the jobs of each employee that much easier.

#4 Cybersecurity Issues

Cyber attacks can strike a business at any time and cause significant downtime. A data breach can damage the reputation of your business and make it difficult for clients to trust your company. You can avoid this doomsday scenario by using an IT service provider that specializes in offering the latest cybersecurity methods to keep your business secure at all times. Access to the latest security updates, anti-virus protection, and data backup services are only a few examples of the many ways an IT provider can improve your cybersecurity.

#5 Compliance Concerns

Many industries must follow strict compliance guidelines, such as HIPAA laws that focus on protecting the electronic data of patients. Failure to follow these compliance guidelines can lead to significant fines. An IT service provider can play a key role in helping your organization remain in compliance at all times while maximizing data security.

An IT service provider is one of the best investments to meet the needs of your company in today's tech-driven society. Lack of a budget for full-time IT staff members, overworked employees, outdated technology, cybersecurity issues, and compliance concerns are a few of the most common reasons why it is a good idea to partner with a  Bit by Bit a managed service provider. 

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Dark Web Trends

negligence compromises user data, hackers attack digital points of sale, and SMBs struggle to hire top cybersecurity talent. 

Dark Web ID Trends:

Top Source Hits: ID Theft Forums 
Top Compromise Type: Domain 
Top Industry: Education & Research
Top Employee Count: 501+ Employees 

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Cyber Insurance Rises 5% in 2019

Despite a significant uptick in cybersecurity lapses, the average cost of cyber insurance only rose by 5% in 2019, according to a recent report. 

In some ways, this is good news for companies as cyber insurance has become an important commodity in today’s dangerous digital environment. However, the report also found that the insurance industry is getting more adept at controlling its own losses by imposing high deductibles and offering limited payouts. 

For instance, the sub limit on a $1 million ransomware policy can be as low as $25,000, and deductibles often exceed $10,000.

At the same time, the cost of a data breach is escalating quickly, and insurance payouts aren’t adjusting to this new reality, meaning that, even with an insurance reimbursement, companies often incur significant direct losses from a data breach.

Taken together, it underscores the importance of a strong defensive posture when it comes to cybersecurity risks as there are no helpful or affordable options once a data breach occurs.

https://www.scmagazine.com/home/security-news/data-breach/cyber-insurance-premium-costs-rise-5-percent-for-2019-despite-increased-attacks/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Use different passwords for different sites!!!

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com

Cyber Security Tip of the month

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