Article by Avatara’s President, Ben Scully, originally published in ReadWrite.
It’s easy to hear cybercrime statistics and say, “It won’t happen to our company,” or “That’s an easy fix.” But we’ve seen it happen multiple times — and how disruptive one of these attacks can be for your entire company.
For example, a prospective customer had to come to us after experiencing a ransomware attack. The company suffered severe downtime, among other things, leading to drops in revenue and damage to the public profile. The source of the breach, the company’s previous IT provider, took the biggest hit. It had to pay a sizable ransom to recover stolen data; worse, it lost credibility with all its clients.
The lesson here? There’s always room for improvement.
Cybersecurity is an ever-evolving practice that requires a layered approach.
I always recommend allocating at least 20% of your IT budget for security. Perhaps that’s why cloud infrastructure spending was up more than 13% year over year at the end of 2021. Securing your systems from intruders is a smart long-term investment and reputation saver — if committed to fully.