Cybersecurity is becoming the biggest priority for today’s business owners due to the rise of data breaches. Businesses are increasingly facing targeted attacks designed to break existing security defenses. 2018 was the year of ransomware, similar attacks are likely to grow considerably as we move into 2019. Traditional security approach is no longer enough to protect against today’s ransomware attacks.

Enterprise security budget is shifting towards detection and response. Gartner predicts that by 2019, total enterprise spending on security outsourcing services will be 75 percent of the spending on security software and hardware products. Advanced technologies such as Endpoint Detection and Response (EDR) and Nextgen Network Protections are ineffective when used by the organization without having required cybersecurity skills. Such technology requires skills that are highly expensive or difficult to find.

Rising threats!

Cyber attacks have been on the rise, a new organization will fall victim to ransomware every 14 seconds in 2019, and every 11 seconds by 2021. Many small business owners continue to mistakenly believe their organization won’t be a target.  Cisco’s 2018 SMB Cybersecurity Report found that 53% of mid-market companies in 26 countries experienced a breach. Another study suggests that 75% of ransomware victims were running up to date endpoint protection.

Cyber attacks target small business53

Small businesses can mitigate cyber risks14

Ransomware attacks increasing year over year300

Organizations infected even with up-to-date Endpoint Protection75

“You can’t defend. You can’t prevent. The only thing you can do is detect and respond

– Bruce Schneier

“A new organization will fall victim to ransomware every 14 seconds in 2019, and every 11 seconds by 2021.”

 – Cybersecurity Ventures

Widening skill gap!

According to (ISC)2’s Cybersecurity Workforce Study, shortage of Cybersecurity professionals is widening, skill shortage soars nearly 3 million. The study reveals that nearly 63% of participating organizations are suffering through a shortage of IT staff dedicated to cybersecurity. According to ISACA’s State of Cybersecurity 2019 survey, released at the RSA Conference 2019 reports that 58% of organizations have unfilled positions. This puts organizations across the globe in a tight spot, as Cybersecurity professionals are difficult to find and demand sky-high salary when available. Hackers are taking advantages of understaffed organizations that have little to no ability to prevent, detect and responds to attacks.