Small businesses owners often confuse data archiving with data backup (and vice versa) and end up purchasing the wrong software tools. But the truth is: Data archiving and data backup serve two different and clearly distinct purposes.
Why archive: Regulations such as MiFID II and Sarbanes-Oxley require you to store information for five to seven years. Archiving software helps store data for these long periods at lower costs compared to other file storage or data backup tools. Archiving tools help to clear up your storage space and move older data to a different storage system.
The cyber-risk landscape is constantly facing new threats like botnets and cryptocurrency mining hacks.
Understanding IT security trends is not only important for tackling these new security challenges as they crop up; it’s vital for appropriating sufficient funds to your cybersecurity budget in 2019.
Our research suggests that more companies are investing in security technology solutions to protect their businesses against cyberattacks. Cybercrimes, such as targeted ransomware attacks, spear phishing, and crypto jacking, are expected to increase in 2019, costing businesses billions of dollars in lost revenue, ransom payments, and damage control.
The theft or loss of IT assets such as laptops and servers that store critical information would create a panic for most business owners, because of the risk of losing confidential data and damage to their reputation.
But not for Mark, the owner of a small marketing firm. Mark’s employees work from different locations and travel to multiple countries for client meetings, increasing the risk of laptops or mobile phones getting stolen.
Mark’s not panicking, though, because he uses IT management tools to update software solutions on business systems used by his employees and to remotely troubleshoot software applications or wipe data from lost systems.
Cyberattacks on small businesses are increasing. And security risks are compounded by the fact that networks keep growing, with new devices and higher volumes of data added every day.
To address the higher risk, small businesses must increase their IT security budgets. But the IT department finds itself competing for budget with HR, marketing, and sales teams. In fact, 45 percent of cybersecurity professionals cite lack of budget as an obstacle to improving cybersecurity.
Small business IT managers buy and implement expensive security technologies hoping to keep themselves safe from cyberattacks.
But they’re missing one crucial thing: Employees are the weakest link in their cybersecurity strategy.
Ninety percent of successful cyberattacks are executed with information stolen from unsuspecting employees. Twenty-eight percent of cyberattacks involve an insider. In fact, one out of every five security breaches is the result of human error.