This is a broad but an important question. The simple answer is YES, with some very important weighted factors to consider.
According to PWC in 2015:
- 91 percent of surveyed companies now follow a risk-based cyber-security framework
- Theft of hard intellectual property increased by 56 percent
- Security compromises caused by business partnerships climbed by 22 percent
Also, consider businesses with employees ranging from 1 to 100, in year 2015, made up 71 percent of the total data breaches reported. Within that group, companies between 11 and 100 employees made up 66 percent of that total! As would be expected, the larger the business/corporation is, the more emphasis they place on cyber security and IR plans. These larger groups makeup a smaller portion of reported breaches but unfortunately, some of the most expensive. The average cost of a breach is estimated to be around $7 million! That’s terrible for a company’s bottom-line, not to mention a severe blow to its reputation.
Many companies are out-sourcing network security, such as to an MSSP, which provides 24/7 network monitoring to prevent breaches from happening. Unfortunately, not all MSSPs are equal as most tend to be nothing more than alert factories.
Ingalls offers a much better MSSP service than most of our competitors. We truly are leaders in Incident Response, therefore, we have an upper-hand in the MSSP domain because we know how breaches happen and we are great at preventing them.
If there is one thing we are learning about intrusions and the growing sophistication of attackers it’s this: Cyber-security is no longer just a technology issue and therefore, left the IT domain long ago.
Whether it’s network monitoring or a thorough risk assessment and all that it entails, it’s vitally important to your business operations to lay the groundwork for cyber security or enhance your existing one.
Ingalls can help!