How important is cybersecurity? Here are some numbers that might get your attention: according to the IBM Cost of a Data Breach report, “The global average cost of a data breach in 2023 was USD 4.45 million.” That’s a 15% increase since 2020.
Those numbers, of course, represent an aggregate of all data breaches worldwide so far this year—numbers that are undoubtedly skewed higher by large, corporate breaches (and the lawsuits that usually follow them). Nevertheless, when it comes to the costs of a data breach in the small- and medium-sized business (SMB) sector, the numbers are still significant.
Accenture’s 2023 Cybercrime Study found that annually, 43% of all cyber attacks are aimed at SMBs with 1,000 employees or less, with losses averaging around $25,000. But, the cost of a serious data breach can be far higher, even for small businesses, with CNBC reporting that cyber security incidents now cost “businesses of all sizes $200,000 on average.” These losses, they also report, result in 60% of businesses failing within 6 months of the incident.
Lack of cybersecurity investment puts SMBs at risk
For many, the assumption is that large corporations would be the primary target of cyber criminals. However, the truth is large corporations fund strong cybersecurity protections, making them more difficult to breach. SMBs on the other hand are much easier targets primarily because they don’t invest in cybersecurity in the same way that their larger counterparts do.
Indeed, the 2022 study Ransomware Trends & Cyber Readiness created by Corvus Insurance, found that 47% of businesses with 50 employees or less have absolutely no cybersecurity budget, and that only 8% of SMBs have a formal and dedicated cybersecurity budget in place to protect themselves from data breaches and other cyber crimes.
Cybersecurity breaches are more than just financially damaging
Beyond the financial cost of a data breach, there are also other, less quantifiable costs that can do immense damage to an organization of any size. Other costs include:
- Damage control—for example, credit monitoring for affected parties
- Business operations disruption and downtime
- Loss of business or customers
- Negative impact on workplace culture and productivity
- Loss of intellectual property
- Damage to company credibility, brand and reputation
It becomes clear that the ramifications of a data breach go well beyond mere financial losses and can extend into every area of your business.
“Considering the widespread consequences of data breaches,” says Nathan Drager, President of Quantum Technologies, “it is imperative that businesses of all sizes—but in particular, small- and medium-sized businesses—employ comprehensive and cutting-edge technologies to safeguard against the constantly shifting and evolving cybersecurity threats out in the world today.” He adds, “Insufficient or nonexistent cybersecurity not only places your business at risk, it places the livelihoods of your employees at risk, and potentially, the personal data of your customers too. Being in the position of having to assume the liability associated with a security breach is a position no business owner ever wants to be in.”
Quantum Care—the right set of cybersecurity tools for your business or home
With the ever-changing nature of cybersecurity in mind, Quantum Technologies has developed Quantum Care, a comprehensive cybersecurity system designed specifically to address the needs not of large corporations, but of small- and medium-sized businesses, as well as those of families and individuals. “Everyone deserves quality cybersecurity, not just the biggest corporations,” notes Drager, “and Quantum Care is just that—high quality managed IT that provides comprehensive protection and support while being accessible to small businesses and residents.”
“Quantum Care isn’t just another individual security tool,” Drager explains. “A great way to think of Quantum Care is as a toolkit,” he continues, “Each of these tools perform a specific task, and combined, they complete the job.”
What protections do the tools in the Quantum Care stack provide?
Just like the cybersecurity landscape is constantly changing, so do the offerings provided by Quantum Care. At the base is a suite of state-of-the-art tools that provide the following:
Email protection: With threats lurking in innocent-looking emails, our email protection ensures individuals and business users aren’t compromised and cloud identities remain secure.
Our systems comb through the suspicious emails you or your business receives each day, helping to actively resolve 95% of the tickets before you have to get involved.
Patch Management: Making sure software is both upgraded and updated is crucial to security. Our patch management system ensures that your software is always up-to-date, eliminating vulnerabilities that come with outdated programs.
Application and Storage Controls: Application and storage controls empower businesses to have control over which applications are permitted to run, effectively mitigating risks from unapproved or malicious software. Managed access ensures that data transmissions are secure and only authorized individuals can gain access. This not only bolsters security but also ensures data integrity and compliance, especially when handling sensitive information.
Password Manager: Digital credentials are constantly under threat. Our password manager not only stores your many passwords, it ensures that each of your digital keys is encrypted, organized, and only accessible to you. It generates strong, unique passwords, and securely auto-fills them, eliminating the vulnerability that comes with using weak or repeated passwords.
Custom-Built Help Desk: Tailored to the individual needs of our users, our custom-built help desk is designed to provide immediate assistance. It’s not just a generic helpline, but a dedicated support system, ensuring queries are addressed promptly and efficiently.
Quantum Care is custom care
Just as every project in your home doesn’t require the same set—or same number—of tools, not every person, family or business needs the same level of security.
With this in mind, Quantum Technologies realizes that not every tool mentioned above will be needed, and as a result, Quantum Care is totally customizable depending on the needs of the client.
“When Quantum Technologies starts a cybersecurity relationship with a new client,” remarks Drager, “we always start with an assessment of their cybersecurity and data protection needs.”
He adds, “the level of cybersecurity that you will need in your home will be different from what a business of 10 to 20 people will need.” He continues, “this custom approach is important as it not only serves our customers specific needs while simultaneously removing superfluous cybersecurity tools, but it also removes any undue financial burden.”
In the 21st century, robust cybersecurity shouldn’t be relegated only to large corporations. It is just as important for individuals and small- to medium-sized businesses to safeguard sensitive data and financial assets, as it is for Apple and Microsoft. Investing in cybersecurity ensures trust among customers, regulatory compliance, and business continuity. “With Quantum Care,” Drager remarks, “Quantum Technologies is able to provide a bespoke and comprehensive managed IT service that both protects you, your family or your business, while simultaneously providing consistently available tech support.”
To learn more about Quantum Care for your home or business, please visit our website at: www.quantumtechnologies.com, or call us at: 920-256-1214