The China Mail - New Year’s Cybersecurity Resolution: 5 Questions to Identify and Mitigate Hidden Security Threats

"Surging security and cybersecurity threats don't discriminate by company size, industry, or geographic footprint. In today's high-risk security environment, an attack is all but inevitable," says Erik Eisen, CEO of CTI Technical Services, a leading provider of IT support and cybersecurity services. "Which is why every business today needs to make-and keep-a resolution to start the year with an evaluation of their network and security status to identify and address areas of weakness so they're around next year."

A Threatening Environment

According to a recent survey by New Relic, the median number of annual outages among respondents was 232, with more than half experiencing weekly low-impact disruptions. IT teams spend 30% of their time-the equivalent of 12 hours per 40-hour workweek-addressing interruptions ranging from network failures and third-party service issues to human error.

Cyberattacks are also surging, and small businesses are a favorite target. Attacks against small businesses increased by 150% over a two-year period at an average cost per incident ranging from more than $825 to nearly $654,000. More than 73% of US small business owners reported a cyberattack in 2023, most of which compromised user credentials. Further:

• Financial motives are behind 98% of cyberattacks on small businesses.

• System intrusion, social engineering, and basic web application attacks represent 92% of all small business breaches.

• An average small business with less than 100 employees will receive 350% more social engineering attacks than larger enterprises.

"Despite the risk, the typical small business spends less than $500 a year on cybersecurity, and most don't have a dedicated cybersecurity budget," says Eisen. "It's an oversight that can have significant repercussions, as 60% of the small businesses that fall victim to cyberattacks close their doors within six months, unable to recover from the resulting downtime, reduced productivity, and remediation costs."

According to Nationwide claims data, it takes an average of 279 days for a small business to recover from a cyberattack, and the average associated costs are between $15,000 and $25,000. Further, 32% of small business owners who experienced an attack said it led to losing customer trust.

A Proactive Stance

When it comes to IT events and cybersecurity attacks, it is a matter of when, not if, for businesses of all sizes. However, there are several steps companies can take to mitigate their risk, starting with a self-assessment to determine areas of vulnerability. This doesn't require an IT expert; just answers to a handful of questions in the following five areas:

1. Staff training: is your team trained in cybersecurity best practices, including recognizing phishing attempts and the need for strong passwords, and is this training updated regularly?

2. Security safeguards: Are security measures in place that minimize human errors (e.g., email filters, browsing restrictions, multi-factor authentication, etc.), particularly around personally identifiable information (PII) access? Are they kept current?

3. Software patches and updates: Are procedures in place for installing the latest patches and updates to software and systems to protect against emerging threats and harden existing vulnerabilities? Are they followed?

4. Vendor security profiles: Do vendors, partners, and any other entity that may access the company's systems have proper cybersecurity and security protocols to prevent a breach on their end from impacting your operations?

5. Business continuity: Is a business recovery and continuity plan in place to get operations back up and running after a breach? Is it regularly reviewed and updated as needed? Are staff aware of the plan and trained in its deployment?

Responses will help determine if broader protections are required and if engaging with an IT service provider is warranted. If it is, look for a provider with cybersecurity experience that offers, at minimum, proactive monitoring, regular security assessments, and staff training. Prospective partners should also have a deep understanding of industry-specific compliance requirements.

Along with the above, CTI delivers:

• Comprehensive services: CTI provides a wide range of technical services, including cybersecurity, data recovery, and workplace solutions.

• Personalized customer support: CTI emphasizes building long-term relationships with clients by tailoring their services to specific needs, ensuring a personalized and customer-focused approach.

• Advanced technological expertise: CTI strongly emphasizes staying ahead of technological trends, leveraging cutting-edge tools and processes that outperform older or less adaptive technology.

• Transparent pricing and policies: CTI maintains a clear, upfront pricing structure and offers fair service terms with no hidden fees or complicated contracts.

• Nationwide reach with localized support: CTI serves clients nationwide while maintaining a local, approachable touch that provides flexibility and scale.

Finally, during the evaluation process, be sure to ask prospects about their response times and disaster recovery capabilities and obtain-and check-references.

"Security and cybersecurity protocols don't have to break the bank, but they do need to be a budget priority," says Eisen. "Many policies can be implemented internally. For those that can't, the right IT partner will have the skills, experience, and flexibility to lower your risk profile in 2025 and beyond."

For more information on CTI's security and cybersecurity services, visit ctitechnicalservices.com.

About CTI Technical Services

CTI Technical Services is a trusted IT service provider specializing in network design, information architecture, and comprehensive IT support for clients nationwide. With expertise in serving dental and health practices, hospitality, small businesses, and golf courses, Philadelphia-based CTI offers a full suite of services, including managed IT services, cybersecurity, cloud solutions, telecommunications, and network infrastructure design and implementation. Committed to security, efficiency, and reliability, CTI ensures that every client's technology is optimized to protect their business and support seamless operations. For more information, visit ctitechnicalservices.com.

Media Contact:
Liz Goar
NPC Creative Services
[email protected]

SOURCE: CTI Technical Services

View the original press release on ACCESS Newswire

G.Fung--ThChM