In 2022, malicious actors carried out nearly 400 ransomware attacks on U.S. organizations, affecting over 21 million individual records, according to Comparitech.
With an average ransom demand of more than $4 million dollars, the cost of a ransomware attack continues to balloon. This figure does not take into account expenses tied to recovery costs, lost revenue because of operational downtime, and the loss of customer confidence that can follow an attack. On average, a business in the US lost nine days of operation due to ransomware-induced downtime, although some were locked out of their networks for several months.
Malicious hackers can easily scan the internet to find open ports and vulnerabilities to exploit. If a business fails to patch a program or update an operating system, or if IT systems are not configured properly, attackers can utilize these attack vectors to gain entry to systems and mount a ransomware attack.
Companies can be easily overwhelmed by the IT management and cybersecurity tasks that help keep their businesses running. They need to apply their skills to their core competencies, but they are having to throw more and more resources at cyber-defense. Instead of investing in the business to forward their strategic ambitions, budgets are getting eaten up by security expenditures.
It is easy to see how, for some businesses (especially small businesses), a ransomware attack can be catastrophic. Some never recover and permanently close their doors. It’s not surprising then that many businesses are turning to managed services providers and managed security service providers (MSPs/MSSPs) to help safeguard their business environments.
MSPs Make It Easy to Protect Your Business
MSPs/MSSPs have the flexibility to quickly bring on skilled resources and partner with innovative technology vendors to deliver management and security in one simple package. Further, partnering with MSPs/MSSPs take the burden of finding, vetting, purchasing, implementing, and managing IT systems and security products off of the company, leaving business owners to focus on their business.
MSPs/MSSPs are already leveraging Syxsense Enterprise, for example, to automate asset discovery, patch and endpoint management, mobile device management, and vulnerability management – all in one easy-to-use product. These services help businesses to avoid ransomware attacks by inventorying every endpoint on their networks, detecting all unpatched systems, vulnerabilities, and misconfigurations, and remediating them rapidly. And because of the automation built into the product, MSPs/MSSPs can utilize less staff to manage more customers. MSPs wishing to begin offering security services should select solutions and products that place the least technical and staffing burden on existing personnel.
For more information, schedule a demo today and find out how Syxsense can help MSPs/MSSPs grow their service offerings and drive greater customer value.
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