Over the years, more and more small- and medium-sized businesses (SMBs) like yours have been leveraging multiple security solutions, such as firewalls and anti-malware programs, to boost their cyber defenses. While doing so can help mitigate the risk of attacks, you must also ensure that those measures are audited regularly, especially if you are an SMB owner.
Why should SMBs, in particular, undergo network security audits?
Companies of all sizes must constantly find ways to improve their cybersecurity posture, including going through network security audits. SMBs, specifically, must do so for the following reasons:
Cybercriminals target SMBs
SMBs often lack the budget and technical skills to properly protect themselves. In 2019, the National Small Business Association revealed that only 14% of small businesses rated their capability to mitigate cyberattacks as useful. These limitations make SMBs very easy to attack, which is appealing to many cybercriminals.
In fact, according to the 2020 Verizon Data Breach Investigations Report almost a third of data breaches involved small businesses. Infrascale’s 2020 survey of over 500 C-level executives also found that 46% of small businesses experienced a ransomware attack.
Many SMBs are unable to recover from a cyberattack
Falling victim to a data breach can have costly implications such as:
- Lost sales
- Lost employee productivity
- Regulatory fines and penalties
- Notification costs
- Remediation costs
- Reputational damage
- Loss of intellectual property
Any of these examples can have a significant impact on your business, let alone two or more of these. AppRiver software found that the average cost of a data breach for an SMB in 2019 was $149,000. While that amount may seem small compared to what makes it to the headlines, to an SMB owner, it may be enough for them to shut down. In fact, 60% of small businesses fold following a cyberattack.
What is a network security audit and how can it help SMBs?
Network security audit is the process of examining a company’s cybersecurity assets and policies on the network. SpectrumWise’s audit service, in particular, looks into the following:
By undergoing a network security audit, any weaknesses or vulnerabilities can be exposed. For example, you may discover that some programs haven’t been patched or some computers don’t have antivirus software. Knowing your security risks enables you to remedy these before these can be exploited.
A network security audit also helps you compare the costs of security investments versus potential losses and expenses from cyberattacks. This lets you budget appropriately for security and identify which solutions to prioritize.
Why should SMBs conduct network security audits regularly?
A network security audit should not be a one-time event. You should run audits at least once a year because things can quickly change. Cyberthreats keep growing in number and complexity, requiring new patches or improvements to existing security measures. Your company may be growing as well, and in the process, adding new hardware and software — potentially creating new vulnerabilities.
By undergoing regular audits, you can update the status of your current network security and plug any cybersecurity gaps that may have surfaced resulting from changes that happened after your last audit.
Don’t leave your IT infrastructure susceptible to cyberattacks. Avail SpectrumWise’s FREE network security audit. With our help, you can rest easy knowing that you are protected and also compliant with regulatory requirements.