Ardalyst Can Prepare Your Small Business For the Cyber Unknown
Ardalyst is a cyber defense and digital transformation company dedicated to helping public and private organizations of all sizes enhance their cyber security posture and expand productivity. Through our extensive knowledge of business operations and technologies paired with deep understanding of cyber defense practices, we strive to help your organization develop and mature the strongest front lines against growing and changing cyber threats.
Recently the Wall Street Journal published findings of a survey of corporate technology officers highlighting concerns that a number of important industries are dangerously vulnerable to cyber incidents. They go onto share that small businesses, compared to larger counterparts, are less prepared to fend off or respond breaches that can “threaten their existence.” It doesn’t have to be that way though. Ardalyst offers a comprehensive and cost-effective suite of managed cybersecurity services for businesses, whether you have a few employees, hundreds, or thousands.
The Survey’s Key Findings:
• Organizations aren’t necessarily prepared for the threats they are most concerned about. Ransomware was highly concerning, for instance, with nearly 80% viewing it as high risk, but just under 70% felt prepared to deal with it.
• Manufacturing, government and retailing were behind other industries in important areas. Fewer than two-thirds of manufacturers and retailers have any cybersecurity program. Retailers were least likely to feel prepared to defend themselves against ransomware attacks. Government departments were also among the least prepared for ransomware attacks and well below average in offering cybersecurity training to their executives, as well as in identifying critical data. By contrast, health care reported surprisingly strong preparedness.
• Small companies tended to lag behind large ones in preparedness. For instance, only 63% of companies with under $50 million in revenue have a cybersecurity program, in contrast to 81% of companies with over $1 billion in revenue. More concerning, 15% of smaller companies have no plan to put a cybersecurity program in place. In addition, the very largest businesses were almost twice as likely to already hold cyber insurance than the very smallest businesses – 39% of which had no plans to buy a policy in the next 12 months.
The Journal’s research also highlights lines of effort where businesses are responding and improving:
Identification and protection of a company’s critical data assets – 72% of those surveyed completed an assessment of what data is critical and have taken steps to protect it. 22% plan to conduct such a review in the coming 12 months.
Cyber insurance – 51% of businesses interviewed purchased cyber insurance coverage, with 24% planning to purchase coverage in the coming year.
Training and awareness – 68% of companies talked to are educating employees, however 45% of businesses under $50 million haven’t prioritized the training. More concerning is the disparity and inconsistency between volume and content provided to executives and users writ large.
The lines of effort highlighted are illustrative of what protection and response is possible, but what works best and at what time are questions many of our clients find themselves asking when deciding where to prioritize time and money.
Where to Go From Here:
Cyber security maturity is a journey. Building a comprehensive cyber program can seem overwhelming regardless of a company’s size but especially for small businesses. At Ardalyst, we focus on managing the most important risks first, then developing more matures defenses from there. You don’t have to do everything all at once, but you do have to start somewhere. Our team assesses your business operations, infrastructure and likely threats to determine the vital first steps, the basic cyber hygiene practices that will offer the best immediate protection. That’s why it’s best to start the process as early as possible. With the basic security measures in place, you can build your maturity over time at a pace that makes you comfortable. The more time you have, the more cost-effective your plan will be.
Ardalyst offers three core services that we believe are fundamental to any cyber security program, ensuring that your organization is adopting the right policies and procedures, reducing the vulnerabilities inherent in your systems and continually monitoring those systems for threats.
The most comprehensive and mature cyber security programs also include supporting elements that allow companies to maximize their productivity, provide high-quality service to their customers, and continually assess and improve their cyber defenses.
Ardalyst’s vision is to replace uncertainty around cybersecurity needs with understanding. We’re offering free opportunities to learn more and put Ardalyst’s expertise to work for you:
1) Watch Webinar Replay: “Executive Understanding of Cybersecurity,”
Most executives know that understanding and managing cyber risk is now a fundamental part of enterprise risk management. As the technological landscape continues to evolve at an increasing rate, it’s clear that a cyber incident has the power impact your entire business. A lot of executives don’t know where to start. This webinar, presented by Ardalyst President Michael Speca, will help.
2) Schedule a free consultation today. Not sure where to start? Whether you’re a government contractor seeking help with CMMC or simply trying to develop a more robust cyber program, we’re here to help walk you through the process, understand your environment, and provide the guidance you need to either implement your first cybersecurity program or mature your existing one.