A Human-Centric Risk Management Solution Designed for Small & Midsize Businesses
Cybersecurity risks and events are exploding in the business community and Small & Midsize businesses (SMB’s) are at the greatest risk because they have less resources and less sophistication.
In 2017, 60% of all targeted attacks struck
small and medium sized organizations.
The U.S.’ Nation Cyber Security Alliance found that 60 percent of small companies are unable to sustain their businesses over six months after a cyberattack. According to the Ponemon Institute, the average price for small businesses to clean up after their businesses have been hacked stands at $690,000; and, for middle market companies, it’s over $1 million.
65% of businesses believe they have appropriate security measures in place, yet 80% have been victims of a successful cyberattack or breach in the previous year.
A recent survey by Accenture found that there has been a 27.4% increase in the annual data breaches since 2015.
As cybersecurity risks become more common for small and midsize businesses, customers and stakeholders are becoming more wary and scrupulous about vendors they do business with. Companies who invest in cybersecurity will protect their business and build a competitive advantage in the marketplace.
As evidence of the changing compliance landscape:
The research firm Gartner projects that by 2020, 100 percent of large enterprises will have to report to their boards on cybersecurity and technology risk annually (or more frequently), up from 40 percent today.
“In the very near future, cybersecurity exercises are going to be absolutely expected of all companies by regulators.”
– Michael Vatis, Internationally famous cybersecurity lawyer and expert.
Companies who invest in cybersecurity efforts now can create value (beyond just preventing downside) for their organization in at least three ways:
The challenge for SMB’s is that there are few resources available on the market that are appropriately sized and affordable for the budget and risks of a Small or Midsize Business.
Upward has developed a cybersecurity solution that takes the onerous and complex and makes it simple, affordable and appropriate for the small and midsize business.
Our customized cybersecurity process is focused on more than just technology: we put equal effort into the human element of cybersecurity.
PEACE OF MIND
You can sleep well at night knowing you have taken the appropriate precautions to keep your business safe and secure.
Your company has developed a competitive advantage that can shorten the path to closing deals, open new markets in compliance driven industries and will make you look really smart should competitors suffer embarrassing events.
INCREASED BUSINESS VALUE
Greater overall business valuation, easier access to financing and capital, and lower insurance premiums.
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