Small, medium, and large businesses alike benefit from managed IT services for many reasons. However, one of the most common gateways to the partnership is the critical need for cyber-security. Global spending for cyber-security is projected to exceed $124 billion in 2019 (up nearly 30 percent from 2018) and many managed IT service providers are establishing security services to complement and extend their existing portfolios.
On November 1st 2018, Canada released an update to the Personal Information Protection and Electronic Documents Act (PIPEDA).
The Privacy Commissioner of Canada delivered a critical call to action for all companies, making it mandatory to report security breaches to the Commission in addition to all impacted individuals (i.e. your clients/customers). Simply put, complacency is no longer permitted when it comes to compliance. Companies that don’t fall in line may face considerable fines.
Unprepared organizations should be turning to mature MSPs for immediate assistance because navigating the red tape of GDPR, PIPEDA, and state-by-state legislation in the U.S. can be a full time job that you don’t have the resources to manage. It should be noted that not all MSPs are versed in data privacy compliance. Speak with candidates and inquire about their service offerings and experience in helping businesses meet compliance mandate requirements before making your decision.
Even with all of the press surrounding cyber-security, nearly 60 percent of small businesses have no recovery strategy. Too many businesses mistake their backups as the disaster recovery plan, when in fact it’s just a component of it. This approach impacts business continuity during and after a cyber-attack.
Businesses need to establish more robust policies and procedures for IT that support critical functions. This strategy shouldn’t focus solely on making sure you have backups, it needs to also include measures for internet connectivity, remote access to restored data, VOIP (where applicable), and all other technical elements that are instrumental in keeping your business in play during and after a cyber-attack.
If your business currently believes data backup is a disaster recovery plan, you should discuss your options with a qualified MSP. They can help you create a set of policies and procedures complete with trial-runs to ensure your business remains operational despite an unfortunate event.
An increased investment into cyber-security may make sense for your business, but the bigger spend doesn’t necessarily equate to better protection. Work with a qualified MSP to evaluate your entire IT budget to make sure funds are being allocated in the right places.
The Financial Post reports that the best-prepared firms spend 11 to 14 percent of their IT budget on cyber-security, but following a general rule can leave gaps in your strategy as much as it can have you overspending.
The right MSP will furnish a comprehensive annual review process to help define your IT budget, one that includes hundreds of checks, fiscal recommendations, and a 12-month evergreening schedule. From there a more defined picture can be painted regarding cyber-security investments.
Modern threats require modern solutions. In our recent article about common pitfalls in IT security, we explained how traditional antivirus platforms are becoming less effective because their detection methods simply cannot keep up to the sheer number of threats released daily. As technology continues to advance exponentially, your business will have to leverage platforms built on AI and machine learning to keep up and protect its interests.
A qualified MSP can help you find and vet valuable systems.
Are you interested in having your existing infrastructure and security assessed? Contact SIRKit to get the conversation started; we’re here to help. For more information about our Managed IT services click here.