There was once a time when you could install a firewall and say with relative confidence that your business was protected from cyber attacks. But as hackers, crackers, and cybercriminals get smarter, businesses need to invest more resources to keep data secure. This had led to increased demand for managed detection and response (MDR) services.
These services monitor your computer system at all times, detecting and neutralizing potential threats before they can become a big problem. Here are five reasons that you should consider investing in MDR.
1. Increasingly sophisticated cyber attacks
It is unfortunately true that cyber attacks get more sophisticated every day. Many businesses, large and small, have suffered data theft, ransomware attacks, and more as they relied on defenses that had simply become ineffective against the problem. In some cases, businesses were alerted to breaches and data loss only long after the incident had occurred and there was nothing they could do about it.
2. Inadequate in-house expertise
Small businesses are especially at risk because they are unlikely to have a skilled IT team in house. Even those with a dedicated IT support team are unlikely to have the kind of cybersecurity expertise required to prevent cyber attacks 24×7.
3. Incoming GDPR
The General Data Protection Regulation (GDPR) will apply in the EU from May 2018 and is set to have major ramifications. GDPR essentially put much stricter controls on how personal data is collected and stored. Additionally, however, there are much harsher punishments that will be imposed on businesses that lose key customer data. Fines are set to increase massively, which could mean that cyber attacks affecting businesses can have major financial implications beyond the inherent impact of business disruption and potential reputational damage.
4. The risk of being an easy target
According to Gartner, detection and response is going to become the most important form of cybersecurity for businesses by 2020. As companies upgrade their defenses and put new systems in place, they become harder to hack. The knock-on effect is that cybercriminals are less likely to target businesses with powerful defenses and instead will focus their efforts on those with outdated security. Those companies that don’t invest as soon as possible will find themselves behind the curve and make themselves an easy target.
5. A good investment
A service like MDR is able to detect a huge range of different cyber threats and deal with them appropriately. When you have MDR in place, you will be immediately notified of any threats, and cybersecurity experts can help you deal with the problem and provide advice. In short, MDR can save your business a significant amount of time and money that you would otherwise have to spend dealing with problems after suffering an attack.
Learn more about the importance of strong defenses in The Future of Cybersecurity: Trust as Competitive Advantage.