Report: Large Businesses Spend an Average of $15 Million Annually on Cybersecurity

It’s a well-known fact that cybersecurity is a major pain point for all businesses, but some organizations spend vastly more money on it than others. Considering how the Internet is full of threats that are waiting to attack at any given moment, it’s not surprising that some organizations invest heavily in their security. Large businesses with over 1,000 employees spend around $15 million annually on security, so you need to make sure that your business is also spending the appropriate sum on network security.

Granted, we know that a small business can’t afford to drop a cool $15 million on cybersecurity every year, but the fact remains that cybersecurity is a total necessity when doing business in such a dangerous environment. Even large businesses feel threatened by malicious online activity, which means that the small business should, in theory, be absolutely petrified by it. The small business has a limited budget, and often cannot accommodate the up-front costs of implementing powerful security solutions.

Hackers tend to take advantage of any business that they can get their hands on through use of various threats, like malware, viruses, phishing attacks, and more. According to a recent study, ZDNet reports:

Attacks involving malicious code, malware, viruses, worms, trojans, and botnets accounted for 40 percent of this cost, followed by 16 percent for denial of services, 14 percent for phishing and social engineering, 12 percent for Web-based attacks, 10 percent for malicious insiders and 7 percent for stolen devices.

With hackers using any and all measures to infiltrate networks and steal information from all kinds of businesses, it becomes clear that the average firewall or antivirus software isn’t going to be enough to stop them. A comprehensive security solution is needed if your business wants to stay competitive and secure in today’s dangerous online community. Protecting the information of your clients and employees is an investment that cannot be taken lightly.

It’s been proven time and again that the best way to protect from online threats is to actively prevent them from accessing your network in the first place. This means utilizing assets that deflect and destroy issues before they become bigger problems. The security solutions you integrate should be compounded with the proper education of your staff, like giving them ample training to identify and respond to threats.

But, of course, you already know that. The problem is affording such a comprehensive solution up-front. XFER suggests that your business should look into a Unified Threat Management (UTM) solution, which is designed to take a proactive stance against online threats of all kinds. The UTM solution can also block content on a per user basis, in addition to blocking spam for your email client. Give us a call at 734-927-6666 / 800-GET-XFER for answers to all of your security solution questions.