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Risk Management

Our lives are filled with risk every day. So much so in fact that there are entire industries & organizations dedicated to risk management, & safety. The same is true for your business. Everyday businesses face risk from fire, natural disasters, theft, disgruntled employees, cyber-attacks, & more. MSP’s like Nextgen Solutions can help you plan, prevent, & respond to these & other threats that businesses like yours experience daily.

The Stats

Small businesses Make up 43% of all breaches

From small business owners to the general public, most people believe that large corporations, & government entities are the primary target of cyber-attacks. The reality is that most large organizations, regardless of type, have hardened themselves to this kind of attack, making them no longer an ideal target.

Cyber criminals are looking for targets of opportunity that are low risk with relatively high payout. Since most small businesses have no cyber security budget or plan in place, this Makes them ideal targets.

Cyber-attacks are costing small businesses $3 million per incident on average

Any business with less than 500 employees is generally considered to be a small business. Of these small businesses, 51% of their owners will pay the ransom, 24% will have to pay it out of pocket, with only 27% being covered by cyber security insurance. To make matters worse 1 in 5 who pay the ransom will not get their data back.

60% of small businesses close within 6 Mo. of a cyber-attack

Cyber-attacks & data loss are costly both in the terms of finances & reputation. The impact of these costs has proven to be so steep that most small businesses cannot weather the storm & close their doors for good.

40% of attacks result the loss of business-critical data

Business critical data can be defined as financial, business proprietary, customer information, customer proprietary, as well as any other data that a business would not be able to function without. This data is essential to the operations of the business and its continued success. Losing access to this data can have severe consequences, including financial loss, loss of customer trust, and even the closure of the business.

Additional Risk Stats:

  • According to a report by the Cybersecurity Ventures, cybercrime is projected to cost the world $6 trillion annually by 2021.
  • A study by the Ponemon Institute found that the average cost of a data breach for a small business is $3.86 million.
  • A survey by the National Cyber Security Alliance found that 60% of small businesses that suffer a cyber-attack are out of business within six months of the incident.

How can Nextgen help manage risk?

Nextgen Solutions delivers services, such as network, application, infrastructure, and security, via ongoing and regular support and active administration on customers' premises, remote, or through hosting.

Our team of experts can help you identify potential threats and vulnerabilities, and develop a plan to mitigate them. We offer a variety of services, including:

  • Cybersecurity assessments and penetration testing: We can simulate a real-world attack on your system to identify vulnerabilities and help you implement measures to prevent them.
  • Managed firewall and intrusion detection/prevention: Our team can manage your firewall and intrusion detection/prevention systems to ensure they are always up-to-date and working correctly.
  • Data backup and recovery: We can help you develop a robust data backup and recovery plan to ensure that you can recover your data in the event of a disaster.
  • Employee training: We can provide training for your employees on how to identify and prevent cyber-attacks, as well as how to respond in the event of an attack.
  • Compliance: We can help you meet regulatory compliance requirements and ensure that you are protected from data breaches and other cyber threats.
  • Vulnerability management: We can help you identify and prioritize vulnerabilities in your IT environment and develop a plan to mitigate

Concluding Thoughts

The threats and risks that businesses face today are numerous and constantly evolving. Small businesses, in particular, are vulnerable to cyber-attacks due to their lack of resources and cyber security budget. The financial and reputational impact of cyber-attacks and data loss can be devastating, with 60% of small businesses closing within six months of a cyber-attack.

Nextgen Solutions offers a range of services that can help businesses manage these risks. Our team of experts can help you identify potential threats and vulnerabilities, develop a plan to mitigate them, and provide ongoing support and active administration. From cybersecurity assessments and penetration testing to managed firewall and intrusion detection/prevention, data backup and recovery, employee training, and compliance, we have the expertise and resources to help your business stay secure.

Don't wait for a cyber-attack to happen, take proactive steps to protect your business today. Partner with Nextgen Solutions, and let us help you navigate the complex world of risk management and cyber security.