According to LBMC’s Business Outlook Report, business leaders in 2021 are looking to manage their business technology by improving the performance of their existing systems. All companies, no matter what level of network cybersecurity protection, were forced to quickly shift the landscape of how they manage technology security during the pandemic and mandated shutdowns. Priorities to enact a secure, virtual workforce as well as implement all updates and patches on time, business leaders are looking at various options to reinforce their security posture.

We know the threat actors understand organizational data and assets are outside the traditional walls of business at never-before-seen levels. Even as data indicates that the number of breaches decreased by 19% in 2020 versus 2019, the target values are increasing with threat actors becoming more selective with where they strike next. According to the Identity Theft Resource Center, a nonprofit organization based in San Diego, California, the most common attack method remains phishing/smishing (text-based phishing) at 44%. The average ransom payment was $233,000 in Q4 of 2020.

With average ransom payments increasing, organizations should continually assess their own security position. We see that most organizations fall into one of three levels of network security when it comes to cybersecurity protection.

Three Levels of Network Security in Organizations

1. Minimalist

These organizations do the bare minimum. They likely have a firewall but do not actively manage it. Their Wi-Fi password is broadly shared and lacks complexity. Email systems lack threat protection.

2. Moderate

These organizations likely have some element of security compliance requirements. Despite those requirements, security protection is viewed as a necessary evil and there is little to no adoption of financial commitment to products, services, and best practices above minimum requirements.

3. Active and Aggressive

The leaders of the pack. These organizations adopt network security protection with a passion to maintain, monitor, and advance their security position. These companies budget for security and commit dedicated staff and/or resources to manage that part of their business and have implemented a security awareness program within their organization.

Irrespective of where an organization falls within this spectrum, one resounding truth endures: vigilance in safeguarding technology is the bedrock of sustainable business practices. In light of these dynamic challenges, we stand ready to offer our expertise in charting a course toward a more resilient and impregnable security stance. To explore tailored solutions for elevating your security posture, we invite you to engage with us today. In a landscape defined by its intricacies, your proactive actions today can usher in an era of secure tomorrows.

No matter what level your organization is at, security diligence is paramount to successful business technology practices. If you need some help reviewing your options for a stronger security posture, contact us today.