Focused Security Assessments Reduce Breach Risk

Data breaches remain a costly threat to enterprises, with IBM data showing that breach-related expenses have grown by over 15% on average in recent years, affecting both the bottom line and brand trust.

Researchers assess breach-related costs across four key financial impact areas: detection and escalation, notification, post-breach response, and lost business.

Additional Insights from IBM’s Global Study:

• Costs associated with breach detection and assessment rose by nearly 10%.

• The average time from breach identification to full resolution extended to 277 days.

Although large multinational corporations account for some of the highest breach-related losses, the financial and operational impact is often proportionally more severe for small and mid-sized businesses (SMBs), which make up approximately 99% of all U.S. companies.

What Steps Can SMBs Take to Stay Out of These Rising Breach Statistics?

To better safeguard against cyber threats, we recommend conducting four key cybersecurity assessments that examine everything from governance policies to system access and application security:

• Network Assessment: Identify vulnerabilities across your expanding digital perimeter.

  
  

• System Assessment: Evaluate the effectiveness of your monitoring and detection, especially in cloud-based operations.

  
  

• HIPAA Assessment: Pinpoint potential weaknesses in handling sensitive healthcare data—a frequent target for cybercriminals.

  
  

• PCI/DSS Assessment: Measure your adherence to Payment Card Industry Data Security Standards to ensure robust protection of payment information.

Don’t wait for a breach to reveal your vulnerabilities. ESG’s cybersecurity expertise helps businesses stay secure and compliant. Schedule your assessment today.