Call (716) 373-4467
05Dec

Common Risk Assessment Myths That Every Business Owner Needs to Know

Despite believing they were immune, a small law firm in Maryland fell victim to a ransomware attack. Similarly, an accounting firm in the Midwest lost all access to its client information, financial records and tax files. They assumed that antivirus software was all the security they needed to thwart a cyberattack.

In both incidents, the victims were small businesses that fell prey to sophisticated cyberattacks because of hidden security vulnerabilities that a comprehensive risk assessment could’ve identified.

When it comes to IT risk assessments, business owners have several misconceptions that leave them vulnerable. In this blog, we’ll uncover common cyber risk assessment myths and discuss the reality. By the end, we’ll also show you how to build an effective risk assessment strategy.

 

Misconceptions can hurt your business

Here are some common myths that all business owners must avoid:

 

Myth 1: We’re Too Small to be a Target

Reality: Hackers often use automated tools to look for vulnerabilities in a system, and small businesses invariably end up on the receiving end since many of them lack the resources to build a strong cybersecurity posture.

 

Myth 2: Risk Assessments are too Expensive.  

Reality: When you factor in the actual business loss due to a cyberattack, investing in proactive cybersecurity makes for a smart business decision. Proactive security practices not only protect your money but also save you from costly lawsuits and reputational damage.

You can utilize our Recovery Time Calculator to see what the cost of downtime looks like for your business.

 

Myth 3: We have Antivirus Software, so we’re Protected.

Reality: You can’t rely only on antivirus software to protect your IT infrastructure. Cybercriminals today have become highly skilled and can effortlessly deploy advanced threats. To secure your business, you must have a comprehensive risk assessment strategy.

Regularly assessing and addressing vulnerabilities will not only protect your business but also lay the foundation for your long-term business growth.

 

Myth 4: Risk Assessments are a One-Time Event.

Reality: Today’s businesses operate in a threat landscape that is constantly evolving. Without regular risk assessments, you won’t be able to build a strong cybersecurity posture. Without regular risk scans, new vulnerabilities can creep in and leave your business vulnerable to cyberthreats.

 

Myth 5: We can Handle Risk Assessment Ourselves.

Reality: Businesses often rely on internal resources to maintain cybersecurity. However, joining forces with an IT service provider can be a game changer for your business. An experienced service provider such as Databranch has the expertise, resources and advanced tools to carry out effective assessments. We also have the latest knowledge of emerging threats and vulnerabilities, so we can protect your business better than anybody else. 

 

Why You Need an IT Service Provider

Teaming up with an experienced IT service provider can help you:

 

  1. Access accurate and up-to-date information on risk assessments without getting sidetracked by misconceptions.
  2. Conduct thorough assessments to identify weaknesses in your IT systems and resolve them before they can pose any threat.
  3. Implement a robust security strategy that can help protect your business from a wide range of threats.
  4. Ensure your business has a fighting chance against evolving threats so you can focus on building your business instead of worrying about cybersecurity.

 

Take Control of Your Risks

Are you finding it a challenge to manage your IT risks all on your own? Download our checklist today for comprehensive steps to get started.

Cyberthreats are always lurking, and with one mistake, you could be the next victim. Cyber incidents can slam the breaks on your growth. That’s why you need Databranch’s team of IT experts to help you build a resilient cybersecurity posture. Team up with Databranch today for professional help navigating the complexities of cybersecurity with ease.

Schedule a free consultation now!

Your 5-Point Cyber Risk Assessment Checklist

Don’t wait for a cyberattack to expose your vulnerabilities. Be proactive and use this 5-point checklist to evaluate and strengthen your cybersecurity posture.

Name(Required)
Email(Required)

Read More

Comments
28Oct

Build a Strategic Tech Plan That Fuels Business Growth and Profit

Every business, regardless of its size, aspires to grow. To make this happen, business owners work tirelessly to build the right strategy that will promote growth and drive profit. Unfortunately, many businesses find it difficult to keep up with the demands of a technology-driven space.  

We’ve put together this blog to show you how to build a strategic technology plan that aligns with your critical business goals and delivers maximum return on investments (ROI).  Our aim is to empower you to create an effective tech strategy that optimizes investments and gives a competitive edge.

 

Key Components of a Technology Plan

Here are the key components to keep in mind while building a strategic technology plan:

 

Current Technology Assessment:

The first step towards building a solid tech plan begins with asking: what technologies and tools are we currently using and are they delivering results?

You can evaluate your existing tech infrastructure by taking stock of all the hardware and software you currently use. You should then check to see which of these solutions and tools are outdated or underperforming. This way, you’ll be able to figure out the technology that can be leveraged efficiently and gain a good understanding of your current technology landscape.

 

Technology Goals and Objectives:

Next, you need to understand what results you’re trying to achieve with your technology.

Whether your business goal is to expand your market reach, boost efficiency or enhance customer experience, your technology must be able to support you. By aligning your technology with your business goals, you ensure that your technology investments are strategic and result oriented.

 

Budget and Resource Allocation:

You don’t want your tech spending to be sporadic or an afterthought. That’s why it’s good to ask questions like how much you’ll spend on technology and what you’ll spend the money on.

You need to be realistic and factor in expenses such as the cost of regular maintenance, system replacement, license and warranty fees, and even unforeseen system failures. This will help you prepare a more detailed tech budget that considers your business priorities and technology needs. In the end, you’ll have a budget that is bound to maximize your ROI.

 

Technology Roadmap:

It’s easy to get swayed into investing in the latest shiny toys that don’t serve your business. But you can avoid such traps by laying out a tech roadmap.

To achieve clarity, you can begin by thinking about what technologies you should be investing in. And while building the tech roadmap, you can prioritize technologies that drive growth and help you achieve your strategic business goals.

 

Implementation Plan:

The success of your tech plan largely depends on how smoothly you’re able to implement it. The transition to new technologies or solutions can pose several challenges, including disruptions and loss of productivity.

That’s why a detailed implementation plan is essential. It outlines how you’ll put the tech plan into action, clarifies who is responsible for each aspect, establishes the project timeline and defines the overall communication strategy for keeping everyone informed.

 

Evaluation and Metrics:

As you build your tech plan, you must be able to measure the success of your technology initiatives and their contribution to your business.

 The key question to ask here is: how do you know that your tech is helping your business grow? To measure that, you must lay out key performance indicators (KPIs) and track the progress of your initiatives against those KPIs. By regular monitoring, you can optimize your technology investments and ensure the tech delivers the results you are seeking. 

 

Continuous Improvement:

How can you ensure your business stays ahead of the curve? The simple answer is to remain adaptable.

We live in a time where technology is continually evolving, and your technology plan should evolve as well. Make continuous monitoring and evaluation a key focus of your tech strategy. Also, stay informed about emerging technology and constantly look for innovation.

 

Partner for Success

Are you feeling lost in a sea of tech choices? Creating a robust technology strategy that truly supports your business goals can be a challenge, especially when you’re doing it all on your own. That’s why we’ve created the eBook below to help you get started.

The good new is, Databranch has the expertise and resources to help you build a roadmap that aligns your technology with your business goals, driving growth and profits. 

As a managed client, our team will proactively review your IT environment, provide security recommendations, and create IT budgets. Contact us today at 716-373-4467 option 6 or [email protected] for a free consultation.

Read More

Comments
Access Control Administrative Privileges AI AI algorithms AI in Cybersecurity Annual Security Training Anti-Virus Artificial Intelligence Authenticator App Automation Backup and Recovery Backup Redundancy BCDR BEC breach prevention Breach Prevention Platform Breaches business continuity Business Continuity and Disaster Recovery Business Email Compromise Business Email Compromises Business Growth Business Phone System Business Software BYOD Call Directory Channel Futures MSP 501 Cisco Cloud Accounts Cloud Data Backup Cloud Infrastructure Cloud Security Cloud Solutions Compliance Comprehensive Cybersecurity Compromised Credentials Computer Installation computer support Computer Upgrades Conditional Access Credential Theft Cyber Attacks Cyber Criminals Cyber Defenses Cyber Insurance cyber liability insurance Cyber Risk Management Cyberattacks Cyberinsurance cybersecurity Cybersecurity Awareness month Cybersecurity Breach Cybersecurity Culture Cybersecurity Strategy Cybersecurity Training Cybersecurity Webinar Dark Web Dark Web Monitoring Data Backup Data Backup and Recovery Data Backup Solution Data Breach Data Breaches Data Governance Data Loss Data Management Data Privacy Compliance Data Privacy Regulation data protection Data Recovery Data Restoration Data Security deepfake Deepfakes Defense in Depth Denial of Service Device Security Disaster Recover Disaster Recovery DNS Filtering doug wilson employee cybersecurity training Encryption Endpoint Detection and Response Endpoint Protection field technician Foundation Security Gift Card Scams Hackers Hosted VoIP Hybrid work i.t. service provider Identity Theft incident response plan Incident Response Planning Insider Threats Internet Explorer Internet of Things Intrusion Detection Intrusion Prevention IoT Devices IT Budget IT Budgeting IT Compliance IT Infrastructure IT Myths IT Partner IT Policies IT Resource IT Security IT Service Provider IT Services IT Support Juice Jacking Local Admin local admin privileges Lost Devices M365 malware Managed Clients Managed Detection and Response Managed IT Managed IT Provider Managed IT Services managed service provider managed services Manages Services MDR MFA Microsoft Microsoft 356 Microsoft 365 Copilot Microsoft End of Support Microsoft Office Mobile Devices MSP MSP 501 Winner MSP501 Multi-Factor Authentication Network Monitoring Network Security Network Testing Networking New Computer NIST Framework Offboarding Office 365 Outlook Outsourced IT password management Password Manager Password Managers Password Protection password security Passwords Patch Management Patches Patching PC Performance Penetration Testing Personal Data phishing Phishing Attacks PII Proactive Monitoring Processor productivity Professional Tune-Up Public WiFi Push-Bombing RAM Ransomware Ransomware Prevention Recovery point objective Recovery Time Calculator Recovery time objective Remote Monitoring Remote Working repeatbusinesssystems Ring Groups risk assessment Risk Management Risk Tolerance Rock-It VoIP RPO RTO RTO Costs SaaS SaaS Backup Scammers Scams security Security Assessment Security Assessments Security Awareness Training Security Defaults Security Key Security Scans SLAM Method Smart Tech Smishing SMS Social Engineering Social Media Security Software Integration Software-as-a-Service Solid-State Drive Sponsored Google Ads SSD stolen credentials Storage Teams technical support scam technology best practices Technology Budget Technology Infrastructure Technology Management Technology Plan Technology Policies Technology Review Threat Detection Threat Identification Threat Modeling top-performing managed service providers Updates virus VoIP Systems VPN Vulnerabilities Vulnerability Assessment Vulnerability Management Warning Signs Webinar Windows 10 Windows 11 Windows 8.1 Work Computers World Backup Day zero trust policy