EACH COMPANY

NEEDS TO PREPARE ITSELF ACCORDING TO ITS OWN RISK ASSESSMENT .

With regards to cybersecurity , loss of data , business interruption , erosion of turnover , higher insurance premiums and damage to reputation are all catastrophic consequences for medium businesses .

However , it is clear that IT leaders in these businesses do not have a clear commercial narrative to effectively negotiate a cybersecurity budget against other competing priorities . So how can they address this tension and ensure cybersecurity does not add to the substantial weight already upon the organisation ?

Each company needs to prepare itself according to its own risk assessment . This requires everyone to maintain rigorous digital hygiene and adopt IT security practices on an on-going basis . This is all the more important given that the current system encourages cyberattackers to re-offend and makes victims even more vulnerable .

Increasing the budget devoted to security tools is no longer a sufficient solution in the face of the proliferation of increasingly sophisticated threats . Every employee is a key part of the responsibility , as they represent the main potential vulnerability . Although the Zero Trust security model , based on the principle that no user can be entirely trusted on a network , is better understood , the human factor remains one of the greatest vulnerabilities in the face of the cyberthreat . It is therefore essential to train staff in threat awareness and best day-to-day practices .

Cybersecurity will remain a key investment for medium-sized businesses – indeed , research shows that there will be a 2023 increase in spending compared to 2022 . But it is clear that it must now answer a range of specific demands , as these engines of growth within the UK market adapt to new conditions . �

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Intelligent SME . tech