7 Reasons Why Cybersecurity Fails

READ TIME: 5 MIN

7 Reasons Why Cybersecurity Fails

Too often cybersecurity is viewed as an IT cost rather than a business requirement. But the problem with that is: Cybersecurity, and the impacts of a lackluster implementation, is everyone’s problem.  

The consequences of a successful cyberattack can include: 

  • An expensive data breach 
  • Exposure of employee and customer information 
  • Hijacking of important business data 
  • Halting of daily operations for days on end 

Like we said, cybersecurity is everyone’s problem, and yet, it still fails. Data breaches happen, ransoms are demanded, and systems corrupted. Here are seven reasons why your business’ cybersecurity is not up to snuff.  

1. You assume your business is too small to be a target.

54% of small businesses believe they’re too small for a cyberattack, and subsequentlydon’t have a plan in place for reacting to cyber threats. Only 22% of small businesses encrypt their databases, and less than 15rate their ability to mitigate cyber risks and threats as highly effective. This lack ofor even nonexistence ofcybersecurity could be fatal for a business. 43% of cyberattacks explicitly target small businesses, and 60% of them go out of business within six months of a successful security breach. 47% of small businesses do not know how to protect their organization from cyberattacks, and 75% do not have IT security personnel to handle cybersecurity measures and procedures.  

2. You have an incomplete inventory of assets and endpoints.

67% of IT professionals believe the use of bring-your-own devices during the remote work of the pandemic has decreased their organization’s security health; a claim which a Ponemon Institute survey supports68% of businesses experienced one or more successful endpoint attacks in the past 12 months. 61% of remote employees used personal devices as their primary method to access company networksWithout an accurate inventory of assets, patches and updates go unmonitored, increasing the vulnerabilities of such endpoints. Over the past year, the cost of an endpoint attack has risen from $7.1 million to $8.94 million 

3. You set it, and then you forget it.

Firewalls, antivirus software, email security solutions, and endpoint security solutions are essential, but they’re not enough. Businesses must fortify themselves via a multi-layered approach, and yet, 52% of enterprises are not practicing mature cybersecurityInstead of just installing software and calling it a day, companies must conduct proactive preventative measures, including frequent infrastructure penetration tests and vulnerability scans. In one survey, one in five businesses reported no security testing within the past six months, and 20% only conduct a security review when they feel the need. Additionally, only 5% of companies perform frequent vulnerability assessmentsPerhaps that’s why 66% of small businesses are extremely concerned about cybersecurity risks. 

4. You neglect completing patches and upgrades in a timely manner.

When a company discovers a security flaw, it develops a patch, which the end user must install. However, it averages 97 days to apply, test, and deploy a patch, creating months of vulnerability. That’s why it is so critical that businesses and end users install the upgrade as soon as it is released, but that’s not the case. 40% of businesses wait to test and roll out patches in order to avoid bugs. Additionally, the challenges of updating systems from remote locations mean updates go unmanaged for 48.5% of managed enterprise Android devices. Consequently, 40% of Android devices utilize an OS version older than v9. 

5. You’re not actively monitoring your IT infrastructure for threats.

Incentivized and well-funded, cybercriminals utilize rapidly changing, sophisticated tactics to dismantle security systems. A layer of protection from software and spam filters is no longer enough. A strong cybersecurity practice includes proactive monitoring, preferably with 24/7 log management for threat detection. Last year, the average time to identify a breach was 207 days, according to IBM, and the average lifecycle from identification to containment was 280 days. Companies can lose $5.8 million a year from failures in log management, and another $1.6 million each for failing to detect abnormal login behavior and failing to deploy the log analytic tool.  

6. You don’t realize your greatest liability is your own employees.

In Verizon Business 2021 Data Breach Investigations Report, 85% of breaches involved a human element, and 80% were discovered by external parties. Fallible creatures, humans are susceptible to social engineering attacks that manipulate people into revealing sensitive information. In 2020, phishing attacks rose 11%. The cost of a social engineering attack averages $130,000 in stolen money or lost data. The Aberdeen Group found that security awareness training can reduce the risk of social engineering threats by 70%. However, only 3 in 10 employees on average receive cybersecurity training. 

7. You don’t have an incident response plan.

Incident response preparedness can save up to $2 million on data breaches, according to IBM, and yet 39% of small and medium-sized businesses do not have an incident response plan. An incident response plan comprises procedures to verify a breach, alert business leaders and customers, and isolate and eliminate the threat. On average, incident response testing can save over $295,000 on the cost of a breach, while business continuity can reduce the cost by $278,000. Simply forming a qualified incident response team has cost savings upwards of $272,000! 

Preventing Cybersecurity Failure

There you have it: seven reasons why your cybersecurity may fail with the next ransomware attack. A mature cybersecurity practice demands protection, detection, and responsiveness.  

If you’re one of the 52% of enterprises not practicing mature cybersecurity, we recommend immediate resolution with one of NexusTek’s Cybersecurity Solutions packages. Our three plans of various levels of security fit any business’ needs, and each plan has the option to add further features for an even more diligent, multi-layered cybersecurity plan. 

Essential Plan:

This managed protection plan offers 24/7/365 monitoring and alerts with managed cybersecurity and an annual security health review for a crucial foundation of defense. 

Standard Plan:

Building on the protective base of Essential Solutions, this managed protection and response plan adds proactive steps to fortify your business, including security awareness training, managed DNS security, vulnerability scanning, and incident response. 

Advanced Plan:

For robust cybersecurity, this managed detection and response plan enhances a business’ security effectiveness with managed SIEM to detect malware, log correlation and aggregation to analyze malicious logins, and incident response to eliminate threats. A security health review is conducted each quarter to stay on top of vulnerabilities and their solutions. 

Whatever your business security needs, NexusTek has the expertise to bring your cybersecurity up to snuff. 

NexusTek Releases New Cybersecurity Services Plans to Combat Rise in Cyberattacks

NexusTek Releases New Cybersecurity Services Plans to Combat Rise in Cyberattacks

Managed IT services provider devises various cybersecurity plans to protect businesses from increasing social engineering attacks

Denver, CO (July 28, 2021) – NexusTek, a national provider of managed IT services and full IT outsourcing solutions to businesses across the U.S., today announced it has released new managed cybersecurity plans to deliver the necessary protection businesses require for hybrid and remote workforces. The three plans, providing managed protection, detection, and response to cyber threats, provide varied levels of security that are tailored for every business.

The global migration to a remote workforce, as a result of the COVID-19 pandemic, has increased cyber risks, including delayed or unpatched devices, uncatalogued endpoints, and unsecure networks. Cybercriminals are capitalizing on such shifting times and vulnerable employees, and consequently, social engineering attacks have risen.

NexusTek has over 25 years of experience in delivering cybersecurity solutions, and these new managed cybersecurity plans further NexusTek’s commitment to clients, enhancing their security posture and cyber resilience against escalating cyber threats. The pre-packaged plans include the latest security necessities every business requires so companies of all sizes can easily select the strategy that best suits their needs and goals.

“NexusTek is excited to release these newly packaged cybersecurity solutions,” said Randy Nieves, Chief Technology Officer, NexusTek. “Cybersecurity strategies must include solutions that can quickly adapt to combat changing tactics from cybercriminals. The pace at which tactics change makes it very challenging for businesses to keep up and quickly implement comprehensive solutions. Now, we have arranged a comprehensive set of cybersecurity solutions from our best technology vendors into pre-designed plans to make it easy for companies to protect their business and reduce risk. Our Cybersecurity Solutions focus on helping businesses protect their highest at-risk assets: their employees and their data. Our plans are also designed to be extensible and can be easily customized, as needed.”

“The release of our new cybersecurity plans is timely and much needed,” said Bill Wosilius, CEO, NexusTek. “With the steep increase in ransomware attacks over the last 15 months since much of the U.S. started working from home, our new packages make it simple for every business to select the right plan and protect their employees, revenue, brand reputation, and ultimately, national security.”

NexusTek’s Cybersecurity Solutions include three plans—Essential, Standard, and Advanced—which can be viewed in more detail on NexusTek’s website at https://www.nexustek.com/cyber-security-services/.

About NexusTek

Trusted by thousands of businesses for over two decades, NexusTek, a national provider of managed IT services and full IT outsourcing solutions, offers a comprehensive portfolio comprising end-user services, cloud, infrastructure, cybersecurity, and IT consulting. Ranked among the top MSPs in North America and a multi-year CRN Triple Crown Award winner, NexusTek’s 24/7/365 domestically-staffed support team designs holistic technology solutions to improve business continuity, productivity, operational efficiency, and cost-effectiveness for companies across the U.S., Canada, Mexico, and the United Kingdom. As an SSAE 18 SOC II certified company, NexusTek conducts yearly rigorous security audits to ensure customer safety and provide optimal service.

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NexusTek Honored with Microsoft US Partner Award

NexusTek Honored with Microsoft US Partner Award
NexusTek Honored with Microsoft US Partner Award

NexusTek Honored with Microsoft US Partner Award

Managed IT services provider receives the 2021 MSUS Partner Award in Modern Workplace for SMB

Denver, CO (July 21, 2021) – NexusTek, a national provider of managed IT services and full IT outsourcing solutions to businesses across the U.S., today announced it was honored with a 2021 Microsoft US Partner Award in the category of Modern Workplace for SMB. The MSUS Partner Awards program recognizes outstanding work by Microsoft’s US partners.

2020 was a challenging year and, like many businesses, NexusTek had to pivot. After utilizing remote IT solutions to transition hundreds of its own employees to work from home in less than a week, NexusTek was well-equipped to enable prospective and current clients alike with similar solutions. One such client, a nonprofit called Raise the Future, was highlighted in NexusTek’s winning Partner Award nomination.

Raise the Future needed to modernize its technologies and operations to maintain and strengthen the success of its mission in reducing the amount of time youth live in foster care—even in a pandemic. NexusTek led the nonprofit’s digital transformation journey that combined Microsoft’s Azure Active Directory and Intune for system and device management, and Teams and OneDrive for file storage. This modernized workplace solution was just the ticket Raise the Future needed to help children find a caring and permanent home in a world on lockdown.

“NexusTek is honored to receive such recognition from Microsoft. We’re passionate about helping our clients achieve their business goals through technology, and implementing the latest Microsoft solutions is critical for organizations to establish a more modern workplace,” said Bill Wosilius, CEO of NexusTek. “2020’s transition to a remote workforce demanded innovative, collaborative solutions to allow employees to securely and productively work from home. Being a national IT services provider that serves small to mid-sized companies, a market that was significantly impacted by the pandemic, we were well-positioned to support many businesses by transforming their IT operations and empowering them to work from anywhere.

“We’re particularly proud of our work with the client featured in our winning nomination. Helping Raise the Future modernize their operations to better connect youth to permanent homes in the middle of a global pandemic, holds a special place in our hearts. It’s why we love what we do,” he concluded.

Microsoft celebrated NexusTek and the other winning partners during the Microsoft Inspire US – Live Community Connection session, led by Bryson, on July 14.

About NexusTek

Trusted by thousands of businesses for over two decades, NexusTek, a national provider of managed IT services and full IT outsourcing solutions, offers a comprehensive portfolio comprising end-user services, cloud, infrastructure, cybersecurity, and IT consulting. Ranked among the top MSPs in North America and a multi-year CRN Triple Crown Award winner, NexusTek’s 24/7/365 domestically-staffed support team designs holistic technology solutions to improve business continuity, productivity, operational efficiency, and cost-effectiveness for companies across the U.S., Canada, Mexico, and the United Kingdom. As an SSAE 18 SOC II certified company, NexusTek conducts yearly rigorous security audits to ensure customer safety and provide optimal service.

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Cyber Security: 8 Steps to Cyber Resilience

READ TIME: 4 MIN

Cyber Security: 8 Steps to Cyber Resilience

You’ve heard of cyber security, but have you heard of cyber resiliency? Let’s start with definitions:

Cybersecurity includes the technologies and measures utilized to thwart cyber threats.

Cyber resilience is the ability to maintain business operations despite a cyber attack or breach.

No cybersecurity solution is infallible. Cyber resilience involves the understanding that a security threat will eventually penetrate network systems and a robust business will have proactively prepared processes and methods to minimize damage and ensure business continuity.

Both cyber security and cyber resilience are essential to protecting the bottom line, productivity, and brand reputation of a business. With a 69% increase in internet crime in 2020 and a 40-60% chance that a small business will never reopen after data loss, both cyber security and cyber resilience are critical to a company’s endgame.

Let’s breakdown 8 steps businesses must take to optimize cyber security and cyber resilience strategies.

Cybersecurity

Vulnerability Assessment
Perform a comprehensive analysis of business assets to identify gaps or weaknesses that cyber criminals can exploit. Use tools and techniques, including infrastructure penetration testing, to scan for vulnerabilities and assess their potential impact. The findings and their necessary mitigations will guide the rest of your security and resiliency journey.

Defensive Barriers
Shore up weaknesses with the first line of defense, including antivirus protection and firewalls; remember to keep software updated and deploy regular patches. Spam filters decrease the social engineering attacks upon fallible employees. Multi-Factor Authentication (MFA) adds an extra layer of identification to stop cyber threats from slipping through unsecured devices.

Security Awareness Training
Despite cyber defenses, phishing attempts will still slide into inboxes. In a 2020 survey, 89% of Americans thought they were good at cybersecurity but only 10% received an ‘A’ grade. With 23% of data breaches caused by human error, companies must invest in training to help employees identify common social engineering tactics and how to report them.

Proactive monitoring
Cybersecurity demands vigilance. A business must continuously maintain infrastructure and eliminate vulnerabilities with frequent updates. IT teams must proactively monitor network systems and alerts for potential cyber threats. If a security threat breaches the cybersecurity defenses, then hopefully the business has prepared adequate cyber resilience.

Cyber Resilience

Risk Assessment
An enterprise risk management framework assesses potential risks or scenarios that can negatively impact a project or business. The three-step process of risk identification, analysis, and evaluation provides a foundation for the development of business continuity and disaster recovery plans to maintain operations during an internal or even external crisis.

Incident Response Plan
In the event of a cyber breach, a previously tested incident response plan can save up to $2 million, according to IBM. The plan outlines what to do during a system failure or breach; who is responsible for such duties; how to inform team members and customers; and how to assess the effect of any defensive and responsive measures to improve them against future attacks. A well-tested incident response plan can reduce the time needed to identify and contain a data breach by 74 days.

Business Continuity Plan
Another essential proactive plan is the BCP, a set of processes and policies for various circumstances to ensure an organization remains functional despite a crisis. 90% of companies that are unable to recover business operations within five days of a disaster fail within a year, and yet only 49% of companies have a business continuity plan. From automating processes to data restore, a BCP can make all the difference.  

Disaster Recovery Plan
A subset of the BCP, the disaster recovery plan focuses on minimizing damage and restoring the data and information systems of a business. Data should be frequently backed up and preferably stored at an offsite location so that it can be restored promptly in the event of a disaster and prevent data loss. A robust BC/DR plan promotes a swift rebound and improves business uptime, no matter the crisis.

While essential to protect your business, cybersecurity is not enough on its own to guarantee your organization doesn’t sink in the storm or its aftermath. Building cyber resilience ensures your business rolls with the waves. Your IT department may have super cyber defense measures but an outdated or even nonexistent business continuity plan, or vice versa. Checking off all 8 cybersecurity and cyber resilience steps from the to do list takes a full-fledged team with bandwidth for proactive maintenance, monitoring, and testing.

Many companies, particularly small and medium-sized businesses, do not have the personnel headcount, expertise, or time to fulfill all 8 steps. NexusTek’s certified engineers can augment your IT team and provide some or all of the criteria for healthy cybersecurity and cyber resilience. As an award-winning managed service provider, NexusTek helps businesses across the U.S stay vigilant and improve resilience.

Stay secure and resilient with NexusTek