Cybersecurity | August 1, 2023

16 Warning Signs Your Business Needs a Managed Cybersecurity Service

Do you feel like your company won’t ever experience a data breach? Think again.

Research shows around seven data breach notices were issued every business day in 2022.

Online hackers are lurking around every virtual corner, but a managed cybersecurity service can help you protect your data. Let’s explore 16 warning signs your business needs a managed cybersecurity service.

1. Skyrocketing IT Costs

Are your information technology (IT) costs rising significantly? A common cause of rising IT expenses is outdated software and technology.

Sticking with your existing technology might save you money, as you won’t have to acquire new technology, but it may also drive up your maintenance costs.

A managed cybersecurity service provider can set up a cost-effective IT solution for you.

Your service provider can also help you avoid a large upfront payment. Choose a technological solution with a manageable monthly payment plan instead.

2. Outdated Cybersecurity

Another warning sign your business needs a managed cybersecurity service is if you have an outdated cybersecurity infrastructure.

Experts in 2022 found 500,000 brand-new malware variants. This means your business will likely experience a cyber-attack at some point. Your chances of suffering a breach exponentially increase if your company’s cyber security isn’t current.

Keeping up with today’s security standards on your own isn’t easy. A managed service provider can handle this task for you to protect you from malicious assaults.

The right service will strengthen your information systems by updating all programs and software regularly. They’ll also constantly monitor your systems for possible vulnerabilities (more on monitoring later).

Maintaining your company’s systems is more cost-efficient than responding to cybersecurity assaults, as these attacks may cause expensive downtime for your company.

3. Frustrated IT Team

Yet another sign you need a managed IT service team is if your company’s IT team is frustrated with your outdated systems and the downtime they cause. This can prevent your workers from performing their jobs effectively.

A functioning IT system is especially important if you have a remote or hybrid workplace (more on remote workplaces later). A healthy system will enable your workers to easily collaborate even when physically apart.

The more efficiently your business team can work due to having a seamless IT system, the more productive they’ll be, and the more satisfied you and your team will be.

4. Limited IT Team Capacity

You may be asking, “Why should I hire a cybersecurity service if I already have an IT team?”

Hiring a managed IT service is an excellent idea for several reasons.

If your business is medium-sized or small, your IT team may not have the capacity to handle all of their daily tasks. They might spend most of their time responding to emergencies and place maintenance tasks on the back burner.

A reputable managed service provider can give your IT team the help they need to handle everything on their plate. This includes taking care of the following:

  • Hardware issues
  • Threat prevention
  • Network problems
  • Training
  • Updates
  • Researching the latest cybersecurity threats

This will improve your IT team’s efficiency. Streamlining your IT security will also boost your other employees’ productivity by preventing security breach-related downtime (more on downtime later).

Employee Knowledge

Have you ever spoken with your staff about your firm’s cybersecurity policies? If not, they likely don’t know the security risks they face. Your team might not understand what breaches look like or how to identify breaches before using technological devices at work.

Providing top-level cybersecurity is a tricky task that shouldn’t be left to a lower-level employee. A reputable managed service provider has a team of experts you can trust to protect your company’s data from hackers. They’ll run scans and manage your network daily so your lower-level workers can focus on doing their jobs.

5. Regular Downtime

Constant downtime is another sign you need a managed cybersecurity service. More than 90% of organizations reported that one hour of downtime cost them more than $300,000. This was due to productivity disruptions, remediation efforts, and lost business.

An optimal IT infrastructure will lead to less downtime. A cybersecurity service can easily set up this type of infrastructure for you. This will improve your security posture and decrease your number of software issues and hardware defects.

The right service will also monitor your system 24/7 to catch possible problems before they happen. They’ll schedule updates when your staff is out of the office, too. This will keep your system running properly during business hours.

6. Not Checking for Vulnerabilities

When was the last time you checked for security vulnerabilities at your company? Now is a good time to hire a managed cybersecurity company to handle this task for you if you’ve neglected it.

Your cybersecurity company will first update all of your operating systems and software. This includes updating easy-to-overlook technologies that run important parts of your business.

The company might also suggest implementing higher-quality password protection company-wide for your employees and customers.

The best passwords use a mixture of numbers and letters and are each 12 characters or more long. They use both lowercase and uppercase letters, special symbols, and numbers. They aren’t based on a user’s personal information.

Encourage your employees to create unique passwords for every account they have.

A managed service provider will test your operating systems and software for vulnerabilities once you’ve solidified your password protection.

7. No Personal Device Protocols

Does your company have a protocol for dealing with employees’ personal devices? Hire a managed service provider if you don’t have one in place.

Let’s say your workers like bringing their smartphones to work. They likely connect their devices to the company’s network frequently. This makes them vulnerable to hacking.

Hackers may use your employees’ devices to get inside your company’s systems. They can then steal your data or damage your systems if they find vulnerabilities.

A managed service provider can help you create a strong personal device protocol. They’ll also help train your staff on the risks associated with bringing their devices to work.

The right training and protocol will protect your business’s privacy and data, keeping your business’s secrets safe from various security threats. These include hackers, malware, and viruses.

The goal is to create a robust personal device policy that promotes a healthy work-life balance, too. Your employees can bring their phones to work to stay in touch with loved ones without having to worry about being compromised.

8. No Employee Termination IT Protocols

Perhaps your business has no employee termination IT protocol in place. A managed cybersecurity company can help you create and enforce one. This will further protect your business’s data from being breached.

Any sensitive data on a departing employee’s device should be wiped as soon as possible. This will keep them from accessing your company’s data after they’ve left.

A detailed employee termination IT policy will help you do this efficiently, saving resources and time. Your managed service provider will also update this data security protocol as needed.

9. Storing Confidential Information

Does your company’s database hold confidential client information?

Most medium-sized and small enterprises assume they have no information worth stealing. However, companies of all sizes collect and store the same types of data. This makes your business vulnerable to hackers, no matter how large or small it is.

Investing in a managed cybersecurity company can help you protect your business’s confidential data. Client data may include the following:

  • Email addresses
  • Home addresses
  • Full names

Employee data may also be in your database and need to be protected. This information might include your workers’ Social Security numbers and dates of birth.

10. Third-Party Work

Maybe you work collaboratively with third parties. Your supply chain might undergo a cybersecurity attack.

Your suppliers aren’t the only weak link in your business, though. Your partners and vendors may also put your business’s data at risk.

This is why hiring a managed service provider is so important. They’ll make sure your systems are secure even if your vendors and suppliers don’t have cybersecurity solutions.

11. Handling Monetary Transactions

Hiring a managed cybersecurity company is wise if your company performs financial transactions. Hackers may try to access your financial data, so take your cybersecurity seriously.

Watch out for a hacker technique called e-skimming. This is where cybercriminals gain access to your digital business’s web server to intercept financial information.

Cybercriminals especially target online stores for financial credentials. A managed cybersecurity service will work hard to shield your customers’ credit card information from these criminals.

12. Fears About Worker Negligence

Are your workers negligent with your company’s data? A managed cybersecurity company can help.

Employees are one of your company’s most vulnerable links in your company’s cybersecurity chain. They’re easy targets since many have subpar online habits, such as using weak passwords.

Phishing is an especially big cybersecurity concern affecting employees.

Phishing is where a criminal sends a legitimate-looking email to entice recipients to click on a malicious file or link so they can infiltrate the data on the recipients’ computers. These types of emails are becoming harder to detect today.

Modern cybercriminals are becoming more sophisticated in how they carry out their phishing scams. They may use digital video games, social media sites, or a file-sharing service.

Your managed cybersecurity service can help you implement security solutions to protect your data even when your workers are negligent. They’ll also train your employees on how to reduce cybersecurity-related risks.

13. Remote Work

Do you have remote workers? Consider hiring a managed cybersecurity company to keep your data safe.

Shifting to hybrid or remote work may improve your workers’ productivity and save on operational costs. It brings new security risks, though.

Workers may use their personal networks and devices to conduct business at home. This is problematic if their technologies don’t have up-to-date cybersecurity safeguards.

Your managed service provider can upgrade your remote workers’ systems to protect your data while giving them the flexibility to work from home.

14. Concerns About Regulations

Do you know which cybersecurity regulations apply to your type of business and industry? Hire a managed cybersecurity company to help you stay compliant.

Your service provider can explain to you how current regulations may affect your systems. You can then institute policies that align with these standards.

An example of a data protection standard to follow is the General Data Protection Regulation, or GDPR. This legal European Union framework establishes guidelines for collecting and processing personal information.

15. Poor Network Visibility

Do you have a hard time seeing your company’s IT network? Hire a cybersecurity service provider as soon as possible.

Businesses should know what their IT networks look like and where their data are stored. They should also know how data transfers occur and who can access their data.

A cybersecurity professional can give you a detailed overview of your company’s network. They’ll also highlight your potential vulnerabilities. This will increase your chances of safeguarding your company’s data.

16. Prior Cyber Threat

Have you already experienced a cybersecurity threat? This is a sign you need a managed cybersecurity professional’s help.

Your cybersecurity service may change your program or technology to better protect your data. They may do this after studying your previous threat, identifying the cause, and pinpointing any flaws in your previous security system.

How We Can Help

A managed cybersecurity service is worth investing in if you’re experiencing downtime or risking IT costs due to security threats. Hiring a cybersecurity company is also wise if you perform financial transactions and store confidential data.

At Empist, we’re excited to offer high-quality IT services and digital solutions for businesses of all sizes. Our services include cloud services, cybersecurity, and web maintenance.

Get in touch with us to learn more about our services, and partner with us today!