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Cygilant 2020 Predictions: SMBs will be More at Risk of Cyber Attacks

VMblog Predictions 2020 

Industry executives and experts share their predictions for 2020.  Read them in this 12th annual VMblog.com series exclusive.

By Kevin Landt, VP of Product Management at Cygilant

SMBs will be More at Risk of Cyber Attacks

2019 was a banner year for cyber attacks in general, but for small businesses it was especially hard. According to the Verizon 2019 Data Breach Investigations Report (DBIR), 43% of cyber attacks targeted small businesses and cyber attacks on small businesses represented the largest share of all the attacks in the report.

Looking back on the past year, 2019 also taught us that cybersecurity changes quickly, talent is elusive, and resources are dwindling. Cybersecurity is hard work. IT and security professionals have neither the time nor resources needed for the rising number of attacks. Building an in-house cybersecurity program requires time, money, and resources that most small businesses don't have. On top of that, there's the added challenge of finding and retaining skilled security professionals. It is clear that small businesses do not have the IT and security resources or infrastructure to mitigate attacks, but cyber attacks are on the rise and not slowing down.

Now as we head into 2020 and into a new decade, more so than ever before it is critical for small businesses to be able to understand in real-time what is happening on their networks. The problem is, they are undermanned and underfunded, and cybercriminals know they do not have to conduct sophisticated attacks on most small businesses to be successful.

In 2020, attacks on small businesses will reach a fever pitch - as their low-risk, high-reward nature make them irresistible to cybercriminals looking for a quick hit. Because of this, there will also be a greater interest and investment by small businesses in managed services that can help them see their networks and identify potential problems or illicit activity right away.

Investing in managed services will allow small business to grow their cybersecurity team without having to hire talent (that is already hard to find) and ultimately give them peace of mind that their networks are protected. For organizations with limited security budgets, this can provide a cost-effective method for filling in cybersecurity and compliance gaps, while also helping them dramatically reduce security vulnerabilities.

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About the Author

Kevin Landt

Kevin serves as the VP of Product Management at Cygilant, where he leads a team of PMs dedicated to providing enterprise-class security-as-a-service for companies of all sizes. Kevin graduated from Boston University with a BS in Computer Systems Engineering and also received his MBA from Babson. 

Published Wednesday, January 22, 2020 7:42 AM by David Marshall
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