For small and medium businesses (SMBs), digital transformation has been a double edged sword. Cloud technologies and IoT devices have boosted productivity during a punishing pandemic where every dollar counts. But these advances have come at a cost. Right now, SMB cybersecurity is failing to deal with a tsunami of cyberthreats.
According to IBM, 52 percent of SMBs have likely experienced a cyber attack in the last year. For many, the next breach may also be their last. Cybercrime Magazine reports the financial pressure and reputational damage of a data breach results in around 60 percent of hacked small organizations going bust within six months.
SMBs have a lot at stake when it comes to cyberthreats. They lack larger enterprises’ capacity to absorb ransom payments and reconstruction costs, and the ability to shrug off bad PR. This means for most small and medium-sized organizations, a reactive security strategy kicks in too late to really help. So SMBs need a security posture that stops attacks before they happen. Tools like next generation antivirus (NGAV), endpoint detection and response (EDR), and extended detection and response (XDR) can stop and remediate already known threats. However, they don’t prevent zero-day exploits and in-memory attacks—but