The average cost of a data breach for SMBs is in between $36,000 and $50,000; however, the total expenses could be more when factoring in related costs such as fines, forensic assessment charges, loss of clientele, brand reputation damage, trust, etc. A data breach that introduces ransomware could force an organization out of business if they’re unable to restore or gain access to critical encrypted data.
You may have the best endpoint and security software installed across your company’s hardware, but a committed hacker or a negligent employee is all it requires to bring the entire system down.
After the cyberattack on Target, cybersecurity expert Shawn Henry pointed out: “Innovation is a piece of the option; however it’s not the sole option.” This rings true more than ever today. Relying solely on off-the-shelf antivirus software is a sure-fire way to put your business, employees and clients at risk.
Lots of small businesses will employ the services of a 3rd party to carry out a security evaluation since they do not have the essential experience or understanding of IT security.
It can be a substantial expenditure, getting an assessment by a company that specializes in this field provides companies peace of mind understanding that all security controls are in location, risks are reduced, and vulnerabilities are patched.
The cost of a security evaluation can vary from $1,000 for basic tests to over $50,000, depending on the size of your organization, intricacy of the IT infrastructure, and scope of the assessment.
Vulnerability assessment analysts from big auditing companies might charge up to $500 per hour for reviewing your network for vulnerabilities and noncompliance.