The hackers are after the SMEs, time to empower your security with a practical solution!
Singapore: Regardless of the scale of your business, no enterprise is safe from hackers. In this fast-paced digital world, the risk of cyber-attacks is increasing. According to Ponemon’s State of Cybersecurity report, two-thirds of the SMEs were attacked last year, and 63% of the companies suffered from data breaches. Hackers are starting to target the security weaknesses of SMEs.
Bogged down by obstacles to financing and resources, SMEs often prioritize short-term business productivity and revenue gains instead of long-term cybersecurity investments. Consequently, many SMEs find themselves in a Catch-22 situation, bearing the brunt of dire business impacts.
Beyond the short-term consequences of data loss, longer-term effects can even lead businesses to dissolution. These include employee layoffs, business closures, and irreparable reputational damage. Therefore, this highlights the need for a cybersecurity solution to defend the last line of your data source.
The alarming numbers of cyber-attacks in SMEs.
In a more recent study by Varonis, it uncovered the following devastating effects of cyber-threats on small and medium businesses:
The cyber-threats have devastating effects on small businesses as shared by:
95% of cybersecurity breaches occur due to human error - perhaps you or your employee is responsible for that.
43% of cyberattacks target small businesses - due to the difficulty to achieve Awareness, Cost, and Talents (ACT) to deal with the rising threats.
On average, only 5% of companies’ folders are properly protected - this means that 95% of the information is left open to cyber theft.
It takes 207 days on average to identify a breach in 2020 - it can stay for almost 7 months in the network without anyone knowing it.
Around 54% of companies experienced one or more attacks in the last 12 months - this trend and frequency are likely to rise due to technological advancement.
Why are SMEs the easy target?
SMEs generally face three common hurdles to establishing robust cybersecurity systems, which we refer to as “ACT”:
Awareness – The cybersecurity world is a very specialised and fast-evolving landscape – even for experts. For SMEs, cybersecurity is not something that directly impacts their day-to-day business, performance, or growth. Because of this, many often lack awareness and understanding or take the risks of cyber-attacks lightly. Without the technical capabilities, expertise, and training to address such threats, many SMEs find themselves ill-equipped to implement the necessary steps to protect their data.
Cost – Given the current software and signature-based protection paradigm, building and maintaining a robust cybersecurity infrastructure is a costly undertaking. In addition, there is a need to continually maintain, update, and strengthen this infrastructure over time to address new threats, which means more funds and resources need to be allocated on an ongoing basis. Many SMEs, which are already facing tighter cash flows and fewer resources than multinational corporations (MNCs), may not have such funds set aside to strengthen their cybersecurity safeguards.
Talent - Even as SMEs accelerate their digitisation efforts to contend with today’s competitive economic climate, they may find it challenging to make the necessary security investments – whether through building an in-house team of specialists or enlisting a costly third-party vendor for support. Without a ready pool of talents, it is difficult for SME owners to plan, set up, and maintain the proper cybersecurity infrastructure to protect against both known and unknown threats, now and into the future.
A top-notch cybersecurity solution is essential in SMEs
To protect your business from any form of cyber-attacks, your cybersecurity infrastructure must operate at 100% efficiency at all times. Akin to defending physical borders with sentries and guards, your defence against your enterprise’s digital borders must be able to recognize and protect against every threat that comes your way. However, it only takes one successful incursion to wreak havoc on the entire system.
For a long time, software-based cyber protection has been the only safeguard to ensure protection against cyber threats. However, software defences like anti-virus still need to identify and recognize the threats before they act. To do this, they must rely on constant updates to identify the latest threats. Failure to do so could invite unknown actors to exploit the system’s vulnerabilities and cause irreparable damage.
The rate of new emerging viruses and cybercrime techniques is constantly rising that software protection fails to keep up with. Therefore, an AI-embedded cybersecurity solution is essential to maintain cybersecurity from the core. The X-PHY® SSD protects your business from the inside out.
The X-PHY® SSD is a user-friendly plug-and-play solution that effectively screens and monitors for threats in real-time. With AI security positioned at the firmware level, it can deliver the fastest response time to block out malicious actors before they touch your data. It is an effective solution for small and medium businesses to shield their crucial data with self-regulatory features to keep out threats. The security features of X-PHY® includes:
Defends known or unknown ransomware
Enables real-time monitoring and analysis to react against suspicious activities quickly
Protects SSD from physical attacks, such as device removal or side-channel attacks
Entails easy-to-use dynamic authentication process through 2-factor authentication
Provides a user-friendly interface for deployment and day-to-day usage by any non-savvy personnel
No cybersecurity experience required
The X-PHY® is a standalone AI cybersecurity solution for small businesses with little or no cybersecurity infrastructure in place. It can even complement the existing cybersecurity infrastructure with software defences for larger companies, corporations, and critical infrastructures like Banking, Healthcare, Military & Police, Power & Water, Telecommunications, Transport (BH-MPPW-TT).
All in all, X-PHY® is the last line of defence that protects your most crucial data.
For more information, please check out our X-PHY® Cyber Secure SSD at https://x-phy.com/x-phy-embedded-ai-cyber-secure-ssd/ or email your inquiries to firstname.lastname@example.org