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Exploring Cybersecurity Options with Your IT Consulting Service Provider in Los Angeles
Cybersecurity is a serious matter for IT consulting companies in Los Angeles. Given the speed and sophistication with which threats have evolved through the years, IT companies are stepping up when it comes to providing enterprise-grade security to their clients.
Before, threats were mere inconveniences like spam emails and pop-up ads. They were annoying but easy to spot, as well as ignore or get rid of. But now, threats are full-blown attacks capable of debilitating systems and networks, causing downtime and data loss, which both result in financial and reputational impact.
Cost of Cybersecurity Breaches
According to Accenture's 2019 Cost of Cybercrime Study, the average annual cost of cybercrime in the US is $27.37 million, putting it at the top of the list of cost by country. Out of all affected industries, the banking industry suffers the most with $18.37 million worth of losses. This doesn't come as a surprise because aside from hacking directly into accounts to siphon off funds, cybercriminals also collect financial information and sell it to the highest bidders on the dark web's black market.
Small and medium-sized businesses (SMBs), which most IT consulting service providers Los Angeles cater to, are targeted as well because their security isn't as stringent due to budget constraints. According to the 2018 Cisco Cybersecurity Report, 53% of midmarket companies have been attacked and consequently experienced a breach. Out of these companies, around a fifth say that the breaches cost them anywhere from $1 million to $3 million. That's a lot of money to lose for SMBs.
Beyond Monetary Losses
The aforementioned amounts cover expenses such as recovering lost data, restoring operations to normal, implementing stricter security protocols, paying fines and legal fees, settling damage claims, and improving public image post-breach. But these amounts don't cover the cost of losing loyal customers and failing to attract new ones because of broken trust. It takes long for a company to build a good reputation, but even longer to rebuild it.
Role of MSP in Security
Fortunately, companies don't have to brave the cybersecurity landscape by themselves. Los Angeles IT support providers can fortify a company's security with the services they offer, such as dark web monitoring, risk assessments, breach prevention, internet content filter, backup redundancy, and disaster recovery. Security awareness training is also offered to employees to ensure that they can spot a threat like phishing emails.
If you're looking for a reliable IT consulting solutions provider Los Angeles, we at DCG Technical Solutions are happy to help. We offer a variety of services which include cybersecurity. Contact us now to learn more about our solutions.