Research reveals mid-market companies are also missing basic security measures including regular security assessments, intrusion detection and end point protection.
Despite security being a top priority for mid-market businesses, over a quarter (28%) of companies expect to fall victim to a cyber-attack in 2018, according to the ‘Mid-market IT priorities 2018’ report by Node4. The research also reveals that nearly a quarter (23%) of IT decision makers are worried that if they are breached they might not know it’s happened. This is particularly unsettling given that the EU General Data Protection Regulation (GDPR) is now in effect.
The threat landscape is constantly evolving with the prevalence of increasingly sophisticated threat vectors such as AI-powered attacks, sandbox-evading malware and state-sponsored attacks. In effect mid-market businesses must ensure that basic security measures are being implemented. Despite 42% of IT decision classing data loss and its cost to the business as their primary concern, Node4’s report discovers that:64% of companies are not conducting regular security assessments of their systems; 61% do not have intrusion detection in place; 62% lack end point protection
Almost a quarter (23%) of mid-sized businesses also feel disadvantaged by not having dedicated security staff. In fact, security is the biggest skill gap that exists in the mid-market, which makes tackling the problem a serious drain on manpower and financial resources.
“The consequences of inadequate threat management and lack of visibility into the network could have far-reaching consequences for mid-sized businesses, especially now GDPR is in effect,” commented Steve Nice, Chief Technologist, Node4. “As threat vectors and hacker tactics constantly evolve, protecting a business is becoming an increasingly difficult challenge, but we can take that headache away by providing a fully managed service that continuously monitors every type of threat.”
“As one of the biggest sectors is fuelling the UK economy, mid-market organisations can’t afford to be let down by technology. They must look to tools and suppliers that help alleviate and empower employees, enhance current processes, and outsource management of business-critical operations such as security,” continued Nice.