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Why Monitored System Backups is Essential for Business

With cloud backups becoming the standard for both business and personal data, it’s important to think about the security of those backups. Most businesses are adopting the cloud to store, share, and create data, but that doesn’t mean they’re well-protected. Monitored system backups is the only way to all but guarantee that your business’s backups are safe from threats.

With MDR services offered by Sentinel One, your backups will always be monitored and protected. But why should this even be a concern? Let’s take a closer look at why monitored system backups are essential for business.

Adopting The Cloud

Thousands of businesses across the country and the globe have adopted the cloud as the new standard for storing, sharing and collaborating on information. There are cloud storage services, cloud computing services, cloud everything. The cloud is a relatively secure place, but given that it lives on the web, it’s potentially hackable.

Even with the cloud becoming the standard, many businesses still don’t back up their data properly. A single hack could corrupt or completely erase a company’s data, or worse; hold it ransom. Ransomware is becoming a serious threat to businesses, and hackers are beginning to learn that it’s far more profitable to attack a business with abundant resources than to attack the average web user. Even though businesses have dedicated IT teams and often have protection from third-party services, a business can’t afford to suspend operations for long.

Ransomware effectively locks users out of a system until a ransom is paid. What’s worse is that once the hacker is in the system, there’s no telling what kind of (or much) data they have access to.

Cloud backups are a good idea, but having monitored backups is truly the best way to create and store your company’s backup information. With monitored backups, everything is under constant surveillance, which means quicker reaction times, better reporting, and mitigating the costs of a data breach.

Data Breach Repercussions

Speaking of cost, let’s talk about the repercussions you can expect from a data breach, and how monitoring your backups can help you protect against the damage.

The average cost of a data breach for an SMB varies across different industries, but generally falls somewhere between $30,000 and $1,000,000. You read that correctly—one million dollars. It’s safe to say that most small businesses don’t have a handy million dollars lying around for such occurrences, which means that a single data breach could potentially cripple your entire organization.

Not to mention, the costs fall far beyond just monetary loss. Your company’s reputation can be potentially tarnished, causing a huge drop in income and taking years to recover from, if at all.

A data breach exposes data that can be used against the business for years to come. Even the largest and most successful companies aren’t immune to data branches. Some notable breaches from the last 20 years include:

  • The Target breach of 2013 (around $300 million in damages)
  • The Adobe breach of 2013 (around $2.1 million in damages)
  • The Adult Friend Finder breach of 2016 (around 412 million accounts compromised)
  • The eBay breach of 2014 (around 145 million compromised records)

The bottom line is that a data breach can affect any business at any time. That means you must have backups of your information, or else fall victim to the demands of the hacker who’s stolen your information.

Cyber Threats Are Becoming More Sophisticated

Perhaps the most compelling reason to have backups of all of your information is that cyber threats are becoming increasingly sophisticated. As our technology advances, unfortunately, the hackers do, too. Nowadays, company or personal data can sell on the dark web for just a few dollars per record to thousands of dollars per record, making cyber crime a lucrative operation.

During the pandemic, the FBI reported an almost 400% increase in cyber crimes. With more unsecured remote desktops entering the business world, hackers exploited the panic and unpreparedness of the average business to gain company information, exploit money, and cripple small businesses. Cyber security today should be one of the prime concerns of any new or seasoned business owner.

Of course, protecting your company’s data doesn’t fall solely on the shoulders of you and your IT team. It’s up to your employees to help protect the company’s data by following rules like:

  • No sharing company passwords
  • No using company or personal information in passwords
  • No discussing company cybersecurity with others
  • Do not open suspicious emails or download files from them
  • Use only the company computer/device to access company WiFi/servers
  • If working remotely, use a secure network

The Bottom Line

Monitored system backups can get you up and running again in the event of a cybersecurity attack, natural or man-made disaster, or some other catastrophic event. It’s important to back up everything you can from your business, so make the investment today and get monitored backups for maximum protection.