Remember that classic Gershwin song, performed by Louis Armstrong and Ella Fitzgerald, where they sang: “You say tomato, I say tomahto, you say potato, I say potahto…”? It’s a catchy tune that sticks in your mind, but it carries an important message: when it comes to cybersecurity vs cyber security, small differences in language don’t matter in the grand scheme of things.
When it comes to managed IT services, the debate about how to spell cybersecurity can spark extended debates. However, the answer remains the same: The terminology isn’t crucial; what truly matters is the protection of your business.
In the realm of cyber security, the goal is to shield your business’s systems, networks and software applications from potential attacks. Cyberattacks (sometimes written as cyber attacks) come in various forms, including malware, phishing, DDoS attacks, SQL injections and more.
These attacks have the potential to severely disrupt or even cripple your business operations.
While the world of cyber security might seem complex and intimidating, it’s important not to dismiss it outright.
Why?
Because cyber security is necessary. (Trust us: You need it.) As your managed service provider, our role is to serve as your first line of defense against cyber criminals who pose a threat to your business.
Here’s why you shouldn’t “call the whole thing off” and why enlisting the support of cyber security experts like us is a wise decision:
Cyber Crime Is Pervasive
Ginni Rometty, CEO of IBM, aptly stated that cybercrime is “the greatest threat to every profession, every industry, every company in the world.” Don’t make the mistake of assuming your business is immune, especially if you’re not following IT compliance standards.
A majority of U.S. companies have fallen victim to some form of cyber attack. According to a recent report by the University of North Georgia, an estimated 54 percent of companies say they have experienced one or more attacks in the last 12 months.
The Risk Grows Every Day
At this point, you’ve likely gathered the spelling debate between cybersecurity vs cyber security shouldn’t matter. There are far more important things to contend with.
Since the emergence of COVID-19, reported cyber crimes have surged by a staggering 300 percent, according to the FBI. And these are just the incidents that have been detected.
As former FBI Director James Comey highlighted, “There are two kinds of companies in the United States: those who’ve been hacked… and those who don’t know they’ve been hacked.”
The Cost of Inadequate Protection
Labeling cyber attacks as expensive is an understatement. The repercussions of insufficient cyber security can lead to substantial financial losses.
According to an article published by SC Media, A CyberRisk Alliance Resource, ransomware attacks cost companies on average $1.82 million to recover in 2023, and that doesn’t even include paying the ransom. And for companies with less than $10 million in annual revenue, the average cost of recovery was $165,520.
And, if you’re doing business on Macs, it’s a good idea to secure your devices with Apple managed services.
Unpredictable and Swift Attacks
According to a Netscout report, it takes a mere five minutes to hack an internet-connected device, encompassing smartphones, laptops, smartwatches and even office control systems. By the time you realize the need for protection, the damage might already be done.
The Gravest Consequence? Business Closure
Perhaps the most chilling consequence of inadequate cyber security is the potential destruction of everything you’ve painstakingly built. Shockingly, an article by Inc. magazine states that 60 percent of small businesses that suffer a major cybercrime incident ultimately go out of business.
Even if your business manages to survive a cyberattack, an ArcServe survey revealed that 59 percent of consumers said they would avoid doing business with a company that has suffered a data breach in the last year.
The bottom line?
If you don’t have cybersecurity measures in place, your business’s days are numbered.
Cybersecurity vs Cyber Security: The Good News
These facts can be unsettling, but here’s the silver lining: Aeko Technologies has assembled a dedicated team of cyber security professionals who are committed to safeguarding your data. Whether you lean toward “cybersecurity” or “cyber security,” we have you covered.
Contact us or book a meeting to embark on your journey toward enhanced cyber protection.
Your business’s security is our top priority.
Are you aware of the most common cyberattack methods?
Did you know there are over 3.4 billion phishing emails sent every day? Phishing and other cybercriminal behavior are a lot more common than you’d think.
Our free “Phishing, Smishing, Vishing, Pharming? A Cyberattacks Guide” will inform you about cyberattack methods and give you the latest in data security tips.
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