At Supere, we understand the importance of cyber security in today’s digital world. That’s why we offer a Cyber Security Package to help protect your business from evolving cyber threats and vulnerabilities.
Cyber security is important for businesses because it protects your company from unauthorised information disclosure, theft or loss of hardware, software or data, and disruption or misdirection of your services. Not taking cyber security seriously can lead to irreparable reputational damage, fines, and issues with licensing in case of regulated businesses, adverse media coverage, increased anxiety and stress levels in the workforce, and problems related to areas such as GDPR. More often than not, cyber attacks result in direct loss of revenue.
Supere is Cyber Essentials Certified and able to help your business become Cyber Essentials Certified as well. Cyber Essentials is a UK government-backed scheme that sets out a good baseline of cyber security suitable for all organisations in all sectors. The scheme addresses five key controls that, when implemented correctly, can prevent around 80% of cyber attacks.
In the UK, over 1.5 million firms were compromised by threat actors last year, costing them more than £31.5 bn. In the United Kingdom, the average estimated cost of a cyber attack encompasses various factors, including ransom payments, recovery efforts, and downtime. Let’s break it down.
Ransom Payments
Organisations that pay ransom face an average cost of £4.10 million (excluding the initial ransom demand).
The process of identifying and containing the breach typically takes around 237 days, with an additional 89 days for containment.
For those organisations that choose not to pay the ransom, the costs escalate to an average of £4.62 million.
Recovery Costs
Recovering from a ransomware attack can be significantly expensive. On average, the total cost of recovery has more than doubled in a year, increasing from £761,106 to £1.85 million in 2021.
The cost of recovery includes efforts to restore systems, data, and operational functionality.
Downtime Impact
Downtime resulting from cyber-attacks can have severe consequences. It is generally estimated that recovering from a ransomware attack is approximately 10 times the size of the ransom payment.
The overall impact on businesses and organizations can be substantial, affecting productivity, customer trust, and financial stability.
These statistics highlight the importance of having good cyber security in place to protect your business.
At Supere, we are committed to providing you with the cyber security solutions you need to keep your business safe and secure. Contact us today to learn more about our Cyber Security Package and how we can help your business become Cyber Essentials Certified.
