There is a tendency for small and medium-sized businesses (SMBs) to underestimate the importance of cybersecurity as they assume digital attackers only go after larger enterprises.
But statistics indicate a different truth. SMBs are the target of nearly half of digital attacks, yet just 14% are prepared to defend themselves.
This is especially worrisome in today’s rapidly evolving threat landscape, where 47% of small and medium enterprises reported experiencing five or more attacks in 2020.
What makes matters worse is that 83% of small and medium-sized businesses are not financially prepared to deal with the fallout from a cyberattack.
And it is not just external tech villains that they have to cope with. Internal threats from well-intentioned but incautious employees as well as deliberate, malicious acts are also significant causes for concern, with the average cost of an insider threat to small organizations being around $8 million.
This is an important source of vulnerability for businesses with fewer hands on board, where more people have access to sensitive data and systems due to the larger scope of their work.
There is an urgent need for SMB executives to make high-tech security a top priority. But it is a Catch-22.
Over 30% of these businesses cite budget constraints as the greatest barrier to digital security, and many cybersecurity firms are focused on selling complex, expensive tech solutions.
This, coupled with a not-so-inclusive definition of SMBs, means a considerable number of true SMBs are overlooked and underserved in the cybersecurity space.
TEKRiSQ is changing the game
Having spotted this gap and cognizant of the huge economic contribution of these businesses, Florida-based TEKRiSQ is pursuing a mission to transform SMB cybersecurity preparedness by simplifying the way these businesses protect themselves.
The company believes identifying technology risks is a critical first step in devising a path toward protection and has developed an array of solutions to help SMBs across different industries diagnose and minimize such risks “easily, quickly, and affordably”.
With a special focus on firms with less than 250 employees, TEKRiSQ is harnessing the power of “automation” as well as “simple and proven modern methods” to redesign the process of protecting clients against IT risks so that they can concentrate on growing their business.
Team of experts
TEKRiSQ’s team of experienced technology professionals with strong expertise in IT, data security, healthcare, and software industries is led by co-founders Bill Haber and Dean Mechlowitz.
Haber has over 25 years of commercial and operational leadership in enterprise software, digital health, medical device, and network technology startups. He is specialized in monetizing platform software, cloud-based tools, data products, and network infrastructure solutions.
Mechlowitz has worked for nearly three decades as an enterprise software and technology-focused sales leader, having been recognized as an accomplished revenue leader and senior executive in bleeding-edge companies from startups to Fortune 100 companies.
Risk assessment, management, and prevention
Risk assessment, risk management, and risk prevention lie at the heart of what TEKRiSQ does to make sure that cybersecurity no longer misses the mark in small and medium enterprises.
In the assessment process, they “pinpoint key risks in as little as 30 minutes to profile a client’s ability to prevent, respond to, and mitigate risks.” Their platform transforms data into documents to handle requests from regulators, partners, and customers.
To help SMBs manage risks more efficiently, TEKRiSQ makes “actionable, pragmatic recommendations” that they can “easily and affordably” implement to limit exposure to business risks.
The company’s offerings also include “easy-to-use” solutions, services, and training to fill cybersecurity gaps and equip team members with basic knowledge to turn them into the strongest asset of the business.
To get started, businesses can complete a form to create their free account and take the first step toward adopting the right strategies for fighting cyberthreats.
Disclaimer: This article mentions a client of an Espacio portfolio company.
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