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Why your firm should invest more in security

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Christophe Verhaeghe
Team Manager, EASI

If you’re not convinced by the fact that two thirds of all SME’s already had to endure a cyberattack, I’ll try to convince you: securing your firm is worth looking into and I’ll show you how.

Everybody is a target

The numbers don’t lie. Two thirds of Belgian companies are already victims of cybercrime. Among other things, this concerns unauthorized access to the IT systems, incidents that lead to an ICT failure, industrial espionage, cyber extortion and –blackmailing or fraud with online banking (e-commerce).

The danger is underestimated

We cannot stress enough that the result of an attack could have a serious impact on your firm. Research from insurance broker Vanbreda Risk & Benefits shows that the damage for SME’s on average rises to about 20,000 euros. For companies whose business processes could be shut down, the damage can easily rise to millions. This goes especially for companies with production lines, a lot of logistics and webshops. And at this point, nothing has been said about the damage to your reputation.

Nevertheless, figures from Unizo show that only 10% of entrepreneurs have insured themselves against cybercrime. 41% consider the risk of a cyber issue too limited to better protect themselves against cyber crime.

Why you have to act now

Although 67% of companies already had to deal with a cyberattack, four out of ten companies say the risk of a cyberattack is too small.

We understand them. More than 90% of all companies in our country are small to medium-sized enterprises (SMEs). It is therefore logical that their biggest concern is: generating business. Security just isn’t 'top of mind' for everyone. And that’s something research confirms: one out of five SMEs in our country is poorly secured.

It’s not easy for companies to find the right solution for their business when there are so many security solution around to choose from. That’s why some companies prefer to take their own security measures, others prefer to outsource their security to a professional company. Because everybody is different, we created a handy guide that will help you choose the ideal solution for you.

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