Employees are the weakest link in an organization and are often the first point of contact for a security threat. In fact, the majority of successful cyber-attacks begin with a phishing scam. Vulnerable employees make great targets for phishing scams and social engineering attacks that could lead to further entry into a company’s network.
With over 300,000 new malware threats created daily, and the increasing complexity of cyber threats, businesses of all sizes are struggling to keep their IT environments safe. Inadequate security policies or poorly configured security controls could expose a company to security threats that lead to millions of dollars in damage.
Technology is changing at a rapid rate, and with the advancement of this technology businesses are facing new demands to keep up. Many in-house IT teams are struggling with the demands of upgrading to new technologies and keeping meeting customers’ needs at the same time. When managing IT resources gets in the way of day-to-day tasks, many companies can save time by hiring the right managed services provider. According to MarketsandMarkets the global Managed Services market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period, to reach USD 354.8 billion by 2026 from USD 242.9 billion in 2021
Each year, more companies and organizations advance their adoption of crucial operating software, such as Microsoft Office 365, and the need for cloud-based backup and security solutions becomes increasingly pressing. Microsoft Office 365 security features offer various options that are built into the fabric of the software itself, but as more reliance is placed on an organization’s digital data, the need to have more robust solutions in place that can handle both accidental and deliberate damage is paramount.
With the current circumstances, businesses are under immense stress to function normally. Organizations have been forced to operate remotely, have undergone significant changes in a short amount of time and their networks have become increasingly vulnerable to cyberattacks like ransomware and phishing. This could be for a variety of reasons including weak cybersecurity cultures, the number of remote networks employees are using and business owners wearing too many hats. For all these reasons, managed cloud services are vital to the success of any corporation, but especially during a pandemic when organizations are facing more challenges than usual. Here are 5 benefits of managed services for pandemic planning.
While many organizations don’t have to think twice about protecting on-premise data, several don’t realize that they still need to protect their Cloud data, like data from Microsoft Office 365. Instead of running Microsoft applications themselves, businesses are consuming it as a service. Hosted in the Cloud, businesses can get the most up-to-date versions of the Microsoft Office Suite, OneDrive, and mobile apps. This allows users to access and edit documents anywhere, at any time, on any device. Office 365 is an example of Software as a Service (SaaS), but many SaaS applications have no data protection capabilities.
Cloud adoption by financial institutions has been on the rise. According to PwC, by 2020 core financial services like credit scoring, statements management, payments, and billing will use the cloud for processing and computing. From retail banking to collection agencies to asset management and investment banking, the cloud provides many use cases to bring scalability, cost savings and higher security to financial institutions.
The largest financial institutions have already adopted cloud technology. But it’s not just the J.P. Morgan’s or Bank of America’s of the world. Smaller financial institutions are finding the same benefits in cloud computing and cybersecurity practices that enterprises are leveraging. Here are 7 reasons financial institutions need cloud computing and cybersecurity.
1. Cost Savings
Financial institutions are leveraging the cloud to move IT operations to an operating expense model (OpEx). IT hardware and underlying infrastructure is expensive, and financial institutions are concerned about the rising costs associated with running data centers. Additionally, on-premise data centers are difficult to scale, and any growth requires large capital expenditures. Instead, hybrid cloud strategies allow banks and collection agencies to safeguard mission-critical data in the cloud without the high cost and maintenance that typical on-premise centers come with.
In today’s digitized world, cyberattacks are inevitable if businesses aren’t proactive in their protection. Regardless of business size, it’s only a matter of time before organizations become victims due to the absence of cloud computing and security solutions. In fact, 81% of cyberattacks affect small to medium-sized businesses, simply because they lack cloud knowledge.
Topics: Cloud Computing, Backup, Cloud Security, Cloud Storage, healthcare, Cybersecurity, SIEM, Intrusion Detection and Prevention, Office 365 Backup, Cloud Solutions, Identity Management, Security as a Service
NewCloud Networks specializes in cloud computing and cloud communications services. These services include private, public, and hybrid cloud, backup as a service, disaster recovery as a service, security as a service, and even hosted phones. Storing data, visualizing data, and protecting data from hackers, disasters, or simple user error, are just a couple of use cases for our cloud services.