Small businesses are unique as they are usually trying very hard to balance growth opportunities while spending just enough on the essentials to stay in business. Keeping this in mind, small businesses cannot afford to avoid network security monitoring.
Why is network security monitoring essential to keeping a small business in the back?
Network monitoring is a system that makes sure the network is continually monitored to make sure all is well – no data breaches, no unauthorized access, no loss of data – and alerts an IT professional if there is a threat.
High costs keep most small businesses from investing in additional safeguards for their network. These dollars can be spent on other business essential tools that see a higher return on the investment. However, if the worst happens and a data breach occurs, you could be out more than you think.
Here are the four main reasons to have network security monitoring:
Improve Network Security
Securing critical business data from outsiders and insiders alike is a top concern for both enterprises and SMBs. And for good reason—the average cost of a data breach, according to IBM’s 2016 Ponemon Cost of Data Breach Study, is around $4 million. Hackers may target SMBs under the premise that they’re likely ill-equipped to handle a security breach. Unfortunately, this is true for many SMBs who feel they can’t justify the cost of an expensive intrusion detection system (IDS) and haven’t taken the appropriate defensive measures against cybercrime.
When an IDS isn’t feasible for your business, network monitoring software can be an affordable alternative. Network monitoring provides valuable insight into the source and nature of all traffic flowing across the network. By regularly monitoring traffic on critical devices, it’s easy to spot suspicious changes in inbound and outbound traffic. Having in-depth visibility into network activity helps you proactively identify malicious network activity and find holes to patch that could turn into larger security issues in the future.
Ensure customer uptime
If you have customers depending on your network for their business, you have to be sure they’re up and running at all times. Would you rather know that moment a problem occurs and fix it before your customer finds out, or get that angry phone call?
Above all, network monitoring helps you cut down on the total amount of downtime and time it takes to investigate problems. This translates to fewer man-hours and less money when problems occur.
Data Loss and Downtime
The greatest advantage to network monitoring is preventing data loss and downtime, which can cripple a small business. An outage can bring an entire small businesses’ operations to a complete halt and without the ability to conduct business, a company will be losing out on money. So much so that 60% of small businesses that experience a data breach are out of business within 6 months.
If data loss and downtime effect the consumer, your reputation for security and dependability will be hurt. If your small business customers are not satisfied with your ability to keep data safe and systems running, they will likely move on and you will lose out on money.
Network monitoring is one of those things many small businesses don’t worry about until they absolutely need it. Unfortunately, by that point, it is too late. Network monitoring will ensure that a network is running at its best and allow you to correct any issue before it threatens your entire operation.