4 Signs Your SMB Needs Cyber Advisory

In today’s world of rapidly advancing technology, cyber advisory is the last thing your SMB wants to think about. But in reality, that’s not ideal.

Many small and mid-size businesses don’t have systems in place if their business is under a cyber attack. In fact, one of our previous blog posts addresses this issue. Nearly 82 percent of SMBs don’t have a plan in the event of a cyber attack. As a result, up to 60 percent of SMBs go out of business within six months of an attack.

Cyber advisory is one of the best defenses your business can have, but is it right for your SMB? Here are some signs that it might be right for you from Neal O’Farrell, Managing Director of Cyber Advisory at IT Ally™.

Difficulty Communicating Risks

At times, it can be difficult for business leaders to communicate well in their organization, whether it’s to their employees or board members. For an IT leader, that can be especially true. Not everyone at the organization understands what their IT leader does, so when they try to communicate the need for more security, it may be hard for them to get that across to other colleagues. This can be especially hard if any technical problems your IT leader gets blamed for your SMB’s IT issues. If cybersecurity isn’t part of their priorities, they won’t bring it up.

This is where cyber advisory is important because advisors know how to communicate these issues, especially to boards who need to hear it the most. They can also bring forth the discussion if it hasn’t been brought up. Advisors will be more open and honest about issues and concerns since they aren’t part of the organization either.

C-Suite Lacks CSIO

If you’re an SMB, you likely don’t have a CSIO, which leads to cybersecurity not getting the attention it needs. Similar to the last sign, your management team may not have the right questions or insight to take on cybersecurity.

If you don’t need someone full-time, but you want someone who can give you the best IT and cybersecurity guidance possible, cyber advisory is the ideal solution.

No Contingency Plan

There’s a saying that “a goal without a plan is just a wish” and that holds true for contingency plans. When you see the statistics, it’s better to have a plan than no plan at all. Of course, you hope your SMB will never have to use it, but if it were to happen, it could not only save your business but also save your business money as you manage the ramifications.

Numerous studies show that response plans that are thought out and executed well can save an organization a lot of money when the inevitable happens. Cyber advisory services can be a great resource as your organization develops a plan. Advisors not only have the latest knowledge, but also the outside perspective. This allows them to help you create a plan that fits the needs of your organization.

Low Priority for Board

Some boards just don’t care when it comes to cybersecurity. They either think that an attack will never happen to them. Or, they expect a cyber attack to happen, but don’t have a plan and are willing to deal with the financial deficit that goes with it.

If your SMB brings in cyber advisory services, they can change the conversation in a language they understand. Advisors can push through cybersecurity roadblocks, help the board navigate security and privacy regulations, aid in decisions and bring a fresh, outside perspective on the organization. Boards not only find it helpful, but refreshing.

If these signs ring true for your SMB, IT Ally may be able to help. With over 30 years of experience and perspective, our cyber advisors can provide the best knowledge and insight for your organization. Get to know us today by contacting us or by signing up for a free consultation.

This blog is based on an IT Ally Podcast featuring Neal O’Farrell, Managing Director of Cyber Advisory at IT Ally. Listen to it here.