A Data Breach Now Comes With An Average Price Of $4.88 Million – What Would The Financial Impact Be For Your Company?

You don't need to be a large company to fall victim to a significant cyberattack. In reality, small businesses are increasingly becoming prime targets for hackers. Why? Because they're typically more vulnerable and more inclined to pay the ransom.

While a Fortune 500 company might have the resources to absorb the financial blow of a breach, most small businesses can’t afford such a setback.

IBM's Cost of a Data Breach Report 2024 reveals that the average cost of a data breach is $4.88 million. This encompasses everything from system downtime and lost clients to legal expenses, ransom demands, and the damage to your reputation.

Pretty alarming, isn’t it?

The good news? There’s a new solution that’s helping businesses like yours detect cyberattacks before they can cause harm, and it’s revolutionizing the way companies protect themselves.

A Smarter Approach To Protection

This tool is known as endpoint detection and response (EDR). Don’t worry about remembering the technical name – just understand what it does.

It works like a virtual security guard, constantly monitoring and protecting your systems around the clock.

Unlike traditional antivirus programs that only target known threats, EDR continuously monitors all activity on your devices – from logins to file modifications and unusual actions. If anything suspicious occurs, such as ransomware spreading or an unfamiliar login attempt, EDR jumps into action, preventing the attack before it causes harm.

Why This Is More Critical Than Ever

Cybercriminals have stepped up their game. They’re not relying on outdated methods anymore. Instead, they’re becoming more sophisticated, quicker, and stealthier. Rather than trying to force their way in, they use stolen credentials to log in, mask malware as normal files, and patiently wait for one small error from an employee to exploit.

EDR prevents those threats in their tracks, stopping them before they can bring down your business.

More Than Just Smart – It’s Often Necessary

Here’s something that many business owners might not realize: Cyber insurance companies are increasingly requiring businesses to have tools like EDR in place. Without it, your policy might not pay out in the event of a breach. Think of it like trying to claim fire damage without ever installing a smoke alarm — you’re not fully protected, and your coverage could be denied.

Is Your Company Really Secure?

If you’re unsure where your business stands, let’s have a conversation. We’ll break down exactly what protections you need — and what you don’t — to help ensure your business isn’t left exposed.

When the stakes are this high, it’s smarter to be proactive than to deal with costly consequences later.

Want to know if your business could weather a $4.88 million breach? Let’s not leave it to chance. Book a free discovery call with our team. We’ll assess your current cybersecurity setup, pinpoint any vulnerabilities, and give you straightforward, jargon-free guidance on how to strengthen your defenses — no pressure, just honest insight.