Enterprises currently spend 18% of their total IT budget on security. However, an efficient cyber security strategy, though costly, pays off in the long run. According to a recent study, on an average, a single cyber security incident now costs about $86,500-$861,000, which is a huge amount.
Around 23% of IT and cyber security professionals say their I AM infrastructure was actually built for user convenience and not for ensuring data security. As enterprises leverage cloud services and mobile apps to increase productivity and lower costs, managing user identities and access to IT resources has become an absolute necessity. SMIPL can help you create a holistic solution including multi-factor authentication, consolidated identity repositories, on-premise and cloud Identity and Access Management.
On average, security breaches cost around $4 million per incident, up by 29% since 2013. Over the last few years, companies in every industry sector around the globe have seen their sensitive internal data lost, stolen or leaked to the outside world. High-profile data loss incidents have cost organizations millions of dollars and have resulted in tremendous damage to brands and reputations.
Around 60% of companies that lose their data are expected to shut down within 6 months. Most organizations fail to understand the importance of data disaster recovery. Physical Security often overlooked, it has emerged as a serious threat to business operations and needs a carefully thought through and implemented strategy.