What is the Real Cost of Ransomware?

What is the Real Cost of Ransomware?

Ransomware attacks are becoming increasingly common, and small businesses are at risk of being targeted. According to a recent report, nearly 50% of small businesses experienced a ransomware attack in 2020, and the number is expected to increase in the coming years. In addition to the potential financial loss, ransomware attacks can also lead to data loss and downtime, which can be devastating for small businesses.

One of the best ways to mitigate the risk of ransomware attacks is to use offsite cloud backups. Offsite cloud backups provide a secure and reliable way to store your data, which can be easily restored in case of an attack. Here are some reasons why small business owners should consider using offsite cloud backups:

  1. Protect your data from ransomware attacks:

Offsite cloud backups provide an extra layer of protection against ransomware attacks. Even if your system is infected, your data can be easily restored from the cloud backup, minimizing the impact of the attack. This can help you avoid paying the ransom and losing valuable data.

  1. Reduce downtime:

Ransomware attacks can cause significant downtime, which can be costly for small businesses. According to a recent report, the average downtime per ransomware incident is 16.2 days. This can result in lost revenue, decreased productivity, and damage to your reputation. With offsite cloud backups, you can restore your data quickly, minimizing the downtime and getting your business back up and running as soon as possible.

  1. Lower the cost of data recovery:

The cost of data recovery after a ransomware attack can be significant. According to a recent report, the average cost of data recovery after a ransomware incident is $1.85 million. This can be devastating for small businesses, which may not have the financial resources to cover such costs. Offsite cloud backups provide an affordable way to recover your data, reducing the financial impact of a ransomware attack.

Offsite cloud backups are an essential tool for small business owners to mitigate the risk of ransomware attacks. By protecting your data from ransomware attacks, reducing downtime, and lowering the cost of data recovery, offsite cloud backups can help you maintain the continuity of your business and protect your bottom line. If you’re interested in learning more about offsite cloud backups, contact us today to learn more about our managed services offerings.

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