Benefits of EDR:
- Early Detection and Prevention of Cyber Attacks
EDR software can detect and prevent cyberattacks before they happen. This not only reduces the risk of data breaches and financial loss but also improves customer trust and confidence. - Automation of Security Management
EDR software automates the process of identifying and responding to cyber threats, freeing up time and resources for small businesses. This allows small businesses to focus on their core operations while still ensuring their cybersecurity is up to date.
- Improved Incident Response Time
With automated detection and response, small businesses can quickly contain and mitigate cyber threats, minimizing the impact on their operations. This can also help small businesses avoid costly downtime and loss of productivity.
Downfall of Not Investing in EDR:
- Financial Loss
The cost of recovering from a data breach or cyberattack can be significant. Medium-sized businesses are losing $184k per cyber security incident.
- Loss of Customer Trust and Reputation
A data breach or cyberattack can damage a small business's reputation and lead to a loss of customer trust. According to a survey by Kaspersky, 27% of small businesses reported that a security breach led to a loss of customer trust.
- Legal and Regulatory Consequences
Many states have data breach notification laws that require businesses to notify customers in the event of a breach. Additionally, industries such as healthcare and finance are subject to specific regulations regarding data protection and cybersecurity.