- It is estimated that as a result of the COVID-19 pandemic, cybercrime, including theft, data hacking, and destruction, grew by 600%, forcing nearly every industry to embrace new cybersecurity solutions
- Cybercrime is projected to cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015. However, the hefty upfront cost associated with protecting businesses from these attacks is leaving most SMBs vulnerable
- SideChannel acknowledges this issue, and through its team of vCISOs and vCPOs, it is lowering the barrier of entry to access fundamental cybersecurity services, ultimately providing a robust yet affordable solution
- By doing so, the company is playing a pivotal role in improving cybersecurity attack readiness while making robust cybersecurity solutions more accessible and affordable, particularly to SMBs
SideChannel (OTCQB: SDCH), a company founded on the belief that all enterprises, big or small, can have top-tier security guidance at a manageable cost, recognizes the current cost-prohibitive issue with cybersecurity solutions, and seeks to address it by offering affordable and robust cybersecurity support. In addition, the company acknowledges cybersecurity as a growing concern, and the inability of small and mid-sized businesses (“SMBs”) to access associated services is an issue that needs to be addressed, lest many be put out of business.
It is estimated that due to the COVID-19 pandemic, cybercrime, including everything from theft to data hacking and destruction, grew by 600% (https://ibn.fm/CK27W). This has forced nearly every industry to embrace new solutions and adapt quickly to the changing cybersecurity environment. With cybercrime projected to cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015, businesses are being forced to identify new and more effective ways of protecting themselves and their data from attacks. However, this comes at a hefty upfront cost that most SMBs cannot afford, leaving them vulnerable to such attacks.
SideChannel acknowledges this issue, and through its team of expert virtual Chief Information Security Officers (“vCISOs”) and virtual Chief Privacy Officers (“vCPOs”), it is lowering the barrier of entry to access essential cybersecurity services. This approach ultimately provides a robust yet affordable solution targeted explicitly toward SMBs. It also helps elevate cybersecurity readiness among these businesses, thus lowering the likelihood of a successful attack and mitigating the damages should one occur.
A Cybersecurity Readiness Index released by Cisco (NASDAQ: CSCO) noted that a mere 15% of organizations globally have a “mature” level of readiness needed to be resilient against today’s modern cybersecurity risk. In addition, the report noted that more than half (55%) of companies globally fall under the “beginner” (8%) or “formative” (47%) stages, meaning that they perform grossly below average on cybersecurity readiness (https://ibn.fm/PIlya).
60% of respondents in the Cisco study noted that they had a cybersecurity incident in the last 12 months, with 41% of those affected citing losses of at least $500,000. The double-blind survey, which involved 6,700 private sector cybersecurity leaders across 27 markets, laid bare the prevalence of cybersecurity threats and attacks. In addition, it highlighted the cost implications of these threats while emphasizing the importance of preparedness and the right systems and infrastructure to protect one’s business against such threats.
SideChannel looks to provide access to expertise through experienced vCISOs, a dependable and consistent source of critical information and experience. By doing so, it enables enterprises, specifically SMBs, to understand the cyber environment, develop cybersecurity programs specific to their use cases and track those programs in a way that mitigates cyber risk and guarantees the smooth running of the business. Through these efforts, SideChannel is playing a pivotal role in improving cybersecurity attack readiness while making robust cybersecurity solutions more accessible and affordable, particularly to SMBs.
For more information, visit the company’s website at www.SideChannel.com.
NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH
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