As Cynet’s COO (chief operating officer), my team and I get to work closely with risk management executives at small-to-medium enterprises (SMEs) around the world. In this piece, I’ll distill insights from our collaboration into three salient trends for 2024, supported by stats and studies from across the cybersecurity practice.
These emerging patterns pertain to organizations of all shapes and sizes — but, make no mistake, the greatest effects will be felt by SMEs where lean security teams with shoestring budgets are the norm. For companies with 1,000–5,000 employees, the average cost of a data breach reached $4.87 million in 2023 — a year-over-year increase of nearly 20%, according to IBM.
I highly encourage business leaders to leverage resources like the 2024 Cybersecurity Planning Checklist for a holistic understanding of the security technologies, services and initiatives needed to manage risk in the year ahead. You can also watch an on-demand webinar as we connect our findings to actionable advice you can implement to protect your organization’s most critical operations and valuable assets.
