Does Risk Analysis Work for SMBs?

Let’s not beat around the bush. The answer is yes. So if all you wanted was the answer, you can return to your feed scrolling. If you are curious about why Risk Assessment is such a good fit for helping SMBs develop a cybersecurity strategy that actually fits their needs, read on.

If you’re still not sure your organization needs to invest in cybersecurity, you should read post one in this series on the cost of being unprepared for SMBs. Wondering if Canadian SMBs are really at risk? The latest figures released by Stats Can say so.

Top 3 Reasons for SMBs to Choose the Risk Assessment Model

Now that we’ve got that out of the way. Why is Risk Assessment the most effective framework for bootstrapping an SMB cybersecurity strategy? Here are our top three:

1. You need protection ASAP. In fact, you needed it yesterday, last week, last year. The Risk Assessment model lets you fast-track the development of a strategy and the deployment of countermeasures against your most serious threats.
   
2. You have limited budgets - Risk Assessment lets you evaluate where the real risk is in your network and prioritize your resources to those areas - without spending hundreds of hours in a never-ending cycle of consultant meetings.
   
3. You need an understanding of your overall risk map. Risk Assessment gives you a picture of not only your most critical vulnerabilities it also gives you the data to develop a long-term, evolving strategy to eventually achieve security maturity and build a defense in depth.

The Downside of the Risk Analysis Strategy

If the Risk Assessment has one downside, it’s that it will most definitely uncover weaknesses, challenge preconceptions, and force your organization to have a serious conversation about current SOPs and changes required. Before your risk assessment, your risks were a little like Schrödinger’s cat, both serious and yet undefined, therefore not imminent. Your Risk Assessment will be your calling card to speak with senior management about the investments that need to be made. Sometimes those discussions can be complex and challenging. But with your Risk Assessment in hand, you will have hard data to back up what may previously have been only unquantifiable concerns.

Need Help? StreamScan is Here.

Whether you need help conducting a risk assessment, developing a security plan, or implementing a Managed Detection and Response solution, StreamScan has experts with years of experience in the manufacturing sector who can help. Get in touch with us at smbsecurity@streamscan.ai or call us at 1 877-208-9040.