Although 2020 has come and gone, business leaders are still coping with the effects of the COVID-19 pandemic, which has significantly transformed the business environment. Organizations of every size had to find and adopt technology that enabled remote working and implement solutions that made it more secure.
Numerous companies were not prepared for the sudden change to remote working and coping with the related cybersecurity challenges. As a result, the probability of data breaches has increased. This situation has given cybercriminals new venues for compromising sensitive data and disrupting the crucial operations of businesses. A study discovered that ransomware attacks have grown 50% since the first two quarters of 2020.
Businesses have not been passive. They are spending increasingly more on cybersecurity. A poll found that small businesses spent 26% of their IT budgets on cybersecurity in 2020, compared to 19% in 2019. Larger companies now spend 29%, compared to 26% in 2019. It is clear organizations have grasped how crucial it is to bolster their cybersecurity to protect perhaps their most precious asset – business data.
A handful of IT trends that grew in prominence due to the pandemic are likely to continue influencing the cybersecurity environment for the next few years. It would be wise to give these trends consideration prior to selecting backup and recovery solutions for the protection of your company’s data.
Today’s businesses are increasingly reliant on cloud storage for backing up their data because this model is both flexible and cost effective. IT leaders discovered the benefits of storing their business data on several cloud services.
A study found that two-thirds of larger companies and almost half of small businesses utilize several public cloud services. Aside from offering increased availability, multi-cloud backups provide crucial data redundancy, preventing single point of failures and decreasing the number of business disruptions.
As the multi-cloud backup model grows in implementation, companies should seek a scalable backup solution that meets their data protection requirements while using public, private, and hybrid clouds.
Part 2 will discuss Disaster Recovery as a Service and Ransomware Protection.
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