Although billions are spent each year on security solutions to prevent ransomware, most companies are failing to prepare for ‘if and when’ an attack happens. Business continuity requires enterprises to go beyond prevention and prioritize a strategic recovery plan.
Amitabh Sinha, co-founder and CEO of Workspot, shares his insights on how ransomware attacks can impact the ability to conduct business and how cloud PCs are giving organizations a fast way to ensure business continuity:
"No one is immune to ransomware attacks - even high-profile organizations with massive security budgets have fallen victim. On average, a ransomware attack costs $4.5 million, but that doesn’t account for one of the most financially devastating consequences: complete loss of productivity.
Cybersecurity Awareness Month serves as a reminder that most business continuity plans have a major gap: the chances that you will be hit by a ransomware attack are increasing. On average it takes 1 month to investigate and remediate the damage, and companies can’t afford this much downtime if they want to stay competitive. For a 1000 person organization, average loss in productivity during a month of downtime can equal upwards of $10m. And this does not consider damage to your brand’s reputation.
What is your recovery plan to keep the business running while you negotiate and rid the organization of malware? New approaches include Cloud PCs, which are imaged and kept up-to-date and are on standby in an isolated environment, serving as a modern “insurance plan” for immediate productivity recovery. Within an hour of detecting the attack, employees can be back to being productive with their Cloud PCs, safely accessing the data and critical applications they need to keep the business running, continue to serve customers, and mitigate brand reputation damage. Cloud PCs are available for as little as $15 per user per month. Given the scope of the threat landscape today, the cost per user for implementing Cloud PCs for ransomware recovery pales in comparison to the financial risk of 30+ days of lost productivity."
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