4 Cyber Threat Assessment: What Is It and How Could Delaying It Put Your Business at Risk?

Professional it specialist reducing cyber threats working in server room

A business’s cybersecurity protection is only as good as its weakest point—and that’s why regular assessments of your protocol are critical. Technology and the threats that face it are constantly evolving, and organizations need to be prepared.

In this article, we’ll explore what a cyber threat assessment is and why you should conduct one regularly within your organization. We will also look at the consequences of delaying your assessment and how you can mitigate those risks.

What Is a Cyber Threat Assessment?

A cyber threat assessment is an analysis of an organization’s vulnerability to cyber attacks. It includes an evaluation of the likelihood and potential impact of known and unknown threats, as well as the organization’s ability to defend against them.

These assessments help organizations fortify any weaknesses in their cybersecurity to be better prepared for cyberattacks.

Why Should My Company Have a Threat Assessment Set Up for Cybersecurity?

Organizations of all sizes are increasingly at risk of cyber attacks. In 2021, around 45% of companies experienced a data breach. And the costs of these breaches can be staggering: the average total cost of a data breach for 2022 increased to $4.35 million.

Despite these risks, many companies are hesitant to conduct a threat assessment. Some may believe that their organization is too small to be a target or that they don’t have anything worth stealing. Others may think that their existing security measures are adequate or that conducting an assessment is too expensive. Most may have tight IT budget restraints.

But the truth is, cyber threats can impact any organization, no matter its size or industry. Every year cyber attackers target SMBs. In 2021, data breaches rose to an average of 31,000 alone. In 2022, this rising trend concludes that SMBs could face breaches anywhere from 56,000 to 86,000.

With the rise in remote workers, IT leaders state that 78% of remote workers are harder to secure. Finding ways to keep your employees and business safe from a cyber threat is crucial to avoid the consequences of a breach.

Conducting this type of assessment can help you understand your organization’s risks and vulnerabilities, as well as the potential impact of a breach. This knowledge can help you make informed decisions about how to best protect your data and systems.

How a Cyber Assessment Helps Your Company Strengthen its Cybersecurity Infrastructure 

When most people think of a cybersecurity threat assessment, they envision a team of security experts scouring an organization’s networks for vulnerabilities. While this is one part of the process, it’s only the beginning.

A comprehensive assessment includes:

  • Evaluating your organization’s current cybersecurity posture
  • Identifying gaps in your defenses
  • Recommending steps to improve your cybersecurity infrastructure
  • Providing guidance on how to best respond to cyber threats

In other words, an assessment of this kind is not just a one-time exercise. It’s an ongoing process that should be integrated into your organization’s overall security strategy.

Conducting a cyber threat assessment can help you build a more robust and effective cybersecurity infrastructure. By identifying weaknesses in your current defenses, you can make targeted improvements that better protect your data and systems against known and unknown threats.

What’s more, a cyber threat assessment can help you establish best practices for responding to cyber attacks. By outlining the steps you need to take in the event of a breach, you can help ensure that your organization is better prepared to handle a real-world attack.

The Bottom Line: Don’t Wait to Conduct a Cybersecurity Assessment

Delaying your assessment is putting your organization at risk. A cybersecurity assessment helps you understand your organization’s vulnerabilities and the potential impact of a breach. It can also help you build a more robust and effective cybersecurity infrastructure.

Perform a Cyber Threat Risk Assessment with Fresh Managed IT

A cybersecurity threat assessment could be the difference between weathering a cyber attack or succumbing to one. At Fresh Managed IT, we can help you conduct a comprehensive network threat assessment and develop a customized cybersecurity solution for your business. Contact us today to schedule a free consultation.