Ransomware is a type of virus attack on your computer system, which locks the files inside your system and demands payment in order to unlock them. This is a costly virus to have attack your company and is one to deter as much as possible.
However, according to a recent study conducted by cloud IT services company, Intermedia, the report showed that it’s actually the company downtime that hurts an organisation more than the ransom fees.
The report states that 72 percent of companies that are hit with ransomware suffer costly downtime of two days, while 32 percent are down for five days or more. These results are devastating to companies, reducing customer satisfaction, lost sales and a lot of stress for employees.
It appears that you are particularly at risk if you are a company that has more than 100 employees; almost 60 percent of businesses with this many people are targeted by ransomware. Another trend to notice from this report is the fact that ransomware is a growing industry.
Walter Chamblee, Director of Information Technology at Signaturefd.com said “Ransomware attacks are on the rise and are growing in complexity.” Although that can be said about many viruses, fewer cause more downtime than the kind that demands a ransom. Imagine the damage that could be done to your company if you couldn’t access for your files for five days or more.
Chamblee continues “Without the right protection measures in place, ransomware can be majorly disruptive to a business. In these cases, it’s the user downtime and the hassle for IT that’s far costlier, even if you pay the ransom.”
At SCS Technology, we provide IT support to help keep your business protected, should the worst happen. It may also be worth reading our previous tips about how to keep your system safe and what not to click on!
For anymore information please contact us on 0800 9520652.