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Small-Medium Businesses are one of the most vulnerable targets for cyber-attacks, accounting for 43% of cyber-attacks worldwide. Any incursion can lead to hackersdemanding ransoms in exchange for the data that is held hostage. Ransomware, one of the most common cyber-attacks,has devastating effects on businesses as reported in Cybereason’s June 2021
35% shelled out between US$350,000 and $1.4 million to pay off ransomware demands
66% reported a significant loss of revenue
53% indicated that their brand reputation was damaged
29% had to lay off employees due to financial pressures following a ransomware attack
26% were forced to close their business entirely or for some period of time
Transforming business model
while facing technological
risks in the dynamic environment.
Accelerating digitalization at
an unprecedented pace, with
increasing cyber-security risks.
Facing increased cyber-attacks as they may not invest enough resources as bigger companies.
Protecting your device using anti-viruses is insufficient against advanced cyber attacks.
The rate of cyber attacks has been raisen from the past year due to the covid digitalization. 40% of small business has experiencedaround 8 hours of downtime due to a cyber breach that costs $1.56 million losses on average and projectedthat the damage will increase to $6trillion by 2021.
Lack of awareness and budget limitations are the main reasons that small and medium sized businesses usually overlook the cybersecurity aspect. 58% of SMEs don’t think of cyber-attacks as a threat or may consider them as an EXTRA EXPENSE. The hackers are aware of the mindset of the SMEs and therefore, it becomes an easy target to breach the unprotected systems and hold data hostage for quick and convenient monetary gains.
Often the greatest threat to information security derives from the carelessness of employees. Front-line training and awareness programs can mitigate the risk, but small organizations find it difficult to implement hence, the businesses remain unprotected.
Employ the right talent and groom them is imperative for a business’s success that will also help in employee retention and satisfaction.
Hiring a specialist team – A team of specialists can utilize their expertise to maintain security but it will require a high budget on the payroll to bring value to the company.
Often the greatest threat to information security derives from within: The uninformed employee. Training and awareness is critical to mitigate the risk, but oftentimes, organizations find it difficult to implement these essential front-line training and awareness programs and the business is left unprotected.
Putting in the correct structure and solution is crucial to how an organization function and grow in the long run. Having the right structure and budget is needed for a successful growth.
Hiring the right talent and grooming them to become successful leaders is not only imperative for business success but it also helps to retain employee retention and satisfaction.
An experience skilled talent means that you are hiring them for the value that they bring to the company. Which in return of their value means a high budget on the payroll.
Adopting New Solution
X-PHY® Cyber Secure SSD; protecting your business from inside out.
Adopt the most recent technology and source talent for Small-Medium Businesses and Enterprises with X-PHY® AI Embedded Cyber Secure SSD.The integrated AI attribute blocks the gateway for cyber threats and ensures firmware protection whereas hardware sensorsdetect glitches from the data access patterns.
X-PHY has been recognized on many platforms for its great potential as a cyber security solution. It’s the World’s first AI-embedded Cyber Secure SSD.
I would like to commend Flexxon for their innovation, which I see as a breakthrough that embeds artificial intelligence into the firmware level of the SSD, thereby helping to increase security and safety for end-users. We encourage companies like Flexxon to take part in the national ecosystem to enhance our local research and development efforts in AI, make use of the funding and support provided by the government, and find real-life applications for your innovations.
Singapore’s Minister for Foreign Affairs and then Minister-in-Charge of Singapore’s Smart Nation Initiative, at the X-PHY’s official launch in April 2021
Leveraging on CSA’s Cybersecurity Call for Innovation, Flexxon developed the world’s first Solid-State Drive (or SSD) containing embedded Artificial Intelligence for anomaly detection at the firmware level. Flexxon’s SSD is effective against cybersecurity threats that bypass software controls, and has received strong interest from several multinational tech companies.
Singapore’s Minister for Communications and Information, speaking at the Cybersecurity Awards 2020 Ceremony in February 2021
Cyber Security Agency (CSA) Singapore’s 2019 Cybersecurity Industry Call for Innovation Award
17 in process
4 patents granted inseveral countries
Don’t be the next victim. Adopt X-PHY to ensure data security