19 February 2021 (MY) – While vulnerabilities are inevitable in any software, regular patching and updates can minimize the risk of exploitation. That’s why users are always advised to install the latest software versions as soon as they are available, even if these updates can sometimes be difficult or a time-consuming task for organizations. However, a fresh study from Kaspersky revealed more than half (54%) of organisations in Southeast Asia (SEA) have work to do regarding this crucial task.
The recent Kaspersky report, ‘How businesses can minimize the cost of a data breach’ showed that 38% of SMBs (small and medium businesses) and a whopping 48% of enterprises from SEA are still working with unpatched operation systems. In addition, 33% of SMBs and 43% of enterprises from the region are still guilty of using out-of-date software.
“It may seem costly for companies to renew their software or opt for their legal versions especially at this time of an unprecedented crisis. It is, however, an investment which can save you money in the long-run. In fact, our research showed that enterprises using obsolete or unpatched systems will pay $437k more in case of a data breach, a 126% increase compared with the projected cost of $354K for those companies without such outdated technologies,” says Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.
SMBs in SEA can also save 9% of the attack costs if they use updated and legal software, with $94k being the toll of a single data breach against a small-to-medium-sized organisation with obsolete operating systems.
Aside from the additional cost in case of a data breach, almost half (49%) of both SMBs and enterprises from the region also admitted to experiencing cyberattacks because of unpatched vulnerabilities in the software applications and devices they use. This is nine percent more than the global average of 40%.
The top reasons why organisations in SEA remain guilty of using such tools are:
- Some line employees refuse to work with new software and devices, so we made an exception for them (57%)
- We have in-house apps that cannot run on new devices or operating systems (52%)
- They belong to C-level staff and we exclude them from our update plan (45%)
- We don’t have enough resources to update everything at once (17%)
Understanding the current cash flow dilemma of companies in SEA, Kaspersky offers savings for its latest Kaspersky Endpoint Detection and Response Optimum (KEDRO) solution for new and existing customers valid on 10-999 nodes across the region until March 31, 2021.
For KEDRO new and add-on:
- 1 Year License – 33% savings
- 3-Year License – 40% savings
Interested SMB owners can find out more about this promo here: https://go.kaspersky.com/Kaspersky_EDRO_SEA_Promotion.html.
In order to save money and minimize the risk of data breaches as a result of software vulnerabilities, Kaspersky suggests the following measures:
- It is important to boost security awareness and practical cybersecurity skills for IT managers, as they are at the frontline of IT infrastructure updates. A dedicated Security for IT Online training course can help.
Kaspersky’s report, ‘How businesses can minimize the cost of a data breach’, is the second part of the IT Security Economics 2020 series and is available here. To read the first part, ‘Investment adjustment: aligning IT budgets with changing security priorities’, please download it from the Kaspersky IT Security Calculator web page.