According to the World Economic forum, in April 2018, the island of St. Maarten had a complete public shutdown due to a cyber attack and the city of Atlanta in the previous month was hit with a ransomware attack for 2 weeks that had a price tag of 3 million dollars.
It does not take a seasoned financial guru to understand the money lost in the St. Maarten scenario as this island runs on tourist dollars and 3 million for a security breach is not pocket change.
The million dollar question is could these events have been prevented?
The Practice of Prevention
Being proactive and investing money in prevention is just not the American way in most case scenarios. Look at our healthcare system alone. Prevention is just not main stream and we work long days, eat big macs, and drink wine to cope with our long days. Then we pay the ultimate price of a disorder or pathology which can bankrupt the most frugal.
This same hypothetical scenario can be compared to prevention with most things to include network monitoring. Getting cancer or a major illness bankrupts most Americans and then they can never be covered by health insurance again.
According to recent statistics, the average monthly cost for treatment of cancer is now $10,000 and can be as high as 60,000. It is a financial disaster just waiting to happen but we simply think it will never happen to us.
Running a company without the tools to monitor a network proactively to detect and log anomalies is a cancer waiting to happen and ultimately a financial disaster. First, the malware will slowly drain your performance and reliability like a virus all the while mutating til it kills and empties the hosts bank account.
Around the Clock Monitoring
The ability to monitor the network around the clock is worth its weight in gold and for management it is probably better than Ambien for a good night’s rest.
With globalization increasing every day, cyberattacks are coming from all parts of the world and in all time zones. The ability to get updates or alerts of any anomalies or interruptions in real time is key to a healthy network.
Getting the data real time is very important but what a company does with this data is what saves money. When logging this data, it creates patterns and has the ability to understand problems before they are catastrophic.
As well as, it optimizes performance and fixing the smaller bugs also decreases activities that will bottleneck resources and performance that ultimately can hurt the bottom line. This logged data can be saved to a cloud to understand and have access to in the case of a system recovery.
Having network monitoring software and the ability to understand what was happening in the past is crucial to starting over upon worse case scenarios. There always needs to be a plan for system recovery in place for any company.
Collaboration Scalability and Workflow
Medium to bigger sized companies are more than likely going to have Security and Network teams working independently from each other and communication needs to be simple and fluent.
Having a common software in place with everyone being on the same page will allow for teams to understand their roles in Security and also define the parameters, and receive updates collectively. This allows for not only smoother workflow but also frees up manual or hourly labor to work on other projects to maximize growth in the company.
Additionally, to be able to interpret growth and Network performance needs will allow the company to easily predict monetary responsibilities as the company evolves and becomes bigger.
The Bottom Line
Network Monitoring is an essential tool to gather and analyze network statistics to allow for prevention, work flow, and ultimately aiding in scaling your company to work at the most optimal levels for financial growth.