Cyber Security

Business leaders shouldn't compromise Cyber Security in the wake of economic uncertainty

10th October 2022
Sheryl Miles

As the UK's economy braces itself for more uncertainty and turmoil following the Government's failed mini-budget and with the UK reportedly on the brink of a recession, Synapse360, a provider of managed cloud services, are urging business leaders to keep cyber security at the top of their agenda when reviewing budgets.

The recent currency fluctuations have left UK business leaders casting a wary eye on the impacts that the changes will have on the UK economy in the short and long term, with many businesses looking at ways in which they can tighten their belts.

“Cyber security is one capital project that business owners cannot afford to leave to one side” warns, Phil Baker, Head of Commercial Finance, Synapse360. “Organisations are increasingly exposed; staff are continuing to work from home, the volume of threats on a network are increasing, business continuity plans are sitting untouched and untested, and software is often subject to poor patching policies or left to go out-of-support. Businesses in both private and public sectors all over the globe need to be protected against cyber criminals looking for opportunities to exploit businesses.”

Cyber-attacks can have devastating consequences for businesses, an attack doesn't just leave companies infrastructure vulnerable, but it can have costly repercussions, affecting not only a business financially, but reputationally too. With an estimated 10,000 attempted or successful cyber-attacks every day, the risk to businesses is extremely high, an issue that business leaders should have at the top of their risk management agenda.

“Cyber criminals are becoming more and more sophisticated with their attacks and having lines of defence in place should the worst happen is of vital importance. In the past month we have seen a range of companies being targeted by cyber criminals such as Uber, Rockstar Games and even social media giant TikTok being targeted which has had serious impacts on the respective businesses.” Continues Baker.

“The decline in Sterling and the uncertainty around the future economic plans of the country is undoubtedly causing huge concern. The first thing that businesses often relinquish at times of economic uncertainty are significant capital projects. However, these projects are often vital for long-term efficiency and economic growth, by delaying such projects to achieve short-term aims this often has an adverse impact on businesses and can leave businesses vulnerable.”

“We want our customers to have their cake and eat it; have the infrastructure refresh that protects their business, whilst not having that initial capital outlay that may put pressure on the company purse strings.”

“Business leaders must act fast and commit to their long-term strategy; locking in plans now can secure a fixed-cost subscription, which gives the financial and operation certainty that will be vital to guiding businesses in all industries through these uncertain times, whilst ensuring their safety against potential other threats in the digital world.” States Baker.

As a Dell Platinum Partner, Synapse360 has a range of managed cyber security plans that can guarantee predictable cashflows for their customers, even in a delicate and ever-changing markets by delivering capital intensive projects for no upfront cost, locking in fixing monthly or quarterly subscription costs allowing customer to pay over 3 to 5 years.

“Here at Synapse360 we are determined to help businesses thrive and ensure that they do not succumb to easily preventable threats. Our contract plans and commercial models not only offer customers the flexibility, without compromising one of the biggest business risks that the modern world is facing. But we also provide a quality, responsive service which makes us the UK's leading data protection provider.”

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