When it comes to ransomware, there are a lot of potential expenses that companies may face. Many of them, though, are unaware of these hidden costs until it’s too late. Below are outlined seven unexpected costs of ransomware.
1. The Cost of Data Recovery
If your business gets hit with ransomware, the first thing you’ll likely want to do is recover your data. The cost of data recovery, however, can be significant. Depending on the severity of the attack and the amount of data that needs to be recovered, the price tag can range from a few hundred dollars to tens of thousands of dollars.
2. The Cost of Lost Productivity
Ransomware can also cause a significant loss of productivity. When your computer system is locked down by ransomware, employees can’t get their work done. This can lead to a loss in productivity that can amount to incredibly high costs every day that your systems are down.
3. The Cost of Downtime
In addition to the cost of lost productivity, ransomware can also lead to downtime. If your systems are infected with ransomware, you’ll likely need to shut them down until they can be cleaned and secured. This can lead to a loss of business that can amount to extremely high costs, and even a loss of reputation with your clients.
4. The Cost of Training
If your business is hit with a ransomware attack, it may be helpful, or even essential, to spend money on training employees on how to avoid future attacks. This can be a costly endeavor, especially if you have a large workforce. However, training on phishing, ransomware, antivirus protection, and other protective measures can save you money in the long run.
5. The Cost of New Software
In the case of a ransomware infiltration at your business, you may need to invest in new software to protect your systems from future attacks. This can be a costly endeavor, especially if the software is proprietary.
6. The Cost of Increased Security
Ransomware can also lead to an increase in security spending. In the case of ransomware attacks, you’ll likely need to invest in new security measures to protect your systems from future attacks. New security measures can be costly, depending on how updated your current security systems are.
7. The Cost of Lost Customers
Finally, ransomware can also lead to the loss of customers. If your business is hit with ransomware, you may lose customers who are unwilling to do business with a company that can’t keep their data safe. This can be a huge hit to your business budget, especially if the lost customers are high-value clients.
If you are looking to better protect your business from the potential costs of ransomware attacks, look no further than the expert IT professionals at JNT Tek. Our team can help you implement the right security measures to keep your systems safe from harm. Contact us today or visit our website to get started!