The ever-evolving landscape of cyber threats poses a continuous challenge for businesses of all sizes. From cloud breaches and malware to social engineering and phishing attacks, the risks are endless. In fact, in 2023, the global average cost of a data breach was $4.45 million, and it’s still climbing. With such a dynamic threat landscape, it’s important for organizations across sectors to safeguard against threats and react immediately in the event of an attack. 

Medium-sized companies are especially vulnerable to cybercrime. Firms often have limited budgets, lack of knowledge of vulnerabilities and crisis response, and few to no dedicated IT/security staff. Yet, they have significant assets for bad actors to target. As a result, mid-market companies are often overburdened with security costs associated with multiple, sometimes redundant solutions. This leaves them vulnerable due to a lack of adequate resources, and often out of compliance with mandated policies.  

How MXDR can Help Maintain Cyber Resilience 

Fortunately, not all hope is lost! Managed Extended Detection and Response (MXDR) empowers medium sized businesses to prevent, detect, and respond to threats across their organization, including user identities, endpoints, applications, IoT/OT infrastructures, and on-premises and cloud infrastructures. MXDR combines people, technologies and response services to save, maximize security, and minimize costs.  

Here's a more detailed look at how MXDR can help mid-market businesses harness cutting-edge technology to bolster their cyber resilience. 

Manage Diverse Risks 

Cybercrime is on the rise, and no company is immune. Mid-market businesses face similar cyber threats to enterprise companies, but have fewer resources to combat them. Cloud and network breaches, social engineering, advanced persistent threats, and malware expose businesses to significant risk for financial, reputational, and even legal damage. Notably, Q3 of 2023 marked a record high for successful ransomware attacks. And, 82% of ransomware attacks targeted small to medium-sized businesses.  

MXDR steps in by providing 24/7 support to safeguard organizations from adversaries. Through optimization for a variety of applications and managing people, processes, and tools, MXDR safeguards organizations and rapidly stops attacks in the event of a breach.  

Adapt to Evolving Threats and Technologies 

The fast-paced advances in technology of the past few years have created myriad exciting opportunities, for both tech enthusiasts and cyber criminals. The proliferation of AI has revolutionized the cyberattack landscape, making it more accessible than ever for malicious actors, regardless of their resources and expertise. To counter this, MXDR is backed by extensive, continuous research into emerging technologies, threats, and vulnerabilities to best safeguard systems at all times. 82% of ransomware attacks

Ensure Compliance with Regulations 

Regulators are enacting stringent policies governing privacy, data protection, and overall security. Non-compliance can lead to hefty fines, legal repercussions, and reputational harm, at worst, organizations face significant vulnerabilities and catastrophic attacks. 

MXDR providers ease this burden staying current with sector-specific regulations. Whether an organization is governed by PCI, HIPAA, GDPR, or other laws, they help to navigate the intricacies of compliance and can devise tailored solutions. 

Save Time and Money 

IT teams at medium-sized businesses are already stretched thin. The addition of managing evolving security threats, new tools, and ongoing maintenance, can create overwhelming workloads, leading to exhausted employees and mistakes that result in critical vulnerabilities. 

A cornerstone of MXDR is a dedicated team that steers your security strategy, hunts for threats, and leverages human expertise alongside AI capabilities to maximize protection while eliminating redundancies. That way, in-house teams can focus on core tasks that truly matter.   

Maintain Active Protection with MXDR 

Cobbling together the right set of tools, people, and processes to ensure round-the-clock threat protection is a daunting task. That’s why BDO Digital developed Active Protect, a fully integrated, cloud native MXDR solution that provides continuous protection, detection, and response. With a seasoned team of security specialists, Active Protect identifies risk, initiates counter-measures, reduces downtime, and manages security responses to protect companies’ most vital assets in the present and future.