You’re running a small or medium-sized business, and you’ve finally found that shiny new piece of hardware or app which promises to solve all your business headaches.
You’re excited. Your team is excited. Everyone’s ready to dive in – full steam ahead! But hold on a second; have you thought about doing a risk assessment first?
Now, before your eyes glaze over at the term “risk assessment,” hear me out – it’s less about bureaucracy and more about protecting your business and your wallet.
The Real Reason SMEs Need Risk Assessments
- Protect Your Reputation: Imagine launching that shiny new system only to find out a month later that it leaked customer data. A quick upfront risk assessment of the product you are purchasing from can prevent brand-damaging disasters. Just because they may be a large company, doesn’t mean they care about looking after your information.
- Save Money: Did you know SMEs who suffer cyber incidents often face costs upwards of tens of thousands of dollars? Sadly, around 60% of SME’s that suffer a cyber-attack shut up shop within 6 months of the attack. A risk assessment can help you avoid these hidden financial pitfalls.
- Peace of Mind: Sleep better at night knowing you’ve proactively managed potential threats instead of reacting to crises.
So, What Does a Risk Assessment Actually Do?
Simply put, it helps you:
- Spot Issues Early
It can identify vulnerabilities in new hardware or software before they become big problems. This could be anything from weak security to compatibility issues. - Understand Your Risks Clearly
It helps you weigh up what’s critical to your business—like customer data, financial information, and daily operations—and how new technology might impact these areas. - Prepare for the Unexpected
Cyber risk assessments don’t just tell you what might go wrong—they help you develop a plan for managing or avoiding those risks entirely.
Cyber Risk Assessment = Smart Investment
Here’s something SMEs sometimes overlook: a small upfront effort can save huge headaches later. Consider it like a “health check” before a marathon—you wouldn’t start a major event without knowing your heart’s in good shape, right?
Doing a risk assessment isn’t about saying “no” to innovation; it’s about confidently saying “yes” with your eyes wide open.
Takeaway for SMEs
The takeaway is simple: adding new technology should always be exciting—not scary. A quick and straightforward risk assessment ensures that excitement stays front and centre, backed by confidence that your choice is secure, suitable, and smart.
Next time you’re considering a tech upgrade, remember spending a bit of time now means fewer headaches and better nights’ sleep later.
Ready to tackle your next tech project safely? Chat with our team to see how easy a cyber risk assessment can be, and let’s help keep your SME thriving, secure, and worry-free! Outfox.co.nz