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How Startups can Use Cloud to overcome their IT Security Nightmares

Altaf Halde, Managing Director, Kaspersky Lab
Monday, November 14, 2016
Altaf Halde, Managing Director, Kaspersky Lab
Headquartered in Moscow, Kaspersky Lab is the leading provider of security solutions to endpoint users. Being the innovator in IT security, it provides effective digital security solutions for large enterprises, SMBs and consumers.

The average IT security budget for a startup currently exceeds 18 percent of the business’s annual IT spending and continues to grow. The reasons for this are not hard to find. Growing IT complexity and maintenance costs are leading the trend. Security incidents also contribute to mushrooming spending. Today’s threat landscape, with its rapid expansion of ransomware, POS exploits and DDoS attacks, is forcing businesses to protect themselves by buying in more software and expanding their IT team. But can startups afford to put so much resource for IT? Is it viable when resources are scarce?

Growing IT spend is not an easy job for Startups. As a matter of fact, 66 percent of startups spend less than Rs. 60,000 a year on IT security. Yet, the cost of a data breach could range from minor inconvenience, loss of customer data and reputation damage, to fines, and ultimately company closure.

The economic reality of data losses can be tougher than expected, and start ups have to be even smarter about budgets during an economy downturn. Seeking to find a solution, startups attempting to achieve an advanced level of business data protection, while avoiding additional costs, are starting to embrace a new model of IT security management – cloud infrastructure.

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