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Ransomware: A Golden Opportunity for MSPs

Oct 22,2018 / by Sam

Ransomware is on the rise globally and and attacks are becoming increasingly common for both small and large sized businesses. MSPs have a great opportunity to partner with businesses to protect their data, and also gain profit by offering effective solutions that defend against ransomware.

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Increased Threat

According to the FBI, ransomware attacks cost their victims a total of $209 million in the first three months of 2016, a stunning surge upward from $24 million in all of 2015. By 2019, ransomware damage costs will hit $11.5 billion, according to Cybersecurity Ventures. That figure is up from $325 million in 2015 and $5 billion in 2017.

Opportunity arises

Smaller businesses often don’t take backups seriously. They often rely on older, outdated solutions that can be time-consuming and tough to manage. MSPs, however, understand well the importance of backup, and can pass along the critical nature of this technology to customers while showing them the real downside of ignoring a backup strategy.

Ransomware is a popular topic and has become a widespread concern. This gives MSPs an opportunity to sell their cloud backup solutions into the SMB market.  

The Right Backup Tools

With many SMBs looking to MSPs for backup help, MSPs need to ensure they employ the right cloud backup solutions not only to protect their customers data, but also to increase their margins.

Cloud backup solutions protect customers' important data by sending copies of the information to a cloud-based server that is located at an offsite data center. Users can still access the  original content. The data is kept safe from events that can ruin the data, such as theft, fire, natural disasters, and even spilled water or coffee. It also allows for continued data access, even in the event of a file loss or system failure.

Consult your MSP for solutions that keep you safe from ransomware attacks.

Topics: Managed Service Provider


Written by Sam

I'm very interested in the technology of all things. I like to write about these things.