"It will never happen to me."
That's the most common response from businesses, especially smaller ones, to the threat of a cyber or ransomware attack.
But according to Kimberly Vincent of RevTek Solutions, Canada, ransomware attacks are rampant, and businesses of all size are at risk. As she bluntly puts it: "It's no longer a question of if you'll be hacked, but when."
While many entrepreneurs think they're too small to be targeted, data shows that cyberattacks can happen to any business at any time. Close to a fifth (16%) of Canadian small businesses and 28% of medium-sized businesses were the target of cyberattacks in the 12 months prior to November 2021 (according to a BDC survey).
The bottom line: no company is immune to cybercrime.
More disturbing data: Canadian businesses are predicted to lose up to $4.9 billion to cyber-attacks this year alone.
Many smaller travel businesses may use cybersecurity products and training for their team in an effort to fend off hackers and phishing attacks. However, it's important to remember Vincent Says "you are as vulnerable as one person on your staff opening a Phishing email."
Vincent, who is the daughter of Thomas Vincent, who built Global Travel Apartments into a worldwide leader in furnished suites for corporate travellers, says "RevTek's Blockchain Solution is the missing piece, the one thing you should always have - a last line of defence."
Most companies have a storage/backup solution for their data, but Vincent again says this isn't enough, because backups can be infected, corrupted, and manipulated.
Another defensive tactic companies use is to purchase Cyber Insurance, which can help with liability issues, but won't get stolen data back.
Once a ransomware or infrastructure attack has occurred, companies face a range of difficulties, even if a ransom is delivered.
Sometimes data is not returned, even with a ransom paid, and a company must start from zero. Other times, data is returned, but it is hopelessly corrupted. On still other occasions, once a company gets back up and running, the hackers strike again. On average, it takes between 21-24 days for a company to return to full strength after a cyberattack - that is a lot of missed revenue and downtime.
Vincent says RevTek's Blockchain Solution offers a cost-effective solution for businesses to protect their critical information.
Here's how it works:
For a minimum of $39.99 per month, customers can upload up to 100 GB of critical information - which equates to about 650,000 document pages. It's not intended as a backup solution, but a place to safely store only the most important data to a company's operation.
The critical data - most commonly sales and client information - is uploaded via the RevTek Portal Online, then uploaded to the Blockchain, which encrypts, shreds and scatters a secure, immutable and indestructible version of your data across thousands of servers, making it virtually impossible for a hacker to reassemble.
Instead of the average 21-24 days of recovery time after an attack, Vincent says companies protected by RevTek's Blockchain Solution can be up and running again within hours.
"At RevTek we understand that cybersecurity can seem overwhelming for small to medium sized businesses, especially those without a designated IT department," Vincent says.
"When you don't understand the lingo it's daunting, but with the RevTek's Blockchain Solution it's not only easy to use, it is affordable," she adds.
RevTek's Blockchain Solution is infinitely scalable, so it can protect businesses of any size, not just small and medium-sized enterprises. She invites interested travel industry members to contact her to arrange a 'discovery call' to discuss needs and solutions.
"We're getting a lot of interest, including companies in the travel industry," Vincent says. "More people understand that they need a product like this to protect themselves, their businesses and their proprietary information."
Vincent can be reached at [email protected].
Topics From This Article to Explore
