WHILE small and medium enterprises (SMEs) see a promising future in the Philippine market, the proliferation of cyber threats impedes their sustainable growth, according to ePLDT Inc.
The subsidiary of PLDT Inc. said its latest data shows that 98 percent of businesses in the country are working their way up to compete with more established companies. However, security breaches have become their barriers for growth, with 74 percent of small organizations reported to have been breached in 2015 alone, ePLDT said, citing the UK Government Security Breach Survey.
“SMEs have become the prime target of cyber criminals because, compared with larger companies, these emerging businesses have little to no cybersecurity strategy in place—making them easier to penetrate,” ePLDT added. “What’s even more alarming is that, hackers may use these growing businesses as their gateway to attack bigger companies—a scenario that is not entirely new in the digital era.”
According to the firm, SMEs may not feel the pressing need to adopt cybersecurity architecture, “but working with a professional who can identify and mitigate cyber risks will go a long way in ensuring that the company is positioned for steady growth”.
To note, ePLDT is selling cybersecurity solutions and services, like security-risk assessment, digital forensics, ransomware investigation and malware analysis and incident response.