How Security Awareness Training (SAT) Reduces SMB Risk and Expense

Some solutions are more effective than others when it comes to cybersecurity, and experts agree on the importance of a strong Security Awareness Training (SAT) program. As a trusted MSP (Managed Service Provider), Louisville Geek understands that SAT is vital to helping organizations protect their IT systems, users, and data. The National Institute of Standards and Technology (NIST) emphasizes that a robust IT security program cannot be effectively implemented without focusing on training users about security policies, procedures, and techniques.

What is Cyber Security Awareness Training?

Cyber Security Awareness Training (SAT) educates employees on the risks of everyday cyber threats. It arms them with knowledge about the tools, techniques, and methods hackers use to trick users, steal credentials, gain system access, and compromise networks. By implementing a comprehensive SAT program, small and medium businesses (SMBs) can reduce the likelihood of data breaches, system disruptions, and costly outages.

At Louisville Geek, we know SAT is crucial for helping your employees recognize and resist common cyber threats, including social engineering, spear-phishing, ransomware, and business email compromise (BEC). SAT also includes training on physical security, such as safeguarding workstations and sensitive documents. A well-executed SAT initiative keeps these topics at the forefront of employees’ minds, improving compliance and reducing the potential costs associated with cyber incidents.

Why is Cyber Security Awareness Training Necessary?

The need for cyber security awareness training has never been more urgent. As cybercriminals become more sophisticated, their attacks grow increasingly destructive, often exploiting human error.

Cybercrime is estimated to cost businesses an astonishing $8 trillion annually. Louisville Geek understands that SAT offers a cost-effective way to educate employees about the common cyber risks and methods criminals use to exploit vulnerabilities. Nearly three-quarters of breaches are caused by human error, and SAT directly addresses this critical vulnerability.

Moreover, SMBs are frequent targets of cyberattacks. An eSentire report indicates that SMBs account for over half of all cyberattacks, highlighting the need for training to help employees recognize phishing and social engineering attempts. The Cybersecurity and Infrastructure Security Agency (CISA) also reports that 44% of small businesses have been victims of cyberattacks, underscoring the necessity of regular employee training on the latest cybersecurity threats.

How Does Cyber Security Awareness Training Work?

Cyber Security Awareness Training programs generally consist of a variety of elements, including:

• Web-based instructional content: Videos and modules to educate employees on cyber threats.
• Interactive quizzes: To test understanding and retention.
• Phishing simulations: Real-world tests to measure employees’ ability to recognize and resist attacks.
• Security policies: Establishing best practices for secure online behavior.
• Social engineering: Teaching employees how to identify and respond to malicious attempts.
• Password safety: Educating on the importance of strong, unique passwords.
• Physical security: Ensuring the protection of workstations and sensitive documents.
• Incident reporting: Providing clear instructions on reporting potential breaches.

At Louisville Geek, we emphasize that SAT should be an ongoing effort. SMBs must ensure their training programs are kept up to date and relevant. New employees should undergo SAT promptly, and periodic testing (including phishing simulations) helps maintain vigilance and high levels of compliance.

Calculating the ROI of Cyber Security Awareness Training

As an MSP, Louisville Geek knows that businesses want to see a return on their investment in SAT. Some providers, like KnowBe4, have demonstrated the ROI of SAT programs through cost savings from reduced cyber risk. Their model suggests that SMBs could save up to $45,000 annually by investing in SAT, based on a reduction in phishing-related incidents.

Numerous studies support the efficacy of SAT in reducing cybercrime-related costs. A Ponemon Institute report found that SAT can significantly lower the likelihood of a breach, ultimately saving businesses substantial amounts in downtime, reputational damage, and recovery efforts.

How to Get Started with Cyber Security Awareness Training

Building and maintaining an in-house SAT program can be challenging and expensive for SMBs. Thankfully, there are several reputable providers that offer affordable, ready-made solutions.

As your MSP, Louisville Geek is here to help you select the right SAT program for your organization. We can assist with everything from choosing the best platform to implementing the training and ensuring that it meets your business needs. If you’re ready to enhance your organization’s security posture and protect your data, contact us today at Louisville Geek. Our experts are ready to guide you through the process and support you every step of the way.