The clock is ticking, and your business might already be a step behind. A 2023 report revealed a startling truth: vulnerabilities are being weaponized faster than defenders can patch them. Attackers act within 19.5 days, while defenders take an average of 30.6 days to respond, leaving a critical gap that cybercriminals exploit.
For businesses without managed patch management, the odds are stacked even higher against them. Every unpatched system is like an unlocked door, inviting threats that can cripple operations, steal sensitive data, and damage your reputation.
Want to keep your business safe, stable, and compliant? Keep reading to uncover the risks of skipping managed patch management and how to safeguard your operations before it’s too late.
Unpatched software is a primary gateway for cyberattacks. According to the 2023 IBM Cost of a Data Breach Report, the global average cost of a data breach reached $4.45 million. These numbers highlight just how much is at stake for businesses.
Attackers often exploit these vulnerabilities with tools that scan networks for weak points. Once identified, they can:
For example, the WannaCry ransomware attack in 2017 targeted businesses with unpatched systems, costing global organizations an estimated $4 billion.
Some business cybersecurity risks tied to outdated systems include:
Avoiding IT vulnerabilities requires proactive measures. Managed patch management ensures updates are applied quickly, blocking these attack vectors before they can cause harm.
Regulations such as GDPR, HIPAA, and PCI-DSS mandate strict data protection protocols, including timely software updates. Falling behind on patch management puts businesses at risk of non-compliance, which can lead to costly fines and legal consequences.
For instance, GDPR violations can result in fines of up to €20 million or 4% of a company’s annual turnover. In 2021, a UK-based company was fined £4.4 million for failing to adequately protect customer data, partly due to outdated systems. Cases like this highlight the importance of patch management in meeting regulatory requirements.
Some consequences of failing to comply with regulations include:
Proactive patch management supports compliance by addressing vulnerabilities before they can be exploited. Managed solutions not only ensure systems are updated on time but also provide detailed reporting to demonstrate compliance during audits.
Staying compliant means protecting your customers, avoiding legal troubles, and maintaining trust in your brand.
Outdated systems tend to be unreliable, leading to crashes, slow performance, and even prolonged downtime. These disruptions don’t just affect internal workflows; they also harm customer experiences.
The consequences of unmanaged systems include:
Businesses relying on older systems risk falling behind competitors, especially when clients expect seamless, uninterrupted services. Managed patch management benefits extend to stability, as it ensures critical updates are implemented on time, keeping systems running smoothly without interruptions.
Proactive maintenance tends to be far more affordable than dealing with issues after they arise. Businesses that neglect patch management often face unnecessary expenses for emergency repairs, data recovery, or even replacing compromised systems. These unplanned costs can add up quickly and disrupt budgets.
Some common cost drivers of unpatched systems include:
Ignoring updates doesn’t just create technical headaches; it leads to financial inefficiencies that could otherwise be avoided. The managed patch management benefits are clear: preventing system failures reduces surprise expenses, helps maintain consistent operations, and ensures resources are used effectively.
By addressing vulnerabilities proactively, businesses can save money and avoid unnecessary disruptions.
When systems fail or security is breached, your reputation is often the first casualty. Customers, partners, and stakeholders expect businesses to prioritize security and reliability. Failing to meet these expectations can lead to lost trust and a damaged brand image.
Breaches caused by avoiding IT vulnerabilities often result in:
For example, in 2021, a well-known insurance company faced public backlash after a breach exposed the personal information of millions of customers. The fallout included a loss of market share, a steep drop in stock value, and reputational damage that lasted for years.
Protecting your reputation starts with securing your systems. Managed patch management ensures vulnerabilities are addressed promptly, reducing the risk of breaches and keeping your business running smoothly. A secure and reliable business inspires confidence among customers and stakeholders, strengthening your competitive edge.
Skipping patches doesn’t just leave systems vulnerable; it also means missing out on performance enhancements and new features included in many updates. These improvements might streamline workflows, enhance productivity, or introduce critical new capabilities.
Some managed patch management benefits related to system improvements include:
Businesses often think of patching as a maintenance task, yet it can be an opportunity to stay competitive. Regular updates ensure your systems evolve alongside your business needs, giving you a technology edge over competitors.
Managed services ensure this process happens seamlessly, without disrupting daily operations.
Skipping managed patch management leaves your business exposed to escalating risks, from cybersecurity vulnerabilities to operational downtime and reputational damage. This article has shown how unmanaged systems lead to costly consequences, including legal penalties and reactive repair bills.
At EMPIST, we take patch management to the next level. Our services are tailored to your needs, featuring automation, remote patching, after-hours updates, and a focus on minimizing disruptions to your business. Our proactive approach ensures systems stay secure and compliant without interfering with your workflow.
Contact EMPIST today to discover how we can keep your business secure, efficient, and ahead of the curve.