{"id":18548,"date":"2021-01-06T19:27:00","date_gmt":"2021-01-06T16:27:00","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=18548"},"modified":"2026-03-27T20:10:52","modified_gmt":"2026-03-27T17:10:52","slug":"damage-limitation-timely-software-updates-can-cut-business-data-breach-costs-in-half","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/damage-limitation-timely-software-updates-can-cut-business-data-breach-costs-in-half\/","title":{"rendered":"Damage limitation: timely software updates can cut business data breach costs in half"},"content":{"rendered":"\n
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According to a recent Kaspersky report, \u2018How businesses can minimize the cost of a data breach,\u2019 enterprises with outdated technology can lose\u00a047%[AO1]\u00a0\u00a0more money when they suffer a data breach than those who update everything promptly. For small and medium-sized businesses, the difference is even starker \u2013 up to 54%. The problem of obsolete and unpatched software is quite common and important for businesses to address since nearly half of the organizations\u00a0(47%)\u00a0[AO2]\u00a0use at least some form of out-of-date technology their infrastructure.\u00a0<\/strong><\/p>\n\n\n\n

While vulnerabilities are inevitable in any software, regular patching and updates can minimize the risk of exploitation. That\u2019s why users are always advised to install the latest software versions as soon as they are available, even if these updates can sometimes be difficult or a time-consuming task for organizations. With many businesses globally having at least some form of outdated technology (47%[AO3]\u00a0), Kaspersky\u2019s survey shows that organizations should prioritize renewing software and be prepared to invest because doing so could save them money in the long-term.\u00a0<\/p>\n\n\n\n

If a data breach happens,\u00a0enterprises with any form of outdated technology, including unpatched operating systems, old software, and\u00a0unsupported mobile devices,\u00a0can suffer an additional\u00a0$425k\u00a0[AO4]\u00a0in financial damage, taking losses to a total of\u00a0$1.225m[AO5]. This\u00a0is47%[AO6]\u00a0\u00a0more\u00a0than the cost for companies with completely updated technologies\u00a0($836k[AO7]\u00a0). As for small and medium-sized businesses, they can lose an additional\u00a0$40k[AO8]. The total cost rises to\u00a0$114k \u2013\u00a054%\u00a0[AO9],\u00a0more\u00a0than $74k\u00a0<\/a>[AO10]<\/a>\u00a0for businesses with all required updates installed.\u00a0<\/p>\n\n\n\n

Among the reasons given for not updating technologies, the most commonly reported is an incompatibility of updates with in-house applications (48%)<\/a>[AO12]<\/a>\u00a0. This reason can be critical for organizations developing software internally to meet their own needs or when using very specific applications with limited support. Other reasons seem more down-to-earth: employees often refuse to work with new versions of the software they\u00a0use (48%). In some cases, technologies are not updated because they belong to members of the C-suite (34%).\u00a0[AO13]\u00a0<\/p>\n\n\n\n

\u201cAny additional costs for business are of course critical, especially now. The global economic situation is unstable because of the pandemic and investments in IT and IT security are predicted to decrease. This is why in this year\u2019s \u2018IT Security Economics\u2019 report we wanted to explore how businesses can reduce the burden in case of a cybersecurity incident. It offers strong reasoning why the issue of obsolete software is so important. Even if it is impossible to get rid of it overnight, there are still some measures to mitigate the risk. Companies can not only save money but also avoid other potential consequences – which is crucial for any business,\u201d commentsSergey Martsynkyan, Head of B2B Product Marketing at Kaspersky.\u00a0<\/em><\/p>\n\n\n\n

In order to save money and minimize the risk of data breaches as a result of software vulnerabilities, Kaspersky suggests the following measures:<\/strong><\/p>\n\n\n\n