The $10 Trillion Global Cyber Risk
Cybercrime is projected to cost the global economy $9.5 trillion in 2024, with damages expected to soar to over $10.5 trillion annually by 2025.
Small and medium-sized businesses (SMBs) face heightened risk, often lacking the resources and expertise needed to defend against these escalating threats effectively.
The High Stakes for SMBs
The impact of cyber incidents on SMBs is profound:
- Business Closure: Approximately 60% of SMBs close within six months following a cyberattack, primarily due to the financial strain and loss of customer trust.
- Financial Burden: The average cost of a cyber incident is now estimated at $30,000 USD Organizations with fewer than 500 employees faced an average breach cost as much as $3 million USD
- Reputational Damage: Beyond immediate financial losses, cyber incidents erode customer confidence and can lead to long-term reputational harm, affecting future business prospects.
Proactive Cyber Risk Management
Given these risks, it’s essential for SMBs to adopt proactive cyber risk management strategies. With the rapid emergence of AI, cyber threats have grown more sophisticated, making it crucial for businesses to stay ahead. Implementing robust cybersecurity measures not only protects against potential threats but also strengthens business resilience and maintains customer trust.
Overpass is dedicated to providing SMBs with accessible, effective cybersecurity solutions that empower them to navigate the increasingly complex cyber landscape with confidence, ensuring they are prepared for both current and future challenges.
Six Critical Risks Affecting Businesses Globally
Today’s businesses face real risks that can disrupt operations and damage reputations. Tackling these challenges is crucial for every business to stay secure, resilient, and ensure smooth operations.
Cyber Risk & Security Threats
Cyber security Threats
Cyberattacks, ransomware, and data breaches are becoming more sophisticated daily. With AI-driven threats on the rise, protecting your business has never been more critical.
Strategy & Long-Term Planning
Clear Strategy
Reacting to IT issues instead of proactively addressing them? A lack of a long-term strategy can leave businesses vulnerable to operational inefficiencies and security risks.Legal & Compliance Obligations
Compliance Headaches
Meeting evolving regulations, such as the Privacy Act, Mandatory Notifiable Data Breach Scheme (NDB), and ISO 27001, can be overwhelming. Non-compliance can lead to costly audits and reputational damage.Aligning Technology with Business Goals
Tech & Business Alignment
Many businesses struggle to align their IT investments with their overall strategy. Technology initiatives that drive business growth, or are they just adding to inefficiencies and overhead?Skilled Tech & Cyber Talent
Talent Shortages
With top cybersecurity and IT talent being absorbed by larger companies and governments, finding qualified professionals is increasingly difficult. This shortage can leave businesses vulnerable to inefficient systems and security gaps.Vendor Relationships
Vendor Dependence
Vendor lock-in and lack of transparency can be costly. Are you getting unbiased, vendor-agnostic solutions that genuinely benefits your business while managing risk.
Growing Risks
Many SMBs today may be facing some or all of these critical risks or perhaps they’re unaware they even exist. Without a clear understanding and complete visibility, managing these risks is virtually impossible.
The reality is, you can’t manage what you can’t see and control.
“The definition of insanity is doing the same thing over and over and expecting different results.” – Albert Einstein
Overpass is developing an innovative, cloud-based SaaS platform specifically designed to empower small and medium-sized businesses (SMBs) to manage cyber risk effectively and affordably at scale.
Grounded in cybersecurity expertise and best practices, our early-stage solution is tailored to meet the unique challenges that SMBs face in today’s evolving cyber landscape.
At Overpass, our mission is to empower SMBs with a self-sufficient, automated cyber risk management solution that eliminates complexity, reduces costs, and allows small businesses to operate with the confidence of enterprise-level security.
Cyber Risk Management Strategy
Overpass integrates each organization’s unique cyber risk management strategy into a single, unified platform, empowering stakeholders to manage cyber risk with clarity and precision. Using our Cyber Matrix with customizable scopes and baselines, Overpass delivers a real-time, high-level view of technology and cyber risks.
This streamlined, single-pane approach enables executives, IT teams, and cybersecurity leaders to make data-driven decisions aligned with the organization’s specific risk profile and strategic objectives, proactively addressing emerging threats and ensuring cohesive, effective cyber risk management.
Cyber Risk Insights & Strategic Collaboration
Overpass bridges the gap between executives and IT teams, aligning them on shared goals and a vision of cyber resilience. Built on the principle that ‘We know what we know, but we don’t know what we don’t know,’ Overpass uncovers hidden vulnerabilities and unseen threats that put SMBs at risk.
By partnering with Overpass, SMBs gain access to our team’s expertise, including advanced security research, deep threat analysis, and vendor insights. We empower organizations to manage cyber risks proactively, and with clarity and confidence.
Confidence with standards & compliance
As cyber risks escalate, governments worldwide are rolling out stringent regulations that hold businesses and their leaders accountable for managing cyber risk. Fines and even prosecution may soon become realities for executives and IT teams who fail to meet these evolving standards.
Overpass empowers SMBs to stay ahead of regulatory demands by embedding compliance into their cyber risk strategy, providing a clear framework that safeguards both the business and its leadership. Organizations can confidently navigate complex compliance landscapes, mitigating risk and ensuring secure, sustainable growth.
With over 17 years in technology and cybersecurity, I’ve seen first hand how businesses struggle to keep up with the relentless pace of technology and cyber threats.
But i’ve now realised we’re fighting a losing battle without smarter, scalable tools designed from the ground up. Enterprise solutions are overly complex and costly, leaving small and medium businesses exposed.
That’s why I’m launching Overpass: to provide streamlined, affordable cybersecurity solutions to the SMB’s, so they can manage cyber risks with confidence.
