As the owner and CEO of WOM Technology Management Group, I have witnessed the increasing importance of cybersecurity in today’s digital landscape. Small businesses, in particular, face numerous challenges when it comes to protecting their valuable data and assets from cyber threats. Unfortunately, many cybersecurity providers relieve themselves of all responsibility in the event of a cyber attack, leaving the burden solely on the small business owners. This flawed relationship prompted us to develop a solution that truly shares the risk between the provider and the customer. In this blog post, I will explore the common pitfalls in the relationship between small businesses and their cybersecurity providers and explain how our Confidence as a Service™ offering addresses this issue.

The Flawed Relationship

In the typical relationship between a small business and a cybersecurity provider, the provider promises to do everything possible to protect the client’s business from cyber threats. However, when the worst happens and a breach occurs, it is often the small business that ends up shouldering the financial burden. Post-incident projects, such as incident response, forensic investigations, and service restoration, can lead to substantial costs. It is the small business that writes checks out of their company account to pay the cybersecurity provider for these services, while the provider remains unaffected financially. This lopsided dynamic highlights the lack of shared risk in the traditional model.

The Need for Shared Risk

As a small business owner myself, I firmly believe that cybersecurity providers should bear some responsibility and provide mechanisms for payouts to their clients in the event of a breach. Relying solely on cyber liability insurance is not enough. Small businesses face not only financial losses but also reputational damage and potential loss of customer trust in the aftermath of a cyber attack. It is crucial for cybersecurity providers to acknowledge their role in mitigating these risks and providing tangible support to their clients.

Introducing Confidence as a Service™

At WOM Technology Management Group, we recognized the flaws in the traditional cybersecurity model and developed Confidence as a Service™ as a solution. We firmly believe in sharing the risk with our clients, and this belief is at the core of our service offering. Our approach goes beyond simply promising to protect our clients; we provide an immediate and direct payout in the event of a breach or successful cyber attack.

How Confidence as a Service™ Works

With Confidence as a Service™, we establish a true partnership with our clients. Our service includes a built-in mechanism for guaranteed payouts, separate from cyber liability insurance. In the unfortunate event of a breach, our clients can rely on immediate financial support for post-incident projects, such as incident response, forensic investigations, and service restoration. This ensures that our clients do not bear the full financial burden alone, offering them peace of mind and allowing them to focus on recovery and business continuity.

The Benefits of Shared Risk

By sharing the risk with our clients, we align our financial interests with theirs. We are invested in their success and security. This shared risk model instills confidence in our clients, knowing that we stand by them in the face of a breach. It also drives us to continuously improve our cybersecurity measures, staying ahead of evolving threats and providing the highest level of protection.

Taking Action

The relationship between small businesses and their cybersecurity providers must evolve to include shared risk and accountability. Traditional models that relieve providers of responsibility in the event of a breach place an unfair burden on small businesses. At WOM Technology Management Group, we have addressed this issue with our Confidence as a Service™ offering. By providing a mechanism for immediate payouts, separate from cyber liability insurance, we demonstrate our commitment to sharing the risk with our clients. Together, we can navigate the complex landscape of cybersecurity with confidence, knowing that we are partners invested in each other’s success and security.

Take the opportunity bellow to book an appointment with on of our expert team members to help you learn about what Confidence as a Service™ will mean for your business!

By Derreck Ogden