Watch as Ben Jacobs, VP of Engineering at Encamp, and Cody Rivers, CTO at AIS, talk about:

[] Why they decided to implement a cyber risk management strategy

[] What type of cybersecurity needs drove each to adopt the Trava cyber risk management solution

[] The process from discovery to implementation and what they learned along the way

[] What implementing a comprehensive cyber risk management program has meant to their customers and their respective businesses

[] What they would tell business leaders about the importance of cybersecurity

For more about Encamp's journey to successful cyber risk management, read the complete case study.

For more about AIS's journey to successful cyber risk management for its clients, read the complete case study.

In this segment, Ben Jacobs, VP of Engineering at Encamp, and Cody Rivers, CTO at AIS, and Trava CEO Jim Goldman discuss the biggest security challenge that small businesses face.

For Ben Jacobs and the folks at Encamp, it's all about making sure everyone within the company has a customer-focused mindset; and protecting your customers' data leads to a security-focused mindset and is actively working to prevent mistakes and avoid security risks. As Jacobs puts it, the odds of an employee accidentally sharing sensitive information at a small company like Encamp are a lot higher than the odds of that same small company being targeted by sophisticated hackers. Because of the potential employee-related security risks that small businesses face, it's important for those small businesses to create a culture of understanding cyber risk management and taking it seriously. Employees need to understand when they're dealing with sensitive information and what steps they can take to protect it.

Cody Rivers talks about how it's important for small businesses to understand budget and tolerable risk. As he notes, you can throw endless amounts of money at cybersecurity for SaaS to protect against various risks, but there are some tolerable risks that you don't need to prioritize, especially with good cyber insurance. For small businesses that may have a difficult time turning a profit while paying employees and growing, it's important to understand these tolerable risks so you aren't spending money on unnecessary digital risk management software or cybersecurity tools that aren't right for your business.

Like Rivers, Jim Goldman talks about the cost of cybersecurity for small businesses and the perspective that small businesses may have. While many small business owners may feel that cybersecurity is too expensive for small businesses, the cost of cybersecurity is far less than the cost of long-term downtime or going out of business. Smart spending is an important part of meeting your cybersecurity needs without overspending, which is why the point Rivers made is so important. It's about getting over the notion that cybersecurity is something that's optional and realizing that it's essential.

Ultimately, cybersecurity should be a focus for your business regardless of its size. If there are cyber threats facing your business, you can't afford to not invest in cybersecurity.