Manufacturing Blog

Cyber Security >> Can IT Upgrades Diminish the Risk?

Cyber Security >> Can IT Upgrades Diminish the Risk?


Cyber criminals prey on known flaws in outdated technology to gain access to your critical data.

Malicious security breaches affect individuals and firms of all sizes, leading to hefty financial losses, unproductive downtime, and frustrated employees and clients.  When it comes to cyber security, the best defense is a good offense – which must include up-to-date hardware and software.

“Cyber risk is a moving threat agent,” said Manohar Ganshani, Partner and Global Practice Head of Governance Risk & Compliance for Wipro Consulting in the publication Cyber Warfare, Governance and the Art of War (2014).  “As cyber risks increase, there is no doubt hat your technology must be kept up to date.” 

Most firms acquire I.T. equipment with the intention of replacing it in three or four years.  Unfortunately, I.T. replacement plans are often stifled by budgetary constraints, resulting in clients retaining equipment for far longer than they originally intended.  The risk associated with holding on to equipment – even for just an extra year or two – is that it becomes more susceptible to cyber security threats.

A recent survey[1] conducted by Wirpo Consulting found technology that is four or more years old was 53% more susceptible to suffering a data breach.  To ensure that the most up-to-date software and security is being used, technology equipment should be replaced on a disciplined three-year cycle.

A Plan for Affordable Security

Why a three-year cycle?  Shortening I.T. equipment refresh cycles means that up-to-date cyber attack prevention measures are in place. 

When you think about budgeting for this cycle, leasing can be helpful because you can think of your I.T. payments like you think of a utility payment: a consistent, low monthly payment – rather than an infrequent, huge budget spike.

Beyond that, leasing provides 100% financing, including software and services. 

[1] Wipo Consulting (2009).  “Wipro Consulting Service Survey”

Blog post currently doesn't have any comments.

Follow Us

First American Commercial Bancorp, Inc. is a wholly-owned subsidiary of City National Bank. Deposit products and services are offered by City National Bank Member FDIC. City National Bank is a subsidiary of Royal Bank of Canada. For California clients: Loans made or arranged pursuant to a California Finance Lenders Law license. All trademarks are the property of their respective owners. Additional terms apply and can be found by visiting

© 2023 First American Equipment Finance. All rights reserved.