One Step Today Beats Zero Steps Tomorrow: What Monroe County Businesses Need to Know About Cybersecurity

— Stacie Marotta, Membership & Communications Director • Bloomington Economic Development Corporation

Every organization in Monroe County has something worth protecting. Customer data. Payroll systems. Vendor relationships. A trusted reputation built over years.
That is exactly why the Bloomington Economic Development Corporation made cybersecurity the centerpiece of its May Board Meeting and why the conversation matters to every business, nonprofit, school, and public agency in our community.

The panel, moderated by Isak Asare of Indiana University's Hamilton Lugar School of Global and International Studies, features Tim Pritchett, Vice President of Service Delivery at Matrix Integration, and Rob Nugent, Cyber Risk Advisor at Hylant Insurance. Together, they delivered a clear, practical message: cyber threats are not a distant corporate problem. They are happening right now, to organizations of every size, and preparation does not have to be complicated.

The numbers back that up. The FBI's Internet Crime Complaint Center recorded more than 859,000 cybercrime complaints in 2024, with reported losses exceeding $16 billion, a 33% increase from 2023. The average loss per incident jumped to nearly $19,400. These are not just big-city numbers. We’ve seen them in communities like ours.
Pritchett made this point: every organization has something of value, and the real question is not whether you are a target;  it is whether you are prepared if something happens.

Nugent walked through three of the most common claims his team sees: ransomware, social engineering, and supply chain attacks. The most costly incidents started with something as simple as a fake invoice or a fraudulent banking change request. He gave straightforward advice: Pick up the phone and verify before you send money. That one habit, calling a known number to confirm the request, can stop a costly mistake in its tracks.

Supply chain risk is also worth understanding. Many local businesses rely on outside software, payroll platforms, or cloud services. If one of those vendors is compromised, your operations are at risk even if your network was not initially compromised. Knowing which vendors you depend on and asking them about their security practices is a low-cost step.

Cyber insurance is increasingly part of a sound preparedness strategy. Underwriters typically look for basics: multi-factor authentication, employee training, secure backups, and endpoint detection tools. Insurance does not replace good security practices, but it can help organizations access the right response resources quickly when an incident occurs.

The strongest takeaway was that progress matters. Every organization can strengthen its cyber readiness by starting with one practical action. 

The panelists closed with a challenge that every organization in Monroe County can act on today: pick one step, implement it, and keep building from there. Start with multi-factor authentication. Schedule a team conversation about phishing. Review which vendors have access to your systems. Baby steps, taken consistently, add up to real resilience.

Economic strength depends on organizations that can operate with confidence. Cybersecurity is part of that foundation, and the BEDC is committed to bringing conversations like this to our community. Learn more about the BEDC work. Schedule time with a BEDC Staff Member today.