Cybersecurity Needs To Be A Priority
Business and security leaders across the globe are being challenged to adjust their view of cybersecurity for a variety of reasons, such as slow growth in budget and unhappy board members. Many businesses have always been divided when it comes to cybersecurity, as there has always been a blurred imaginary line.
The difficulties when it comes to cybersecurity lie with some business leaders, executives, and employees failing to understand the impact that cybersecurity can have on their business, whereas others view cybersecurity as a technical challenge that is dominated by technology and compliance regulations.
Businesses are under ever-evolving cyber threats today by bad actors with unmatched powers. Cyber threats and attacks on businesses, business downtime and disruptions, and remediation costs can be costly. Cybersecurity is a problem that should not be overlooked by any business – regardless of its size. The cost of a cyberattack or data breach is often a triggering point for business and security leaders wanting to understand cybersecurity.
Businesses that place cybersecurity on the sidelines have to face a harsh reality once a cyberattack or data breach occurs. With cyber threats becoming more and more sophisticated, and with data breaches impacting businesses of all sizes, businesses must make cybersecurity one of their highest priorities. Cybersecurity should be one of the top priorities driving technology spending.
Cybersecurity Is a Big Deal
Why is cybersecurity so important? This is a question that is asked consistently, and sometimes it is difficult for people to generate an answer to the question. There’s often a lack of knowledge when it comes to cybersecurity and its importance. Think about all of the devices that are on your network; all of these devices have strengths, but potential vulnerabilities as well. Given the potential vulnerabilities of all your connected devices, it’s no longer a matter of if, but when, you will become the victim of a data or security breach.
There has always been a misconception that cybercriminals only go after large and well-known businesses, leading many business leaders to think that they are safe. Much of this stems from businesses that are in a transition stage. Many businesses are using outdated technology that they are having a difficult time departing with, while at the same time deploying new technology. The weakest link is always the one that breaks the chain, so if your business is still using outdated, unsecured technology, it will not matter how effective your secure technology is.
So who’s benefiting from businesses failing to take cybersecurity seriously and making it a priority?
- Those who launch cyberattacks and steal information that is then held for ransom
- Those who violate security for their own personal gain or out of malice
- Those who launch cyberattacks against other countries
The Costs of Cyber Security: Prevention vs. Recovery
Data breaches and cybersecurity resources that protect IT systems have something in common: they both cost money. However, the key difference is that the price for cybersecurity solutions that prevent a breach can be measured and calculated upfront, but the cost of recovering from a data or security breach cannot be determined upfront.
Many business and security leaders want to avoid investing too much money in cybersecurity resources because they feel that investing in cybersecurity resources that will not be used will only weaken their bottom line. This leads many leaders to wonder: does the cost of cyberattacks and data breaches justify the cost of cybersecurity prevention?
In the event of a data breach, the cost per compromised record can be costly. If your business has thousands of records, the total cost of a data breach can place a major strain on your financial resources. Any business that experiences a cyber-attack or data breach can agree that recovering from an attack or breach is more financially disruptive than the cost of prevention.
Why Do Businesses Need a Cybersecurity Culture?
Businesses that invest in cybersecurity will generally base their investments on technology, but they may not always address the human side of cybersecurity — which remains the biggest cybersecurity risk for many businesses.
Cybercriminals will typically perform attacks on an organization using phishing scams and other tactics, making employees the weak line and the first line of defense that must be strengthened. Employees are the ones who are clicking on malicious links in the phishing emails, not the devices and mobile applications themselves. This is why businesses should focus more on their cybersecurity investments. Employees have access to computers, networks, data, and systems, which means they have a key role in your business building resilience in today’s ever-growing threat landscape.
When it comes to cybersecurity, your business must have a culture that is centered around cybersecurity. Establishing a cybersecurity culture in the workplace involves more than creating policies. When policies are created, your employees must be given an explanation of the policies that you want them to follow. Your employees are not putting your business operations at risk on purpose (unless you have a disgruntled employee who is waiting for an opportunity to strike). The employees who want to protect your business need training and guidance so they can be better prepared if they are faced with a cyber threat or attack and so they can avoid various types of cybercrime.
Employees and Executives Must Buy-in
Even when businesses and organizations want to focus on developing cybersecurity awareness, not every individual will understand his or her role in the business’s cybersecurity culture. While IT and security teams are known for their knowledge and awareness of cybersecurity, they’re not the only pieces of the puzzle.
Employee and executive buy-ins are two of the key reasons why it’s becoming even more difficult for businesses and organizations to ingrain proper cybersecurity practices in their workplace. Many employees have never been given proper cybersecurity training, so it’s not surprising to us to discover that the majority of them do not have good cyber hygiene.
Cybersecurity training must be more than something you lead on an annual basis. Cybersecurity training should be an engaging experience that will leave everyone with an understanding of their role in the cybersecurity culture of the business. Cybersecurity training should involve employees, business leaders, and executives.
Determining the best cybersecurity solutions that will fit your business’s unique needs can be a daunting task. Every business and organization needs to assess its current cybersecurity landscape to identify its strengths and weaknesses. tech42 LLC can help you discover the cybersecurity solutions that will keep your business safe and secure in the ever-evolving threat landscape.
Engage with us when you are ready to have a conversation about your cybersecurity requirements and business objectives.
Thanks to my colleague, David with CEU Technologies in Chicago for his help with this research.