Applying security best practices often requires both time and financial investment, which can make it seem necessary to continually increase spending for a stronger security posture. However, rather than constantly chasing new security solutions, it can be more effective to take a risk-based approach when purchasing security tools and implementing measures. When evaluating security investments, companies could consider how these solutions help avoid costs, such as minimizing legal exposure, improving operational efficiency, and reducing risks, including potential safety issues.

Balance security by first understanding the high-risk areas needing immediate attention and invest in security accordingly.Give equal importance to cost-effective solutions such as effective use of open-source security tools or cloud-based services without compromising on critical protections. Reassess your security posture on a regular basis so you do not over-invest where the risk is low-priority. Finally,negotiate terms with third-party vendors for a better price or bundling of services.Finally, focus on employee training. This is one of the cheapest means of improving the level of security-striking a balance between the two: weighing both strategic thoughts through risk prioritization and controlled costs while retaining key protections

Practice shows that it is important to adequately assess business capabilities. A good tactic is to develop a risk register that outlines the consequences of cyber security threats. It is then necessary to approximate the costs of the proposed measures that are intended to mitigate the risks. Sometimes the damage from the consequences can be enormously low compared to the cost of implementing protective measures. But sometimes it is better for a business to forego certain options to avoid being subject to regulations that they are unable to enforce. And of course, you should not make hasty decisions. Often a more in-depth analysis is required, including to find more budget-friendly solutions.

Balancing security best practices and cost-saving requires initiatives careful some prioritization. Start with a risk assessment to identify high-value assets and prioritize addressing critical vulnerabilities, effectively making a risk heat map, and allocate budget aligning with the risk. Utilize open-source security tools and cloud services with integrated security features to reduce upfront expenses. Use EDR solutions for proactive threat detection, and focus on employee training to reduce incident risks. Automate processes like patch management and threat monitoring to save time and reduce manual costs. Regularly reassess risks and adjust security investments to maintain effectiveness against emerging threats without overspending.