Changing Your Perspective on Investing in Cybersecurity

Enhanced cybersecurity measures lead to sustained business success and resilience?

Many organizations readily invest in technologies like Internet of Things (IoT) devices, warehouse robots, and hardware. Doing so just makes sense due to their ability to optimize operations, provide valuable business insights — and offer tangible benefits upon deployment.??

In contrast, investing in a sound cybersecurity strategy may not always appear immediately beneficial. They nevertheless crucially safeguard the organization's assets and reputation in the long term.???

The unspoken ROI of cybersecurity??

Managing vulnerabilities for an enterprise is largely preventative. The intangible value it provides is hard to quantify as a result.???

But, if everything goes according to plan, you won’t know how much you’ll have saved avoiding a crisis. Yet, in the worst instances, you may just find yourself in a situation like this law and financial services firm that avoided paying a $1.8 million ransom following a phishing attack. Quick action and an all-hands-on-deck approach to mitigation, remediation, and prevention helped the firm regain business functionality in less than two days and full functionality within one week without having to pay.??

Factors like resource constraints and existing technical debt can further complicate the decision-making process around investing in cybersecurity. Taking everything into account, the critical importance of investing in cybersecurity is often undervalued and underappreciated. So, prioritizing cybersecurity should be an obvious decision.?

Cybersecurity as a viable business strategy?

Organizational priorities constantly evolve, but one should consistently stay atop the list: innovation. In the current market landscape, leveraging technology to drive innovation is necessary to stay competitive and relevant.?

However, to innovate with technology, you also need to consider its security. Rolling out new technology into your environment adds complexity, though. It expands the potential attack surface, heightening the risk of a breach. As the global average cost of a data breach has soared to $4.88 million , investing in cybersecurity is as indispensable as ever.?

Here are a few ways that your business can capitalize on strengthening cybersecurity:?

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1. Drive growth. Security solutions like Security Incident and Event Management (SIEM) and Security Orchestration, Automation, and Response (SOAR) play pivotal roles in facilitating business expansion. Modern security solutions also help organizations easily onboard employees by handling tasks like device provisioning and application permission management and implementing policies to monitor potentially malicious user behavior.?
2. Boost productivity. Managing an array of technology assets is a challenge. IT teams can still automate the discovery and configuration of technology assets, while enhancing governance with tools like Continuous Threat Exposure Management (CTEM) to pinpoint vulnerabilities and automate remedial actions. This way, organizations can mitigate the risk of security breaches and alleviate the strain on internal resources.?
3. Reduce impact. No system is immune to cyberthreats. So, organizations must strategically allocate their time and resources in cybersecurity investments. Solutions that support Risk-Based Vulnerability Management (RBVM) help them prioritize their critical vulnerabilities. By focusing on managing high-risk vulnerabilities, they can proactively reduce exposure to security threats and mitigate the impact of breaches.??

Improve your security posture?

Improving your organization’s cybersecurity posture is a long process, not a one-off investment. If you’re not sure where to start, here’s what we recommend:??

• Implement a Data Loss Prevention (DLP) policy to help prevent accidental breaches by restricting downloading/sharing documents with automated sensitivity labels.??
• Increase the level of end-user awareness to help prevent phishing attacks through simulated emails and mandated quarterly training sessions.??
• Deploy an identity solution using Multi-Factor Authentication (MFA) to help prevent stolen-credential and account-compromise attacks.?

Make no mistake, investing in cybersecurity isn’t a priority that should be set aside. A strong cybersecurity program strategically positions your organization for success, as you safely roll out technology to maintain your competitive edge.??

To learn more about how to streamline security management and reduce the risk of a cyberattack, download a copy of this Insight eBook: Beyond the Critical: Redefining Vulnerability Management .?

For even more information on how Insight can help you strengthen your cybersecurity posture, visit insight.com or call 1.800.INSIGHT.??