Why Cybersecurity is a Secure Investment

  • Home
  • Blog
  • Why Cybersecurity is a Secure Investment

Why Cybersecurity is a Secure Investment

Businesses show their commitment to cybersecurity by investing money and time into solutions and practices that can help them protect, detect and respond to cybercriminals. They take a variety of actions to safeguard the company.

For solutions that do cost money, businesses allocate a certain percentage of their IT budget to cybersecurity and others plan to increase how much they spend protecting the company. Businesses recognize that this investment is worth it because three out of four know that it costs more to recover from an attack than it does to prevent one.

Businesses Prioritize External Threats

When we think cyberattacks most of us think viruses, malware and other external threats. This thinking is reflected in the way most small and medium-sized businesses invest in security. The top four solutions that businesses allocate their money toward are: endpoint anti-virus software, anti-phishing software, cloud backups and email encryption. These solutions are geared toward the malicious, external hacker. We also see a prioritization of outside threats in practices that businesses keep.

Prepare for the Worst

If you are one of the SMBs that has suffered a cybersecurity incident in the last year, you already know that cybersecurity is a big deal. You are probably already planning additional actions.

Businesses that have been attacked quickly learn that it is cheaper to invest in protection than recover from an attack, and they are significantly more likely to increase their budget for security than those that haven't been attacked. There are also low-cost and free methods to improve your security posture. Businesses that have suffered an attack are much more likely to increase accountability by defining security responsibilities for key IT resources.

Education can mitigate many risks, and businesses that have suffered an incident recognize this and have begun training employees on detecting and reporting suspicious links, attachments and emails, avoiding malicious websites and downloading only verified applications.

An attack is a chaotic and disarming situation. Previously attacked businesses are more likely to develop a response plan that allows their companies to respond strategically in the middle of an attack rather than just react.

This practice can reduce the time that a malicious actor has access to sensitive data. A good response plan includes a checklist of steps that defines roles and responsibilities if an incident occurs. It can include things like a contact list for technical, legal, and compliance resources, the chain of command for quick decision-making and a communication plan for notifying stakeholders.

You don't have to wait until you are attacked to develop a security-aware mindset. Whether you were attacked three months ago, three years ago, or if you are one of the lucky ones that has yet to be targeted, you can begin putting these lessons into practice at your company.

Recommendations:

  • Adopt a security-aware mind-set.
  • Define and assign IT security responsibilities
  • Have a dedicated budget for security
  • Institute regular employee training
  • Implement an incident response plan.

As a full suite IT and cybersecurity firm, Restech can help with your security needs. Contact us to learn more.

New call-to-action

Recent Posts