Unfortunately, we live in an era marked by relentless cyber threats. So, it has never been more important for organisations to implement effective cyber security solutions. While investing in robust protection is crucial, business owners must also find the balance between spending and saving. Today we discuss this topic and how businesses can strike the right balance when it comes to Cyber Security.
Choosing the best option for your business
Cyber Security is a growing concern for many as technology continues to integrate further with every aspect of our everyday lives. Systems continue to expand and contain increasing amounts of personal and business critical data. As this continues to evolve, so does the protection available against attack, through technological controls such as firewalls, encryption and endpoint protection and educational controls, such as employee training. A challenge for many businesses is finding the right balance between spending on security and saving money.
The cost of underinvestment
Whilst overinvestment may be costly, it will not bring the same problems that underinvestment will.
Opting for cost cutting measures or quality measures and neglecting cyber security can expose organisations to significant risks. These include cyber-attacks, data breaches and system compromise, which can lead to financial losses, a halt to business operations, reputational damage, and legal liabilities. The cost of this is often significantly more damaging to a business than the initial investment to create a robust and secure system.
Why overinvestment isn’t always the answer
Overinvestment could see the business splurging on every available security solution. This is another careless approach, which may also be ineffective if the solutions are incorrectly configured.
Assessing the threat landscape
All elements of Cyber Security should be carefully considered through a strategic approach, which accommodates for strategic spending. Doing this, involves identifying and prioritising risks in line with the threat landscape (both generally and specifically to your business) and investing in the measures that best protect these areas.
This strategic planning can also help maximise savings by leveraging available resources effectively and mitigating duplicate solutions.
At CTRL-S, we have a wide range of solutions available to assist you and your business as well as the expertise to tailor the perfect package for you. Get in touch to discuss your free cyber security audit today.