FEATURE
Through building a targeted budget , organisations can achieve immediate and ongoing cost savings and secure a sustainable future for their cybersecurity .
( SIEM ) technology achieves immediate and ongoing cost savings , compared to adopting any other SOC model .
Companies need to pivot and learn how to maximise cybersecurity spending in an era of costly cyberattacks . While the actual costs of deploying necessary security policies are measurable , the cost to an organisation ’ s reputation once victim to a successful data breach is priceless . Cybersecurity needs to be a top priority for organisations to overcome the risk of suffering a damaging attack .
Aligning cybersecurity priorities and investments with business goals
The days of relying solely on security and IT teams for cybersecurity decisions are gone . After all , business stakeholders know their business ’ privacy , data protection and regulatory risks better than anyone and should be invested in the cyberthreat conversation .
CISOs understand the top security concerns of key business stakeholders , business objectives , critical business areas and the systems and networks that support those areas informs an organisation ’ s cyber programme . This knowledge connects security initiatives with business outcomes and ensures a robust security posture that manages the biggest threats to the organisation .
The cyberthreat game board is changing all the time and CISOs are working hard to keep up with shifting priorities . Discussing business outcomes instead of security tactics helps CISOs align with stakeholders on business goals . An outcome-based discussion assists with fine-tuning the programme to ensure the right amount of cybersecurity investment needed for budgeting costs efficiently .
Starting the cybersecurity conversation
Once business priorities are driving key cybersecurity decisions and IT risk mitigations are rolled into those decisions – but not the primary driver – the cybersecurity conversation takes on a more executive-level role .
In other words , once a risk optimisation approach is taken , security leaders are given a seat at the table . This allows them to educate and inform their colleagues , shifting the organisational mindset to cybersecurity as a business solution .
With security priorities becoming interdependent on business priorities , there ’ s a solid argument that cybersecurity leaders should report to the CEO to gain the organisational influence required to do the job .
CISOs need to be ready to talk about spending priorities and budget decisions based on an understanding of cyber risk related to the organisation ’ s security needs . This will inform C-suite executives with the insight they need to understand where their cybersecurity budget is best placed .
Budgeting for better outcomes
The rise of new and more sophisticated threats demonstrates that organisations need to move to a more targeted approach when it comes to allocating their security budget . In addition , as organisations harness greater levels of digital adoption , it is becoming increasingly harder for security teams to ensure that every single aspect of their company ’ s operations are properly secured .
By taking a targeted approach to building a cybersecurity budget , organisations can achieve a greater return on investment and ensure they are adequately protecting the aspects of their business that require protection . This risk optimisation approach takes the pressure off security teams while enabling CISOs to align cybersecurity priorities with business goals . Through building a targeted budget , organisations can achieve immediate and ongoing cost savings and secure a sustainable future for their cybersecurity . u
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