The Biggest Bang for Your Cybersecurity Buck
Now that your organization/board is allocating more money for cybersecurity, how do you optimize it? Here are three simple rules that will get the biggest bang for your buck:
- Balance Protection and Recovery – The cliche that “you’ve either been hacked or are about to be” is truer than we’d like. Stay humble. Most companies underspend on recovery and are largely unprepared when something happens. (Hint—immutable storage is the second-best deal in cyber security, multifactor authentication or MFA being the best deal.)
- Plan For Diminishing Returns – The first 20% of your spend gets you 80% of the benefit in each part of your program. Lean towards a complete program, even if it means that some elements aren’t perfect. For example, choose a rudimentary employee cyber awareness testing program rather than not have one at all. A little goes a long way.
- Build a “Team of Teams” – Scale economies are real in cybersecurity. For example, it is very difficult for any of our customers to maintain the process disciplines and manage all the moving parts needed for cyber protection and preparedness. That’s why we have amassed a team of experts and partners that offer a well-rounded level of expertise and services. We can spread the cost of best-in-class solutions over many. Individual companies can’t. Key buzz words: collaborative consumption, economies of skill and scale, SOC2 Type 2.
Overall, the IT community is making progress on cybersecurity. The bad guys still have the upper hand I think, but the gap is closing. Use these three rules to optimize your cybersecurity program and you’ll keep ahead of the game.
Sr. Vice President
Fully Managed by TELUS Business
P.S. We recently held a cybersecurity webinar that discussed this and more. Lots of good info. Get access to the recording here
. You’ll be glad you did.