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Are You Budgeting Enough for Security?

Are You Budgeting Enough for Security?

Cyberattacks have caused many millions of dollars’ worth of damage to businesses over the past several years, so it makes sense that your business should invest in its cybersecurity to mitigate these damages. That said, there is only so much you can invest into your cybersecurity budget, as you have to factor in other parts of your business, too. Today, we want to share with you three ways you can invest in cybersecurity initiatives that won’t completely break your bank.

Many organizations hire a CISO, or Chief Information Security Officer, to handle the management of their cybersecurity budget and the general security management for IT resources. This individual might operate under the CIO, but they have the chief responsibility to ensure that the cybersecurity budget is allocated as the business sees fit. Here are four tips you should keep in mind when finding your CISO.

Identifying Your Organization’s Digital Strengths and Weaknesses

Most IT implementations are rooted in an understanding of your infrastructure’s strengths and weaknesses. In order to get the most out of your IT capital, it helps to know just what needs to be addressed and where you can benefit the most. You might be shocked by how much an audit can help with this process. Some of the common issues suffered by small businesses include:

  • Business continuity plans: Businesses don’t always have contingency plans in place for the worst-case scenarios, especially for their IT systems. If they’re not careful, downtime could become a serious problem in the event of a disaster.
  • Phishing and cybersecurity training: With the threat landscape constantly changing, you’ll want to make training your staff a priority. Phishing attacks are the top way malware spreads across systems.
  • Cybersecurity insurance: Cybersecurity insurance does exist, and it can help to protect against data loss and cyberattacks.

A comprehensive security audit can help your business address the many challenges it might face moving forward.

Aligning Your Security to Support Your Business

Certain investments might be practical, but they also need to suit your business’ specific needs. Security spending is something that can be justified as long as risks can be managed appropriately. To this end, you should invest in solutions that provide a return on your investment over the long term such as risk mitigation, regulatory compliance, and solutions that also boost productivity and efficiency, such as automation. This can justify the expenses associated with automated security processes.

Onboard Solid Contributors

The final piece of the puzzle involves building a strategy that requires investments be made in your IT infrastructure. Whether you are trying to hire new employees or bring in professionals to help train your existing workforce, investing in the people power of your business will always be fruitful. The more your employees understand about the role they play in securing your business, the easier it will be to keep your organization safe.

Network security doesn’t have to be challenging. If you make informed decisions about your security investments, you can remain confident that your organization will be making the right decisions moving forward. To learn more about how Thrive can fit into your IT decision-making process, reach out to our professional technicians and consultants.