[BreachExchange] Cost-Saving Strategies for Cyber Security Implementation

[Audrey McNeil]

https://hakin9.org/cost-saving-strategies-cyber-security-implementation/

Cyber security has never been more important. With recent data breaches
impacting government’s, credit agencies, banks, and businesses, security
issues are at the forefront of national conversations.

Security breaches damage business reputations and cost millions. In fact,
the average cost of a data breach is $1.3 million for enterprises and $117K
for small and medium-sized businesses.  Those kinds of costs can cripple
and even collapse the most thriving of businesses.

Just because cyber security is important doesn’t mean it’s easy or cheap to
implement. In fact, implementing proper cyber security protocols can be
confusing and difficult without detailed planning and strategy.

It can also feel cost prohibitive to implement far-reaching security
protocols.

Here, we’ll consider a few cost-saving strategies for cyber security
implementation that will help you shore up your security without breaking
the bank.

Create a Plan

The first and most important step in implementing cyber security is to
create a plan. Creating a strategy will help you determine which aspects of
your business are secure and which areas require greater attention.

The best way to get started is to take inventory of the data your business
creates, stores, and protects. Determining who has access to sensitive
data, how it is stored and handled, and other data-storage related
information will help you understand which aspects of your business are at
risk.

Understanding infrastructure shortcomings will enable your firm to invest
in areas that improve your security.

Not sure how to start your cyber security planning? The FCC is an
invaluable resource that can help you get started.

Engage With Experts

A major component of cyber security planning should be consultation with
experts. Security experts can help you identify at-risk areas of your
infrastructure. What’s more, cyber security experts can recommend proper
software and hardware upgrades as well as best practices for staff.

Experts can help you strategize the most effective cyber security solutions
for your firm. From employee training, to risk assessments, to cloud
migration, to software updates—cyber security experts will help you
properly identify what works, what doesn’t, and how to improve your
security protocols. Investing in expert help early can help you avoid
costly errors later.

Create a Culture of Communication

Clear channels of communication are a cost-effective way to fight security
breaches. According to research, more than half of cyber security experts
feel their organizations’ security protocols don’t offer proper protection
from cyber attacks.

What’s truly concerning is that those same professionals claim that
executives in their firms fail to appreciate the value of proper security
controls. In other words, executives aren’t listening to the clarion calls
of their cyber security experts.

Setting up clear, consistent channels of communication between cyber
security experts and those in charge can help avoid costly security
breaches. Scheduling regular meetings between management, executives, and
security experts creates an open dialogue that will help cut costs and
improve security measures.

Training, Training, and More Training

Many security breaches are caused by user error. Training employees on
cyber security best practices is a cost-effective way to avoid possible
security breaches. Risky behaviors like opening emails from unknown
senders, visiting non-work websites, downloading files onto company
computers, and other practices can put your entire system at risk.

This is especially important considering the flexibility of the modern
workplace. More than ever before, employees can work from virtually
anywhere.

This freedom can improve productivity but can also put your server
infrastructure at risk.

Ensure your staff understands the importance of following specific
behaviors to minimize possible security breaches.

Training staff on best practices is not a one-time solution. You should
employ regular training sessions with your staff to ensure best practices
are consistently followed.

Revisit and Revise

Implementing cyber security is not a one-time proposition, it’s an ongoing
strategy that requires flexibility and agility to remain effective. For
that reason you need to regularly perform risk assessments to determine
which aspects of your security protocols are working, which aspects need
more attention, and possibly which aspects need to be replaced or
eliminated.

Because security threats are constantly evolving, your security plan needs
to evolve as well. Security works best when it is proactive. Revisiting and
revising your security strategies not only ensures you employ the most
effective security protocols it can also save your firm money.

Start Now

The most effective, cost-saving strategies are the ones you employ before a
situation arises. Starting now will help you put cyber security protocols
into place that will help you minimize exposure to security breaches in the
future.

Creating a plan, engaging experts, opening communication, training staff,
and revising your strategy when necessary will help you implement
cost-effective security measures you can count on. Don’t delay, start
protecting your business assets now.
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