Tag Archives: Choose a Reliable Cybersecurity Company

How to Measure and Justify Cybersecurity Investment and Return on Investment

How to Measure and Justify Your Cybersecurity Investment and Return on Investment (ROI)

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett

How much does your business spend on cybersecurity? As a IT admin, how do you prove to the company’s leadership you work for that they need to spend more on cybersecurity? According to an article written by Bruce Schneider, companies consider ROI a big deal, but it is challenging to calculate ROI in security.

In this article we will be talking about:

  • How to monitor and address evolving cybersecurity threats?
  • Proactive vs Reactive Cybersecurity
  • Proactive Cybersecurity Return on Investment
  • What Does Proactive Cybersecurity Involve?
  • How to manage cybersecurity and justify your cybersecurity budget
  • Valuable Cyber Defense Resources

According to Deloitte report, the average company will spend somewhere between 6% and 14% of their annual IT budget on cybersecurity. That is less than a quarter of the total amount allocated for cybersecurity in general, so that’s actually not that bad at all. On average, most companies spent around 10% of their IT budget.

Monitor and address evolving cybersecurity threats

If, for instance, you can prove to the management that spending $2000 on cybersecurity can help the company save $30000 every year, they will be happy to release the $2000. However, the problem comes when you have to prove that you need $2000 and not $1500 or any lower amount. Companies spend on threat hunting and vulnerability assessment using methods such as penetration testing. While some companies might have an in-house team, others have to hire an expert to monitor and address evolving cybersecurity threats. This is called proactive cyber defense. It seeks to identify weaknesses and address them before an attack. Preemptively identifying security weaknesses is different from reactive cybersecurity where a company waits for an attack to take any action.

Proactive vs Reactive Cybersecurity

Business leadership and decision makers are hesitant to release cybersecurity investment as they do not consider daily threats as ‘serious.’ According to an ISACA APT Awareness study, about 93.6% of respondents who took part in the study believe that APTs are only the “very serious threats.” However, the Advanced Persistence Threats (APTs) are not always advanced in the sophistication of the methods the attackers use. However, companies are under constant threats from simple, yet sophisticated hacking methods.

If a company chooses reactive approach to dealing with cybersecurity, “they sit back and wait for an attack.” When the attack happens, a data breach or a ransom can cost the company millions of dollars.

Today, companies have several defense solutions to prevent an attack. These proactive measures ready the company for an attack even when it does not happen. However, if it happens, the approach may save the company millions of dollars.



ROI is a big deal in business, but it’s a misnomer in security. Make sure your financial calculations are based on good data and sound methodologies

Proactive Cybersecurity Return on Investment

Digital threats are smarter today. Hackers can spend several months or years collecting details about your company all when you think everything is right. A proactive cybersecurity keeps you on top of these threats before they stall your business.

With proactive security services, you know what professionals you need to protect your business and how to handle an attack in case it ever happens. The approach allows you to monitor threats and addresses any weaknesses in your organization. In case of an attack, the IT department will take charge immediately to prevent loss of data.

The value of digital information continues to grow and not protecting your data may cost your company or organization a lot of money. Again, regulators require that organizations secure their data. Your business may face harsh penalties if you fail to take necessary measures in building sustainable cyber resiliency.

What Does Proactive Cybersecurity Involve?

A proactive approach seeks to prevent an attack before it happens. The company will spend money to prevent an attack that may never happen, and this is why management may be hesitant to spend on cybersecurity. However, assume you cut the cyber threat hunting budget from $4000 to $1500. This means that the IT team may not carry out all the activities they needed to protect the business. If an attack happens, the business may spend thousands or millions of dollars to recover the lost data.

Tips for Choosing a Trusted Cybersecurity Vendor and Traits to Look for In a Cybersecurity Firms

Tips for Choosing a Trusted Cybersecurity Vendor and Traits to Look for In a Cybersecurity Firms

Here is what cybersecurity experts do to secure your data:

Disk Encryption – This involves securing the hard drives through encryption. In case the organization loses physical devices, their data will be safe.
Employee Cyber Awareness Training – Employee cybersecurity awareness training keeps the team informed of current threats and the optimal cybersecurity strategy they can apply in case of an attack.
Multi-factor Authentication – Organizations need to limit access to some of the systems. There should be security levels with some of the systems only being accessible to select employees. Multi-step authentication ensures there is proper access control.
Cyber Threat Hunting – This involves approaches, such as ransomware threat hunting services, Phishing Attack Simulation, and Managed Threat Hunting among others. They seek to ensure there is no threat that can penetrate the system.
Vulnerability Scanning – Here, cyber resiliency experts scan for weaknesses in the computer systems and in other systems. There are several software programs to scan your computers and there are also antivirus programs to protect your computer.
Managed Security Operations Center – These centers create an incident response plan. They monitor threats and report any imminent threats that a company may face.

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Tracking Cybersecurity KPIs to Justify Your Cybersecurity ROI

According to a report published on PwC, only 22% of CEOs believe that there is enough risk to data security to inform their decisions. The statistics have remained true for more than ten years. As such, not all CEOs are willing to spend on proactive cybersecurity.

It is impossible to manage cybersecurity and justify your budget if you cannot measure performance. As a security professional, you need to show:

• How many times hackers have tried to access your system
• Number of unidentified devices in the organization network
• Number of devices not patched and ready for attacks
• How long it takes for security experts to detect threats that fly under your radar
• How long it takes for security experts to start working on an attack
• How long a business takes to fully handle an attack and recover from it
• How many employees are informed about cybersecurity
• Number of cybersecurity incidents reported within the business and within the industry
• Number of users in the company with administrative access
• Cloud security compliance and other security compliance statuses
• Availability of non-human traffic in the organization network
• The cost of each incident that the security team solves

With the above key performance indicators, it is easy to justify the cybersecurity budget. The idea is to show that threats can happen any time and that the company needs to be ready. With a reactive cybersecurity approach, the company will be caught unaware and data may be lost. This may lead to regulatory fines and expensive recovery of data.

Valuable Cyber Defense Resources:

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How to Choose a Cybersecurity Company to Protect your Business Infrastructure

How to Choose a Reliable Cybersecurity Company to Protect Your Business?

Tips for Selecting the Trusted Cybersecurity Company and Traits to Look for in a Cybersecurity Firms

In this era of technological advancement, we rely on the internet for business, entertainment, and personal development. When making transactions, we expose sensitive personal information online to make purchases or subscribe to the content of choice. As such, both individuals and organizations are at a high risk of cybercrime. In the aim to avoid such, it is critical to hire a trusted and reliable cybersecurity firm.

This article will be especially useful for small and mid size business owners who do not have dedicated chief information officer (CIO, CISO, vCISO) or IT administrator in staff.

In this article you will learn more about:

  • Why you should hire a reliable cybersecurity company?
  • How you can measure the reputation of a cybersecurity firm?
  • What type of cyber security services you may need?
  • How to measure cost, value and cybersecurity return on investment (ROI)
  • Importance of cyber defense vendor’s tools, knowledge and experience
  • Legal requirements and certifications
  • Valuable cyber defense resources

Why You Should Hire a Reliable Cybersecurity Company?

Whether you are an individual or a corporation, you need to protect your digital systems from hackers and malicious people. The following are reasons why you need to contract an IT security solutions company.
Protection of personal information: Cybersecurity firms safeguard the personal information of your clients and employees from malicious individuals. In the wrong hands, such information helps malicious people to steal from customers or manipulate company systems.

Ensure continuity of business operations: Lack of proper security for your systems makes your organization an easy target for hackers. Cyber-criminals can paralyze normal operations of your business or completely shut down your operations. IT security solutions firms help to avoid such risks.
Safety of employees: Workers’ productivity is better with nothing to worry about when they access the internet at work. Cybersecurity firms provide this assurance to your employees.
Protects your business reputation: Clients and employees want to associate with firms where they know their information is safe. Such inspiration leads to better productivity and better sales of products and services.

The average cost was USD 1.07 million higher in breaches where remote work was a factor in causing the breach, compared to those where remote work was not a factor.

How to Measure and Justify Your Cybersecurity Investment and Return on Investment (ROI)

How to Measure and Justify Your Cybersecurity Investment and Return on Investment (ROI)

Cybersecurity Vendors Reputation.

You can measure the reputation of a cybersecurity firm by the scorecard from the views of stakeholders. The main elements of reputation revolve around the quality of management, financial soundness, and value to the public.
A good cybersecurity company has a good track record of many successful partners and clients. It prides itself in displaying the previous clients on its website as evidence of quality service delivery. Moreover, you will notice consistency in the number of clients. If you notice many customers try different options after a particular company, you better search elsewhere. A company with a high turnover of clients signifies services below standards.
A company with a sound reputation has good reviews from previous and existing customers. Be keen to check testimonials of how the company has assisted other clients with a similar business model to yours. This action gives you insights into the knowledge, competence, and level of experience of the organization. You may decide to speak to these clients for an unbiased report about security solutions by the cybersecurity firm.

Data breach costs rose from USD 3.86 million to USD 4.24 million, the highest average total cost in the 17-year.

Type of Cybersecurity Services Rendered.

Cybersecurity firms provide a plethora of services designed to protect their clients from cyber risks. However, the type of services may vary from one company to another depending on the packages, skill sets, licensing and cybersecurity certifications.
Although services may vary, most cybersecurity companies should offer the following solutions:

  • Virtual or onsite cyber defense support
  • Backup and disaster recovery planning.
  • Threat intelligence
  • Risk assessment and management
  • Early detection and response to threats
  • Regular evaluation of the system, network, and devices
  • Firewall to protect users from accessing inappropriate content
  • Cyber security awareness training for employees such as tabletop exercise etc.

The ever-evolving world of technology means that cybersecurity firms should attract and train employees with special skills. Today, penetration testing, digital forensics, phishing attack simulation, and managed detection and response service providers are paramount skill sets.

The most common initial attack vector, compromised credentials, was responsible for 20% of breaches at an average breach cost of USD 4.37 million.

Cost, Value and Cybersecurity ROI.

While you want to keep your data safe, the cost of the cybersecurity firm matters. You do not want to spend a chunk of your company’s money on data security. Please find a list of firms you know you could work with and go through their services and costs.
Before settling and signing a contract with the firm, ensure that you have a budget. Calculate your data assets. Think about the return on investment and the value cybersecurity is offering.

Remember to secure your infrastructure before it is too late

Remember to secure your infrastructure before it is too late

Put your negotiating skills to use when you find a suitable cybersecurity firm and are unsure about meeting the service cost. Present a budget and ask them what price they are willing to charge you.
Consider their mode of payment and if they prefer bitcoin, ensure that there is bitcoin payment protection. You contract a forensic data department to provide an incident response retainer to provide ransomware response in case you cannot meet the cost.

Tools Knowledge and Experience.

When hiring a new firm or one that has been in the industry for a while, tools and knowledgeable staff are essential needs, and they are indicators that the company can offer various services.
It also gives you a rough estimate of the company’s cost. There are essentials that a cybersecurity firm should have:

Having these resources will enable a firm to meet the requirements of the client. The services will be efficient since they do not waste time looking more staff or outsourcing when rendering cyber services. Experienced cyber security professionals enable the company to conduct emergency cybersecurity incident response without delay.

Learn How LA-Networks.com can help your business qualify for cybersecurity insurance?

Legal Requirements and Certifications.

The certification is an award after completion of study and tests. Certification provides proof that the staff in the firm meets the industry-standard credentials or qualifications that pertain to cybersecurity.
Certification justifies the cost that the individual or the company asks for as compensation for services rendered. It also shows that the firm is willing to follow through and complete the assigned duties. Below good example how cybersecurity vendor proudly show earned certifications:

Ransomware Attacks is quickly becoming the attack you don’t want to experience. 55% of small businesses pay hackers the ransom.

Industry-specific legal requirements enhance improved operations and safety during work since they know the work procedures required by the governing body. Following cyber security policies also keeps you away from rubbing shoulders with the authorities.
It is easier to deal with a firm that practices cloud security compliance. In case of failure in cyber incident response, it is easier to solve the issue with a firm that follows regulations and has the legal and certification requirements if you need compensation.

Customer Service
The customer service department is an essential part of the company as it determines whether a client leaves or stays. When looking for a cybersecurity firm to work with, ensure good customer relations with you and other clients.
A good firm with excellent customer service will have a cyber incident response plan when you call. They should be able to attend to you and provide solutions to your problem. Customer care that prioritizes the needs of its customers is reliable.

According to Accenture’s Cost of Cybercrime Study, 43% of cyberattacks are aimed at small businesses, but only 14% are prepared to defend themselves.

No Conflict of Interest
When choosing a cyber security firm, ensure that they are not preying on your fears. Look for a cyber security provider who will act as a gate between you and the malicious parties. Ensure that your provider actively engages in cyber security threat hunting from third parties.

When It Comes To Cybersecurity Keeping Threat Actors Away Crucial for Business Performance and Reputation

When It Comes To Cybersecurity Keeping Threat Actors Away Crucial for Business Performance and Reputation

If a company is willing to sell your competitors information about your company, they put you at risk of attack. Your company will be prone to unhealthy competition, which may render you out of the market. Ensure that the firm is willing to keep the company’s integrity intact.

According to this report, the average company will spend somewhere between 6% and 14% of their annual IT budget on cybersecurity. On average, most companies spent around 10% of their IT budget.

Choosing a Cybersecurity Firm – Examining a Business That Offers Proactive & Reactive Cyber Security Services.

While you are searching for a cybersecurity firm, you can evaluate a company that offers customizable services, cutting-edge encryption, antivirus software and excellent customer service. If the company detects a security breach, the business can quickly implement a plan that will minimize the damage, protect the data, enhance the security of your database and prevent additional breaches.
Cyber security is not all about big companies but also a necessity for small businesses and individuals. When looking for a cybersecurity vendor for your business, ensure that the cybersecurity firm has the above factors.

Valuable Cyber Defense Resources:

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