et’s face it, cybercrime is constantly evolving, and no business is immune from these vicious attacks. Protecting businesses of today requires executives to take a strategic, and proactive approach that involves understanding relevant cyber threats and how these threats can impact operations.
How Do Cybersecurity Advisors enable your business?
As digital transformation continues to touch every part of a business, cybersecurity consulting firms have become a valuable resource to companies across all industry verticals. We also recognize that not every cybersecurity firm, can provide you with the right resources, with the right expertise, at the right time. As you search for that next trusted party to help you on your security journey, here are a few things to consider: Many organizations lack a dedicated security strategist, otherwise known as a Chief Information Security Officer (CISO). This individual typically serves as a point person to guide, advise, and transform business initiatives focused on better protecting the business. As such businesses routinely search for external expertise, who can help them baseline their security across people, process and technology and provide a prioritize way forward. External support in these activities not only saves money up front but provides business leaders with expertise on how to effectively navigate the cyber threats of today. In fact, external CISO support (typically referred to a fractionally or vCISO), costs on average, half the price as the same FTE. Not to mention the associated time and money associated with burdensome onboarding processes.
So how are the benefits of having cybersecurity advisor or vCISO realized? Let’s have a look:
Develop a Right-Size Strategy with The Right Partner
If done the right way, an independent cybersecurity consulting providing vCISO services, won’t sell you overpriced cyber tools that you can’t afford or can’t effectively utilize. Instead, they will evaluate the options, bearing in mind your budget, business structure, objectives, and ability to safeguard against relevant cyberattacks. The right cybersecurity advisor will develop a prioritized action plan alongside recommended tool options, so that your business knows where its headed and how to get there. Whether its security compliance, cyber insurance or establishing a board oversight, your cybersecurity partner should walk beside you in your journey.
Identify and Address Business Risks, Previously Undiscovered
Approximately 64 percent of businesses have experienced at least one web-based attack, according to Fundera. Even more astonishing is that small to mid-size organizations spend an average of $7.68 million per incident. Having a trusted advisor by your side, can help you proactively identify, cyber risk before they become incidents; such as identifying the lack of Multi-Factor Authentication (MFA) on business-critical systems.
Ensure Client and Internal Data Is Safeguarded and Recoverable
Technology alone is not the surefire solution for protecting your business. You should be able to answer critical questions like what data you have, what safeguards are in place, and who has access to your systems? By working with a trusted cybersecurity consulting firm, businesses can establish a data governance strategy to answer these questions and more. Thus, giving you piece of mind that you know where your data lives.
But controlling your data is just one component of data governance. What happens when your online service vendor is experience an outage, or you receive a message ‘corrupt file, cannot open’. Not to worry, as your cybersecurity partner working alongside your existing IT team, will formulate an effective backup strategy to implement. Thus, ensuring that you have access to data you need, at the right time, to make informed business decisions.
Thwart Phishing Attacks
Phishing is a common type of social engineering attack that cybercriminals use to steal business data, such as login credentials, credit card numbers, or even business documents. During a phishing attack, a hacker may masquerade as a trusted entity to trick the victim into opening a text message, email, or other online correspondence. Their goal here is to convince you, the end users, to provide something they want.
An effective Cybersecurity advisory team can work with you to reduce the likelihood of these attacks. Through a combination of tools and providing awareness on how to spot/report activity, you can reduce your likelihood of being the next victim.
Avoid Potential Fines from Lost or Compromised Data
Mistakes happen, whether intended or unintended. Unfortunately, some mistakes cost real headaches and financial loses. With cyber regulations tightening on all markets, regulators are cracking down on security breaches with increasing fines and penalties.
By proactively implementing security best practices. you can reduce the risk that your business will face these steep penalties. A trusted cybersecurity partner can help you identify appropriate safeguards within your industry, so you can stay ahead of the cyber threat.
Effectively Train and Inform Employees on Cyber Threats
The best offense is a good defense. Properly trained employees are an organization’s best defense to scoring ‘wins’ against cyber criminals. It is essential for companies to educate their employees on how to identify and avoid potential cyber threats that could put the business at risk. The right cybersecurity advisor can help train your employees on ways to stay vigilant to defense against cybercrime.
Save Costs on Hiring Cybersecurity Staff
These days, cybersecurity professionals are in high demand. It is expensive to hire and retain employees to work in an internal cybersecurity role. Outsourcing to trusted third-party cybersecurity firm is a cost-effective option for businesses that require prioritized cybersecurity expertise but cannot afford, or don’t need a full-time team member. An independent cybersecurity advisory firm can help you identify what roles and expertise your business needs, and rapidly deploy those resources when needed.
Curious about how cybersecurity support can help your business move the need? We’d love to have a chat.