Hit or myth? Understanding the true costs and impact of cybersecurity programs

Companies are using all kinds of sophisticated
technologies to secure critical business assets. But we’ve found the most important element
in any cybersecurity program is singular … it’s trust. Without trust, between the C-suite and IT,
common cybersecurity myths become misconceptions… and misconceptions expose companies to risk. Let’s separate the four core myths from the facts. Myth 1 – all assets in the organization must be protected the same way. The fact is that a strong cybersecurity strategy prioritizes assets, and then determines the strength of protection required at each level. High value assets receive high level security. Myth 2 – the more we spend, the more secure we will be. In fact there’s no direct correlation between spending on cybersecurity and digital resilience. Instead of simply throwing money at the problem, business and IT leaders must reach agreement on the costs and impact of the cybersecurity program, then develop a clear and consistent strategy for funding. Myth 3 – external hackers pose the biggest threat. Actually, 45% of data breaches come from insiders. Because employees are the first line of defense, they must be trained to say something, if they see something suspicious. Myth 4 – the more advanced our technology, the more secure we are. In reality more than 60% of cyberattacks use simple tactics such as phishing emails. Yes, companies must explore advanced technologies, but if they don’t understand or manage them properly, they create inefficiencies and increase exposure to threats. Make no mistake, the time to
address cybersecurity is now. Those that rise to the challenge, will strengthen the bonds of trust between the C-suite and I.T. This trust will in turn underwrite the resilience companies need to withstand cyber threats, both now … and into the future.

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