CHALLENGE: Funding Cybersecurity Initiatives
Establishing an ideal level of budget, board support, and investor buy-in to ensure properly funded cybersecurity initiatives.
Your board members and investors expect you to act with prudence and diligence to protect your company from cyberthreats, but often lack the necessary context for understanding how targeted cybersecurity funding mitigates risk.
Failing to fully grasp the extreme risks involved with insufficient cyberthreat protection, especially those that breach sensitive data and target company funds, company dollars are unnecessarily diverted away from cybersecurity or spent on insufficient quick fixes, leaving the company open to attack and security breaches. These breaches not only cause massive disruption, but they are also exceedingly expensive. The global average cost of a cybersecurity breach in 2019 was a staggering $3.92 million.
The fight against ransomware is no longer just about protecting sensitive data. It’s about extortion. The ransomware “industry” generates billions of dollars for cybercriminals who randomly search for vulnerabilities, using phishing emails and other scams for fraudulent access to sensitive data. Ransomware is constantly evolving and very tricky, often remaining undetected while malicious actors determine just how much money they can extort.
Compounding the problem, CFOs and CEOs often assume that simple anti-virus tools or an anti-malware comprehensively protects the company’s private data. In most cases, this is a costly assumption. Running this software alone, without continually configuring, deploying, implementing, and monitoring, results in inadequate threat protection, unnecessary risk, and expensive breaches. A multi layered cyberdefense approach is necessary to secure your enterprise. A tool alone will not protect you.
Knowing your risks is essential. Taking proper action to avoid a security catastrophe is paramount.
Knowing that CFOs and CEOs are required to show that cybersecurity money was wisely spent and properly allocated, ExactlyIT provides the research and data you need to justify the cybersecurity decisions you make.
We understand the inherent risks in running a business. We’re also aware that due diligence, mitigation, and cost effective security solutions are fundamental to managing those risks. From the data necessary for operational decision-making, to the required nuts and bolts software expertise, ExactlyIT knows cybersecurity inside and out. Adequately protecting your business takes work, so let us do the work for you.
Our job begins with a thorough assessment of your cybersecurity profile. Cybersecurity is not uniform – every scenario is unique and specific to certain operations. ExactlyIT’s Information Security Risk Assessment will evaluate your particular threat landscape and measure your cybersecurity program effectiveness based on the NIST Cybersecurity Framework Alignment. This provides us with the information necessary to make recommendations based on your company’s critical assets and vulnerabilities. In addition, we’ll draw up concise roadmaps for every stage of the cyberthreat lifecycle, tailored for your organization.
Does your team have the expertise to properly configure, deploy, implement, and monitor your deployed security tools? Beyond the tools, is your company able to implement a cybersecurity program that consists of governance, access controls, data loss protection, risk analysis, security policies, and more?
Depending on the size of the enterprise, a properly executed cybersecurity program can take up to two years to establish and continually evolve to adapt to the ever-changing threat landscape. Cybercriminal activity is constant and requires multiple shifts to protect your enterprise. This is a challenge given the need to make a significant investment in human capital while negotiating the industry shortage of qualified cybersecurity professionals.
It’s a matter of trust and verify. CFOs and CEOs need to show evidence of making prudent and effective decisions pertaining to security tools and policy efficacy. Your company may have passed its audits, but that does not mean it is secure. A well-developed cybersecurity program continually tests to ensure that appropriate controls and tools have been implemented correctly.
ExactlyIT’s proactive System Operations Center (SOC) is expertly managed 24/7, providing continuous forensics and threat eradication. A Global Security Operations Center based on the U.S. Federal Government’s recommended security requirements as documented in NIST 800-171 R2, our SOC follows the Department of Defense’s Cybersecurity Maturity Model Certification (CMMC) framework. ExactlyIT’s SOC personnel are informed by – and proficient in – Certified Information Systems Security Professional (CISSP) requirements.
Why ExactlyIT ?
There is inherent risk in doing business in a highly connected, digital world, and a critical aspect of cybersecurity is the need to manage your risk per dollar spent. By determining appropriate risk management based on your current resources, ExactlyIT assesses your risk and provides quick solutions to keep you on budget.
Smaller companies are at as much risk – often more so – as higher value targets. A single ransomware attack can disable operations and potentially put them out of business. Agile and collaborative, we’ll adjust to you.
ExactlyIT eliminates vendor “lock-in” by working with multiple security technologies to stay current with security best practices and the latest threat intelligence. We provide the right layered solutions for customers by focusing on delivering a service, not just deploying tools. We deliver the precise cybersecurity services the customer needs, based on demonstrated risk. ExactlyIT is a strategic partner that integrates our SOC into the customer’s existing cybersecurity team.
Let ExactlyIT evaluate your cybersecurity profile so you can justify the funding necessary for appropriate threat protection. Understanding your security posture and performance will result in your security dollars making the greatest impact in exactly the right places. Always ready to protect your brand and secure your customer information, ExactlyIT’s flexible service is exactly what you need, Exactly when you need IT.
CEOs and CFOs: How well do you know your cybersecurity risk profiles? Can you honestly and confidently tell your shareholders that your business is secure?
Let us help you better understand your business to justify your cybersecurity spend and protect your company brand and customer information from ransomware and damage due to breaches.