Do you think it is a good idea saving money on Cybersecurity? Think again!
The true savings of cybersecurity
Within every industry competition continues to ramp up, driving down hard on margins. As a company leader, what do you focus your spending on…research and development, sales team, increasing operations, etc.?
Top of mind is rarely security, compliance or IT in general. It almost gets just enough attention and budget to seemingly keep afloat, and rarely not a penny more. Understandably, it’s hard to justify spending on a cost center that doesn’t directly increase net income…or so it may seem.
Many high profile companies have been held ransomed to successful attacks in recent years. Ranging from Target, Sony, to even high profile banks such as JPMorgan Chase. All it takes is one time for a cyber attacker to be lucky in penetrating one vulnerability within and organization and pry their way into the core of your business and financials.
Although cybersecurity isn’t a revenue builder within your company, Target, Sony and every other company that has incurred the wrath of cybersecurity hackers had a significant decreased in their bottom line after dealing with the aftermath. For example, in 2013 Target approximately assumed $145 million dollars of breach-related expenses. Not accounting for any loss of sales in the future due to the loss of faith that their customer base may have in Target. The average cost for resolving a single cyber-attack is now reaching $1.6 million dollars.
Specific and meangiful solutions for SMB?
Answers to security and solutions to the cost do exist. Gratia-Inc. starts with baseline understanding of your company’s security and compliance, assessing weaknesses and vulnerabilities. From there Gratia works hand in hand with your business in building out the most appropriate, cost-effective security implementation specifically for your company. The Gratia way is focused on the people, the process and the technology. Building out a strong and holistic approach built on what serves you and your customers in the best manner.