It’s unfortunate that Information Security still doesn’t capture a significant amount of executive attention. Just how damaging would an attack be? How would you respond to state holders? Questions like that might come and go .. until there’s an incident. Then it’s damage control time; and the amount of money that could have been spent on security is pale in comparison to the amount that will be needed to contain the fallout.
The New Business Priority
In the following article, Cybersecurity: The new business priority, PWC does an excellent job of articulating a business case for cyber security. In their article, approximately 9,600 global executives were interviewed. Of those 9.600 execs, 41% experienced a security incident in the past year. From that incident, two of the highest impacts were financial losses and brand/reputation impacts. In the survey, the executives were also asked what greatest obstacles were to improving their organization’s information security. The number one response was about resources — insufficient funding for capital expenditures.
Given the potential cost of damage control, and the likelihood of loss, doesn’t it make more financial sense to spend a little to building a strong security strategy VS. the huge amount that would be spent trying to repair the damage to your clients and reputation?
Please view the full article here: Cybersecurity: The new business priority