Cybersecurity Is Risk and Needs to be Risk Only

Cybersecurity Is Risk and Needs to be Risk Only

When it comes to operating a business, in this cyber world, a business thinks in terms of money and risk in the same sentence. That’s the comparison model.

In other words, a business tends to think in terms of outcome and cost. If a cyber security attack costs less than the requirements to prevent the cybersecurity attack, to begin with, then the math makes sense to do nothing or as little as possible.

That can be scary but is an honest proposition.

The reality is that it works both ways. If a cybersecurity incident costs more than the ability to prevent it, then you bet it’s a cost and investment that’s worthwhile. It’s a simple math equation, right?

Businesses think in terms of money in and money out. Is that the best approach for security?

Is Cybersecurity Math About Profit or Sustainability?

Businesses are constantly looking at what it’s costing them money-wise and what’s bringing in money, overall, for the business. Money in, verse money out. We all know that from a cost perspective, cybersecurity readiness is and can be a bottomless pit.

The internet has really helped businesses understand the potential of an online world, from a growth perceptive, and the ease of transactions across companies on a global scale. We live in a world where everything can be and is purchased online.

What’s missing in some cases is the security behind that love affair with the online world. It’s sometimes transparent and in some cases a lot less secure than we imagine. Often times cybersecurity gets lost in translation or is only seen in the fine print.

There are two ways to look at this problem.

  1. Cybersecurity is background noise that has to be there but isn’t the main event.
  2. Cybersecurity is the very reason and ability that the fight can take place and needs to be at the center of the ring.

There is only one way to think about cybersecurity, or at least it needs to be. That’s whether or not a business is prepared to be proactive or reactive.

We know that there are many security operations centers (SOCs) that take cybersecurity services seriously and professionally. However, it doesn’t exist in all Cyesecurity Service Providers. Keep that in mind.

That begin said, as a business owner, or if you’re the CEO or CTO – you need to stand up and make sure it’s a priority!

Cybersecurity need to be the Elephant in the room at all times. Otherwise you’re never going to forget you missed it.

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How do you know if a SOC’s Services (Security Operations Center) are proactive or reactive and if they spend the right money on the right priority?

Top 5 Questions to Answer a SOC’s Priorities on Cybersecurity

It’s important that you work with a service provider that not only protects but also protects themselves. They need to have the same priority on security as you do, otherwise, it won’t make a difference.

  1. Does your service provider perform its own security and risk assessment and how often does it do so?  That should be at least done yearly. Preferable twice a year. Technology changes a lot in a year for an MSP (Managed Service Provider) and or an MSSP (Managed Security Service Providers).

    Does it also use a third party to do an independent assessment? Is it possible to understand the results of the last test and when was it taken?

  2. Every business should have an incident response plan (IRP). Your MSP (Managed Service Provider) should have one. Ask for a copy of it. You need to know how they respond to a cybersecurity incident so that if it happens to you, you know they can manage it. How they manage it can determine if they can manage yours, obviously.

  3. Do they outsource any of the cybersecurity processes, procedures, monitoring, response, evaluation, or anything in regard to the service they’re supposed to be providing you? Outsourcing is always suspect and must be scrutinized.

    Companies outsource at times because they don’t have the expertise or because it’s cheaper. That can be a problem either way.

  4. Ask for a track record of any incidents with them or their clients. Not to purely judge but it’s good to know how they handle past events. The best predictor is the past.

  5. Ensure that as a client you NEVER allow the IT services to disclose that you’re one of their clients. Anonymity has its security benefits. Especially if you’re using their network, their services, and their data centers. We see Service Providers in Toronto disclose their client lists on their websites – this is a terrible idea.

Protect yourself and your company by asking the right questions to ensure their security services are equal to your expectations.

If you’re looking for further information on risk, money in, verse money out, and how to protect yourself effectively without blowing your yearly IT budget in one shot, contact us for more information. We purposely included many cybersecurity services, like IRP, EDR, MDR, BCP, and DR, right into our default client support umbrella package.

Stay Cyber safe out there.

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