Every organization has a planning and budgeting cycle. Planning is what enables organizations to prepare for the future, address and manage opportunities and threats, identify and set goals, and align and mobilize the team and resources. Steve Morgan, Editor-in-Chief of Cybercrime Magazine declared that “cybercrime is the greatest threat to every company in the world, and one of the biggest problems with mankind.” Cyberattacks are among the fastest-growing crimes in the U.S., and they are increasing in size, sophistication, and cost.
There are an array of monstrous implications for every organization in regard to a cyberattack. From the obvious and immediate financial cost, business disruption, and hits to an organization’s reputation/credibility. Reputation harm costs real money. Cybercrime Ventures reports that globally, ransomware attack losses were $11.5 billion in 2019 alone! Not to mention, lost business, impacts on an organization’s credit rating, and more.
Cybercriminals lurk behind every computer, every email, every network. In addition, cyber risk is also present inside your organization in terms of system misconfigurations and user behavior that expose your data (and systems) to unnecessary risk and loss.
As leaders in your organization, you expect your team to be vigilant every day and that’s the value of continuous cybersecurity awareness training. For quick tips that will keep your cybersecurity prevention in top shape, check out these Abacode videos. Common data breaches and how to spot and address them are covered in our UNHACKED! series.
A Strategy and Cybersecurity Plan Enables You to Tackle Cyber-Anxiety Head On
While the day-to-day is vital, having a cybersecurity strategy is what enables an organization to reduce cyber-anxiety and transform cybersecurity into a competitive advantage. Uncertainty and stress over risk are among the biggest contributors to anxiety. Clarity of your current state is one of the best ways to reduce cyber-anxiety.
Regular risk assessments serve as a process to understand your current state. The findings from an assessment can be a valuable guide to creating your cybersecurity strategy. These types of assessments provide visibility into the level of security across your organization and entire technology environments.
Business leaders need visibility to make key decisions. Plus, all stakeholders, especially your customers, partners, analytics, investors, regulators, and boards expect greater visibility into your organization’s cybersecurity risk management strategy and program. And one thing we know business leaders and board members value, is visibility.
Cyberattacks are inevitable. Cybercriminals will continue to become more sophisticated. Use your planning cycle to develop and implement a cybersecurity strategy program that protects and advances your business.