Today, thebusiness environment isconstantly evolving towards digital, but there is one obstacle that is still holding back the growth of organizations: cybersecurity.
The steadily rising cost of data breaches, with average losses of up to $4.35 million by 2022, has made cyber attacks a top concern for business owners. For this reason, more and more business leaders are committed to investing in cybersecurity and privacy solutions to protect their companies from potential threats.
Increased Cybersecurity Awareness
While this is good news for organizations that have already implemented modern IT cybersecurity solutions, this may be a concern for those that are still investigating and have not made a decision. If you find yourself in this situation, it’s important to ask yourself the right questions before considering any cybersecurity solution.
IMPORTANT QUESTIONS TO ASK YOURSELF
1. What is the current state of my company’s cybersecurity?
Knowing the current state of your company is essential and will prevent you from getting involved in extremely expensive solutions that do not really meet your real needs and only satisfy the vendor’s needs.
I constantly see companies requesting EDR services when they do not even have the most basic controls that every organization should have.
These are some of the issues you should identify and resolve before incorporating a solution in your organization:
- Do I have an up-to-date inventory of all devices connected and not connected to my network?
- Do I have an inventory of Software or Programs installed on all devices belonging to my network, including versions, licenses, update status?
- Am I aware of what are the most valuable assets for my organization? Consider that the loss of this asset may generate a negative impact for your company, such as loss of clients, reputation, projects, etc.
- Do I have any Antimalware/Antivirus solution (NOT homemade and Original), the use of pirated software increases the risk of being a victim of cybercrime, pirated software contains malware inside.
- Am I aware of incoming and outgoing communications on my network, and how do I control who can and cannot access it?
- Do I have trained personnel with time availability to maintain and manage new solutions, and I don’t mean the all-in-one, better known as “IT Administrator” #todologo.
- Are your employees or users aware of existing cybersecurity risks?
Since we know where we are…
If the answer to all of the above questions was, I HAVE NO IDEA!Don’t worry, it’s an excellent starting point and indicates that you need the support of a consultant to help you build a culture of cybersecurity from the ground up, including an IT security risk assessment to identify weaknesses and potential threats facing your organization.
What specific cybersecurity needs does my organization have?
The previous point allowed us to identify what our status is, and it is something that we must resolve as soon as possible. If we do not know how we are doing, we do not have a solid foundation and we do not know which assets to protect, it will be difficult for you to know what your needs are.
Some of the specific IT cybersecurity needs that might be identified during the assessment may include:
- Protection of confidential data: if your organization handles confidential customer information or business data, it is important to ensure that this data is adequately protected against possible breaches or leaks.
- Network security: Ensuring the security of your organization’s network is essential to prevent external attacks and the spread of malware, which can affect productivity and the availability of IT resources.
- Malware protection: Antivirus and Antimalware solutions may be necessary to protect your organization’s IT infrastructure against viruses and other types of malware that can affect network performance and data security.
- Access control: Adequate access control is necessary to protect sensitive data and ensure that only authorized persons have access to it.
- Security monitoring: the implementation of security monitoring systems may be necessary to detect possible threats and act accordingly.
It is critical to keep in mind that each organization’s specific IT cybersecurity needs may vary depending on its size, industry and scope of operations. Therefore, it is essential to conduct a customized IT security risk assessment to identify your organization’s specific cybersecurity needs.
3. What is the budget available to invest in cybersecurity solutions?
We know that this is one of the most complicated parts: how do we request a budget from top management, how do we justify it, and how do we know how to respond to the classic objections?
The first thing to take into account in this situation is the value of the assets we are seeking to protect and therefore it is important that points 1 and 2 are very clear, since the investment in security controls must be proportional to the value of the asset.
What does this mean?
An example could be the case of a company that has an online store with an estimated value of $5 million. The online store is a critical asset for the company, as it is the main sales and revenue generation channel.
In this case, a budget proportional to the value of the asset should be allocated to protect the online store from potential cyber threats. One could allocate, for example, 10% of the estimated value of the online store as a cybersecurity budget, i.e. $500,000.
With this budget, the company could invest in appropriate cybersecurity solutions, such as intrusion detection systems, firewalls, vulnerability analysis, among others. You could also hire specialized cybersecurity personnel or outsource these services to specialized providers.
Allocating a budget proportional to the value of the asset will allow the company to protect its online store adequately, minimizing the associated risks and ensuring business continuity.
4. What do cybersecurity solutions protect against?
When evaluating potential suppliers, it is best to understand exactly what you are getting from them. When reviewing your options, consider your company’s needs and the following thoughts:
- Do cybersecurity solutions incorporate basic or modern tools?
- Do they protect against malware such as Ransomware or malicious techniques such as phishing?
- What about the use of firewall or intrusion detection?
Ideally, these cybersecurity products should use a combination of these protection measures. However, each company needs a unique combination of remedies. Understanding what you need and what you want to achieve with your Cybersecurity products is really the first step in making a decision.
How easy is it to implement and use the cybersecurity solution?
It is important to consider several factors, such as the complexity of the solution, the technical expertise of your team and the level of support provided by the solution provider. Some key considerations include:
- Ease of installation: What is the installation process for the IT cybersecurity solution? Is a clear and easy to follow installation guide provided?
- User experience: Is the cybersecurity solution easy for users to use and navigate? Do you require special training to understand and effectively use the solution?
- Integration with existing infrastructure: Is the IT cybersecurity solution compatible with your organization’s existing infrastructure? Does it integrate easily with other security solutions already in place?
- Technical support: Does the IT cybersecurity solution provider offer adequate technical support and assistance? Is it easy to communicate with technical support and get quick answers to questions and problems?
- Upgrades and maintenance: How are upgrades and maintenance of the IT cybersecurity solution handled? Does the solution provider provide regular updates to keep the solution current and effective against the latest security threats?
It is important to carefully evaluate the ease of implementation and use of the IT cybersecurity solution before making a decision. An easy-to-install and easy-to-use IT cybersecurity solution can save time and effort in implementation, minimize training costs, and reduce the possibility of user errors that can affect the security of the organization.
6. How will the IT cybersecurity solution affect the performance of my system or network?
The reality is that it is quite normal for implementing cybersecurity solutions to impact in some way the performance of our network or even the functions of our collaborators; however, it is necessary to find a middle ground between security and efficiency. Therefore, it is useful to consider the following points:
- Performance impact: Ask it to provide you with specific data, such as latency, bandwidth and response time measurements, in the case of network or host controls. However, in the case of EndPoint Security or Antimalware solutions, the CPU and memory resources of the client’s computer may be affected during scanning, so we must choose tools that do not greatly hinder the work of our computer.
- Solution configuration: It is important to ensure that the solution is properly configured to minimize performance impact.
- Performance testing: You can perform performance tests on your system or network before and after implementing the solution. This will help you assess the performance impact of the solution and identify any issues that need to be addressed.
- Scalability: Make sure the solution is scalable to accommodate the future growth of your organization. If the solution is not scalable, it can have a negative impact on the performance of your system or network as the load increases.
- Compatibility: Verify the compatibility of the solution with other systems or applications that may be in use. It is crucial to ensure that the solution does not cause conflicts with other systems or applications in your IT environment.
Does the cybersecurity solution comply with cybersecurity regulations and standards relevant to my industry?
If for some reason by industry regulations our entire environment must be 100% isolated from the Internet, it is possible that a cloud-based solution will end up being a big problem, therefore, do not lose sight of this point before making the investment.
Accordingly, you should consider the following points:
- Research relevant regulations and standards: Research cybersecurity regulations and standards relevant to your industry, such as HIPAA, PCI-DSS, ISO 27001, GDPR, etc. Make sure you know the specific laws and regulations that apply to your organization.
- IT cybersecurity solution evaluation: Evaluate whether the cybersecurity solution you are considering complies with the regulations and standards relevant to your industry.
- Certifications and audits: Check whether the cybersecurity solution has been certified or audited by independent third parties. This can provide greater confidence in the solution’s ability to comply with these regulations and standards.
What is the reputation of the IT cybersecurity solution in the market and has it been tested in real situations?
To answer these questions we must consider the following:
- Research the vendor: Search online for information about the vendor’s reputation, track record and experience in providing cybersecurity solutions.
- Solution evaluation: Review the documentation provided by the vendor for information on the effectiveness of the solution in preventing threats and how it has been tested in real-world situations.
- Feedback from other users: This can give you an idea of how the solution has been received in the market and its effectiveness in real situations.
- References and case studies: Ask the vendor for references and case studies from customers who have used the cybersecurity solution in real situations. This can give you an idea of how the solution has worked for other customers and whether it has met their expectations.
9. What is the after-sales support like?
This point is one of the most important, because there are cases that after the sale is made, the deal with the supplier cools down and literally now it is the customers who chase the seller, which can be detrimental and in some cases generate annoyance towards the solution and not the supplier.
In the same way that you ask for references from customers who have used the solution, ask for references from the same customers, about the treatment or support of the supplier, once the solution has been implemented.
CONCLUSIONS
Cybersecurity is a growing challenge for businesses, and the cost of data breaches continues to rise year after year. To protect against these attacks, companies should carefully consider the cybersecurity solutions available, including their ease of implementation and use, compatibility with regulations and industry standards, effectiveness in real-world situations, as well as limitations and possible scenarios in which they may not be effective. While no cybersecurity solution is foolproof, implementing a well-designed solution and taking additional measures can significantly reduce the risk of cyber attacks and protect the organization’s critical data. Investing in cybersecurity is crucial to a company’s long-term growth and security.