Cybersecurity is consistently gaining attention for companies of all sizes. An encouraging trend we’re seeing is that companies are increasingly committing to cybersecurity proactively, even before they have a product or revenue stream. They are baking in cybersecurity at the conception stage to create a huge competitive advantage.
The old way of doing business
Too often companies begin by crafting their business plans, building out internal infrastructure and procedures, and going to market, all before giving a thought to their cybersecurity posture. Deciding to implement digital security isn’t something businesses can afford to address further down the runway. The functional implications and monetary effects of a security breach can be deadly to any company, especially one that is still in its infancy.
The consideration and development of a holistic cybersecurity plan is a necessary undertaking from day one.
Two questions – or skepticisms – a business owner might address with early adoption of security might be:
#1 — Isn’t cybersecurity just like insurance? Something that is paid for, but doesn’t really provide any value unless an incident occurs?
First off, an investment into cybersecurity doesn’t follow an insurance protection model. When a business invests in its security architecture and practices, it is receiving direct value which drives revenue creation and protection.
Cybersecurity services are working 24/7 to monitor systems, stop potential attacks, and identify weaknesses. These proactive measures are the strongest line of defense against an adverse incident, and there is an exponential savings in investing proactively in security, rather than reactively. Additionally, consumers are increasingly choosing vendors that have demonstrated a commitment to cybersecurity, and moving away from those that show they are unable to protect their customer’s data.
#2 — I can just acquire cybersecurity services if my company ever faces a security breach…
It is not a question if a business will be targeted by a cyberattack…but a matter of when.
Businesses, both big and small, are in the crosshairs of cybercriminals. In 2020, the Internet Crime Complaint Center saw a 69 percent increase in attacks compared to the previous year. What is more concerning is not the frequency, but the sophistication of these attacks — thanks to the rise in new technologies like artificial intelligence, as well as the organization of criminals due to the multitude of ransomware payments that have been made in previous years.
A report by IBM calculates that on average it takes roughly 280 days for a data breach to be discovered and contained. By that point, a company could incur significant data loss leading to insurmountable financial problems and reputation damage.
Seeing cybersecurity investment as a situational solution is shortsighted and potentially devastating.
The new (and safest) way of doing business
The good news is that we’re seeing an encouraging trend with companies that are hiring firms like CDG to secure their SDLC before they even have a product ready. More and more businesses are recognizing that security investment is a differentiating factor and can create positive revenue. What was once only the concern of CISOs and CIOs has also become a main point of attention for CFOs who see that security posture is a tool to protect assets, grow profits, and secure consumer confidence.
A few advantages of Pre-Product security commitment:
- Security baked in to the SDLC minimizes security debt
- The creation of a “security-first” culture means everyone understands the commitment to security from day one
- Easier third-party risk management compliance – there is no longer a scramble when a potentially large client hands you a risk questionnaire
- Confidence in growth without the fear associated with the question, “is our product secure enough?”
Ready to commit to cybersecurity?
If you’re looking for more guidance on how to move your cybersecurity program forward, CDG can help. We are shifting the cybersecurity consulting paradigm to address the needs of mid-market, cloud-native or cloud-reliant companies who are experiencing rapid growth.
Founded in 2016 by global security expert Lou Rabon, our nimble team draws on decades of experience and diverse technical expertise to deliver a full spectrum of information security advisory and implementation services on a fixed-cost basis. Our right-sized, results-driven approach will help you meet your immediate needs, but also ready you to navigate what’s ahead. Get in touch, and see what results are possible for your organization.