This blog introduces CISO’s checklist for maximizing cybersecurity ROI and provides key criteria for effectively navigating this complex landscape. Explore how aligning your security strategy with business objectives, adopting continuous threat exposure management, and leveraging the power of automation can strengthen your cybersecurity in an ever-evolving threat landscape.
With the vast number of vendors and solutions available in today’s cybersecurity market, even the most experienced CISOs and security leaders can struggle with deciding where to invest their resources. But in an era where cyber threats are becoming increasingly sophisticated and pervasive, and market conditions are straining budgets, making the right choices to maximize your cybersecurity return on investment (ROI) is simply a smart move. Not only that. It’s mandatory.
This year’s Gartner® Security Operations Hype Cycle With 24 featured technologies alone, this is just a glimpse of the thousands of different options available to CISOs today. Simply taking security measures is not enough. These must be appropriate measures tailored to an organization’s specific needs and risk profile.
according to IBM’s 2023 Data Breach Cost Report, more than half (51%) of organizations plan to increase investment in security due to a breach, increasing their investment in incident response (IR) planning and testing, employee training, and threat detection and response tools. I’m looking for it. Let’s take a look at three key criteria every security team should consider when evaluating potential her SecOps tools and services.
- Aligned with overall goals and long-term business objectives.
In today’s dynamic and interconnected business environment, security is neither a cost center nor a technology requirement. It is a strategic enabler. Security and risk leaders play a critical role in protecting an organization’s assets, reputation, and continuity. To do this effectively and maximize ROI, your strategy must align seamlessly with your business’ core mission and goals.
Failure to align security and risk management with business objectives can have several negative consequences.
- Misallocation of resources: If security efforts are not aligned with the broader business context, resources can be misallocated. This misalignment can result in overspending in some areas and ignoring critical security gaps in others.
- Missed opportunities: Without integration into business strategy, security leaders may miss opportunities to proactively address emerging risks or contribute to revenue-generating initiatives, hindering their ability to capitalize on market trends.
- Piecemeal efforts: A lack of alignment between the broader organization, especially IT and DevOps, can result in disjointed security efforts with no synergy. This fragmentation can create inefficiencies and gaps in your security posture, increasing overall risk.
- Supports Continuous Threat Exposure Management (CTEM).
Threat actors will continue to evolve their tactics in 2024 and beyond. To stay ahead, security leaders are investing in security hygiene and posture solutions that proactively defend against potential attacks and minimize the impact of security incidents, rather than investing only in detection and response capabilities. is needed.
according to gartner®, by 2026, organizations that prioritize security investments based on continuous exposure management (CTEM) programs will 3x less likely to become a victim of a breach. Adopting a CTEM approach is important because it enables your security and risk efforts to withstand the evolving threat landscape by allowing you to:
- Effective prioritization: By prioritizing security and risk efforts based on potential impact, organizations can allocate resources effectively. This means addressing the most critical risks first, reducing the likelihood of costly security incidents, and optimizing the use of available resources.
- Cost efficiency: By focusing on the most critical risks, organizations avoid spending resources on less important areas and maximize cost efficiency. This approach helps reduce risks that can cause significant financial losses and ensures that your security investments generate a significant ROI.
- Demonstrate value: A risk-based approach not only protects your organization, but also demonstrates the tangible value of your security capabilities. Security leaders can articulate how their efforts directly contribute to the organization’s success and resilience.
- Harness the power of automation.
Automation is transforming cybersecurity and its impact extends to many aspects of security operations. The benefits of automation directly contribute to maximizing his ROI of cybersecurity investments in several ways:
- Reduced cost and effort: Automation reduces the need for extensive manual labor in security operations. By automatically handling routine tasks, organizations can accomplish more with fewer resources. This cost savings leads to more efficient use of budget and allows for strategic investments in advanced security technologies.
- Minimize potential losses: Automated capabilities to detect and respond to threats in real-time significantly reduce potential financial losses associated with security incidents. In fact, organizations that use security AI and automation extensively Average savings of $1.76 million Compared to companies that don’t (IBM, the cost of a data breach in 2023).
- Enhanced security posture: Automation helps strengthen your overall security posture by streamlining processes, improving accuracy, and reducing response times. A robust security posture not only reduces the likelihood of a security incident, but also minimizes the impact when a security incident occurs. This strengthens organizational resilience and minimizes potential financial impact.
In a complex cybersecurity environment, decisions made today will have a significant impact on an organization’s cyber resilience tomorrow. Armed with this knowledge, your team can cut through the noise, select solutions that meet your organization’s unique needs, and ultimately be prepared to strengthen your cybersecurity posture in a world with more risk than ever before. will be strengthened.
Achieving superior cybersecurity: Connect, adapt, and automate with Noetic Cyber
Now let’s consider the Noetic platform. The platform was developed to empower security leaders with the cyber asset intelligence they need to confidently navigate complex cybersecurity environments.
Align: Demonstrate the value of security
Our platform is a comprehensive platform that not only enables teams to strengthen their overall security posture, but also demonstrates the tangible value of security functions that actively contribute to an enterprise’s mission, success, and resiliency. Provide contextual insights.
Adapt: Effectively prioritize threats and threats
almost half (47%) Security professionals I agree that the inability to prioritize effectively is a major reason why vulnerability backlogs grow. Given that cyber incidents can directly impact stakeholder value, CISOs are under more pressure than ever to prevent incidents from occurring in the first place. Her CAASM solution at Noetic is new approach Attack surface and exposure management.
Automation: Optimize efficiency and productivity.
The average IT asset inventory takes 80+ hours Complete. With Noetic, users can instantly save money and effort with a 360-degree view of their environment that is automatically created using cleansed and curated versions of data from existing tools and sources. Masu. From there, teams can deploy advanced features at their own pace from a full-featured automation engine.
Attend an upcoming live demonstration Find out how Noetic checks these boxes (and more).
*** This is a syndicated blog from the Security Bloggers Network. Noetic: Attack surface area and security control management for cyber assets The author is Alexandra Aguiar. See the original post here: https://noeticcyber.com/maximizing-cybersecurity-roi/