As a chief information security officer, one of the biggest challenges I faced was in measuring the value of our organization’s cybersecurity investment. Fortunately, tools and methodologies to translate cybersecurity more specifically into costs and benefits are now available, so CISOs can be more detailed than ever before in measuring the effectiveness of risk mitigation.
By attaching real numbers to cybersecurity—this is how much a breach will cost us, this is how much we can reduce risk by making this specific investment—CISOs can work with the C-suite to make more informed decisions.
Cybersecurity risk mitigation is more critical than ever. With most companies embracing digital transformation, the impact of a breach can be crippling, in terms of money lost, damage to brand reputation and partner/customer goodwill. At the same time, the threat landscape is increasingly sophisticated, better funded and more coordinated.