Strategic Value Of Cyber Security

Although few businesses would deny the importance of cyber security in today’s technology heavy world, it seems that many are failing to understand its strategic value within a company.

Computer Weekly recently shared the results of a survey by Thycotic, which found that 63 per cent of UK IT security professionals feel as though their team are viewed as “doom mongers”, while 36 per cent believe they’re seen as a “necessary evil”.

What’s more, over one-quarter of those questioned said that the IT security services at their business aren’t really noticed and are considered a business function that runs in the background.

However, many of the security professionals surveyed said that their company could boost its performance by seeing their work as part of building a competitive advantage, rather than as just another business function.

Worryingly, 62 per cent of people said that they didn’t believe their board of directors always understood the business case for investing in security personnel and services.

Chief security scientist and advisory CISO at Thycotic Joseph Carson said that it’s time for businesses to change the way they view cyber security.

He stressed that businesses should “shift their focus to reducing risk by using cyber security techniques, skills and knowledge rather than seeking to address cyber security in general without any tie-in to the business”.

A recent article for Forbes discussed how to approach boards when talking about cyber security investment. The news provider recommended being able to confidently explain how any new investment aligns with the company’s objectives, as well as wider industry objectives, not to mention how it will mitigate business-critical risks.

If your company isn’t big enough to have its own cyber security department, make sure you’re keeping on top of things by working with cyber security consultants to protect your business.

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