Finding a Balance on Your IT Cybersecurity Spending


Cybersecurity has quickly gone from being viewed as security overkill to a necessity by most businesses. As with all forms of technology, there are costs associated with a cybersecurity plan. It can be tempting to throw a bunch of money at the problem and hope the solution will be worth it. It can be equally tempting to try to skimp on cybersecurity and just hope for the best. In order to figure out whether you’re spending too much or too little on cyber security, you have to first make sure you are well-protected with your current system. Then, if you need more protection, a further investment can be made. And if you’re overspending, you can find areas to cut back. Here are some things you need to have in place.

Multi-Factor Authentication

A security system with multi-factor authentication is like a house with two very thick, locked doors. It is likely going to take an invader twice as long to get through those barriers—if he’s able to at all. If this isn’t in place in your current cybersecurity setup, it would be wise to implement it. Even though it may seem like one level of protection is enough, it is always better to be safe than sorry due to lost or compromised data or systems. If this is not yet in place, more money should be spent in order to get it.

Next Generation Firewalls

A next-generation firewall is able to find and prevent attacks that are more sophisticated. They do this by applying security measures at the port level, the application level, and the protocol level. Some examples of what’s used to accomplish this are URL blocking, virtual private networks (VPNs), SSL and SSH inspection, and reputation-based malware detection. When these and other features work together, the firewall is more adept at blocking intrusions. If you do not have this yet, it may be time to make an additional investment.

You May (or May Not) Need an SIEM Solution

A Security Information and Event Management, or SIEM, solution allows you to keep track of security issues and events in real-time. What this means is you can see security threats as they occur. You can also track how they are dealt with and see how this happens in real time. This can be valuable for a business that is concerned about the details of each threat. On the other hand, if these details are going to cause undue anxiety, you will have the option of ignoring them with the right SIEM solution. If you have a relatively small IT footprint, SIEM can be overkill, and you could likely save money by doing away with it. However, if your IT systems are getting increasingly complex—or otherwise growing in size—a SIEM solution would be worth the extra money spent.

A next-generation firewall and multi-factor authentication are necessary elements of a sufficient IT system. Things like SIEM solutions could be either unnecessary expenditures of money or necessary, all depending on the needs of your business.

Sources:

https://www.rutter-net.com/blog/10-cybersecurity-essentials-for-businesses

https://www.datacenterknowledge.com/security/are-you-spending-too-much-or-too-little-cybersecurity

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