- Cost-cutting becomes a priority for businesses looking to remain strong during record inflation
- “It’s always a question of what to prioritize and which costs to minimize while preserving the quality of your product,” states a Forbes article
- Cerberus ensures that companies not only stay more secure but also build a culture of cybersecurity
In a fragile economy with a possible recession looming on the horizon, savvy companies are taking a close look at ways to tighten their belts. As they do so, a recent Forbes article cautions wise business leaders to keep cybersecurity in the forefront (https://ibn.fm/ui99g), a strategy that Cerberus Cyber Sentinel (NASDAQ: CISO) can help with.
The article details “why cyber protection should become a ‘must-have,’ not a ‘nice-to-have’ in your business decision-making process and why you should prioritize it in times of economic uncertainty.” Titled “Why Businesses Shouldn’t Cut Cybersecurity Costs—Especially During a Crisis,” the piece notes that “the global economy has been shaken enough times in the past two years for some experts to say the world will likely enter another recession soon.”
“While it’s essential to work on a renewed crisis management plan, it’s always a question of what to prioritize and which costs to minimize while preserving the quality of your product,” the article continues. “In evaluating risks, it might seem reasonable at first to eliminate the costs that don’t directly affect production. If your business has never been exposed to a real cyber threat before, expenses for security systems might seem too pricey — a common misconception.”
The article calls out three key reasons why cybersecurity shouldn’t be on the budget chopping block: cutting cybersecurity costs may result in greater expenditures in the long run; neglecting cybersecurity compliance can have a legal — and financial — impact on a business; and an up-to-date security architecture can be a competitive advantage. This is where insight from seasoned partners can help organizations identify new efficiencies, business enablement, and ROI that can be tied to their cybersecurity investments.
Still, the savings in prevention alone make security improvements worthwhile. “Neglecting simple details such as installing cyber protection and providing cybersecurity awareness to your employees can cost you more in the long run,” reported Forbes. “According to the most recent IBM report, the current cost of a data breach for a company averages $4.35 million—and this price only grows yearly.”
Additionally, Forbes explained that “fulfilling certain cybersecurity compliance requirements is not only a question of mediating potential financial risks for your business — in many cases, it’s simply a law. As a business, you are free to protect your own physical and intellectual property in a way that benefits you. However, when it comes to things you don’t own (the customer or partner data that you work with or market information that you gather), you have to fulfill your local data management and protection requirements.”
Finally, the article observed that cybersecurity literacy is growing in business-to-business and business-to-consumer sectors, with many existing and potential customers and partners beginning to realize how serious the implications of a careless attitude to cyber risks might be. “If you cannot ensure that the data they provide is secure, why should they choose your service over a competitor that fulfills their requirements?” the article asks.
Cerberus Sentinel understands these points, recognizing that cyber resilience is a journey that is often made unnecessarily complex and confusing in today’s marketplace. “Cerberus Sentinel is on a mission to demystify and accelerate our clients’ journey to cyber resilience, empowering organizations to securely grow, operate, and innovate,” the company states on its website.
Widely recognized as a managed cybersecurity and compliance provider, Cerberus is rapidly expanding by acquiring world-class cybersecurity, secured managed services and compliance companies with top-tier talent that utilizes the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations.
For more information, visit the company’s website at www.CerberusSentinel.com.
NOTE TO INVESTORS: The latest news and updates relating to CISO are available in the company’s newsroom at https://ibn.fm/CISO
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