For business owners, protecting against cyber threats and ensuring business continuity is a top priority. In today’s reality where cyber threats are everywhere, cybersecurity has become a key component to ensuring smooth business operations in any industry employing information systems.
Defining security cost-effectiveness when investing in cybersecurity countermeasures is an important financial and operational decision for most businesses. A consolidated security architecture can save an organization millions in total cost of ownership (TCO) and reduced losses from ransomware and other attacks.
However, according to Gartner, 82% of security and risk leaders do not account for environmental or business impacts when developing budgets. By operating in a silo and failing to align with business needs, they fail to maximize the impact of their security spend. This article introduces best practices for optimizing an organization’s cybersecurity costs and avoiding costly pitfalls.
An organization’s cybersecurity costs can depend on a variety of factors. Some of the main determinants of security spend include:
Optimizing cybersecurity costs requires an organization to identify the common sources of cybersecurity overspend. Some best practices that organizations can adopt to optimize their cybersecurity costs include:
Organizations rarely get their money’s worth when paying for cybersecurity. Often, it is difficult to determine what exactly a particular solution does and how it would integrate into an organization’s existing cybersecurity architecture. As a result, organizations end up with a complex array of overlapping and, in some cases, unused or underused security solutions that are managed by an undersized and overworked security team.
Even if an organization has designed its security architecture to optimize efficiency, it may suffer from security overspends. Since usage can be hard to predict, companies may oversize their security solutions and licenses to ensure that they have capacity if they need it. As a result, security teams waste resources that could better be used elsewhere.
The best way to optimize corporate cybersecurity costs is with an enterprise license agreement (ELA). With an ELA, an organization can redistribute unused credits as needed to meet evolving business needs. This allows an organization to right-size its cybersecurity spend while taking full advantage of the benefits of a consolidated security architecture.
Check Point Infinity ELA enables an organization to optimize every aspect of its security spending by providing access to a consolidated security architecture via an ELA. A consolidated security architecture is the best way to optimize and streamline an organization’s security architecture and processes, learn more about its benefits today. Then, sign up for an Infinity ELA consultation to develop a security architecture that is tailor-made to suit your organization’s business and security needs.