The Economic Impact of Cyber Attacks
Why It’s Imperative for All Businesses to Have a Cybersecurity Program
In years gone by, only large corporations with the manpower and budget had security or cybersecurity programs. As cybersecurity has evolved and smaller businesses have faced an increasing number of targeted cyber attacks, security programs have become essential for companies of all sizes. If you’re a business owner considering establishing a cybersecurity program, this is what you need to know.
What is a Cybersecurity Program?
A cybersecurity program is a business initiative wherein a company allocates budget, time, and personnel to protect the business and its interests with cybersecurity measures. Establishing a cybersecurity program is a large undertaking that requires substantial effort and resources.
Creating a Cybersecurity Program
Creating a security program means detailing a set of cybersecurity policies, procedures, guidelines, and standards that dictate the company’s approach to all matters of cybersecurity. To implement a security program, a company must first conduct a cybersecurity risk assessment to determine its security strengths and weaknesses. The information obtained through the risk assessment will inform the creation of the new cybersecurity policies and procedures. It’s considered best practice to utilize a cybersecurity framework when creating this documentation.
Implementing a Cybersecurity Program
Once you’ve designed a cybersecurity program, all of the policies and procedures must be rolled out. Documentation should be distributed to staff; all employees should receive trainings on the new cybersecurity program and their role in protecting the company from cyber attacks. Create and schedule periodic supplemental training sessions to ensure employees are thoroughly informed of all cybersecurity policies and practices.
The Value of Prioritizing Cybersecurity
But what’s the point, you may ask, of the time and trouble it takes to implement a cybersecurity program? Can’t we cover ourselves well enough with two-factor authentication, spam filters, and antivirus software? Unfortunately, those methods are no longer sufficient to protect a business from cyber attacks. The varied new types of cyber threats are subtle and ever-evolving. A robust cybersecurity program guards against cyber attacks and prepares your organization for a comparatively smooth disaster recovery if you ever do experience a data breach.
Cybercriminals and their attacks threaten employees, customers, proprietary knowledge, data, finances, and so many other critical business assets. A successfully designed and implemented cybersecurity program offers substantial benefits to a business because it protects those assets and their interests. Until you’ve begun the process of designing a cybersecurity program, assessing your risk level, and identifying your vulnerabilities, you won’t have the information or resources necessary to protect your business and its assets.
So what’s the next step? Who executes all of this? Within the larger context of a business, a cybersecurity program is typically overseen by a Chief Information Security Officer (CISO) or a Virtual Chief Information Security Officer (vCISO). Companies that don’t have the need or means to hire a vCISO have the option of outsourcing that function to an external cybersecurity contractor. There are cybersecurity program management options available for companies of all sizes.
CyberTeam has the cybersecurity expertise to meet your needs and protect your business from cyber attacks. We have experience working with companies across industries, creating custom strategies to address their unique security needs. If you’re interested in working with us, get in touch.