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Getting board buy-in for cyber security

Written by Tue 19 Apr 2022

With a number of high-profile cyber security incidents hitting the news in recent months, ensuring that cyber security is top of the agenda for businesses is a must. Yet, despite the well-known risk of cyber criminals targeting a business, many organisations find it challenging to get the corporate board to fully buy-in to a comprehensive cyber security agenda.

 

As the average cost of a data breach is estimated to be almost $4 million, taking proactive action on cyber security can pay dividends in the long run. When cyber security teams and leaders are engaging with the board on this issue it’s vital that communication is made a straightforward and jargon free as possible.

Most board members are unlikely to be cyber security experts, by focusing on the bottom line benefits and operational improvements that focusing on cyber security can have, maybe the best way forward. One effective method of directly communicating to the board the practical benefits of investing in cyber security is presenting them with real life scenarios where improvements in cyber security would be an advantage.

Even as boards face competing priorities in their business when it comes to funding, being able to accurately communicate the benefits of choosing to fund cyber security initiatives enables these leaders to better understand the value of cyber security.

Educating board members on both best practices and compliance issues in the cybersecurity space is a powerful way to help them discover themselves why cybersecurity is an important area to focus on.

Clarifying the fact that investing in cyber security can also help the organisation better meet compliance challenges, such as GDPR, offers a new perspective to board members who perhaps have viewed cybersecurity as a cost rather than an investment.

Written by Tue 19 Apr 2022

Tags:

cybersecurity security technology
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