By Amos Aesoph, Xigent CISO
With advancements in technology, the emergence of AI, and the rate of cyberattacks increasing, business owners are left wondering, “How secure does my organization need to be?” Xigent’s Chief Information Security Officer, Amos Aesoph, breaks down this question to help you better understand how protected your organization should be in 2024.
Understanding how secure your organization needs to be includes several factors:
Risk Appetite: The amount of risk an organization is willing to accept on a broad level in pursuit of its objectives, given consideration of costs and benefits. (USAID)
Outside Environmental Pressures: Protecting your organization’s reputation, shareholder decisions, or industry-specific cyber threats.
Understanding the Value of Your Data: Calculating and assigning a specific value toward your processes and data. Not sure what your business data is worth? Connect with us!
Often, business leaders aren’t fully aware of the protections they have in place. On the low end of the spectrum, certain businesses feel like they are too small to be targeted, which leaves them vulnerable to cyberattacks; to the other end of the spectrum, where organizations are overly secure and spending more money than they need to.
Between the two extremes above, there is a “sweet spot” on how much money should be spent securing your organization and its data. This is called the “Economics of Security,” and there is a process to walk through to understand how much money should be spent in order to secure your organizational assets.
Properly securing your organization in 2024 can come with challenges and questions. Xigent can assist you throughout this process with SecurPath – a defined plan on how to improve your IT security.
CLICK HERE to find out how Xigent’s SecurPath can help your business with this problem and more.
Be sure to check out Xigent’s SecurPath web pages, follow us on social media, and stay tuned to watch and read parts 1-5 of Xigent’s Tips to Avoid IT Security Pitfalls series to stay up to date on IT Security topics:
Xigent’s Tips to Avoid IT Security Pitfalls
Part 1 – Common IT Business Risks
Part 2 – What Drives the Need for Improved Security?
Part 3 – How Secure Should Organizations Be?
Part 4 – How Do I Measure Security Effectiveness?
Part 5 – How Do I Improve My Information Security?