Five Ways a CFO Can Invest in Securing Their Organization

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Do not assume your organization is invincible based on size

When determining what the balance of investment and staffing in security should be versus other business costs, CFOs should note that, like it or not, because cyber threats seem to be increasing in scale, scope and frequency, investing in security is not a decision that can be put off until next quarter or next year. According to a 2014 Symantec report, 30 percent of all targeted attacks in 2013 were aimed at businesses with 1-250 employees; that number goes up to 41 percent if you factor in attacks against businesses of 251-500 employees.

When thinking about all of the individuals involved in managing risk and making security decisions in an organization, the person who has one of the toughest roles is the chief financial officer. For the majority of the C-suite, investing in security technology appears to be a relatively easy decision. However, the CFO has to balance the investment in security against a variety of other variables, including assessing the cost of managing cyber risk against all other costs of doing business.

According to a 451 Research report last year, "Given the 10 most recommended technologies and the pricing range, an organization could expect to spend anywhere from $225,000 to $1.46 million in its first year, including technology and staff." Considering the costs related to security, it's no wonder that the CFO might struggle a bit in regards to investing in this part of the business, even if he or she is fully cognizant of existing threats and the need to protect the company's assets.

In this slideshow, AlienVault, provider of unified security management solutions and crowd-sourced threat intelligence, will examine how CFOs can invest wisely in protecting their organization.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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