Rethinking Cybersecurity: From Necessary Expense to Business Opportunity

The importance of investing in some form of cybersecurity is already evident to most companies. Considering the frequency of cyber attacks every year against businesses, even a single event like a ransomware attack can completely disrupt revenue streams.

However, instead of viewing cybersecurity solely as an unavoidable cost, many businesses now see it as a tool to drive their organization’s growth.

The Evolving Perspective of Cybersecurity Spending

Cybersecurity can be a complicated and financially draining aspect of business operations. The primary challenge of investing in new and more advanced cybersecurity solutions is that they don’t directly enhance the bottom line. Much like insurance on a home or vehicle, expensive cybersecurity solutions are often seen as a “cost of doing business,” and rarely something that is actually needed.

But a fresh perspective is reshaping how businesses approach cybersecurity. Given that the foundation of cybersecurity revolves around awareness and forward-thinking, it naturally encourages businesses to adopt a more comprehensive look at their operations. This not only improves data security but also uncovers new opportunities to locate and improve efficiencies in their operations.

How to Use Cybersecurity Initiatives to Enable Your Business

The first step to getting more out of your cybersecurity investments is recognizing that business security doesn’t need to be viewed as just a cost center. By taking a strategic approach when implementing and managing cybersecurity initiatives like Privileged Access Management (PAM), businesses can drive improvement across multiple areas of their organization.

Below are some effective ways to use cybersecurity initiatives as a catalyst for business growth:

Blend Your Security Objectives with Long-Term Business Goals

Traditionally, there’s been a clear divide between cybersecurity and business sales efforts. While security teams dedicated their energies to protecting businesses from threats, the rest of the organization focused on revenue growth. However, by combining cybersecurity objectives with overarching business goals, companies can improve collaboration on both fronts.

For example, adopting secure and agile cloud technologies supported with Remote Desktop Protocols doesn’t just improve data security, but it also improves the adaptability of your IT framework. Using these solutions together significantly improves overall business efficiency and results in lower costs for the business.

Track and Monitor Security Metrics with Business KPIs

Understanding your business’s performance across different areas is important when it comes to decision-making. Managing cybersecurity is a great opportunity to collect and analyze data relevant to overall business performance.

By tracking and monitoring security metrics with business key performance indicators (KPIs), organizations can identify potential vulnerabilities, measure the impact of their cybersecurity spend, and leverage their data to incorporate more effective business strategies.

Make Cybersecurity a Selling Feature

Customers today are more than just smart shoppers – they’re also discerning about the safety of their personal data. With the growing awareness of data breach risks, they often look for businesses that emphasize the importance of safeguarding their information.

By highlighting your company’s commitment to cybersecurity and demonstrating the proactive Defense in Depth approach you’re taking, you can stand out in the market while building stronger customer loyalty.

Make Cybersecurity a Powerful Business Enabler

Regardless of your business’s size, every penny channeled into cybersecurity should be viewed as a strategic investment, not just an expense. Recognizing cybersecurity as a catalyst allows you not only to keep your data protected but also to fuel your business’s growth.

Joseph Carson is a cybersecurity professional with more than 25 years’ experience in enterprise security and infrastructure. Currently, Carson is the Chief Security Scientist & Advisory CISO at Delinea. He is an active member of the cybersecurity community and a Certified Information Systems Security Professional (CISSP). Carson is also a cybersecurity adviser to several governments, critical infrastructure organizations, and financial and transportation industries, and speaks at conferences globally.

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