By Matt Hurley, Corporate VP, Channel and Field Marketing Organization
Cybersecurity can be a touchy, but important, topic to discuss with customers. You can count on a security breach almost as sure as you can count on the sunrise, it seems. Having a talk with your customers is now more important than ever.
Today, we have information available to you, our partners, that will make it easier than ever to have that discussion.
For the new report, RAND conducted in depth interviews with 18 chief information security officers (CISOs) at companies with $100 million-plus revenue. Here’s what the report found: CISOs often face a chaotic and confusing landscape when deciding the most efficient and cost-effective way to manage the risks posed by security to their business. Further, the study found that many companies are spending increasing amounts on cybersecurity tools, but are not confident that these investments are making their infrastructure secure. For you, our partners, the report is a powerful resource that can help you close deals.
The study pointed to five key security realities:
There is no one-size-fits all solution
Many security tools have a half-life and lose value
Investing in people leads to lower costs over time
The Internet of Things is at a crossroads
Eliminating software vulnerabilities leads to major cost reductions
Based on the findings, RAND developed a heuristic economic model to help companies map the major factors and decisions that influence the cost associated with cyber-risk to organizations. Across all organizations, the heuristic model suggests that the cost of managing cybersecurity risk is set to increase 38 percent over the next 10 years across all businesses.
The model, here and above right, can help you and your customers understand the economics of managing security risk, the range of variables implicated, and what investments should be made to more efficiently protect infrastructure.
So use the report and the model and have that talk with your customers. It’ll pay off for everyone.