By Jason Roys
We live in a world of burgeoning technology. We use our personal devices daily. We work with computers in our jobs. We bank online. But we don’t always consider the work that cybersecurity consulting firms do to protect our personal data, our privacy and our finances.
Cybersecurity races against cyber threats as technology booms. This can be a thorny problem for individuals using technology for personal use. However, it can result in devastating blows to companies and organizations working with the public’s data.
What can a data breach do to your company? Depending on whose research you choose to read, the average cost of a data breach is nearly $4 million dollars. In regulated industries such as banking and healthcare, the costs of a data breach can rise significantly. No organization can afford that kind of financial hit, but the more critical piece is the compromised data. Add to those costs the legal fees and the lost revenue, as well as a diminishment of the organization’s good reputation (perhaps a decrease in trust or a changed perception of the organization). Clearly, a lack of cybersecurity that leads to a data breach could nearly sink some companies.
It’s been proven that about one-third of customers will cease to do business with an organization whose data has been breached. Besides affecting its customer base, it can affect the staff, as well. A breach can make it difficult for an organization to recruit (and sometimes to retain) employees. Industry partners and investors may look askance at an organization that has suffered from a lack of cyber security. Vendors may feel unsafe working with a previously breached organization. All of these issues can have a severe (and sometimes fatal) effect on the business mission of an organization. But the likelihood of data breaches can be mitigated through the strategic use of cybersecurity consultants.
What issues can a cybersecurity consulting cover?
We regularly hear news, such as my op-ed with Fox Business News, about cyber attacks at critical infrastructure companies. But now, as technology broadens and as artificial intelligence (AI) becomes more day-to-day, companies of all sizes find themselves in need of strict online protection to assure the safety of their, and their clients’ data.
Cybersecurity consulting services are becoming an industry standard – a critical contributor to most successful businesses. In 2022, organizations should focus on a number of cybersecurity issues, including the following:
Zero Trust Architecture (ZTA), an evolving set of cybersecurity paradigms that move defenses from static, network- based perimeters to focus on users, assets, and resources.
Identity and access management (IAM), the management of identification, authorization, and permissions across systems.
Architecture and policy, the translation of standards, processes, and frameworks into internal policies.
Data loss prevention (DLP), the deployment and management of security operations.
Incident response, to determine the correct analysis and mitigation.
Penetration testing, the managed mock attacks that expose vulnerabilities.
Governance, risk, and compliance (GRC), which performs internal audits and develops plans for both disaster recovery and business continuity.
What specific services can you look for?
Security consultants can help an organization navigate the latest trends in technology, developing security programs that can save time and money while providing security and peace of mind. Among other services, they provide:
Risk management, to identify any prospective issues and head them off.
Data management, to provide security solutions and to confirm and recover from a compromise or a breach.
Strategic readiness, offering security assessments and advisory services to improve an organization’s strength against future cyberattacks.
Evaluation of insider threats and outsider threats.
Threat intelligence, as learned from prior incidents.
Training for team members in security controls and proactive strategies.
Identifying and closing any gaps in the organization’s security.
Save you money on staffing
Cybersecurity is a fairly new field, and its consulting services are in high demand. It can be expensive, particularly for a mid-sized organization, to hire its own internal cybersecurity team. That’s why outsourcing to a cybersecurity consulting firm has become a critical method of strengthening a firm’s ability to stave off attacks. A cyber consultant can help your business grow, innovate, and compete as you build on your team’s existing expertise. By carefully managing your resources, you can focus on other priorities.
Train staff, both IT and non-IT, on cybersecurity practices
Knowledgeable employees are your organization’s best defense against cyber threats. And many businesses lack expertise in their teams. An external cybersecurity consulting firm can bring your current employees up to date on the latest threat assessment and mitigation technologies, helping them to ensure your clients’ data security and safety. When a cybersecurity consultant team trains your staff, it should be easy for your employees to use the new tools and security practices that they have learned. Many companies also opt for ongoing education programs that provide useful refreshers and updates.
Reduce vulnerability to phishing attacks
In addition to training staff to prevent breaches, it’s critical to protect the data itself. A strong cybersecurity partner will perform due diligence – and will recommend the appropriate security measures – among them encryption, the choice of antivirus software, firewalls, backups, password protection, and monitoring.
Keep your organization up to speed
It’s happening more and more. Hackers are becoming more brazen and cyberattacks are becoming both more prevalent and more severe. The tools are frankly easier than ever for script kitty’s to use. New countermeasures are available, but they won’t help you if you’re not using them. That’s where a strong cyber consultant earns his or her keep. They’ll lead you through the gamut of preventive technologies – assuring that you adopt only those technologies that are most specific to your organization’s needs.
Help you avoid lawsuits due to data breaches
We’ve mentioned some of the risks of data breaches. But one of the most devastating can be legal action that follows the breach. The mistake of just one employee can generate lost or compromised data. And when an organization’s data is compromised – perhaps stolen, perhaps corrupted – that business is liable for damages. The right cyber consultant will work to shelter your organization from a breach, helping you to avoid any legal ramifications from lost or compromised information. They also can help to right the ship after the event.
Identify weaknesses in your security
It’s a relief for most organizations when their cyber consultant determines their weak spots. It’s intimidating to learn what risks your business might face, but it’s a testament to you that you’re looking ahead and trying to fill those prospective gaps in security. Since approximately 64 percent of businesses have been cyberattacked, with an average of over $7 million spent per incident, it’s important for your organization to secure itself.
Attacks on small businesses are growing, and three out of four small businesses report that they don’t have the project manager, or the personnel, to adequately address cybersecurity issues. That’s where your consultant can show strength – in recommending and helping to implement methods that will secure your company’s data, finances, and reputation.
Improve threat management and response
Now’s the time to consider your organization’s ability to respond to a cyberattack – not after you suffer one. How can you improve your organization’s ability to respond to cyberthreats? If you have not hired a specific cyber team to consider this issue as part of your IT department, it’s highly recommended that you investigate the use of a cyber consultant professionally trained in your business’ needs.
Help you to develop an overall strategy
It’s important to find the right cyber consultant. One that sells a particular line of cyber protection tools or works with specific vendors might be trying to serve two masters. It's generally recommended that a business find a consultant with experience working with similar clients, both in terms of size and security needs. The right cyber consultant will help your organization create a roadmap, in several phases, both to address immediate concerns and to strengthen long-term security and compliance, even as it helps you guard against methods of attack that have not even yet been developed.
Finding cyber security
If your organization isn’t looking ahead, you’re at risk. SDV International can help you strengthen your cyber defense capabilities so that you can reduce the risk to your data and to your business by mitigating threats and training your employees in cyber safety.