CYBERSECURITY EXPERTS’ ADVICE FOR OPTIMIZING ROI DURING ECONOMIC DOWNTURN

During this economic downturn, many companies have taken revenue hits of 30-40%, if not higher. Organizations have looked at immediately cutting costs and reducing expenses, including in areas such as IT and cybersecurity. Last week we spoke with three cybersecurity experts, Kevin Jackson, CISO, Troy Vennon, Director of Security Innovation, and Jeff Schmidt, Vice President, Chief Cyber Security Innovator. They advised on strategically cutting costs without leaving your company too exposed.
If you missed it, click here to view the full 30-minute Q&A session.
ASSESS CURRENT TOOLS
Be sure to complete a full assessment of the tools you have purchased and are currently using. Did you fully implement them? Did you implement them correctly? Do you have an overlap in tool coverage? Are you leaving critical areas exposed? Now is a time to be deliberate and efficient with the tools you’re using.
CONSIDER MANAGED SERVICE PROVIDERS
Evaluate your team skill-level and efficiency to determine if you should use an MSP or tackle projects in-house. One of the benefits of using an MSP is that they are typically highly specialized and efficient, especially at scale. However, for some projects, it is advantageous and cost-saving to utilize your team.
BE THREAT INFORMED
What is your organization’s real threat? What is the profile of the threat actor who is interested in your enterprise or your industry? Tools like MITRE ATT&CK provide current, real-world data on adversary tactics and techniques: Is someone going to be password spraying your single-factor VPN? This helps you understand if you have the right controls and technologies in the right place for your organization.
If you are unable to answer some of these questions, reach out to us. We would be happy to provide an assessment to determine your cybersecurity program’s level of efficiency and your organization’s current risk level.