What are the costs and benefits of developing cybersecurity programs in business?

The costs and benefits of developing cybersecurity programs in business can vary greatly between businesses. A corporation hosting user data has a business interest in keeping a user’s personally identifiable information (PII) secure. Standing up mobile device management software and conducting employee security training has high up-front costs in terms of time and resources. However, this cost is offset by the positive downstream effect these security efforts provide by making the business a hard target for workplace deviance and outside threat actors.

The costs of a data leak could be damaging to the individual user, but catastrophic for the business. The negligent use and storage of personal data can lead to its theft or leakage, thereby posing a large vulnerability.  As one example of the cost of having weak cybersecurity programs, this would facilitate the loss of public trust which may result in fewer users on the platform, undermining ad revenue thereby cutting the corporation’s profit.

The benefit of investing in cybersecurity programs may be seen in multiple facets. Users benefit from cybersecurity programs when their data is safe and secure. Their work is protected and their communications are secure because of mobile device management programs and technologies such as encryption. These technologies and procedures protect data and users, saving time and money for the business and increasing employee sentiment. It also keeps proprietary business data safe from bad actors.

The cost and benefit of cyber security programs demand analysis from the head of the business. Without their full effort and support of these programs, cybersecurity efforts will fail. It is paramount that leadership show their invested interest in these programs so that they not only stay funded but also receive employee buy-in. Cybersecurity programs thrive when everyone is like-minded in security fundamentals. This may take time, but it is better to start towards a goal than to never even start for fear of difficulty.