In this excerpt, the cybersecurity budget will balance employee training and technology investments.
Introduction
The goal of a Chief Information Security Officer is to mitigate cybersecurity risks without exceeding the limited budget. Balancing employee training and technology investments requires judgment on which field needs the most money. As technology enhances the workplace, cybersecurity must also be the top priority, as unauthorized users may try to access data. Training employees and investing in cybersecurity are both important parts of mitigating risks in the workplace.
Cybersecurity Technology
Investments in cybersecurity technology should be 60% of the budget. As important as training is, it will only do something if the system has updated cybersecurity infrastructure. Investing in advanced threat detection tools can help identify and approach threats faster. Multifactor authentication is also beneficial for the security of the company. It ensures that data is kept secure and no unauthorized personnel is able to access it. Antivirus softwares are also needed as it secures endpoints from threats. Most American companies use antivirus to protect themselves from threats. Firewalls should be implemented in systems to control the traffic that goes in and out of the network; it protects the system from potential threats. Additionally, data loss prevention tools should be implemented to ensure Integrity. Data should be backed up in case any loss occurs (Gurinaviciute, 2023). Cybersecurity technology should always be up-to-date to ensure hackers do not find vulnerabilities in the system.
Employee Training
Employee training is also important as it teaches employees how to mitigate risks in their own hands; 40% of the budget should go towards training their workers. According to Sweeney, “The 2023 Thales Global Security Study of nearly 3,000 companies – found that at 55%, human error is still the leading cause of data breaches…” With the proper training and awareness, data breaches can decrease in the workplace. Security awareness training should be implemented every few months for everyone to attend. Every employee should recognize phishing emails, social engineering, and suspicious links. Cyber attacks are constantly evolving; phishing emails get smarter each time. It is easy for employees to make mistakes and let hackers into the system. Employees should be aware and ready for any cyber threats that they encounter; they are the first line of defense when it comes to certain risks. Additionally, individuals must be aware of cyber threats, so they can report the issue to the IT department. The quicker it is reported, the faster they can solve the problem. Response time is important when it comes to breaches. Lastly, employees should create strong passwords to reduce the risks of unauthorized access. Weak passwords make it easy for hackers to enter the system. It is also important to set up multi-factor authentication.
Conclusion
Figuring out where the budget goes to protect the company from cyber threats is a hard decision. The company should put 60% of the budget towards advancing cybersecurity technologies. Investing in cybersecurity technology allows the company to prevent, detect, and respond to any potential threats. Technology can fight off any threats without human intervention. However, human error is the leading cause of threats. As important as advanced technology is, the company should invest 40% of the budget towards training and educating employees about cyberthreats. Cyber threats are less likely to happen if employees are educated of the risks. Fighting against cyber threats will not only need advanced cybersecurity technology, but also the employees’ awareness of these potential threats.
References
Gurinaviciute, J. (2023, August 1). Council Post: Cybersecurity Investment Trends In The U.S. Forbes. Retrieved November 17, 2024, from https://www.forbes.com/councils/forbestechcouncil/2023/08/01/cybersecurity-investment-trends-in-the-us/
Sweeney, A. (n.d.). Human Error Cybersecurity Risks & Tips. ReadyWorks. Retrieved November 17, 2024, from https://www.readyworks.com/blog/the-cybersecurity-risks-caused-by-human-error-and-how-to-avoid-them