Jorge Romo 

Professor Bowman 

CYSE 200T 

13NOV22 

EPortfolio Entry #4 

The cost and benefits of developing cybersecurity programs in business are contingent on many factors. The risk of loss by cyberattacks whether internal or external causes must be measured against the cost of ensuring their business systems are secure. Most of the time, the cost associated with securing their system is less expensive than a security breach. As discussed in module 4, there are two main types of security breaches internal and external. Internal losses include detection, investigation, containment, recovery, and responding costs. External losses would be disruption to business, loss of equipment, and revenue loss. A business also must achieve their goals to protect the confidentiality, integrity, and availability of their data. They also face legal repercussions for not protecting consumer data. Lastly, the trust a consumer places in their company and how safe their employees feel at work is priceless and may be irreplaceable if a business does not invest in ensuring that their business systems are secure. To invest in making sure their business systems are secure a company should develop secure systems with engineers, keep up-to-date software, invest in a strong IT (Information Technology) team, implement policies, and train their employees. According to smallbiztrends.com, the average cost of a cybersecurity attack in 2021 was about $25,612. According to csoonline.com, the company average loss for a cyber-security attack was $650,000. There are companies that specialize in cybersecurity with services such as: Anti-virus software, technology solutions, secure hardware, cloud services, security platforms, breach detection, data analytics, data protection, risk assessments, ongoing training, and emergency support. The cost may be determined by the size or type of business, employee access, and types of software. The culture a business sets only takes prioritizing time to train employees on cyber-security and making sure to hire more stringently. The benefits of developing these systems outweigh the costs of a breach. The trust a customer or employees will have in a business that has developed these systems to protect their data is priceless. Another major benefit is avoiding a major loss against a cybersecurity attack. Compared to the average loss because of an attack, some companies can implement these systems for much less. Therefore, the benefits of developing cybersecurity programs in business are essential because the cost of not having them is much greater than having these programs in place. 

Work Cited 

Do you know how much a data breach can cost you? – Albuquerque Business First (bizjournals.com) 

How much does it cost to launch a cyberattack? | CSO Online 

Why should your firm care about cyber security? (lawtechnologytoday.org)