The benefits of developing cybersecurity programs in business far outweigh the costs. Think of cybersecurity as a business investment not a cost. Every business should have some sort of cybersecurity program in place. The size and complexity of it is dependent on the individual company; it’s not one size fits all approach. A small business would not have the same requirements as a huge corporation or large money center bank.

Costs of Cybersecurity 

There is an initial cost associated with developing a cybersecurity program for a business. This would include purchasing cybersecurity hardware and software, antivirus software, and hiring IT personnel or outsourcing to third party IT services. Routine cybersecurity awareness training for employees is another important cost. Human error is often recognized as the weakest link. Size and type of industry will ultimately determine cybersecurity costs.

Benefits of Cybersecuriy

Implementing a cybersecurity program can reduce the likelihood of a cyberattack and/or lessen the impact of an attack. This in itself is a huge benefit because a successful cyber attack could mean a significant financial loss and reputational damage. Cyber attacks can also disrupt normal day-to-day operations for a company resulting in loss of revenue. Another benefit of a sound cybersecurity program is better compliance alignment. There are compliance standards and national/state regulations that require companies to maintain cybersecurity standards.