Having cybersecurity is an important part of a business and protecting that business. The question is how much does it cost and what are the benefits to developing a cybersecurity program? Well let’s get into it. Let’s start with the benefits. Having a cybersecurity program is essential to a business. Any business with some sort of technology which most, if not all, businesses are using technology. A benefit of having this is obviously protection. Having that business’s data, networking, and internal components protected is something that every business needs to have. Without these protections, a business will struggle and near fail because they’re information and data isn’t being protected and there are malicious people out there who want to cause harm. Another benefit of having a cybersecurity program is having is the businesses reputation protected. If a company has a poor cybersecurity program, their business partners or potential business partners aren’t going to want to do business with them because their data and information won’t be protected in turn, losing that business money and stopping the business from progressing. Another benefit of having a cybersecurity program is that it improves production. A part of that is remote work. Without having a cybersecurity program, remote work would be unbeneficial because of the risks involved. If there weren’t any cybersecurity posture, an attacker could easily infiltrate a businesses network and cause harm. Not having a cybersecurity program would make productivity go down in a big way for this business. Now the costs for having a cybersecurity program aren’t too too hefty for a company. An average cost for having a cybersecurity program is around 10% of a businesses IT budget. So if a company’s IT budget is about $1 million, the budget for a cybersecurity budget of $100,000.
References: https://www.designrush.com/agency/cybersecurity/trends/benefits-of-cybersecurity