Cybersecurity is becoming important and necessary in everyday life. Technology is advancing and so are criminals. Businesses should start implementing cybersecurity programs. However, there is a cost to that, like everything else in the world. According to one site, a company should be willing to spend about 3.2% of its income on IT costs (Guim 2021). Throughout this course, we have gone over how the costs of cybersecurity/ IT programs can be a huge deferment to businesses. Some businesses (especially small businesses) simply do not have the means to add it to their budget, and it is not good. It seems like every day I see something on the news about a cyber-attack. Cyber-crime is here to stay, and businesses need the protection so very badly.
The benefits of adding a cybersecurity program outweigh the impending cost of a cybersecurity program. The same site mentioned above stated that in 2020 the losses due to cyber-crime totaled to more than a trillion dollars (Guim 2021). That is a lot of money. Cybersecurity programs in businesses are designed to prevent such losses. You can think of it like car insurance or health insurance. I pay for car insurance not expecting to get into an accident but have it just in case I do. This doesn’t mean I get to drive like a maniac it just ensures that I can cover the costs of any possible accidents. It is the same with health insurance, I pay for health insurance hoping I do not get sick but have it in case I do. A cybersecurity program is like insurance for IT companies, but a type of insurance that can actually prevent incidents. It’s implemented to be ready for possible Cyber-attacks and to make sure there are no vulnerabilities. Cyber crime does not just cause a loss in funds but also drags companies’ credibility. No one will trust a company that loses important information. Cybersecurity programs are seriously so beneficial.
Guim, T. (2021, August 10). Cost of cyber attacks vs. cost of cyber security in 2021. PCH Technologies. Retrieved October 24, 2021, from https://pchtechnologies.com/cost-of-cyber-attacks-vs-cost-of-cyber-security-in-2021/.