When it comes to protecting your business with the best cyber technology and making sure your staff is properly trained both of those areas can be very costly. However both of those areas are important and necessary.  So the solution would be to spend smarter and prioritize the needs of your company.  

When determining what’s best for your company you may consider these three questions and they are what is your budget, what outcome do you want and what will you achieve (Unni, 2018). 

There was a study down on the biggest security issues within a company and the top three were phishing, ransom ware, and the cloud (Unni, 2018).  So once you analyze the needs of your company you should focus on areas where the security risk may be less. Once you do this it’s possible to downgrade and use free versions.  The key is to be protected and in a less risky area this would be OK (Unni, 2018). Next If you find that you may be over spending in one area or your finding maybe you aren’t utilizing the software to its fullest downgrade and then spend funds on more critical areas with a more robust technology (Unni, 2018).   Having the right technology to suit your needs is important and you don’t want to waste money on services that don’t deliver any real value. 

As for training there are a couple of things you can do to moderate your budget.  The first idea would be to use your senior employees to coach the junior team and you could also make it apart of their job description (Lowry, 2021).  Also e-learning courses that are made in house or taking e learning classes online would cut down on outsourcing for training.  There are also other memberships and associations that may offer free training events (Lowry,2021).

The essential point is to know and understand the needs of your company. This knowledge will then help you determine what is most impactful to your business.