Investing in preventative measures is crucial to avoid the catastrophic consequences of cyberattacks, which are becoming increasingly lucrative worldwide. ARG’s new report provides guidance to businesses facing the challenge of cutting expenses while mitigating the rising cost of a data breach.
Expanding on its growing portfolio of exclusive market insights and decision guides, ARG today announced the availability of the Cybersecurity Market Insights & Decision Guide. The latest insights guide, created in partnership with Coretelligent, Expedient, and Ntirety, examines the post-pandemic security landscape. It also evaluates the impact of a data breach on businesses and the benefits of implementing a layered cybersecurity approach to mitigate risks. Furthermore, the guide highlights how AI can enhance a company’s cybersecurity posture.
“Businesses must prioritize building IT with security first,” said Jim Begley, Chief Technology Officer at ARG. “Even with careful planning, a cyber-attack can significantly impact a business. Therefore, it is crucial to constantly improve risk reduction strategies, incident response protocols, business resumption plans, and recovery and restoration procedures. Threat actors are always coming at us in new ways, and businesses must be prepared to respond to any cybersecurity event.”
Cybercrime maturity highlights the need for better decision-making
The world of business technology has undergone significant changes over the past five years, largely due to the shift towards remote and hybrid work models. This has led to a reshaping of the technology delivery model. However, alongside these changes, the landscape of cyber threats has also become increasingly complex. Cybercrime is now a well-established and significant industry in many regions of the world.
Begley said, “Many cybercriminals today use AI-generated emails to target specific individuals through social engineering. They aim to compromise systems via credentials theft, phishing, exploiting vulnerabilities, and botnets. A successful cyberattack can lead to the loss of valuable data, financial losses, reputation damage, and legal liabilities. Investors prioritize cybersecurity when making investment decisions, and as a result, high risk may drive investment money elsewhere.”
Despite the maturity of cybercrime, the human element must be considered. He adds, “The majority of breaches involve human actions. These actions included using stolen credentials, phishing, misuse, and errors. People must be the focus when it comes to addressing cybersecurity.”
Investing in security is crucial in today’s landscape
The Cybersecurity Market Insights & Decision Guide by ARG delves into the impact of cybersecurity on businesses and guides how to convince executive leadership to prioritize investments in cybersecurity. The guide also explains how cyber-attacks occur and highlights the importance of incident response beyond IT-related issues, encompassing factors like effective communication planning, financial implications, operational procedures, compliance requirements, and potential legal consequences. Furthermore, the guide outlines a three-pronged approach for businesses to adopt, which includes implementing multiple layers of security for maximum protection, gaining a comprehensive understanding of data protection measures, and achieving confidence in the organization’s cybersecurity posture.
“Discussing security is crucial for businesses as it poses a risk that can result in devastating impacts,” said David DeCillis, Senior Product Specialist for Network & Security at ARG. “Boards and executives should take the lead in developing strategies to safeguard their assets, employees, reputation, and the confidence of consumers and investors. To do so, a careful and thoughtful approach is necessary as the rapid pace of change and a wide array of choices in the market can be overwhelming for IT organizations that need to balance existing investments.”
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