There are many costs and benefits of developing cybersecurity programs in business, but none are as important as the prevention of data breaches, the money that is spent on training personnel on the best and most up-to-date cybersecurity practices, and buying cybersecurity programs for business. Preventing data breaches is monumental to the health and success of any business, in fact, According to a report published by the Identity Theft Resource Center (ITRC), a record number of 1862 data breaches occurred in 2021 in the US. And do not think for one second that those data breaches are cheap because each one can cost up to $4.35 million. \u201cIn 2022, the average cost of a data breach has reached a record high of US $4.35 million, according to the 2022 cost of a data breach report by IBM and the Ponemon institute.\u201d Training personnel on the most up-to-date cybersecurity practices also brings a price tag. As reported by Consillien, \u201cSecurity Awareness Training is relatively inexpensive, ranging from $10-$60 per employee per year.\u201d This is a major asset for businesses because although the training of their employees is inexpensive it reduces the chances of a higher payment, perhaps a ransomware settlement of $170,000 from happening to a business. Last but certainly not least is the cost of purchasing cybersecurity programs like firewalls, intrusion detection systems, antivirus software, and other IT solutions which can cost up to $250,000 for an entire company as highlighted by Imagine IT, \u201cCompanies spend $250,000 on cybersecurity solutions and training with annual IT budgets of $2.5M.\u201d In order to keep the systems and networks of a business safe some serious dough has to be spent annually. In short, there are various costs and benefits to developing cybersecurity programs in business but none are as important as avoiding data breaches, properly training employees, and buying IT and Cybersecurity solutions.
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There are many costs and benefits of developing cybersecurity programs in business, but none are as important as the prevention of data breaches, the money that is spent on training personnel on the best and most up-to-date cybersecurity practices, and… Continue Reading →<\/a><\/p>\n","protected":false},"author":25789,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","wds_primary_category":0},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/posts\/27"}],"collection":[{"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/users\/25789"}],"replies":[{"embeddable":true,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/comments?post=27"}],"version-history":[{"count":2,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/posts\/27\/revisions"}],"predecessor-version":[{"id":30,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/posts\/27\/revisions\/30"}],"wp:attachment":[{"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/media?parent=27"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/categories?post=27"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/student.wp.odu.edu\/agarc038\/wp-json\/wp\/v2\/tags?post=27"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}