#7 Costs and Benefits of Developing Cybersecurity Programs in Business

When developing programs in a cybersecurity business, there are plenty of costs and benefits to it. We’ll starts with the costs, otherwise known as the cons. First of all of course, is the initial investment, not just monetarily but also time wise. This also includes technology, software, hardware, infrastructure. All of this goes into purchasing things such as firewalls, anti-virus software, detection systems, encryption tools and plenty of other security solutions that would be necessary. Next is the training and education of new employees. Employees must always be taught new things, especially in cybersecurity because technology is always evolving. These new things that need to be taught include every evolving technology, new security protocols, and to stay updated on all emerging threats. This costs a great deal of money if you want your employees to get the correct, most up to date, and best education and training all around. One of the last but most important investments is risk management. Investing into risk management tools that include regular security audits which are used to identify any vulnerabilities that can be breached that would need financial resources to fix. Next is the Benefits. First, is protection of assets, which any good and established cybersecurity program will have. A cybersecurity program will protect any valuable customer data, intellectual property, financial information, and reputation from any cyber attack or breach. Next is good customer trust, which will needed to be built in all good cybersecurity programs. By creating good trust and reassurance with a consumer, it will create trust and loyalty by the customer in return to the company, and this will lead to this always remaining and also more potential clients due to the customer bragging. The last is enabling innovation, because a safe IT environment will bring new innovation to the program because it will provide a safe space to employees to explore different technologies.