AT THE TABLE:
Developing a Cybersecurity Strategy
Aligning Business, IT, and Security to Build an Effective Cybersecurity Strategy
As the cyber-attack surface grows, organizations face more pressure to protect critical business assets. According to Gartner, 88% of corporate boards regard cybersecurity as a business risk.
1. Source: The 2021 Gartner Global Security and Risk Management Governance Survey
ALIGNING AROUND THE TABLE
How can you help all decision-makers align to a common security strategy and foster greater collaboration with all seats around the table? In a survey conducted by EY,
Effectively and efficiently prevent, detect and respond to threats, address vulnerabilities, protect against data loss, financial loss and operational disruptions, and keep the company out of the headlines
Unified strategy for the board of directors
Security embedded as a core attribute of the entire organization
THE POWER OF ALIGNING AROUND THE TABLE
of organizations say that cybersecurity teams are not consulted or are consulted too late, when leadership makes urgent strategic decisions.
1. Source: EY Global Information Security Survey 2021
Document and report on security incidents
Priority: Preventing, detecting, and responding to threats effectively and efficiently to keep the organization secure.
Monitor and analyze the security posture on an ongoing basis
Influence decision with current pain points and supporting metrics (e.g. time to respond)
Advocate to invest in strong threat prevention, vulnerability assessments, and early threat detection
ROLE IN THE DECISION
Moving beyond tactical day-to-day
Balancing limited resources against volume of alerts
Keeping up with the speed of vulnerabilities
Using tools that enhance SOC capabilities and accessing security experts when needed
THINGS TO CONSIDER
VP OF IT
Make choices that mature the organization’s cybersecurity program
Priority: Elevating the cybersecurity program
Educate, inform, and support the efforts of the board of directors and the company to reduce cybersecurity risk
Ensure executive leadership understand the importance of cyber security funding
Maximize value from existing and new security investments
Driving the business to adapt to an ever-evolving threat landscape
Recruiting and retaining talent in a hyper-competitive employment landscape
Detecting and responding to increasingly sophisticated adversaries and their attacks
Negotiate cyber insurance policy and legal retainers
Priority: Protect the business from financial risk of a cyber breach
Obtain hard metrics to justify spend on cyber projects
Manage risk and compliance
Maximize existing security investments to optimize financials (CapEx vs. OpEx)
Balancing priorities and investment across the business
Protecting the company from reputational, financial, and operational risks
Lacking cybersecurity experience that considers business objectives
Rapidly implement new tech to adapt to a changing operational climate
Priority: Align IT initiatives with cybersecurity programs
Effectively communicate to the board of directors on current security posture/risk to business as changes to IT take place
Meet customer and regulatory audits and avoid surprises that could threaten revenue stream
Maximize value from existing and new technology investments without overspending and duplication
Delivering on many competing operational priorities and expectations
Producing insights and reporting to convey current and ongoing security posture to stakeholders
Having too many point products to manage
VP OF IT
Security being an afterthought at the end of a project -- because not all IT experts are security experts
IDENTIFY THE PROBLEM
Follow these four steps to get alignment across IT, Security, and the Business.
MAKING GOOD DECISIONS
IDENTIFY THE POTENTIAL VICTIMS
IDENTIFY THE POTENTIAL DAMAGES
MAKE A BUSINESS CASE
Scaring leadership doesn’t work. Instead, outline how your work impacts company business goals. A business case is your opportunity to speak the C-Suite’s language. Doing so will garner leadership support key to your success. This should be done at the earliest stages of investment decision-making.
Cybersecurity is everyone’s challenge. According to a 2022 survey from ESG, 79% of organizations report having experienced a ransomware attack within the last year. The average cost of a breach is $4.87m with a lifecycle over 200 days. A loss of that size has the potential to impact many departments in the company.
• ESG: The Long Road Ahead to Ransomware Preparedness, March 2022
• Ponemon Cost of a Data Breach Report 2021
Cyberattacks impact everyone from customers to partners to employees. In fact, non-IT departments are a big target. These workers may be using vulnerable systems for hackers to manipulate, and yet they often store valuable information.
The current state is unsustainable. According to the World Economic Forum, 59% of business feel unprepared to respond to a cybersecurity incident due to the shortage of skills. Cybersecurity is a growing challenge, but your internal resources are likely shrinking. That might be why just 9% of boards are exteremely confident in their organization’s cybersecurity risk and mitigation measures down from 20% in 2020.
• World Economic Form Global Cybersecurity Outlook 2022
• EY Global Board Risk Survey 2021
HOW SECUREWORKS CAN HELP
Our battle-tested, best-in-class cybersecurity solutions reduce risk, optimize IT and security investments, and fill your talent gaps.
We deliver solutions by security experts for security experts to prevent, detect, and respond to continuously evolving and diversifying threats and vulnerabilities. We provide over 98% coverage against most categories of the MITRE ATT&CK framework.
We continuously gather and interpret telemetry from your infrastructure, including endpoints, networks, cloud, and identity systems, to identify and prioritize the most serious threats while maximizing ROI of your existing investments. A Total Economic Impact (TEI) study by Forrester found that Secureworks customers can reduce risk by 85% with an average savings of $1M over 3 years.
OPTIMIZE IT AND SECURITY INVESTMENTS
Taegis XDR automatically prioritizes and validates alerts to enable security teams to work efficiently on the most pressing threats. Whether using our standalone SaaS or leveraging fully managed XDR, or somewhere in-between, direct access to Secureworks security experts acts as a force multiplier for collaborating on detection and response.
FILL TALENT GAPS
HOW SECUREWORKS HAS HELPED OTHERS
“Leadership asked what it would cost us to deal with ransomware. I told them $2 million – each time – and you could get bit 3 or 4 times in a year. I said, ‘I can guarantee that if you don’t do anything, you will have an attack that will cost you several million dollars.”
- IT Risk & Compliance Manager
“Investing in ManagedXDR is more cost effective for us than building out an internal SOC, I gain immediate access to a deep bench of very skilled, cross-disciplinary cybersecurity team members, and I lower my overall risk profile. This is a great win for us.”
- CIO, Superior Credit Union
“It saves us money and time, and hundreds - if not thousands - of hours a year. The migration to XDR has been a phenomenal step for us.”
- VP of IT and CISO, Rollins
“For the current year, it saved us over half of what we were planning to spend on an in-house solution. It was pretty cut and dried.”
- Director of IT Infrastructure & Ops, Firma FX
“We generate around 2 billion events each month. With Secureworks, we are able to crunch down that number to 20-30 high fidelity alerts — and that makes my team's job much easier.”
- Head of Cyber and Information Security, Minter Ellison
Read Forrester’s Total Economic Impact Study to learn about the cost savings and business benefits of Secureworks Taegis ManagedXDR