If you’re in the process of deciding to make cybersecurity investments, there’s a lot to think about. As a business, you need to have the resources to protect your company and your customers from threats like malware, phishing, and other forms of cyber-attack. The good news is that there are several approaches to helping you justify your cyber investment. Here are some.
SOAR
SOAR is a centralized security platform that offers advanced cyber protection solutions to safeguard against sophisticated attacks. It helps security teams investigate and remediate threats, minimizing the damage to potential breaches.
It combines case management, analytics, and threat detection in one solution. Its innate automation capability enables teams to work more efficiently. It can also speed up incident response time.
The cybersecurity market has hit by a shortage of skilled workers. As a result, companies are often using under skilled staff, which exposes sensitive information. It is important to invest in specialized system security software to close this gap.
Automated solutions like SOAR can help ease the talent shortage. They can also help organizations understand their assets. They can detect threats faster and provide context. This can help prevent false positives, a major issue for security teams.
Non traditional ROSI methodology
The return on security investment (ROSI) is a method to determine the value of a security control. This type of calculation is important to decide about cybersecurity initiatives. ROSI is a complex topic, and can be tricky to calculate.
To achieve a good ROI, you need a solid risk assessment and a comprehensive cost analysis. This article proposes an investment justification process based on the value of cybersecurity initiatives and their impact on the business. It intended for businesses of all sizes.
Several organizations have attempted to justify cybersecurity investments. In some cases, they have used traditional methods such as discounted cash flow calculations. However, these approaches are limited, and in some cases they do not apply to cybersecurity initiatives.
DDOS attack on Dyn
When a large DDoS attack on Dyn hit the web Friday, many websites forced to stop working. Users could no longer access popular sites like Netflix, Reddit, and Twitter.
DDoS attacks are a growing threat, and they can cost organizations upwards of $22,000 per minute in downtime. If you’re concerned about your organization being a victim of a DDoS attack, you should monitor internet traffic to detect potential threats. Having a good incident response plan in place will help you manage losses.
There were several factors that led to the attack on Dyn. First, the attackers used Mirai, a botnet. This malware designed to attack and control IoT devices.
Okta
In a world full of tech companies, Okta has one of the most unique solutions available. It provides privileged access monitoring and identity management. It is also the only cybersecurity company currently not sued.
In fact, it has been the first to take the plunge into the identity management market. A recent survey revealed that 74% of CIOs believe that security is the most important decision when modernizing IT infrastructure.
In this space, Okta has a huge addressable market. It offers over 7,000 integrations. These include Microsoft, Google Cloud, CrowdStrike, and more. They are also partnering with other cybersecurity companies.
Okta’s products have well-deserved goodwill. In particular, the company’s Adaptive Multi-Factor Authentication product provides an extra layer of security to your data. It leverages contextual data from across the Okta network. It has a simple to use UI and includes a policy framework and a comprehensive suite of features.
Crowdstrike
Crowdstrike is a cybersecurity company that is in good shape financially. It has a lot of room for future growth and expected to gain market share against legacy security companies. It has the potential to become a long-term winner of the cybersecurity spending trend.
As an industry, cybersecurity is undergoing rapid change. It is a sector that has plagued by numerous high-flying startups that have fallen into trouble. However, investors are still excited about this space, and several VCs are investing in promising new businesses.
Crowdstrike is a cloud-based threat detection platform that offers endpoint detection and response. It combines behavioral analytics, artificial intelligence, and machine learning to offer better protection.
Zscaler
Justifying cybersecurity investments in a stormy economy can be difficult. However, there are some companies that have stood out.
Zscaler is one of them. The company’s innovative and cloud-native security platform enables users to build secure cloud applications. In addition, it has a growing product portfolio and a strong management team.
With over 450 Forbes global 2,000 companies leveraging its solutions, Zscaler is clearly a leader in cyber security. The company positioned to grow its revenues through continued innovation. The company’s emerging products are proving to be the engine of its growth. Its cloud hyperscaler marketplace channel grew fivefold last quarter.
