Cybersecurity Investment Strategies for CIOs

Turning Cyber Risk Into Boardroom Metrics That Matter - Forbes Cybersecurity has always come with a translation problem. Technical teams speak in terms of vulnerabilities and threats, while boards want to understand risk in dollars and business impact. As attacks become more costly and regulatory scrutiny grows, however, the gap between technical risk and business accountability is shrinking fast. The Boardroom Is Asking New Questions Boards and executives increasingly want to know: How much risk are we taking on, in real financial terms? Are cybersecurity investments justified? Are we actually reducing exposure—or just reacting to the latest crisis? All fair and valid questions. The pressure to answer these questions isn’t just external. Internally, organizations are moving away from blank-check security budgets. Leaders expect to see risk—and progress—quantified in business language: dollars, business impact, and return on investment. From Jargon to Dollars It is an eternal struggle. For most companies cybersecurity is a cost center, not a revenue-generating function. The better cybersecurity is at achieving its stated objectives, the less necessary it seems—if there are no successful attacks, why spend so much money on defending against them? Cyber risk quantification is quickly gaining ground as a bridge between IT and the C-suite that addresses this challenge. The promise is simple: turn technical scenarios into dollar-based outcomes so everyone is on the same page. CRQ platforms don’t just talk about possible vulnerabilities—they show what a breach could really cost, how an investment reduces exposure, and where risk is shifting across the organization. This approach is becoming the new standard as boards and regulators demand clear evidence of measurable progress. A New Player in the US Market The changing landscape is driving international players to expand their presence. Squalify, a Munich-based cyber risk quantification provider, just announced its U.S. entry, launching with a Bay Area healthcare customer. The company’s platform, backed by Munich Re’s cyber loss data, aims to help organizations move from reactive, compliance-based security toward proactive, ROI-driven strategies. #cybersecurity #CyberRiskQuantification #CRQ #boardofdirectors #riskmanagement #ROI

Cybersecurity Insights from the 5 and 5 Series with Ashwin Krishnan & Kevin Gowen, CISO at Synovus! 🌟 Key Takeaways: > Kevin delves into the intricacies of demonstrating the ROI on security investments, underscoring the importance of articulating risks and impacts in business terms. A direct calculation may be complex, but it’s vital! > The evolving integration of third-party bodies and open-source components is a cybersecurity challenge. Kevin advises focusing on managing this ecosystem and employing technology to oversee integrated systems. > Assessing the maturity of security programs and staying ahead of emerging threats is crucial. Understanding the cyber risk component is fundamental for business decision-making and investment prioritization. These insights are indispensable for organizations aiming to fortify their cybersecurity posture and make informed business decisions. Be sure to watch the full video for a deeper dive into these invaluable insights and strategies! Video: https://lnkd.in/gPZDHggR ___________________________ Hey, CISOs! Let's elevate your cybersecurity career: 🔒Follow the National Technology Security Coalition for more industry insights 🌐Join NTSC today to get exclusive access to briefings, updates, and events with CISOs, policymakers, lawmakers, and experts leading the national cybersecurity policy discussion Click here to learn more: https://lnkd.in/exi-px3b ___________________________ #Cybersecurity #CISO #Technology #Security #Business

Helping a client out on storytelling their value proposition. This is my own philosophy, but I welcome feedback on its value... Here is the foundational philosophy:   1.   Time is the currency of life.   2.   The business of business is business.   3.   Its goal is to provide more value to more customers through more channels at ever increasing velocity.   4.   Technology strategy should be leveraging the latest innovations to enable those business outcomes.   5.   Cybersecurity strategy should be protecting to enable those technology and business outcomes.   6.   Under-investing in Technology manifests itself in a phenomenon known as “Technology Debt” or Tech Debt.   7.   This debt gradually compounds like a bad credit card debt and increases organizational process viscosity.   8.   High process viscosity inhibits the ability to take full advantage of technological innovation as technology debt builds.   9.   Within that debt lies technical complexities due to legacy dependencies.   10.Complexity is the enemy of good security and compels you to invest in various point solutions to deal with edge cases.   11.You end up with a security program tools stack not built on sound architectural principles, but because of growing edge cases becomes un-wieldy.   12.Simultaneously, a foundational rule in cyber security is that the efficacy of your controls, degrade over time.   13.This is a sinking ship.   14.CSOs need to qualify and quantify their Value at Risk (VaR). PII is $165 per record based on the lates IBM Breach report.   15.They need to inventory their data to comprehend their data’s Volume, Value, Variety, Variability, Velocity, Vintage, Vulnerability, and Veracity of the first seven Vs, and calibrate the confidence.   16.Then you need to look at your cybersecurity stack and measure the value you are receiving from those solutions factoring the human time to calculate Total Cost of Ownership of your cybersecurity program.   17.Quantify the spend on people, process, and technology, don’t forget about insurance.   18.Then do a mapping exercise, where your solution help the prospective client execute an “Addition Through Subtraction” exercise.   19.If you add your product or service….   20.What people can you re-purpose for higher value work?   21.What time consuming processes can you stop?   22.What technology can you eliminate?   23.What is the total cost savings of this exercise that improves security and makes you more cost efficient?   24.Value added security includes “Simplicity-as-a-Service”.   25.This leads to the “Great 8 Habits” of Cybersecurity builders.