What is a cyber security strategy and why is it important?

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A cyber security strategy that is clearly aligned to a business not only helps protect against threats such as ransomware and data breaches but is also paramount to a business being prepared should such an event take place. This preparedness alone can significantly reduce the cost implications to a business but also reduce the reputational damage it might incur. Research has shown that a business that understands its risks and is well prepared not only responds quicker and more effectively to a breach, but it can also reduce the costs by 34 percent.

With the cost of a data breach alone rising by nearly 10 percent in the past year, the highest rate in over seven years, it’s more important than ever for businesses to not only understand their risks but also be prepared for the worst.

This starts with each business unit knowing how to play their part, but to do this they need instruction and guidance – and this is where the cyber security strategy comes in. Without it, their interpretation of what is expected of them could be different to that of the business. Think about baking a cake without a recipe. You have all the ingredients, but without the recipe to follow the result will inevitably turn out different to the intended one. So, the cyber security strategy is the recipe – the plan that all business units can follow to ensure the business is as secure and compliant as it can be.

But what does this look like in practice? Take the marketing department, which is one area you may not traditionally associate with cyber security or risk. However, most marketing departments collect data and it’s how this data is collected, stored, protected and used that’s important. The cyber security strategy will inform the Marketing Director on the expectation of their department when handling this data and it is their responsibility to ensure this is enforced to keep the business secure and compliant in line with business expectations.

So, in short, a cyber security strategy can reduce risks and costs and educate business leaders and their teams on their operational responsibilities when it comes to the security of the business. It is the plan that guides the business to become or remain compliant and secure – the recipe needed for success.

At Chameleon Cyber Consultants, our mission is to use the very latest security thinking, practices and technology tailored to your specific business needs and objectives. If you need help facilitating business success through secure environments, we’d love to chat.

To find out more, visit chameleoncyberconsultants.com

Originally published on Business Reporter