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Axiotrop Blog

Strengthening your Cybersecurity Shouldn’t be a Cash Drain

The threat of a breach is forever present and increasing, as we all know from daily media reports. This isn’t surprising; we live in a networked world with growing online collaboration with customers, suppliers, and other partners for myriad reasons.

However, business executives, particularly those from smaller or mid-market companies, are bombarded with recommendations to buy this technology or that tool to further protect their companies. For many, doing so eats into cash reserves and increases the risk of a breach rather than lowering it.

In August 2022, Forbes cites a study of cybersecurity professionals at the June 2022 RSA conference, with over 50% stating that they have wasted more than half of their cybersecurity budget and still cannot remediate threats. This is a worrisome situation.

We believe there’s a better way to strengthen cybersecurity and not squander cash, the lifeblood of every company.

• First, review business priorities and compare them to your current cybersecurity program. Ask what’s recently changed that requires cybersecurity-related changes.

• Next, identify cybersecurity program gaps and organize them by criticality. Addressing some gaps will substantially lower risk, while others will take more time, effort, and cash to close and, therefore, may take lower priority.

• Subsequently, establish a roadmap to close those gaps and execute the steps gradually over time.

Taking a business-first, holistic approach helps reduce redundancy and wasted effort. Or, more accurately, ensures risk-reducing redundancy where you want it and not where you don't. Avoid the waste of paying for multiple tools that do the same thing while simultaneously running the risk of having security gaps where tools are missing the mark. This approach preserves critical cash for more important priorities such as growth initiatives, M&A activities, or retaining key talent.

Cybersecurity efforts shouldn’t be a cash drain; they should support business goals, not constrain them.

About Axiotrop, LLC.

AXIOTROP’s mission is to make cybersecurity accessible, attainable, and sustainable for small and medium-sized businesses so they remain competitive and poised for growth. We simplify cybersecurity by working closely with businesses to right-size their program for their needs, resulting in client retention, business expansion, and reduced risk.

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