You know the statistics. You’ve seen the headlines. Now, you’re trying to do the right thing, but are you running around in the dark? And is this causing you to pay too much money for your cybersecurity?
You’re investing in tools because they’re supposed to be keeping your team and data safe.
So, every month you’re shelling out fistfuls of money dedicated specifically to cybersecurity. But here’s the question of the hour: Are you paying too much?
Did you know that In today’s security climate, most businesses overspend on their cybersecurity platform because they are so focused on adding new tools to their security stacks, they aren’t thinking about what’s actually needed?
I’ve been seeing IT directors and Managed Services Providers who are trying to do the right thing still end up with ransomware attacks and data breaches. They’re paying the money and buying the tools, but they’re still being hit.
Why?
Spending money, even on cybersecurity, won’t help if it’s not being done effectively. Let’s consider 3 reasons why you might be wasting your money.
Reason #1: You buy tools simply because they’re new
New = good
Right?
Well, not always, especially in an industry that is continually evolving. Investing in new ideas should help, especially as new attacks are devised, but if you’re not careful this can become a frustrating puzzle where real solutions illude you.
The problem is that there is no one golden answer to solving our security challenges. The real question is whether you’re addressing your network’s true vulnerabilities, not whether you have the newest tools. If you don’t ask the right questions, you might actually be creating a false sense of security by trusting the wrong tools to protect you.
Reason #2: Your security tools aren’t doing what you expect
More than half of the cybersecurity industry’s money is invested in marketing. Really good marketing. They have shiny new websites. Great branding. And they’re communicating all sorts of features.
I’ve seen some pretty great marketing, but I’ve also seen inaccurate marketing. An ad may be persuasive, but it may not accurately reflect how a tool works. It simplifies the concept or simply scratches the surface around the extremely complex security problems your organization faces. Their solution seems eloquent and often times a no-brainer, but it doesn’t truly work for you.
So, what am I talking about here?
- Tools that actually disrupt things: These are the tools that users may need tools turned off to get specific work done. This is an extremely common issue with a variety of tools.
- Tools that require you to train them: Some tools rely on your team training them. If you don’t put in the time, some security tools will never work. They require a lot of time to train your team and to effectively implement. And if your environment changes, you likely will have to retrain many tools to understand what has changed.
Tools may make very specific promises, but those promises often come with caveats.
Reason #3: You don’t have a cyber strategy
In your effort to add security tools, are you reassessing your needs as you go along or simply adding items?
It’s vital to have a strategy that takes into consideration the following:
- What are the most important parts of your business?
- What data is critical and is it the focus of your tools?
- Do your core processes work with or against your security program?
If you layer tools within your environment, you may end up assuming everything is okay, when you still have gaping holes.
So, what you want to do is invest time in planning and a strategy. This will help alleviate much of your spending AND reduce your security risks. Without taking this step, your team is likely overinvesting time, energy and money in certain areas and ignoring other more important risks.
Security is a moving target. So are your risks. If you don’t evaluate where those risks are and how to address them—whether with specific tools, changes to process, or a combination—you may be putting your organization at risk of an attack even if you’ve invested considerable amounts in your security program.
Successful companies invest in risk management.
The security puzzle boils down to assessing and managing risk. Managing risk means knowing the following:
- Where are your critical data assets?
- How accessible are they?
- What are the potential worst case “what if” scenarios? Are you comfortable with the outcomes?
Until you start evaluating your risk and understanding how to mitigate, manage and accept different risks on your network, you’re in the dark and potentially wasting time and money.
