Getting a return on investment (ROI) from your cybersecurity or compliance program is essential for businesses to remain competitive in the digital landscape. Here are some tips for achieving ROI out of these programs:
1. Implement preventive measures: To ensure maximum protection, it is important to invest in preventive measures that can help prevent data breaches and other security incidents before they occur. This includes implementing firewalls, anti-virus software, threat intelligence solutions, and other proactive tools. Additionally, businesses should invest in employee training on proper cybersecurity practices, such as using strong passwords and avoiding clicking on suspicious links.
2. Utilize analytics: Companies should take advantage of analytics-based solutions to monitor the network for signs of intrusions or suspicious activity. By proactively searching for anomalies, organizations can identify vulnerabilities before an attack occurs and make the necessary changes to address any risks. This can save time and money by reducing costs associated with responding to a breach after it has occurred.
3. Automate compliance processes: Keeping up with regulations can be a daunting task if done manually; however, automation can help streamline compliance processes and save costs associated with manual labor. Automation also reduces human error while ensuring accuracy when checking documents against regulatory standards.
4. Invest in data governance policies: Data governance policies are essential for defining how data is utilized within an organization so that it always remains secure and compliant with your organizations regulatory landscape. These policies define roles and responsibilities around data management as well as controls for accessing sensitive information and procedures for handling personal data safely and securely.
5. Leverage managed services: Organizations may consider investing in managed services such as cloud computing or outsourcing IT operations to providers who specialize in cybersecurity or compliance programs so they don't have to manage the underlying technology themselves. Managed services offer companies access to resources without having to buy them outright, which can reduce overhead costs significantly over time.
6. Saving time and money: With an implementation of a compliance program, your organization may be able to achieve discounts in cyber insurance policies by simply following standardized documented best practices. When an organization achieves certification for compliance programs, it provides the client base with an overall assurance that their data is safe with your organization and its cyber safety. Saving time is always essential for any organization. By providing a certification certificate with a list of all applicable controls satisfies some third-party vendors questionnaires.