January 17th, 2023
4 Ways To Improve Your Cybersecurity Budget This Year
Joe Petre – Vice President – PLEX Cyber
Penetration testing is a valuable tool for demonstrating the need for security initiatives and budget to decision makers within an organization, too bad it’s often used to simply check a box for compliance! By conducting regular penetration tests, organizations can proactively identify and fix vulnerabilities before they are exploited, improving the overall security posture of the organization. I’m about to give you 4 solid ways you could be using penetration testing to help increase and fine tune your cybersecurity budget this year.
One of the main benefits of penetration testing is that it can help organizations gain budget for security initiatives by demonstrating the real risks and consequences of not investing in cybersecurity. When decision makers can see the potential vulnerabilities and weaknesses in the organization’s systems and networks, it becomes easier to make the case for allocating budget to address these issues. For example, if a penetration test reveals that a company’s web application is vulnerable to a particular type of attack, the security team can use this information to make a strong case for investing in additional security measures to protect against this type of threat.
In addition to demonstrating the need for security initiatives, penetration testing can also help organizations identify specific areas where investments in cybersecurity will have the greatest impact. By conducting regular penetration tests, organizations can prioritize the most critical vulnerabilities and allocate budget to address these issues first. This helps ensure that resources are being used effectively and that the organization is making the most of its security budget.
Another way that penetration testing can help organizations gain budget for security initiatives is by demonstrating the return on investment (ROI) of these investments. By identifying and fixing vulnerabilities on an ongoing basis, organizations can significantly reduce the risk of data breaches and other cyber-attacks. This not only helps protect the organization’s assets and reputation, but it can also lead to tangible financial benefits. For example, a company that suffers a data breach may face costly fines, legal fees, and lost business as a result. By investing in security initiatives and conducting regular penetration tests, organizations can mitigate these risks and potentially save money in the long run.
In addition to demonstrating the need for security initiatives and the ROI of these investments, penetration testing can also help organizations prioritize their security budget and allocate resources effectively. By identifying the most critical vulnerabilities and allocating resources to address these issues first, organizations can ensure that they are maximizing the impact of their security budget.
Overall, conducting regular penetration tests is a valuable tool for demonstrating the need for security initiatives and budget within an organization. By identifying vulnerabilities and prioritizing the most critical issues, organizations can make a strong case for investing in cybersecurity and allocate resources effectively to maximize the impact of these investments.