Cybersecurity Risk Remediation: A Non-Negotiable Expense in Times of Financial Crisis
Cybersecurity Risk Remediation
A Non-Negotiable Expense in Times of Financial Crisis
As the media reminds us daily, the U.S. is dealing with an economic downturn. Even the government's efforts to curb inflation through higher interest rates have had unintended consequences, as evidenced by the recent collapse of two major banks. The result is that organizations are enacting a variety of cost-saving measures, including workforce reductions, salary freezes, outsourcing, and departmental budget cuts.
The good news is that forward-thinking enterprises are carefully considering how to adjust budgets and recognize the need to keep and even increase budgets for things that have a large impact on the organization, such as the way a comprehensive cybersecurity simulation program reduces risk.
Prioritizing Security and Risk Management
Although organizations may reduce their overall IT spending, a recent prediction by Gartner suggests that many executives are unlikely to cut back on their budgets for security and risk management. In fact, over the next four years, spending on cybersecurity and risk management technology and services is expected to grow at an annual rate of 11%.
Failing to prioritize cybersecurity — and specifically a risk remediation and continuous training and readiness program for the people in your security operations center (SOC), the last line of defense — can lead to catastrophic outcomes. It makes organizations more vulnerable to the increasing number and sophistication of cyber attacks, resulting in financial loss, reputational harm, operational disruption, and even death.
Uncovering the Crucial Element Missing in Risk Remediation
Today's risk assessment tools focus on compliance, processes, and technology — as they should, but none focus on measuring how well the people in the SOC and incident response (IR) teams actually perform. Cloud Range's platform supplies that missing piece in risk mitigation. It both assesses and improves the competencies of the individuals and the team as a whole. The metrics arm security leaders with concrete data and actionable metrics, enabling them to effectively justify investments in cybersecurity training and readiness initiatives.
Because CISOs and executives can measurably assess how Cloud Range strengthens their SOC/IR and cyber defense teams and lowers risk, they have the proof and metrics needed to prioritize their investment in ongoing readiness training that includes frequent live-fire simulation exercises.
How Cloud Range Can Maximize Cybersecurity Investment
Cloud Range provides military-grade simulation training for enterprise security teams. The cloud-based platform is used to perform live-fire cyber range training through a cost-effective and convenient subscription model. It gives organizations a flexible, scalable program that allows them to start off as simply as they like, and evolve with their changing needs.
Unlike conventional cybersecurity training resources, the Cloud Range platform delivers a comprehensive and full-featured training program designed to provide cyber defense teams with practical and real-world experience. In addition to exercises, assessments, and labs, Cloud Range provides SOC and IR teams with live-fire, instructor-led cyber range training that simulates real attacks — including those based on real-world campaigns and the MITRE ATT&CK database — making responses to cyber threats second nature.
Cloud Range gives organizations access to cyber ranges that accurately simulate their unique technical infrastructure and environment. With Cloud Range, cyber defense teams can enjoy exceptional benefits:
Enable team members to identify and defend against attack vectors in a safe environment
Stay current on emerging threat vectors and maintain specific skills to address them
View metrics that reveal talent risk gaps and where to focus risk mitigation efforts
Run cyber range attack scenarios that are evaluated and assessed in executive debriefs
Refine skills using licensed versions of your organization's authentic security tools
Provide professional development training in multiple SOC functions
Customize training for each trainee based on their individual learning needs and progress
Combat employee complacency by providing consistent training on current attack vectors
Keep team members engaged through a dynamic training environment
Accelerate and optimize the onboarding process for new hires
Organizations that invest in the comprehensive training and development of their cybersecurity teams can reap the benefits of a more confident, prepared, and motivated workforce. With a shortage of skilled cybersecurity professionals, it's crucial for industries to prioritize the assessment, training, and retention of their personnel to ensure a strong risk remediation strategy.
Most organizations seem geared to maintain or increase cybersecurity spending. The key is to focus on people – the biggest asset in your technology stack – and make that investment count. “With any cyber threat, the first and last line of defense is prepared leaders and employees,” wrote Dante Disparte, founder and CEO of Risk Cooperative, and Chris Furlow of the U.S. Chamber of Commerce Cyber Leadership Council. “To prepare for and prevent the cyberattacks of the future, firms need to balance technological deterrents and tripwires with agile, human-centered defenses.”
Investing in cybersecurity provides a substantial return on investment (ROI) because it improves employee retention and reduces the cost of filling vacant positions and losing productivity. Enhanced training empowers employees to serve as a strong line of defense against cyber threats, ensuring the organization's digital assets remain protected. Additionally, if employers focus on fostering employee happiness and career development through a strong learning culture, they can increase job satisfaction and retention rates by up to 50%. A satisfied and well-trained workforce will be more diligent in safeguarding the organization's valuable digital resources.
