Making the Case for Investing in Proactive Cyber Security Testing

June 9th, 2020

Proactive or preventative cyber security testing continues to be an afterthought in today’s conversations around breach preparedness. In this Forbes article, for example, the author suggests establishing an incident response plan, defining recovery objectives and more, all of which are necessary – but there’s no mention of investing in enterprise security testing tools and penetration testing services that boost your cyber security posture in the first place.

Sure, it can be difficult to make a business case for the C-suite to invest in an intangible that doesn’t directly result in new revenue streams. Historically, though, breaches cost companies millions and sometimes billions of dollars, proving that a ‘dollars and sense’ case can be made for preventative cyber security testing.

Even when a case is made to the board and funding is available, enterprise security teams struggle to be proactive because they are constantly reacting to the threats already looming in their network, lack adequate staffing, and the pace of vulnerabilities continues to outpace the business. So, how can the C-suite and security teams come together to prioritize the urgency of implementing a proactive cyber security testing program? How can we communicate that the upfront planning and set up is a proactive investment that will help eliminate the financial and time strain of a reactive-forward cyber security program?

The reality is that cyber security breaches today are inevitable and put organizations at grave risk. To help your security team make the case for prevention-based security investments, such as penetration testing and adversarial simulation, here are three recommendations that will get the attention of C-suite executives and help your security team remain proactive:

 

Translate the Impact of a Breach into Dollars and Sense that the C-Suite Understands

In today’s digital world, data is more valuable than ever and more vulnerable. So, how can you best communicate this heightened value of data security and risk to your leadership team? By speaking a language they understand. First, shift your mindset from talking about “cyber security and compliance” to “customer safety and quality services;” these terms will resonate better with the C-suite.

Next, be prepared to talk financial risk. Annually, IBM and Ponemon Institute release the Cost of a Data Breach Report, which includes a calculator based on industry and cost factors – such as board-level involvement, compliance failures, and insurance – to determine the potential financial impact of a breach. Use this resource to calculate your own organization’s estimated cost of a data breach.

A simple calculation case study: In the United States, if an attacker compromises just 5,000 records, it could cost your organization over $1 million (based on the average cost of $242 per lost record). This case demonstrates the cost of a smaller-scale breach – in fact, the average size of a data breach in the United States in 2019 is 25,575 records, resulting in an average cost of $8.2 million per breach. Compare that to the average cost of a vulnerability management or penetration testing program, and your case to the executive team is pretty simple. Notably, loss of customer trust and loss of business are the largest of the major cost categories, according to the report. The study finds that breaches caused a customer turnover of 3.9 percent – and heaps of reputational damage.

Lastly, use examples in your respective industry as proof points. For example, if you’re in the financial services industry, reference other breaches in the sector and their associated cost. It’s important to clearly communicate the reality of what happens when your organization is breached to get the C-suite on board for more cyber security spend. Sharing concerning results of reactive cyber security strategies helps executives see the benefit of investing in proactive security measures to prevent a breach from happening in the first place.

Five Metrics to Showcase the ROI of Pentesting

Help Leaders Understand Cyber Security Testing’s Role in a Crisis Preparedness Plan

A data breach is a common crisis scenario for which every business should plan. It should be discussed in tandem with other risk scenarios like natural disasters, product recalls, employee misconduct, and conflict with interest groups, to name a few. As with any disaster preparedness program, documentation and reporting are critical. Specifically, documentation of your vulnerability testing results and remediation efforts should be viewed as a tool to inform leaders about the organization’s exposure to risk, as well as its ability to prevent breach attempts from being successful. Cyber security weaknesses to look for from an organizational standpoint include lack of continuous vulnerability testing and patching, untested incident response plans, and limited training and security awareness programs. These three key areas can turn into the “Achilles heel” of any organization’s security posture if not addressed and implemented properly.

 

Position Your Pentest Team as an Extension of Your Own Security/IT Team

According to a survey we conducted earlier this year, over 80 percent of security leaders say lack of resources keeps them up at night. And for some time now, the cyber security industry has suffered a skills shortage. While companies are eager to hire cyber security experts to address the ever-evolving threat landscape and avoid the high costs of a breach, there aren’t enough people who can fill these roles. According to the latest data from non-profit (ISC)², the shortage of skilled security professionals in the U.S. is nearly 500,000.

Hiring outside cyber security resources is one solution to this demand conundrum. Time is invaluable, so if you propose to hire new vendors, it’s important from the start to position the white hat testers to your executives as an extension of your own team. It is the responsibility of both corporate security practitioners and vendors to find ways to work collaboratively as one team.

Pentesting is a great example of the importance of collaboration in cyber security. Traditionally, pentesters complete their engagement, hand off a PDF and send the internal team off to remediate. With the emergence of Penetration Testing as a Service (PTaaS), pentesters not only perform an engagement, they also conduct more deep-dive manual tests, continuously scan for vulnerabilities to deliver ongoing pentest reports in an interactive digital platform that separates critical vulnerabilities from false positives (a time-consuming activity for your in-house team) and serve as remediation consultants for your organization. Make it clear to your C-suite that vendor relationships are changing and cyber security testing vendors can serve as a solution for current cyber security skills gaps within the business.

When the C-suite and IT and security departments are disconnected on priorities, the risk of a data breach increases. Learn to speak the language of your executive leaders and communicate the true value of proactive security measures. Effective communication around the potential financial impact of a breach, where vulnerability testing fits in a crisis preparedness plan, and ways to solve cyber security talent shortages, can result in additional budget for proactive cyber security testing and other security initiatives.

Aaron Shilts

Aaron Shilts, Cybersecurity Company, Cybersecurity Leadership

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