Cybersecurity: Costs and Benefits

Two of the most influential factors, I feel, when implementing a cyber security system within a business are the costs and benefits.

When determining what your costs are going to be, you should first determine your budget. Without knowing how much you can spend, you’re likely to run into spending issues. You also need to know what your risks are. How many assets do you have the need protecting? Are you planning on using WiFi? What assets require an internet connection to function? These are just a few questions that must be asked. Once they’ve been answered, you can determine what you need to purchase. Research should be done to ensure you don’t spend more than is necessary. Do you only have one computer that connects to the internet for processing credit card transactions? You’re not likely to need a firewall and router that is enterprise grade and costs thousands of dollars. Do I have a server room that houses confidential government data? If you do, you’re likely to need a much more robust network infrastructure.

Benefits are a little easier to analyze. The overall benefits of implementing cyber security systems can range from obtaining contracts for government work to protecting your company assets. When viewing the benefits of a particular piece of your cybersecurity system, you should take into account the costs associated it. If the more expensive piece of equipment only has one or two extra features, is it possible to work around not having those features to save money? Do you really need those extra features? Would using the less expensive equipment hinder operations? In the end is boils down to make sure you don’t spend more than you need to. This completes the circle that is cost and benefits.

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