Maximize Cybersecurity Returns: 5 Key Steps to Enhancing ROI

Define objectives: Before committing resources, it's crucial for organizations to understand what they desire from their cybersecurity investments. No matter how technologically advanced, any tool is only as good as the strategy behind its deployment. Organizations must set distinct and tangible goals, such as achieving enhanced network transparency, thwarting ransomware, or shortening incident response times. With clear objectives in place, resource allocation becomes more purpose-driven and strategic.

Conduct a comprehensive risk assessment: Understanding your current cybersecurity posture is the first step toward improving it. Ask questions like: Which threats loom largest on the horizon? Which organizational assets find themselves in the crosshairs of these threats? What avenues are attackers most likely to use to penetrate our defenses? Use the answers to develop a quantifiable cyber-risk score. Frameworks like the one the National Institute of Standards and Technology (NIST) has created can be invaluable in this process. Additionally, implement tools and best practices that provide deep insights into the network's structure to identify potential vulnerabilities and integral network connections. Then, you can implement the right solutions to reduce risk and build resilience.

Incorporate cybersecurity objectives into broader business goals: Cybersecurity should never operate in isolation. When security goals resonate with the business's aspirations, gaining buy-in from senior management, including the C-suite and the board, becomes easier. It fosters a climate of shared responsibility and collective engagement, streamlining the implementation and augmenting the impact of security protocols. It's critical to present security as a growth facilitator rather than just a necessary cost center.

Establish practical and measurable KPIs: The allure of a quick fix or a silver bullet solution is undeniable — and unrealistic. Setting tangible and achievable key performance indicators (KPIs) is essential when gauging the efficacy of security investments. Defining a realistic evaluation period, such as six months, within which to achieve a specific, relevant outcome can offer a clear window to measure returns and assess impact, allowing organizations to make more informed, data-driven future decisions.

Evaluate vendors thoroughly: Organizations should be examining solutions that can address various security challenges, demanding evidence and demonstrations that substantiate vendor claims, and proactively discussing how vendors can support organizational goals within defined timelines. Third-party validations and tests, primarily from esteemed agencies such as analyst firms like Forrester and Gartner or penetration testers like Bishop Fox, can add an extra layer of credibility to vendor claims.