However, Hannan argued, there could also be a silver lining for CISOs. Numerous the normal cybersecurity finances arguments — model repute, compliance prices, privateness points, knowledge leakage, and so forth — are beginning to put on skinny with their CFO and CEO audiences.
Not so with price will increase, which may undermine the enterprise’s aggressive place. Data-breach price pass-alongs might doubtlessly affect market share — the type of factor that grabs CFO, CEO, and even board consideration. Which may, Hannan stated, give senior administration purpose to rethink CISO finances requests.
“The potential for elevated costs and diluted competitiveness offers CISOs with a compelling argument to safe acceptable funding for cybersecurity initiatives,” Hannan stated. “It demonstrates that the price of inaction — each in monetary phrases and in reputational injury — far outweighs the price of sturdy security packages.”