Cybersecurity and the Cost Centre Myth

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Cybersecurity and the Cost Centre Myth

​It’s time to bust some cybersecurity myths, starting with the biggest one. Cybersecurity is vital, no matter the shape or size of the business, so why is it still seen as a cost centre?

Cybersecurity should be reframed as a profit protector, a revenue defender, or quite frankly, anything more positive than the dreaded ‘cost centre.’

Until CTOs get to sit with the decision-makers of the business, things are going to progress very slowly.

Despite the many data breaches that populate the world’s headlines, countless cybersecurity functions remain understaffed and underfunded.

Here are some reasons to shift the cost-centre narrative and take cybersecurity seriously, the future of business (and the safety of humanity) depends on it!

It’s Vital

The rise of cybercrime and ransomware as an illicit industry cannot be ignored. Between nation-state threat actors, a lower barrier to entry and a host of emergent technologies, protecting businesses against the rising storm is a must.

This doesn’t just apply to large organisations like banks and energy providers either – even the smallest of startups have a duty to protect their customers in the digital space. Ultimately, it’s the consumer that bears the brunt of a successful cyber-attack.

Protecting the interests of the end user is always essential. Reputational damage is extremely hard to repair, and if customers can’t trust a business to look after their data properly, they probably won’t be happy handing over their money in the future.

Conversely, a trustworthy company with a solid cybersecurity function may have an easier time generating custom, especially when over 80% of UK consumers are concerned about the use of their personal data.

A Rewarding Investment

Cybersecurity is a long-term investment. The security space is always changing, whether that’s the tech or the mindset of the threat actor, it’s a constant tug of war.

Investing in security is the best way to develop a solid foundation and set the precedence for a safer future. If the threats continue to evolve in a way that they’ve been doing for decades, failing to evolve the solution will spell disaster.

The better protected your business, the better protected your revenue, reputation, and customer.

A Catalyst for Growth

Growth is tough at the best of times. With the ever-present threat of cybercrime breathing down your neck, wasting money and time on inefficient security is only going to hinder growth.

When backed by an effective strategy, a cybersecurity infrastructure becomes a tactical advantage and a competitive edge in the digital world.

Finding ways to thrive where your competition struggles is one way to differentiate yourself in a saturated market. Reduced financial risk, increased innovation, more consumer trust, satisfied employees, and a focus on the future is a recipe for success.

Finding the Right People

From the great resignation to the mass layoffs, cybersecurity professionals have been facing a tumultuous landscape for a while now, and it makes attracting and retaining them incredibly difficult.

Behind every great cybersecurity infrastructure is an even greater human. If you’re hoping to move away from the cost centre myth and invest in your people, reach out to the team at Broadgate Search today, we have the community-led recruitment solutions to pinpoint the perfect person for you.