CISOs’ Tactics to Win Every Budget Battle>
Bit Sight – Rachel Holmes
A recent report from Forrester called CISOs’ Tactics to Win Every Budget Battle suggests that companies turn towards “growing revenue, customer retention, and operating in specific verticals and regions” to gain security budget. In fact, Forrester highlights a methodology that demonstrates how cybersecurity spending directly impacts revenue—for the positive. 3 Stakeholders Who Influence Security Spending 1. Customers. According to a report from Gartner®, “56 percent of customers are now expressing frequent interest and concern in the cybersecurity posture of the organizations that they do business with.” Forrester concurs, stating “third parties can undermine years of work.” 2. Cyber insurers. Insurers look at how resilient a company is to withstand or quickly recover from cyber events to provide the right coverage. Insurance companies review variables like patching rates, endpoint protection, and vulnerability management to underwrite and price policies. 3. Regulators. There are major shifts in the way regulators view cybersecurity. From the SEC considering new regulations that would require expanded disclosure to the marketplace, to new U.S. legislation requiring cyber incident notification to government agencies, to the EU’s formal adoption of DORA, cybersecurity programs are under greater scrutiny from regulators and investors alike
Link: https://www.bitsight.com/blog/cisos-tactics-win-every-budget-battle