IT Knowledge Base

Budget Cybersecurity and Cost Effective IT Support

Why Is Budgeting For Cybersecurity Important?

Cybersecurity should be a part of your business and budget. The cost of a data breach vs the ROI of a cybersecurity program is a factor to consider. How much to spend on cybersecurity is up to the business owner; however, ensuring your data is protected is a must. Maximizing your investment to protect your company is key.

How Much Does A Data Breach Cost?

Recent studies have shown that the average cost of a data breach to small businesses can range from $120,000 to $1.24 million AUD, and that’s strictly limited to the small business market. Stepping outside the small business filter, IBM’s Cost of a Data Breach Report found that the average cost of a data breach was $3.92 million AUD, and that breaches cost smaller businesses more (relative to their size) than they cost large businesses.

The true cost of a data breach isn’t always immediately known. Expenses can be spread out over time, with about one-third of the expenses becoming apparent the first year following the breach. Cybersecurity can help mitigate the damage and reduce the cost of a data breach.

Security

What Do You Need To Secure On Your Network And Devices?

  • A firewall to protect your network from external threats.
  • Anti-malware software to protect your devices from malware and viruses.
  • A VPN to encrypt your data and keep it private.
  • Password management software to help you create and manage strong passwords.
  • Two-factor (or multi-factor) authentication (2FA) to add an extra layer of security to your accounts

How Much Should You Spend On Cybersecurity?

Businesses’ spending on cybersecurity, relative to their total budgets, varies widely by industry and from organisation to organisation. A good starting point is to allocate a percentage of the total cybersecurity budget to each of the five categories outlined above.

How RSA Can Help With Identity Risks

RSA can help you manage your cybersecurity with integrated risk management, threat detection and response, identity and access management, and fraud prevention. A key part of this cybersecurity is secure access through SecurID.

The SecurID Suite allows businesses (and larger organisations) to mitigate identity risk and maintain compliance without impeding user productivity. SecurID ensures users have appropriate access permissions and it confirms who they are. At a management level, SecurID Suite provides visibility and control across many aspects of identity – using the RSA Identity and Access Management Risk Intelligence Index.

RSA can help secure and control the identity risks within your business, thanks to:

  • SecurID Access simplifies authentication and credential management.
  • SecurID Access provides passwordless, hardware, software and mobile options.
  • SecurID Governance and Lifecycle ensures users have appropriate levels of access and management have visibility over this.

Why Choose Compnow For Cost-Effective IT Support

Compnow has been providing IT support to businesses for over 25 years. In that time, we have built up a wealth of experience and knowledge in all areas of IT, from infrastructure and networking to cybersecurity and cloud computing.

RSA is a world leader in cybersecurity, with a range of products that can protect your business from the latest threats. RSA products are easy to use and bring immediate value to your organisation.

Contact us today to get a demo of our products or speak with one of our Compnow experts on 1300 266 766. We can arrange a meeting to discuss how we could help, or book a time that suits you to meet with us in person.

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