“Gartner projections show the growth in cybersecurity spending is slowing. Cybersecurity grew at 12% (CAGR) in 2018, and it is projected to decline to only 7% (CAGR) by 2023. Gartner clients are also reporting that after years of quarterly reporting on cybersecurity to their boards, that boards are now pushing back and asking for improved data and understanding of what they have achieved after years of such heavy investment (see “IT Key Metrics Data 2020: IT Security Measures — Analysis”).

Following the Equifax hack in 2017, the CEO stepped down and made very clear that the hack was a fundamental reason for doing so. The final U.S. House of Representatives subcommittee report issued in December 2018 indicated “Equifax’s CEO did not prioritize cybersecurity” (see “8 Reasons More CEOs Will Be Fired Over Cybersecurity Incidents”).

– The Gartner Group

The Problem

Information Security leaders have to demonstrate the value and purpose for each solution that’s purchased and prove the solution that was chosen is doing the job it was procured to do. Executives are therefore requiring Information Security leaders to prove the value of the solutions in ways they understand. They need to see the value not in security metrics but in dollars and cents.

While they understand that the Secure Email Gateway is blocking thousands of malware-laden emails every month, executives do not understand that one successful phishing email could cost the company millions of dollars. A formula that shows the probability of that happening and the lowered risk using the solution against cost of the solution proves value in a way that executives can understand.

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Choices

The total number of cybersecurity companies, covering some 16 security domains, is around 3,500 and growing every year.

This creates an incredible selection of vendors to choose from. Logic might point to a solution (Read more...)