ROI of Penetration Testing
ROI of Penetration Testing
You may already have a group of Information Technology professionals, and spend money on security tools to alert, detect, and quarantine security anomalies, so why would you even need to spend money on a penetration test?
Well, just like any other investment in a business, the return on investment (ROI) is a great way of finding out if putting in that money will give you something in return. However, it is challenging to calculate the return on investment of a penetration test compared to other investments. We have all heard the saying, “an ounce of prevention is better than a pound of cure.” This is the case when it comes to cybersecurity.
Just like seeing your doctor for a checkup is a preventative measure, even if you don’t have any specific symptoms, think of an ethical hacker like your doctor and a penetration test like routine blood work. The test tries to find your company’s security weaknesses, helping to fix your security before your company gets attacked; building your immune system before you get sick. Carefully weighing the potential drawbacks of worst-case security-related situations is crucial when evaluating the ROI of such testing. The following are the most notable examples:
Early Mistakes Get the Remedy
What would you prefer: finding the security weaknesses yourself or waiting for a hacker to do so? The answer is pretty obvious, right? Every software patch or upgrade presents the potential for a brand-new vulnerability to appear. However, identifying and fixing such weaknesses before hackers exploit them will spare you a lot of trouble. Financially speaking, you will reduce your risk of having to pay penalties, experience lost revenue, and pay hefty ransom demands. The sooner you find these weaknesses, the better! The more money your business generates, the more expensive it becomes every day you are offline.
Gaining a Competitive Edge
Imagine having a data breach and taking months to get your company back. Just think about all the business you could have done during this time. While having a data breach may not be very likely, it is becoming more common and not a chance you should be willing to take. The money you would have spent on testing would seem like peanuts compared to the money you will lose due to months of being inactive. Isn’t this ROI enough?
No Expensive Experimentation Due to Expert Oversight
Without a pen test professional conducting the assessment for you, everything becomes guesswork. When you don’t know precisely where the problem is, the normal solutions are to do nothing or spend a little bit of money in several places in the hopes it all comes together. But results from a professional penetration test help organizations prioritize their security efforts based on the most critical needs. Recommendations are outlined clearly and provide practical yet cost-effective methods for reducing risk. Again, it’s not about how much you spend as it is where you spend it!
The reputation of your business will unquestionably suffer if there is a data breach, especially if it is made public. Consequently, customers may lose trust, which leads to lower sales and profits. Chances are investors will become concerned about this, and your company’s share price will be impacted. While larger companies may have it easier regarding their reputation, smaller companies do not have the same advantage. Like the general public, the IT sector is not very tolerant of businesses that can’t secure their customers’ data. And when you can’t keep it secure, people will stop giving it to you.
Rivalry and Competition
It will be terrible if you lose your company’s confidential information, especially if it ends up in the hands of competitors. While your rivals likely won’t launch cyberattacks against you, they could still be able to obtain this information through other means. Cybercriminals like sharing their achievements on open platforms, offering this data for purchase on the dark web. Just imagine what this information could do to your income if it ends up in the hands of rival companies. In life and business, it is usually the thing we don’t see coming that causes the most damage. We prepare for every eventuality; then can’t believe how we could get blindsided. No one thinks a cyber breach can happen to them, but that is not true anymore. Our team of professionals makes it a point to prepare for what you aren’t, which could be good news for your business.
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You may already have a group of Information Technology professionals, and spend money on security tools to alert, detect, and quarantine security anomalies, so why would you even need to spend money on a penetration test? Well, just like any…