Modern boardrooms increasingly understand the importance of cybersecurity to the business. A recent report by insurer Hiscox claims that two-thirds of organizations in the UK, US, Germany, the Netherlands, and Spain rank cyber as the top risk to their business alongside fraud. However, that same report reveals the majority of firms as “cyber-novices” when it comes to the quality and execution of their security strategy.

A major challenge is defining how much time, budget and effort you need to spend, and in what areas of the cyber landscape. The problem here is that if cybersecurity is working well, you won’t see any obvious return on your investment. The fact that nothing is happening is precisely the result of good security: no impact on staff productivity, no breaches of sensitive data, no service outages. In these terms, spending money on a cyber-attack that ‘might’ happen can be difficult to justify when there are many other digital priorities to consider. It has often lead to organizations having a flat or minimal budget approach.

Panaseer understands that there is no such thing as 100% security. But to avoid becoming the next TalkTalk, or Yahoo, you first need better insight into your IT Risks and then you need to be able to translate those into business risks to ensure you have the appropriate level of controls in place. Without this insight into your Risk Appetite, you can’t start to drive a risk-based approach to security or even begin to understand if you have the right budgets or ROI measures in place.

Cyber Capital HQ partners with Panaseer to bring an inside-out perspective on a company's security posture and visibility on an IT estate, working with organizations to help them establish their risk appetite and define a risk-based approach to security.