Mohamed Marjook Hussain, Regional Technical Head of ANZ and APAC, ManageEngine, says that when it comes to cybersecurity, the adage is true: You get what you pay for.
With the mounting economic pressures facing Australians today, it comes as no shock that organisations are constantly looking for ways to reduce costs. This is especially true for those undergoing unprecedented technological transformations. However, cutting corners in certain areas – especially cybersecurity – can have serious consequences.
If cybersecurity isn’t viewed as an absolute priority as organisations streamline operations and adopt new technologies, they can easily miss critical errors that leave their infrastructure vulnerable to attacks.
A short-term fix
Adopting reactive cybersecurity is one of the major mistakes organisations make when cutting costs. Reactive, rather than proactive, cybersecurity strategies entail investing in cybersecurity after experiencing a breach or detecting an imminent threat.
This approach often results in hastily made decisions, where new technologies are deployed without a thorough understanding of the organisation’s current infrastructure or unseen vulnerabilities.
Rushing to implement security tools without proper planning leads to gaps in protection. For example, organisations may unwittingly introduce new security technologies without integrating them with their existing systems. This fragmentation leaves areas of the network exposed, as certain parts of the system may not be compatible with the new tools.
Businesses must take time to assess their security needs comprehensively before making changes to their security strategies.
Legacy struggles
Many organisations are in the process of upgrading legacy systems to more modern, cloud-based solutions. While outdated, these legacy systems are deeply integrated into business operations, and moving away from them can be complex.
In an attempt to cut corners and costs, organisations may push through that transformation without fully considering whether their existing applications and infrastructure can support new technologies. This is a disaster waiting to happen.
The SMB challenge
While large organisations have the resources and manpower to invest in cybersecurity, small to medium-sized businesses (SMBs) are often left in the dark. This is further compounded in Australia, as the cybersecurity and IT sector skills shortage makes it increasingly difficult for SMBs to find and retain qualified professionals.
Many smaller organisations cannot afford to employ full-time cybersecurity experts, let alone establish a security operations centre (SOC) to monitor threats continuously.
This lack of resources leaves SMBs particularly vulnerable to cyberattacks. Without the manpower or financial capacity to maintain robust security protocols, these businesses are left relying on outdated technologies or insufficient third-party solutions.
The dilemma of vendor dependency
SMBs that rely heavily on third-party vendors for their IT infrastructure find themselves at the mercy of the vendor’s capabilities, solutions, and timelines. In many cases, vendors provide fast access to new technologies, enabling their clients to keep pace with the latest developments in cybersecurity. However, not all vendors are created equal. In some cases, vendors can be limited or slow in their offerings and services, leaving organisations stuck with outdated and vulnerable systems.
This dependency becomes even more obvious when organisations try to cut costs by limiting internal IT resources. Relying on third-party vendors may seem like a cost-effective solution, but it can backfire if the vendor cannot meet the organisation’s evolving needs.
It’s essential that companies evaluate their vendor relationships and ensure they partner with those who are committed to staying ahead of cybersecurity threats.
When all else fails, back it up
One of the most important areas to keep off the cost-cutting list is backup and recovery systems for data loss prevention.
If the organisation falls victim to a cyberattack, having a vague recovery plan is not enough. It must be comprehensive, tried, tested, and regularly updated. It must cover technology, communication, regulatory and reporting requirements, and stakeholders. Importantly, the recovery plans must evolve with the threat landscape.
The adage is true: You get what you pay for. Your organisation can’t afford to cut corners when it comes to cybersecurity – and it must be kept off the chopping block.
