Cybersecurity threats are rising, costing businesses billions of dollars annually. With the proper cybersecurity training, CEOs can protect their stock prices from dropping and lower the operational impacts and costs of cyber breaches. Cybersecurity training helps CEOs safeguard their business information and maintain trust in their brands. Investing in training to have a skilled cyber workforce seems obvious. The ROI is simple to quantify based on the average cost of $4.35 million for cyber breaches based on the joint report from IBM and Ponemon Group.
For example, in 2017, the Equifax breach caused a share price drop that peaked at 31% a week after its disclosure and took almost two years to recover. Marriot was sued hours after disclosing a data breach in a class-action lawsuit seeking $12.5 billion. Zappos recently settled a seven-year class-action complaint in which lawyers claimed $1.6 million. The simple message is that investing in the proper cyber security training, live-fire exercise, and security technology optimization cost far less than the impact on market value, brand reputation, and cash settlements. According to research done by Comparitech:
When organizations think about cybersecurity, they often see the cost of breaches as a calculated part of their risk management strategy. However, security can now be a strategic differentiation tool. It can be a new reason to pick your organization versus competitors. Many new regulations like Cybersecurity Maturity Model Certification (CMMC) now require you to provide proof of your security posture. A comprehensive cybersecurity strategy can drive business growth and improve the bottom line when implemented correctly. However, the problem with cybersecurity is that organizations only realize its actual value once an incident occurs, and it is too late. Conventional thinking could lead to organizations missing the competitive and strategic benefits of a cohesive and visible cybersecurity strategy. At the end of the quarter and the year, spending on the proper training will prevent breaches, create a new competitive advantage and add to the bottom line.
Here are five ways investing in military-grade cyber ranges for elite cyber training will help your company improve the bottom line, protect your brand and ensure your stock price is not adversely impacted:
Cybersecurity training is essential for organizations to protect their networks, brands, and stock prices from rising cybercrime threats. Cybersecurity-savvy employees have the skills to recognize potential attacks before they happen, allowing them to act quickly and reduce or eliminate costly security breaches. By investing in military-grade cyber ranges for elite cyber training, companies can improve the bottom line, protect their brand and ensure their stock price is not adversely impacted.
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