Most IT managers, CISOs, entrepreneurs and others in critical roles at organizations understand the gravity of data breaches and cyberattacks.
This recognition of the threat landscape necessitates a robust cybersecurity strategy. A recent study by Cloudflare* earlier this year further emphasizes this need:
- 39% of Belgian companies expect a cyber attack this year.
- 58% of Belgian companies expect the scale of attacks to increase.
- 23% of compromised companies had to lay off employees following a cyber attack.
And here's the striking part: despite their concerns, only 27% of respondents say they are prepared for an attack. This is alarmingly low. The reason? Numerous challenges delay or even prevent decisive action on the implementation of an effective cybersecurity strategy.
1. Complex Cyber Threats Outpace Scarce Security Expertise
Cybercrime is evolving rapidly, with new attack methods constantly emerging. Criminals are becoming more inventive, and their attacks increasingly sophisticated.
Organizations aiming to protect themselves face a growing challenge: they must navigate a complex landscape of technologies, systems, IoT devices, and platforms. While there are numerous tools and solutions available to combat cybercrime, the real question is: which ones does your organization truly need? The measures you may have implemented in the past quickly become obsolete and, therefore, are no longer secure. The complexity of the situation often overwhelms even the most seasoned IT professionals, making it difficult to identify the optimal solutions for intricate IT infrastructures.
These challenges demand specific expertise and skills. However, this brings us to the next major hurdle: finding that level of expertise is next to impossible. There simply aren't enough qualified applicants to fill the overwhelming amount of cybersecurity vacancies.
2. Budget Constraints
Many organizations operate within limited cybersecurity budgets, which can restrict their ability to implement comprehensive security measures.
Most well-known cybersecurity vendors design their solutions for large enterprises. These solutions are often high-end, overly complex, and prohibitively expensive for smaller companies. The cost of hiring cybersecurity engineers and analysts further adds to the financial burden.
If you're working with a limited budget, AXS Guard offers affordable pricing tailored for smaller organizations, with full transparency. Explore AXS Guard's Observe & Protect Pricing to learn more.
3. Cybersecurity: A Continuous Journey
The rise of technologies like cloud computing, IoT, and AI introduces new security challenges and vulnerabilities. Keeping all your security software and hardware up to date is no easy task.
While it's ideal to have someone in your organization continuously monitoring your network for early detection of anomalies, this is often not realistic.
4. Cybersecurity: A Cultural Blind Spot
People and users remain the weakest links in cybersecurity, and technology alone can't solve that. When your cybersecurity strategy isn't ingrained in your corporate culture, it signals the need for changes in mindset and behavior.
This is the real challenge: while most people express a desire for change, few are willing to change themselves. New security procedures often meet with resistance. Employees who are uninformed, careless, or unwilling to adapt pose a significant risk to your security.
5. Questioning the ROI of Cybersecurity Investments
Balancing the cost of security measures against the expected reduction in risk and potential damage is a constant challenge. Corporate management needs to see a clear ROI on their security investments.
Without a demonstrable ROI, you likely won't achieve organizational buy-in, and good cyber hygiene won't become part of the company culture. It all begins with the conviction, support, and commitment of corporate management.
6. Agility
How swiftly and effectively does your organization detect and respond to cyber incidents? Responding to cyber incidents requires agility. The rapidly evolving threat landscape demands organizations to be swift and adaptable in their response.
7. Finding a Trusted Cybersecurity Provider
There are numerous providers of cybersecurity solutions and IT resellers or integrators ready to support you. However, many make similar promises, but the reality can differ significantly. Expertise, pricing, technology, integration, support, and services can vary widely between providers. Small businesses often require a different solution, approach, and level of service than large enterprises. This means that smaller companies might find reseller X more suitable, while larger organizations might be better served by reseller Y.
Additionally, you must decide which approach aligns best with your organization: a best-of-breed solution or an all-in-one package? This choice will play a crucial role in selecting the right IT reseller or integrator.
Click here for an overview of Certified AXS Guard partners and IT resellers.
8. Navigating the Legal Landscape
Your organization's cybersecurity strategy isn't determined solely by internal decisions or your cybersecurity provider. Compliance with laws and guidelines is also crucial. You must adhere to both national legislation and European regulations.
Intended to safeguard citizens and infrastructure rather than impose burdens, these regulations reflect Europe's growing concern over online threats. The continent increasingly recognizes the imperative for robust cyber hygiene.
European guidelines, such as the GDPR, AI Act, NIS1, and NIS2, mandate specific measures for organizations, impacting their cybersecurity strategies, data handling, and business operations. Compliance with these guidelines can be challenging.
Note that the official deadline for implementing the NIS2 guidelines is October 17, 2024.
Need advice regarding your organization's NIS2 compliance or to tackle other cybersecurity challenges? Don't hesitate to contact us for guidance and support.
The 8 Hurdles in Cybersecurity Strategy Implementation