Security leaders and CISOs (Chief Information Security Officers) are under growing pressure to communicate the cyber security value to the board before something wrong happens. Usually, like insurance, its value is sought after something terrible happens; the same analogy applies to cybersecurity. Furthermore, every individual in an organization has a different perspective on cybersecurity, which makes it harder to convince them to invest in cybersecurity.
Cyber security is increasingly becoming a board-level issue. This is primarily because of growing concerns about the regulatory, reputational, and financial implications of data breaches and major security failures. With the evolving attack tactics and sophisticated planning, security leaders will need to overcome their traditional communication challenges and find a way to convey the actual value of cyber security and its implications in terms of business damage in the event of an attack or breach.
A Neustar International Security Council survey in November 2022 unveiled that only 49% of the companies have the requisite budget to implement their cybersecurity requirements. This indicates that only half of the companies receive enough funds and resources to enforce cybersecurity strategies.
Why do CISOs need to improve their communication with the board significantly?
The lack of effective communication between the security officer and the executive board is sometimes the primary reason companies fail to implement robust security practices to cover their specific needs and protect their mission-critical assets. PwC’s annual corporate director's survey finds that merely 41% of the directors think that their board members understand the cybersecurity risks “very well.” The sole reason is that both board members and CISOs speak different languages.
This difference of opinion is because 80-90% of the time, most board executive members are non-technical individuals and have no real cybersecurity experience. This natural deficiency makes the whole scenario challenging for the board to understand the correlation between cybersecurity risks and business goals.
Tips for Communicating Cyber Security With the Board
Let us go through the 6 tips for effectively communicating with the board:
1. Use metrics that relate to business goals
The security team should convey the metrics that align with business goals instead of mentioning the x amount of malware blocked, y amounts of attacks mitigated, and z number of vulnerabilities detected. Instead, metrics should be related directly. For instance, metrics could highlight how effective security measures maintained sales volumes by preventing disruptive attacks, or how robust security policies attracted new customers by enhancing the company's reputation for data protection. This approach links security efforts to business growth and customer trust, making the value of cybersecurity more apparent to stakeholders.
2. Speak the board’s language
Adapting your language for the intended audience ensures your message is heard. Try to simplify the language and avoid using technical jargon and terms that will make the board more confused rather than convincing. Furthermore, using full forms and complete descriptions instead of acronyms unfamiliar to the board facilitates understanding the message. Try your best to present the information in business language while using visuals such as graphs and diagrams that enhance message sharing and help achieve the goal.
3. Defend the implementation of new security practices/measures
Executive and C-level people are very picky; without proper justification, they may not be willing to invest in new solutions. It is your job as a CISO to show the board that the new processes or tools align with our organization’s goals and objectives. Demonstrate that the new tools comply with the regulations and can avoid fines and legal issues by investing in cybersecurity effectively. Finally, explain to the board that with the correct set of tools and security measures in place, an organization can boost its customer base and prevent revenue or reputation losses.
4. Keep reports brief and on-point
While presenting in front of the board, you may be tempted to share complete insights and as much information as possible. However, this approach may turn them down, and the presentation may not receive due attention and focus from board members. Demonstrating only the most significant aspects without getting into tiny details is essential.
Diverging focus on the bigger picture for the organization's best interest will keep them hooked and subtly share details where necessary. Mention the potential influence of security events on company reputation, innovation, overall productivity, and revenue generation while briefly discussing and describing the information technology controls and processes.
5. Stay prepared to answer questions and objections
Board members should and will ask questions during the presentation. CISO and security team should prepare the answer ahead of commonly asked questions such as:
- How are our competitors doing to defend themselves against cyber-attacks?
- How do our security measures align with our business goals?
- Have we tested incident response strategies and disaster recovery methodologies?
- What steps are we taking towards the evolving threat landscape?
These are just a few examples; questions mainly involve what the board is most concerned about at the given moment.
Prepare strong arguments to defend your proposal and convince the board to approve the shared cyber-security plan.
6. Emphasize that the cost of cybercrime is higher than investing in cybersecurity
Cost is the most important deciding factor for any organization and for the board itself. It is your job as a CISO to emphasize that investing in cybersecurity is a cost-effective measure compared to the potential financial damage caused by cybercrime. According to Forbes, the projected costs of data breaches reach $4.88 million on average in 2024. The upfront cost of investing in cybersecurity may seem high, but it pales away when considering the cost of reputational damage, loss of revenue, and legal and regulatory fines.
Ultimately, investing in cyber security strategies is not just an expense but rather a necessity for the business's long-term survival.
How Sangfor is shaping the future of a safe and secure business landscape
Sangfor’s proven cybersecurity services and solutions provide cutting-edge solutions to enhance productivity while ensuring that organizations remain cyber-safe and vigilant from evolving cyber-attacks and cybercrimes.
- Sangfor’s Network Secure NGFW: Sangfor Network Secure is a next-generation firewall that employs AI technology, cloud threat intelligence, and other state-of-the-art security features to protect organizations from external threats. Network Secure offers superior malware detection with a groundbreaking detection rate of 99.76% by leveraging Engine Zero. The use case of Sangfor’s NS-NGFW includes but is not limited to fool-proof perimeter security, ransomware protection, web application security, and secure SD-WAN and WFX.
- Sangfor's Cyber Command: The solution enhances network security through advanced detection and response capabilities. Sangfor Cyber Command is a Network Detection and Response (NDR) solution that collects data from various sources in real-time to provide contextual information for security events. It offers end-to-end network visibility by monitoring both North-to-South and East-to-West traffic with the Golden Eye feature. The solution leverages artificial intelligence and advanced machine learning technologies, making cyber threat hunting easier. It detects threats with high precision, helping security teams make informed decisions and significantly reducing the time and effort spent on investigations.
- Sangfor’s Cyber Guardian MDR: Cyber Guardian MDR offers a fully managed security service that provides 24/7 real-time threat monitoring and response to protect against cyberattacks. It employs Human-Machine intelligence to accurately detect and thwart threats. It addresses common security challenges while delivering context-aware threat notifications and response assistance. This unique service enhances the organization's security posture. The use case of MDR includes round-the-clock monitoring without much technology overhead and access to top-notch security professionals to deal with security incidents.
- Sangfor’s Endpoint Secure: Endpoint Secure provides a unique approach to defend the systems from malware and APT threats. This solution surpasses the current next-generation Anti-virus and endpoint detection and response solutions. Sangfor’s Endpoint Secure offers a holistic approach to World-Class Malware Detection and APT breaches by examining the organization’s entire network while providing ease of management, operation, and maintenance. The solution is highly flexible to meet the needs of any organization that requires on-premises management, cloud management, or a hybrid solution regarding endpoint security, protection, detection, and response.
- Sangfor’s Access Secure (SASE): Sangfor Access Secure is a comprehensive SASE (Secure Access Service Edge) solution that offers advanced SD-WAN capabilities and ZTNA (Zero Trust Network Access) security. It is a high-performing, secure, and reliable solution to access cloud services and applications. Sangfor Access Secure significantly reduces the Total Cost of Ownership (TCO) by consolidating multiple network functions into one and saving costs for security services, saving on hardware, licensing, and maintenance costs. Use case includes but is not limited to a hybrid work environment ensuring seamless and secure connectivity for remote access to corporate resources and applications, boosting productivity, and ensuring business continuity.
Wrapping Up
Communicating the value of cyber security to the board is critical for any organization. By understanding the board’s language, focusing on business goals, and emphasizing the cost of cybercrime vs. the upfront cost, CISOs can effectively communicate their message if they invest in cybersecurity. Sangfor offers a range of cyber security products and services that can help organizations stay secure and protect their mission-critical assets. From Network Secure NGFW to Cyber Command NDR, Cyber Guardian MDR, Endpoint Secure, and SASE, Sangfor provides cutting-edge solutions to ensure organizations remain cyber-safe and vigilant from evolving cyber-attacks and cybercrimes.
