- Kateřina Hůtová
- Jan Falc
Cybersecurity is becoming an increasingly important aspect of every business. However, many companies still perceive it as a costly and complicated matter that does not yield immediate profits unless it is at the core of their operations. The truth is that security investments work like insurance – if no incident occurs, they may seem unnecessary, but when a company faces a cyberattack, the damage can far exceed the original costs of prevention.
Risk analysis is crucial
The first step in budgeting for cybersecurity is a thorough analysis of the current state of IT infrastructure and identifying weak points. Besides assessing the current situation, also focus on risk analysis. Consider what is critical for your company: what systems you use, what information is stored in them, how they are protected, and what threats your company faces. This will reveal where you should invest gradually and what needs to be secured. Risks will help you prioritize if you have more gaps than time and budget.
Invest in both, technology and people
Your budget should include not only the costs for hardware, software, and employee training, but also external consultations and potential licensing fees.
- Hardware purchase
- A one-time investment with a lifespan of 5–7 years.
- Costs for implementation and usually annual payments to manufacturers for updates, warranties, and security patches.
- Consider capacity reserves for the company’s future growth, compatibility with existing systems, and requirements for availability or redundancy.
- The purchase typically accounts for 50 % of total costs, 20 % for licenses and warranties, 20 % for implementation, and the remainder for administrator costs.
- Software purchase
- Software purchases represent about 30 % of total costs, 30 % are for implementation, including staff and administrator training, and licensing fees make up around 20 % of the purchase price.
- Administrator workload significantly increases with security software, often requiring advanced technical knowledge.
- Employees
- Training IT administrators and improving internal security rules. The cost of training and retaining quality employees will always be lower than the costs associated with addressing the aftermath of a cyberattack.
Regularly train your employees because most incidents result from human error or insufficient awareness of security threats.
Final advice
Investing in cybersecurity is not a one-time task but a long-term processthat continuously evolves. It’s important to remember two things:
- Don’t try to go from 0 to 100%. It doesn’t work. Based on your analysis and risk assessment, set a timeline for gradual progress and cost distribution. Don’t forget to invest in people.
- Hackers never rest, and threats constantly evolve, just like technology. Therefore, it’s essential to regularly evaluate the effectiveness of your security measures and adjust them to new conditions.
Remember, cybersecurity is not an expense but a necessary investment that protects your company from potentially enormous losses and ensures its stability and growth in the future.
This article was prepared for the online version of Hospodářské noviny.
