This statistic is alarming and underscores the importance of having a robust cybersecurity program in place. According to the Ponemon Institute, the average cost of a data breach is $3.8 million. This means that organizations need to do everything they can to protect their data and keep their networks secure.
Any business attempting to stay ahead of current cyber threats needs a comprehensive security operations center (SOC). To be prepared, an enterprise requires experienced professionals who utilize the best technologies available for identifying and resolving issues.
A new report from threat prevention provider Perception Point and research group Osterman Research indicates that businesses pay an average of $1,197 annually per employee in response to email service-, cloud collaboration app- or web browser-related incidents.
According to recent research, the average 500-employee company spends a whopping $600,000 annually just to fix cybersecurity issues. And that doesn't include other potential business losses such as compliance fines or mitigation fees they might have to pay. With an upcoming recession in 2023, organizations are feeling immense pressure to save money and figure out their best security approaches.
“In terms of the potential risk and damages — prevention of attacks has a greater financial impact on the organization,” said Michael Calev, Perception Point’s VP of corporate development and strategy.
Stopping spam and phishing emails not only saves SOC teams time and budget, but most importantly reduces the extremely expensive need for remediation and post-breach management.
Full article at: https://venturebeat.com/security/cybersecurity-incidents-cost/