• Support
  • Login
  • Contact
  • Blog
  • Support
  • Login
  • Contact
  • Blog
SecurityScorecard SecurityScorecard
  • Products
    PRODUCTS
    • Security Ratings
      Identify security strengths across ten risk factors.
    • Security Data
      Get actionable, data-based insights.
    • Security Assessments
      Automate security questionnaire exchange.
    • Attack Surface Intelligence
      NEW
      On-demand contextualized global threat intelligence.
     
    • Automatic Vendor Detection
      Uncover your third and fourth party vendors.
    • Cyber Risk Quantification
      Translate cyber risk into financial impact.
    • Reporting Center
      Streamline cyber risk reporting.
    • SecurityScorecard Marketplace
      Discover and deploy pre-built integrations.
    BUY NOW
    • Compare All Plans
      Choose a plan that's right for your business.
    • Try Free Account
      Make informed decisions with confidence.
    • Buy Pro Now
      Add automated event responses.
    • Buy Business Now
      Expand on Pro with vendor management and integrations.
    • Request Enterprise Demo
      See the capabilities of an enterprise plan in action.
    icon__SSClogoMark icon__SSClogoMark

    Understand and reduce risk with SecurityScorecard.

    Free account sign up
  • Services
    SERVICES NEW
    • Digital Forensics & Incident Response
      Prepare to respond to any threat.
    • Third-Party Risk Management
      Reduce risk across your vendor ecosystem.
    • Cyber Risk Intelligence
      Partner to obtain meaningful threat intelligence.
     
    • Penetration Testing
      Uncover your vulnerabilities before an attack does.
    • Red Team
      Use scenarios to perform a simulated attack.
    • Tabletop Exercises
      Test your incident response plan & bolster your readiness.

    Under Cyber attack?

    Contact us for immediate support if you believe your organization is the victim of a cyber attack.

    Contact Cyber 911 Team
  • Solutions
    BY USE CASE
    • Compliance
    • Cyber Insurance
    • Digital Forensics
    • Due Diligence
    • Enterprise Cyber Risk
    • Executive-Level Reporting
    • Incident Response
    • Regulatory Oversight
    • Third-Party Risk
    BY INDUSTRY
    • Critical Infrastructure
    • Enterprise
    • Financial Services
    • Government
    • Healthcare
    • Insurance
    • Retail & Consumer
    • Technology
    Help your organization calculate its risk
    View All Solutions
  • Customers
    OUR CUSTOMERS
    • Customer Overview
      Trusted by companies of all industries and sizes.
    • Peer Reviews
      Find out what our customers are saying.
    SUCCESS AND SUPPORT
    • Customer Success
      Receive award-winning customer service.
    • Support
      Get your questions answered by our experts.
    COMMUNITY
    • SecurityScorecard Connect
      Engage in fun, educational, and rewarding activities.
    • Connect Login
      Join our exclusive online customer community.
    icon__SSClogoMark icon__SSClogoMark
    Understand and reduce risk with SecurityScorecard.
    Free account sign up
  • Partners

    Partner Program Overview

    Partner with SecurityScorecard and leverage our global cybersecurity ratings leadership to expand your solution, deliver more value, and win new business.

    Learn more
    • Locate a Partner
      Access our industry-leading partner network.
    • Value-Added Resellers
      Enter new markets, deliver more value, and get rewarded.
    • Managed Service Providers
      Meet customer needs with cybersecurity ratings.
    • ISAC Partner Program
      Learn more about the industries we support and ISAC member benefits.
    • Technology Alliances
      Access innovative solutions from leading providers.
    • SCORE Portal Login
      Use the SCORE Partner Program to grow your business.
    • SecurityScorecard Marketplace
      Find a trusted solution that extends your SecurityScorecard experience.

    Understand and reduce risk with SecurityScorecard.

    Free account sign up
  • Resources
    RESOURCES
    • Resource Center
      Explore our cybersecurity ebooks, data sheets, webinars, and more.
    • SecurityScorecard Blog
      Read the latest blog posts published weekly.
    • Research & Insights Center
      Access our research on the latest industry trends and sector developments.
    • SecurityScorecard Academy
      NEW
      Complete certification courses and earn industry-recognized badges.
    TOOLS AND DOCUMENTATION
    • Free Security Rating
      Get your free ratings report with customized security score.
    • Product Release Notes
      Visit our support portal for the latest release notes.
    • Free Account Signup
      Start monitoring your cybersecurity posture today.
    • Chrome Extension
      NEW
      Show the security rating of websites you visit.
    • Assessments ROI Calculator
      Calculate the ROI of automating questionnaires.
    Trust begins with transparency. Take a look at the data that drives our ratings.
    Learn more
  • Company

    Working at SecurityScorecard

    Committed to promoting diversity, inclusion, and collaboration–and having fun while doing it.

    Join our team
    • About Us
      SecurityScorecard is the global leader in cybersecurity ratings.
    • Leadership
      Meet the team that is making the world a safer place.
    • Press
      Explore our most recent press releases and coverage.
    • Events
      Join us at any of these upcoming industry events.
    • Policy Insights
      Raising the bar on cybersecurity with security ratings.
    • Careers
      APPLY TODAY
      Come join the SecurityScorecard team!
    • Contact Us
      Contact us with any questions, concerns, or thoughts.
    • Trust Portal
      Take an inside look at the data that drives our technology.
    • Help Center
      We are here to help with any questions or difficulties.
Request a demo
SecurityScorecard SecurityScorecard
  • Support
  • Login
  • Contact
  • Blog
  • Support
  • Login
  • Contact
  • Blog
SecurityScorecard SecurityScorecard
  • Products
    PRODUCTS
    • Security Ratings
      Identify security strengths across ten risk factors.
    • Security Data
      Get actionable, data-based insights.
    • Security Assessments
      Automate security questionnaire exchange.
    • Attack Surface Intelligence
      NEW
      On-demand contextualized global threat intelligence.
     
    • Automatic Vendor Detection
      Uncover your third and fourth party vendors.
    • Cyber Risk Quantification
      Translate cyber risk into financial impact.
    • Reporting Center
      Streamline cyber risk reporting.
    • SecurityScorecard Marketplace
      Discover and deploy pre-built integrations.
    BUY NOW
    • Compare All Plans
      Choose a plan that's right for your business.
    • Try Free Account
      Make informed decisions with confidence.
    • Buy Pro Now
      Add automated event responses.
    • Buy Business Now
      Expand on Pro with vendor management and integrations.
    • Request Enterprise Demo
      See the capabilities of an enterprise plan in action.
    icon__SSClogoMark icon__SSClogoMark

    Understand and reduce risk with SecurityScorecard.

    Free account sign up
  • Services
    SERVICES NEW
    • Digital Forensics & Incident Response
      Prepare to respond to any threat.
    • Third-Party Risk Management
      Reduce risk across your vendor ecosystem.
    • Cyber Risk Intelligence
      Partner to obtain meaningful threat intelligence.
     
    • Penetration Testing
      Uncover your vulnerabilities before an attack does.
    • Red Team
      Use scenarios to perform a simulated attack.
    • Tabletop Exercises
      Test your incident response plan & bolster your readiness.

    Under Cyber attack?

    Contact us for immediate support if you believe your organization is the victim of a cyber attack.

    Contact Cyber 911 Team
  • Solutions
    BY USE CASE
    • Compliance
    • Cyber Insurance
    • Digital Forensics
    • Due Diligence
    • Enterprise Cyber Risk
    • Executive-Level Reporting
    • Incident Response
    • Regulatory Oversight
    • Third-Party Risk
    BY INDUSTRY
    • Critical Infrastructure
    • Enterprise
    • Financial Services
    • Government
    • Healthcare
    • Insurance
    • Retail & Consumer
    • Technology
    Help your organization calculate its risk
    View All Solutions
  • Customers
    OUR CUSTOMERS
    • Customer Overview
      Trusted by companies of all industries and sizes.
    • Peer Reviews
      Find out what our customers are saying.
    SUCCESS AND SUPPORT
    • Customer Success
      Receive award-winning customer service.
    • Support
      Get your questions answered by our experts.
    COMMUNITY
    • SecurityScorecard Connect
      Engage in fun, educational, and rewarding activities.
    • Connect Login
      Join our exclusive online customer community.
    icon__SSClogoMark icon__SSClogoMark
    Understand and reduce risk with SecurityScorecard.
    Free account sign up
  • Partners

    Partner Program Overview

    Partner with SecurityScorecard and leverage our global cybersecurity ratings leadership to expand your solution, deliver more value, and win new business.

    Learn more
    • Locate a Partner
      Access our industry-leading partner network.
    • Value-Added Resellers
      Enter new markets, deliver more value, and get rewarded.
    • Managed Service Providers
      Meet customer needs with cybersecurity ratings.
    • ISAC Partner Program
      Learn more about the industries we support and ISAC member benefits.
    • Technology Alliances
      Access innovative solutions from leading providers.
    • SCORE Portal Login
      Use the SCORE Partner Program to grow your business.
    • SecurityScorecard Marketplace
      Find a trusted solution that extends your SecurityScorecard experience.

    Understand and reduce risk with SecurityScorecard.

    Free account sign up
  • Resources
    RESOURCES
    • Resource Center
      Explore our cybersecurity ebooks, data sheets, webinars, and more.
    • SecurityScorecard Blog
      Read the latest blog posts published weekly.
    • Research & Insights Center
      Access our research on the latest industry trends and sector developments.
    • SecurityScorecard Academy
      NEW
      Complete certification courses and earn industry-recognized badges.
    TOOLS AND DOCUMENTATION
    • Free Security Rating
      Get your free ratings report with customized security score.
    • Product Release Notes
      Visit our support portal for the latest release notes.
    • Free Account Signup
      Start monitoring your cybersecurity posture today.
    • Chrome Extension
      NEW
      Show the security rating of websites you visit.
    • Assessments ROI Calculator
      Calculate the ROI of automating questionnaires.
    Trust begins with transparency. Take a look at the data that drives our ratings.
    Learn more
  • Company

    Working at SecurityScorecard

    Committed to promoting diversity, inclusion, and collaboration–and having fun while doing it.

    Join our team
    • About Us
      SecurityScorecard is the global leader in cybersecurity ratings.
    • Leadership
      Meet the team that is making the world a safer place.
    • Press
      Explore our most recent press releases and coverage.
    • Events
      Join us at any of these upcoming industry events.
    • Policy Insights
      Raising the bar on cybersecurity with security ratings.
    • Careers
      APPLY TODAY
      Come join the SecurityScorecard team!
    • Contact Us
      Contact us with any questions, concerns, or thoughts.
    • Trust Portal
      Take an inside look at the data that drives our technology.
    • Help Center
      We are here to help with any questions or difficulties.
Request a demo
SecurityScorecard SecurityScorecard
BLOG

How to Justify Your Cybersecurity Budget

09/14/2020

Looking towards 2021, cybersecurity will continue to remain an organizational priority. Research from Cyber Defense Magazine estimates cumulative cybersecurity spending between 2017 and 2021 will be more than $1 trillion. Organizations know they need cybersecurity, but cybersecurity leaders still struggle to get the funding necessary. CISOs looking to justify their cybersecurity budgets need ways to prove return on investment, provide metrics for measuring success, and ensure continued year-over-year value.

Proving Return on Investment (ROI)

Suggesting that a CISO prove ROI prior to implementing a tool, may seem premature. However, when the executive team looks to spending, they need to know that the investment will have a worthwhile impact.

A primary metric for measuring the ROI of a security solution is ability to automate manual tasks. While no one wants to reduce headcount in cybersecurity, no one wants to increase headcount either. CISOs need to choose the automation tools that reduce operational cost the most.

For example, an organization’s security operations center (SOC) is integral to its cybersecurity. However, the operating costs associated with prioritizing and responding to alerts increases annually. According to an article in Infosecurity Magazine, a poll of C-level security executives noted that 37% said they received more than 10,000 alerts each month with 52% of those alerts identified as false positives.

To prove ROI prior to implementing an automated solution, you can gauge how much time a security analyst in your organization spends on a single alert, multiple that by the 10,000 alerts each month, and align that to hourly “salary.” Proving that an automation will reduce false alerts and the time spent investigating them can be a powerful justification for purchasing a tool.

Provide metrics for measuring success

Another strategy for justifying your cybersecurity budget involves presenting clear, key performance indicators (KPIs). Making KPIs relevant to the business goals can make it easier for the rest of the senior executive team to buy into the budget.

Traditional security metrics include:

  • Number of known vulnerabilities
  • Mean time between security patch release and installation
  • Mean time to respond to a security incident
  • Mean time to investigate a security incident

As part of presenting your budget to the executive team or Board of Directors, you need to understand the metrics most important to your organization. Focusing on the primary security issues faced in the last fiscal year, you can locate the gaps in your cybersecurity program to find ways that eliminate them.

For example, if your organization consistently failed to apply security patches within 30 days, you can leverage that metric as part of your justification. If the tools you want to incorporate provide visibility into how many systems, networks, devices, and applications were up-to-date, then you can show the value of the project clearly.

As part of the justification, leverage the proposed change in unpatched assets and apply the change in data breach risk. Providing visibility into how you make the decisions increases leadership buy-in for your budget.

Looking at year-over-year value

Year-over-year (YoY) value may be one of the most important metrics to help justify your budget request. As organizations accelerate their digital transformation strategies, you need to align your budget proposal to the organization’s business goals.

One of the primary business drivers for digital transformation is the YoY value associated with Software-as-a-Service (SaaS) subscription models. Rather than looking for a one-time purchase that comes with heavy up-front fees, focus on the subscription models. Not only does this reduce your current ask, it also helps you budget for the following year and gives you the option to pivot if the choice does not fulfill your needs.

Reducing technology debt with a subscription-based SaaS security solution also reduces manual costs, upgrade costs, software costs, and maintenance costs. With cyber criminals continuously evolving their threat methodologies, SaaS services enhance your security posture not just because they can more effectively protect your IT stack but also because they can pivot more rapidly to address new threats and lack the end-of-life replacement needs.

Meanwhile, they reduce the operational costs associated with servicing and maintenance. With a SaaS cybersecurity solution, organizations reduce data breach costs by securing their data more effectively and reduce operational costs associated with manually updating services or housing hardware. While the subscription itself is a capital outlay, it can be more cost effective from a YoY perspective in the long term.

Bringing a solution to the table that reduces these long-term ownership level costs can give senior leadership and the Board of Directors visibility into your long term goals for both cybersecurity and cost optimization.

SecurityScorecard enables budget conscious cybersecurity

SecurityScorecard’s security ratings platform offers cybersecurity executives a SaaS-delivered, continuous monitoring solution that reduces operational costs, offers KPIs for success, and leverages a subscription model for YoY cost reduction.

Our platform provides at-a-glance security visibility with an A-F scoring system across ten risk groups, including IP reputation, endpoint security, network security, web application security, patching cadence, DNS health, hacker chatter, information leak, and social engineering.

SecurityScorecard continuously monitors an organization’s IT ecosystem, including vendors’ security controls, to give an outside-in view of the controls’ effectiveness. Our platform alerts cybersecurity teams to new threats and enables response prioritization to reduce operational costs while increasing security posture.

Return to Blog
Join us in making the world a safer place.
FREE ACCOUNT SIGN UP
Products
Solutions
Customers
Marketplace
Partners
Resources
Company
Trust Portal
Security Ratings
Login
Blog
Contact
Careers

SecurityScorecard
Tower 49
12 E 49th St
Suite 15-100
New York, NY 10017

[email protected]

United States: (800) 682-1701
International: +1(646) 809-2166
Social-linkedin Social-facebook Twitter Instagram Youtube