A new report from PwC gives companies tips on how to effectively maximize their increased cybersecurity budget.
For general roles in any organization, PwC advised companies to consider a number of things, including treating security and privacy as imperative, hiring the right people and leaders, prioritizing their risks, which are constantly changing, and analyzing their supply chain relationships.
In order to maximize the cybersecurity budget, PwC advises CEOs to position cybersecurity as important for business growth and customer confidence, demonstrate their confidence in and support for their Chief Information Officers, and finally understand and accept the problems and risks of their business models and change what needs to be changed.
For the CISOs, PwC advises them to understand their organization’s business strategy, build a stronger relationship with their CEO, equip themselves with the skills needed to succeed in the growing demand for corporate cybersecurity, build a strong foundation of data trust, link cyber risks with general corporate risks and business impacts, and finally create a roadmap to quantify their cyber risks and develop real-time reports on cyber risks.