What is The True Cost of Rectifying a Security Flaw/Breach?

2Q 2018 | IN-5137
Security is an important foundational piece in a world where anytime anywhere access to services is fast becoming a pre-requisite. However, today, there are many instances where security remains undervalued and this in part is driven by the difficulties in assessing the associated cost of a potential security flaw/breach. How best to calculate the true cost of a security flaw/breach is one of those million-dollar questions and one which is extremely difficult to answer. This is exacerbated by the fact that security attacks are extremely varied in nature as it pertains to the enterprise type and size affected, type of data compromised, which is mixed with other elements ranging from the cost of service downtime, and costs incurred by the impact on brand reputation. All the above make the creation of a cost analysis extremely difficult, an area which needs some form of costing guideline, to use as a baseline to justify the required initial security investment and ongoing costs associated with the management and maintenance of the required security piece. This foresight will shed some light on this million-dollar question and provide some clarity pertaining to the real term cost implications of addressing and resolving security flaws.

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