In case you are wondering whether a penetration test offers any value to your organization, we have to first of all admit that there are two dimensions (stakeholding parties) in answering this question: executives and technical.
For the executives party, there are two important costs to be calculated: the cost of a data breach and the cost of the mitigation controls. As a rule of thumb, if the cost of implementing the security control is lower than the cost of the data breach occurred by the absence of the specific control, then the latter shall be implemented. Smart!
But regarding the data breach, there are numerous factors involved in the cost calculation, such as:
- Reputation loss
- Stock prices decrease
- Regulatory fines (GDPR and more)
- Revenue loss
- Equipment damage
- Psychological and motivational instability within the company
Spending on information security will reach above than $114 billion in 2018, an increase of 12.4 percent from last year. In 2019, the market forecast is expected to rise to $124 billion.
Having perennial experience in performing penetration tests and other types of assessments, we conclude that three are the most important values a penetration test offers:
1. Learning Opportunity
There is no flawless system, network or application. Conducting a penetration test will offer important insights and actually teach you in a way to better understand your system, its underlying components and the interaction between them. This helps your technical team, developers and IT department not only professionally learn and act proactively in the future but actually, transform the system to something harder and significantly resistant to hacking attacks.
2. Reputation Protection
Protecting your company's reputation keeps your customers engaged and keeps you away from legislative fines. Suffering a data breach is a chained reaction that affects not only your company but more importantly, your customers' companies.
3. Two-way Compliance
Almost every cybersecurity standard implies a form of a recurring security assessment. Make sure to arrange a tailor-made penetration test according to your organizational and legislational security needs and get the best out of assessing your security posture.
Besides compliance, a continuous increase in B2C, B2B and supply chain cybersecurity is observed. Clients need a penetration test proof from their partners, vendors and suppliers. With security assessments becoming a norm in modern businesses, privacy and security concerns drive companies towards a strategic cybersecurity partner. SpearIT offers a variety of cybersecurity services in a holistic approach and makes a step forward, providing proof of due diligence with:
upon completion of a penetration test and verification of mitigation actions