Posted by Edward Ferrara on October 15, 2012
Everyone knows that in business you need to do two things: Increase top-line revenue growth and reduce bottom line cost. Doing both of these is how companies grow profitably. It really is that simple. Now why is it that Information Security Officers have trouble thinking this way? Read my new paper titled Determine The Business Value Of An Effective Security Program — Information Security Economics 101 - developed for the The S&R Practice Playbook.
In the paper, I argue that we need to associate the value of information security with the value of the information assets we protect. How is this value determined, you may ask? Well, ask away, because in the paper I outline a method to determine that value. It’s simple. We live in an information economy and even though we may be a bank, manufacturer, or a retailer, at the end of the day we wouldn’t be in business without information. In many ways information is what we sell.
Think about it; if we associate information security with asset value defined by the revenue these assets produce, we would understand how to prioritize security effort and we would have a lot more productive conversations at budget time.
Join in the debate, and tell me why this approach couldn’t work in your firm. I want to hear from you.