Cost Benefit of Print Security Assessment

Understanding the Financial Impact

 
 
 
 

Do you know that 67%* of organisations have experienced a print-related data breach within the year?

*Quocirca’s Print Security Landscape 2024

Investing in the Print Security Assessment is not just a proactive step towards enhancing your security posture but also a financially prudent decision. According to the IBM Security “Cost of a Data Breach Report 2023”, organisations that implement strong security measures, including regular security assessments, experience significant financial benefits.

Avoid Data Breach Costs

Organisations that fully deployed security measures, such as regular assessments and continuous monitoring, reduce the average cost of a data breach by up to 62%*1. This translates to substantial savings, considering that the average total cost of a data breach can be in the millions.

For instance, if the average cost of a data breach is $6.7 million, implementing robust security measures could potentially reduce this cost by approximately $4.2 million. This reduction in potential breach costs far outweighs the investment in security assessments and enhancements.

Strategic Resource Allocation

Effective use of resources enable businesses to prioritise critical security enhancements, ensuring that the investment is directed towards areas with the highest impact, thus managing overall costs better. This targeted approach not only strengthens the company’s security posture but also ensures efficient use of the cybersecurity budget.

Prevent Likelihood of Breaches

The report also indicates that organisations with proactive security strategies have a shorter breach lifecycle and a lower likelihood of experiencing a data breach. By identifying and mitigating vulnerabilities early, organisations can avoid the operational disruptions and financial penalties associated with security incidents.

Enhancing Organisational Preparedness

Our Print Security Assessment aligns with the Center for Internet Security’s recommended Controls, ensuring that your organisation meets industry best practices. By adopting these controls and conducting regular assessments, you not only comply with regulatory requirements but also enhance your overall cybersecurity readiness, making it harder for attackers to exploit weaknesses.

Incorporating regular security assessments, such as the Print Security Assessment, is a strategic investment that yields significant cost benefits. Through reducing the likelihood and impact of data breaches, ensuring compliance, and optimising resource allocation, businesses can achieve substantial financial savings while strengthening their overall security posture.

Why add unnecessary financial burden to the organisation when it can be avoided with proactive security measures? Investing in the Print Security Assessment today can protect your organisation from costly breaches tomorrow, safeguarding both your data and your bottom line.

*1 - IBM Security “Cost of a Data Breach Report 2023”

*2 - Quocirca, “Print security landscape 2024”

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