How to Choose the Right Cybersecurity Software for Your Business

How to Choose the Right Cybersecurity Software for Your Business

Choosing the best cybersecurity solutions is key in today’s digital age. However, not all security solutions are the same and not all of them will achieve exactly what you are looking for. Protecting your business operations means relying on cybersecurity software. Therefore, it’s fundamentally important to choose the right cybersecurity software for your business.  

With that in mind, how do you know which is the right cybersecurity software for your organisation? We’ll take a closer look at the considerations you should take when looking at cybersecurity software, how best to vet cybersecurity solutions, and how to navigate the complex cybersecurity landscape.  

What Cybersecurity Solutions are the Best for Enterprise?  

Different organisations will need a different set of cybersecurity solutions depending on size, sector, or industry. There’s no one size fits all. Other things to consider include the types of data the business handles and its overall cybersecurity risk profile. Malicious actors are always on the lookout for unprotected targets, be that in large-scale organisations or even small local businesses. So companies of all sizes need to ensure robust cybersecurity measures and the right cybersecurity software.  

However, some industries will require more sophisticated cyber protections than others. For example, an organisation that stores a lot of sensitive data or relies on proprietary trade secrets will need a much higher level of cybersecurity and the right cybersecurity software. Alternatively, an organisation that operates within a highly regulated industry will need another set of cybersecurity measures while a smaller business may need different cybersecurity software altogether.  

Many businesses today rely heavily on Magic Quadrant (MQ) reports which are a series of market research reports published by IT consulting firm Gartner that rely on proprietary qualitative data analysis methods to demonstrate cybersecurity market trends, such as maturity, direction, and participants. However, MQ reports can be quite focused on the organisation at hand and will not always help pinpoint the specific needs of your business. Cybersecurity software that works for one business might not necessarily prove a success for another business in the same sector or in this case, quadrant. With that in mind, let’s delve deeper into how to choose the right cybersecurity software for your business.  

How to Choose Cybersecurity Software for Your Business? 

When choosing the best cybersecurity solutions for your business needs, there are some key factors to consider. Let’s take a closer look.  

1. Assess Your Cybersecurity Risks and Vulnerabilities 

Before choosing the cybersecurity software that’s right for your business, it’s important to evaluate the current risks and vulnerabilities facing your organisation. The best way to achieve this is through the following three different cybersecurity assessments:  

  • Asset Audit: An asset audit is key to determining your network endpoints, what your overall network looks like, and analysing your network components, as well as establishing what software programs and data are on the endpoints. This 360-degree overview is essential to understanding the vulnerabilities and risks that face your business.  
  • Risk Assessment: A risk assessment provides a thorough look inside your network to determine what risks your business is vulnerable to. Pinpointing and understanding your biggest cybersecurity risks and what damage they could inflict are key for when it comes to prioritising your cybersecurity efforts.  
  • Vulnerability Assessment: A vulnerability assessment comes after you have determined what your biggest risk factors are. It’s important to understand how well protected your network is so that you can defend your business against any lurking threats. In this level of assessment, it’s important to assess the level of cybersecurity awareness across the entire business, implement security patches in software, and run penetration tests that simulate attacks against your company’s network to reveal previously undetected vulnerabilities.  

2. What are Your Plans for Future Growth? 

Before choosing the best cybersecurity solution for your business, it’s important to consider the scalability of your organisation and the plans for future growth. When it comes to picking the right cybersecurity software, long-term thinking will yield the best results. For example, scalable solutions are able to grow with your business, whereas non-scalable software can negatively impact business performance or quickly lose efficacy as your organisation scales for future growth. When it comes to choosing the right cybersecurity software, it’s important to factor in your organisation’s five-year growth plan and ensure that the cybersecurity solutions you opt for are in sync and in line with the future plans of the business. 

3. How the Data Security Solution Will Impact Your Regulatory Standards 

One of the fundamentally important aspects of business today is meeting regulatory requirements for data security. However, regulatory burdens often differ from one organisation to the next which makes it extremely difficult to find the right cybersecurity solution. For example, most retailers today are bound by payment card data security standards which means your business must utilise cybersecurity software that enables it to meet those standards. When assessing a data security solution, the key factor to consider is whether it meets the regulatory standards that your business must abide by.  

4. Consider the Cost

When choosing cybersecurity solutions for your business, it’s always important to consider the cost. Spending vast amounts of money on cybersecurity software in the short-term might seem like an unnecessary cost, but it could save you far more in the long-term if your cybersecurity measures are not up-to-scratch and your business gets targeted.  

Cybersecurity spends vary from business to business, but they usually fall at around 10% of the annual IT budget. It’s also important to remember that cybersecurity programs are not a fixed one-time investment and evolve over time and grow with your business. They are an ongoing expense that should be factored into your budget. The cost of a cybersecurity infrastructure will also vary depending on the company size, sector and industry, and the specific cybersecurity needs of the business.  

There are also a whole host of expenses to consider once the right cybersecurity software has been chosen for your business. Let’s take a closer look. 

Initial Expenses:

  • Software and products 
  • Hardware 
  • Cybersecurity training for workers, third-party vendors, and clients 
  • Cybersecurity consultation 
  • Cyber insurance 

Once basic cybersecurity measures have been incorporated within your business, you’ll need to maintain them. These ongoing expenses can include the following: 

Ongoing Expenses:

  • Software and product updates 
  • Hardware upgrades 
  • Cybersecurity training (new information and for new employees) 
  • Ongoing cybersecurity consultation 
  • Cyber insurance premiums 
  • Cyber resilience programs 

5. Consider the User-Friendliness of the Software 

No matter what the security feature or product is, who the user is or what the tool is intended for, always consider the user-friendliness of the software. Designers and developers must put user experience above all else when creating cybersecurity functionality. Designing cybersecurity products from a human-centric perspective is key to its success not only within your business but for the product to succeed on the market.  

In today’s digital age, considering the user-friendliness of the software provided seems the hardest challenge for cybersecurity professionals. Not only do they seem unable to simplify the usability of the products they produce but are unable to cater for the layperson who is not so familiar with the intricate ins and outs of the cybersecurity industry. Therefore, a more human approach should be adopted where the cybersecurity industry adapts to the users and not the other way around. 

What’s more, adding a new data security solution may not only enhance the effectiveness of your business network but can also detract from it. A new security tool may have a negative impact on the user experience (UX) if tasks become more time-consuming for users. Also, if you use customer-facing applications on your network, a negative UX experience can put users off. It’s therefore fundamentally important to consider how any new software will impact your current cybersecurity program. 

6. Can Your Existing Data Security Measures Integrate with Your New Solution? 

It’s important to remember that any new cybersecurity solution must integrate with existing data security measures before adding it to your cybersecurity ecosystem. If you fail to do so, the effectiveness of the tool will become compromised, and you may have to replace other data security measures which incurs unnecessary costs.  

So, before deciding on your cybersecurity software ensure that the data security tool chosen syncs with any existing data security measures. It must also accomplish the same task that any new or improved tool is designed to address for any specific purpose. If your cybersecurity software is inadequate or lacking, it is advisable to consult cybersecurity experts to conduct a review of your cybersecurity software, products, and overall posture to determine the best course of action.  

Find Your Best Cybersecurity Solutions with RiskXchange 

Protecting your business, its operations and sensitive data means relying on cybersecurity software. Successful cybersecurity programs assess, monitor, and mitigate the risks from cyberattacks targeted at your organisation. And the best way to ensure that you find the right cybersecurity solutions for your business is to hire an expert. Cybersecurity firms like RiskXchange will be able to pinpoint exactly what you need and provide you with an all-round cybersecurity solution.  

Antivirus software is a pretty common cybersecurity software that comes as standard with most digital consumer products today, but these basic levels of protection will not cover the complex cybersecurity needs of most organisations. Antivirus software is, of course, a key component for any business but there’s a lot more to it. It’s therefore important to note that you won’t be able to do it by yourself, you will need the help of an expert. 

When deciding on the right cybersecurity resources for your business, it’s important to understand what risks are posed to your business, and what IT security firm has the experience, the tools and personnel to help guide you to the best cybersecurity solutions. RiskXchange is the only platform that provides a complete 360-degree view of your attack surface, including that of your vendors. It will continuously monitor your complete attack surface, highlight any risk, and enable you to fix any issues before the attacker discovers them. 

Get in touch with RiskXchange to find out more about the right cybersecurity software for your business. 

Frequently Asked Questions 

How do I choose a cybersecurity solution? 

Different cybersecurity solutions provide different levels of protection to your business, each come with strengths and weaknesses. It is always important to compare different cybersecurity solutions based on key features such as monitoring, encryption, authentication, and detection capabilities when choosing the right cybersecurity software for your business. 

What are cybersecurity best practices for businesses? 

Cybersecurity best practices for businesses are when you are utilising the best cybersecurity solutions for your organisation that are available at that time. On top of that, updating your software, using strong passwords, avoid clicking on suspicious links, and activating multi-factor authentication are some of the basic methods used which will dramatically improve your safety online.