5 Effective strategies for CISOs to Secure Higher Budget Support

5 Effective strategies for CISOs to Secure Higher Budget Support

The objective of Chief Information Security Officers (CISOs) is to keep an organization’s security posture in good shape, but getting support from the board can be difficult. In order to receive adequate funding, today’s modern CISO must possess more than technical aptitude and administrative skills.

Business acumen and communication skills are essential for security leaders. To gain support from C-level executives and stakeholders, their security approach must be aligned with the company’s goals and objectives.

Today’s modern CISOs must be able to demonstrate the ROI of their security strategy in a way that matches with the business goals and objectives that matter most to their organization’s board of directors in order to get adequate funding. This entails informing board members about the business value of the security program, by describing their organization’s risk posture and the efficacy of their security program, as well as describing how their approach protects the company’s bottom line.

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Know the target audience

The first step in gaining support for the security team and strategy is for CISOs to understand what the audience cares about and what their goals might be. The key aim for board members is to maximize shareholder returns and have a better understanding of how the business can be handled successfully.

As a result, the majority of discussions tend to focus on cost-cutting and revenue generation. Finally, rather than getting bogged down in technical jargon, CISOs can build a shared understanding of how they minimize risk and the value the security program delivers to the business by clearly and concisely articulating the ROI of the security plan.

Plan beforehand

CISOs can learn about the goals and concerns of board members and utilize this information to create a presentation that resonates with each member while also providing anecdotal, background information to foster mutual understanding. CISOs can then turn board members into security champions and establish communication channels that extend beyond quarterly meetings.

Understand the business

Today’s CISOs are required to wear numerous hats and know the organization inside and out, including the culture, model, customers, drivers, and corporate goals and objectives. Even though security is their top priority, CISOs need to first understand what is critical to the business and then build the security strategy in line with those objectives.

Tailoring strategies to the organization’s next fiscal or five-year plan demonstrates a thorough understanding of the core business, how security fits into the overall strategy, and how it will ensure success of that strategy’s. The security vision will aid the company during times of transformation by focusing on current industry trends and associated organizational risks.

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Factor in compliance

Most businesses are subject to a different set of compliances and regulations based on the industry they operate in, which is crucial to consider when building security programs. These are frequently rigid policies that create standard practices across the industry from an organizational standpoint. In order to avoid negligence and non-compliance, a thorough understanding of regulatory organizations, rules, norms, and regulations is imperative. This will appeal to board members, even more, demonstrating that the department is in sync with industry standards to ensure compliance.

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