Unveiling the Costs of Cybersecurity Assessments: What You Need to Know

Your online safety is in the palm of your hands! It is estimated that cybercrime will rise in the upcoming years by a great margin: up to $10 trillion by 2025! According to Cybersecurity Ventures.

Every business with a digital presence has questioned the sustainability and cost-effectiveness of protecting its online assets at least once. But first, what is a cybersecurity assessment? A cybersecurity assessment is an evaluation of an organization’s overall security posture and its ability to protect itself against attacks. Its cost can vary depending on the organization’s size, its complexity, and the assessment’s scope. Here, we’ll discuss what the costs of cybersecurity assessments entails and why it’s a smart investment for your organization.

The cost of cybersecurity assessments: factors and considerations

Typically, depending on the scope, businesses can expect to pay a range of fees for any cybersecurity assessment. Some considerations may include the duration, number of staff required, licenses, and accreditations. Any resources employed during a cybersecurity assessment will factor in the final value. Most basic assessments may include standard services like a vulnerability scan for vulnerability detection in networks and systems.

For larger organizations, these assessments are naturally more comprehensive and may include additional services. For instance, conducting a social engineering assessment, like phishing, is often a useful approach. Phishing is a technique used by cybercriminals to trick individuals in your organization into providing sensitive information or downloading malware. This can help assess vulnerabilities in your organization’s first line of defense against cyber threats: your staff. Alternatively, at the other end of the spectrum, there’s red teaming. Red teaming involves highly skilled cybersecurity experts who simulate a full-scale real-world attack on your organization over an extended time span. Their objective is to test your organization’s ability to monitor, detect, and respond to a simulated attack. Regardless of the approach you choose, the results are usually presented in a detailed report. These reports include a list of vulnerabilities and our recommendations for improving your organization’s overall security posture.

In addition to the assessment’s cost, your organization should also consider the cost of any necessary remediation or upgrades recommended as a result of the assessment. These costs can vary greatly depending on the organization’s current security posture and the severity of any identified vulnerabilities. As a CREST-accredited cybersecurity company, wizlynx group is committed to providing support while maximizing your budget and resources. 

Why are cybersecurity assessments a smart investment?

It is important to note that the cost of a cybersecurity assessment is a small price compared to the potential cost of cybercrime. According to a report published by Cybersecurity Ventures, the global cost of cybercrime in 2021 was estimated to be around $6 trillion. Although the costs associated with cyberattacks, such as loss of intellectual property, financial theft, ransomware payments, and the cost of recovery and remediation efforts are all included. Losses extending beyond the loss of just revenue, like the organization’s reputation, its infrastructure, and all legal actions taken may also play a big part in the aftermath of cybercrimes.

As cybercriminals become more sophisticated and targeted in their attacks, the cost of cybercrime is expected to continue to increase in the coming years. Up to $10.5 trillion by 2025! Your organization should take proactive actions now to identify and address all vulnerabilities before cybercriminals do. 

A Call to Action: NBC Television Report Highlights Urgent Need for Cybersecurity Measures.

Choosing wizlynx group as your cybersecurity assessment provider

Ensuring strong cybersecurity should be a top priority for your organization, and cybersecurity assessments are crucial for understanding and improving its security posture. While the cost of an assessment may seem significant at first, it is a small price to pay compared to the potential costs of a cyber-attack. Investing in cybersecurity assessment now will prepare your organization to handle the challenges of today’s digital landscape. Still not convinced? TechTarget shares some alarming cybersecurity statistics to lose sleep over that will make you reconsider your cybersecurity posture. 
We always encourage all organizations to consider cybersecurity as an investment in their own future security and resilience. A top-tier cybersecurity provider should offer excellent solutions tailored to your organization’s unique needs: all without compromising quality. At wizlynx group, we pride ourselves on delivering customized solutions that are tailored to each client’s unique requirements.

So, Leave No Stone Unturned! Contact us to learn how we can customize our services to address your specific needs. Do not wait until it is too late! Schedule your cybersecurity assessment today.